Jul 6, 2026 · 58 min
AI startups target the manual processes holding back asset management
$100T is managed by “human duct tape” | E2308
This episode bridges the future of AI-driven fintech with essential historical lessons on SaaS pricing, security compliance, and platform dependency.
- 1Hanover Park is building an AI-native ERP to automate manual data entry and modernize legacy fund operations.
- 2Figma's early success relied on bottom-up growth, transparent billing, and navigating evolving security compliance standards.
- 3The rise and fall of Mahalo highlights the extreme vulnerability of building a business dependent on Google's search algorithms.
Don't miss
Lon Harris shares insider details on working at Mahalo and how Google's algorithm changes decimated the search engine's traffic.
The brief
The $100 trillion asset management industry still relies on manual data entry, basic spreadsheets, and human middlemen. Hanover Park co-founder Chris Cote joins the show to explain how his startup is building an AI-native ERP to modernize legacy fund operations.
Hanover Park plans to replace outdated systems by leveraging advanced AI models to rapidly ingest and clean complex financial data. This shift aims to transition CPAs from manual data entry workers into high-value, strategic advisors for asset managers.
The episode also features a March 2020 flashback interview with Figma co-founder Dylan Field. The hosts analyze Figma's early bottom-up go-to-market strategy, transparent billing models, and how security standards like SOC 2 compliance have evolved.
In a nostalgic turn, co-host Lon Harris shares his firsthand experience working at Mahalo.com, Jason Calacanis's early human-curated search engine, illustrating how sudden Google algorithm updates permanently disrupted their business model.
Whether rebuilding fund administration with AI or surviving platform shifts, the tech landscape proves that long-term success requires owning your data pipelines and building transparent, trust-based relationships with customers.
Featuring
Dylan Field
Mahalo.comListen to the full episode and explore every guest, topic, and moment on PodLume.