How Autopilot REVEALS Political Insider Trading | Chris Josephs

18 Apr 2025 · 1 h 7 min

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In short

Podcast Summary: Sourcery - "How Autopilot REVEALS Political Insider Trading | Chris Josephs"

Episode Overview Host: Molly O'Shea Guest: Chris Josephs, Co-Founder of Autopilot Release Date: Not specified

In this episode of *Sourcery*, Chris Josephs shares insights into political insider trading, the evolution of his company Autopilot, and innovative marketing strategies.

Key Themes and Discussions

  1. Political Insider Trading
  2. Hypocrisy of Politicians:
  3. Chris emphasizes the contradictions in politicians trading stocks, especially given their access to non-public information.
  4. Example highlighted: Nancy Pelosi's trading patterns and performance.
  • Insider Trading Laws:
  • Discussion on the Stock Act of 2009, which aimed to curb insider trading among politicians but is seen as inadequate due to loopholes (like a 45-day reporting delay).
  • Mention of the Richard Burr scandal, illustrating how political figures exploit their positions for personal gain.
  • AOC's Legislative Push:
  • Alexandria Ocasio-Cortez (AOC) advocating for banning politicians from trading stocks, highlighting bipartisan support for such regulations due to public outcry.
  1. Evolution of Autopilot
  2. Transition from Iris to Autopilot:
  3. Autopilot evolved from a social investing app (Iris) that allowed users to follow friends' trades to a platform enabling users to follow top investors' portfolios, including political figures.
  • Growth Strategy:
  • Autopilot has achieved significant traction with 2.5 million downloads and six figures in active subscribers.
  • Utilizes creative marketing tactics and partnerships with influencers to democratize investment opportunities.
  1. Marketing and User Engagement
  2. Viral Growth Strategies:
  3. Successful marketing initiatives include leveraging trends on social media platforms.
  4. Discussion on creating relatable content (e.g., the "perfect trade" series) that resonates with audiences.
  • Engagement Metrics:
  • Autopilot enjoys significant monthly impressions across social media, with a collaborative approach to content creation boosting brand visibility.
  1. Challenges in FinTech and Future Outlook
  2. Market Volatility:
  3. Chris discusses how emotional trading often leads to poor decision-making among retail investors, emphasizing the importance of long-term strategies.
  • Future Growth:
  • Plans to continue evolving Autopilot by partnering with creators and expanding offerings beyond political trading.
  • Desire to enhance trust in institutions through transparency and regulation.
  1. Funding and Business Model
  2. Funding Milestones:
  3. Chris reveals that Autopilot has raised around $6-7 million from various investors, including Kraft Ventures and Nomad Ventures.
  • Revenue Streams:
  • Autopilot operates on a subscription model, providing users with access to automated trading based on expert portfolios.

Key Takeaways

  • The episode provides a critical lens on the ethical implications of political figures trading stocks while in office.
  • Chris Josephs illustrates how Autopilot is positioned to revolutionize retail investing by making top investor strategies accessible to the average consumer.
  • Emphasizes the importance of transparency and ethical practices within the rapidly evolving fintech landscape.

Final Thoughts Listeners gain valuable insights into the intersection of politics, finance, and technology, understanding how platforms like Autopilot aim to empower retail investors while navigating the complexities of insider trading laws.

Follow the Podcast

  • Website: [Sourcery](https://www.sourcery.vc/)
  • Molly O'Shea on X: [Molly on X](https://x.com/MollySOShea)
  • Chris Josephs on X: [Chris on X](https://x.com/Chrisjjosephs)

---

*Disclaimer: The views expressed in this podcast are for entertainment and informational purposes only and do not constitute financial advice.*

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Transcript

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0:00Just the hypocrisy that$350 million literally following their trades. Like if that isn't a sign that things are crazy, I don't know what could be. There's no one more in America that shouldn't be trading stocks than politicians. What the potential impact to your business would be if we don't have Nancy Pelosi. Yeah, I mean, we would be in trouble. And we're not experts at this. We just think that like... You're just really good. 2.5 million downloads. Wow. Six figures of active subscribers. Our next stage of this and what we're doing is we are partnering with creators. I can't wait for you guys to repurpose all of this content.

0:37I genuinely can.

0:42Chris Josephs, welcome to Sorcery. Thank you for having me. Excited to be here. Thank you for the hat. I feel so cool right now. Is this merch on the site? No, not yet. You're getting them. These are the sample ones. Wow, this is exclusive. Exclusive. We got these ones. And then I guess we can ask everyone which one's cooler. But everyone, I think, originally likes that one. That's the one that is the most popular one in the team side. I like it. I like it a lot. I'm also a little starstruck right now because I know you're just coming fresh off of Tucker Carlson and Tom Bilyeu. How does the fame treat you?

1:14Yeah, making a fool of myself. It's cool because that was the first one that people tag us on social media being like, holy shit, how'd you get on Tucker? The Tom Bilyeu one probably isn't as big. But it's kind of humbling. But I kind of told my team, like, we're not celebrating till Rogan. So it's like, we got to build momentum. We do Tucker. We do Tom. We do Sorcery. We do who knows what's next. This is just the next step to Rogan. You know, I know Rogan, right? Yeah, exactly. When I saw you put the photo up at the inauguration, I did my research. I'm waiting for you to put the plug. All right.

1:50I see why you're on the pod then. Okay. I'm doing my rounds. Well, that's great. We'll get into that a little bit later. but I do want to cover a bunch of things because this is going to be super fun. So we're going to go over the history of insider trading, where the lines blur, retail trends, Nancy Pelosi, for sure, your savvy growth marketing because you guys have been killing it, and some other kinds of strategies that you guys are going after, your actual VC funding and more. What's funny is this is why I love doing these things, especially this like cool more relaxing one not like a tucker one where you got to be political but uh i think the thing that people don't understand about the autopilot side on the vc is like we are fully building a venture-backed like multi-billion dollar outcome company and we just had to build it this specific way because that's how it was working with social media with how fintech consumer fintech worked and it all just aligned very well we got lucky with a lot of things but um we can go over the strategy and stuff like that but it is exciting to chat with you on like a venture-backed founder side as opposed to just purely you run the pelosi stock tracker you know what what did you trade two years ago well that's how i know you i know you from iris yeah the og days the og days yeah and then that's such a fascinating um way that we've been able to kind of take it step by step because iris at the time 2021 2020 was when we essentially started it it was a social investing app and it was like just you could follow your friends trades but and then when the stock market goes down, no one cares about your friend's trades.

3:27It's like, if I'm following you, I don't care about you losing 20%. I want to follow the good people. And at the time, Nancy, yeah, sorry, but you, Nancy, I think will take the crown on that. But she was one of the portfolios that we came up with before we pivoted and she was on the platform. And then everyone was constantly DMing and talking about us on TikTok and Instagram saying, hey, can I just follow Nancy Pelosi's portfolio? That's what naturally kind of evolved into autopilot. And the Pelosi tracker came with all that. But there's a long kind of history and a long trajectory of how it all started with that.

4:03But it did start with like a social investing app in a way to just get notified of Nancy Pelosi's trades, which now turned into, you know, the millions of dollars that is now investing alongside her on the app. And the billions of impressions that you're hitting on social channels. Yeah. And what's cool about that, like on the venture side, again, is you can DM anybody with that account. So it's like we've DMed Tulsi Gabbard. We have conversations with Rokahana. Rokahana has done a ton. He deserves a lot of credit. AOC now is pushing for this. Are they insider trading? Are they not? That's kind of what's taken over the news recently because of Trump's pausing the tariffs.

4:40And we haven't seen anything. Well, I can explain to you how all that works. But it's fascinating and cool the doors that can be open once you're kind of on that scale. And like the other thing, too, that I don't think people know from Twitter is we run an Instagram account with a million followers. It's called the Politician Trade Tracker. And that thing gets, if not more, impressions than Pelosi Tracker on Twitter. Because Twitter has evolved into like it always has been a news cycle. but the one of the downsides of creating content on twitter is it has a lifespan on it so when you tweet about it you're not going to go on the for you page and see a tweet from nancy pelosi tracker six months ago but on instagram and tiktok you can so we've kind of been able to diversify our organic growth away from just pelosi tracker and that's allowed us to scale this thing faster and get the billions of impressions because if we only were on twitter it would it would have tapped out for sure.

5:36So maybe let's start with the history of insider trading and we can get up to the current state and what's going on with AOC. It all started back in 2009, of course, classic. And like what's fascinating and what's crazy to me when I started really diving into this is before 2009, it was the wild, wild west of insider trading. There was no law. They could do whatever they want. And the only reason why the Stock Act started back in 2009, and the Stock Act represents stop trading on congressional knowledge. Literally, the bill says stop inside of trading. If that is the name of the bill, could you imagine what was going on before?

6:14Oh my God. So that's like, it is insane when you really think about it. And also because like average everyday Americans can't do it. But the history of it is it started in 2009 because politicians were lining up their portfolios in anticipation of the crash and in anticipation of the government response to the crash. So they were, it gets kind of murky with the details, but they would have meetings with the Fed and they would, and I think it was Ben Bernanke at the time. And they would talk about the bailouts. And it's like, okay, we're going to bail this company. Are we going to do this? It got passed.

6:46It didn't get passed. And they were just trading on it. And they were allowed to do that because there weren't any laws restricting and requiring them to publicly talk about it. So after that, I think the public outcry started happening and everyone started calling amount what's interesting and a little fun fact on that is um there was a couple everyone supported the stock act they the politicians voted to pass that and in the stock act what it was yeah and that's i think where like the you could start seeing the momentum but in dc everything takes so long the stock act though required kind of two two things and i think it did definitely didn't go far enough but at the time you know i don't know maybe it was good enough uh they all politicians are required to file their trades their spouses and their dependents trades up to 45 days so anything that they trade they have to file and anything that they're like kid trades they have to file the delay i don't understand like why is there a 45 day delay i'd looked into research i tried to figure it out i couldn't find out why and that's what a lot of people are saying today it's like why do you need a delay report before or after after so if nancy pelosi makes a trade on January 1st, she technically has up to 45 days to file that trade publicly.

7:58So she could buy on January 1st and then she can file that trade publicly on, I don't know, February 15th. And it would date back to the day. And it would date back to that. Yeah. So that's how it is right now. So that's how we all find out about the trades. And that's unfortunately one of the downsides of, you know, quote unquote, copy trading, autopiloting a politician because of the delay. And it's valid. It's reasonable. But we do have data on these politicians. They hold for a while. The delay doesn't really affect it too much. In 2024, for example, our Pelosi tracker that we track her filings, not the actual days of the trade, obviously.

8:35And she was up 54%. She outperformed the spy by 30%. There's a lot of data on that that they buy and hold for the long run. But it is still annoying about the delay. The other thing that is kind of the fun fact about that was all the politicians supported it except for one or two politicians. One of those politicians was a guy named Richard Burr. So Richard Burr, if you know the history, and I'm a freaking nerd now, but fast forward from then until 2020, COVID, no one was really trading. Remember, there was no Robin Hood at the time. So like back then when they passed that stock act, it was just essentially just like politicians and parents don't don't trade kids.

9:18You know, they weren't expected to kind of require all these trades because I don't think at the time they were trading that much. The volume was lower. Fast forward to 2020, though, and when COVID happened. And that's when I think the lid kind of was taken off and it ran rampant. the story though on why that became popular and then we can get to AOC is our friend Richard Burr the dude that voted against it he at the time of 2020 when COVID was going on he wrote an op-ed to in the Wall Street Journal the New York Times essentially like when people starting to get worried about COVID saying hey everyone don't worry it's fine we'll be okay everyone stay calm while he wrote that op-ed he is sitting on the head of the intelligence committee and he's getting briefed on the severity of COVID.

10:04And he's now saying like, oh fuck, this is a bigger deal than I thought. I just wrote an op-ed. A week goes by, he personally, and again, this is the politician that voted against the Stock Act. He's one of the few. He called up his financial advisor. Him and his financial advisor, they liquidated their portfolio, their retirement account, a week after he wrote that op-ed telling the world to kind of stay calm. Sold off$1.4 million of his entire retirement account while sitting as the head of the senate intelligence committee so if that's not like early signs of that probably should be investigated that probably is inside of trading like why are you doing that when you just told the whole public that you weren't doing that and you said as the head of the senate intelligence committee there's something there taking a step further though he then two days later called his brother-in-law okay and his brother-in-law then called his financial advisor and his brother-in-law sold off his entire stocks A couple days go by, COVID happens, markets crash, and he saved himself like 30 to 40%.

11:03He got investigated by the SEC and the FBI. That's how we know about these texts. But they didn't find anything. They dropped it, and then he retires and goes off into the sunset, like fully fine, pension and all. But if that's not insider trading, I don't know what is. That's the frustration that happens with watching these politicians do that. Because if that was you or I, we'd be fired. we'd probably go to jail Martha Stewart went to jail for something similar but on a much lower monetization level and she also wasn't a freaking politician yeah a government employee a government employee that's supposed to be there supporting us instead is you know lining up their pockets and that going coming now to what AOC is talking about I think that's we're at this inflection point I think with politician trading especially with Trump with what he did with the coins what he's doing with all the other stuff I think now is the time that a ban could actually be passed.

12:00And with Autopilot, we're fully bipartisan. We will support. We will help AOC. She deserves a lot of credit for that. But I am a bit skeptical that something we'll get through. I think there's a lot of challenges that in more complex, it's much more nuanced than just banning politicians. So to set the context, could you just explain what happened in the last couple of weeks that AOC is reacting to? Yep. So we've all been watching the stock market fall since beginning of January. You know, we rode the Trump kind of honeymoon phase. Everything went up. End of January, early February, things started to fall.

12:35Trump started pushing his agenda on February or excuse me, on April 8th or second. April 2nd was the day. Yeah. Yeah. April 2nd was the day he came out and did the 10 percent tariff across the board. He's like, hey, everyone, you guys are all kind of we're all tariffing everyone. The market hated that. market sold off. Meanwhile, though, while that was going on, the whole world thinks it's ending. Everyone's kind of freaking out. These politicians don't really necessarily know what to do. Marjorie Taylor Greene started buying stocks. So she's the politician. To her credit, she's one of the few politicians that actually files her trades in a reasonable time frame.

13:12So that's how we know that her trades have happened. We don't know about other politicians because of the stupid 45-day delay. But Marjorie Taylor Greene is the only politician doing this, and she's now going to get the spotlight shown on there because it's also Marjorie Taylor Greene. But so she started buying stocks a couple days after that, the second, third, fourth. And she was buying Nike, NVIDIA, Apple. She was buying as well. A couple days after that, though, you remember that Trump then comes out and he's like, he's pausing it. We're not doing this, art of the deal, whatever you want to call it.

13:45We're pausing the tariffs now and the market rallied the most it's ever rallied. Didn't he tweet, buy now? Yeah, yeah. so that's where it even gets more complex because he tweeted that at 9 30 in the morning this is not financial advice this is not by now yeah this is not financial advice but if i were you guys i would buy and it gets even crazy like when you really it's fascinating because it's like he's telling everyone to buy you know whether that's right or wrong but and then he then pauses it if you bought you would have crushed it the stock market went up the most the third most it's ever gone up since World War II.

14:17It went up like 10%. And AOC started calling it out saying like, is Trump doing these things? And then telling his buddies on the side saying, hey, go buy the stocks. I'm about to tweet this. I don't know. The politicians, we don't know yet either. But Marjorie Taylor Greene was one of those politicians that was buying before this. Fast forward to even like literally today, we put a tweet up about the Pelosi tracker because MTG again bought the dip. and most more notably is she started buying the day uh after they paused it the day before and the day after on the 8th and 9th she bought apple she bought qualcomm she bought nvidia amd asml yesterday uh or saturday over the weekend trump comes down and he pauses the tariffs on all semis and essentially apple products yeah yeah the market crushes it again so aoc calling them out i don't see this momentum stopping like bernie sanders was at coachella yeah i don't know if you saw them they're pushing for something that's why i don't have a voice right now by the way yeah and they they did a massive rally in la i think two days ago 40 000 people i don't know why like you know they're they're um i'm not i don't i don't know what the democratic plans are with those two but i am saying like that is a message that will resonate with people um and AOC is smart to embody that and I think people like if the Republicans want to kind of tap into that too they should keep a close eye on this because 86 percent of Americans want them banned I don't know one person that supports them trading that could be a rallying cry and that could be sort of like the the lightning rod for like AOC to actually do something if she were to want to run for president in 2028.

15:58So I guess like between all of that where do the lines blur like where's the blur between this because i know from the financial perspective i've worked at rias before we have to submit stocks we want to trade before we trade them like they all have to be through compliance we go through compliance training my friends at banks they can't trade other banks they're like it's very very strict i know friends at like crossover funds they can't even do like they can't even trade stocks so they they're limited to crypto like so like on the financial side yes we're super super restricted and it makes sense but it's so blurry with politicians because they're getting insider information as well there's like an argument that there's no one more in america that shouldn't be trading stocks and politicians yet they're the ones that are legally allowed to do it meanwhile yeah like to your point someone at an rea like a journalist in new york times can't trade in certain stocks like my buddies that work at EY can't trade as certain stocks.

17:00It's just so hypocritical it's insane. And I think the lines get blurred because it's the politicians that are in charge of making the laws about themselves. There's no incentive for them to stop and there's no incentive for them to kind of make this more complicated. Where this gets interesting, this is where it gets so hard. So the farthest bill that made its way in the Senate was won by Josh Howley and John Ossoff. And I think it was like called the Pelosi Act or something like that. Good name. But this is where it gets complex and scary. So this was back in July of 2024. And it is the farthest, again, the farthest bill that's ever made it.

17:41It got voted by the Senate, I think, oversight committee to hit the floor. In that bill, though, it wanted four things, three or four. One was the politicians had to stop trading within 90 days. Fully get it. That's fine. two members and their spouses had to stop trading by 2027 or 2028 fair give them time figure that out but the third part and where this gets in the vc world i would be very kind of cognizant and keep a close eye on this is the third part of that bill the bill that made it's the far made it the farthest would have required all politicians and future politicians to divest from private investments.

18:20Wow. Yeah. So if you are in, think about at that time, you got AOC, or excuse me, you got Tim Walz and you got Kamala Harris, career long politicians for more or less. Tim Walz didn't own any stocks. He didn't have any private investments. Kamala was a career long politician. On the other side, you got, you know, Trump with all of his businesses, all of that stuff. But J.D. Vance, ex-VC, ex-Founders Fund, you know, invested in Andurl, invested in SpaceX, he would have technically, if that bill passes, I don't know what you do. I think he would have to sell out of all those investments. Yeah. And that gets so complex when you think about like the future politicians that we would want.

19:00I know David Sachs is helping out with the administration and he had to divest. Does that have to do with that? And he's also an investor. Yeah, yeah, yeah. So we're backed by Kraft. Yeah. I've never met with him. I've never talked with him about this. Our partners are Jeff Flohr and Brian Rosenblatt, two great guys um but that's it is interesting because he did it and he seemed to kind of beat people maybe i should ask him yeah he did it before david like with david why are you why did you divest out but the some of these politicians can't you know i i there's examples of politicians specifically as well like yeah to jd vance's credit i think he divested out of his individual stocks he now only owns bitcoin s &p qqq dow and some gold so he is very kind of aligned with america if america wins his portfolio will win but he's not in you know he's not in meta he's not like picking individual winners where the conflict of interest can happen uh that's it is fascinating that um and it does make sense now that i think about it that david did it but these politicians haven't if he was able to do it why can't they do it yeah especially on these bigger things maybe it's because he had access to the liquidity he could find buyers but that bill though still would make you kind of sell out of like if you got a small business you know if you're a farmer in iowa or if you have an hvac company you technically would have to sell out of that too it's like how do you find liquidity on that it's complex so it's hard and you have this is my frustration with me kind of studying all this stuff is i want them banned i want to push for it but I think that is a world where it is more dangerous than the other one so like how do you balance it I don't know and we'll have to see but AOC is pushing for it we'll see how far it gets yeah it's super interesting another fun fact that I learned uh because we had Tarek Mansoor of uh Calci on is that commodity derivatives derivatives uh is technically like not illegal like it like insider trading for that is like technically not illegal if you want to learn more about it listen of the pod.

21:06I don't, you know, he's the expert, not me. But there are so many nuances to this world I wasn't aware of. Yeah. I understand why it's complex, too, because it stills people's money, you know, yada, yada, yada. But I think the broader point that we're trying to get at with Autopilot is, like, we are trying to bring trust back into the institutions. Like, we are very pro-America. We want America to thrive. We want America to succeed. But you can't do that if you don't trust the politicians because distrust in the politicians creates distrust in the institutions distrust in the institutions creates distrust in the government and you follow that and the next thing you know society collapses and i think like we're already seeing that um we think like our small part of getting the politicians banned would bring trust and transparency back into that where at least you know if you may not agree with a politician like you may not like nancy pelosi but your first you know criticism isn't hey screw you for making millions in NVIDIA.

22:04You know, it's screw you for having this opinion. But I think that's a better world than all the bad optics and the frustration and the hypocrisy that comes from them just sheerly allowing themselves to do it. A couple follow-ups from that. Okay, so, but their accounts are ripping it. So could you share some of the trends from that? And then I I want to talk about like what the potential impact to your business would be if we don't have Nancy Pelosi. Yeah, I mean, we would be in trouble. I wouldn't say we'd be in trouble. I'd say our growth would slow. Because yeah, like if I could snap my fingers and they would go away and the trading would stop, I think our entire team would agree to that.

22:49Would it drastically kind of slow down top line growth, slow down probably some of the best ads that we've ever had, you know, even the Pelosi tracker, what do we do with that? That's 2 million followers gone. We would have to adapt. But I think like, even if we can chat, we can get into like, we've diversified away from this. We we've done half a million dollars of creator payouts where we have creators launching portfolios, yada, yada, yada. Well, let's get into that. So how are you diversifying beyond her? So the beauty of what we've done kind of with autopilot is we So our kind of spiel, our quick pitch is we built the first way to take your stock portfolio and follow someone else's.

23:26So instead of you making the decisions on your own and stressing out and being like, what do I buy? What do I sell? You can just find an expert, find someone on the platform and just have them do it for you. at the beginning. And we are broker agnostic. And this is kind of the beauty of what we've been able to do. We've been able to diversify from growth, but we've also been able to diversify from revenue streams where we now have three different revenue streams pushing towards our eight figure ARR. And I can get into that too. But so at the core of it, you can take your stock portfolio, whether it's a Robinhood, a Webull, Fidelity, Schwab, we hopefully are going to have them all and you can connect it to our platform and then just follow someone else.

24:04So right now it's my$20 ,000 Robinhood account following Nancy Pelosi. But at the core of it, that technology is still there. Our mission from the beginning has always been to kind of partly to bring trust and transparency back. But on the product side, it is to find and showcase the best investors in retail so that the masses can follow them. Rich people have access to these strategies that someone like you and I don't have access to. and there should be a world where you democratize that. Yeah. And I think Autopilot can do that. So now our next stage of this and what we're doing is we are partnering with creators.

24:39You know, Unusual Whales is a good buddy of ours. He's a partner. Quiver Quantitative, he's a partner. But the beauty of that is they can go on and they can start a business with this. So we do a revenue share with them, where if you want to go in and you want to follow Unusual Whales, you connect your robin and you connect your Webull and then you can allocate some money to follow him. and then you pay the subscription to get the automated trading. You don't pay for financial advice necessarily. You're essentially like paying for the automated trading of it. He gets a revenue cut of that. And we've been able to now scale this to now where we have nine or 10 pilots is what we call them.

25:12Probably like 30 to 40 waiting to launch. And we've done half a million of creator payouts so far. Wow. So now these creators are starting to build a business on top of autopilot as well. They want to promote it. We're living in their links and bios. that's like the next stage of it of how are they making creator payouts is a percentage of no so it's just pure percentage of subscription okay so like if you have if you charge 30 bucks a month they get a certain percentage of that they don't do we don't do a um fees we don't kind of make it complicated and what's cool is that's how we diversify away and that's how we take the next step that's why we're venture backed and that's also why um i'm excited with the next stage of the growth.

25:53So like if Pelosi tracker turns off tomorrow, I, I read all the tweets. I do a lot of the videos. I'll just start working with them more. That's amazing. That's super cool because we kind of weaved through, let's go back to Nancy and, and those kinds of accounts, like what kind of trends are you seeing within their trades and what are they looking at? So the majority of the politicians that we track, they've all done well because they all kind of typically buy and hold. Nancy Pelosi, for example, since we've been tracking her, we launched it in 2023, beginning of 2023. Since then, she has probably$350 million following her, which is crazy.

26:30She's got her own little mini hedge fund. Wow. It's a lot. And since I think we've been tracking her, she was up like 80 % kind of after this dip. Her peak was around 120%. And you can go see all this on the app, not financial advice, yada, yada, yada, past performance doesn't, whatever um but last year she was up 54 and that's even with the delays so all the people that were following her were kind of being able to ride those coattails up this year she's not doing as well um the whole market hasn't but she has been very much mag 7 so she's been big in nvidia um she's been big in google and apple and then her recent trades at the beginning of the year the two new ones that caught everyone's eye was a small ai company called tempest ai I think they were around like$4 billion when she bought it,$4 billion market cap.

27:18I think now they're at like$8 or$9. So she's done well with that. And then the other one was Vistra AI, another AI company. So Pelosi has been buying tech. And the majority of her portfolio is tech. I don't even think she owns anything non-tech. The other politicians, we follow Dan Crenshaw. Dan Crenshaw, he hasn't traded in a while, but he bought back in 2022. too. And he timed a lot of these dips perfectly. His portfolio is comprised of, um, meta, which for what it's worth, he fully supports banning Tik TOK. So it's beneficial to, to that position. He owns wind resorts. Um, he owns, uh, the spy he owns FIS, which is, I think a, uh, um, a, uh, fintech company.

28:04And he is a little bit more diversified. Uh, another one, and he's crushed it too i think he since we've been tracking him is probably up like 60 i haven't checked on him in a while but the other politicians that we do track the majority of them do outperform but this year is going to be an interesting one because of the different market dynamics um we have mtg up there dan rouser other ones we were thinking of adding we haven't added any yet but that's like the trends that we're seeing they do typically do buy and hold and they typically buy the dip as well. Could you share some of the high level metrics of the business?

28:39I know this is like a hard pivot, but I'll get into it. I just, I would love to know what kind of momentum you've brought with all the like really efficient growth marketing. Yeah. Yeah. So when we launched and when we started, we're a team of four co-founders, me, Brian, Scott, Aaron, they're engineers. I'm a, I'm not even like a marketer I wasn't a marketer at the time I was a finance kid classic finance bro but what I kind of we coined the phrase early on was we wanted to call ourselves social growth engineers and it's like starting to become a thing because I think we realized if you can own the distribution and you know how to create content that can be distributed you can crack the code on social media and you can do this in a way that scales so we launched in 2023 the app autopilot at the time we only really had the Pelosi tracker we have the Burry tracker things like that and we've been able to with just a team of three grow our social media accounts to around like three three and a half million followers and this is across all of them that's what's cool that I mean we spend a ton of time and effort on this but like my personal TikTok has 250k I have another girl she works with me her name is Stas she's a killer her personal TikTok has 150k.

30:02On Twitter, we have the Pelosi tracker with 1.1 million followers. The Burry tracker there has 400k. We have a Buffett tracker there. And then we work with Inverse Kramer, things like that. On Instagram, we have another 1 million followers. And then we have a small thing on Reddit. So we've been pretty diversified across the board. That has allowed us to get a ton of top line impressions. Everyone kind of knows about the pelosi tracker not everyone knows autopilots the team behind it though yeah that was by design because you know no one wants to follow a branded account they want to follow like things that they get value from but we probably bring in like i would say probably like just to be conservative like 70 million impressions a month across all of our stuff wow and that's with a lot of content that we push out, but it's just a team of three.

30:54With regards to downloads and kind of how that's translated into the actual app, we've done pretty well with that too. I think we have 2.5 million downloads, six figures of active subscribers, and then on the AUM, because we're a registered investment advisor, this is all public. What's fascinating, what kind of I'm proud of is people trust us with their money. and it's like we have now half a billion dollars of connected of traded assets so we're an ria with half a billion and what's cool is we have the opportunity to go cross wallet because we have around six billion of connected assets and this is like retirement accounts this is roth iras things of that nature where we don't really have pilots for those people yet but if i have my roth ira and i want to invest in dividend stocks i have to do this on my own i don't want to do that I would rather just connect it to autopilot, pay the hundred bucks a year and just have a professional dividend investor doing it for me.

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31:49So I'm confident and I'm excited that we'll be able to build momentum from current assets of half a billion to connected assets, which should hopefully get us to a billion by the end of the year. And the other kind of cool thing as well is like the idea of the revenue. So we do eight figures in revenue. We aren't public with how much, but eight figures in revenue. It's growing month over month. We've never really had a down month. And what's cooler again is like, we are working with partners that we want to work with, where we are like, look, the Pelosi tracker set it aside. I want to work with unusual wheels.

32:25I want to work with inverse cream or I want to work with like, you know, you could launch a portfolio. You can go on and say, Hey, I want to build an account to get my friends invested. My friends want to invest. They don't know where to start. They'll come and they'll follow me. That's I think where we're building the momentum with that. And what's cool as well, and this is what our team we were never obsessed with, we haven't done a fundraising announcement. So we're backed by Kraft. They've been helpful. Nomad Venture is out in LA. I love those guys. Love them. I was just chatting with James on the way over.

32:59They've been very, very helpful. Yeah. And they were our seed investors. We met them at Bodega. I heard about that. Did you hear that story? Yes, yes, I heard the story. Wait, can you share more on Nomad? Because they're a super cool team. Yeah, Chris and James, based out of here, they do pre-seed and seed, mainly in marketplaces and consumer. Came out of Uber. Came out of Uber, yep. And then, so Chris came from Uber. He was one of the early guys. James was Uber and Opendoor. And they found us and they invested when we were Iris. They did it before the pivot. And I think they were just fascinated and they liked the distribution that we could do.

33:33But they've been very, very helpful. like James works with us on a weekly basis of like how do we scale the team you know how do we how do we have how do we graduate even just from like an app that lets you follow Nancy Pelosi to a broader marketplace like what does that mean how does the onboarding flow work and he has him and Chris have a ton of experience from not only scaling teams at Uber but also doing it in a highly regulated area yeah so they provide a ton of like this is like where I would focus I would not worry about this. I'd worry about that. I couldn't kind of have any more praise than what they've done.

34:08They've crushed it. And again, I chat with them every day. Yeah. I heard the story the other week and they overheard you on a Zoom call at Bodega in Santa Monica and just went up to you after that and just tried to invest. Yeah. And I swear to God, that's how it happened. like we because i'm from boston i know nothing about la i moved out here uh in 2021 i think or 2022 one of those yeah during covid but right when covid started opening up in la right when it started opening up so i didn't want to work in my office in my apartment i wanted to work at a coffee shop so i went and i searched like where do people go work at a coffee shop and bodega was right down the street from me like all right i'll do that one and i kid you not i was on a zoom call or a phone call talking with, it was either my co-founder or a partner, influencer partner we work with.

35:06And I was one of those obnoxious people on the phone. But James from Nomad was right next to me and just tapped me on the shoulder and he's like, take my card. This is kind of interesting. And then a couple weeks later, he wrote us the first check in the momentum to get the seed investment done. Who knew Bodega was the blue bottle of LA? It really is, yeah. I mean, if I were to go and try and kind of meet investors, that's probably where you go. Because Indreason just opened up at the Promenade. March Capital is right there. Clock Tower Ventures is right there. Up front, they're still there. That was like the hub of Santa Monica.

35:46I think it might have moved to the proper, but maybe that's my own bias. Oh, did they? They went there? Because I go there all the time. Yeah, I was on a pre-seat. I couldn't afford it. I was doing my, at Bodega, you can buy the unlimited coffee. Okay. Yeah, that's important. That was important. Yeah. And they would open up. So I'd be there early. I would have my little spot in the back. Yeah. I love that place. $20 bottles of wine on Wednesday. Sponsored by Bodega. Sponsored by Bodega. Yeah. So to go back to the business and the growth between the channels. You guys have laid out a really efficient growth marketing strategy for the company.

36:28I'm really curious to go into that a little bit further because we have founders, we have other investors, we have a really diverse audience. And I'm sure a lot of them would be really curious what your growth hacking techniques are, anything that you'd be comfortable sharing. Yeah. and I've done this mistake where I like we got competitors now that are doing the whole copying us so I can't tell us but you know but I can say like the thing that people I think and we're not experts at this we just think that like you're just really good yeah I would just say we get it's not that we get lucky we picked the right we picked the right trends so like last week if you remember we saw the Ghibli trend going on and this kind of this is a brand thing this isn't a uh this didn't drive us growth but we saw the brand the ghibli trend going on and since we've been kind of deep in it olivia more from injuries and horowitz posted that funny little she turned the office of the um the chandelier it's like want to know my perfect steel i do this xyz do you know this scene from the office no if people know they know but so there's a scene in the office where dwight talks about you want to know my perfect steel like i steal the chandelier i don't do this i do that and then And I go to like, I can't remember the whole thing.

37:44But she was like, it's cool because now you can use AI and you can turn these videos into kind of Ghibli style things. Yeah. And when I saw it, I was like, that's a funny little script. I think this trend is kind of working for this week. Let's recreate this trend, but for politicians. So what we did was we figured out how she did it. And then we created that version and we called it the perfect trade. So it was like, it was Nancy Pelosi. And you could search this. that's on our autopilot page but it's like nancy pelosi being like want to know my perfect trade like i get the information at 348 i buy it and it's like do i buy apple no i buy i saw this this was so funny yes yeah that one and then we kind of were able to growth hack it we posted it on twitter that got three million impressions there everyone was loving it posted on instagram it gets another million impressions there someone else posted on instagram that gets another million impressions there.

38:40So like at the end of the day, that video that took two hours got us 5 million of organic views, a lot of brand equity. People like that sort of content. The lesson that I think like was interesting is if you pick the right trends and you kind of do them the right way, they cannot be good and they can't really be great. They have to be like 10 out of 10 shareable, fun, creative, something that really, really catches your eye where if you do try and hop on that trend and it's not to that degree, you'll end up kind of like actually hurting your brand and making it not as cool. Another example is with AI, we have these GPT portfolios.

39:19And back in 2022, ChatGPT was the talk of the town. We were like, let's give it 50 grand, have it invest for us and see what happens. We made that account on Twitter, tweeted about it. It got 130 ,000 followers in a week, something crazy. And we literally did give it 50 grand. But the beauty of that was on social media, that's not even necessarily a branded piece. That's just what is ChatGPT going to buy? But it worked well with our product because we could put the portfolio up on autopilot. And the call to action there, the organic way is like, we're giving it 50 grand. But if anyone wants to invest alongside it, you can go to autopilot.

40:00you can download it, you can check it out. That got us to top 15 in the app store. And I think now we have$40 million following that GPT portfolio. So that is another example of like, we picked the trend right. And we executed the launch of it in the right way too. How did this lead you to get on top podcasts, like we mentioned earlier? Yeah, a lot of momentum. I think that stuff took a long time. So we have, we don't have a PR firm we don't have a PR team I think we might do one now but it's just been me DMing people on Twitter and then them eventually connecting with us where the way that the Tucker one worked was we made just good quality content on social media and then eventually someone from the one of the administration's teams then connected me to Tucker and it was like Tucker I think would be interested in having you on the Tucker one we did and then we got a couple more intros to a couple more.

40:59I've been chatting with Tom Bailu for a while. Um, but a lot of that was just sheer grinding and like we get on the news pretty actively too. So we have now the relationships and like, if we want to go on Fox news, we could, um, we've never been invited by CNN or anything like that. It's only Fox news, but, uh, that a lot I think is momentum and high quality content. Like you cannot underestimate high quality content and how far that can get you. What kind of metrics do or KPIs do you shoot for with the content? So what's funny is we don't really track too much of it. No. No. I think what we track is just like what content can we tell a story around that can at least drive views and drive impressions and drive downloads eventually.

41:49There's a, you probably see it on twitter all the time all these kind of young kind of they call them cracked out engineers growth hacking tiktok with the faceless videos and yada yada yada and that stuff works but that doesn't necessarily really work for a financial product where you want to build trust you want to build um a relationship you know you're not going to go and put 20 grand in an investment product because you saw a faceless photo on tiktok you're just not uh so every view that we do and everything that we try and do like on the content side it's one can it drive downloads we don't really care too much about making a piece of content just for the sake of making it we want to have it because we spend a lot of time and effort into building it we want to make sure that content is actually built to work and drive downloads and two we want don't want um uh what was the word we were using the other day like we don't want like a wasted or like a valueless impression or it's like okay cool someone saw your video but they don't know that it's autopilot and it doesn't really do anything for you that's just like a vanity metric so we don't we don't really track followers we don't really track impressions we have a general sense of it because we have to share it with our investors but um we're not every month being like we got to hit a billion impressions you don't have a content team that's grinding every day, testing out five different thumbnails on things?

43:13No. Maybe we should. You don't have a team in the Philippines? No. And we get pitched it a lot. Yeah. We don't. And I think partly it's compliance. So you've got to be very careful with registered investment advisor. Need the disclosures everywhere. Need to know which battles to pick. But no, we don't have a... It's just me, Stash, Gannon. he's another creator for us and he does a lot of other stuff too um but it's the person behind the camera mostly is just stash and i wow super impressive yeah it's just two of us and she's better at tiktok than me can't wait for you guys to repurpose all of this content that's we i genuinely can so that's the other thing too we have a whole team that we're starting to dive into that where we repurposed um this is like these aren't philippines people and they're not making content so i wouldn't say that they're like a b testing a million things yeah but we have a uh we're working on a clipping army to some degree um we'll see if it works yeah what yeah i am so excited i want to try it so bad you should it's built for this it's not built for like like we know their team they're awesome and i think it's so smart they did the drewski thing they did um that other random creator that i didn't know but as a million millions followers yeah uh it works source content like this um but i think it for a finance product it consumer investing like app finance product um i'm gonna see like if it can scale and if it can actually kind of work because again like i don't necessarily really care about um valueless impressions yeah where it's like i'd rather spend my time and like that costs money i'd rather spend make sure the cacks are going to something that can drive revenue or uh downloads not necessarily you know yeah that's It's actually really interesting, because financial media and memes, my voice is so cracked, have created that meme stock rage and all of that kind of trends -driven, hype-driven retail investing.

45:21and then we also have the tools that we can use it. We can use Robinhood. We can use all these different platforms. We can use Autopilot. We can use these different kinds of resources to buy into it. And the democratization of finance and retail investing is like a completely different world than what it was like 10 years ago because of social media and these fintech platforms. I'm curious, do you have any opinions on this? Where do you see that going? Yeah, what's cool for me in my shoes is I think like two things before I answer that is, um, one, since we're bipartisan, like everyone agrees, 86 % of Americans agree they shouldn't be allowed to trade.

46:03So we see a lot of, you know, the different sides. Like if we're posting, like this morning, we posted about Marjorie Taylor Greene, half the comments are like, why are you not calling out Pelosi? And then, you know, when we're calling out Pelosi at the comments are like oh well the republicans do it too so we really do see like how divided and how scary this could be if we don't kind of all understand like the severity of where this stuff can go um with regards to the actual platform too on instagram it's a much different community and a much different source piece of content that works compared to uh twitter and then tiktok is authentic you can't have green screens you know that stuff won't work all that will work on tiktok is just getting behind the camera um where i think it's going though i think that retail investors and just generally like people uh we're only getting more and more online and i think the scary part about that is your emotions are going to get big i think people for better or for worse, social media makes you feel important.

47:07And it's like, okay, if I am this random person from, you know, Miami, and I can post on Twitter and get a thousand likes. Miami. What a dig. I know, right? Yeah, I know. I was thinking about which one to do. I was going to say like somewhere else. Miami, I could see this because that's, I think this happens a lot in crypto world. And that's, I think, like the point of you got to be careful with like where does social media lead. You lead to a lot of hype. You lead to a lot of emotion-driven stuff. You lead to people selling out too early. You lead to people fighting each other. And I think crypto, since it was the wild, wild west, I think it's getting better now.

47:43We saw what that could mean and where that can go. And I think with social media in general, if you want to run ads as a finance product, you need to have the right disclosures. You got to be approved. You can't do it unless you put your address in these things. And I think that is the right direction because if you allow anyone to go off and just kind of launch their own stuff in the investing world, you're going to run into a lot more scams. And the data here is clear. Senior citizens got scammed at the highest rate in a while, something like$2.5 billion. And I think that's social media. How else are they getting it?

48:18Maybe a phone call? AI. AI is a big one too. Yeah. But I get hundreds of DMs on our accounts with people trying to scam and people saying, hey, you scammed. on vc world uh there's people in i i heard this story but there's people that are saying that they're selling shares on like craigslist of these private companies so you know how like republic does their um fundraising rounds and stuff like that yeah like spds and yeah you got to be careful with there's people scamming people with that where you think you're buying shares of autopilot from, I don't know, Craigslist or wherever. Yeah. And you end up, it's just some random dude, you know?

49:01That I think is where social media has to be careful. And I don't know where it's going to happen. I don't know what's going to happen with it. But I have a lot more thoughts on like the broader aspect of social media. But what do you see? Because it's like where we both grew up with social media. We've seen the ups and downs. I think we're probably more on Twitter. Like I'm personally more on Twitter than Instagram now. Yeah. But at the time, when I was 22, I wasn't. I was barely on Twitter. And my younger brothers, though, I have two younger brothers, they're not on either. They're on no social media.

49:33Really? None. That's crazy. How old are they? One is a senior in college. The other one's a senior in high school. Why? I just don't think they wanted it. I think there might be an inflection point where people are just so sick and tired and annoyed of social media. They know it's emotional. They know it creates divide, division. and it there's not much good that comes from it if you're chronically online with it and I think you know to my brother's credit they didn't see the value of having it so I don't think they just created one especially even like my brother's been to college he's got his girlfriend he's got his life he's a cracked out engineer kind of he loves his stuff he's gonna do well for himself kind of thing he doesn't need social like what is social media gonna do for him you know yeah Yeah, that's really interesting.

50:20I mean, I think the biggest things that I watch with it is I think the advent of social media has just perpetuated faster news cycles. And so whenever we have market turmoil and extreme volatility, like we saw in the last couple of weeks, like usually you're reading a paper. Like, well, not usually, but like back in the day, you would read like the newspaper and you'd see where the stocks are and how things are going and what kind of news is happening. But we're getting news like by the minute, by the second and real time. And they're just it's just going faster and faster and faster. And so I think a lot of the financial cycles that we'll have are really fast and like hopefully correct faster.

51:07but we'll have like and we're seeing this like greater dips like greater rises um based off of these things and just creates a lot of volatility and you know what's scary about that is uh if you are you and i were retail investors right like you know this is not financial advice i got to say this for all of our compliance stuff so you can't kind of go off and just do this because of what i'm saying but um i was working on a tweet i'm working on a tiktok right now that explains this in broader detail and i think like autopilot is gonna it's gonna be a plug for autopilot but um the reality is if retail investors if you sold out in kind of dips and you missed out on just the 10 best trading days of the year like if you were just not invested in the stock market for the 10 best trading days of that year your annualized returns are something like seven percent below what they should be so the average return annualized i think the the study I was reading was from like 1989 to 2024, the average annualized returns were something like 9.8%.

52:05If you missed out on just the 10 best days, your returns are 3.3 % annualized. So you're way down. If you missed out on the top 15 trading days of the year, you actually lost money that year. So the stock market could have been up 10 % that year. But if you were selling out of emotion, you were trying to time it, you were like, oh God, the world is ending. And then next thing you know, tariff gets paused. and then the market crushes and you miss out on that day, you're missing out on the gains for that year. And that's, I think, the thing that retail investors, I'm going to try and educate people on this, but I'm not an expert at this.

52:41I don't really know. But trading on emotion is risky. And especially with more of these products commoditizing and demarketizing access to them, where it's like, who knows? Maybe five years, you'll be able to trade your 401k in individual stocks. maybe you'll be able to put your 401k in private stocks you know Robinhood with Vlad they're doing a lot of stuff to bring things on chain they launched with Tarek from CalShare they launched prediction markets prediction markets that's like are people selling out of Apple to buy you know Florida's gonna win the national championship and I think it's good that they're democratizing access to it what I do worry about is I don't I think retail investors we are emotional and we're short-term thinking where, you know, it's just human nature.

53:30That's just how we are. We have to be careful and we got to be cognizant of that. And we need to understand the ramifications if you do trade too much on emotion. And with autopilot, I think what solves it is like... Set it and forget it. Set it and forget it. Yeah, it's like, imagine you're following Nancy Pelosi. You can sleep, like if you're up 20%, hell yeah. But if you're down 10%, if you are doing it with Nancy Pelosi, you can sleep at night saying like, okay, well, Nancy Pelosi is down 10 % too. I think I'll be fine. And she didn't sell from what we know, but I know that she typically doesn't sell these options early.

54:07She trades options. But a lot of these politicians didn't buy and sell too much into the volatility. And again, if you sold out after Trump announced Liberation Day, you missed out on the 20 % gain. Palantir's stock, for example, since he tweeted and the market fell, it's up 40%. in that in the three week period and if you sold out you know that was already on the run and that was already on the run yeah it's already back up to 98 robin hood stock went down to 35 and it's just too hard to time it as a retail investor yeah um that's one final thing that i would say that i'm thinking a lot about like how do i make sure that our autopilot app isn't creating emotional buying and selling to the degree that the clients lose out on money right Right.

54:52It sounds like a couple of things I heard from that are buy low, sell high. Yep. That's the goal. And set it and forget it. Yep. Yeah. Buy low, sell high, set it and forget it and go live your life. Go live your life. It's like, why are you even worried about Bitcoin falling? But if you want to have fun, go to Calci and trade on White Lotus maybe. Yep. Yeah. And Calci, Polymarket, I like them both. I use them both. yeah because calci also just launched with webel yeah yeah so like they're really they're smart to go the uh they're just doing like the uh access i think what they're doing is good too again going back to this trust and transparency thing yeah like the world doesn't trust the media anymore they're essentially rebuilding trust in media where it's like okay you're telling me that xyz is going to happen let me go look on calci and if calci is saying it's not now you instantly just have like who's right who's wrong and my bet is calci is going to be right more often than not because it's like that's just the way of the land that's that's how predictive markets work so i think it's awesome that they're pushing for this and they're adding in um a layer of trust and transparency into a world where you can debate all you want on social media you know you can argue with trump you cannot argue with trump it's all noise like the prediction markets hopefully can cut through that and actually bring some clarity and trust back into the whole thing so i'm curious and this kind of goes off of this topic of the other financial fintech companies, but maybe outside of those within your product itself, like how did you get the intuition or the kind of quality that you want to build to become?

56:42What are examples of like other companies or products that you use that you really like that inspire your product? Yeah. So Brian, my co-founder, he deserves a ton of credit for this, where it's like we kept things simple um and i think a lot of that had to do with you know for better for worse we're comparing ourselves to apple like apple's copyright like our team thinks about that forever where it's like a thousand songs in your pocket there's just nothing better than that like one line that can describe everything what they do but the core thesis and principle of what um of what apple was was simplicity minimalism and on the product side they've done a great job at keeping things simple, keeping things not kind of convoluted.

57:26We want to get access and like allow you to start trading in the most convenient way as possible. So like, what does that mean? That means going through KYC faster. That means like getting less and less buttons, you know, things like that, the faster you can get to the magic moment. You know, I think things like Duolingo helps with that. Like I use Duolingo. We don't gamify our finance stuff much, but But them with A-B testing, that's a big kind of company pillar on the product side. So I would say it's keeping things simple because of Apple and A-B testing and the fun humor kind of vibes from what Duolingo would do.

58:04Those, I think, are probably the two. And also Robinhood. Robinhood, I think they're the poster boys of organic simplicity for a financial product. but they're probably getting a little bit complex too because I think they know. Yeah. Yeah. So, and then I think Calci is another one and like the one that too that we use in the backend is Brex. Oh, you use Brex. We use Brex. Okay. Yep. So it's like we get inspiration from the consumer side on like the Robin Hoods, the Weebles, the Duolingos, the Apples but on the B2B side, we use Brex and it's cool to see the simplicity of kind of how they do the different expenses and they can kind of break it down because what we're building on our side too is like a pilot portal yeah where like if you're a creator like unusual whales you can't use the app you need to have your own portal you know you can go into the autopilot portal and make your trades and do whatever a lot of that inspiration i think comes from brex and their team they're super data oriented right so it's like a whole dashboard yeah and they're simple like that's i think like people come make these things too complicated yeah and it's like just you know i just want five or six answers you know i don't need to have a billion different tabs i need to have a billion different options just find out what you want find out what i want and brexit does a good job with this and then like don't distract me from that you know don't make it harder for me to originally do what i want to do with steps i don't know if this is the right move but we haven't been very public about like the fundraising and things like that yeah do you want to talk about that a little bit more like yeah when did you first receive funding how did you you know you wanted to get the next round yeah who did you raise from how much in total yeah and when we started we never saw like the fundraising as like a set of accomplishments we saw it more of just like this is what we need to be able to get to the next step that's why i don't think we've done a public um announcement yeah so yeah parade or anything we haven't been on the tech crunches or anything like that and we've done three different but you will have an exclusive on sorcery the next round that's so that yes if once we do that we're coming to you we're coming to you thank you yeah yeah yeah that's a good one because we haven't done an a yet so like we're at eight figures in revenue and we have like growth funds hitting us up but i i we don't need the money you know we're in a good spot um we've been pretty capital efficient too but like to date i think we've raised around six or seven million okay um we've raised from craft craft is like probably our biggest traditional um venture fund nomad from james and chris they're awesome they've done two rounds with us um next fund out of florida small guy um but he put in a good amount he bet on us when we were at the iris days he deserves a lot of credit and then a pre-seed round back in 2020 with um billy draper from um path vc he's been cool um incline ventures they they were the guys behind um can't remember um tidely they they're like they're building out like software for churches i think it's a cool business oh wow it's smart yeah it's like one of those non-sexy businesses that needs to be uh brought into the 21st century churches know how to make money churches know how to make money yeah and like what's i go to my church in santa monica and like they still expect me to carry cash around yeah i got dude i don't have cash Put it in the basket.

1:01:24Yeah. I got none of that. It's like, just give me a Venmo little button. Oh, God. So they've been great. And that, I think not raising a lot has helped us get to where we are now. Because if you give a creative team a massive budget, and again, I do the creative, so I'm just speaking on our behalf. But if you give a creative team a big budget, they naturally and instinctively are going to cut corners around creativity. to drive growth. It's just natural. And we've had a little bit of this where we've test out paid marketing, we've test out performance marketing. Never done influencer marketing, but...

1:02:03You are the influencers. Yeah, we rebuilt our influencers from the ground up. That's a good way to put it. But are we going to do an A? Probably. I don't know how much we'll raise. I don't know what we need. But we also need the right partner because it's fintech and it's... You know, whether you like it or not, it still is sort of political. So we're waiting for the like we're having conversations with all of them do you run into troubles with the political standpoint no no all of our investors have fully backed it okay and like i've even kind of i've gone back and forth with a couple of them being like hey you know i'm gonna go on tucker i'm gonna do you know i'm gonna tweet this i'm gonna tweet that and they're like yep fully support it like they've all been about it they've always kind of been a little bit like understand the downside of it like with tucker be careful because you know i think tucker was great he was the first person that ever gave us a long-winded conversation and he was a like springboard for the conversations like this yeah um but there there still is downsides to it like when we posted on instagram you would get the comments being like i can't believe you're talking to tucker and it's like relax you know um but our vc our uh investors have been very supportive 100 he does great interviews i listen to them and sometimes i tweet about them like the one with the casey means i was like you know don't hate me for tweeting about this but this is incredible and like really good data so i'm going to share yeah exactly yeah and like he'll have people on that you won't agree with and it's like look it's just a podcast it's not like it's it it's not the end of the world and like where we we fully will go on trevor noah we'll go on the late show um with um john stewart john stewart had a oc on like we'll fully go on all of them because again like i will die in the hill that we are non-political we are very bipartisan we call out more republicans probably than democrats but we just have the pelosi tracker name that i think people are like oh you're you're just one of the spicy yeah but it works and i i also do think it's creating change i don't think we the movement would be here right now if it wasn't for just the hypocrisy that there's 350 million dollars literally following their trades like if that isn't a sign that things are crazy yeah i don't know what could be right so like being able to publicly talk about that i think has brought the entire movement forward so what are you looking forward to most in this next year and what are the goals that you're trying to hit i am excited to take on the next um like evolution with autopilot where i think you know again like i don't think that we're some world-class 10x you know 100x marketers i i genuinely do think like on the marketing side we got lucky with just how polarizing and how well pelosi did you know um so i try and stay humble on our team to be like look we really haven't built anything massive yet we still got to get to that but the next stage of it is where like the money can be made the actual change can happen and the product side they'll fully understand it the back-end team and the marketing team we're all in the same um wavelength with that and like the analogy we like to say is uh like with pokemon where you started out with charmant charmander and then you go to charmeleon and you go to charizard like we were pelosi tracker is charmander pelosi tracker is like autopilot let you copy nancy pelosi that's charmander we got to take on the the the next uh like evolution of it which is partnering with creators allowing them to build a business supporting them you know one of the businesses on our platform makes over uh like easily over six figures a year and it's just like they're putting stuff up we don't want to be too public with the numbers but um these guys are doing well and like there's random people on twitter that you've never heard of that are making seven eight nine k uh a month in revenue um that's i think like where the fun part can really really start and it's a challenge though it's not it's not for the faint of no that's probably the wrong way to say it it's not it's hard to give up the success and kind of turn the page on what's worked for you to a brand new slate of like this very well could not work right you know the markets could fall 40 that probably is not good for us but that's not good for everybody it's like so what do we do how do we survive do we have to do a series a do we want to hold dilution do we want to take a strategic investor do we want to allow people to launch more and more portfolios.

1:06:31That's all going to be found out in the next year. And I get excited by it because it's the challenge of like, we'll see, we got to put our big boy pants on and rip the band-aid and see what happens. Right. That's super exciting. Chris, thank you so much for coming on. Thank you. Thank you for the amazing hat. Yep. So excited. One of one. I'm going to wear it everywhere. Yeah, do it. All right, well, thanks for coming on. This was a pleasure, and I'm so excited for you to share it all over the internet. Yep. Yep. Next thing is Rogan. No. Rogan, he's coming for you. Yeah, we'll see.

From the publisher

Chris Josephs, Co-Founder of Autopilot, dives into the intricacies of political insider trading, the venture-backed journey of Autopilot, and their innovative growth strategies. Chris discusses the evolution from their social investing app, Iris, to launching Autopilot, which allows retail investors to follow top investors' portfolios. 


We explore high-profile topics including Nancy Pelosi's trading patterns, the history and nuances of insider trading laws, and the potential impact of banning politicians from stock trading. Discover the secret sauce behind Autopilot's viral growth, their creative marketing tactics, and what lies ahead for the company as they partner with creators to further democratize investment opportunities. 


Whether you're an investor, entrepreneur, or simply curious about the intersection of technology, politics, and finance, this conversation is packed with insights and actionable takeaways.


DISCLAIMER: Not Financial Advice. For entertainment purposes only.


Follow Sourcery for the latest updates! 

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Molly on X: https://x.com/MollySOShea

Chris on X: https://x.com/Chrisjjosephs


TIMESTAMPS:


00:00 - The Hypocrisy of Politicians Trading Stocks

00:42 - Introducing Chris Josephs of Autopilot & Nancy Pelosi Stock Tracker

02:03 - The Evolution of Insider Trading

05:43 - The Stock Act and Its Loopholes

08:58 - The Richard Burr Scandal

11:45 - AOC's Push for a Trading Ban

21:21 - Autopilot's Mission and Growth

36:15 - Viral Growth Marketing Strategies

39:15 - Challenges and Opportunities in FinTech

40:19 - Navigating Media and Investor Relations

45:43 - The Future of Retail Investing

59:34 - VC Fundraising and Business Growth

01:04:26 - Exciting Plans for the Future


#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley

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