How Robinhood’s CEO Became a Cult Hero

This episode of The Journal explores the resurgence of Robinhood under CEO Vlad Tenev, focusing on its shift towards catering to active, risk-taking traders. Once struggling after the GameStop saga and a shaky IPO, Robinhood refocused its strategy by offering high-risk financial products like zero-day options and prediction markets, even drawing criticism for blurring the lines between investing and gambling. Despite regulatory concerns, this approach has led to a significant increase in the company's stock value and Tenev's popularity among users, though critics worry about the potential consequences during market downturns. The episode also touches on the broader trend of individual investors gaining power in financial markets, with Robinhood at the forefront of providing access and capabilities to this growing group.