According to Vlad Thane, without restrictions, the service could be at all inaccessible to customers.
On February 1, Ilon Mask lived on the questions of listeners in the clubhouse audioothetieties - about Memachs, Cryptovaya, entrepreneur projects. During the conversation in the chat, Vlad Shane, the general director of RobinHood.
Mask spent a short interview with him. Shadne explained what happened to RobinHood during the "Reddit War with Wall Street" and why the service had to turn off the possibility of buying Gamestop, AMC and other "meamatic" shares on January 28.
According to his version, problems with RobinHood have arisen due to the urgent requirements of a huge deposit from the financial operator. Without restrictions and urgent attraction of $ 1 billion investment, the future of the service was threatened.
"There was an absurd week," the shades admitted.
"Pistol at the temple"
On Wednesday, January 27, RobinHood was "Unprecedented Load" on the system. The application has become the most popular on the App Store and "pretty close" approached the first place to download on Google Play.Paper GameStop and other "meamatic" shares have fucked up, purchases have grown in geometric progression.
And on Thursday at 3:30 am, Robinhood received a request for a deposit of $ 3 billion from the National Clearing Corporation on Securities (NSCC) - "an order of magnitude more than the usual NSCC deposit."
NSCC is the largest financial operator in the world through which securities transactions are held. He takes a credit risk if something goes wrong in the transaction, so the brokers contribute deposits for the suspension in NSCC.
The amount of the deposit is determined by the level of risky assets, their number just has grown at RobinHood after purchases REDDIT users. But the amount of the deposit exceeded all investments - $ 2 billion, which attracted the service since 2013, the shades notes.
The operating director of Robinhood and Tesnev phoned with NSCC, they managed to reduce the amount of the deposit to $ 1.4 billion. But it was still too big.
Therefore, the risk management team proposed to marry the "membranes" volatile shares that generated the main activity in RobinHood, and turn off their purchase.
At 5 am, NSCC again revised the amount of the deposit - it amounted to $ 700 million, which "immediately paid".
What will happen next with RobinHood
Shadne notes that the market was a complete confusion and chaos due to the "meamatic" shares. But he does not know the details about what happened with the financial system and who controls the NSCC.
The entrepreneur thinks that a request for a deposit "is justified": due to high activity in the market, the system was supposed to take into account additional risks.
According to him, other brokers (for example, Webull and E-Trade) are in the same situation and also limited their activities, although RobinHood flicked in the news.
"It sounds like they put a gun to the temple: either give money, or something else," said Mask.
The shadows, although the requirements of the NSCC were fair, but in the ideal situation, he would like more transparency in the calculations "to better plan a financial load.
After problemary Thursday, the situation is improved: Robinhood gradually opens access to the purchase of "meamatic" shares.
On the impact of the Citadel Foundation on RobinHood
Rumors that the Citadel Hedge Foundation or other funds forced RobinHood to prohibit transactions with shares - a lie, says shades.Mask noted that hedge funds can strongly affect the head of NSCC, since this is a sectoral consortium, and not a state regulator - but, according to the Thane, there is no reason to believe it.
"I just have no reason to believe that the matter is in this. I think your assumption is more like a conspiracy theory, "the founder of RobinHood said.
Cryptocurrency, II, memes and a little about life: what a mask said
- He is a supporter of Bitcoin: "Now Bitcoin is a good thing. I'm late for a party (Haip), but I support it. " According to the mask, Bitcoin will get wider recognition in the financial world, but not other cryptocurrencies.
- Dogecoin is a joke to laugh at the boom cryptocurrency. "But fate lives irony. The most ironic result - dogecoin becomes currency of the future. "
- Tesla plans to produce 20 million passenger cars annually.
- "The one who controls the memes, he controls the universe" - they influence the spirit of time. This is a "comprehensive form of communication", which, unlike a simple picture, "Ten deeper times". Memes are not only funny, but also insightful, assesses mask. And the entrepreneur has friends who raise him memes,
- Tesla is one of the strongest II teams in the world, approves mask.
- To "stay relevant" people must unite the mind with AI. For example, humanity has quick smartphones, and for them, interaction with a person is more like "Communication with Tree." A neurointerface will speed up the transmission and data processing.
- NEURALINK startup is one of the examples of how Mask sees the future. About a month later, Neuralink will publish a new video with a demonstration of work. For example, as a monkey mentally enables the video. Also, a monkey with Neuralink can play video games, said Mask.
- To the question why there are no new "Ilons of Masks", the entrepreneur replied: "If you need encouraging words - do not make startups."
- The flight on Mars will be difficult for the discoverers, but ultimately their efforts will be reduced to "save the light of civilization in the dark." Children of the entrepreneur do not like the idea of flight to Mars.
- Mask believes that there is no convincing evidence of the existence of aliens, but admits it.
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