Robinhood CEO Tenev's advice for prospective business owners

Robinhood (HOOD) CEO Vladimir Tenev joins Wealth! to discuss his journey with Robinhood and his advice to prospective business owners.

"I think we tend to overestimate what we can do in the time span of weeks and dramatically underestimate what we can do over a year or two... I think having that perspective, you can start long journeys and chip away at it systematically over a time period of many years," Tenev tells Yahoo Finance. "It's really about figuring out what the smallest step that you can accomplish is and just making sure you make progress every day," he adds. He sees this both as a lesson in life and investing, and stresses the importance of a long-term perspective

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This post was written by Melanie Riehl

Video transcript

And just lastly while we have you here, Vlad, the name of the show is Wealth.

And for a lot of our viewers out there, they're aspirational towards building their own wealth, being able to retain it and ultimately get to a stature like you have as well.

You know, if you had a message to your younger self, just about making sure that you were building a product that you could be proud of and that would help you amass but also retain wealth over time.

You know, what would that message be to your earlier self?

Yeah.

Well, now, now that I'm older and hopefully a little bit wiser, you, you can see the, the gray hairs on my beard.

Um my message would be that uh I think we tend to overestimate what we can do in the time span of weeks and dramatically underestimate what we can do uh over a year or two.

And I, I keep being surprised at this.

So, um I think having that perspective, you can, you can start long journeys and chip away at it systematically over a time period of many years.

And it's really about figuring out what the smallest step that you can accomplish is and, and just making sure you make progress every day, I think it's, it's a lesson in life, but also in investing, I think um we have, we have a lot of impatience and in how we approach things in business, uh generally.

And I think having the perspective and seeing a long time horizon and, and seeing that play out, uh I, I think that's, that's one thing that you gain from just being around longer and, and having that wisdom.

So, uh, if, if you can rock that, I think you're, you're ahead of 95% of the people.

I don't see any grades.

So, uh, you're, you're doing good from our perspective here.

Vlad, Vlad Tenev, who is the CEO of Robin Hood?

Thanks so much for taking the time.

All right.

Thank you.