Robinhood CEO Vlad Tenev on tokenizing stocks, expanding access to private shares, fintech's future
All-In with Chamath, Jason, Sacks & Friedberg
All-In Podcast, LLC
4.2 • 7.1K Ratings
🗓️ 15 September 2025
⏱️ 26 minutes
🧾️ Download transcript
Summary
(0:00) Introducing Vlad Tenev
(0:51) Jason tells his story of investing in Robinhood
(3:17) Tokenizing securities, offering tokenized shares in OpenAI and SpaceX, controversy
(7:29) Operating under Trump vs Biden, why offering tokenized securities for private companies could be revolutionary
(17:01) Criticisms around expanding access to sophisticated financial products
(19:34) Current landscape of financial companies, Robinhood's future, competing with incumbents
(23:28) Harmonic and building mathematical superintelligence
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Transcript
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| 0:00.0 | I am Vlad Tennev, the founder of Robin Hood. |
| 0:04.0 | We're talking about Robin Hood. The stock's more than doubled since this last report. |
| 0:10.0 | Its stock surged 180% this year, after nearly doubling in 2024. |
| 0:16.0 | The shares of the trading platform now up more than 400% in the last year. |
| 0:20.0 | Glad your presence there speaks volumes. |
| 0:22.5 | Robin Hood Gold, which hit a record 3.5 million subscribers. |
| 0:26.3 | Most financial services get worse, the more money you have. |
| 0:29.5 | But we wanted to kind of invert that. |
| 0:31.5 | Ladies and gentlemen, please welcome Robin Hood CEO Vlad Tenor. |
| 0:46.5 | My guy. |
| 0:47.9 | Good to see you, brother. |
| 0:49.3 | Chamath, good to see you. |
| 0:51.1 | Glad, it's so great. |
| 0:51.7 | You're the reason Jake Health here. |
| 0:53.7 | I mean, it is a great story. |
| 0:57.8 | It's so true. |
| 0:58.9 | J-Cal bumbles into eight shares of Robin Hood. |
| 1:02.1 | Vlad builds a $100 billion company. |
| 1:03.9 | It's unbelievable. |
| 1:04.9 | I mean, people know me for the Uber investment. |
| 1:07.4 | It was $4 or $5 million valuation. |
| 1:10.1 | When do I flip that? Well, yeah, it's going to take a little more. I think you got 20x left to go, but... Wait, was Jekal the third or fourth investor in Robin Hood? It was $20 million valuation, but it's a good story, I think, because you hadn't launched, and we're at Antonio's Nut House. I went for a drink with my friend |
... |
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