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I don't think most people see Robinhood as a competitor to Schwab or eTrade. It's a competitor to mobile games. The millenial/zoomer cohort that primarily uses

I don't think most people see Robinhood as a competitor to Schwab or eTrade. It's a competitor to mobile games. The millenial/zoomer cohort that primarily uses it are not investing for their retirements with it. It's a casino app used for entertainment.

oxymoran 6y ago
Yea that’s what 401k and IRAs are for. Whether you like it or not, Robinhood has lowered the barriers to entry for actual investing. Sure, there are people that use it like a casino. But the lack of fees per trade and the ability to buy fractional shares opens the door for anyone to be able to start investing with even a small amount of capital. Go yell at clouds somewhere else.
JKCalhoun 6y ago
You're right. But they're probably learning a thing or two and will be better investors when it actually matters — when it's real money. Seems like the big brokerages should encourage Robinhood "gaming". Speaking of which — would love to see a game (does it exist?) where you can play at an investor with pretend money and real market day to say numbers drive your winnings.
- aphextron 6y ago
  >Speaking of which — would love to see a game (does it exist?) where you can play at an investor with pretend money and real market day to say numbers drive your winnings. Paper trading is definitely a thing, and there's plenty of apps that support it. The problem is people will never act the same with paper as they do with real money. It doesn't correlate at all. This is why Vegas odds tend to be far more reliable than polling numbers.
- skinnymuch 6y ago
  Yeah it is sometimes called fantasy stocks. Paper trading. However no one treats that remotely the same as real money. Good chance whatever you do with fake money won’t matter much the second you have a big loss with your real money.
twirlock 6y ago
It was already gambling. There was already nothing special about it. There is nothing special about you or your intelligence. It's not complicated to figure that electric cars might become popular or that delta isn't really going to dissolve. Stop crying about lower barriers of entry to your racket.

oxymoran 6y ago

Yea that’s what 401k and IRAs are for. Whether you like it or not, Robinhood has lowered the barriers to entry for actual investing. Sure, there are people that use it like a casino. But the lack of fees per trade and the ability to buy fractional shares opens the door for anyone to be able to start investing with even a small amount of capital. Go yell at clouds somewhere else.

JKCalhoun 6y ago

You're right. But they're probably learning a thing or two and will be better investors when it actually matters — when it's real money. Seems like the big brokerages should encourage Robinhood "gaming". Speaking of which — would love to see a game (does it exist?) where you can play at an investor with pretend money and real market day to say numbers drive your winnings.

aphextron 6y ago
>Speaking of which — would love to see a game (does it exist?) where you can play at an investor with pretend money and real market day to say numbers drive your winnings. Paper trading is definitely a thing, and there's plenty of apps that support it. The problem is people will never act the same with paper as they do with real money. It doesn't correlate at all. This is why Vegas odds tend to be far more reliable than polling numbers.
skinnymuch 6y ago
Yeah it is sometimes called fantasy stocks. Paper trading. However no one treats that remotely the same as real money. Good chance whatever you do with fake money won’t matter much the second you have a big loss with your real money.

twirlock 6y ago

It was already gambling. There was already nothing special about it. There is nothing special about you or your intelligence. It's not complicated to figure that electric cars might become popular or that delta isn't really going to dissolve. Stop crying about lower barriers of entry to your racket.