Robinhood Plans to Cut 9% of Full-Time Employees

The transcript discusses Robin Hood's decision to cut 9% of its full-time employees due to declining crypto trading volumes and a shift towards wealth management. Despite having $6 billion in cash, the company faces challenges with user growth, which turned negative after the meme stock craze and crypto wave. The discussion highlights the need for strategic adjustments to sustain growth.

What was the impact of the meme stock craze on Robin Hood's performance?

What factors contributed to the user growth turning negative for Robin Hood?