Ken Griffin’s Secret War on ‘Dumb Money’

From its inception, Robinhood was designed to profit by selling its customers’ trading data to the very sharks on Wall Street who have spent decades—and made billions—outmaneuvering investors. In fact, an analysis reveals that the more risk Robinhood’s customers take in their hyperactive trading accounts, the more the Silicon Valley startup profits... See more

Yet in the US$32 billion industry for financial data, Bloomberg is the dominant player, with a third of the market. Its position has become even more entrenched over the past ten years, as those around it have lost market share.

By the middle of 2021, Sam saw that he could not sweet-talk regulators and at the same time have CZ as a big investor. If you wanted to be the teacher’s pet, you couldn’t sit in the back of the classroom with the badass in the leather jacket. The first thing every regulator asked for was a list of your investors, and personal details about them. “T

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