Vlad Tenev

Tell me about the users.

How old are people on Robinhood?

It's largely millennials and Gen Z.

So when we first got started, it was kind of like a millennial company, right?

One of my big focuses is to make sure we're not just millennial company, because that's where you kind of get stuck with customers that eventually like age out, right?

You've got Schwab, quintessential baby boomer company.

You've got E-Trade, which is kind of Gen X. So one of the big things we think about is how do we always stay relevant to the next generation?

So we've been spending a lot of time on Gen Z. We're already thinking about Gen Alpha and Gen Beta.

How can we make sure we're your first brokerage account regardless of how old you are and not get stuck in the generational rut as our predecessors.

But yeah, right now, customers are 35 on average, 34 on median, so a little bit younger than me.

It used to track pretty closely with my age, but we have been somewhat successful getting younger and younger customers.

So my age is outpacing the average customer age now.

There's staking as well.

What is staking?

There's two ways to look at it.

From a user standpoint, it's a way to get passive yield for holding.

Much like I put cash in and I get my yield, if I have Ethereum or Solana, although not yet in the state of California, you can just get yield for holding without trading.

And the way it works is you're basically contributing your coins to support the overall network.

So you get paid by the network for helping maintain it and processing the transactions.

So that's why it's called staking.