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Considering they have completely annihilated their reputation with anyone remotely paying attention, the only market left for them might be 18 year olds who can

Considering they have completely annihilated their reputation with anyone remotely paying attention, the only market left for them might be 18 year olds who can only invest $10 at a time

everetm 7y ago
That's a pretty toxic comment. Surely multiple banks and other software businesses have made mistakes but that doesn't stop the users from trusting their services. All this will blow over and people will forgive and forget. You don't need to age discriminant just because they make it easier to invest
- frockington1 7y ago
  As a financial institution trust is everything. When they lied about savings accounts being SPIC insured, they lost a lot of credibility that will be near impossible to get back. And nothing against 18 year old, I also used Robinhood starting out. But once you have over a couple thousand invested, you need a bit more confidence in the company. This is without even going into the stupidity that was infinite leverage and the CEOs response afterwards. That is an entirely different level of incompetence that would need a novel to fully expand upon
- deleted 7y ago
  [deleted]
mhuston 7y ago
> "Considering they have completely annihilated their reputation with anyone remotely paying attention" Can you elaborate on this a bit and/or share article(s)?
- toomuchtodo 7y ago
  https://www.reddit.com/r/wallstreetbets/comments/aeqcvt/i_dont_know_when_to_stop/ https://www.reddit.com/r/wallstreetbets/comments/aeqcvt/i_do... (Failure of Robinhood's risk management systems) https://www.reddit.com/r/wallstreetbets/comments/dpnzup/i_recorded_todays_marketopen_and_the_instant/ https://www.reddit.com/r/wallstreetbets/comments/dpnzup/i_re... (Reg T violation) https://www.theverge.com/2018/12/15/18142319/robinhood-finance-startup-checking-savings-product-backtrack-criticism-cash-management-sipc https://www.theverge.com/2018/12/15/18142319/robinhood-finan... (Lying about their to be released cash management feature being SIPC insured that SIPC forced them to walk back)

Considering they have completely annihilated their reputation with anyone remotely paying attention, the only market left for them might be 18 year olds who can only invest $10 at a time

everetm 7y ago

That's a pretty toxic comment. Surely multiple banks and other software businesses have made mistakes but that doesn't stop the users from trusting their services. All this will blow over and people will forgive and forget. You don't need to age discriminant just because they make it easier to invest

frockington1 7y ago
As a financial institution trust is everything. When they lied about savings accounts being SPIC insured, they lost a lot of credibility that will be near impossible to get back. And nothing against 18 year old, I also used Robinhood starting out. But once you have over a couple thousand invested, you need a bit more confidence in the company. This is without even going into the stupidity that was infinite leverage and the CEOs response afterwards. That is an entirely different level of incompetence that would need a novel to fully expand upon
deleted 7y ago
[deleted]

mhuston 7y ago

> "Considering they have completely annihilated their reputation with anyone remotely paying attention" Can you elaborate on this a bit and/or share article(s)?

toomuchtodo 7y ago
https://www.reddit.com/r/wallstreetbets/comments/aeqcvt/i_dont_know_when_to_stop/ https://www.reddit.com/r/wallstreetbets/comments/aeqcvt/i_do... (Failure of Robinhood's risk management systems) https://www.reddit.com/r/wallstreetbets/comments/dpnzup/i_recorded_todays_marketopen_and_the_instant/ https://www.reddit.com/r/wallstreetbets/comments/dpnzup/i_re... (Reg T violation) https://www.theverge.com/2018/12/15/18142319/robinhood-finance-startup-checking-savings-product-backtrack-criticism-cash-management-sipc https://www.theverge.com/2018/12/15/18142319/robinhood-finan... (Lying about their to be released cash management feature being SIPC insured that SIPC forced them to walk back)