Vladimir Tenev

We were instead saying, if we make it easier to plug as many people as possible, you become an owner in Robinhood.

Yeah, I think the story of Robinhood was really consistent product improvements that led to compounding growth.

There were also these moments that were sort of like these seminal moments where we had huge increases in growth.

in a relatively short amount of time.

So, for example, I still remember the Snap IPO and Snap was very much sort of like a Gen Z, younger millennials company, and everyone was excited about it.

And at the time, that was our biggest day ever.

Right.

The when when when Snap went public and a lot of us don't remember it because it was so long ago.

And but

but yeah like that that was like a company of our generation going public for for the first time and then we had uh big elements like brexit uh the 2016 presidential election where we had spikes of growth we had covid obviously um which was probably the first time we had growth that we weren't prepared for i was gonna say coven was the first time i used robin hood

Yeah, I mean, that was just like three big waves converging to make it so that...

Yeah, so what happened with the retail brokerage industry is you have a bunch of these companies that basically-

were not prepared for Robin Hood's entry into the space.

And but at first, they sort of weren't taking us very seriously.

They're like, well, you know, our customers don't really like mobile trading.

They prefer to pay commissions.

I think if you if you read the reactions to, you know, the industry to Robin Hood in the early days, it was a lot of just like like how blocked this missile, right?

Yeah, I think very similar.

And then what happened was in 2019, they had to scramble and pretty much all of our competitors had realized within a period of a couple of weeks that they had to replicate our business model, which was crazy.

I'd never seen anything like that.