Anthony Pompliano

Interesting.

You guys have this like open developer ecosystem versus you guys have some closed components of the financial infrastructure that you've built.

How do you think about whether you kind of open it up or you keep it closed?

And is there some framework or decision?

And the reason I ask is, you mentioned earlier, the API allows for your like AI bot to go trade.

With the rise of AI, it seems like everyone wants just like, hey, just open it up for me, right?

Like I can do all kinds of crazy stuff, but there's some competitive components as to why you might not want to do that.

Is there any data internally that suggests that agents are becoming a material part of the usage of Robinhood?

I've seen a couple of companies say, hey, now more than 50% of our documentation is read by agents instead of people.

I don't assume that Robinhood's 50%, but is it like 1% or 2% or do you not know?

Do you feel like you guys are behind, just given no matter how many resources you have, it's like every day somebody is out releasing something?

And I'd say you could sit on X all day long.

And you could think you know everything.

And then you see something and you're like, oh my God, I'm going to learn about this thing now.

Well, he's got the AI math thing, right?

Somebody told me not to say this a long time ago, but I stopped paying attention to math when they started putting letters in the equation.

I thought it was supposed to just be numbers, right?

This guy's too smart for me.

AI, there's a big debate right now.

Is it going to replace financial advisors?