SF Global Shapers hosted Empower Finance Co-Founder & CEO and Former Sequoia Capital Partner Warren Hogarth at a ShaperTalk on Tuesday, 6/25, and we wanted to share key takeaways from the event:
- Warren compared working for a VC firm and running a startup while explaining why he decided to start a company. He said that working for a VC firm is similar to being on a swim team — you and your teammates are part of the same team and can cheer each other on, but ultimately the work you do is pretty independent. Startups have a more team-like and collaborative atmosphere because everyone relies on each other and ultimately shares the successes and failures of the company.
- One of the moments that made him want to start Empower was when he was visiting relatives in Arkansas and realized they were having a lot of the same issues people he knew were having. He realized this was an issue that affected everyone, not just people on the coasts.
- Empower is different from other personal finance apps. Whereas apps like Mint give you a lot of information about your finances after the fact with the hope that you’ll see the data and adjust your actions going forward, Empower uses an AI assistant to nudge you in the moment to do small things you might not otherwise think about but nonetheless can have big results in the long run.
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