Vlad Tenev

Graham Stephan × Jack Selby × Vlad Tenev

Robinhood reached $125B in AUC, up 50% year over year, as record trading, #1 retail options share, and prediction markets producing hundreds of millions in annual revenue extend its “financial home for life” strategy.Default ownership, private markets, and tokenization are the next growth avenues, but agentic trading remains early: 100,000+ accounts, agents sometimes refusing trades, and US stock tokens unavailable.

Nathan Labenz × Vlad Tenev × Tudor Achim

Harmonic’s Aristotle pairs frontier-model expressiveness with Lean certificates checked by a small kernel, while its 2025 IMO gold-medal-level performance supports reinforcement learning built around verifiable rewards.That architecture could shift mathematical peer review and safety-critical software toward computational certification, but confidence still depends on correctly specified theorems and kernel foundations as systems gain broader APIs and autonomy.

Kevin Roose × Casey Newton × Vlad Tenev

Grok 3 is competitive and cheaper at $40 a month, but its X-data access has not yet created a clear product or research moat. xAI’s rapid, billion-dollar Colossus build shows capital and infrastructure can buy frontier capacity, while Robinhood’s tokenization and prediction-market expansion faces unresolved regulation and speculation risks.Robinhood, valued at $52.2 billion at recording, is pursuing tokenized private assets and prediction markets, with disclosure tiers and CFTC scrutiny testing whether access expands beyond speculation.