Recent work has shown that unstable D-branes in two dimensional string theory are represented by eigenvalues in a dual matrix model. We elaborate on this proposal by showing how to systematically include higher order effects in string perturbation theory. The full closed string state produced by a rolling open string tachyon corresponds to a sum of string amplitudes with any number of boundaries and closed string vertex operators. These contributions are easily extracted from the matrix model. As in the AdS/CFT correspondence, the sum of planar diagrams in the open string theory is directly related to the classical theory in the bulk, i.e. sphere diagrams. We also comment on the description of static D-branes in the matrix model, in terms of a solution representing a deformed Fermi sea.
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