Patrick McKenzie+ Your Authors @patio11 I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own. Sep. 02, 2020 1 min read + Your Authors

Interesting new Wealthfront feature, which I’ve heard personal finance geeks pine for for 20 years:

It uses something like Plaid under the hood to grab your (non-Wealthfront) checking account balance daily and then ACH debit your sweep to a Wealthfront account.

I expect all the consumer-legible fintech which care about AUM will rush to copy this.

“Is this a good idea?”

On the one hand I generally think most people should set-and-forget more of their finances but monthly recurring transactions are good enough for this.

OTOH I probably spent 1,000 hours over the years making sure I didn’t have $50 too much in checking.

You can follow @patio11.


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