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Hi, and welcome to the A16Z podcast. As the average consumer gets access to more and more

information that used to be reserved for trained specialists, we're starting to see new asset

classes form that are changing the way that we think about banking and investing.

In this episode, chief strategy officer and co-founder of Open Invest, Josh Levin, CEO of Quantopian, John Fawcett,

and A16Z's Angela Strange, talk about interesting new models for both retail and institutional

investors and what impact they might have. This conversation was recorded at our summit event in

November 2017. Josh, a lot of your team comes from Bridgewater, which is now, you know,

one of the better known hedge funds, especially after Ray's, Ray Delio's book has come out.

Why would someone come to open invest for a trading strategy that doesn't exist somewhere else?

Sure. So I spent the last decade in the impact investing and sustainable finance space, dealing with a lot of

the world's largest institutions, banks, and investors. And I was constantly getting pummeled by

individuals and small and mid-sized institutions asking how to do this stuff. How can we get involved?

How can we do values-based investing? And there's basically no solution for them. I think the three big megatrends in wealth management you should know about is a move

towards passive investing, a move towards interest in socially conscious investing,

and then just better digital tools, awesome digital interface.

And we realized that we could take their skill set and point it towards, instead of beating the market,

point it towards passive investing, towards buying and holding the market, but actually point

the customization towards people's values. I come onto your site and I say, I want to invest in,

...