John Collison interviews Vlad Tenev, the co-founder and CEO of Robinhood, discussing Tenev's background, including his upbringing in Bulgaria during hyperinflation and the family's move to the US. The conversation covers Robinhood's disruption of the brokerage industry through zero-commission trading and a mobile-first experience, the controversy around payment for order flow, and the company's expansion into new revenue streams like options trading, interest income, and subscriptions. Tenev shares insights into the GameStop saga, the role of retail investors in the market, and Robinhood's plans for tokenizing private companies and launching consumer banking services. They also explore the potential of prediction markets and Tenev's views on regulatory issues and the SEC, as well as Robinhood's approach to innovation, company culture, and the development of a mathematical superintelligence lab.
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