Do you know what you're even talking about? Robinhood's biggest client by far is Citadel, a hedge fund operated owned by Ken Griffin, a staunch conservative and generous donor to Republican PACS.
Tenev was born in Bulgaria, and his parents migrated to the U.S. when he was five. His parents both worked for the World Bank, and he grew up in Washington, D.C. and attended Thomas Jefferson High School for Science and Technology.
He earned a degree in mathematics from Stanford University, where he met Baiju Bhatt his co-founder. He studied for a mathematics PhD at UCLA, but dropped out to work with Bhatt. They first started a high frequency trading company called Celeris. Companies such as Celeris have been basically jumping in front of orders (of mom and pop investors and others) to make a profit.
Robinhood is no different at this point. They offer free trading, but that’s a scam to get paid by Citadel for order flow so they can use the technology these guys first built to front run trades via HFT. Order execution and best execution are two different things. I can place a trade on 20 different ECNs at maybe 10 different prices. All Robinhood does is look across all these ECNs and arbitrages a few pennies off each trade buying and selling whatever you bought or sold at the same time via Citadel.
Griffith is what’s called a “bundler.” He bundles money and people together for causes, elections, etc. He was in fact a bundler for Obama for America. I believe the number is around 14 million.
As for Robinhood look at their series round funding and who funded it. Look at the board at Citadel and their relationships, etc.
Do you know what you're even talking about? Robinhood's biggest client by far is Citadel, a hedge fund operated owned by Ken Griffin, a staunch conservative and generous donor to Republican PACS.
Tenev was born in Bulgaria, and his parents migrated to the U.S. when he was five. His parents both worked for the World Bank, and he grew up in Washington, D.C. and attended Thomas Jefferson High School for Science and Technology.
He earned a degree in mathematics from Stanford University, where he met Baiju Bhatt his co-founder. He studied for a mathematics PhD at UCLA, but dropped out to work with Bhatt. They first started a high frequency trading company called Celeris. Companies such as Celeris have been basically jumping in front of orders (of mom and pop investors and others) to make a profit.
Robinhood is no different at this point. They offer free trading, but that’s a scam to get paid by Citadel for order flow so they can use the technology these guys first built to front run trades via HFT. Order execution and best execution are two different things. I can place a trade on 20 different ECNs at maybe 10 different prices. All Robinhood does is look across all these ECNs and arbitrages a few pennies off each trade buying and selling whatever you bought or sold at the same time via Citadel.
Griffith is what’s called a “bundler.” He bundles money and people together for causes, elections, etc. He was in fact a bundler for Obama for America. I believe the number is around 14 million.
As for Robinhood look at their series round funding and who funded it. Look at the board at Citadel and their relationships, etc.