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Robinhood is cutting headcount by 23%, said CEO Vlad Tenev last week. Most of the cuts will be in marketing, operations and program management. It already laid off 9% of its workforce in April. Interestingly, I first heard about the layoffs on The Best One Yet – the podcast formerly known as Robinhood Snacks – which is hosted by Nick Martell and Jack Kramer. The pair sold their financial podcast and newsletter company to Robinhood in 2019, and it became a foundational part of the fintech company’s media arm. A few months ago, it was spun out as TBOY. It had 11.5 million downloads in the last three months of 2021, making it one of the biggest business podcasts around.
Robinhood remained the show’s sponsor after the spinout, but before tha