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20VC Assertion Partly supported
FOMO Operates With No Meetings, One-on-Ones, or Hierarchy
“So currently FOMO is extremely horizontal. We don't have meetings, one-on-ones. We don't really have any hierarchy. Everyone is kind of self-reporting.”
Paul Erlang Jun 27, 2026 ▶ 22:49 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Prediction Not checkable as stated
Spending 20% of Developer Salaries on AI Tokens Is Realistic
“But, yeah, so hopefully they get cheaper with time, energy gets cheaper, compute gets cheaper, and then these things get cheaper, but at the current state, absolutely. I think 20% is definitely within reason.”
Paul Erlang Jun 27, 2026 ▶ 27:18 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Prediction Not checkable as stated
OpenAI and Anthropic IPO Performance Hinges on SpaceX
“I think if SpaceX performs well, the OpenAI Anthropic IPOs will also go very well. I think if SpaceX performs poorly, then those are going to have a hard time.”
Paul Erlang Jun 27, 2026 ▶ 53:04 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Robinhood's Horizontal Scaling Blocked Global Expansion
“They grew their business and they were able to saturate the U S market. But they weren't able to go global.”
Paul Erlang Jun 27, 2026 ▶ 9:43 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not publicly verifiable
Trader Turned $10K Into $2.5M Overnight on FOMO
“This guy, Iceman, who turned, he turned 10 K to two and a half million dollars overnight in one night on FOMO.”
Paul Erlang Jun 27, 2026 ▶ 31:40 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
FOMO Team Took No Salary for First Eight Months of Building
“For the first eight months to building, no one on our team took any pay.”
Paul Erlang Jun 27, 2026 ▶ 14:24 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Partly supported
Hyperliquid Pre-IPO Perpetual Prices Converged to Cerebras IPO Valuation
“So what we saw with Cerebris is when the IPO happened, the hyper liquid price started to converge to that price at IPO, right?”
Paul Erlang Jun 27, 2026 ▶ 8:47 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Retail Investors Gain Earlier Access to Private Markets via Perpetuals
“With pre-IPO, with prediction markets, retail gets access to these markets earlier and earlier.”
Paul Erlang Jun 27, 2026 ▶ 9:00 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
FOMO Currently Has 50,000 to 60,000 Daily Active Users
“We have 50, 60,000 daily active users.”
Paul Erlang Jun 27, 2026 ▶ 13:15 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Peter Fenton Used FOMO's App Throughout Benchmark's Pitch Meeting
“I remember Peter Fenton was actually on his phone most of it. And I was like, kind of bummed out because I was like, damn, he's not interested. He's focusing on other things. He's doing emails. And I remember as soon as we finished the pitch, the first thing h…”
Paul Erlang Jun 27, 2026 ▶ 17:58 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Benchmark Did Not Offer the Highest Series A Valuation
“I think it was close, but not exactly the highest.”
Paul Erlang Jun 27, 2026 ▶ 18:25 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
FOMO Built Its Web App in One Month
“We built this product in three weeks, and this product is basically what entire other apps, their entire product is. You know, we built our web app in one month.”
Paul Erlang Jun 27, 2026 ▶ 24:47 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Prediction Not checkable as stated
FOMO Will Focus on Native Creators Over Mainstream Celebrities
“So I'm not trying to get LeBron James to trade on FOMO. I want these native creators.”
Paul Erlang Jun 27, 2026 ▶ 30:16 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Partly supported
Trader Turned $300 Into $1.5M in One Month on FOMO
“There's another guy, Remus, he turned, I think it was 300 dollars into one and a half million in a month.”
Paul Erlang Jun 27, 2026 ▶ 31:51 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Prediction Not checkable as stated
FOMO Plans to Verticalize All Infrastructure In-House
“Our plan is to kind of verticalize all of our infrastructure and own as much of it as we can in house.”
Paul Erlang Jun 27, 2026 ▶ 42:49 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Supported
Perpetual Contracts Bypass the Need for SPVs
“Yeah, you don't need an SPV for a perp.”
Paul Erlang Jun 27, 2026 ▶ 52:29 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Prediction Partly held up
FOMO to Launch Global Access to Equities and Perpetuals
“But we're soon gonna launch globally access to equities and perpetuals non-US obviously.”
Paul Erlang Jun 27, 2026 ▶ 1:49 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Supported
FOMO Currently Has 17 Total Employees
“We're at 17 total.”
Paul Erlang Jun 27, 2026 ▶ 23:07 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Robinhood's Early iOS Deposit Edge Was Caused by Android Bug
“One of the early stories from Robinhood I love is that the deposit amounts from people with iOS were twice the ones from people with Android. And their assumption was just, oh, like people with iPhone just have more money. So they're depositing more money. And…”
Paul Erlang Jun 27, 2026 ▶ 38:02 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
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