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Speaker 1: Earners.

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Speaker 2: What's up.

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Speaker 1: You ever walk into a small business and everything just

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Speaker 1: works like The checkout is fast, the receipts are digital,

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Speaker 1: tipping is a breeze, and you're out the door before

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Speaker 1: the line even builds. Odds are they're using Square. We

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Speaker 1: love supporting businesses that run on Square because it just

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Speaker 1: feels seamless. Whether it's a local coffee shop, a vendor

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Speaker 1: at a pop up market, or even one of our

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Speaker 1: merch partners, Square makes it easy for them to take payments,

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Speaker 1: manage inventory, and run their business with confidence, all from

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Speaker 1: one simple system. If you're a business owner or even

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Speaker 1: just thinking about launching something soon, Square is hands down

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Speaker 1: one of the best tools out there to help you start, run,

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Speaker 1: and grow. It's not just about payments, it's about giving

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Speaker 1: you time back so you can focus on what matters

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Speaker 1: most Ready. To see how Square can transform your business,

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Speaker 1: visit Square dot com backslash go backslash eyl to learn

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Speaker 1: more that Square dot com backslash, go backslash eyl. Don't wait,

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Speaker 1: don't hesitate. Let's Square handle the back end so you

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Speaker 1: can keep pushing your vision forward. This episode is brought

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Speaker 1: to you by P and C Bank, a lot of

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Speaker 1: people think podcasts about work are boring, and sure they

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Speaker 1: definitely can be, but understanding of professional's routine shows us

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Speaker 1: how they achieve their success little by little, day after day.

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Speaker 1: It's like banking with P and C Bank. It might

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Speaker 1: seem boring to save, plan and make calculated decisions with

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Speaker 1: your bank, but keeping your money boring is what helps

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Speaker 1: you live or more happily fulfilled life. P and C

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Speaker 1: Bank Brilliantly Boring since eighteen sixty five. Brilliantly Boring since

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Speaker 1: eighteen sixty five is a service mark of the PNC

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Speaker 1: Financial Service Group, Inc. P and C Bank National Association

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Speaker 1: Member FDIIC.

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Speaker 2: Talk about your credit card. I know you said that

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Speaker 2: you have it. If you could show it that it'd

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Speaker 2: be cool too. But yeah, why was that important for

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Speaker 2: you guys to diversify your portfolio? Ad that? And what

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Speaker 2: makes it different from other products in the financial services space?

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Speaker 3: Okay, so here it is. It happens to be in

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Speaker 3: my wallet. Can you guys see that.

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Speaker 1: Nice fourteen care fourteen carrot with the logo at the top.

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Speaker 2: Uh?

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Speaker 3: Yeah, I think it's actually ten ten carrot if I'm

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Speaker 3: not mistaken. Yeah, it has it has to be. It

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Speaker 3: can't be that soft because you don't want it to

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Speaker 3: bend while you're while you're swiping it. Let's see why

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Speaker 3: is it important? I think that if you look in

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Speaker 3: the US, UH, the vast majority of spend for our

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Speaker 3: customers is credit card spend. So credit cards are a

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Speaker 3: tool for lending money, but they're also a tool for

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Speaker 3: for transacting and spending and buying things and paying bills.

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Speaker 3: And in the US, where UH sort of like E wallet,

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Speaker 3: adoption has not been as high, credit cards are still primary.

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Speaker 3: So there's somewhere around eight hundred million cards in circulation

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Speaker 3: in the US, hundreds of millions of people have them.

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Speaker 3: On average, they hold two to three cards per person,

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Speaker 3: so it's more mass market than even investing. More people

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Speaker 3: hold credit cards than individual brokerage accounts in the US,

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Speaker 3: And so if we wanted to serve customers in the

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Speaker 3: totality of their financial needs and we want to grow

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Speaker 3: wallet share with them, we need to have a solution

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Speaker 3: for their spend. And people tend to stay on credit

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Speaker 3: cards as well. Once you get your first one, you're

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Speaker 3: typically not going back to using debit for your transactions

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Speaker 3: because of the rewards being so compelling and the economics

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Speaker 3: and credit interchange being so high, it tends to be

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Speaker 3: a one way door where once you become a credit

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Speaker 3: card user, you tend to stay one. And so we

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Speaker 3: wanted to take the Robinhood recipe of industry leading value

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Speaker 3: and customer experience and build a credit card around that.

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Speaker 3: And to us, what that looks like is on the

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Speaker 3: economics front, three percent cash back across the board, which

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Speaker 3: is higher than any other card gives. We also wanted

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Speaker 3: to build an awesome digital app around your credit card experience,

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Speaker 3: and I think the team's done a really amazing job there.

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Speaker 3: The app is beautiful, it's delightful, it's like really easy

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Speaker 3: to use. I think that if you guys have a

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Speaker 3: chance to try it, it's rolling out right now, you'll

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Speaker 3: see what I mean. It's the craftsmanship of this app.

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Speaker 3: I don't think any other credit card product comes close.

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Speaker 3: And then the third thing the physical design. So this

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Speaker 3: is a solid of gold. It is minimal, you know,

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Speaker 3: nothing nothing on the nothing on the front, not even

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Speaker 3: the network logo, just the Robinhood logo and a little

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Speaker 3: stamp here that shows that it's it's gold. It has

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Speaker 3: the atomic number. There's no number on the back, so

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Speaker 3: from a security perspective, that's really good. You can you

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Speaker 3: know if you happen to lose the card, although if

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Speaker 3: you lose this one, you've got you've got bigger problems

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Speaker 3: than just a plastic card. Of course, you don't have

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Speaker 3: to change your number because it hasn't been compromised. So

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Speaker 3: we really paid attention to all the details and asked ourselves,

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Speaker 3: how can we make the best credit card product, and

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Speaker 3: how can we deliver a mass market credit card that

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Speaker 3: has the perks that you would only see given to

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Speaker 3: a high net worth credit card customer. And I think

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Speaker 3: we've managed to do that, and the reception has been strong.

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Speaker 3: Over a million people have signed up, actually over a

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Speaker 3: million people signed up in the first month after we

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Speaker 3: made the announcement. And now we just have to deliver

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Speaker 3: it to all those people in a reasonable timeframe, while

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Speaker 3: making sure that as we enter this new category, we

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Speaker 3: do it with we do it carefully and manage all

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Speaker 3: of the all the borrowing and and all of the

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Speaker 3: new things that you tend to see when when you

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Speaker 3: enter a new product category.

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Speaker 4: With the rise and acceptance of AI, have you, guys

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Speaker 4: considered or are you working on any algorithmic robots for

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Speaker 4: trading on the platform.

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Speaker 3: I think that the really interesting use cases for AI

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Speaker 3: tend to be things where maybe you have a human

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Speaker 3: that's providing a valuable service to you that you're already

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Speaker 3: paying for, or sort of like things that remove toil

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Speaker 3: that you would do yourself, but that you really don't

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Speaker 3: want to be doing, like filing your taxes or something. So,

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Speaker 3: you know, in the first category, you see things like

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Speaker 3: self driving vehicles, and there's a pretty clear market for that.

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Speaker 3: You know, you see customers doing ride sharing. They request

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Speaker 3: a ride, there's a driver, they pay for it, very

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Speaker 3: valuable service. So I think it makes a lot of

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Speaker 3: sense to me that AI would disrupt that space. Now,

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Speaker 3: when you think about financial services, I think there's several

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Speaker 3: areas that humans are providing service to customers that have

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Speaker 3: the potential to be disrupted or fundamentally rethought in the

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Speaker 3: next ten years. I think financial advice is clearly one

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Speaker 3: of them. You know, customers are paying a lot of

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Speaker 3: money for finance advice. It's something that only the wealthiest

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Speaker 3: customers can afford right now, and really really good advisors

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Speaker 3: tend to want to serve you if you have millions

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Speaker 3: of dollars but if you're just getting started, or if

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Speaker 3: you have hundreds of thousands of dollars or tens of thousands,

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Speaker 3: it's pretty tough going like you're not getting great experience,

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Speaker 3: not getting great service. So I think that can be

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Speaker 3: fundamentally transformed by artificial intelligence, and that's an interesting problem

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Speaker 3: that Robinhood can help solve for customers. The other thing

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Speaker 3: is customer service. Providing customer service on a large scale.

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Speaker 3: I think we'll be transformed by artificial intelligence, and particularly

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Speaker 3: the transactional elements of you know, I have this problem,

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Speaker 3: Help me interpret it, help me understand it, help me

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Speaker 3: solve it. I think AI is going to be very

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Speaker 3: very important there. I'm less bullish on the applications of

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Speaker 3: AI to self directed trading and in the active trading space.

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Speaker 3: I think there are applications kind of on the boundaries

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Speaker 3: there that help remove toil and things like that. But

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Speaker 3: I think people fundamentally enjoy doing that themselves, and so

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Speaker 3: I don't think you're going to see it being replaced

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Speaker 3: by robots anytime soon. But I could be wrong. I've

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Speaker 3: been wrong about other things in terms of Robinhood's role

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Speaker 3: in this, I mean, we've been early in AI since

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Speaker 3: before it was called AI. It was called machine learning

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Speaker 3: for a long time. Now if you say the words

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Speaker 3: machine learning, people think that you're very old school. But yeah,

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Speaker 3: generative AI, LMS. There's new technologies that have come in

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Speaker 3: that we're going to continue to incorporate. But from the

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Speaker 3: very beginning, I think we were very quick to invest

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Speaker 3: in this.

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Speaker 5: And illegal alien from Guatemala charged with raping a child

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Speaker 5: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 5: accused of murdering a Texas man of Venezuelan charged with

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Speaker 5: filming and selling child pornography in Michigan. These are just

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Speaker 5: some of the heinous migrant criminals caught because of President

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Speaker 5: Donald J. Trump's leadership. I'm Christy Noman, the United States

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Speaker 5: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 5: crossings are at the lowest levels ever recorded, and over

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Speaker 5: one hundred thousand illegal aliens have been arrested. If you

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Speaker 5: are here illegally, your next you will be fined nearly

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Speaker 5: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 5: never return. But if you register using our CBP home

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Speaker 5: app and leave now, you could be allowed to return

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Speaker 5: legally do what's right. Leave now. Under President Trump, America's laws,

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Speaker 5: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security,