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This is the best summary I could come up with:

Teamshares is a low-flying, New York-based startup with big ambitions to capitalize on an opportunity in plain sight: that of small businesses without a succession plan.

In fact, according to co-founder and CEO Michael Brown, Teamshares doesn’t want to sell the companies it is buying — ever.

We built a neobank, we’re soon to launch credit cards, and we’re building an insurance business as well, so there’s a secondary layer of financial products that will basically replace the vendors that the companies used to use.

We only build something if a product doesn’t exist for our exact use case, which is some combination of really traditional small business or employee ownership.

When we set out, we didn’t think we’d build a neobank, but there just wasn’t something that existed to our satisfaction, in part because small businesses still unfortunately receive a lot of checks.

In terms of the Berkshire Hathaway piece, we subscribe to a lot of their philosophy about being very long-term minded and being pretty efficient in our underwriting and keeping things simple.

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