#56 - Robinhood IPO & The 5 Rules of Mohnish Pabrai

Robinhood
Robinhood said it generated net income of $7.45 million on net revenue of $959 million in 2020.
Robinhood earns revenues from three defined buckets (1) Transaction based revenues (75% of 2020 Revenue) (2) Net interest revenues (19% of 2020 Revenue) (3) Other revenues (6% of 2020 Revenue).
Robinhood currently has over $80 billion Assets Under Custody. Vanguard: $7.2 Trillion. ETrade: $800 billion
17M MAUs
CAC: $20
ARPU: $137

Mohnish Pabrai’s Rules:
Rule 1: Clone like crazy.
Rule 2: Hang out with people who are better than you.
Rule 3: Treat life as a game, not as a survival contest or a battle to the death.
Rule 4: Be in alignment with who you are; don’t do what you don’t want to do or what’s not right for you.
Rule 5: Live by an inner scorecard; don’t worry about what others think of you; don’t be defined by external validation.

Resources:
Safal Niveshak Article / Bloomberg Article / AUM / Meritech Capital

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