Brad Gerstner: belief

Transcript context

…Do you think it should be a discretionary account like an IRA or a basket of…? Again, what I intend to do is to fund people to push this idea forward. There will be a lot of debate. We've debated baby bonds for 30 years and we've never done anything. A bond, so far as I can tell, is spiritually connected, but it's stuck in the old legacy of the war bond. It's safer, therefore, will give you a bond, but it doesn't appreciate. The recipient doesn't learn much. Hopefully, we can harness the energy, the power, the lessons of that, and make sure that every child in this country owns their tiny little slice of apple, of Walmart, of Tesla, of the future SpaceX. I think if they do, think of how elegant that Robinhood app is, or your Schwab, or Fidelity app, you open it up and they see all of these names. There are tiny little ownership of all of these names and they see that grow over time. We know how often they'll be looking at those phones. We know how their parents will feel. What I would say is they can't take the money out until a long way down the line. That ensures a retirement program for basically everybody. But you can add. We could build adjacent accounts. You could stick a 529 side by side with that that they could pull out at college. I don't like the idea of a government program, we'll give you a little of this every year. Give me title and ownership to something. This is mine. And then let me benefit from American innovation.…

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