Vlad Tenev

Yeah, I think we've made some progress.

So now the institutions are knocking on our door asking when they can have some of these things.

24-7 access to markets, big one.

Yeah, exactly.

I mean, the same infrastructure that we're serving retail can also be amortized across institutional

You also have to navigate, well, what's happening with AI?

How is that going to change how we invest?

You know, about vibe coding, is there going to be vibe trading where, you know, you have your agents working autonomously on your behalf and finding opportunities?

Well, we certainly have seen API usage and people sort of like reverse engineering our APIs, posting them on GitHub.

And you can kind of like, at this point, get your claw to use your computer

And it's indistinguishable from a human.

So I'm sure we do.

I think it's still a fairly niche thing for a couple of reasons.

Number one, a lot of people just don't want to hand their keys off completely to these things that can make mistakes and be unpredictable.

You have to be really sophisticated to set these things up particularly safely.

And there's a lot of fear, right?

So there's definitely people trying it, like we're very, very early, but I think there's gotta be, there's gonna be a lot of product thinking to turn it from its sort of like grotesque state now into something that's useful for the mass market.

How important is privacy?

Privacy, I mean, I think in our space, there's just this assumption of privacy because financial products typically are single person experiences.

And actually when you...