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Part 5: Robinhood CEO Vlad Tenev on Becoming a Billionaire in 2020
Part 1: Vlad Tenev Dropped Out of College & Launched 2 Stock Trading Companies Before Robinhood
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Robinhood CEO Vlad Tenev sits down with DJ Vlad to break down the chaos behind the 2021 GameStop short squeeze, from Roaring Kitty’s YouTube momentum to retail investor FOMO and Wall Street hedge funds caught in massive short positions. Tenev explains how nostalgia for GameStop, AMC, Hertz and other COVID-hit companies fueled a “people’s bailout,” while Ryan Cohen’s success with Chewy helped shape investor hopes for a turnaround.
As GameStop’s price exploded, Robinhood became the No. 1 app in the App Store, surpassing Instagram and TikTok, while its systems faced unprecedented trading volume. Tenev details the 5 a.m. call from Robinhood’s Florida operations team demanding billions in firm collateral under post-2008 financial regulations, forcing restrictions on certain stocks. He also addresses public anger, “GameStopped” backlash, and accusations involving Citadel, saying communication failures helped drive the controversy.
