What a year for Vanguard.
Vanguard does not pitch investors on fancy strategies and technology advantages. It wins because they cost less.
Which brings me to this great tweet I saw from Venture Capitalist Leo Polovets:
When Bogle started Vanguard he had a big vision but a simple strategy. In an era of machine learning, drones, hylerloops, VR and AI it’s important for entrepreneurs and investors to remember that great startups often hide the technology in the back.