3 ms·
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 thou
by 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 agoNot 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 agoReminder 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 agoThis 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)