Decoder with Nilay Patel Are prediction markets gambling? Robinhood's Vlad Tenev is betting not
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Apr 14, 2025 
In this engaging conversation, Vlad Tenev, Co-founder and CEO of Robinhood, discusses the company's evolution from democratizing stock trading to offering bank accounts and wealth management services. He dives into the controversial realm of prediction markets, contrasting them with traditional gambling and emphasizing their potential role in shaping the future of finance. Tenev also tackles the complexities of regulatory challenges and the balance between data and intuition in investment decision-making, highlighting the need for innovative approaches in a rapidly changing financial landscape.
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Robinhood's Co-Founders
- Vlad Tenev and Baiju Bhatt, both physics majors, co-founded Robinhood.
- They transitioned from designers and engineers to managers and executives.
Democratizing Finance
- Tenev enjoys communicating Robinhood's vision and democratizing institutional power for individuals.
- He sees public company status as an opportunity to engage retail investors.
Robinhood's Organizational Structure
- Robinhood is structured by business lines, each with a general manager responsible for their own P&L.
- Centralized design, marketing, and brand ensure cohesiveness.