Financial

beam is a san francisco-based technology company that offers high-interest, fdic-insured bank accounts via a mobile app. without branch locations and high overhead costs of traditional banks, beam is able to offer higher rates than its peers. high-interest bank accounts have been historical mostly available to high-net-worth individuals with large minimum balances. for beam, there are no minimum deposits or fees. beam has created technology that now allows the 99% to have access to the highest interest rate levels that were once only available to the wealthy. the mission of beam the product we are fixing is one that everyone has, but few understands how it really works—your bank account. when you open a bank account, you are effectively loaning your cash to the bank at negative real interest. why? inflation at the time of this writing is near 2%, and your cash is likely sitting at one of the big four banks earning 0.01% interest. that compounds significantly over time. this is—in