Learning notes from this episode:

• An algorithm is just a set of instructions that you put into a computer.
• JS created a prototype of his algorithm using a spreadsheet. The aim of his algorithm was to give out loans to customers. He bought lending data from the Lending Club and tested it against a control group. This means one set of loan applications was assessed by the algorithm and the other was done manually. By doing this, JS proved that his algorithm was making correct decisions.
• JS Kung does not have a co-founder. This is contrary to what a lot of prominent VCs say they want, but is in line with several successful founders who have spoken to us: Robyn Exton at HER, Asaf Navot at Home Made, and David Segura who sold Giant Media and is now one of NYC's top angel investors.

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