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How are the unit economics in favor of Robinhood? This has been tried before and failed. What's changed? https://qz.com/330015/robinhoods-free-stock-trading-app

• docker_up 7y ago
  They have very low cost of acquisition of customers. This is opposite to some brokerages like TDAmeritrade that recently pulled their marketing budgets because they saw literally no uptick from marketing spending. But that's not enough to justify their valuations.