Tim Latimer, CEO and co-founder of Fervo Energy, joins the Houston Innovators Podcast. Photo courtesy of Fervo Energy

Geothermal energy has been growing in recognition as a major player in the clean energy mix, and while many might think of it as a new climatetech solution, Tim Latimer, co-founder and CEO of Fervo Energy, knows better.

"Every overnight success is a decade in the making, and I think Fervo, fortunately — and geothermal as a whole — has become much more high profile recently as people realize that it can be a tremendous solution to the challenges that our energy sector and climate are facing," he says on the Houston Innovators Podcast.

In fact, Latimer has been bullish on geothermal as a clean energy source since he quit his job as a drilling engineer in oil and gas to pursue a dual degree program — MBA and master's in earth sciences — at Stanford University. He had decided that, with the reluctance of incumbent energy companies to try new technologies, he was going to figure out how to start his own company. Through the Stanford program and Activate, a nonprofit hardtech program that funded two years of Fervo's research and development, Latimer did just that.

And the bet has more than paid off. Since officially launching in 2017, Fervo Energy has raised over $430 million — most recently collecting a $244 million series D round. Even more impressive to Latimer — his idea for drilling horizontal wells works. The company celebrated a successful pilot program last summer by achieving continuous carbon-free geothermal energy production with Project Red, a northern Nevada site made possible through a 2021 partnership with Google.

Next up for Fervo is growing and scaling at around a 100x pace. While Project Red included three wells, Project Cape, a Southwest Utah site, will include around 100 wells with significantly reduced drilling cost and an estimated 2026 delivery. Latimer says there are a dozen other projects like Project Cape that are in the works.

"It's a huge ramp up in our drilling, construction, and powerplant programs from our pilot project, but we've already had tremendous success there," Latimer says of Project Cape. "We think our technology has a really bright future."

While Latimer looks ahead to the rapid growth of Fervo Energy, he says it's all due to the foundation he put in place for the company, which has a culture built on the motto, "Build things that last."

“You’re not going to get somewhere that really changes the world by cutting corners and taking short steps. And, if you want to move the needle on something as complicated as the global energy system that has been built up over hundreds of years with trillions of dollars of capital invested in it – you’re not going to do it overnight," he says on the show. "We’re all in this for the long haul together."

Fervo Energy scored a $244 million round of funding thanks to existing and new investors. Photo via Fervo Energy

Houston geothermal startup secures $244M in funding round led by energy corporate

fresh funding

An Oklahoma-based shale oil and gas leader has backed Fervo Energy's latest round of funding, supporting the startup's geothermal technology yet again.

Fervo announced its latest round of funding this week to the tune of $244 million. The round was led by Devon Energy, a company that's previously backed the startup.

“Demand for around-the-clock clean energy has never been higher, and next-generation geothermal is uniquely positioned to meet this demand,” Tim Latimer, Fervo CEO and co-founder, says in a news release. “Our technology is fully derisked, our pricing is already competitive, and our resource pipeline is vast. This investment enables Fervo to continue to position geothermal at the heart of 24/7 carbon-free energy production.”

Founded in 2017, Fervo provides carbon-free energy through development of next-generation geothermal power. The company has recently reported its success at its Cape Station project, a400 MW project in Beaver County, Utah, as well as at its full-scale commercial pilot, Project Red, in northern Nevada and made possible through a 2021 partnership with Google.

Galvanize Climate Solutions, John Arnold, Liberty Mutual Investments, Marunouchi Innovation Partners, Mercuria, and Mitsubishi Heavy Industries also contributed to the round with existing investors Capricorn’s Technology Impact Fund, Congruent Ventures, DCVC, Elemental Excelerator, Helmerich & Payne, and Impact Science Ventures.

“The energy trilemma is one of the defining global challenges of our time; how can we generate power that is affordable, reliable, and clean,” Houstonian John Arnold, founder of Centaurus Capital and co-chair of Arnold Ventures, says in the release. “Fervo has transformed geothermal into a scalable carbon-free resource ready to meet the moment.”

The fresh funding, according to the company, will go toward Fervo’s work in Cape Station, that is slated to begin delivering clean electricity to the grid in 2026.

“Fervo’s approach to geothermal development leverages leading-edge subsurface, drilling, and completions expertise and techniques Devon has been honing for decades,” David Harris, chief corporate development officer and executive vice president at Devon, says in the release. “We look forward to deepening our partnership with Fervo to capture the full value of Fervo’s first-mover advantage in geothermal and the adjacencies to Devon’s core business.”

In 2022, Fervo raised a $138 million series C round to support the completion of power plants in Nevada and Utah and evaluate new projects in California, Idaho, Oregon, Colorado, and New Mexico, as well as in other countries. This latest investment brings the company's total funds raised to $431 million since its inception in 2017, according to Crunchbase.

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This article originally ran on EnergyCapital.

Tim Latimer, CEO and co-founder of Fervo Energy, is seeing success at his company's Utah geothermal site. Photo via LinkedIn

Houston energy startup reports 'dramatic acceleration' of drilling operations at geothermal project

big win

Early drilling results indicate a geothermal energy project operated in Utah by Houston-based startup Fervo Energy is performing better than expected.

Fervo says its drilling operations Utah’s Cape Station show a 70 percent reduction in drilling times, paving the way for advancement of its geothermal energy system. Fervo began construction last year on Cape Station, which is set to deliver clean power to the grid in 2026 and be fully operating by 2028.

The company recently published early drilling results from Cape Station that it says exceed the U.S. Department of Energy’s expectations for enhanced geothermal systems. Fervo says these results “substantiate the rapid learning underway in the geothermal industry and signal readiness for continued commercialization.”

Founded in 2017, Fervo provides carbon-free energy through development of next-generation geothermal power.

Fervo began drilling at Cape Station, a 400-megawatt project in southwest Utah, in June 2023. Over the past six months, the company has drilled one vertical well and six horizontal wells there. The company reports that costs for the first four horizontal wells at Cape Station fell from $9.4 million to $4.8 million per well.

“Since its inception, Fervo has looked to bring a manufacturing mentality to enhanced geothermal development, building a highly repeatable drilling process that allows for continuous improvement and, as a result, lower costs,” Tim Latimer, Fervo’s co-founder and CEO, says in a news release. “In just six months, we have proven that our technology solutions have led to a dramatic acceleration in forecasted drilling performance.”

Trey Lowe, chief technology officer of Oklahoma City-based oil and gas producer Devon Energy, likens Fervo’s drilling results to “the early days of the shale revolution.” Last year, Devon invested $10 million in Fervo.

“When you operate continually and understand the resource, you dramatically streamline operations. That’s the unique value of Fervo’s approach to enhanced geothermal,” says Lowe.

Last summer, Fervo reported the results of another one of its projects, Project Red, which is in northern Nevada and made possible through a 2021 partnership with Google. That site officially went online for the tech company in December.

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This article originally ran on EnergyCapital.

This week's roundup of Houston innovators includes Natara Branch of Houston Exponential, Tim Latimer of Fervo Energy, and Ayse McCracken of Ignite. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries recently making headlines in Houston across energy, health care, and more.

Natara Branch, CEO of Houston Exponential

Natara Branch joins the Houston Innovators Podcast to discuss changes to the organization's spring summit. Photo courtesy of HX

For three years, Houston Exponential has hosted a week-long event showcasing and connecting Houston's tech and innovation community, but next year it might look a little different.

Houston Tech Rodeo, which originated in 2020, has been rebranded to H-Town Roundup, but the week of innovation and entrepreneurship still has the same goal of providing programming and events that connect and educate Houstonians. And, for the ease of transition, the organization is still conveniently referring to the event as HTR.

Natara Branch, CEO of Houston Exponential, says the change is meant to make for a more inclusive experience for entrepreneurs of small businesses, something she's seen a need for since she took on her role last year.

"This year, we've had the better part of a year to think about what can be different and how can we serve the founder," she says on the Houston Innovators Podcast. Read more.


Tim Latimer, CEO and founder of Fervo Energy

Tim Latimer, CEO and co-founder of Fervo Energy. Photo via LinkedIn

Google is on a mission to run all of its data centers and office campuses on constant carbon-free energy by 2030, and the tech giant is one step closer to that goal thanks to technology from a Houston startup.

Last week, Google announced that its 24/7 carbon-free energy, or CFE, in Nevada to power its local data center in the state is officially operational. The facility is powered by Houston-based Fervo Energy's geothermal technology, a project — called Project Red — that began in 2021 and celebrated its successful pilot this summer. Tim Latimer founded Fervo on the West Coast before relocating the company to Houston. Read more.

Ayse McCracken, founder of Ignite Health Foundation

Ignite has announced a new foundation to further its reach in supporting women in health care. Photo via ignitehealthcare.org

For the past few years, a Houston organization has supported nearly 100 female-founded health tech startups with programming, crucial connections, and more. Now, with a newly launched nonprofit arm, the organization is taking it to the next level to bolster women in health care.

Ignite Healthcare Network, which was founded in 2017 by longtime Houston health care professional Ayse McCracken, has created Ignite Health Foundation, a nonprofit foundation, to go beyond startups and technology to support women in health care across the board with networking and events, in-person and virtual programming, professional development, and more.

"The Foundation is a vehicle for major fundraising grants and foundations allowing Ignite to scale the work we do to discover exceptional women leaders and innovators, connect them with an expert community and help them achieve their career goals," McCracken says. Read more.

The six finalists for the sustainability category for the 2023 Houston Innovation Awards weigh in on their challenges overcome. Photos courtesy

Top Houston-based sustainability startups share their 4 biggest challenges

houston innovation awards

Six Houston-area sustainability startups have been named finalists in the 2023 Houston Innovation Awards, but they didn't achieve this recognition — as well as see success for their businesses — without any obstacles.

The finalists were asked what their biggest challenges have been. From funding to market adoption, the sustainability companies have had to overcome major obstacles to continue to develop their businesses.

The awards program — hosted by InnovationMap, and Houston Exponential — will name its winners on November 8 at the Houston Innovation Awards. The program was established to honor the best and brightest companies and individuals from the city's innovation community. Eighteen energy startups were named as finalists across all categories, but the following responses come from the finalists in the sustainability category specifically.

    Click here to secure your tickets to see who wins.

    1. Securing a commercial pilot

    "As an early-stage clean energy developer, we struggled to convince key suppliers to work on our commercial pilot project. Suppliers were skeptical of our unproven technology and, given limited inventory from COVID, preferred to prioritize larger clients. We overcame this challenge by bringing on our top suppliers as strategic investors. With a long-term equity stake in Fervo, leading oilfield services companies were willing to provide Fervo with needed drilling rigs, frack crews, pumps, and other equipment." — Tim Latimer, founder and CEO of Fervo Energy

    2. Finding funding

    "Securing funding in Houston as a solo cleantech startup founder and an immigrant with no network. Overcome that by adopting a milestone-based fundraising approach and establishing credibility through accelerator/incubator programs." — Anas Al Kassas, CEO and founder of INOVUES

    "The biggest challenge has been finding funding. Most investors are looking towards software development companies as the capital costs are low in case of a risk. Geothermal costs are high, but it is physical technology that needs to be implemented to safety transition the energy grid to reliable, green power." — Cindy Taff, CEO of Sage Geosystems

    3. Market adoption

    "Market adoption by convincing partners and government about WHP as a solution, which is resource-intensive. Making strides by finding the correct contacts to educate." — Janice Tran, CEO and co-founder of Kanin Energy

    "We are creating a brand new financial instrument at the intersection of carbon markets and power markets, both of which are complicated and esoteric. Our biggest challenge has been the cold-start problem associated with launching a new product that has effectively no adoption. We tackled this problem by leading the Energy Storage Solutions Consortium (a group of corporates and battery developers looking for sustainability solutions in the power space), which has opened up access to customers on both sides of our marketplace. We have also leveraged our deep networks within corporate power procurement and energy storage development to talk to key decision-makers at innovative companies with aggressive climate goals to become early adopters of our products and services." — Emma Konet, CTO and co-founder of Tierra Climate

    4. Long scale timelines

    "Scaling and commercializing industrial technologies takes time. We realized this early on and designed the eXERO technology to be scalable from the onset. We developed the technology at the nexus of traditional electrolysis and conventional gas processing, taking the best of both worlds while avoiding their main pitfalls." — Claus Nussgruber, CEO of Utility Global

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    This article originally ran on EnergyCapital.

    Get to know the startups in the running for the Houston Innovation Awards People's Choice award. Photos courtesy

    Here's what companies are in the running for Houston's startup of the year

    you decide

    There's one category at the 2023 Houston Innovation Awards that's yet to be decided — and that's because the decision is up to you.

    The People's Choice: Startup of the Year category will honor the fan favorite of this year's awards. Seven companies will be showcasing their unique technologies at the event, and attendees get to decide their fate.

    Click here to secure your tickets to the November 8 event where you get to help choose the winner of this exciting category.

    Here are the seven companies, selected by this year's judges, who are up for the honor.

    Blue People, helping bring ideas to life through software development expertise.

    Enrique Carro, CEO of Blue People. Photo courtesy of Blue People

    What's the company culture like at your company? How big of a priority is maintaining it as the company grows?

    At our company, culture isn't just a buzzword; it's the heart of who we are. We have this fun concept called the "Blue Tags" where everyone picks a cool, sometimes hilarious, nickname—it's our way of saying, "Hey, we love your uniqueness!" And guess what? Fridays are special because we gather employees for a celebratory meeting where tequila shots are allowed that we call Viernes De Shots (Friday's Shots). However, it's not just about the shots; it's about building connections and recognizing our achievements as a team. Furthermore, our "Blue Principles", or what other companies call core values, guide us every day, woven into everything we do. As we grow, keeping this inclusive vibe alive is at the top of our to-do list! Cheers to a unique and awesome workplace!

    How would you describe your leadership style in three words?

    Adaptive, inspirational, and empowering

    How has your company given back to the community in the past year or so?

    In the past year, our company has been deeply committed to giving back to the community through various initiatives. We actively engaged in the Tejano Tech Summit and fostered dialogue with Tech & Tequila talks. Moreover, we dedicated our time as judges in the Young Inventors competition, encouraging and supporting young talent. Our CTO played a pivotal role by mentoring students in software engineering projects, emphasizing cloud technology, modern stack, and agile methodologies. We also proudly emerged as winners in the 50 cent G-Unity Business Lab Pitch competition and actively participated in programs like gener8tor gBeta accelerator and Codelaunch. Additionally, we extended our outreach to the academic realm, coaching and mentoring participants in events such as the Sam Houston State University Innovation Pitch Competition, where we achieved 1st place, and collaborating with Latin Venture Studio as partners. As a testament to our commitment to community engagement, we are part of the DevOpsDays Houston organization committee, contributing to a series of technical conferences. Furthermore, we play a role in The Houston Tech Rodeo, showcasing the best of the Houston startup community through conferences and friendly competitions, reinforcing our dedication to the growth and development of the community we are part of.

    DrySee, innovative waterproof dressing with liquid intrusion technology.

    Robert Bradley Greer is the CEO of DrySee. Photo via LinkedIn

    What's the company culture like at your company? How big of a priority is maintaining it as the company grows?

    DrySee has an adaptive environment with open communication and transparency. Our leadership is available to receive and provide regular feedback, and values the spirit of entrepreneurship. DrySee feels that the imaginative and engaged atmosphere is important to our growth and success.

    How would you describe your leadership style in three words?

    Inclusive, team-oriented, and consensus-driven.

    How has your company given back to the community in the past year or so?

    We donated thousands of DrySee bandages to the medical efforts in Ukraine.

    Eden Grow Systems, next generation farming technologies.

    Leo Barton Womack Jr is the CEO of Eden Grow Systems. Photo courtesy of Eden Grow

    What's the company culture like at your company? How big of a priority is maintaining it as the company grows?

    We are on a mission to bring food sovereignty to the people. Our vision is that our world is A Garden OF Eden, and we are here to serve it.

    How would you describe your leadership style in three words?

    Service, example, and commitment.

    How has your company given back to the community in the past year or so?

    We are deploying our systems into food desserts, schools, Ukraine, and around the world helping underserved communities begin their journey to food independence.

    Feelit Technologies, nanotechnology for preventive maintenance to eliminate leaks, fires and explosions, increase safety and reduce downtime.

    Shoshi Kaganovsky, president of North America at Feelit Technologies. Photo courtesy of Feelit

    What's the company culture like at your company? How big of a priority is maintaining it as the company grows?

    Culture is people-oriented. We are focusing on building a team that lasts. Diversity is key. Giving chances and creating opportunities is what will advance our world further. We believe that the human asset is the most important asset we have. It's a huge priority for us to maintain this is make sure that as we grow, our culture leads the way for us, with respect, dedication and innovation.

    How would you describe your leadership style in three words?

    Lead by example.

    How has your company given back to the community in the past year or so?

    School supplies, mentorship programs for children, sponsorship and hiring people from war zones/conflicted territories.

    Fervo Energy, leveraging proven oil and gas drilling technology to deliver 24/7 carbon-free geothermal energy.

    Tim Latimer, CEO and co-founder of Fervo Energy. Photo via LinkedIn

    What's the company culture like at your company? How big of a priority is maintaining it as the company grows?

    Fervo's culture revolves around four core values: build things that last; innovate through collaboration; do what we say we're going to do; stop and smell the roses. Taken together, these values create a highly creative, collaborative, and optimistic culture in which employees are encouraged to be open-minded, honest, and supportive. Maintaining this culture as Fervo's scales is one of the executive team's highest priorities.

    How would you describe your leadership style in three words?

    Visionary, determined, and collaborative.

    How has your company given back to the community in the past year or so?

    Fervo has joined the Real Energy Alliance of Houston and the Greater Houston Partnership to contribute to the broader Houston business and environmental community. Fervo also sponsored a class at Rice University to provide undergrads with clean energy mentorship and experiential learning opportunities. Fervo also recruited summer interns from the University of Houston Bauer College of Business.

    Rhythm Energy, 100 percent renewable electricity service for residential customers in Texas.

    P.J. Popovic, CEO of Houston-based Rhythm Energy. Photo courtesy of Rhythm

    What's the company culture like at your company? How big of a priority is maintaining it as the company grows?

    At Rhythm Energy, our company culture is defined by several key aspects: Passionate: Our team is genuinely passionate about renewable energy and our mission to make a positive impact on the planet. Collaborative: Collaboration is at the heart of our culture. We encourage cross-functional teamwork and open communication. Encouraging: We foster an environment that encourages innovation and supports employees in pursuing their ideas and initiatives. Flexibility: Our employees appreciate the flexibility we offer, allowing them to balance work and life effectively. Impact: Everyone at Rhythm Energy understands the meaningful impact our work has on the environment and society. Maintaining this culture is a top priority for us as we grow. We take proactive steps, such as quarterly surveys and team discussions, to gather feedback and implement positive changes. Our commitment to preserving this culture remains unwavering.

    How would you describe your leadership style in three words?

    Visionary, resilient, and approachable.

    How has your company given back to the community in the past year or so?

    Rhythm gives back to the community in a variety of ways. First, we have a very sustainable approach to our work environment, which promotes a remote first work culture, recycles, composts, and uses sustainable office supplies. Second, we actively participate in community service projects, whether volunteering at the Houston Food Bank, doing park clean up at Buffalo Bayou Park or planting trees at Memorial Park. Last, but not least, we partner with many local organizations, such as elementary school PTOs, youth sports clubs and performing arts education programs like Theatre Under the Stars, and really focus on giving back and educating the youth in the community, as they are the future and most impacted by our sustainable decisions today.

    The Postage, a comprehensive life planning and succession software platform for families and small businesses.

    Emily Cisek, CEO and co-founder of The Postage. Photo courtesy of The Postage

    What's the company culture like at your company? How big of a priority is maintaining it as the company grows?

    At The Postage, our company culture is all about understanding, supporting, and empowering each other. We're like a team of sailors, believing that when we lift one boat, we lift all. We value empathy, making sure we put ourselves in our customers' shoes, understanding their needs, and building solutions that truly matter. Everyone is encouraged to go that extra mile, take initiative, and embrace challenges as opportunities to learn and grow. We believe in transparency, keeping communication open, honest, and straightforward. As we grow, keeping this culture alive and thriving is a big deal for us. It's what makes us who we are, and we'll keep nurturing it because it's key to our success and how we want to make a positive mark in the world.

    How would you describe your leadership style in three words?

    Empathetic, transparent, and empowering.

    How has your company given back to the community in the past year or so?

    At The Postage, we're all about giving back and spreading kindness in the community. For the past three years, we've been honored to partner with the Smilin Rylen Foundation, a cause that truly hits home for us. Rylen's spirit is a big inspiration for us. He's a driving force behind our dedication to making a positive impact every day. So, to celebrate his life we encourage acts of kindness within our team and community. Small gestures, like helping out or sharing a kind word, mean a lot to us and embody the positivity Rylen always shared. Our commitment doesn't stop there. We proudly support the Smilin Rylen Foundation, not only financially but by getting involved in their events. We believe in spreading kindness and compassion, just as they do. At The Postage, we're all about making a positive mark, and Houston is our hub to make that happen. We're committed to uplifting our diverse and vibrant community, embracing the opportunity to lead the way. Even though we're a young company, our goal of creating a positive impact on people's lives remains strong, and we're thrilled about the future and the potential to keep making a meaningful difference, right here in Houston and beyond.

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    Houston investors back new platform for retail traders looking to follow financial influencers

    making a splash

    As anyone who witnessed the impact Gamestop's meme stock had on the country already realizes, influential investors can drive momentum within the financial sector. And one company with fresh funding from a Houston firm is betting on that exactly.

    CashPool is a new mobile platform that gives everyday investors the opportunity to derive influence from the investment strategies and trades made by trusted and influential stock traders who have built substantial followings on social media platforms. By allowing retail traders the chance to join social media influencers’ various “pools” on its platform, CashPool is primed to change the way the masses acquire wealth.

    This is the kind of algorithmic trading aimed at a new generation of investors that gets the attention of early-stage venture capital funds like Houston-based Ten X Labs, a pre-seed angel fund that recently invested in CashPool to help the trading platform continue its mission of transforming the investment landscape.

    "We are thrilled to receive funding from Ten X Labs, as it validates our innovative approach to trading and investing," CashPool Founder and CEO Averett Barksdale says in a news release. "This investment will enable us to further enhance our platform, expand our user base and continue to revolutionize the industry. We believe that everyone should have transparent, governed access to profitable trading and investment opportunities, and through CashPool we are making that vision a reality."

    Connecting the dots

    CashPool is broker agnostic connector, allowing its users to keep their current brokers like Robinhood, Coinbase, Charles Schwab, Acorns, Fidelity, ETRADE, Stash, Sofi and Betterment and creates a seamless investment experience.

    “We are that middle piece,” says Barksdale. “So your money stays on whatever brokerage you’ve connected to the platform, and we just execute the trades on your brokerage for you.”

    Considering that users’ money remains with their original brokerage, how does CashPool monetize its platform?

    “We don’t charge users to execute trades,” says Barksdale. “We charge per pool you join. So, on our platform, strategies are called pools and a user can join as many strategies as they want.”

    Financial influencers set the strategies. These are profitable traders who have become influencers on various social media platforms and built-up followings comprised of people who are or are desiring to be retail traders themselves.

    “There are a ton of people out there who actually are profitable traders,” says Barksdale. “Same as what we saw happen with GameStop and the whole Reddit situation. That was a financial influencer, right? It just so happens that he had a strategy that he thought would work and it turned out for a while it did work, right?

    “We want to not only empower the retail trader, but empower these financial influencers who are profitable as well. Just because it's a whole marketplace out there for it. But a lot of times the retail trader doesn't quite understand who to go with. On our platform, you could see the results of these financial influencers right before your eyes on our platform. So you can see if they're profitable or not, or if someone's just on Instagram or whatever, social media platform posting screenshots but aren’t actually executing those trades.”

    Increasing transparency

    With trading, past success can be an arbiter for future performance, so with CashPool, users can choose to join the pools of influencers who have documented success as a trader on the platform.

    “On our platform you can't hide,” says Barksdale. “We're connected to their brokerage account, so we see what trades they're making in real time. We also see their performance in real time, and we display that on the platform. That's something that you really can't get around. So if someone on Instagram says they traded this stock, then I made X amount of dollars and had this percentage of return, then you go to the platform and look at your pool and see they didn't do that and were lying the whole time, it’s literally just putting everything out there in the open. We have the kind of transparency that doesn't exist currently right now in the space.”

    Broadcasting one’s successes is easy, but what about the losses?

    “I thought it was going to be a lot more difficult just thinking, do people really want to show what they're doing?” says Barksdale. “But the thing that I've seen is a lot of these traders are a whole lot more competitive. And the traders who are doing it, they're constantly talking out against people who aren't actually doing it in real life.

    “A lot of the traders who are actually profitable, they do live trades every day. But how do users if they should pay to get into a specific trader’s live trading session? Like, how do they know they're profitable already?

    “On CashPool, users can see an actual influencer's win rate and say, 'Okay, 86 percent of the time they are profitable, and I could see how many trades they've made in total.' From that standpoint, users can make an educated decision on what pools to join and pay for.”

    CashPool users can join as many pools as they see fit, but the cost of each pool’s membership may vary due to the popularity or success percentage rate of the financial influencer.

    “You can join as many pools as you want, but what we suggest is you start by joining the pools of influencers that you already follow and trust, that you're already following like on Twitter or YouTube or Instagram or whatever it may be,” says Barksdale. “We are suggesting that you follow them first and you join their pools first. What we do is on the monetization side is we allow the creators on our platform who are the influencers to set their own price for their pool.”

    Building a secure network

    Outside of who or what to follow, information security is likely a concern for potential users. Financial influencers’ trade information is readily available (win percentages and number of trades, not dollar amounts), but users’ won’t be able to see other users’ information on the platform.

    “Currently, we have a list of 10 brokerages who are on board, and then we're working to onboard more as we keep going on,” says Barksdale. “So, we have like your Interactive brokerages, and we also have a few other ones that are UK specific and Canada specific. We would love to have every single brokerage on the platform, but unfortunately, there are a couple that are still kind of playing hard to get, so to speak.”

    The first rollout of CashPool is set, but version two will likely include content creation from the financial influencers.

    Barksdale, who has a background in product development and experience working at companies like Charles Schwab and Fidelity, is mostly excited about the prospect of CashPool unlocking expert financial strategies for everyone, not just the financial advisors behind the closed doors of Wall Street.

    “Yes, my philosophy is that financial health and financial growth should be accessible for all,” says Barksdale. “The thing that gets me is it needs to be responsible. So, for example, RobinHood is a platform that doesn't necessarily care if you are making responsible decisions, they just care that you're trading on that platform.

    “Our platform is strictly focused on actually being the place where these retail traders can make responsible decisions centered around investing and trading.”

    Tech companies contribute to recovery fund for those affected by Houston storm

    helping hands

    The past month in Houston has been marked by severe flooding and a sudden storm that left nearly a million residents without power. The Houston Disaster Alliance has established the Severe Weather and Derecho Recovery Fund to help those impacted by the weather.

    “The Greater Houston Disaster Alliance was formed so that in times of crisis, there is a swift and efficient response to help those severely impacted begin the process of recovery,” said Stephen Maislin, president and CEO, Greater Houston Community Foundation. “When disaster strikes, it requires a collaborative and coordinated response from the nonprofit, for-profit, public sector, and philanthropic community to ensure the most vulnerable in our region get the help they need to start the recovery and rebuilding process.”

    At least a million dollars has been donated to the fund, courtesy of $500,000 from the CenterPoint Energy Foundation and another $500,000 from Comcast. With Houston now a federally declared disaster area by President Joe Biden, impacted residents are able to apply for various grants and aid.

    Those still struggling from the weather events should call the 211 Texas/United Way HELPLINE. Assistance is available for housing, utilities, food, elder assistance, and other areas. Crisis counseling is also available.

    “Outside of times of disaster, we know that 14 percent of households in our region are struggling on income below the federal poverty line and 31 percent of households in our region are working hard but struggling to make ends meet. It’s these neighbors who are disproportionately impacted when disaster strikes,” said Amanda McMillian, president and CEO, United Way of Greater Houston. “This fund allows us to lift up the most vulnerable who have been impacted by recent weather events to ensure they can not only recover from the immediate crisis, but also prepare themselves for future disasters.”

    The derecho storm that hit Houston on Thursday, May 16 had wind gusts up to 100mph. Nearly a million people in the Houston area were left without power, and as of Wednesday CenterPoint was still working to restore electricity to more than 60,000 people. Photos showed that the storm toppled massive power pylons, took down trees, and even ripped the sides off buildings. Miniature tornadoes touched down in parts of the city, adding to the devastation.

    The Houston Disaster Alliance was launched in 2023 as a joint effort between the Greater Houston Community Foundation and United Way of Greater Houston to help mitigate the damage of weather crises year-round. This has become increasingly necessary as Houston's weather has become more unpredictable than ever.

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    This article originally ran on CultureMap.