Robinhood on the Road to Rebellion, & AOC at the Met: “Tax the Rich”

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 14 September 2021

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Metropolitan Museum of Art’s annual gala returned to New York City on Sunday, and hundreds of celebrities walked the red carpet to celebrate the Costume Institute’s “In America: A Lexicon of Fashion” Exhibit. Making a splash among entertainment’s wealthiest elite, New York Representative Alexandria Ocasio-Cortez donned an Aurora James gown with a loud message: “Tax the Rich.” Robinhood’s payment-for-order-flow business model has long been the focus of the platform’s biggest critics, but Robinhood chief legal officer Dan Gallagher defends the back-end payment system as benefit to retail investors. Gallagher, a former SEC commissioner, maps the market’s road to the Reddit Rebellion and the rise of retail investors. Plus, update your iPhones! In light of security concerns, Apple is recommending that users update all of their iOS devices.

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer.
0:08.0	Today on our podcast, The Road to the Reddit Rebellion and the Revenge of the retail traders.
0:14.1	How did we get here? Robin Hood's chief legal officer Dan Gallagher draws him out.
0:18.6	We wanted retail to come back into the markets.
0:21.1	Since the 70s, retail participation is declined, Robin Hood's
0:24.8	upending that almost by itself. And Representative Alexandria Ocasio Cortez making a
0:30.0	red carpet splash at the med gala. My dress said Tax the Rich too.
0:35.8	Those stories, plus update your phones.
0:38.6	You don't think the exploits are coming at you?
0:40.8	My Q rating is not as high as yours. It's Tuesday, September 14th, 2021.
0:46.5	Squark Pod begins right now.
0:48.8	Today we're starting our podcast on the red carpet.
0:55.0	Hundreds of celebrities convened on Fifth Avenue in New York City
1:00.0	for the fashion event of the year.
1:02.0	It's back, the gala YouTube stars musicians
1:05.1	actors and even politicians. This year's theme in America a lexicon of fashion.
1:12.1	One big style statement came from representative In America, a lexicon of fashion.
1:12.6	One big style statement came from Representative Alexandria Ocasio Cortez who wore a dress designed
1:18.3	by Aurora James of Brother Vellies that by now, just the next morning morning has nearly broken the internet.
1:23.8	If you haven't seen it yet it's a white off the shoulder gown understated in the around $35,000 apiece. Ocasio Cortez wasn't the only politician there
1:45.0	and not the only one making a statement.
	...

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