20VC: Vlad Tenev on Robinhood's $85BN Resurgence | Tokenizing SpaceX & OpenAI | Building Nine Revenue Lines Over $100M | Why Crypto Will Be Robinhood's Biggest Revenue Line | Why Stablecoins Will Replace Banking Rails

Everyone likes tokenization in principle, but it's not really as attractive when it's being done to you. I think it's important for the tokenization mechanism to work without the opt-in of the company's. that are being tokenized. I do think it's a big problem that a retail investor can't get access to stripe shares. I've shared this viewpoint with uh Patrick and John, and you know, they they give me some variant of uh Oh well we're just uh a small Irish family company. Please don't tokenize my shares. This is 20 VC with me, Harry Stebbings, and I'm so excited for the show today. Robin Hood is one of the most incredible stories of Wall Street in the last 12 months. Check this out. They have nine lines of business that do more than 100 million in revenue. Net revenue is up 58% to nearly$3 billion. They had a$500 million. Hundred million dollar loss in 2023. In 2024, it was a$1.1 billion profit. Stocks up roughly 4x market caps at like$85 billion. billion eighteen it was the end like fifteen, twenty billion. It has been the most insane turnaround. Vlad is one of the great CEOs of our time, and I'm so thrilled to have him in the studio today.

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