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Jason Warnick

12/19/24

@ Sequoia Capital

The decision to restrict trading on certain stocks, including GameStop and AMC, was painful for both the company and our customers, leading to a strong backlash and public outrage, as it sparked conspiracy theories that Robinhood was pressured by hedge funds.

Video

Robinhood ft. Vlad Tenev - Reinventing Finance for a New Generation

@ Sequoia Capital

Robinhood ft. Vlad Tenev - Reinventing Finance for a New Generation

12/19/24

Related Takeaways

Vlad Tenev

05/21/25

@ Jay Shetty Podcast

The GameStop incident thrust Robinhood into the public eye, requiring me to quickly learn how to represent the company and communicate effectively during a crisis.

Vlad Tenev

12/19/24

@ Sequoia Capital

The leadership team at Robinhood felt a deep sense of betrayal from customers during the controversy, which was a complicated narrative to articulate.

Vlad Tenev

12/19/24

@ Sequoia Capital

In 2022, Robinhood faced a significant downturn as trading activity declined sharply due to inflation fears, leading to nearly half of its users leaving the platform.

Vlad Tenev

12/19/24

@ Sequoia Capital

During the pandemic, Robinhood experienced explosive growth in trading volume, leading to significant infrastructure challenges, including a full day of trading outages.

Jason Warnick

12/19/24

@ Sequoia Capital

In early 2021, Robinhood faced a collateral call of $3.7 billion due to increased trading activity, which was unprecedented for the company.

Vlad Tenev

12/19/24

@ Sequoia Capital

The core of Robinhood's business was identified as active traders, who are more resilient and continue to trade even in downturns, which led to a strategic refocus on this customer base.

Vlad Tenev

12/19/24

@ Sequoia Capital

Navigating the negative press cycle and loss of trust from users was exhausting for Robinhood's leadership, but it led to a commitment to transparency and rebuilding trust.

Vlad Tenev

12/19/24

@ Sequoia Capital

Despite challenges, Robinhood has set new revenue records in 2024, demonstrating that the decisions made during the downturn were crucial for long-term success.

Micky Malka

12/19/24

@ Sequoia Capital

Young people felt disillusioned with the financial system after the global financial crisis, which created an opportunity for Robinhood to establish a brand that resonated with them.