Dave Lukas Chats with Mathew Nemer
198: Changing the Way We Think About Investing with Linus Founder, Mathew Nemer
This week’s Misfit Entrepreneur is Mathew Nemer. Matt is the co-founder of GetLinus.IO, a fintech company that is changing the game when it comes to what banking is and getting great returns on your savings. Linus pays over 57 times that national average interest on clients’ accounts and is able to do so by taking advantage of blockchain technology and the decentralized, digital asset credit markets. Don’t worry if that went a little over your head, because Mathew explains it a lot better and simpler than me.
The important thing I want to discuss today is the future of banking and finance and how companies like Linus are at the forefront. And we are also going to discuss how Mathew was able to get a rag tag group of IBM’ers, former founders, and top software execs to join his crew and make Linus a reality.
Matt’s career was launched in 2008. He started with a wealth management firm/hedge fund and hustled to make a name for himself. With all the carnage happening in the markets, he knew that the firm probably wouldn’t keep him, so he went to grad school and finished tops in his class. He worked at Chicago Board of Trade during school in the grain pits.
He then worked at Morningstar in 2012 as analyst. He started his first startup in 2012. As he says, he didn’t know what he was doing. It didn’t pan out. He then moved to Nashville and took a job with Vanderbilt University. It was at this time, he started to learn about Blockchain and Bitcoin and started following it.
In 2016, he noticed that BTC Media was gaining steam and Bitcoin meetups were becoming more common. He started doing work on the side for people doing ICO’s to get his feet wet. He then worked for BTC Media as their CFO. He was recruited by some other companies in the space and pitched an idea to one of them and landed with a crypto wallet company. This is where he met his business partner, who worked at IBM in the blockchain area. They were working on ideas on the side and decided to build the idea of Linus on their own. They got funding and put the pieces of the team together.
At the 10:30 mark, Matt and I discuss our current money system to set a baseline for what he does at Linus. (It’s best to just listen)
How does Linus work?
Break it down for us all to understand…
How do you address that you are not FDIC protected, etc.?
At the 27 min mark, Matt talks about risk and the “efficient frontier.”
What else should we know about blockchain and the emerging digital ecosystems?
At the 34 min mark, Matt shares the example of JP Morgan getting into crypto and creating it’s own stable coin (digital dollars).
What have you learned so far in this venture about entrepreneurship?
“The best thing you can do in your life an career is put blinders on. Don’t waste energy worrying about things you cannot control.”
How were you able to get a team of top talent like you have pulled together for Linus?
What is your best advice for an entrepreneur starting today?
"The best thing you can do in your life an career is put blinders on. Don’t waste energy worrying about things you cannot control."
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