In the meantime, if I can be of use or you want to catch up DMs are open.
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Siddharth Batra
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Bye @RobinhoodApp and thank you @vladtenev for the opportunity and the operating masterclass.
The only reason to leave this rocketship is to start my own company – more on that soon.
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@WouterTeunissen Do you’ve it on YouTube? I couldn’t find it 🙏
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You are going to want to stop scrolling Twitter.
Introducing "The Biography" Podcast.
I go DEEP with the worlds greatest/most fascinating founders to tell their life story with an insane level of depth and research.
Season 1 is releasing Thursday -- link to the pod below!
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o-3 mini can pass >90% of OpenAI's research engineer interview questions, but replicate 0% of their research engineer's code contributions
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Great example of companies posting updates as 𝕏 Articles
Bethesda Game Studios@BethesdaStudios
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@chefjeffsf Be patient and load slowly. Your back simply can’t handle the load.
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@sreecharan93 @RobinhoodApp it’s 36gms of beautiful solid gold 👀
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@sidbatra @RobinhoodApp This the regular version or the 18 karat gold 😅?
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Siddharth Batra retweetledi
America innovates, China replicates, Europe regulates.
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I have both the Amex Platinum & the @x1creditcard card & I have to say the X1 is so much better (reasons detailed below). The only reason I use the Amex card is because of the benefits (fyi the X1 card doesn't have an annual fee). I get the Amex Plat comp'd so it's free to me.
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@aditishekar @x1creditcard Thanks for the info - signing up for X1 via your link. I absolutely hate that the #1 thing that they advertise is the weight of the card
How do you get the amex plat compd?
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@RobinhoodApp Also I don't know the team and have no agenda to promote them other than I love the product! But if you wanna try it for yourself, here's my friend link:
x1.co/r/o3hD7z7/?md=…
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9/10 Let's add this back up:
+ $60M - Platform Value
+ $08M - Partnerships Value
+ $22M - People Value
+ $18M - Performance Value (w/ $100M upside!)
= $108M+
Robinhood got X1 for $95M, so technically a ~13% discount on a very conservative valuation build-up.
Total no-brainer.
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1/10 It's like every fintech nerd is dunking on Robinhood for a bad acquisition of @x1creditcard for $95M.
I think this was a no-brainer for @RobinhoodApp & I can *prove* it w/ deal economics.
It's all about the combo of Platform, Partnerships, People & Performance.
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Robinhood buying X1
Outside of capturing more of a consumer’s wallet, this cannot be a profit play, no way the unit economics make sense
Robinhood@RobinhoodApp
Announcement incoming 🚨 We’re acquiring @x1creditcard, a platform that offers a no fee, stainless steel credit card with rewards on every purchase, and an intuitive mobile app experience. This is an important step toward serving all of our customers' financial needs. More info: rbnhd.co/newsroom-x1
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X1 doesn't have many customers but seemed to have a good product.
Robinhood has a lot of customers so this could be a good acquisition, cheaper to cross-sell than to acquire new customers.
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I hated that the 1st benefit X1 touted was the weight of its credit card!
I don't get it - do people even know if 17g is a lot or a little? Doesn't resonate with me but I'm not the target.
Raised $62M from Craft, Spark, FPV; last round less than a year ago, sold for $95M
Lucinda Shen@ShenLucinda
Robinhood will acquire FPV and Soma-backed credit card startup X1 for $95 million, it announced Thursday. axios.com/pro/fintech-de…
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