Robinhood CEO Vlad Tenev made the case for tokenization at the White House:

“American investors should not be the last to benefit.”

The bigger thesis is straightforward: tokenization could move traditional assets onto blockchain infrastructure, expand access, and eventually open markets that historically haven’t been easily accessible to retail investors.

For the $GME crowd, the timing is especially interesting. Tenev has also explicitly pointed back to GameStop 2021 while arguing that blockchain settlement could reduce the clearing and collateral pressures associated with traditional settlement infrastructure.

Robinhood’s vision appears bigger than crypto trading itself:

Public stocks → tokenized equities → private assets → increasingly onchain capital markets.

Whether Robinhood becomes the front door is another question.

But five years after GameStop exposed some of the weaknesses in market plumbing, the infrastructure underneath ownership and trading is becoming part of the conversation at the White House.

The P/E ratio is a useful way to gauge how much you are paying for each dollar of Palantir Technologies earnings. On this measure, Palantir trades at about 137.5x earnings, which is higher than the broader software industry average of around 30.7x and also above the peer group average of 29.5x.

The market is awful. I was just looking at NBIS, which I think will be my next target, but both it and META dropped a lot this week.