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00:00FEEL A SENSE OF OWNERSHIP. FOR MORE I'M JOINED BY THE ROBINHOOD CHIEF PRODUCT OFFICER. THANK YOU FOR JOINING US. HOW MUCH DEMAND YOU THINK THERE WILL BE? > > THANK YOU FOR HAVING ME. IT'S CLEAR WHEN YOU THINK ABOUT ACCESS TO INVESTING, ONE OF THE BIG GAPS THAT WE SEE IS A YOU DON'T HAVE ACCESS TO THE COMPANIES YOU ARE IN. THIS LAUNCH, WHAT WE ARE DOING, BEING ABLE TO CONNECT, TALKING TO CEOS, FOLLOWING UP AND ENGAGING. ENGAGING ELON MUSK AT OUR OWN MANAGEMENT TEAM. BUT WE THINK IT DOES IS GIVE A CHANNEL FOR RETAIL INVESTORS TO EXPRESS THEIR IDEAS TO ASK QUESTIONS. IF YOU THINK ABOUT IT, THAT HAPPENS WITH INSTITUTIONAL SHAREHOLDERS WITH AN OPPORTUNITY FOR PARTICIPATION AND LONG-TERM OWNERSHIP FOR ALL INVESTORS. EMILY: COMPANIES THAT USE THIS TECHNOLOGY RANGE FROM ROBINHOOD TO TESLA. WHAT HAS BEEN THE REACTION FROM C THOSE LIKE ELON MUSK? > > IT'S BEEN FASCINATING. ON THE ONE HAND THIS IS A GREAT OPPORTUNITY FOR THEIR VOICES TO BE HEARD AND THE REACTION HAS BEEN EQUALLY POSITIVE BECAUSE THEY FIND THAT RETAIL INVESTORS ARE ASKING RUSSIAN AND IF YOU THINK ABOUT IT THESE ARE NOT JUST SYMBOLS. MYSELF INCLUDED, THESE ARE BRANDS THAT THEY BELIEVE IN. COMPANIES THAT THEY ARE PASSIONATE ABOUT. THINGS THEY CARE ABOUT LIKE BETWEEN ENERGY, ETC.. THE THINGS THEY ASK ARE A LOT AND EXPRESS A STRONG DESIRE FOR THE COMPANY TO DO WELL EMILY: THEY ARE GIVING USERS THE TOOLS ON THE INVESTMENTS TO MAKE. HOW DO YOU MAKE THOSE AND MAKE SURE THAT YOU ARE MAKING THE RIGHT? > > ROBINHOOD IS ALL ABOUT EXPANDING ACCESS TO INVESTING. WE STARTED OUT BY DOING THAT WITH FRACTIONAL OWNERSHIP. TALKING MORE ABOUT CUSTOMER SERVICE THROUGH CRYPTO, THIS RECOMMENDATION IS ANOTHER STEP. IT'S DESIGNED FOR FULL-TIME INVESTORS IN EDUCATION TO MAKE A STARTING CHOICE. THE MINIMUM IS $20. THE WAY THAT WE CAN DO THAT IS BASICALLY ANALYZE THE CUSTOMER. WE MATCHED IT TO THE DIVERSIFIED PORTFOLIOS THAT WE SAW AGAIN. MAKING SURE THAT PEOPLE CAN GET STARTED IN INVESTING. ONE THING I WANT TO SAY IS THAT THIS IS A PRODUCT THAT WE ARE SEEING AS DISPROPORTIONATELY USEFUL AND ENGAGING FOR CUSTOMERS WHO DON'T HAVE A SPECIFIC STOCK IN MIND. THEY ARE ALL TOLD TO START INVESTING AND THEY DON'T KNOW WHERE TO GET STARTED. THIS IS MEANT TO AID THE PROCESS. EMILY: ROBINHOOD HAS BEEN ACCUSED OF GAME A FIRING INVESTING, GLORIFYING GAMBLING IN INVESTING. DO YOU THINK YOU COULD BE MOVING INTO DANGEROUS TERRITORY? > > I THINK THERE IS A VAST CHASM BETWEEN GAME OF FIXATION AND WHAT WE DO, ACCESSIBLE DESIGN. WHAT DO I MEAN BY THAT? WHEN WE SAY ACCESSIBLE DESIGN, RUNNING INTO THE MAZE. IT'S THE PRIMARY COMPUTING DEVICE FOR MANY PEOPLE. SAYING LIKE HEY IF THE WEALTHY DO IT, IT'S INVESTING AND IF YOU START TO GET A LINE OF SIGHT INTO YOUR FINANCIAL FUTURE, IT'S GAMBLING. IT HAS TO BE INTUITIVE, THAT'S ACCESSIBLE DESIGN. WE ARE KEEN ON MAKING SURE THAT THE INFORMATION IS IN CONTEXT. WE HAVE BEEN WORKING ON THESE LIFE-SIZED EXPLAINERS. TO BE ABLE TO EXPLAIN IN CONTEXT OF THE ISSUE, THE MARKET CAP, THE CRYPTO COIN, ETC.. WE WANT TO DO MORE OF THEM. EMILY: CRYPTO WALLET JUST CAME OUT IN BETA. WHAT ACTIVITY ARE YOU SEEING GIVEN THAT WE SEEM TO BE IN THE MIDDLE OF A CRYPTO WINTER? > > VERY TIMELY, WE JUST ANNOUNCED THE BETA PROGRAM IS LIVE. THERE ARE CLOSE TO 2 MILLION PEOPLE ON THE WAITLIST AS WE SYSTEMATICALLY APPROACH THIS AND DEVELOP IT IN PUBLIC, AS I CALL IT, WORKING WITH CUSTOMERS IN THE SECOND THING IS WE ARE DOING IT IN A WAY THAT IS INTUITIVE AND SAFETY FIRST, MAKING SURE THAT WE HAVE ALL HEARD STORIES OF FOLKS WHO HAVE LOST THEIR COINS AND REALLY WANT TO MAKE SURE THAT SECURITY AND SAFETY IS IN PLACE. CRYPTO, I THINK AGAIN, IS ABOUT ACCESSING INVESTING WITH A WHOLE NEW SET OF CUSTOMERS AND PEOPLE COMING ON BOARD AND GETTING STARTED IN INVESTING WITH CRYPTO. WE WANT TO MAKE SURE THAT WE DO IT SAFELY. EMILY: TALKING ABOUT WHAT REALLY MATTERS, ARE YOU GOING TO LIST SHIBA INU OR NOT? > > I WAS CERTAIN YOU WERE GOING TO ASK. [LAUGHTER] REALLY APPRECIATE THE COMMUNITY, LOVE SEEING THE ENERGY AROUND ROBINHOOD. WE DON'T TAKE THAT FOR GRANTED. AT THE SAME TIME, I CANNOT TALK ABOUT TOKEN LISTINGS. THE THING I WILL ASSURE FOLKS IS THAT, AGAIN, WE ARE SYSTEMATICALLY PUTTING THINGS IN PLACE TO BE ABLE TO ENABLE GREAT CRYPTO PRODUCTS AS WE ARE THE BEST AND MOST INEXPENSIVE WAY THAT YOU CAN GET INTO THIS NEW AND EMERGING ECONOMY. CRYPTO WALLET, YOU JUST HEARD ME TALK ABOUT IT. YOU WILL SEE IT CONTINUE TO PLAY IN THE SPACE BUT WE WON'T BE PLAYING CRYPTO BINGO. EMILY: WE ARE COMING UP ON THE ONE-YEAR ANNIVERSARY OF THE SO-CALLED RETAIL REVOLT. I'M CURIOUS HOW YOU REFLECT ON THAT ONE YEAR LATER AS YOU TRY TO MAKE SURE THAT ROBINHOOD NEVER FINDS HIMSELF IN A PLACE LIKE THAT AGAIN. > > ONE THING SPECIFIC TO ROBINHOOD, OF COURSE, IT MADE US STRONGER. WE HAD THAT MAJOR CRYPTO PLATFORM. IT JUST MADE THE COMPANY A LOT MORE ROBUST. THE BROADER POINT THAT I SEE IS THAT THE RETAIL ENERGY, THERE IS A LOT OF APPETITE AND ENERGY FOR INVESTORS TO ADD THEIR VOICES AND IN TERMS OF CHANNELING THAT AND CONNECTING RETAIL INVESTORS DIRECTLY TO THE COMPANIES THAT THEY INVEST IN, IT STARTS AT THE BEGINNING OF RETAIL

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Robinhood CPO on Including Crypto

Robinhood CP Aparna Chennapragada joins Emily Chang to announce a shareholder Q&A feature for investors after acquiring the shareholder communications platform Say Technologies back in August. She also talks about changes to Robinhood's app including education and customer service, and her thoughts on their crypto wallet. (Source: Bloomberg)

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