VLAD TENEV, ROBINHOOD

CEO: Tokenization expands access; AI could compress headcount and enable “single‑person companies."

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(04:54:05–04:56:56)

“I think you’ll have more single person companies.” Tenev argued for open, legal token markets—extending beyond stocks/bonds to collectibles and personal brands—and predicted these entities will “trade on blockchains just like other assets,” letting retail invest directly in creators or solo operators as AI displaces functions.

■ Tokenize if legal and there’s market demand
■ Anticipates solo, tokenized firms as AI scales
■ Personal‑brand tokens as investable projects
■ Access focus: retail participation envisioned

✅ @DARecaps: Moderate Widespread tokenization could introduce revenue‑sharing tokens, on‑chain equity, or creator‑royalty flows. Controllers might require policies for on‑chain cap tables, smart‑contract revenue splits, and recognition timing for programmable payouts. Audit teams may ask for contract‑code evidence and oracle controls. Classification could hinge on jurisdiction and rights embedded (security vs. intangible vs. derivative).