5 ms·

These guys just took $323 million in a series E. They're valued at 7.6B (well, they were...) Can't afford better engineers?

yebyen 7y ago
If they are down for one full day out of every 365, that's still a potential ceiling of 99.726% uptime for the year. My home internet was down 14% of the afternoon on Sunday this week, and on through the evening. On a month-to-month basis, I can't even seem to crack 99% reliability. (Geez, I should really call them on it, or perhaps get a new modem...) Point is, how high is Comcast's valuation again exactly?
- rurp 7y ago
  ISP are pretty much the poster children for the corruption and incompetence that comes from well entrenched oligopolies. Industries with healthy competition, such as retail investing, generally have much higher standards. Comparing RH to Comcast is not a good look for RH.
- EpicEng 7y ago
  Ah yes, ISP's; the most beloved of corporate entities, and not in any way aided by regional duopolies. RH isn't an ISP, and being down for an entire day of trading is a big deal. If I don't like my ISP... welp, I'm pretty much screwed. If I don't like RH I have plenty of options.
- wasdfff 7y ago
  Your internet goes down, you can’t watch netflix. Boo hoo. Your brokerage goes down, you can’t exit your positions, and, well, just look at the hundreds of thousands of dollars lost on reddit today. People were using their student loan money in their brokerage accounts. It really is a disaster.
  - sombremesa 7y ago
    Not to mention TSB didn't just go down, it let people access other people's accounts!
  - apta 7y ago
    > People were using their student loan money in their brokerage accounts Doesn't sound like the smartest thing to do.
    - pjc50 7y ago
      Reminder that the financial return maximising function for Robinhood benefits far more from "unsophisticated investors put in their student loans" than "service is up all the time". People who are actively trading, especially in options, may well be losing money.
      - yebyen 7y ago
        This is largely my point. I live with <99% internet uptime and I have a Robin Hood account. I only know about this outage because I read about it... feel pretty sure that I am just like the majority of their customer base. I don't check RH every day and I wouldn't have been compelled to check on it at all yesterday except for the news (I'm losing money, who wants to look at that! LOL)

yebyen 7y ago

If they are down for one full day out of every 365, that's still a potential ceiling of 99.726% uptime for the year. My home internet was down 14% of the afternoon on Sunday this week, and on through the evening. On a month-to-month basis, I can't even seem to crack 99% reliability. (Geez, I should really call them on it, or perhaps get a new modem...) Point is, how high is Comcast's valuation again exactly?

rurp 7y ago
ISP are pretty much the poster children for the corruption and incompetence that comes from well entrenched oligopolies. Industries with healthy competition, such as retail investing, generally have much higher standards. Comparing RH to Comcast is not a good look for RH.
EpicEng 7y ago
Ah yes, ISP's; the most beloved of corporate entities, and not in any way aided by regional duopolies. RH isn't an ISP, and being down for an entire day of trading is a big deal. If I don't like my ISP... welp, I'm pretty much screwed. If I don't like RH I have plenty of options.
wasdfff 7y ago
Your internet goes down, you can’t watch netflix. Boo hoo. Your brokerage goes down, you can’t exit your positions, and, well, just look at the hundreds of thousands of dollars lost on reddit today. People were using their student loan money in their brokerage accounts. It really is a disaster.
- sombremesa 7y ago
  Not to mention TSB didn't just go down, it let people access other people's accounts!
- apta 7y ago
  > People were using their student loan money in their brokerage accounts Doesn't sound like the smartest thing to do.
  - pjc50 7y ago
    Reminder that the financial return maximising function for Robinhood benefits far more from "unsophisticated investors put in their student loans" than "service is up all the time". People who are actively trading, especially in options, may well be losing money.
    - yebyen 7y ago
      This is largely my point. I live with <99% internet uptime and I have a Robin Hood account. I only know about this outage because I read about it... feel pretty sure that I am just like the majority of their customer base. I don't check RH every day and I wouldn't have been compelled to check on it at all yesterday except for the news (I'm losing money, who wants to look at that! LOL)