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If you’re a tech entrepreneur today, one of your primary jobs is finding investors who want to put money behind your product or service. While automation is the norm rather than the exception in tech companies today, some aspects still require the human touch. You can’t send a robot to pitch to investors or find other companies worth investing in. Or could you? Adam Nash, CEO of Wealthfront, seeks to automate tech investing by managing stock and bond portfolios.

Statistically, tech investments have a high rate of failure. Micah Rosenbloom, venture partner at Founders Collective, said the chances of investing in a successful fund are still slim. “Historically, only one out of ten companies that a firm invests in with a given fund will be successful,” he said. Tomas Tunguz, partner at Redpoint Ventures, was a bit more optimistic about investing, signaling a 50/50 chance of success.

Nash, who seeks to remove the human element from investing, has two major obstacles to overcome when it comes to the current atmosphere of tech investing: emotions and the chance of irrationality. “Computers are completely rational, and they have nothing else to do,” he said. “This service in the cloud will watch your account 24/7 and do all the small things you should have been doing with your money but you and I don’t have the temperament or the time to do.”

While it might seem like madness to take people out of investing, a process that involves a lot of persuasive wheeling and dealing a robot simply can’t evoke, Nash’s business is booming. In 2015, Wealthfront’s robot advisers have managed 52 percent more money than last year—a figure of $900 million.  Other firms, such as Betterment and Personal Capital, also believe in the power of robot-based tech investing, and the firms have combined to manage $6.7 billion worth in assets.

The results? Wealthfront has reported a return of 5.85 percent before taxes, a figure rapidly approaching the average returns on the S&P 500, a widely used benchmark on the stock market which averaged 7.6 percent on returns between 2005 and 2014, according to CNET. Venture capitalists are starting to take computer-based investing seriously, with $623 million in startups since 2008. $439 million of that money has come since just 2014.

There are also apps that can auto-invest spare change after a purchase, as well as those that can monitor investment accounts and recommend portfolio changes. Wealthfront, Betterment and Personal Capital have each raised $100 million over the last few years. These robot investors have drawn attention from big traditional investors such as Bain Capital Ventures, the company which 2012 presidential hopeful Mitt Romney co-founded and served as CEO from 1984 to 1999.

Matt Harris, managing director at Bain Capital Ventures, has put his money behind SigFig, one of the companies spawned from computer-based investing, believing that most current investment advisers would under-perform their robotic counterparts. “Your adviser is probably not a genius,” Harris said. “Unless Warren Buffett is managing your money, you’re way better off doing a similar algorithmic approach.” Harris also argued that investing, once seen as a haven for the rich, is an option now open to anyone because robot investors don’t have to be paid for their work, allowiong them to charge their customers less.

“Customers still win out,” said John Jarve, managing director at Menlo Ventures, another traditional investment firm. “The average person will get a higher rate of return on their investments because the fees they’re charged will be less,” he said, also affirming Harris’s statement about investing now being a wide open playing field.

Other traditional investment services are taking note – Charles Schwab and Vanguard have also looked into robot-based investing. “Robo-advisers are here to stay,” said Christopher Geczy, a professor at the Wharton School of Business at the University of Pennsylvania. However, Geczy had some words for those in Silicon Valley seeking to imitate Wall Street. “You’re only as good as your code, and right now the code isn’t writing itself,” he said. “If it were so easy, Silicon Valley would be running hedge funds,” he added.

Robot-based investing could change the way business is done in Silicon Valley by not only removing the human element of investing, but opening the investing world to different socioeconomic classes, placing the power of the dollar back into the hands of average people seeking to invest alongside the 1% who have long dominated the field. Go Go Gadget Investors!

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