5 ms·

What a betrayal of their customers. Really going mask-off with what it means for a startup to "democratize" an industry: allowing the little guy to chip in, but

What a betrayal of their customers. Really going mask-off with what it means for a startup to "democratize" an industry: allowing the little guy to chip in, but never actually compete with the big boys.

SirSavary 6y ago
Not 100% the same but this feels similar to the Apple crowd explaining to me that I don't want an open computer in my pocket.
- jackfrodo 6y ago
  Sure with broad strokes, it generally sucks when a tech company makes unilateral decisions for its customers, whether that's restricting which stocks you can buy or whether you can put unauthorized apps on your iPhone. But I find it particularly egregious because the major principle of RH was that it was on the side of the everyman rather than institutions.
  - mrguyorama 6y ago
    > the major principle of RH The "major principle" is to make billions of dollars by owning the market, as it always seems to be with these silicon valley startups
    - jackfrodo 6y ago
      Right right, I mean the face-value marketing "major principle", the one I was foolish enough to trust for a while.
  - vlovich123 6y ago
    And yet their entire business model is that they offer it for free because they sell access to your orders to market makers so that they front run your transaction.
- ChicagoBoy11 6y ago
  Yes and no. At no point did Apple sell me on the idea that I'd have an open computer in my pocket. In fact, they aggressively sell me on the opposite, and make it clear that they act as gate-keepers to what apps can and can't be in my pocket. Totally legitimate to take issue with that, but I think there's a marked difference between doing that and Robinhood arbitrarily preventing folks from doing these trades.
  - SirSavary 6y ago
    Should have clarified: Apple Inc sells me on a closed up device, which is fine. Some Apple loyalists explain to me that I don't know what I want and that Apple Inc's ideology is the one true way. Personally I have both an iPhone and an Android. Locked-down personal device and a customizable dev phone ¯\_(ツ)_/¯
yottalove 6y ago
This applies to Crypto as well. Negligible fundamentals. Negligible oversight.

SirSavary 6y ago

Not 100% the same but this feels similar to the Apple crowd explaining to me that I don't want an open computer in my pocket.

jackfrodo 6y ago
Sure with broad strokes, it generally sucks when a tech company makes unilateral decisions for its customers, whether that's restricting which stocks you can buy or whether you can put unauthorized apps on your iPhone. But I find it particularly egregious because the major principle of RH was that it was on the side of the everyman rather than institutions.
- mrguyorama 6y ago
  > the major principle of RH The "major principle" is to make billions of dollars by owning the market, as it always seems to be with these silicon valley startups
  - jackfrodo 6y ago
    Right right, I mean the face-value marketing "major principle", the one I was foolish enough to trust for a while.
- vlovich123 6y ago
  And yet their entire business model is that they offer it for free because they sell access to your orders to market makers so that they front run your transaction.
ChicagoBoy11 6y ago
Yes and no. At no point did Apple sell me on the idea that I'd have an open computer in my pocket. In fact, they aggressively sell me on the opposite, and make it clear that they act as gate-keepers to what apps can and can't be in my pocket. Totally legitimate to take issue with that, but I think there's a marked difference between doing that and Robinhood arbitrarily preventing folks from doing these trades.
- SirSavary 6y ago
  Should have clarified: Apple Inc sells me on a closed up device, which is fine. Some Apple loyalists explain to me that I don't know what I want and that Apple Inc's ideology is the one true way. Personally I have both an iPhone and an Android. Locked-down personal device and a customizable dev phone ¯\_(ツ)_/¯

yottalove 6y ago

This applies to Crypto as well. Negligible fundamentals. Negligible oversight.