Vlad Tenev

And that was when Robinhood launched crypto during that second run up.

Yeah, that was the idea.

Launch a social network for traders while we're getting all this licensure going.

And then maybe we could parlay that into a big financial community that was also trading.

What happened was we tried all the growth tactics, all the tricks.

It wasn't a fantastic product, to be honest.

I think we were just kind of experimenting.

We never really figured out how to make it

truly great and give you a reason to try it.

And so we would struggle having 100 users, 200 users.

We thought, OK, why don't we just reset?

This is a new opportunity.

When we got our approvals, we thought, why don't we simplify things rather than having a social network where you can DM and you can share news and you can maybe layer trading in?

What's the essence of it?

The essence of it is get in as quick as possible, get out of the user's way, and just have a button that you can buy a stock.

Actually, one of the early design decisions that we made was,

every other broker that was out there kind of hid your money from you.

We didn't really know why that was the case, but you really had to like go into the sort of like in the basement of these sites to figure out how much money do I have?

How much am I up in the day?

So we thought,