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On The Chain – Blockchain and Cryptocurrency News + Opinion
Podcast name
Will Rush
Guest
CRYPTO Investing Made EASY – HELP GEN Z – with Stack founder/CEO Will Rush
Episode
Chip and Jeff
Host
March 3, 2022
Date
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Quotes 🗣
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“Crypto can be used to introduce investing to young people and educate them on their finances.” – Will Rush
“Our app is all about fighting through those early financial lessons and forming habits that will stick with you for the rest of your life.” – Will Rush
“I think that the crypto world has so much opportunity to get people excited and involved in financial products.” – Will Rush
“The biggest mistake you can make with teenagers is infantilizing them. They are incredibly smart and conscientious and will shock you with their capabilities.” – Will Rush
“The hardest thing as a founder is to turn your brain off from all the different features that you want to add and just focus on getting the app into people’s hands.” – Will Rush
“When you create a product to teach a teenager, you’re actually creating a platform that’s for everybody.” – Will Rush
“Gen Z is a huge focus for a lot of products. People are trying to tap into this market, and when you look at it, you’ll understand that these kids are different.” – Will Rush
Article Summary 📝
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CRYPTO Investing Made EASY – HELP GEN Z – with Stack Founder/CEO Will Rush
In this episode of “CRYPTO Investing Made EASY – HELP GEN Z – with Stack Founder/CEO Will Rush,” Will Rush speaks with the podcast hosts Chip and Jeff. Rush provides his background and his experience in the financial world.
He talks about how he came upon the idea of Stack and how it all started. Rush highlights that teaching teenagers how to handle their finances early on could be the answer to helping them achieve financial security as they grow up.
In this episode, you’ll learn about:
- Will Rush’s work history and how he came up with Stack
- Why he decided to create a financial app for Gen Z users
- How he overcomes his challenges as a founder and CEO of a new app
- How Stack works and how it engages its users
Good Question & Answer 1:
Jeff: If you were to take your experience in finance, what was the one thing that led you to say it’s all about crypto? What was that transition point?
Will Rush: I think it’s because many UX/UIs in the world of FinTech still look like traditional finance apps. No one had made something that was exciting.
We could use Robinhood as an example where the company developed a billion-dollar business simply by reinventing a product to make it mobile-compatible. As a crypto native, you get to appreciate things like these.
With user experience, it’s like steering a cruise ship where you can only go one degree at a time in a single direction. After diving deep into this world, it’s like being a two-person sailboat where you can see and move in any direction that you want. And you can be native to this kind of world that we’re living in.
So I think, just on its own, is the kind of Zeitgeist that we’re after. It’s bringing that excitement and getting people that don’t traditionally invest in financial products to be part of crypto.
I feel like crypto is one of those rebel brands right now – it’s kind of like Apple in the 80s. I really think that the crypto world that we’re living in has so much opportunity to get people excited.
And you can start getting involved with just $10 or $20. It’s a great way to get crypto.
Good Question & Answer 2:
Jeff: Have you thought about integrating play-to-earn within the platform? If so, how exactly would you see that working out if that’s something you plan to do?
Will Rush: Oh my gosh, I think there is an ocean of possibilities on that one. I think the hardest thing as a founder is to teach your brain to turn away from all the different products, features, and worlds that you want to add. So I really want to just focus on getting this app live and available in people’s hands.
But I think integrating play-to-earn in video games just comes out naturally. It’s the place you go to, especially with our access point being people under 18 years old who want to run their own digital wallets.
As a teenager, I wanted to buy video games, so it makes sense to have that option at one point.
In general, the crypto market can be used to invest in a product and use it for B2B, smart contracts, and purchasing things in the metaverse. I believe we’re going to see the next level of adoption for these things. It’s only sensible to consider the banking functions of crypto and digital wallets.
At this time, it’s all about showing people how much fun they get by saving money and investing in finances to get them involved. It could encourage someone to invest $20 of their summer job money and put it in a Stack account. This should definitely get them started and encourage them to stick around in the long run.
Additional Topics Discussed:
- The future of stack with other digital currencies
- The monetization model of Stack
- Long-term pricing tier for Stack
Host/Podcast Bio:
Chip and Jeff host the podcast “On the Chain” as a way to share insights with others about the blockchain and digital assets. It also includes news on cryptocurrency as well as their opinions with a focus on XRP.
In their podcasts, the hosts ask questions about how people see the blockchain and crypto and what applications are expected in the future.
Guest Bio:
Will Rush is the founder and CEO of Stack. For the past decade, Will has worked with seven different billion-dollar securities and banking agencies. Will felt that the industry focuses more on access compared to education, leading to most new investors failing when starting out.
He invented Stack to begin teaching young people the foundations of finance principles, so they can adopt habits that they can use for the rest of their lives.
Resources and Links Mentioned in the Show:
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