

20VC: Robinhood Founder Vlad Tenev on His Biggest Lessons Managing Through A Crisis, The Events of The Congressional Committee, Raising $2.4Bn Fast and Why It Was Necessary & Why It Is Ludicrous To Suggest Robinhood Put The Business Ahead of it's Customer
Mar 4, 2021
Vlad Tenev, the Founder and CEO of Robinhood, shares his insights from navigating a turbulent financial landscape. He discusses the inspiration behind Robinhood's creation during the Occupy Wall St movement and how the platform aims to democratize investing. Vlad addresses the recent crisis, clarifying misconceptions about Robinhood's role and the necessity of rapid capital raising to manage risk. He reflects on the emotional challenges of congressional testimony and emphasizes the importance of customer trust and morale during crises.
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Robinhood's Founding Story
- Vlad Tenev and Baiju Bhatt, both first-generation immigrants, met at Stanford.
- Their shared background and experiences during the 2008 financial crisis inspired them to create Robinhood.
Conflicting Criticisms
- Robinhood receives criticism from both sides of the spectrum.
- Some argue against individual investing, while others criticize Robinhood's trade restrictions.
Sheriff of Nottingham vs. Robin Hood
- Vlad Tenev acknowledges the negative sentiment around Robinhood's actions.
- He believes the truth will surface eventually, highlighting Robinhood's role in democratizing investing.