Robinhood ft. Vlad Tenev - Reinventing Finance for a New Generation
Crucible Moments
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The Rise of Free Trading and the Meme Stock Phenomenon
This chapter explores the significant shift in the financial industry as major brokerage firms eliminated commission fees, paralleling the disruption seen in technology. It recounts the challenges faced by Robinhood amidst a surge in trading volume during the pandemic, including a critical outage that tested customer trust. The narrative also delves into the unexpected rise of meme stocks like GameStop and AMC, highlighting the emotional connections investors formed during a tumultuous time.
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