Upstart Announces a New Way to Invest In a Recent College Grad
August 9, 2012
The Boston Globe reports that former Google executive Dave Girouard ’88, Thayer ’89, has founded a new Silicon Valley company that offers an unusual investment opportunity.
Upstart, launched August 8, allows individuals to invest in the future of recent college graduates, and potentially earn profits as their careers take off.
Currently Upstart is working with five schools, including Dartmouth. Among the first group of graduates signing on with Upstart is Nathan Sharp, Tuck ’12. He plans to use the money from Upstart to pay off his student loans so he can focus on launching an online shopping company.
“This is a true investment in a person,” Girouard tells the Globe. “The payback is a defined fraction of their income over about ten years. There’s no guaranteed return, but it’s designed to generate a reasonable return.”
Also, says Girouard, “We’re trying to help people at a pivotal time in their lives to be able to forgo the traditional job search and pursue what they want to do.”