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Howard Lindzon

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2026-05-08
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2026-05-08
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  1. Same thing. So on stock trust, I can look for tickers that are trending with very few followers. No, not to beer. I don't like small caps. So I'm like, no, I mean, early.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  2. Okay, so I'm looking for trends because, again, I run a huge social media site, right? So if I have a choice between NVIDIA and Sandisk, everybody's talking about Nvidia. I'm not saying I know much about Broadcom saying.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  3. Have you ever hear anybody on social media talking about CBO? Never. They love that no one's talking about them. So the other thesis that I have is trends with no friends.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  4. Frictionless, and we learn. Some of these kids will learn how to be good put sellers premium sellers. Very few. I understand, but the markets are very important, meaning having a price on everything is fantastic.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  5. So, my job is to teach my kid as like stop being a degenerate. But the fact is, you can't not be a degenerate when prices, kids are YOLOing because they can and... And friction.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  6. And you also full circuit on the gender economy, you have the wrong teachers right now. I got brought on board by guys like you, Kramer, the people who had experienced stuff, Fred Wilson. These kids are learning from Chamoth and David Sachs. These guys were born of one generation. They worked at Facebook. They worked for Elon. If you're not rich working for Elon or Facebook, that would be interesting. If you are rich and you're kissing the nipple of Facebook and that's not interesting, you were supposed to be rich.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  7. Talking to me, like you asked me to vend my U50 bucks to put on a 20 team parlor, and you're complaining about it. It's so idiotic. So I'm like trying to teach them not to be idiots. You can have a degenerative.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  8. This is squared. So, anyways, so the degenerate economy is about picks and shovels. We can't stop if a young person like my son, and again, I own and operate two millennials and I don't want them betting, my son will call me and goes, I can't believe I lost a 20 team parlor. I go, who are you? Are we even of my, this is why I have to do a step-in takeover of my son's company because I'm like, are you?

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  9. You can trade it as a, there's a DAT called P-U-R-R. Again, I'm not recommending it, but I'm long a little, is A way that you can trade it over the counter And again, you're betting on the fact you don't know anything about supply demand. You're just, it's the system that everybody's trading.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  10. So CBOA CME hyperliquid now is in there and no one knows what hyperliquid is. I constantly hyperliquid is the thing, meaning today all I get pitched on or by the next Robin Hood. And I'm like, the world doesn't another Robin Hood. But all they keep talking about is, you know, we've got perps trading 24 7 on hyperliquid. It's the new salon now, let's call it. Because I'm not a crypto guy. And I'm like, after getting 100 pitches of the same product, and they all talked about hyperliquid, I just bought hyperliquid.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  11. This is a billion dollar product. Again, this is, I think, part of the age I'm at is like, I don't want to be someone yelling at me that Kathy as soon as I monetize it, it'll go to zero. Like that thing will stop working. I love the idea that I can give it away for free. This goes back to the original social media. Meaning, what am I going to make?

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  12. Have that capital. So, this is why my degenerate economy index was born, meaning I don't think AMC's, what's in my index, which is outperforming everything, is SIBO is one of my time number one positions. Who benefits? So my degenerate economy thesis is finding the companies that benefit from global degeneracy.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  13. It was a zero. We can argue, I don't know the whole story, but I imagine someone called someone at the options clearing firm and said, you're bankrupt. The VCs lucky were in so big they had to have to put in more money.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  14. And I'm like, no one understands this. Like, they were one of the first case studies. I'm like, what? It didn't deserve to be zero. Who knows what all the things that went wrong, but I'm just some guy that's like, what How embarrassing would be if it goes from $40 billion to zero. And, you know, Galloway and all these guys were piling on and all these people piling on. I'm like, you don't even understand what's going on. So wait, let me.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  15. We haven't seen another thing like this. Although recently with Avis, but like GameStop broke the machine and almost bankrupted the company. And it was many lessons in there. The most important was... Robin Hood none in their hubris or anything, they mistook success for a brand. When you build a brand in four years, not 40 years, you don't appreciate that you have no brand value.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  16. Not to be repeated again hasn't been repeated again. And that's what makes the markets great. That hole was filled by the whole being created.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  17. No, but if you push everybody to one button or another button, and then people come on and see me and say, push this button, and everybody's like, let's see what happens. And guess what happened? Crash.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  18. And he could just get the machine to dance for him. Tilt happened. The app was so well designed. The app was so well designed that everybody pushed the same button at the same time.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  19. What Robinhood perfected. Which no one figured out. It was like when we used to play pinball There was always that kid who was so good at it. Crazy flippers bumping. Well, he could bump it without tilting it.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  20. I'm trying to get them fired. I'm trying to get medical checks to see if anything's working. So. So degenerate economy was born of this idea that I couldn't believe where we went, like with GameStop. I was so stressed during the GameStop thing because really I hadn't monetized. I hadn't monetized our investment. I'm like, there was a weekend

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  21. But degeneracy is an art form like speculation. And I live, I own and I had joke that I own and operate two millennials. And when you own and operate two millennials, you watch, you look over their shoulders.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  22. I don't like the word degen. So when I say degenerate, I say it in the humoristic way. You and I are degenerates. Because we'll buy a watch, we'll bet on a game. We laugh at degeneracy. We don't, we don't. We appreciate the art of degeneracy versus meaning laser eyes was dumb.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  23. Luckily by writing that term, she vlog and by judge did the right thing and they carved out like as much as we could. We couldn't even raise a million. So when we, so they carved us out, we put 800 grand in the series A. If we had done the 11 million, I'd be a billionaire.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  24. And they shop it, as they probably index ventures Jan Hammer, who's like one of the best investors. Comes back with a term sheet of 11 million on 65 million Like a five day close. So, you know, they got what they wanted. Oh, and by the way, index in their term shape social leverage. That's a typical, like who are they

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  25. Yeah, so they were like And I'm like inexperienced because we write one check. We don't have more money. So they call me up and they go, can you write us a term sheet? It was a very sophisticated way of saying you won't have to actually invest, but if you come in, like we can kind of shop it around. So I'm like, screw that. I want to invest. So over July 4th week, I'm Tom, my partner, and I was two of us at the time. I'm like, let's just write an 11 million. They needed to raise $11 million and they wanted to raise it at some stupid valuation. It was $60 million-ish. And I'm like, well, we're never going to have to really write it. But even if we do, I can convince my friends, like this is the one. And I called Fred Wilson and he goes, what are you calling me for? You know what to do. Write a term. I go, but we don't have $11 million. And Fred goes, you'll find it. Just do it like a six-week, which is absurd. Now today, people write billion dollar checks in an hour. But like, because just ask for six weeks, right? So whatever you're typing it up and send him a term sheet.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  26. 2021 terrible ventures. So when Robin Hood was doing very well, but the two guys were like, it was not popular. All the VCs had committed to betterment wealth front type model. So now they needed to raise another round. And I'm like. They wanted to raise

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  27. Your expertise, here's my skill set. I'm a good apply the area I know best. So with ramen, so occasionally, and again, stars all align. And I had breakfast with Fred this morning. We're talking about you're a legend, Josh's allege. Like I'm around surrounded by legends because I've lived long enough. I've lived long enough. And I'm curious and I'm nice and I call people to say hello. I'm a salesman. So who do I see this morning? Fred Wilson. Like, who did I rent it? Tim O'Brien. Like, I'm friends with people that have, you have signal because you have what you've been on the street and you have experience, not maybe in space, but in what you do, you have signal. So when Robin Hood and I had learned from Fred Wilson, like if you really believe in something.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  28. Yeah, I don't think our returns would be good. We like writing one to two million dollar checks. I get that. Stay in your lane is something everybody hates saying, but I think in my world, unless you're fee gathering, stay in your lane. People know what we do.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  29. Because this is just an investing story. So we're very small fun. The first one was $6 million. Now we run $100 million funds. Concapita.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  30. Anybody else? Well, I knew that from Structus. I knew I'd capture them But if I mention the arbitrary, people are like, oh, they're going to have to raise so much money. There was a lot of trade.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  31. And all they had to do was deliver the product. Now it went way beyond my expectations. That's the Larry David. By the way, you didn't get.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  32. From acquisition, and my thesis was like Uber, Robin Hood would pay zero. So if you get a million people, even if they're $4 in their good herb, those don't come along. Did I think it could be a $30 billion? I'm not so psycho that I thought I was investing in a $30, $40 million company, billions, billion. So of course I'm not that smart. But what I'm saying is I saw the ARP.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  33. Today, when we invested in Robin Hood, here was my thinking is, first of all, I love the product. You got to be a user of the product to be a good investor. I'm not the guy who's like, here's space check and here's the biotech. What do I know? So the odds have to be stacked in my favor, first of all. But second of all, and they were. I was Yahoo. I was Yahoo Finance. I was you. I was blogging. I was doing everything. And they came along at the right time. The pitch for me with Robin Hood was not that they were going to make money. It was an eight million valuation. At my event, people were like, how are they going to make money? Chill the hell out. They haven't even launched a thing yet. The point was Schwab was paying $150 to get a customer.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  34. Robin Hood? Crypto Tiny. Options is everything 90% of their profits will come from options. Any broken other than options? People doing YOLO trades.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  35. There are very few people that understood. Very few people liked Robin Hood until 2020 and GameStop. And they like it for the wrong reasons, by the way. I don't like the Robin Hood that became. I call it the degenerate economy, but when I invested in Robin Hood, I didn't know the degenerate economy exists. I didn't know the prediction markets would exist. I didn't know options would be their biggest product. I was just wanting to see options.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  36. Yeah, I can laugh at myself, but I'm trying to run a serious business, right? Because it's been a long time. And we were just way ahead of the curve. Like Jack and Ev didn't understand what we have. Fred Wilson understood it.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  37. If it was truly, they call me every day So there's two worlds that I live in the world where retail doesn't take itself seriously And private equity guys call me, CEOs of public companies call me to take, I'm in a crazy seat because I'm a goofball, but I am serious, you know, like I am serious. Like I'm trying to be serious.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  38. We were 10 years ahead of our time. If you think about where public, when I start stock to it, retail investing was a laughing stock. Yeah. And it still is to most institutions.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  39. Something say overvalued or undervalued forever as we know from the mind. And I think Stock Twitch, I'll take full responsibility, we've always missed a window of positioning. But the good news is Stock Twist is thriving. Right. It's doing well. This is a perfect.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  40. I'm discussing it right now openly. There's always a price which camera camera two no listen. We have never, some things are only fairly valued for a second.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  41. Okay, well, my venture capitalists, if they're as good as they say, and they are great. Should have stopped me and said, this isn't quite venture capital.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  42. Not that it wasn't my dream when I started to talk to us, is to be sitting here answering questions about how am I going to make money. Let me bust you. You were very right to do this. So what I'm saying is,

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  43. Okay, so I joke about this with my finger. Whose fault is it? Okay. I think Structure is a great idea. The hashtag was a great idea. I'm very proud of it. I'm not proud of having to run a company 17 years later.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  44. Forgetting how bungled the company is. The fact that they owned real time and do not own real-time and that I'm the schmuck that came up with the original, like Trump is going to tweet. No, obviously Obama was president when I had this idea, but that the pipe matters and who was king of the pipe to think that Trump beat Elon at his own game is pretty insane

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  45. Truss was worthless other than one guy who sits on top of Twitter and you have to copy paste his tweet. Like, so Twitter is.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  46. He's made tremendous mistakes to think that Trump end around the whole thing, meaning Twitter's supposed to be a real-time network. They have to pull true social.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  47. Yeah. And so Twitter, and the real problem with Twitter was it was a financial product. And Elon knows that better than anybody in the end. Although he just monetized it by stepping it in a shell company. It's still like, it's an asset

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  48. So, no, but what I'm saying is they're my Newman, like in Seinfeld, meaning these people, it was a clown car, as Zuckerberg said. There's so many people that got rich. It was a clown car-executing.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  49. The best tech companies like Salesforce, he understands corporate dev. Sometimes you buy something to kill it. To say, and by the way, and just incorporate the best maya portion. They're like my Newman. Twitter's like my Newman from Cypos. It's like Twitter. Like, you know. Now who's there?

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source

  50. Fred strategy is if he bets on one, he does. And I follow Fred's strategy. There's other people who spray and pray and don't care who they, and 90% do that. But Fred was of the opinion back then as like, I work with you. There's going to be conflicts or a thing, like no conflict, no interest. He's very cool that way, but don't create conflict just to create conflict. So in his wisdom, he was like, you know, what's going to happen if you guys get in a fight and yada yada yada? So he politely backed out. But we were backed by good VC. Raising money was not my problem. My thesis should have said, Harran, you know, just not a good enough idea.

    2026-05-08 · Masters in Business · Winning the Degenerate Economy with StockTwits CEO Howard Lindzon · IDENTIFIED FROM THE TRANSCRIPT · source