20VC: Fred Wilson on FOMO’s $94M Raise and Why Robinhood’s Strategy Misses

A candid look at how FOMO won elite investors and built a social-first trading app that challenges Robinhood’s playbook. In this condensed recap of the full 20VC conversation with host Harry Stebbings and guest Fred Wilson, you’ll hear how FOMO attracted Fred Wilson, Benchmark, and Index to back a $94M raise, why the team gave founder-level equity and stayed ruthlessly lean, and how turning early users into owners helped solve the cold-start problem. The episode also covers Fred’s sharp views on cryptocurrency, blockchain, Web3, AI, product intuition, and leadership—plus why he thinks “financial super apps” miss the point and why hard conversations matter in building great companies. Listen now to get the key ideas in minutes.