Our Father who art in Finance, Howard be thy name…

I was listening to Howard Lindzon on a recent Twitter Spaces discussing Robinhood with the yutes. He mentioned one aspect I thought was worthy of writing down.

While everyone’s running around with their hair on fire and wringing their hands over payment for order flow and grousing about the paltry $240 median account balance, Howard sees opportunities in investment banking.

I’m paraphrasing, and I think I’ve got it right. Howard pointed out the Robinhood IPO itself had 301,573 users who participated in the IPO raising nearly $2 billion. What if Robinhood led IPOs for other companies? The major selling point would be a large, diverse pool of readily available shareholders.