Robinhood

“GameStop was one of the collection of free, free stocks that was given to customers.”

“I was like, I don't want to be a wellness day company. We have generous PTO. Take a PTO. And this whole idea that an entire org or team would take the same day off. That seems like a problem. What if there's an issue and we need someone? The entire org is taki…”

“We're doing one on December 16th of this year. So towards the end of the year, and it's called yes, no. So it's an event on prediction markets and AI.”

“We become a business that has 11 business lines now with over a hundred million in annual revenue.”

“So we have a great IPO access offering, which is the number one retail channel for IPO participation. And we started this in 20, 21 around the time that we went public. And we've done, I think, roughly 50 IPOs since the beginning.”

“We followed that up with Robinhood retirement, which has Over one and a half million accounts.”

“And I think the same thing is going to happen for private retail access. It's just going to go earlier stage, but the benefits are so strong that I think that there'll be It'll be standardized as time goes on.”

“I think it's a cost structure problem. You look at the big credit card companies and they have tens of thousands of people, right? Tens of thousands of people that are manually servicing the, these accounts and, you know, that they spend a ton of money on mark…”

“So in order to get the three percent cash back, you actually have to deposit the funds into your brokerage account. And so we've created this flywheel through Robinhood Gold where by using the credit card, you also use the brokerage product... If someone uses …”

“By and large, if you interact with customer service on Robinhood, you're interacting with our AI agents.”

“I don't like having a lot of one-on-ones and some people are big one-on-one fans, but over time I've You know, my one on ones are basically on demand when you need something critical or some important decision needs to be made.”

“We went from IPO-ing at about a thirty two billion dollar valuation in 2020 one to in 2022, we were We were trading at like six dollars and change. So we lost. 80% plus of our market value since IPO”

“A lot of the companies in our space tend to get older as they get further along, and the, you know, the folks working there can be more disconnected from the young people, and then that puts you at risk of becoming a more of a generational company in the sense…”

“We had to make a tough call to put GameStop and a bunch of other companies on position closing only, which basically meant you couldn't open up new positions, take on more risk for a period of about one day.”

“We don't really have any business with hedge funds.”

“Generally speaking, I think what most companies suffer from is process getting in the way and actually making it very, very difficult for people to get rid of low performers.”

“And it's a combination of things that you won't get anywhere else, like real-time cash delivery. Which is available in New York. So if you're actually here domiciled, you can try that out.”

“Think about a typical company. People are paid Generally proportional to the org size that they manage. And if you think about what that incentivizes empire building. I want to have a big org with a big team because then according to traditional HR metrics, I'…”

“So I don't think we necessarily want to get into the mortgage underwriting business or holding mortgages, but we want to get, we want to help people with all of their financial needs. And I think for that one, being a network and allowing different banks to co…”

“Even though it's still not completely generally available, we do have over half a million cardholders and we're among the fastest growing credit cards.”

“Then you have phase three, which is, okay, now I can actually do non-read only actions. I can change stuff. Maybe I'll refund you if, you know, you're not happy with your purchase. You can refund your gold subscription fee. So that involves actually some prett…”

“Yeah, and we have a mortgage partnership with Sage Home Loans that gives you 75 basis points off of the national average.”

“We went from, I'd say, end of 20 19, we had 700 people and something like 202 hundred and change million in annual revenue to in the next year, end of 20 20, we had thousands of people and close to a billion in revenue. It's like a three, three, three X plus i…”