Vote and let us know which topic you'd like to learn about most:
674 People Views 62129
The material provided on this Website is for informational use only and is not intended for financial or investment advice. Bank of America and/or its partners assume no liability for any loss or damage resulting from one's reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional when making decisions regarding your financial or investment management.
SAL KHAN: I was an analyst at an investment firm, and one family member in particular, Nadia. Twelve years old, was having trouble with mathematics. So I said, Well how about when you go back to New Orleans, I'll become your tutor?" We eventually figured out some way on the Internet so we could see each other's writing. And I started tutoring her. I got excited that I was able to help my cousin and at this point, word had gotten around that free tutoring was happening so it was like ten or fifteen cousins every day after work. And I just kept going. More and more and more contents. Tried adding algebra, calculus, trigonometry, physics, chemistry, finance. And it soon became clear that people who were not my cousins were watching. Now we've got space, and hired some of the best folks in the industry. We've expanded the faculty of Khan Academy. We have medicine, history, computer science. We kind of see ourselves as an entire virtual learning platform.
SAL KHAN: "And it the nineteenth amendment it finally gave women the right to vote." Khan Academy's success does not make me rich, I do not own Khan Academy. Our mission statement is a free world-class education for anyone, anywhere. The goal isn't to leave a better world for your kids. It's to leave better kids for the world. If you go to any employer, and you say "What is the determinant of someone who's successful?" They will say, "Well, someone who can keep learning." What you learned in college even two years ago is already out of date. You need to learn to learn. And it's not just to, kind of stay young mentally. But it's an economic imperative.
SAL KHAN: And so when Bank of America came and reached out to us, and said, "We are really interested in making sure that our customers and everyone else, really understands finance." I was like, "Look. Our mission is not for Bank of America customers, it's for everyone. We want everyone to really understand this stuff." They were like, "Us too." We're like "Yeah. Done!" What's exciting about this is this is genuine. Their mission is literally identical to ours. To get people so that they master the basics of personal finance. My career was trying to figure out how the world worked financially. This is my bread and butter. This is one of the areas on Khan Academy that I hopefully bring some of the most of the credibility to.
SAL KHAN: "So inflation, tends to be the norm when you're talking about the economy. And the way that the government actually measures it, is with the CPI-U..." Where I think Bank of America becomes a really powerful partner for us, is that they have a lot of experience. I get to keep making videos. No editorial control. But at the same time we get to tap into this pool of incredibly talented folks at Bank of America so that we can get expertise in domain X, Y, or Z and make sure that we're really getting the deepest, most sound content for our users. "I'm going to manage this money right over here, and I'm just going to a percentage of the total assets under management."
SAL KHAN: This isn't about just a small seminar for twenty people. We're reaching six million users per month. Bank of America has tens of millions of users. This project isn't just to reach those groups. It's to reach everyone. The world problems can get solved faster if we can increase the number of people who are capable of solving them. And I think this partnership could really take us there.