Interviewer: Asks extremely basic question Robinhood CEO: Well... our customers do invest money Interviewer: What is your company called Robinhood CEO: Im not sure about that answer right now
Honestly if Vlad would’ve come out and been honest with this whole situation I would’ve been upset but understanding and probably even keep using Robinhood. But he keeps lying and coming off as a real piece of crap. Screw him and screw Robinhood.
😎😎😎😎😎 Something does not smell right ... My spider sense is telling me that Robinhood and Vlad are been attacked, is a total set-up . Since they drop their margin at 2.5% from 5% ... they are trying to roast Robinhood . The message is clear ... Robinhood is a threat to the elites , so they are trying to hurt them . They waited for their new guy to walk into the Oval Office to pull this tactic, is more clear than water 💦. We had all time high stock market 📈 for 4 years and this was never an issue . When Chinese companies were call out for irregularities and almost delisted nobody made a scandal about it . NIO stock was trading with huge volumes and nobody cry foul . Is very fishy ...
@@bananaman22 : Many brokers not just Robinhood ... he is telling the truth but people want more from the story . Too much Netflix and movies have side effects on people brains 🧠... 😂😂😂
him telling the direct truth is the same as perjury... he has to speak in a very delicate way... ask any attorney, talking under oath is not the same as talking to your friend. You say something out of line, they'll find a contradiction, and therefore lying under oath and that is minimum of 2 years of federal prison. It's not simple just to answer a question. like "Is 2 the square root of 4?" Try to answer this with yes or no. If you say yes, then you are a liar and you just perjured yourself, because -2 is also the square root of 4. If you say no, you just perjured yourself, because 2 is the square root of 4. Vlad constantly has to say that it's a bit more complicated than just yes or no. How would you answer the example question above? YES OR NO? 1 word answer only.
OMG, Tenev is literally saying that had customers not opened accounts with him they would have just spent the money in presumably a wasteful way. That of course is in addition to not answering a reasonable Q which was whether the overall RH investors would have been better off just buying and S+P fund. Gonzalez is absolutely right that RH is playing a game of amateur hour. Normally, I would say that order flow thing is way overblown. All firms do that but the problem was that RH did not meet disclosure obligations. But the point made is that by adding options trading (likely unsuitable for most RH clients) it dramatically increased revenue b.c of overflow.
They should have asked about the millions if not billions of dollars lost from option calls that didn't go into the money on Friday, from RH blocking the buy trading. No one has even brought this up.
This is a double edged sword. Yes Robinhood is shady for manipulating the share prices. But every time they say retail investors need protection, that really means they need less access to the market.
You should've included Roaring Kittys statement. But yes, some of the congressman didn't have a clue about how the financial markets worked. But the ones you included in this video along with AOC had some of the best questions and put him on the spot. I believe there was another one where Mr.Tenev dodged the question so many times the speaker had to yell at him and said "to run for congress if he wants to waste time". I can see the huge issue in their business model prior to this situation more now, although they were able to meet capital requirements, there should've been a stress test for their company for worst case scenario. Because if those positions did get liquidated, it would've costed people millions to BILLIONS.
If the DTCC was the catalyst of this entire crisis with an on-the-spot Collateral Call, why is nobody from Apex Clearing or DTCC present at the hearing?
Because it's all just political theater. The politicians are either too ignorant to understand the situation or don't really care. I personally believe that it's both.
@@justinhill2378 whether they care or not, SOMEBODY needs to slap them in the face with this fact while it can still mean a difference. It would be like calling customer service in the middle of the testimony. Such a brutal roast.
The real problem nobody is addressing is people are buying stocks but not becoming the owner of them! The broker remains the owner so they can rent your asset out to shorts who sell your asset to trick you into selling it at a lower price. They are renting and selling assets they did not buy!
I watched all 5 hours of this live and I remember each one of these guys for their awesome questions. Unfortunately, like you stated in the video, there were quite a few stupid and irrelevant questions. My fav had to be Jim Hines with Anthony Gonzalez at a close second. I was literally cheering them on from my couch.
This is really important info sharing. Thanks. He is REALLY good at time wasting and not answering questions ! Hopefully that was obvious to all in congress.
Seeing everyone gang up on Robinhood is cathartic, but they're targeting the wrong folks. The likely suspects (the DTCC and the SEC) were nowhere to be seen in this hearing. I would like to hear more questions about how the DTCC determines capital requirements and why the SEC didn't step in to halt trading on $GME themselves.
If I've learned nothing else, I've learned I don't like Robinhood's CEO Vlad Tenev. He's a deceptive, sidestepping, slime, and I certainly wouldn't invest in Robinhood when it IPO's or merges with a SPAC with him at the helm. In hindsight closing my account was the right decision.
Would have been nice to ask what they would have done if their retail customers started losing a lot of money on a bad investment like the hedgies did shorting 140% of gamestop. Of course, we already know the answer based on all the people who lost money on gamestop, but it would be nice to have it on the record.
- Is your company called Robinhood? - Ehh well probably yes I don't have that info right now. - Last time I checked your website was writing Robinhood. - Eh well congressman if it wrote Robinhood then yes that's the name.
This is like watching Ted "Theodore" Logan trying and failing to comprehend basic mathematics in order to pass a high school economics class. Only without the charisma.
The stocks are designed in way to benefit the richest and step on the little investors! That exactly what happened with GME and AMC, when the little investors making money they shutdown trading in those stocks! They made billions because of COVID no issues, but lost few millions to investors and attacked with full force!
Basically all these brokers are SP bookmakers. If a bookmaker has to close his books on a certain outcome, Then they have to close, to both sides of betting. If you want to bookmaker you need to be covered sufficiently to recieve a licence to run your business. If you can't cover your bets, you can't run your book and loose your licence. A bookmaker can not interfere with the outcome of an event. As far as we all should be concerned...... All brokers and liquidity providers who choked the 13 stocks effected should have their licences revolked. The only entity that should be able to restrict trading on a stock is the exchange.
I don’t know why I’m always amazed how the billionaire tech heads know so damn little... sounds like it’s time for a full AND TRANSPARENT audit.. just like they would treat a normal citizen... ENOUGH WAFFLING AND EVADING
"About 2.1 million GameStop shares failed-to-deliver on Jan. 26 before falling to 138,179 on Jan. 29, the day AFTER Robinhood and other brokerages began restricting trading in so-called meme stocks." - Bloomberg.
I don't know who was worse. Vlad or the entire House of Representatives. I feel like Himes was trying to ask how much margin Robinhood users had to compare to their returns, but failed.
I wished that one of the congressman would have asked about ladder attacks. Although it would have been more teleprompter reading and bullshit answers.
Why do I feel like one was telling robinhood for putting on too much regulations that stopped their clients from trading, and then another was saying they have too little regulations and let their clients take too much risk and ended with the kid killing himself..... what the....
Was hard to watch, best questions went unanswered, these guys were so nervous, was a total show just for the little guy, we are not that stupid, The rich controls and OWNS EVERYTHING we are just suckers, or pawns in their game of easy money while we work hard for it, have a chance to capitalize, and get absolutely BLOCKED AND CALLED DUMB MONEY, THEY SAY THEY WERE PROTECTING US, BUT THEY WERE REALLY PROTECTING THEIR OWN EASY PAYCHECKS. This show was put on to show us that they are looking out for us, but in reality nothing was accomplished. It was sloppy, 5 mins cut off every decent question. We are not amused, or happy with this outcome. WE ARE NOT DUMB, WE ARE STRONG IN NUMBERS, WE WILL WIN AGAIN. PLTR 🚀🚀
Ok, let me ask this question, robinhood was asked by the clearing house to raise more capital before they will allow further trade, so why exactly are robinhood being grilled, instead of the clearing house
Other brokerage firms also stopped buying of GameStop and other meme stocks - I'm having trouble understanding as to why RobinHood got targeted in all of this. I understand they were the first ones to restrict the trading, but how come they are getting so much hate and no other brokerage?
The only entity that should be able to restrict trading on a stock is the exchange. Everyone should close their Robinhood account. See how they like a squeeze......
The first one didn't really expose much as I don't agree. Most robinhood users would NOT have invested in an S&P500 index instead lmao that money would have been spent on yeezys and onlyfans
Is this a trial or just an interview? Cause if its a trial vlad committed perjury! Smh Of course stopping buying of gme and other stock caused the value to do go down! Its common sense! And for him to claim otherwise HES A LIAR!
Here educate yourself During committee hearings, witnesses typically take an oath at the discretion of the committee chair. An oath-similar to the one used in a court of law-is typically required during confirmation and investigative hearings.
Look if you don't see your savings account has a 7% interest rate and your car payment has a 14% rate on it but they use your money on other loans and give the middle class nothing for it if you want to win don't play there game just hold onto your money and pay cash for things
Yeah bro if I could see ALL your order flow , I would win 100% of the time , and if somehow you beat me , I will take the buy button away so it can only return to my favor.
Damn a 20 year old committed suicide over dis bs 😦RIP Alex, at such a young age he had the potential to eventually master the trading skill. I used to love Robinhood thinking it was for the people but now I don't trust them.
I believe each person gets a certain amount of time to ask questions. If they ask a question and he ducks dodges and tells fairy tales it waste time before it’s someone else’s time.
I'll tell you whats supposed to happen when you hit your liquidation price....you blow up that account and are back to step one ...happens to people all day everyday... Or you could add more money to your margin account , but now you have more to lose lol
... this gamestop event never would've happen if robinhood didn't bring normies into investing.. i wish we didn't have to make vlad go to jail for this.. i think he had good intentions because he was protecting everyone's portfolios.. face it... retail traders are a good thing.
If you take a $20k loan to invest in a meme stock and you don't have the money to cover the losses you got issues. Financial system is not one of them tho.
Lmao Vlad was like thank you congressmen once upon a time....
Congressmen: were running out of time so answer yes or no
"Good Bot"
I love how the sound near the end of that exchange sounds like they're heading to the stars.
You are crushing it with these videos. Thank you for all your hard work covering this crazy saga.
More to come!
@@wallstreetmillennial Good Job.
Interviewer: Asks extremely basic question
Robinhood CEO: Well... our customers do invest money
Interviewer: What is your company called
Robinhood CEO: Im not sure about that answer right now
😂 underrated
I watched the whole thing
Him, Yellen, Morgan ..... :D I wonder how can somebody possibly not see the bodylanguege etc.... moving on, got only one nervs
Honestly if Vlad would’ve come out and been honest with this whole situation I would’ve been upset but understanding and probably even keep using Robinhood. But he keeps lying and coming off as a real piece of crap. Screw him and screw Robinhood.
😎😎😎😎😎
Something does not smell right ...
My spider sense is telling me that Robinhood and Vlad are been attacked, is a total set-up .
Since they drop their margin at 2.5% from 5% ... they are trying to roast Robinhood .
The message is clear ... Robinhood is a threat to the elites , so they are trying to hurt them .
They waited for their new guy to walk into the Oval Office to pull this tactic, is more clear than water 💦.
We had all time high stock market 📈 for 4 years and this was never an issue .
When Chinese companies were call out for irregularities and almost delisted nobody made a scandal about it .
NIO stock was trading with huge volumes and nobody cry foul .
Is very fishy ...
if he told the truth he would be in jail
@@bananaman22 :
Many brokers not just Robinhood ... he is telling the truth but people want more from the story .
Too much Netflix and movies have side effects on people brains 🧠... 😂😂😂
There is no where else for you to go besides Robinhood so makes sense they treat you users like crap, rh got you by the balls
him telling the direct truth is the same as perjury... he has to speak in a very delicate way... ask any attorney, talking under oath is not the same as talking to your friend. You say something out of line, they'll find a contradiction, and therefore lying under oath and that is minimum of 2 years of federal prison.
It's not simple just to answer a question. like "Is 2 the square root of 4?" Try to answer this with yes or no. If you say yes, then you are a liar and you just perjured yourself, because -2 is also the square root of 4. If you say no, you just perjured yourself, because 2 is the square root of 4. Vlad constantly has to say that it's a bit more complicated than just yes or no.
How would you answer the example question above?
YES OR NO?
1 word answer only.
He was trying so hard not to say "liquidity problem" but one of the congress person actually made him say it indirectly, as insufficient capital.
Everytime Vlad answers Anthony his eyes shift to the left to look for approval of his overlords standing off camera coaching him.
I watched a few hours of the testimony but stopped when I got SOOOO frustrated with Vlad's non-answers, great recap video!
OMG, Tenev is literally saying that had customers not opened accounts with him they would have just spent the money in presumably a wasteful way. That of course is in addition to not answering a reasonable Q which was whether the overall RH investors would have been better off just buying and S+P fund. Gonzalez is absolutely right that RH is playing a game of amateur hour. Normally, I would say that order flow thing is way overblown. All firms do that but the problem was that RH did not meet disclosure obligations. But the point made is that by adding options trading (likely unsuitable for most RH clients) it dramatically increased revenue b.c of overflow.
They should have asked about the millions if not billions of dollars lost from option calls that didn't go into the money on Friday, from RH blocking the buy trading. No one has even brought this up.
really good point
This is the 35 billion dollar question with no known rate of return.
This is a double edged sword. Yes Robinhood is shady for manipulating the share prices. But every time they say retail investors need protection, that really means they need less access to the market.
Agreed, no government agent actually cares about protecting you.
You should've included Roaring Kittys statement. But yes, some of the congressman didn't have a clue about how the financial markets worked. But the ones you included in this video along with AOC had some of the best questions and put him on the spot. I believe there was another one where Mr.Tenev dodged the question so many times the speaker had to yell at him and said "to run for congress if he wants to waste time". I can see the huge issue in their business model prior to this situation more now, although they were able to meet capital requirements, there should've been a stress test for their company for worst case scenario. Because if those positions did get liquidated, it would've costed people millions to BILLIONS.
That was Brad Sherman talking to Citadel CEO Kenneth Griffin.
first guy did the best job
If the DTCC was the catalyst of this entire crisis with an on-the-spot Collateral Call, why is nobody from Apex Clearing or DTCC present at the hearing?
Because it's all just political theater. The politicians are either too ignorant to understand the situation or don't really care. I personally believe that it's both.
@@justinhill2378 whether they care or not, SOMEBODY needs to slap them in the face with this fact while it can still mean a difference.
It would be like calling customer service in the middle of the testimony. Such a brutal roast.
@@cirious1703 I agree. It should happen. But I don't expect it.
Jesus its fn annoying that he skips around the questions so much
The real problem nobody is addressing is people are buying stocks but not becoming the owner of them! The broker remains the owner so they can rent your asset out to shorts who sell your asset to trick you into selling it at a lower price. They are renting and selling assets they did not buy!
Exactly what I was looking for. Thanks!
I watched all 5 hours of this live and I remember each one of these guys for their awesome questions. Unfortunately, like you stated in the video, there were quite a few stupid and irrelevant questions. My fav had to be Jim Hines with Anthony Gonzalez at a close second. I was literally cheering them on from my couch.
I was yelling : GET EM, GO ON, LETS GO
This is really important info sharing. Thanks. He is REALLY good at time wasting and not answering questions ! Hopefully that was obvious to all in congress.
Holy shit I forgot Anthony Gonzalez was in Congress
Thanks for making these
You Do a great job! Thank You!
Seeing everyone gang up on Robinhood is cathartic, but they're targeting the wrong folks. The likely suspects (the DTCC and the SEC) were nowhere to be seen in this hearing. I would like to hear more questions about how the DTCC determines capital requirements and why the SEC didn't step in to halt trading on $GME themselves.
If I've learned nothing else, I've learned I don't like Robinhood's CEO Vlad Tenev. He's a deceptive, sidestepping, slime, and I certainly wouldn't invest in Robinhood when it IPO's or merges with a SPAC with him at the helm. In hindsight closing my account was the right decision.
What about the guy with the smoke detector going off in the background? I think he made the best point out of all of them
IF HE'S STILL IN, IM STILL IN
Thanks for the vids
The biggest waste of time in those hearings is congressmen saying "reclaiming my time"
Wish they would have asked about Robinhood loaning out their customers shares to enable the massive short interest
They all eviscerated him. I would not want to be that guy on that day, or now.
People are PISSED at him for pulling this crap.
Would have been nice to ask what they would have done if their retail customers started losing a lot of money on a bad investment like the hedgies did shorting 140% of gamestop. Of course, we already know the answer based on all the people who lost money on gamestop, but it would be nice to have it on the record.
- Is your company called Robinhood?
- Ehh well probably yes I don't have that info right now.
- Last time I checked your website was writing Robinhood.
- Eh well congressman if it wrote Robinhood then yes that's the name.
congressman: did you have the money?
vlad: well, let me tell you a story...
This is like watching Ted "Theodore" Logan trying and failing to comprehend basic mathematics in order to pass a high school economics class. Only without the charisma.
The last interviewer asked the relevant and basic question of blocking buy order .
The stocks are designed in way to benefit the richest and step on the little investors! That exactly what happened with GME and AMC, when the little investors making money they shutdown trading in those stocks! They made billions because of COVID no issues, but lost few millions to investors and attacked with full force!
Tell that guy to get a hair cut
Were the CEOs of other online brokers questioned as to why they stopped selling GME stock as well?
Can we just all agree about the fact that Tenev got shredded my boy Jim lmao
Basically all these brokers are SP bookmakers.
If a bookmaker has to close his books on a certain outcome,
Then they have to close, to both sides of betting.
If you want to bookmaker you need to be covered sufficiently to recieve a licence to run your business.
If you can't cover your bets, you can't run your book and loose your licence.
A bookmaker can not interfere with the outcome of an event.
As far as we all should be concerned......
All brokers and liquidity providers who choked the 13 stocks effected should have their licences revolked.
The only entity that should be able to restrict trading on a stock is the exchange.
How many shares of $GME were sold on the day that buying was restricted in the Robinhood app?
Feb 18, not jan 18
I don’t know why I’m always amazed how the billionaire tech heads know so damn little...
sounds like it’s time for a full AND TRANSPARENT audit.. just like they would treat a normal citizen...
ENOUGH WAFFLING AND EVADING
"About 2.1 million GameStop shares failed-to-deliver on Jan. 26 before falling to 138,179 on Jan. 29, the day AFTER Robinhood and other brokerages began restricting trading in so-called meme stocks." - Bloomberg.
Rep. Jim Himes summarized: UHHHHHHH
This was both painful and pleasurable to watch, lol.
they all did great, the first one was best. ask about the doge wallet
I don't know who was worse. Vlad or the entire House of Representatives. I feel like Himes was trying to ask how much margin Robinhood users had to compare to their returns, but failed.
I wished that one of the congressman would have asked about ladder attacks. Although it would have been more teleprompter reading and bullshit answers.
Why do I feel like one was telling robinhood for putting on too much regulations that stopped their clients from trading, and then another was saying they have too little regulations and let their clients take too much risk and ended with the kid killing himself..... what the....
Was hard to watch, best questions went unanswered, these guys were so nervous, was a total show just for the little guy, we are not that stupid, The rich controls and OWNS EVERYTHING we are just suckers, or pawns in their game of easy money while we work hard for it, have a chance to capitalize, and get absolutely BLOCKED AND CALLED DUMB MONEY, THEY SAY THEY WERE PROTECTING US, BUT THEY WERE REALLY PROTECTING THEIR OWN EASY PAYCHECKS. This show was put on to show us that they are looking out for us, but in reality nothing was accomplished. It was sloppy, 5 mins cut off every decent question. We are not amused, or happy with this outcome. WE ARE NOT DUMB, WE ARE STRONG IN NUMBERS, WE WILL WIN AGAIN. PLTR 🚀🚀
I couldn't talk like Vlad. I would annoy myself so much I would punch myself.
Ok, let me ask this question, robinhood was asked by the clearing house to raise more capital before they will allow further trade, so why exactly are robinhood being grilled, instead of the clearing house
so they cant use our money to cover but if they dont cover they can take from the investor? iam not sure if iam understanding this
what would happen if RH couldn't make the margin call? will RH be liquidated or only GME?
Every robinhood customer portfolio would be liquidated if they didn't make margin.
FFS, just tell him you don't know the IRR and move on...
Other brokerage firms also stopped buying of GameStop and other meme stocks - I'm having trouble understanding as to why RobinHood got targeted in all of this. I understand they were the first ones to restrict the trading, but how come they are getting so much hate and no other brokerage?
The suicide is completely irrelevant.
The only entity that should be able to restrict trading on a stock is the exchange.
Everyone should close their Robinhood account.
See how they like a squeeze......
The first one didn't really expose much as I don't agree. Most robinhood users would NOT have invested in an S&P500 index instead lmao that money would have been spent on yeezys and onlyfans
Can you show the entire video? I think that's very important so we can get the entire story.
th-cam.com/video/shrkw-dV9S0/w-d-xo.html
Vlad should be a politician. He can dodge an answer with the best of them.
Was there illegal activity?
Maxine looks lost....
Is this a trial or just an interview?
Cause if its a trial vlad committed perjury! Smh
Of course stopping buying of gme and other stock caused the value to do go down! Its common sense! And for him to claim otherwise HES A LIAR!
Bro, nothing happens
Here educate yourself During committee hearings, witnesses typically take an oath at the discretion of the committee chair. An oath-similar to the one used in a court of law-is typically required during confirmation and investigative hearings.
I think they all exposed his ass. I'm glad I closed my robin hood account.
Vote Libertarian and we won’t have this problem😂
is the fbi working with the sec on this ? is this anywhere close to being a criminal hearing , and what is the format of the process happening now?
Leave Britney alone!
whattt you missed some good ones these arent the only highlights
Look if you don't see your savings account has a 7% interest rate and your car payment has a 14% rate on it but they use your money on other loans and give the middle class nothing for it if you want to win don't play there game just hold onto your money and pay cash for things
Yeah bro if I could see ALL your order flow , I would win 100% of the time , and if somehow you beat me , I will take the buy button away so it can only return to my favor.
Damn a 20 year old committed suicide over dis bs 😦RIP Alex, at such a young age he had the potential to eventually master the trading skill. I used to love Robinhood thinking it was for the people but now I don't trust them.
Gosh Vlad...
He isn’t me mentioned in the video but Michael San Nicolas (Guam Rep) destroyed Vlad
You left out a few other good ones. The best one in my opinion was from Rep Micheal San Nicolas.
who asked the dumbest questions? top 5, just a video idea im putting out there
Boycott Robinhood
man i hate this young vlad poutine
I dont have a lot of time..... why congress using this arguement it seems like they are being paid to not let him speak....
I believe each person gets a certain amount of time to ask questions. If they ask a question and he ducks dodges and tells fairy tales it waste time before it’s someone else’s time.
They all got 5 minutes to ask questions and he would spend as much time to tell irrelevant shit instead of just answering yes or no as asked
I'll tell you whats supposed to happen when you hit your liquidation price....you blow up that account and are back to step one ...happens to people all day everyday...
Or you could add more money to your margin account , but now you have more to lose lol
... this gamestop event never would've happen if robinhood didn't bring normies into investing.. i wish we didn't have to make vlad go to jail for this.. i think he had good intentions because he was protecting everyone's portfolios.. face it... retail traders are a good thing.
It would have happened, there have been other squeezes and they'll be more
Maybe next time dont lie about it.
If you take a $20k loan to invest in a meme stock and you don't have the money to cover the losses you got issues. Financial system is not one of them tho.
This did not happen, nobody received 20k loans....Shut up, wtf u talking about?
first!
k
Vlad got butchered
3rd 😂
Second