NGPF Podcast: Tim Talks To Colleen Poynton and Alex Davidov About The FinTech Revolution
Thanks to Colleen Poynton and Alex Davidov of Core Innovation Capital for recently appearing on the NGPF podcast. As venture capitalists, Colleen and Alex invest in promising early-stage companies in the financial services sector. As such, they have a front row seat to the innovative companies disrupting the status quo and changing the way we pay, we borrow and we invest (to name just a few). Colleen and Alex also provided insights into the changing nature of work (aka “the gig economy) and what young people need to do to thrive in this new environment. Enjoy!
- 0:00~1:12 – Introduction
- 1:12~4:47 – Colleen and Alex describe their day jobs
- 4:47~8:45 – What makes a venture capitalist successful?
- 8:45~10:26 – Where does the money come from that venture capitalists invest?
- 10:26~15:36 – Economics and venture capitalism
- 15:36~18:55 – Advice for people who want to start a business (“budding entrepreneurs”)
- 18:55~28:33 – Trends in financial technology (“fintech”)
- 28:33~30:56 – Discussing how one of their companies, Honest Dollar, was acquired and the rationale for that acquisition
- 30:56~35:06 – Apps for young people
- 35:06~40:15 – How do fintech companies protect user information (“the security questions”)
- 40:15~44:05 – What apps do they use in their financial lives?
- 44:05~48:45 – Advice to navigate the new world of employment
- 48:45~49:43 – Conclusion
- “Have a strong point of view but as new data and new information presents itself, be open minded and flexible.”
- “No one really wants to save money, they would rather spend money, so every way that can keep us from that (spending) is good.”
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
To get access to NGPF answer keys, assessments, and teacher-only resources: create a FREE Teacher Account