I think they're onto one of the next big models: democratizing knowledge that's been traditionally gatekept, hard to reach, understand, or make decisions with. I'm fascinated to see where products like this end up.
Not sure that putting a non-deterministic black box with zero scrutability and unknown biases in the hands of people with little understanding of financial markets and investment instruments counts as “democratising” anything.
Lots of folks are going to blindly follow what the magic “make me rich machine” says. This sounds like a faster way to part fools from their money.
Hey HN! We built Paperspace (YCW15) and we are super excited to announce Autonomous. We just announced our $15M fundraise to build the future of financial intelligence.
Why do we think now is the time for Autonomous? Millions of people already ask AI about their finances, but there's no Cursor-style "apply" button and it doesn't run continuously. The technology finally exists to deliver institutional wealth management through AI.
Wealth management generates ~$250B/year in advisory revenue, with human intermediaries extracting massive fees without creating proportional value. It feels like a pre-Robinhood brokerage world: entrenched, expensive, structurally misaligned.
We are following the neobank playbook that companies like Mercury and Ramp used in traditional banking: replace brick-and-mortar with elegant digital experiences.
I think they're onto one of the next big models: democratizing knowledge that's been traditionally gatekept, hard to reach, understand, or make decisions with. I'm fascinated to see where products like this end up.
Not sure that putting a non-deterministic black box with zero scrutability and unknown biases in the hands of people with little understanding of financial markets and investment instruments counts as “democratising” anything.
Lots of folks are going to blindly follow what the magic “make me rich machine” says. This sounds like a faster way to part fools from their money.
Such an opaque industry. I love democratizing it. Great use of data network effects and AI effectiveness.
Hey HN! We built Paperspace (YCW15) and we are super excited to announce Autonomous. We just announced our $15M fundraise to build the future of financial intelligence.
Why do we think now is the time for Autonomous? Millions of people already ask AI about their finances, but there's no Cursor-style "apply" button and it doesn't run continuously. The technology finally exists to deliver institutional wealth management through AI.
Wealth management generates ~$250B/year in advisory revenue, with human intermediaries extracting massive fees without creating proportional value. It feels like a pre-Robinhood brokerage world: entrenched, expensive, structurally misaligned.
We are following the neobank playbook that companies like Mercury and Ramp used in traditional banking: replace brick-and-mortar with elegant digital experiences.
Also we are hiring across multiple roles in NYC and SF —> https://atg.science/
Dope tek