Adam Moelis, Yotta Savings - Almost Half Of American’s Can’t Come Up With $400 In An Emergency And 78% Of People Live Paycheck To Paycheck | #273

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 21 December 2020

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode 273, we welcome our guest, Adam Moelis, co-founder and CEO of Yotta Savings, which allows users to save money, earn over 2x the national average in interest and get weekly chances to win additional prizes up to $10 million through weekly random number drawings In today’s episode, we’re talking about how to use behavioral psychology to encourage American’s to save. We start with a somber look at the average American’s financial picture. Then Adam explains the history of lottery or prize-linked savings accounts and why the idea was mostly banned in the U.S. until 2015. He discusses the experience of going through Y Combinator’s first remote batch and then explains the lottery program, which offers users a chance to win between ten cents and ten million dollars. As we wind down, we hear about the company’s’ experimentation with customer acquisition with influencers and why they’ve focused on the social aspect of the app. Please enjoy this episode with Yotta Savings’, Adam Moelis. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mepp Faber Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Met Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will not discuss any of Cambria's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of
0:31.2	Cambria Investment or its affiliates. For more information opinion of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:39.6	Hello friends, great show today.
0:41.6	Our guest is the co-founder and CEO of Yada Savings,
0:44.8	which allows users to save money, earn over two times the national average and
0:49.1	interest, and get weekly chances to win an additional prize up to 10 million bucks through weekly random number
0:55.7	drawings. As a special offer for listeners to show, visit with Yada.com and use the code
1:01.5	Meb to get a hundred extra tickets into the next week's drawing.
1:06.0	That's W. H Y O T T.
1:10.0	com and use the code meb.
1:11.0	In today's episode we're talking about how to use behavioral
1:14.0	psychology to encourage Americans to save. We start with a somber look at the
1:19.0	average Americans financial picture, then our guest explains the history of lottery or prize link savings accounts and why the idea is
1:26.4	huge elsewhere but was mostly banned in the US until 2015.
1:30.9	We discussed the experience of going through why Combinators first remote batch and then hear about the lottery program which offers users the chance to win between 10 cents and 10 million bucks.
	...

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