Robinhood's CFO on Refounding & the Art of Capital Allocation | Shiv Verma

<p>In this episode of Run the Numbers, CJ sits down with Shiv Verma, CFO of Robinhood, to unpack the company&#39;s 2022 &quot;refounding&quot;. They dig into why Shiv personally signs off on every headcount and marketing dollar at a $100B+ company, and how Robinhood&#39;s capital allocation philosophy — no loss leaders, minimal variable costs, and a hard $100 million ARR bar for new products — shapes everything from prediction markets to private-market investing.</p><p>—</p><p>SPONSORS:</p><p>RightRev is a revenue recognition platform built for the AI economy, helping finance support usage-based pricing, credits, hybrid contracts, seats plus consumption, and whatever commercial model comes next. It gives product teams the freedom to keep innovating without outdated revenue systems slowing them down. Learn how RightRev can help at <a href="https://rightrev.com/cj"><u>https://rightrev.com/cj</u></a></p><p>Fidelity Private Shares gives founders the structure and simplicity to focus on what actually matters - building your company. If your startup needs a little extra support (and let’s be honest, who doesn’t need a little help now and then), then you’re in for a pleasant surprise with Fidelity. If you stay investor ready, you don’t have to get investor ready. Check out <a href="http://www.fidelityprivateshares.com"><u>www.fidelityprivateshares.com</u></a></p><p>Rillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at<a href="https://www.rillet.com/cj"> <u>https://www.rillet.com/cj</u></a></p><p>Cloud Capital helps you say goodbye to on-demand rates for cloud. Committing more cuts the rate you pay for cloud infrastructure by 20–60%. Commit wrong and you pay for capacity you&#39;ll never use. Cloud Capital underwrites that risk, so you capture the savings of deeper commitments without locking in architecture or putting engineers on it. Go to <a href="http://www.cloudcapital.co"><u>www.cloudcapital.co</u></a></p><p>Brex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs mo