Vlad Tenev

About what happened with GameStop.

And I think that one went better.

Yeah.

Because that's the one where I shared the details, the $3 billion capital call, the NSCC, the DTCC, all the players and everything.

yeah but that happened on sunday and i think what happened really was the the whole thing was over by sunday because the market closed on friday and then there was the weekend and the story shifted yeah and i think people lost interest so what what actually ended up i think there are some people that blame robin hood for ending the whole gamestop thing

But I think the reality is it probably would have ended anyway.

And what really ended it was the weekend.

And these types of things, these like short squeezes, they're pretty episodic.

And usually if something like spikes up a lot, it doesn't end up at like a permanent plateau of high price throughout history.

A big spike up, usually followed by a big crash.

Yeah, I think certainly people criticize the fundamentals of it.

And I think we got some blame for both sides, right?

We got blamed from the GameStop traders, the retail army for doing the position closing only trades.

And then also from the people that weren't doing it,

that were like, oh, Robinhood facilitates this GameStop stuff and we don't like that.

So you could imagine we were sort of sandwiched by both sides.

And when I went to testify in front of Congress, it was like very, very stark.

And it was mostly from the people that didn't believe that the GameStop activity was healthy market activity.

And they were just asking us about, is your platform responsible for the whole thing to begin with?

Yeah, and I was like, well,