Wikipedia

Andrei Cherny

Andrei Hugo Cherny (born August 4, 1975) is an American politician and businessman. He served as the chair of the Arizona Democratic Party from 2011–2012. He co-founded Aspiration, Inc., an eco-friendly financial firm based in Marina del Rey, California, and was its chief executive officer from 2013 to October 2022.[1]

Andrei Cherny
Cherny in 2012
Chair of the Arizona Democratic Party
In office
January 22, 2011 – January 30, 2012
Preceded byDon Bivens
Succeeded byBill Roe
Personal details
Born
Andrei Hugo Cherny

(1975-08-04) August 4, 1975 (age 49)
Los Angeles, California, U.S.
Political partyDemocratic
SpouseStephanie Fleischman
Children2
EducationHarvard University (BA)
University of California, Berkeley (JD)

Earlier in his career, Cherny co-founded Democracy: A Journal of Ideas. Later he was a candidate for various Arizona state offices, and in congressional district primary elections.

Early life and education

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Cherny was born in Los Angeles, on August 4, 1975. His parents, Helena and Pavel, were Czechoslovak Jewish immigrants who initially spoke little English.[2][3][4]

After graduating from North Hollywood High School, Cherny graduated with honors from Harvard College. He later received his Juris Doctor from the UC Berkeley School of Law with support from The Paul & Daisy Soros Fellowships for New Americans.

Cherny was an officer in the U.S. Navy Reserve.[5]

Business career

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Cherny co-founded Aspiration, Inc., an online financial company, with Joseph Sanberg in 2013.[6] Cherny left his position as chief executive officer in 2022 after a deal to go public as a special purpose acquisition company (SPAC) at a $2.3 billion valuation fell through.[7][8]

Aspiration aimed to sell carbon offsets and credits to businesses.[7][8] Under Cherny's leadership, Aspiration created cash management accounts that ensured customers' deposits were with banks that did not lend to fossil fuel companies.[9] By 2021, it was reported to have over 5 million customers.[10] In June 2021, Cherny wrote a commentary in Fortune explaining his decision to raise his company's minimum wage to $25/hour.[11][12]

Aspiration investigation

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The company is being investigated for potential misconduct related to carbon credit transactions.[13][7]

In January 2024, the U.S. Department of Justice and the Commodity Futures Trading Commission initiated a probe into whether Aspiration "misled customers about the quality of the carbon offsets it was selling".[7] Bloomberg reported that authorities were reviewing Cherny's actions as part of the investigation.[7][14] Cherny, who retains financial interests in the company, said in a statement that he will cooperate, saying, "The carbon removal credit industry is an emerging industry and deserves to be regulated and scrutinized to ensure it is as effective as possible".[13]

Political career

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As a writer for The Harvard Crimson, Cherny wrote political pieces highlighting Bill Clinton's 1996 reelection campaign.[15] The White House Communications Director noticed his column and circulated it until it finally reached President Clinton's desk. Clinton used several of Cherny's lines in his 1997 inaugural address and hired the twenty-one-year-old Cherny after his graduation.[16]

He was the chief drafter of the 2000 Democratic Party platform when Al Gore was the nominee for president.[17]

Cherny was a speechwriter for the John Kerry 2004 presidential campaign.[18]

Cherny was a visiting fellow at the Belfer Center for Science and International Affairs in 2004.[19]

In 2006, Cherny co-founded Democracy, a public policy journal.[20]

In 2011, he was a Senior Fellow at the Center for American Progress.[21]

From 2006 to 2009, Cherny served as a criminal prosecutor and Arizona Assistant Attorney General.[22][23]

He is also the author of the non-fiction books The Next Deal: The Future of Public Life in the Information Age, (2008)[24] and The Candy Bombers: The Untold Story of the Berlin Airlift and America's Finest Hour. (2010)[25]

Political campaigns

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In 2001, Cherny ran for the California State Assembly, losing to Lloyd E. Levine.[26]

In 2010, Cherny was the Democratic nominee for state Treasurer of Arizona and lost the election to Republican Doug Ducey.

Cherny served as Chairman of the Arizona Democratic Party from January 22, 2011,[27] through January 30, 2012.[15]

In 2012, Cherny lost the Democratic primary for Arizona's 9th congressional district to Kyrsten Sinema.[28][29]

In 2024, Cherny lost the Democratic primary for Arizona's 1st congressional district to Amish Shah.[30]

Publications

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  • Cherny, A. (2001). The Next Deal: The Future of Public Life in the Information Age, United States: Basic Books.
  • Cherny, A. (2008). The Candy Bombers: The Untold Story of the Berlin Aircraft and America's Finest Hour. United States: Penguin Publishing Group.

References

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  1. ^ "Aspiration Announces Olivia Albrecht as CEO". businesswire. 2022-10-13. Retrieved 2022-10-13.
  2. ^ "Fleischman-Cherny". Jewish Exponent.
  3. ^ "Heated primary race - Jewish News of Greater Phoenix". www.jewishaz.com. Archived from the original on 27 January 2013. Retrieved 26 January 2022.
  4. ^ "Why Arizona Democrat Andrei Cherny, 'Clinton's Truest Heir,' Has Made Israel the Focus of His Congressional Race". Tablet Magazine.
  5. ^ Kavaler, Tara (April 6, 2023). "Democrat Andrei Cherny to challenge Rep. David Schweikert". The Arizona Republic. Retrieved 12 February 2024.
  6. ^ Henry, Zoë (2017-06-15). "This Founder Grew Up on Food Stamps. Now He Runs a Digital Money Manager for the Middle Class". Inc.com. Retrieved 2019-12-25.
  7. ^ a b c d e Gersony, Laura (January 20, 2024). "The eco-friendly company this Arizona congressional candidate co-founded is under federal scrutiny". The Arizona Republic. Retrieved 6 February 2024.
  8. ^ a b Kauflin, Jeff. "A Floundering Fintech's Risky Reboot". Forbes. Retrieved 2024-01-30.
  9. ^ Egan, Matt (2019-06-26). "Startup Bank Aspiration Is Trying To Be the Anti Wells Fargo. It's Working". cnn.com.
  10. ^ Ali, Ambreen (2021-09-24). "A New Generation of Climate Fintech Startups". fortune.com.
  11. ^ Cherney, Andrei (June 11, 2021). "Commentary: Here's why I raised my company's minimum wage to $25 an hour". Fortune. Retrieved 2024-02-14.
  12. ^ "Aspiration Announces Increase of Companywide Minimum Wage to $25 Effective in 2021". www.businesswire.com. 2021-05-24. Retrieved 2024-02-25.
  13. ^ a b Schutsky, Wayne (20 January 2024). "Report: Financial regulators probe Arizona congressional candidate's former company". KJZZ. Retrieved 8 February 2024.
  14. ^ "US Probes Firm Tapped to Turn LA's New Basketball Arena Green". Bloomberg.com. 2024-01-18. Retrieved 2024-01-30.
  15. ^ a b "Arizona Democratic Party leader Andrei Cherny announces resignation". azcentral.com.
  16. ^ "Alum Makes Bid for Ariz. Congress Seat | News | The Harvard Crimson". www.thecrimson.com.
  17. ^ "PUBLIC LIVES - At 24, a Political Veteran, Vacuum Cleaner to Platform - NYTimes.com". The New York Times. 3 July 2000.
  18. ^ "THE 2004 CAMPAIGN - THE MASSACHUSETTS SENATOR - With Cry of 'Bring It On,' Kerry Shifted Tack to Regain Footing - NYTimes.com". The New York Times. 1 February 2004.
  19. ^ "Andrei Cherny". Belfer Center for Science and International Affairs. 6 January 2017.
  20. ^ Kaplan, Jonathan (June 20, 2006). "Hoping to emulate conservative success, Dem young guns launch journal of ideas". The Hill. Archived from the original on October 30, 2006. Retrieved January 16, 2007.
  21. ^ "RELEASE: Andrei Cherny Joins CAP as Senior Fellow". name. 8 June 2011.
  22. ^ "Goddard Throws 'Full Support' Behind Cherny". Archived from the original on 2012-03-19. Retrieved 2012-10-29.
  23. ^ "Andrei Cherny". East Valley Tribune. 3 August 2010.
  24. ^ Cherny, Andrei (7 January 2008). The Next Deal. Basic Books. ISBN 9780465012251.
  25. ^ "The Candy Bombers by Andrei Cherny". Archived from the original on 2014-12-11.
  26. ^ "STATE ASSEMBLY: CHERNY, LEVINE IN DEAD HEAT; MONTANEZ AHEAD OF FUENTES".
  27. ^ http://www.phoenixnewtimes.com/2011-01-27/news/new-hope/ New Democratic Party Chairman Andrei Cherny - Phoenix New Times 2011-1-27
  28. ^ González, Daniel (Aug 28, 2012). "Sinema, Parker win in Congressional District 9". Arizona Republic.
  29. ^ "Arizona election results - Phoenix elections results". Retrieved June 5, 2013.
  30. ^ "Cherny concedes defeat in Arizona congressional race". The Arizona Republic.

Further reading

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Party political offices
Preceded by Chair of the Arizona Democratic Party
2011–2012 		Succeeded by
Bill Roe
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