This is a small blurb just to supplement some new-ish information on what the SEC is all about,
It’s honestly fake news really, so carry on or whatever.
So this guy;
Used to be a former Commisioner of the SEC;
And went on to work at a Brokerage as a CLO
CLO (Chief Legal Officer) for a nice $30 Million, (in Just last year per this S-1)
He joined Robinhood in May 2020, a popular mobile gam(bl)ing app;
As a side note, I just find it interesting that someone can join a company and get a compensation of almost 40-times that of the CEO;
Well, the CEO and Chief Creative Officer (lmao, might as well call yourself Technoking if we’re making up titles) took a rather large paycut;
Yet, CLO pay has a base salary of $400k and a retention bonus of about $2.1 Million. Yea, $2.1 million;
So the Compensation might be proportional, but still. $30 million?
And per this random article, the average salary of a CLO gets about 200k with some outliers making $5million.
So, let’s just say that Dan here is getting a nice compensation, by nice, I mean a lot.
And by a lot, I mean a fuck-ton.
There is a bit of a weird RSU (Restricted Stonk Units) granted to Dan,
See, he received an offer of employment letter on April 28, 2020,
But was also granted RSU units before 2020,
I read through the words in the Exhibit 10.7 and the main S-1, but didn’t find anything on that.
So it’s a bit suspicious, or I could be missing something (and likely probably misread something);
Overall, it’s sus.
SUS, I tell you
Well, on one hand, it makes sense to hire someone with knowledge to be a part of your team. So if you had someone that knows the nitty gritty of operations and legalities of a regulatory comission, then that brain and knowledge is worth something.
Is it worth $30 Million?
What if, hypothetically speaking, someone is being paid a nice sum to ‘look the other way’ or have some ‘silence’ and be complicit in fraud. It’s a hypothetical, but that’s why there are laws to prevent these sort of conflicts of interest.
Or at least the laws try to, lmao
You know, regulating companies that you can work for in the future. It’s like being a Cop and giving your ‘favored’ gang a pass to get some dough when you quit being a cop. You know, that sort of thing.
How much is your silence worth?
$30 Million is a lot of money, just saying,
I mean, is it all for specifically Legal Advice and counsel?
Also, I personally hate Robinhood
That’s my opinion,
Dan might be told bad information or he might be lying out of his face. But, I mean, “Lawyers”, am-I-right?
Dan here, said Robinhood didn’t colluded with Hedge Funds to stop buying. Which, maybe true, maybe it was a market maker and not a hedge fund. Maybe.
You know, That whole Robinhood Tanking stocks by eliminating buying power, or how about;
When CEO Vlad Tenev said their weren’t liquidity issues (Contrary to Main Stream Media News Coverage) and told Congress under Testimony that the Depository requirements were raised.
Even though the DTCC (Depository Trust and Clearing Corporation; The Big Clearing house) themselves said under testimony that they didn’t raise Depository Requirements,
Oh, and the in-between DTCC and Robinhood Clearinghouse is -well- Robinhood themselves. (Robinhood switched from APEX clearing to their own brand/suite of clearing called Robinhood Clearing or some shit in 2018. Here’s an article for more info).
So Dan, are you lying intentionally or did they feed you a bad script and you’re just honest. . . ly lying? (Or is it lying honestly?)
Overall, this is Sus and Fishy.
Kind of like the Fish Taco special I had for breakfast. I also recommend Chorizo, potato, and eggs Taco. If done right, it’s bomb.
Hey, this name is common, so don’t confuse it with other Dan’s that have nothing to do with this Dan, Like Dan at Mikisew Group, or Dan the highschool basket ball coach. So don’t get it twisted.
I hold no animosity for people who play the game of musical chairs and revolving doors, it’s a mix of systemic issues and personal choices. Nature vs. Nurture and Man vs. Dicks or something equivocally stupid.
Humans, ha, a good joke that one is.
But of course I’m going to blame them if they cause market inefficiencies and deliberately steal from people through scummy business practices and blatant or near-fraud-like actions. To include possible perjury while also restricting trading and rigging the markets themselves.
Because I like free markets,
Mainly because I love money,
Just don’t slam the (revolving) door on your way out,
*Not Valid Financial, Legal, Life , or Any Advice