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E22: Reflecting on the Robinhood situation with Bestie Guestie Vlad Tenev
All-In with Chamath, Jason, Sacks & Friedberg
You Have a Liquidity Issue?
i stand by what i said, and i'll explain it. First of all, restricting securities is something that every, pretty much every broker did to some degree during this weekrit. So when you say the elward and financial services, it reminds you of leman brothers, where you literally are not able to operate your business. The new capital that we raised, the three point four billion, wasn't to meet our ongoing deposit requirements. We had met them, and in order to relax them and eventually unrestrict them, we needed to raise some more capital and eventually have a more cushion.
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