Lenny: When I think Self-Driving Money, I'm picturing money just driving around, like a Tesla. Money meets Tesla. Chris Hutchins: Yeah, the vision I had was what are the core pieces of financial life that are stressful? It's like, "I got to move money, I got to contribute to these different accounts. I want to make sure I have enough to pay my bills." And so what we ended up with was a product called Autopilot that would monitor your core banking account, whether it was a checking account at Wealthfront or not at Wealthfront or whether it was an account at Wealthfront. And we would say, "Let's make sure we leave a certain amount of money." And you could tell us that much. And then we would say, "Great." Now we had basically a series of things to fulfill with any excess. It was like, "Let's make sure you keep this much as a three-month emergency fund, max out your Roth IRA. Let's make sure you max out your 529 for your kids and let's put the rest in your kind of taxable just brokerage account." And we would just periodically say, "Oh, you got extra money, let's sweep it over and do what we need to do with it so you don't have to think about it."
Money meets Tesla.