Robinhood lays off 23% of staff
> As CEO, I approved and took responsibility for our ambitious staffing trajectory—this is on me<p>Reminder that Vlad Tenev received $800M in compensation in 2021. In the same year the company made terrible bets on crypto and banking, took an irreversible reputation hit among its core user base because of the GME fiasco, had multiple user data breaches, was subject to several investigations and was fined hundreds of millions by the SEC and other regulatory bodies, and saw its share price drop by 90%.<p>At this point "taking responsibility" would mean resigning and letting someone more competent fix his messes.