Serial Founder Who Built 15 Projects, Including Digit: The Power of Practice and Perseverance

The Entrepreneurial Journey of Ethan Bloch

Ethan Bloch, the founder of Digit, has always had a passion for innovation and problem-solving. His entrepreneurial journey began when he was just 13 years old, marking the start of a long line of ventures that have shaped his career. Today, he is focused on Hiro, a financial planning platform that leverages large language models to provide personalized financial guidance.

Bloch's first real business came in the form of an e-commerce store called Blochardware, where he sold PlayStation controllers and memory cards imported from China. In 1998, this was one of the early examples of online shopping, before credit card payments became common. The process involved cash-on-delivery, which meant that customers would receive their products and then send money orders back to him.

Even before starting his first business, Bloch showed an interest in finance. At the age of 10, he played with Quicken, a personal finance software, as a form of entertainment. He even wrote pretend checks, showcasing his early fascination with financial management.

Growing Up in an Entrepreneurial Household

Bloch's parents were both immigrants who instilled in him a sense of independence and self-reliance. His father ran a secondhand clothing business, while his mother started her own company. This environment nurtured his entrepreneurial spirit and influenced his decision to pursue his own ventures.

From a young age, Bloch had a strong desire to be in control. He didn't like being told what to do, which often made him a challenge in school. However, this trait became an asset when he started his businesses. It allowed him to create and manage projects according to his vision, helping others along the way.

The Concept Behind Hiro

Hiro is Bloch's 15th project, and it represents a long-held idea that he wanted to bring to life. The inspiration came from Orson Scott Card's "Ender's Game," where a character named Jane, an AI, helps Ender file his taxes. Bloch thought everyone should have a Jane — a helpful guide for managing finances.

His previous venture, Digit, aimed to provide financial guidance to everyone, not just the wealthy. While it succeeded in helping millions save billions of dollars through automated savings, the conversational aspect of the service wasn't fully realized at the time. With the advent of ChatGPT, this changed. The technology opened up new possibilities for creating a sophisticated financial planning tool.

Hiro targets the mass affluent customer, those earning in the top 30% of their geographical area. Users can sign up and engage in a short conversation that builds their financial plan. They can test different scenarios, such as changes in income, and see how these affect their net worth and financial independence timeline. The platform also includes starter prompts for topics like financial independence, life changes, and home buying.

Lessons from Failure and Success

Bloch emphasizes that failure is a crucial part of the entrepreneurial journey. He has experienced numerous setbacks, with his first 13 companies failing. However, each failure taught him something valuable. Eventually, he found success with Flowtown, which was acquired for $4.5 million, and Digit, which was sold for over $230 million.

Here is a timeline of every project Bloch has undertaken:

• 1996: Sold computer video games on eBay.
• 1998: Equities day trader during the telecom and internet boom.
• 1998: Launched Blochardware, an e-commerce store selling PlayStation and Dreamcast accessories.
• 2000: Launched an IT services business.
• 2002: Launched Comtop, a foldable mobile computer.
• 2004: Launched EMB Networks for ultra wide-band internet access.
• 2005: Launched PureHealth, a children's charity.
• 2005: Launched Parlor Room, for online poker and other skill-based game competitions to win money.
• 2006: Launched OpenSermo, an internet news network.
• 2008: Launched Financial Fuzz, a social network focused on financial news.
• 2008: Launched WSYK, an early YouTube/iTunes vlogger focused on current events.
• 2008: Launched "The Way To Build Wealth," a video podcast focused on educating viewers on the basics of investing.
• 2009: Launched Flowtown, a B2B SaaS focused on helping small businesses connect with customers on social media. It was acquired by Demandforce for $4.5 million.
• 2013: Launched Digit, for algorithmic savings, which helped consumers save $9 billion. It was acquired by Oportun for $238 million.
• 2023: Launched Hiro: AI financial planner.

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