Robinhood on the Road to Rebellion, & AOC at the Met: “Tax the Rich”

Squawk Pod

The Metropolitan Museum of Art’s annual gala returned to New York City on Sunday, and hundreds of celebrities walked the red carpet to celebrate the Costume Institute’s “In America: A Lexicon of Fashion” Exhibit. Making a splash among entertainment’s wealthiest elite, New York Representative Alexandria Ocasio-Cortez donned an Aurora James gown with a loud message: “Tax the Rich.” Robinhood’s payment-for-order-flow business model has long been the focus of the platform’s biggest critics, but Robinhood chief legal officer Dan Gallagher defends the back-end payment system as benefit to retail investors. Gallagher, a former SEC commissioner, maps the market’s road to the Reddit Rebellion and the rise of retail investors. Plus, update your iPhones! In light of security concerns, Apple is recommending that users update all of their iOS devices.

In this episode:
Dan Gallagher, @DanGallagherDC
Becky Quick, @BeckyQuick
Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin