5 ms·
That's not how negative press works in 2018. One-off press events with negative sentiment typically only affect brands that are getting to be known for the fir
by bduerst 8y ago
That's not how negative press works in 2018.
One-off press events with negative sentiment typically only affect brands that are getting to be known for the first time.
While a disastrous launch, most people who heard about this Robinhood checking already knew about the app. I don't think it's going to affect their brand much but will have driven app downloads to check it out, or re-acquisition of churned users. Referral events like this end up driving more core activity, which for Robinhood is making more deposits and trades (not signing up for checking).
- jnwatson 8y agoI have a single datum that contradicts your last premise. My father asked me about Robinhood after the announcement, and he hadn’t heard about the company before. After I sent him the memo from the SIPC, he now associates Robinhood with other fly-by-night internet companies. Robinhood got a lot of press from this, well beyond their existing target market.
- rchaud 8y agoMakes sense to me. News like "trade crypto on Robinhood" wouldn't mean anything to someone not interested in that sector, but everybody understands the value of high interest chequing account. And now that they realize it's not happening, they are right to feel that the company is a fly by night operation. The fact that they announced this before confirming it with regulators smacks of CEO arrogance in the "Funding Secured!" vein.
- bduerst 8y agoWhat you just said supports my comment, since your father had never heard of it before and isn't the target market From my comment: >One-off press events with negative sentiment typically only affect brands that are getting to be known for the first time.
- aeternus 8y agoGoogle trends shows a significant spike: https://trends.google.com/trends/explore?date=today%203-m&geo=US&q=robinhood https://trends.google.com/trends/explore?date=today%203-m&ge...