If you had to give one operating lesson to founders from this phase of Robinhood’s journey, what would it be?

Stay close to the user problem and rebuild the plumbing if needed. 24-Hour Market, tokenized stocks, prediction markets, and Cortex all started with "what would make this customer's experience better," then we worked backward through regulation and cost. Narratives are easy; shipping behavior-shifting products inside real constraints is the hard part.