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Agreed, some degree of personal responsibility is needed in the case of addictive behavior. Robinhood in that aspect (gamification) falls into the same category
by dh5 6y ago
Agreed, some degree of personal responsibility is needed in the case of addictive behavior. Robinhood in that aspect (gamification) falls into the same category as gambling, and the only difference is that is that it comes from the Bay Area as opposed to Vegas or AC.
- andrewzah 6y agoTrading options is gambling. It is. Just because TDAmeritrade has a very spartan UX doesn't mean people haven't made very stupid trades on it.
- throaway1990 6y agoYou are right, but Options trading isn't available to people with less than $5k deposits on Robinhood and I think same is true with margins. Robinhood is more agressive when it comes to margin calls, that actually protects inexperienced investors.
- kjksf 6y agoBy that definition: does Strava and Duolingo fall into the same category as gambling? Those are both highly gamified apps. So maybe let's not play loose with meaning of words. Gambling means 1 of 2: "play games of chance for money; bet." Investing is not a game of chance. I'm not making investing decisions randomly. "take risky action in the hope of a desired result." Investing could be gambling according to this definition (there are risky investment strategies) but on average investing in U.S. stock market is not risky. If you abstain from doing risky things, you can have 8-15% yearly return by putting all your money in S&P 500 tracking stock. And if you want to blame someone for people's risky investing, blame https://www.reddit.com/r/wallstreetbets/ https://www.reddit.com/r/wallstreetbets/ (1.3 million people reading stories like "$35k -> $1.25 in 4 months") not Robinhood for making an easy to use stock trading app.