I had one of those funny juxtapositions visiting Vegas one year: 6 PM: Walk past friends playing at craps table, which has an ATM next to it. Highest allowed chip (and bet) at table: $5,000. Can buy that chip for cash with no questions asked. 9 PM: $5,000 investment to startup. https://twitter.com/BullyEsq/status/1231301801355436032 …
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Robinhood: "Naked calls on Tesla with a 5 delta expiring this Friday!" Investor: "What does that mean?" Robinhood: "I dunno dawg are you man enough to figure out?" Narrator: It means sophisticated investors assess 95% probability of that position going to zero on Friday evening.
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Robinhood: combining crypto's attitude regarding compliance and risk-taking with public markets' presumed legitimacy in the eyes of all stakeholders.
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