Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Jon Stein

๐Ÿ‘ค Speaker
206 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

We raised some money from ourselves.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

We pooled our investment so that we could bring on a couple of employees.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

And I think that initial investment was only maybe, it was less than $400,000 that we pulled together from ourselves and friends and families.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

Those four founders that I mentioned all chipped in some money.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

That's right.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

It was really just founding the company.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

It wasn't even a note.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

We all contributed capital to the company.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

Two hundred and five million today.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

always wanted to build a company that would impact the lives of millions of people for the better.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

From day one, that was our ambition.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

Now, we knew it would take a lot to get there.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

We knew it would be a capital-intensive business.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

We're building an investing business that requires a lot of trust.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

It requires a lot of scale.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

It requires a lot of really smart engineers and investing experts and just great

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

PhDs and CFPs and all these types who are expensive.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

And so we knew it was going to be a capital-intensive business, and we'd have to raise money to do it from day one.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

We've grown and been successful beyond, I think, even those initial ambitions.

SaaS Interviews with CEOs, Startups, Founders
670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein

And today we have 220 people.