Andrei Cherny’s career arc is more lightning bolt than rainbow, though his new startup, Aspiration, definitely has the rainbow’s symbolism of hope and transformation baked into its values.
In Aspiration, he’s co-founded and leads an online investing platform that’s created for the middle class, committed to giving, and built on trust.
What is the change or disruption you’re trying to make in the world?
Bringing choices and opportunity to the many and not just the few.
What was the genesis for Aspiration?
The unmet need for an investment firm with a conscience that is focused on serving middle-class investors and treating them with respect.
You have a “pay what is fair” model for your investment firm. Are people indeed being fair?
It’s still early, but so far the answer is “yes.” Over the long run, it is up to us to show our customers how much value there is in the work we’re doing for them. If we can’t prove that, we won’t deserve to be paid. But so far our customers are being as fair minded, honest, and honorable as we could hope and not taking advantage of us.
How have you integrated corporate social responsibility and social impact into the DNA of Aspiration?
Our charitable mission is at the core of Aspiration. As a company, we donate ten cents of every dollar we earn to charitable giving around expanding economic opportunity for struggling Americans. We call this “Dimes Worth of Difference.” And then we make it easy for our customers to give whatever amount they want to the charitable cause of their choice.
Which is harder—pitching your startup to a room full of investors or writing a speech for President Clinton?
Certainly there’s a lot riding on the words of the leader of the Free World! But while I feel a similar sense of mission and purpose in both what I did back then and what I’m doing now, I enjoy my work at Aspiration more because we’re starting fresh and can make this company exactly what we think it should be.
What’s the biggest change you’ve made in your professional life?
I’ve had the privilege and challenge of making a lot of leaps in my professional life: strategic consultant to Fortune 100 companies, White House speechwriter, policy advisor, financial fraud prosecutor, author of a book on business and social trends, Navy reserve officer, candidate for public office, founder and editor of a public policy journal, historian, and now CEO of Aspiration. I’ve had my share of successes and failures, but tried to stay guided by the lodestar of my basic beliefs in all I’ve done.
Personal life?
It might be clichéd, but my life can be divided into B.C. and A.C.—before children and after children. Our two kids are the central organizing principle of how I think about my life ahead.
Change is hard—do you have any tricks you’d like to share for making it easier?
There is an old Yiddish proverb: “Man plans, God laughs.” You never know what’s around the bend, but if you’re guided by a destination you want to reach, there are many paths to get there.
If you could change one thing in the world right now, what would it be?
Stop children from being harmed.
If you could change one thing about yourself, what would it be?
To be more patient about some things and less patient about others.
Do you volunteer?
Our whole family volunteers fairly frequently at local food banks and children’s hospitals.
What are you reading right now?
I always have a dozen or so books going on my Kindle but have lately been enjoying Daniel Lubetzky’s “Do the KIND Thing,” Brian Grazer’s upcoming “A Curious Mind,” and—believe it or not—a fascinating biography of the now-mocked but once beloved Harold Stassen by Steve Werle.
Listening to?
The 40’s or 80’s stations on satellite radio.
Watching?
Sophia the First.
Who inspires you?
Gail Halvorsen, the Candy Bomber. I was privileged to tell his story in a book I wrote a few years ago. His uncalculated acts of kindness truly changed the world we live in today.
Favorite color?
Blue.
Rock, paper, or scissors?
A rock can smash things, scissors can cut things, but the ideas on one piece of paper can transform our lives.
Who is the most progressive nonprofit or business leader you know?
After being the founding president of eBay, Jeff Skoll could have taken his riches and done literally anything, but devoted himself to spurring social change through Participant Films and supporting the world of social entrepreneurs. We’re lucky that Jeff is an advisor to Aspiration.