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It seems to be one of two options, IMO: 1. They are doing everything like this (i.e. with not enough legal analysis), and have only just now happened to do som
by Derek_MK 8y ago
It seems to be one of two options, IMO:
1. They are doing everything like this (i.e. with not enough legal analysis), and have only just now happened to do something illegal. This would make sense if the top-level people at Robinhood were techbros and not people with experience in finance, but that seems kind of unlikely given that they're able to set up an investment app in the first place - I would assume that's very hard to do if you're not already neck-deep in that industry.
2. They are (for some reason) trying to set this up as a "Robinhood vs The Man (tm)" thing. They're already branding themselves hard on the "Giving financial freedom to the average person" thing, and I could totally see this giving them some free advertisement if they choose to take advantage of the "Big bad government hurting poor people's opportunities!!!" idea.
- elliekelly 8y agoTheir Chief Compliance Officer isn't an attorney. That's a major red flag.
- rchaud 8y ago> They are (for some reason) trying to set this up as a "Robinhood vs The Man (tm)" thing. They are banking (unintentional pun) way too hard on "millennial research" telling them that the '82-'04 crowd wants "a meaningful connection" with their jobs, and apparently, their financial services provider. Maybe this is how they're hoping to relate to them? The connotations of "Robin Hood" are such that it's a pretty brazen name to pick. Especially so when you consider that it's a VC-funded startup that will almost certainly go to a Too Big To Fail institution when an IPO beckons.