Tenev: I think it was actually pretty challenging early on. There were a lot of people who just didn't believe in it, and we had to bang down a ton of doors, and we were really relentless. We probably knocked on 75 doors before we actually made it work.
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The Hollywood and tech scenes are coming closer. Snoop Dogg is one of Robinhood's investors. Richard Shotwell/AP.
Tenev: To preface it, before we started Robinhood and launched it, we had very little experience with mobile app development and, really, consumer product development. I mean, our previous company, like I mentioned, was enterprise software, so —
Published October 11, 2022.
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Various know-your-customer (KYC) regulations also apply to venture capital. KYC includes identifying parties involved in private equity transactions, such as the verification of client identities and obtaining the proper Federal identification numbers. Proper KYC helps to prevent money laundering and is a prominent part of financial crime enforcement as stipulated in the USA Patriot Act.
