4 ms·
The worst part is the branding. Their narrative/coolaid is that they were part of the 'Occupy Wall Street' movement and wanted to do something about it! Couch
by jariel 6y ago
The worst part is the branding.
Their narrative/coolaid is that they were part of the 'Occupy Wall Street' movement and wanted to do something about it!
Couching their very otherwise standard trading scheme into woke credentials, bringing an entire generation of woke youth literally right into the system they ostensibly lamented.
'Overthrow the Imperium by ... joining the Imperium and losing all your money to them!'
Like WeWork, We Charity etc., it just reeks of hypocrisy.
I'm of the belief that most traders are in fact caught up in the more superfluous aspects of trading, the 'belief' that they have some ability/skill/insight when really the are mostly in way over the heads, fish being handed over to sharks for easy money. That's obviously not entirely the case, but to a great extent. Who in heaven's name is trading complex options instruments on their smartphone ... my gosh.
The $0 fee merely encourages active trading, which is a hallmark of most bad trading strategies.
It mixes the worst aspects of gambling, with the worst aspects of hyper capitalism (the assumption that trading/investing is inherently positive) and the worst aspect of woke branding (playing on progressive credentials without any material action to that effect).
And CNN has done how many full PR pieces on these guys?
If their name was "Make Quick Cash Now with BIG LOANS for Hyper Trading, Insert Credit Card Here" - then I think it would all be much more transparent and fair.