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Gambling closely ties into a fundamental human interest. A legal gambling app is definitely hugely valuable. I truly mean to say this in the most positive ang
by mehrdada 8y ago
Gambling closely ties into a fundamental human interest.
A legal gambling app is definitely hugely valuable.
I truly mean to say this in the most positive angle possible. I think they are providing a valuable service and a great app, but it is a very nice business as well due to the above.
Kudos to the team.
- 49bc 8y agoI’ve yet to see any indication that people “gamble” (day trade) more when it’s free versus fee. Is this a fair criticism to level on Robinhood? Besides, they have day-trading limits built into the app. It’s really just a mobile-first brokerage with extremely low net fees. And I’m grateful for it.
- mehrdada 8y agoIt was not aimed to be critical at all, just a comment on the attractiveness of the business. Anecdotally, it definitely feels like it has broadened the base of the retail investor audience (which I think is a great thing) and if you have seen the options and crypto currency UIs it strikes similarities with fantasy football and makes those objects shinier.
- mrlala 8y ago> I’ve yet to see any indication that people “gamble” (day trade) more when it’s free versus fee. I wouldn't say they "gamble" more because it's free, but because it's too damn easy on mobile. That's not a "good thing" from my point of view. People shouldn't be training themselves that they can manage their portfolio anytime/anywhere with a device they have on themselves 99.9999% of the time. It simply encourages a person to be way more active with their portfolio than they should be. Of course it has valid uses for some people, but most are just going to get themselves into trouble.