Robinhood's Tenev on Retail Investing and Future Trends

Financial Performance - Robinhood's third-quarter net income increased by 271% to $556 million [1] - Assets held at Robinhood reached $333.33 billion (one-third of a trillion) [9] - Prediction markets achieved $100 million in annualized revenue, with a run rate of $300 million [21] Business Growth & Strategy - October showed continued strength, with record net deposits and trading revenues [4] - Robinhood is experiencing sustained engagement driven by the "Robinhood Flywheel," including more customers, deeper engagement, and increased trading volumes [5] - Robinhood's market share is growing across all assets [8] - Robinhood aims to become a 24/7 platform by expanding beyond US equities to include 24-hour markets, crypto, and prediction markets [12] - Robinhood's credit card has surpassed half a million cardholders with $8 billion in annualized spend, offering 3% cash back on all categories [15] - Robinhood has $25 billion in assets entrusted to them in retirement accounts [16] - Robinhood plans to expand into institutional and international markets, aiming for more than half of revenue to come from these sources within ten years [18]