Robinhood CEO Vlad Tenev: The Rise of the Retail Investor

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 28 October 2020

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Robinhood, the trading app that took young people and financiers by storm, now boasts 13 million user accounts. Its zero-commission trading model prompted an overhaul of the online brokerage ecosystem, although the company has run into SEC investigations, hackers, and performance outages along the way. In an extended interview with Andrew Ross Sorkin, CEO Vlad Tenev discusses the role Robinhood plays in the financial system and the risks and rewards of retail investors engaging in high volume trading. Tenev addresses wide ranging criticisms of his platform, and considers what’s next for the $11B-valued app.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today on our podcast.
0:07.0	Robin Hood, the hot topic of Tik-Toc and of Wall Street, CEO Vlad Tenev on his stock trading app and why it's so popular.
0:15.0	Now that the barriers are lower, allowing so many more young people to participate,
0:20.0	it's clear to people that it's not just for the wealthy.
0:23.3	How he protects the 13 million user accounts
0:26.1	trading on his app every day.
0:27.8	In terms of volatility, we have to be prepared for anything.
0:32.2	And why Robin Hood is more than an app,
0:34.7	and it's more than a fad.
0:36.0	The US stock market has been a great engine
0:38.8	of wealth creation for the past century or more.
0:42.4	And I think giving people tools to get access to that
0:47.2	especially in these times which are unique is is going to be only more important over time
0:53.0	this special sit down with Vlad Teneuve and Andrew Ross Sorkin,
0:56.4	plus post-chat analysis with Joe Curtin and Becky Quick,
0:59.7	all on today's podcast.
1:01.6	It's Wednesday, October 28th 2020, Squaff Pod begins right after this.
1:07.0	Hey, Vlad, how are you?
1:13.0	Hey Andrew, good to hear you.
1:15.0	You're listening to Squak Pod, taking you behind the sounds of Squakbox on CnBC.
1:20.0	As long as you can hear me, it's good, And I can hear you, and I actually can see you,
1:24.4	and you look great.
	...

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