Kevin said "Blackbeard used to light his beard on fire and then jump on the opposing ship he was attacking. He was crazy but won a lot of battles."
Goalsetter makes its money through three streams of revenue:
- A dollar per goalsetter card minus 5 cent transaction or ACH (Automated Clearing House) fee
- Parents sign up for any savings feature for $1/per month/ per kid.
- A percentage of assets under management; Partner bank which holds their assets will give them a percentage back of those assets under management of 100 basis points or 1%
Advisory shares are typically given to business or technical people that lend their time and expertise to a company in exchange for equity. These shares are like common stocks, in the sense that it has voting rights, but have a shorter vesting period (1- 2 years) due to the fact that adviser's value to start-up companies drops over time as it passes from stage of maturity to another whereas employee's value goes up.
Kevin also said "100 basis points is more than the entire industry of services,in mutual funds, in exchange traded funds in management fees, brokerage house, on-line...highest fee right now going."
An Accelerator aims to help startups achieve a level of business growth in just a few months, that would normally take anywhere between 12 to 18 months if they decided to do so on their own. They aim to facilitate the development of projects, and provide startups with the tools to establish strong value propositions, in order for them to have the best chance of achieving external funding.