Jim Cramer's Takeaway From Dave Portnoy's Interview With Robinhood CEO

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Barstool's Dave Portnoy sat down with Robinhood CEO Vlad Tenev late Tuesday in a Twitter live interview.

Portnoy, who has voiced his criticism of Robinhood since the GameStop saga took off following Robinhood placing buy restrictions on the stock and some others that were viewed favorably by r/WallStreetBets, did not hold back when talking to Robinhood's Tenev.

Tenev said, when Portnoy pushed on whether or not Robinhood would have regulated trading had Robinhood not received a 3 a.m. call which stated that the brokerage faced a $3 billion margin call, that "...If [Robinhood] has a bunch more headroom, we probably would've let things continue."

He also conceded that the company faced a possible liquidity issue had the brokerage not acted to regulate the WSB favorites.

Cramer said Portnoy's conversation with Tenev showed that Tenev represents an app while a company like PayPal represents an ethos. "App versus ethos, go with ethos," Cramer said. 

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