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The whole "this can't end well" seems to come at every Robin Hood product announcement. The somewhat recent addition of crypto is just depressing. They've inte
by strict9 8y ago
The whole "this can't end well" seems to come at every Robin Hood product announcement.
The somewhat recent addition of crypto is just depressing. They've integrated it with chat and live announcements of transactions, so you see people's names as they buy $1500 or $2500 worth of crypto as the whole market makes an inverted hockey stick nosedive to zero.
But the most absurd thing was seeing the HN comments yesterday as people were saying they were living up to their name of taking from the rich and giving to the poor. They're doing something worse--tricking non-rich people into thinking they'll get rich, while making a ton of money in the process.
- tomtimtall 8y agoIf they make a ton of money but give users an easy 3% account I wont complain. Why is everyone so mad at them for being successful when they are offering cheaper services then the rest of the market!? Do they need to hire a homeless CEO to actually qualify as doing something good for society overall?
- bbaumgar 8y agoThey are exposing a vulnerable and naive class of investors to a higher-risk asset class in an arguably deceitful way. If their 3% account was SPIC protected (and therefore low-to-no risk), this would be a totally different conversation.
- nodesocket 8y agoI have a money market account at Capital One that earns 2% and is FDIC. Staying there.
- pitaj 8y agoHow dare they give people more options for investment! Despicable.