by Yieldstreet | Staff
As Chief Product Officer, how do you anticipate the current environment affecting Yieldstreet’s ability to scale?
Yieldstreet has a track record of growth and a strong balance sheet. We expect that given the market and economic impact, investors will reassess their positions and strategies in the short-term, making it a period of lighter engagement in terms of investments while putting even more emphasis on their portfolio. However, as post-crisis times emerge, we expect to have an even bigger opportunity to deliver on Yieldstreet’s mission. I would say that our ability to scale from a product and experience perspective will come into play once this happens. We have been developing some truly unique investment opportunities that will give retail investors access to a range of financial products that they didn’t have access to in times of crisis such as this in the past.
How is the switch from in-person to WFH affecting your day-to-day?
At Yieldstreet, our Product, Design, Data and Tech teams were used to working in a globally distributed environment with daily remote interactions even before the crisis started. This working model was then applied more broadly on a company-wide basis once working from home came into effect. We had been using tools such as ClubHouse, Slack, Clickup and Hangout/Zoom to communicate with each other beforehand. A big change has been that now we rely on these technologies as an entire company, as opposed to just some teams and that we have to use them over a longer period of time.
With face-to-face interactions being out of the question, the need for even more communication, especially for cross-functional efforts has become critical. We have adapted quite quickly with even more importance being placed on how things are documented internally.
We’ve also added virtual activities that encourage connection between team members and alleviate isolation. For example, my team and I have become accustomed to having a virtual meeting over tea or coffee to ensure we stay in touch. We’ve also adapted by conducting activities that instill culture within an organization virtually, such as celebrating work anniversaries using software like Tribute. We have also been understanding of the fact that not everyone will have an optimal work from home set up, anticipating that people may want to bring in some of their office equipment from work or have slower internet connectivity at home. Our HR team has also been amazing at finding new ways to connect the entire company during this difficult time.
What are some of the most important areas Product teams should be focusing on now?
Our core focus areas with regard to Product, Design, and Data have largely remained the same. From an investor lifecycle perspective, we think the focus should remain on onboarding, activating, engagement and retention. When considering what kind of value we can provide to our investors, our focus has been on giving access to informative materials and being reliable and transparent about what’s going on. We are now spending more time talking to investors in order to understand their expectations in this specific scenario and what we can do to enhance their experience, on the web or through our mobile app.
How has this affected professionals within your industry (layoffs, decreased spends, hiring spree)?
As a player in the Fintech world, Yieldstreet is a part of two industries: finance and technology. When it comes to the tech industry in general, I expect that this crisis will force many digital non-native industries to accelerate their plan to provide products and services digitally. I think some really interesting trends will emerge much faster than anticipated, such as telemedicine or the development of stronger remote work technologies that have various applications. Within that segment, I think product managers, designers, and data professionals will continue to have big opportunities for growth. Certain companies are bound to be negatively impacted but there will always be others who will hire and leverage this crisis to attract more talent. It is heartbreaking to see the massive impact on unemployment this crisis already had in a few weeks. It will certainly be seen as one of the most important crisis of the past 100 years.
While it’s too soon to tell how this will all play out for the finance industry, I expect similar acceleration towards digital to occur. The value proposition of Yieldstreet and other fintech platforms has never been so relevant. With the stock market and bonds becoming unattractive to many in current market conditions, I expect that retail investors will start looking for access to unique opportunities to invest and trying to benefit from the recovery period of this on-coming recession.
I think that overall, there will be long-lasting effects from this crisis, with parts of the economy doing well whilst others are deeply affected. I believe it will be looked at as a game-changer in globalization and economic history.
What are some takeaways from this situation and how can we be prepared in the future?
I think the long-term effects of this crisis will be very palpable. This is the first global pandemic in an age of a massively globally connected audience. I consider the crisis a Blackswan event that will have profound effects on people and society at large. Concepts like resilience and interdependency will re-emerge and people will call for a different model of society. Personally I do not believe that ask will only be at the margins. Some of the things I’m expecting to come out of this are:
On a more personal note, I am hoping this crisis enables us to focus on what I think are two of the biggest issues we face as a society: climate change and mental health. On this Earth Day 2020, I do hope the best of humanity comes out. One always has to believe (and act accordingly).
Read more from the Yieldstreet leadership:
Chief People Officer, Nicole Keller’s take on the impact of the coronavirus pandemic on Yieldstreet and the HR and talent acquisition industry.
Chief Technology Officer, Hrishi Dixit’s take on the impact of the coronavirus pandemic on Yieldstreet and the tech industry.
Sign up with Yieldstreet and be the first to know about our latest offerings, recent news, upcoming events, and more.Your email will never be shared and will only be used for Yieldstreet updates. Already a Yieldstreet member? You're already set up to be notified.
Sign up with your email address
Securely verify your identity and link a bank account
Verify your accreditation (if applicable) to access all of Yieldstreet’s offerings.
Our weekly podcast providing ideas about how to make money work for you and bring you closer to your dreams.
1 Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses.
2 Represents an average net realized internal rate of return (IRR) with respect to all matured investments in your portfolio, utilizing the effective dates and amounts to and from the investments and net of management fees and all other expenses charged to the investments. Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. All securities involve risk and may result in significant losses, including the loss of principal invested.[read more]
3 "Annual interest" or "Annualized Return" represents an annual target rate of interest or annualized target return and "term" represents the estimated term of the investment. Such target interest or target returns and estimated term are projections of the interest or returns and or term and may ultimately not be achieved. Actual interest or returns and term may be materially different from such projections. This targeted interest or returns and estimated term are based on the underlying investments held by the applicable.
4 Reflects the annualized distribution rate that is calculated by taking the most recent quarterly distribution approved by the Fund's Board of Directors and dividing it by prior quarter-end NAV and annualizing it. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.
5 Represents the sum of the interest accrued in the statement period plus the interest paid in the statement period.
6 The internal rate of return ("IRR") represents an average net realized IRR with respect to all matured investments weighted by the investment size of each individual investment, made by private investment vehicles managed by YieldStreet Management, LLC from July 1, 2015 through and including Dec 22th, 2021, after deduction of management fees and all other expenses charged to investments.
7 Investors should carefully consider the investment objectives, risks, charges and expenses of the Yieldstreet Prism Fund before investing. The prospectus for the Yieldstreet Prism Fund contains this and other information about the Fund and can be obtained by emailing [email protected] or by referring to www.yieldstreetprismfund.com. The prospectus should be read carefully before investing in the Fund. Investments in the Fund are not bank deposits (and thus not insured by the FDIC or by any other federal governmental agency) and are not guaranteed by Yieldstreet or any other party.
8 This tool is for informational purposes only. You should not construe any information provided here as investment advice or a recommendation, endorsement or solicitation to buy any securities offered on Yieldstreet. Yieldstreet is not a fiduciary by virtue of any person's use of or access to this tool. The information provided here is of a general nature and does not address the circumstances of any particular individual or entity. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of this information before making any decisions based on such information.
No communication by YieldStreet Inc. or any of its affiliates (collectively, “Yieldstreet™”), through this website or any other medium, should be construed or is intended to be a recommendation to purchase, sell or hold any security or otherwise to be investment, tax, financial, accounting, legal, regulatory or compliance advice. Nothing on this website is intended as an offer to extend credit, an offer to purchase or sell securities or a solicitation of any securities transaction.
Any financial projections or returns shown on the website are estimated predictions of performance only, are hypothetical, are not based on actual investment results and are not guarantees of future results. Estimated projections do not represent or guarantee the actual results of any transaction, and no representation is made that any transaction will, or is likely to, achieve results or profits similar to those shown. In addition, other financial metrics and calculations shown on the website (including amounts of principal and interest repaid) have not been independently verified or audited and may differ from the actual financial metrics and calculations for any investment, which are contained in the investors’ portfolios. Any investment information contained herein has been secured from sources that Yieldstreet believes are reliable, but we make no representations or warranties as to the accuracy of such information and accept no liability therefor.
Private placement investments are NOT bank deposits (and thus NOT insured by the FDIC or by any other federal governmental agency), are NOT guaranteed by Yieldstreet or any other party, and MAY lose value. Neither the Securities and Exchange Commission nor any federal or state securities commission or regulatory authority has recommended or approved any investment or the accuracy or completeness of any of the information or materials provided by or through the website. Investors must be able to afford the loss of their entire investment.
Investments in private placements are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Additionally, investors may receive illiquid and/or restricted securities that may be subject to holding period requirements and/or liquidity concerns. Investments in private placements are highly illiquid and those investors who cannot hold an investment for the long term (at least 5-7 years) should not invest.
Alternative investments should only be part of your overall investment portfolio. Further, the alternative investment portion of your portfolio should include a balanced portfolio of different alternative investments.
Articles or information from third-party media outside of this domain may discuss Yieldstreet or relate to information contained herein, but Yieldstreet does not approve and is not responsible for such content. Hyperlinks to third-party sites, or reproduction of third-party articles, do not constitute an approval or endorsement by Yieldstreet of the linked or reproduced content.
Investing in securities (the "Securities") listed on Yieldstreet™ pose risks, including but not limited to credit risk, interest rate risk, and the risk of losing some or all of the money you invest. Before investing you should: (1) conduct your own investigation and analysis; (2) carefully consider the investment and all related charges, expenses, uncertainties and risks, including all uncertainties and risks described in offering materials; and (3) consult with your own investment, tax, financial and legal advisors. Such Securities are only suitable for accredited investors who understand and willing and able to accept the high risks associated with private investments.
Investing in private placements requires long-term commitments, the ability to afford to lose the entire investment, and low liquidity needs. This website provides preliminary and general information about the Securities and is intended for initial reference purposes only. It does not summarize or compile all the applicable information. This website does not constitute an offer to sell or buy any securities. No offer or sale of any Securities will occur without the delivery of confidential offering materials and related documents. This information contained herein is qualified by and subject to more detailed information in the applicable offering materials. Yieldstreet™ is not registered as a broker-dealer. Yieldstreet™ does not make any representation or warranty to any prospective investor regarding the legality of an investment in any Yieldstreet Securities.
Banking services are provided by Evolve Bank & Trust, Member FDIC.
Investment advisory services are provided by YieldStreet Management, LLC, an investment advisor registered with the Securities and Exchange Commission.
Our site uses a third party service to match browser cookies to your mailing address. We then use another company to send special offers through the mail on our behalf. Our company never receives or stores any of this information and our third parties do not provide or sell this information to any other company or service.