The Twenty Minute VC featuring Scott Sandell and Rick Yang on Robinhood

Scott Sandell, Managing General Partner, and Rick Yang, General Partner and Head of Consumer Investing was featured on The Twenty Minute VC for a conversation around our original investment in Robinhood.

In this episode with Scott Sandell and Rick Yang you will learn:

1.) How Rick came to meet Vlad, Robinhood Founder, for the first time? What impressed Rick most in that first meeting? How did the internal discussions proceed at NEA? Was it a unanimous decision to make the investment?

2.) The Market:

  • How did Rick and Scott evaluate the market at the time? Bottoms up, top down?
  • How did the market change and evolve both in ways they did and did not expect?
  • How do Rick and Scott evaluate market timing risk today when investing?
  • How did Rick and Scott approach outcome scenario planning with Robinhood?

3.) The Traction:

  • What core signals and datapoints made Rick realise Robinhood had product-market-fit?
  • How did Rick and NEA analyse Robinhood’s early organic customer acquisition? How did the board advise on how to spend their first marketing dollars?
  • How does the cost structure of the business compare to Charles Swaab and eTrade? Why is Robinhood such a superior model?

4.) The Team:

  • How has Vlad evolved and developed as a leader over time?
  • How did Vlad handle the 36 hours in Feb 2021 when he had to go and raise $3BN+?
  • Who is the unsung hero of the Robinhood team? What have they done to deserve this?