Stanford to Chicago to Raising $9 Million and Reinventing Millennial Investing - Brian Barnes / Founder of M1 Finance - Tech In Chicago
Brian Barnes is the CEO and Founder of M1 Finance, a startup making an automated investment tool that lets users put their money to work in a balanced portfolio without the hassle of actually managing it.
Just a few years after graduating from Stanford, Brian raised $9 million and moved back to Chicago to build the platform.
In This Episode You Will Learn:
* The motivation behind Brian starting M1 Finance
* How Brian went about launching a MVP in the heavily regulated finance industry
* How Brian raised $9 million pre-launch
* The benefits of robo-advisors over all ETFs
* What M1 Finance costs and how they plan to differentiate from other robo-advisors
* How Brian got his first customers
* What Brian has learned about life and business from his mom Brenda Barnes, Former CEO of Pepsi and Sara Lee?
* What the most effective marketing channels have been
* How M1 Finance's message has evolved over time
* How to communicate a relatively complicated product to consumers quickly
* The importance of design in fintech
* Why Brian moved back to Chicago after going to Stanford and whether he thinks it matters
* Why Chicago has to improve our risk appetite
Selected Links From The Episode:
* Sapiens: A Brief History of Humankind by Yuval Noah Harari
* The Count of Monte Cristo by Alexandre Dumas père
* Behave: The Biology of Humans at Our Best and Worst y Robert M. Sapolsky