Last week’s $HOOD numbers were disappointing. But I think I might be missing the bigger picture.

With 20M engaged customers, the real edge was never offering $DOGE.X on its platform, but the vast improvement in user experience to access the financial markets.

Investor Relations is an entire job function that has had no real innovation in decades.

$COIN solicits user feedback directly from shareholders through Robinhood, which will likely buy ads and other high margin financial products.