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Winning the Degenerate Economy: Masters in Business with Howard Lindzon, Sonic AI
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Winning the Degenerate Economy: Masters in Business with Howard Lindzon
Masters in Business
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May 9, 2026
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1:25:38
Interview
Winning the Degenerate Economy: Masters in Business with Howard Lindzon
From
Masters in Business
Howard Lindzon
(Founder, StockTwits; General Partner, Social Leverage, guest)
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Executive Summary
Howard Lindzon recounts the early investment in Robinhood by his fund, Social Leverage, driven by a thesis of near-zero customer acquisition cost, a stark contrast to incumbents.
Lindzon discusses the creation of StockTwits and the 'cashtag' ($AAPL), and his recent return as CEO to the company he founded 17 years ago.
He expresses a bearish outlook on the traditional venture capital industry, arguing its success was largely a product of the Zero Interest Rate Policy (ZIRP) era.
Lindzon analyzes the rise of the 'Degenerate Economy,' characterized by the gamification of finance through zero-day options and meme stocks, noting that options trading drives ~90% of Robinhood's profits.
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Processed May 9, 2026
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