One of my favorite things about investing in tech is being able to beta test technology before its released to the public. When I invested in Robinhood in 2014 I was able to beta test it and use my wall street training + technology passion to help give comments on functionality, UX/UI and overall value prop. I loved it! Free trading platform for people who traditionally have paid $15-500 per trade! Talk about disruption. Now they are worth billions, doing crypto, and Jay Z just invested.
Here is how they described their business to us back then when we invested: “Robinhood started with a simple idea: using technology, we can re-think the way brokerages operate. Robinhood cuts out the fat that makes other brokerages costly — legacy technology, hundreds of storefront locations, and paper-based accounting. As a result, Robinhood has radically reduced the costs associated with these transactions by not charging standard trade commissions or requiring minimum deposits for cash accounts. Over the last decade, technology has enabled building the most efficient businesses in history. Building an automated electronic brokerage from the ground up allows Robinhood to eliminate the costly touch points where other brokerages require human intervention or paper receipts. Rather than relying on primetime advertisements and costly brick-and-mortar storefronts, Robinhood maintains a lean bottom-line, allowing it to attract and retain customers far more cheaply. Robinhood is committed to providing the customer with a convenient, cost-efficient, and enjoyable trading experience.”