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On this episode of the Siefer's Scoop podcast, Blaise hosts Jack Kramer '10.5, a four-year quarterback on the football team at Middlebury. Kramer received a BA in German and Economics from the College in 2011, and, after graduating, co-founded a digestible economics newsletter, called MarketSnacks. In 2018, MarketSnacks was acquired by Robinhood, a prominent American financial services company. Currently, Jack co-hosts the Snacks Daily podcast and is the Managing Editor of News at Robinhood. On this episode, Kramer discusses his favorite experiences and lessons learned at Middlebury, how he grew MarketSnacks, and how he's currently enjoying his role at Robinhood. Extra: Kramer also offers some insightful advice to current Middlebury students!
There are few things in life that are not volatile. The stock market rises and falls, much like a pendulum swinging from left to right. Crypto is viewed as a rocket ship, but it's returns remain mostly inconsistent, and the housing market has seen its fair share of crashes over the years. But if you're looking for one asset class that bucks the trend when it comes to volatility, fine art might just be it.For centuries art has been seen as an avenue for the rich and famous to flex their wealth, but Masterworks believes it's business model of allowing everyday consumers to invest in multi-billion dollar pieces of art, is shattering that glass ceiling and democratizing art for all.“We consider ourselves fiduciaries or financial advisors. We're doing that because art is a very confusing and brand new asset class. We're the only ones enabling access to this $1.7 trillion market. From a suitability standpoint, to let someone Yolo their life savings into a Banksy is not something that we want our customers to do. We don't think it makes sense for someone that has a $5 million retirement portfolio to put in a hundred dollars. So we'll tell that person, just keep your money; keep the cash; put it in stocks. So we're really getting people, not only to understand what is art as an asset class, why is art important, but to make sure they're investing responsibly and investing a part of their portfolio, that actually makes sense.”Michael Wenner is VP of Marketing and Director of Business Development at Masterworks, a platform that lets everyday consumers invest in pieces of art such as Banksy, Kaws, and Basquiat. Michael joined me on this episode of Marketing Trends to discuss how Masterworks is using centuries of data to its advantage to not just identify which pieces of art the company invests in, but also why they are opening that data up to everyone. Michael also dives into why he is bullish on content marketing, and how Masterworks views itself more as a financial institution rather than an art gallery. Enjoy this episode.Main TakeawaysData Strategy: When you need to get the attention of your prospective audience in a big way, you need to offer them something that is useful to them. Creating a large set of data about your field or industry that you can leverage to engage clients and leave a good impression with them is a great way to make a splash. Marketing a new asset class: Education is the keystone of grounding a good marketing campaign for a product or service that doesn't have a market yet. You've got to get creative and think about what you can do to bring value to your potential consumers.Content Marketing Doesn't Work: There is an argument to be made that annoying your customers, and prospective customers with an array of content emails, that can trigger bounce rates to go up, is not worth that loss. Those email addresses represent dollars and you should take every opportunity you have in front of your customer to serve them with your products. The most effective approach can be that of brute-force. Be direct with your potential clients; do whatever it takes to get their emails.Key Quotes“We always talk about how Facebook it's such a great platform, that people have given so much information about themselves. LinkedIn is giving you much more relevant information. You can tell exactly how wealthy and how successful someone is. So we don't really do role-based targeting or job-based targeting, but it's really incredible that by what you're able to do by brute force. [Linkedin's] technology's obviously not as good as Facebook, but you can figure out how to set up targeting campaigns. You can get to the wealthiest, most successful people on earth. It's going to cost you, but if you can convince them it's the best way to do it.” “We consider ourselves fiduciaries or financial advisors. We're doing that because art is a very confusing and a brand new asset class. We're the only ones enabling access to this $1.7 trillion market. From a suitability standpoint, to let someone YOLO their life savings into a Banksy is not something that we want our customers to do. And we also don't think it makes sense for someone that has a $5 million retirement portfolio to put in a hundred dollars. So we'll tell that person, just keep your money; keep the cash; put it in stocks. So we're really getting people, not only to understand what is art as an asset class, why is art important, but to make sure they're investing responsibly and investing a part of their portfolio, that actually makes sense.”“Our data science team has been doing incredible things. We have the largest proprietary data set of art market returns. We took 50 years of art auction results that were all published physically in the Sotheby's and Christie's pamphlets. We had a team of about 25 interns go in and [enter], this piece of art was bought for this and then sold for this. And we created this huge database to bring it all together. No one else had done it because it's a pain [to do so].. So we created this database, and our data science team was then able to look at using A.I., all these different, fascinating insights, which artists markets are returning the best, which years within those artists markets, even which type of art. We were able to single out contemporary art, post-World War II art, coming from this time period. We're seeing that it has this type of returns.” “You look at is as art or it's a $1.7 trillion market. And until Masterworks, there was absolutely no way to invest in it. hose who did want to enter it,, who wanted to build a diversified portfolio would need tens of millions of dollars. You could buy one piece. And if that one piece went down in value,you'd spend a million dollars on it and you weren't diversified, it's not really a secure asset or a strategic asset class.” “Our goal is to educate people on art as an asset class. If people get excited about investing in art and they Google it, we're the first search result and we always will be. We are so happy to give our research away. We're working with other banks in investment platforms to educate them, give them all of our data, give them our price database, show them how different artists markets have different loss rates in different correlations, because we want to educate everyone. Not only are we getting new people into the asset class, but we're also growing it at the same time. We can actually have a huge impact on the market and we consider ourselves one of the top buyers in the art market.” “I used to do content marketing and I really disliked it. e just don't think that has any value. I'll tell you why: our user base is very interested in two things, diversity and returns. Diversity, meaning investment diversity diversification. So when we email them we want to give them those two things. We only email people with new investment offerings. We don't want to bug them. Something that's really important to us is our email list. So if we're sending content (which we have in the past, and that gives us higher unsubscribed rates.) We're just not going to do it. We think of our email list as currency. If we're going to do something to devalue our currency, we're not going to do it.““I see NFTs not having a similar impact. I do not believe NFTs are a strategic asset class. Strategic asset classes are ones that have been around for awhile. It can be part of a portfolio. NFTs have a false sense of scarcity. You're basically putting a JPEG on the blockchain and calling it scarce, even though you don't own any of the IP. I am short on NFTs.”. BioMichael Wenner is Vice President of Marketing and Director of Business Development at Masterworks. Michael began his career in finance doing sales and trading for five years. Near the end of this time, he started shifting towards doing more marketing, especially digital. He started a newsletter called MarketSnacks that was eventually acquired by Robinhood. Then he went to work in FinTech at YieldStreet before stepping over to Masterworks. To learn more, click here: {{URL of detail page on found on www.mission.org}}---Marketing Trends podcast is brought to you by Salesforce. Discover marketing built on the world's number one CRM: Salesforce. Put your customer at the center of every interaction. Automate engagement with each customer. And build your marketing strategy around the entire customer journey. Salesforce. We bring marketing and engagement together. Learn more at salesforce.com/marketing.
Sam Maule is hosting today's Fintech Insider Interviews all the way from New York City! In this episode, Sam is joined by MarketSnacks co-founders Jack Kramer and Nick Martell, now Managing Editors of News and hosts of the rebranded Robinhood Snacks podcast and newsletter. Together they talk about how the brand came about, the power of podcasts with millennials and the ethics of democratising our financial systems. We're also given an insight into Jack and Nick's backgrounds, their take on emerging fintech markets in Latin America, and what the future holds for Robinhood Snacks. All this and much much more on today's Fintech Insider Interviews! Check out our brand new documentary 11:YEARS - the Rise of UK Fintech now. Head over to 11years.film to watch for free, and share using #11YEARS. Fintech Insider by 11:FS is a podcast dedicated to all things fintech, banking, technology and financial services. Hosted by a rotation of 11:FS experts including David Brear, Simon Taylor, Jason Bates, Leda Glyptis and Sarah Kocianski and joined by a range of brilliant guests, we cover the latest global news, bring you interviews from industry experts or take a deep dive in subject matters such as APIs, AI or digital banking. If you enjoyed don't forget to subscribe and please leave a review Follow us on Twitter: www.twitter.com/fintechinsiders where you can ask the hosts questions, alternatively email podcasts@11fs.com! Special Guests: Jack Kramer and Nick Martell.
Today on Group Chat we talk about Jussie Smollet charges dropped, Breakdown of Apple event, Michael Avenatti, Man stole $122m from Facebook and Google, Robinhood acquires MarketSnacks, Spotify acquires Parcast, Why Bieber isn’t releasing new music, WeWork $1.8 billion loss, Conor McGregor Retirement and Eminem Learn more about your ad choices. Visit megaphone.fm/adchoices
This is big. MarketSnacks has been acquired by Robinhood, and is now Snacks Daily -- Same digestible financial news, better everything else. Today, we jumped into Pinterest’s IPO filing material to discover they’re all about Millennial moms. Papa John just subbed in Shaq to be its “Pizza Wars” savior. And Tiffany’s falls even as it adds Lady Gaga to its fresh new line.
Former Michigan Ross Student Jack Kramer started the popular daily email newsletter MarketSnacks while he was still working in the corporate world, and before starting his MBA at Michigan. Since then, together with his co-founding partner Nick Martell, Jack has been featured on CBS, CNN, Fortune, Fox Business, Fast Company — and they were both selected to the Forbes 30 Under 30 list this past year for their work on MarketSnacks. This incredible recognition led to a podcast deal, the podcast led to company growth, and company growth led to us calling up Jack to say “Hey man, let’s have a chat about all this.” So that’s what this episode is. Also: There’s a lot of talk about Vermont. Links from this episode Market Snacks: http://www.marketsnacks.com Listen to Market Snacks on iTunes: https://itunes.apple.com/us/podcast/marketsnacks-daily/id1386234384?mt=2 Business Beyond Usual is brought to you by the Ross School of Business at the University of Michigan. Episode Host: Charlie Grant Guests: Jack Kramer Executive Producers: Sheela Lal, Marjace Miles, Christopher Ankney, and for this episode: Charlie Grant Producers: Jamell Culler, Adam Fasher, Leslie Chang, Andres Fuentes-Afflick, Dillon Cory, Jason Rock, and Stephanie Simpson Audio Engineer: Jonah Brockman Copyright 2018 - University of Michigan
Nick Martell and Jack Kramer were each working in finance when their financial newsletter, Marketsnacks, took off. Since then, the two have managed to keep building Marketsnacks, while also keeping it as a side hustle. Hear how they do it in this episode. -- • Buy the When To Jump book here: https://amzn.to/2to6dKH
You probably already know MarketSnacks, the newsletter about Wall Street that makes financial news fun, accessible, and bite-sized. But did you know that its co-founders Jack Kramer and Nick Martell began MarketSnacks as a 10%?
The financial world isn’t an easy one to navigate. It’s complicated and often full of unnecessary jargon. So the easier we can make it for everybody to digest, the BETTER OFF (pun intended!) we’ll all be. That’s why when I find like-minded people who want to demystify money-related topics, I immediately ask them to be guests on the show. Nick Martell and Jack Kramer spent their early days working in finance but quickly realized something was missing. It wasn’t they wanted to do. So they started side hustling, while still working at two different Wall Street banks. Over a couple beers one day after work, they figured it out. They wanted to create something that provided easy to understand finance content, the kind they wished they had while preparing for finance interviews in college. One thing led to another and eventually the guys came up with MarketSnacks, the digestible daily newsletter that simplifies Wall Street by filtering out the noise and explaining what's important in one bite-sized snack – clear, condensed, and entertaining. On the heels of their successful newsletter, Nick and Jack recently launched the MarketSnacks Daily podcast, a daily show that focuses on the digestible business stories you'll actually care about. Yet another example of how the side hustle can pay off. Figure out what it is you want to do and find a way to make it happen! “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ http://www.stitcher.com/podcast/jill-on-money https://apple.co/2pmVi50
Nick Martell, Co-Founder & Co-CEO of MarketSnacks and current Wharton MBA student, joins host Peter Cappelli to discuss the art of the side hustle - why starting an entrepreneurial venture on the weekends alongside of your "day job" could not only benefit you, but your 9-5 company as well on In the Workplace. See acast.com/privacy for privacy and opt-out information.