Toby Howell

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K-shaped economy is a word we mention all the time on this podcast.

Just look at the SF housing market to see it playing out in real time.

So I was reading Bloomberg's Matt Levine and his thoughts on this.

The trickle-down effects of agents getting involved with stock trading is that retail investing might become a lot more similar because maybe the agents start recommending a lot of the same stocks to retail buyers.

The most stereotypical retail buyer, Matt Levine says, is buying the dip.

So you go on to your agentic protocol.

You say, hey, every time this market dips more than 2%, buy.

That becomes something different.

that is reliable on a mass scale and then maybe hedge funds realize that hey, we're gonna get all this exit liquidity as soon as the market opens because all these agents are executing the same trades.

That's kind of the broader picture of if we go down this path.

The other counterpoint to that though is how popular is this actually going to be because again,

It's a little bit more complex than Robinhood is making it sound.

This is from Robinhood's own overview that says, you'll first need to connect a third-party AI agent and then follow the on-screen steps to connect it with your agentic account through the Robinhood trading model context protocol.

So maybe it's not as simple as they're making it seem and it won't lead to these large ripple effects, but it's fascinating to see which path this is going to take.

Is it going to be popular?

Is it going to be not?

And what does that mean for the market as a whole?

I figured out that I'm lazy because ETFs exist.

A lot of these things already are out there where if you wanted a semiconductor, buy all the most successful semiconductor stocks, someone has put together that ETF.