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Vise's two co-founders, both 23, launch 'hard reset' -- still with $78 million and a six-year runway -- to no-'hallucination' AI business model where RIAs can opt out of artificial intelligence

The two co-founders in New York City spawned magical thinking about AI, but hard experience means they are the clear-eyed ones now, they say

Author Oisin Breen May 23, 2023 at 8:25 PM
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Runik Mehrotra (left) and Samir Vasavada: We've spent a ton of time with these things … [to] verify they don't hallucinate, telling you things that are completely wrong.
Brooke Southall and Keith Girard contributed to the editing of this article.

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Vise falls way short of $1 billion projections after RIAs balk, but venture capitalists promptly reward fledgling with $1-billion valuation -- based on $5-trillion vision

The New York firm gets $65 million six months after it raised $45 million by going straight at the $5 trillion of high-net-worth assets managed mostly by big RIAs with software that listens to RIAs but does all their work.

June 8, 2021 at 2:56 AM

Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say

The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.

December 31, 2020 at 4:37 AM



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