Betterment: Jon Stein
Jon Stein, founder of Betterment, explains how he launched an online investment platform in the wake of the 2008 financial crisis, targeting everyday investors with a robo-advisor model. He details the bootstrapped early days, the critical TechCrunch Disrupt launch that forced a working product, and the subsequent fundraising from Bessemer Ventures. The episode also covers the operational challenges of managing withdrawals during a market crash and the complex renegotiation of equity with co-founders Eli Braverman and Sean Owen.