Considering interviewing there, but there is surprisingly little info on blind. They seem to be having a lot of success lately, and in hyper growth mode. Anyone work there or has interviewed? Thoughts?
My 2 cents. Their business model is still not clear to me and I'm thinking that they are hoping to get acquired by one of the bigger brokerage firms. Their margin lending, payment for order flow, crypto initiatives might not make them break even. They were able to raise 110M last April, so that should keep them well funded into the future. However there are fixed costs to running a business such as salaries, perks, real estate, trade execution and reconciliation, server costs. At this point they might be burning far more than they make. If you end up interviewing with them please ask about their business model and plans to go IPO or getting acquired.
From what I hear their burn rate is very low, and they border on profitability at times
I do not like their business model. Seems more like a fad than anything. Their bid/ask spreads are enormous and I can’t think of a good reason to use them.
I think it’s a great place to work. The culture is very friendly and transparent. The founders share details of what’s going on (including board meeting decks) frequently. There’s a lot of talented engineers and product people there and even more joining recently as they grow. The business model is pretty standard financial services but with the margins pressed as low as they can go. I think criticism about the business model from others is mostly ignorance as to how a financial services company makes money. The per-trade commission is not the only way an investment broker keeps the lights on. Robinhood has a pretty bold mission that excited me. They want to democratize access to the financial system, and understand that access has to do with removing hurdles and helping to educate. It seems to me the current product is not yet achieving this mission which means there’s still a ton of impact to be had over the years to come.
Yo you are the first Robinhood Blinder I've seen. What's the TC like for an L4 equivalent?
Robinhood won’t compete with FAANG for salary, but is highly competitive against the startup scene. Their equity offers are very healthy, so TC depends on how optimistic you are about future equity outcomes.
I’ve been consulting with them on recruiting for the last 2 1/2. Happy to chat and share my perspective if you want to DM me.
How is the interview process? Is it like regular problem solving and design?
@Robinhood folks and others, how’s the company doing now? Super interested in a role at the company, any info you’ll help greatly, more along the lines of culture, future and competency, followed by TC, then interviews. Thanks!
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They’re gonna be acquired soon
Why do you think that?