Episode
E22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
49:37
Published: Sat Feb 13 2021
Description
Follow the besties: https://twitter.com/chamath https://linktr.ee/calacanis https://twitter.com/DavidSacks https://twitter.com/friedberg https://twitter.com/vladtenev Follow the pod: https://twitter.com/theallinpod https://linktr.ee/allinpodcast Intro Music Credit: https://rb.gy/tppkzl https://twitter.com/yung_spielburg Intro Video Credit: https://twitter.com/MikeSylvan Show Notes: 0:00 Bestie intro, congrats to Friedberg on a big beak wet 1:44 Jason intros Vlad Tenev 2:48 Vlad fields questions on Robinhood's choice to stop the buying of $GME, his CNBC appearance, self-clearing, liquidity & more 11:02 Allowing access to margin, Robinhood's prior SEC fines, Robinhood accounts that go bankrupt, debunking conspiracy theories, WallStreetBets & more 21:57 Should there be more transparency in the financial markets? Will Robinhood's IPO shares be sold to their retail users? What will they change internally going forward, and how would they have handled the meme stocks situation differently? 31:04 Vlad tells the real story of Jason investing & signs off 33:51 Vlad's returns to answer more questions on users that lost everything, future of payment for order flow & more 41:36 Debriefing Vlad's performance
Chapters
The All-In Podcast welcomes David Friedberg, founder of The Production Board and The Climate Corporation, to discuss the impact of climate change on our world and industries, as well as his thoughts on the future of agriculture and technology.
00:00 - 01:14 (01:14)
Summary
The All-In Podcast welcomes David Friedberg, founder of The Production Board and The Climate Corporation, to discuss the impact of climate change on our world and industries, as well as his thoughts on the future of agriculture and technology.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts discuss the recent Robinhood-GameStop controversy and the role of market makers like Citadel Execution Services and 2Sigma.
01:14 - 06:59 (05:45)
Summary
The hosts discuss the recent Robinhood-GameStop controversy and the role of market makers like Citadel Execution Services and 2Sigma.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts discuss the risks and benefits of margin trading, including the ease of access to margin through apps like Robinhood and the recent increase in margin requirements for securities.
06:59 - 15:54 (08:54)
Summary
The hosts discuss the risks and benefits of margin trading, including the ease of access to margin through apps like Robinhood and the recent increase in margin requirements for securities. They also explore a use case for margin that could be helpful for investors.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The lack of transparency in the investment industry can lead to investors engaging in short term trades, ultimately resulting in losing money due to various fees and margins.
15:54 - 24:01 (08:07)
Summary
The lack of transparency in the investment industry can lead to investors engaging in short term trades, ultimately resulting in losing money due to various fees and margins. Real time settlement infrastructure can help improve transparency, but there may need to be more disclosure around margin shorting to fully address the issue.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker mentions that they have been pausing new account approvals off and on, leading to short delays for customers, which is not ideal but necessary to handle high loads of sign-ups.
24:01 - 29:38 (05:37)
Summary
The speaker mentions that they have been pausing new account approvals off and on, leading to short delays for customers, which is not ideal but necessary to handle high loads of sign-ups.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Robinhood's launch day was marred by a violation of PR and Marketing rules due to an inadvertent launch on a Saturday, coupled with poor handling of automated emails to customers regarding restricted stocks.
29:38 - 33:45 (04:06)
Summary
Robinhood's launch day was marred by a violation of PR and Marketing rules due to an inadvertent launch on a Saturday, coupled with poor handling of automated emails to customers regarding restricted stocks.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Robinhood's decision to freeze trading during the GameStop frenzy has led to widespread backlash and questions about their commitment to serving their customers.
33:45 - 36:53 (03:08)
Summary
Robinhood's decision to freeze trading during the GameStop frenzy has led to widespread backlash and questions about their commitment to serving their customers. Despite this, the company has vowed to improve and better serve their users in the future.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The innovation in trading platforms is to give consumers power by taking these costs to zero.
36:54 - 41:25 (04:31)
Summary
The innovation in trading platforms is to give consumers power by taking these costs to zero. However, the question now arises about the future of payment for order flow and revenue sharing, and whether a portion of that revenue should be shared with customers.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
This podcast reflects on the aftermath of the recent Gamestop short squeeze and the implications of Robinhood's actions.
41:27 - 48:16 (06:49)
Summary
This podcast reflects on the aftermath of the recent Gamestop short squeeze and the implications of Robinhood's actions. Despite the potential for retail investors to lose significant amounts of money, the speaker does not see the CEO of Robinhood as a bad guy.
EpisodeE22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast host says goodbye to his co-hosts and promotes a website, but the conversation takes an inappropriate turn with comments about an orgy and merchandise.
48:16 - 49:23 (01:06)
Summary
The podcast host says goodbye to his co-hosts and promotes a website, but the conversation takes an inappropriate turn with comments about an orgy and merchandise.