Vladimir Tenev

You know, once your company is public, how much control should you have over the financial products that people are building around your stock?

Well, for his part, Robinhood CEO Vlad Tenev has a take on that.

He told CNBC, "...issuers should have control and do have control over the rights and obligations of the stock that they issue, but that doesn't mean they control everything about it." He went on to say, "...in particular, they don't control other companies issuing their own securities that reference those shares," which is basically Vlad saying, "...I hear you, but I don't care."

Yeah.

Only in the last year and a half have we seen Wall Street embrace blockchain, tokenized securities, stable coins, and the idea that you're rebuilding entire rails on crypto.

You know, Vlad Tenev has made that very unequivocal statement.

He thinks the entire financial system is going to be built on blockchain rails.

Larry Fink at BlackRock has said the same thing.

... uh, I think there is s- something important that you're saying, Martin, because I'm fully with you.

I also think like th- there's been so many podcasts this week from Vlad Tenev on, uh, on Moonshots.

We had the Alix views, uh, from, from Figure 3.

They're all saying, we're building specified model.

And so I couldn't be more excited.

And so many thanks to everybody on the team, to Michael, to Joe Gabbia, to Vlad Tenev, to Frank Bisignano, who runs all of this.

He runs IRS.

He runs Social Security.

It does play an important role, and while some people might assume that hedge funds kill a company by betting against it, it's usually the other way around, that a company is dying, so hedge funds look to make money as a result.

Now later on in the film, we're also introduced to the co-founders of Robinhood, the zero commission brokerage that a lot of retail investors use to buy stocks because it doesn't cost them any explicit fee to do so with vlad tenev one of the co-founders really coming across as another villain in the movie in an interview with a reporter he's really skirting around questions about how robin hood makes money with him namely trying to avoid explaining payment for order flow

also payment for order flow what's that we prefer the term a stock order routing

To quickly explain this, when a company like Robinhood gets a client order to say buy a stock, instead of sending it to an exchange to trade against another investor who's putting out a sell order, they can instead send it to an off-exchange market maker, which is someone who will then take the other side of that trade selling the stock in question.

And so I couldn't be more excited.

And so many thanks to everybody on the team, to Michael, to Joe Gabbia, to Vlad Tenev, to Frank Bisognano, who runs all of this.

He runs IRS.

He runs Social Security.

It was incredible.

So could you talk about the impact and the impact of compounding and how you're teaching the American public about that?

yeah we just did an event in texas with michael you know ted cruz many many ceos gwen shotwell was there vlad tenev was there in the state of texas they already are putting a financial literacy wrapper around this for 750 000 kids okay so imagine now if you're trying to teach somebody something and they don't own anything and they have no prospect of owning anything it's hard to teach them but now the teacher says get out your phone open up your trump account And let's talk about how you got that $200.

Let's talk about what it's invested in.

When finance, AI, and ownership collide, the old systems start to look fragile.

In this episode of Moonshots, Peter Diamandis sits down with Robinhood founder Vlad Tenev to unpack some massive topics, AI liability, OpenAI's misalignment disclosures, and the coming wave of tokenized finance.

And they kick things off with a sharp debate.

Should AI labs get liability exemptions? Vlad's take is fascinating.