Articles by Manish
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Manish Jain, CFA shared thisI'm tired of pricing that says: 4x usage 10x usage 20x usage Consumer subscriptions are becoming as opaque as purchasing medical treatment. I sympathize though. It's a difficult problem to solve.
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Manish Jain, CFA shared thisA week after Money20/20, the smaller gatherings are what stick with me. If you’ve been, you know the mayhem. Packed hallways. Packed happy hours. So many new people. Thanks to the CleverTap and FGV Capital teams, I got to join a dinner full of CMOs. Usually, I’m at a table with founders or investors. When do I ever get to do this? I loved being the dumb one in the room, asking questions and learning about growth from people who’ve lived and breathed marketing for years. Sign me up for the next dinner like that one!
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Manish Jain, CFA shared thisWork at Microsoft or any big tech company? Does this sound familiar? • $20,000 of Microsoft shares held directly. • $30,000 of Microsoft exposure inside funds. • Another $10,000 of Microsoft exposure in a partner’s IRA. That is $60,000 in Microsoft. Three places, one business. The $30,000 is the Microsoft portion of those fundsa, not their entire balance. Now consider the paycheck separately. If Microsoft is your employer, the same business also contributes to your household income. Owning the shares may be exactly what you want. But the number beside MSFT in one account does not tell you the size of the household’s bet. My view: count the whole position before adding more. Decide how much Microsoft you want to own with the income connection in view too. Mezzi This content is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Past performance is not indicative of future results. No guarantee of future performance or outcomes is implied. Examples are hypothetical and for illustrative purposes only. Actual results will vary based on individual circumstances, portfolio composition, market conditions, and fees. Registration does not imply a certain level of skill or that the SEC has approved the company or its services.
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Manish Jain, CFA shared thisAnother day, another biased survey. I don't trust surveys published by biased sources. Mezzi's hard data tells a very different story. Many customers report increased trust in Mezzi's AI as they use it over time. Why? It's likely because Mezzi goes the extra step of learning about its customers so it can deliver financial insights and recommendations using AI technology. Take a look here at an independent study of Mezzi's data: https://lnkd.in/g-B27t8X
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Manish Jain, CFA shared thisSometimes I get questions about the way Mezzi works and I'm just dumbfounded. Customer asks: "When giving advice and running analysis, do you take our real estate investments into account?" OF COURSE! How could you not?! They are great questions. It's no fault of the customer. He's been led to believe such solutions didn't exist. I'm just so shocked at how the existing system came to be. How could you provide advice without the full picture? Guess that's why we're building Mezzi This content is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security.
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Manish Jain, CFA posted thisWho's headed to Money20/20 next week? Would love to catch up!
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Manish Jain, CFA shared thisMessages like this are why we built Mezzi. One of our members wrote in to say Mezzi has become their go-to source of guidance, and that they recommend it to everyone they know who's interested in financial advice. Testimonial from a current Mezzi member who was not compensated. Their experience may not be representative of other members and is not a guarantee of future results.
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Manish Jain, CFA reposted thisManish Jain, CFA reposted thisA screenshot is worth a thousand words. What does it mean for your portfolio? You read a market outlook, save a chart, or see a post about a company you own. The next question is personal: “How would this affect my investments?” Take a screenshot, upload it to Mezzi, and ask: “If this scenario played out, how would it affect my portfolio? Include my exposure through funds, and explain which assumptions matter most.” The screenshot supplies the scenario. Your connected accounts supply your holdings. In this demo, a post about older NVIDIA GPUs continuing to earn revenue leads to an answer about NVIDIA and cloud-company exposure. In the illustrated portfolio, more than half of the NVIDIA exposure sits inside funds such as VOO and QQQM. Mezzi also explains an assumption that could change the conclusion: higher rental prices could reflect temporary shortages. Include the source, date, and enough of the page to preserve the context. Then ask the follow-up that matters to you: “Would this change anything about my plan?” Try it with something you're reading: www.mezzi.com This content is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Past performance is not indicative of future results. No guarantee of future performance or outcomes is implied. The illustrated response reflects one person's circumstances. Holdings and individual circumstances vary.
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Manish Jain, CFA shared thisWho gives the advice matters. So does how well they know you. That distinction gets lost when surveys put “AI financial advice” into one broad category. The Gallup–Edward Jones survey named ChatGPT, Claude and similar assistants as examples and noted low trust in AI financial guidance. A general purpose chatbot is not the same as a fiduciary financial advisor powered by AI. To build the latter you have to have the right context and the right guardrails. At Mezzi, advice draws on your connected financial picture. What you already own, the cash you have and the goals you’re working toward help shape the answer. An NYU Stern researcher examined the delivery of advice. More personalized buy-advice answers were more likely to be followed by a recommended purchase. When you’re choosing help with your money, ask who provides the advice, what they know about your finances, and how they explain the recommendation. A survey about “AI” can’t answer those questions for you. I recently discussed the research with Josh Lipton on Yahoo Finance: https://lnkd.in/gPgfrDNb Research: Gallup–Edward Jones; Baldinger, From Prompt to Portfolio, §6.2. Mezzi supplied de-identified data. Baldinger disclosed unpaid contractor work for Mezzi and no financial interest. NYU affiliation and SEC registration do not imply endorsement; registration does not imply skill. For informational purposes only; not investment advice. Past performance does not guarantee future results. Examples are illustrative; actual results will vary. Mezzi is an SEC Registered Investment Adviser (CRD #337818).
Manish Jain, CFA commented on a post
1d
This is happening. It has to happen in a regulated, fiduciary construct IMO. That is how we've been building it with Mezzi. Fiduciary advice that's always on and that's leading to real action. And with concierge support that layers on trust. Automating movement of funds is next!
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Manish Jain, CFA liked thisManish Jain, CFA liked thisRich Indians in the US are in SF and Seattle (Tech) and NY/NJ (Finance). The rest are all over, but of the 5 Million Indians in the US, 120K are worth more than $5M in cash and 39K are Ultra High Net Worth over $25M in cash + assets (outside primary home)
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Manish Jain, CFA liked thisManish Jain, CFA liked thisSome founders build one company and call it a career. Nirav built two, and took both public.. starting from a West Texas town with no one who looked like him. His lesson? It was never one flash of glory. It was a hundred small things, done over and over. Nirav Tolia. Stanford. Founder of Nextdoor, a billion-dollar company. His second company to go public. But ask how he did it, and he won't start with the product. He grew up Indian in a small Texas town, the only one, always the outsider. His parents came to America with almost no money. What they had was their education and their work ethic, and watching that is what taught him to dream big. His contrarian take on building: don't start with what. Start with who. Most founders obsess over the product. He says get the right people around you first, and you can do anything. The most important thing his wife taught him was that making other people feel special is a superpower. It keeps you selfless instead of selfish. And if he can give his three boys what his parents gave him, dream big, work hard, respect everyone, he says he'll be beyond happy.
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Manish Jain, CFA liked thisManish Jain, CFA liked thisI’m VERY excited for fully self-driving money. Over the last 10 years, a lot of people tried to build financial education and insights products. I think most struggled because: - learning about personal finance is boring - it’s a broccoli problem --> everyone already knows they should spend less and save more, but knowing that doesn’t make doing it any more enjoyable - most people don’t care about graphs and dashboards - even the good ones still put the onus on the end user to take action on what they were shown The 1000x product experience is agents that route every dollar using intelligent algorithms so the right behavior happens automatically. Here’s what I would want an agentic financial institution to offer end to end: Automatically runs: - owns your bank account and direct deposit (based on bank responses to agents, think it would need to own the account) - tracks when payroll hits and sets aside money for bills and living expenses based on your spending history - pays down debt in order of highest interest rate - keeps an emergency fund topped up and sweeps idle cash into HYSA/treasuries - invests what’s left based on your risk tolerance with rebalancing and tax loss harvesting - maxes out your 401k match, HSA and IRA - routes every purchase to the card with the best rewards and uses points/credits before they expire - cancels unused subscriptions and negotiates bills - flags fraud and disputes bad charges for you - files your taxes every year - always-on dashboard of your full net worth (don't have to manually reconnect accounts) Spots life events and then recommends and shops offers for you: - buy a home: rate shops your mortgage across lenders, refis when rates drop - get married or divorced: updates accounts, beneficiaries and filing status - have a kid: opens a 529 or UTMA and makes sure you have life insurance - change jobs: rolls over your old 401k, helps with equity compensation - insurance renewals: re-shops home, auto and renters every year - aging parents: helps manage their accounts + care - inherit money / lose a family member: settles the estate, handles inherited accounts - estate planning: will, trusts, beneficiaries - nearing retirement: figures out when to claim Social Security and how to draw down your accounts tax efficiently All with always-on and concierge-level service. Basically a family office for everyone! Anything missing?
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Manish Jain, CFA liked thisManish Jain, CFA liked thisFifteen years ago, my co-founders and I saw an opportunity to build a social network for neighborhoods. We started with a simple belief: neighbors are worth connecting. So we built Nextdoor one neighborhood at a time. This afternoon I rang the Nasdaq Closing Bell with the team that built it, to mark 15 years since launch. More than 110 million neighbors across 11 countries have joined Nextdoor, and what sets us apart is who they are: real, verified people sharing what they know about the place they live. A neighbor’s recommendation can’t be manufactured or scraped from somewhere else. What inspires me most is what neighbors do with it. Nextdoor was a lifesaving tool during Hurricane Harvey in 2017. Today a community in Raleigh uses it for Lasagna Wednesdays, a free weekly dinner that began with one neighbor and a meal for four and now feeds about 100 people a week. Neighbors come to Nextdoor for utility, to solve a problem like finding a trusted plumber. They stay for community. Thank you to everyone at Nextdoor, past and present. Thank you most of all to our neighbors. Here’s to the next 15 years.
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Manish Jain, CFA liked thisManish Jain, CFA liked thisI’m excited to announce that Interchange Clearing is among the Depository Trust Company (DTC) Participants preparing to access the The Depository Trust & Clearing Corporation (DTCC) Tokenization Service, which launched today. Tokenization is becoming an increasingly important part of the evolution of securities markets. We intend to help build what comes next. Read more about it in our latest blog post: https://lnkd.in/gatYxH6gInterchange Clearing to Access the DTCC Tokenization ServiceInterchange Clearing to Access the DTCC Tokenization Service
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Manish Jain, CFA liked thisManish Jain, CFA liked this#1 on Maven this week Thanks everyone who's signed up 🙏 Join us: https://lnkd.in/gxvsYmFh
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Alpha Kappa Psi (Gamma Class at NYU Stern)
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