Building A $30B AUM Unicorn with Jon Stein, Founder of Betterment
On today\u2019s show I chat with Jon Stein, the Founder and Chairman of Betterment. Betterment is an investing platform that helps people manage their money. Jon and I met at Columbia Business School way back in 2007, which is when he first told me about his idea for Betterment. I didn\u2019t get it at the time, but Jon had a vision.\n\nAfter navigating the murky waters of a HIGHLY regulated sector, Jon launched Betterment in 2010, which was revolutionary at the time for being the first no-fee trading platform. Now they have $30b in AUM serving 600,000 customers. It\u2019s officially a unicorn.\n\nAfter 13 years at the helm, Jon recently stepped down from being CEO and is now the Chairman of the Board. Here in the States it\u2019s become strangely taboo for a CEO to step down, while in other countries it\u2019s an obvious sign of growth and development. I view Jon\u2019s move as a promotion. During our chat Jon was very candid about the transition which I think will be helpful to a lot of other founders.\n\nWe also discuss Betterment\u2019s founding story, how to navigate regulatory challenges as an entrepreneur, and much more.