The Jump Off Point Podcast Pilot Episode with Bill Harris

By Peter Johnson
2/25/2021

Bill Harris, former CEO of PayPal and serial FinTech entrepreneur, and Peter Johnson, Jump Capital’s FinTech Partner, join the podcast as Jason Felger helms a discussion on the expected 70 trillion dollar generational transfer of wealth and ensuing changes in the financial markets.
"I think traditional stock brokers, if that's what you mean by financial advisors, I think they're in deep trouble."
Bill Harris

Episode guests

Bill Harris
FinTech Founder, Nirvana

Bill is a FinTech luminary having founded or been CEO of over 10 FinTech and security companies, including PayPal, Intuit, Chipsoft, and Personal Capital. Bill has also served on numerous boards including RSA Security, GoDaddy and SuccessFactors. Bill is currently working on his latest startup, Nirvana, and recently co-founded One.

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Peter Johnson
Partner, Jump Capital

Peter leads Jump Capital’s investments in fintech, insurtech, and crypto/blockchain sectors. Last year, Peter led the firm’s successful exit of Personal Capital, an online financial advisor and personal finance platform acquired by Empower Retirement in Q2 for $1B. In addition, Peter led investments in M1 Finance, TradingView, & BitGo. He’s an advisor to the Chicago DeFi Alliance.

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Jason Felger
Host, Jump Capital

Jason Felger leads Jump Capital’s Operating Platform where he runs business development efforts across the firm’s growing portfolio. With extensive experience in B2B operating roles and leading growth-stage companies, Jason partners with founders and investors to define their next stages of evolution and capitalize on attractive market opportunities.

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Playbook themes

1) Bill's perspective on GME/Robinhood - 11:50

"Many people will make a ridiculous amount of money in a ridiculously short period of time. And just as many people will lose that much money that quickly. And there's no social benefit for that. There's no investment benefit for that. Regardless of whether you're a retailer, or a retail customer, or a professional investor this kind of volatility, this kind of needless and artificial volatility this kind of risk and none of it makes any sense."

2) Bill & Peter's debate on Bitcoin & blockchain - 13:50

"But more importantly is whether you need a trusted party, whether in fact Bitcoin relies on a whole series of trusted parties, put all that aside. I think a trusted party involved in financial transactions is a positive, it's a good thing. And I'll just give you one example. One of the huge problems with Bitcoin is that there is no governance. If you lose your private key, if someone steals your private key, if for some reason, some transaction goes astray, there's no way to recover."

3) Fractional ownership of assets - 23:00

"So fractionalization, I think is absolutely the way almost every asset class should ultimately be held. And I think it's one of the great things that the technology can do for investing, because it makes everything fast and cheap"

4) Opportunities and trends in technology - 26:40

"Mechanisms that can move beyond the packaging of a mobile app I think can offer great opportunities. That's on the technology side or the technology platform side and the financial services arena, to me the tremendous opportunity is to reintegrate what has become a horrifically fragmented landscape of products and institutions and offerings"

5) Advice for entrepreneurs - 29:00

"And the other thing I'd say is this, where is the source of your inspiration? Do it because you have an inspiration rather than just because you want to start something or be an entrepreneur."

By Peter Johnson
2/25/2021

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