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Its a private company providing a service for FREE. YOU ARE THE PRODUCT. Just like twitter, they are allowed to control what happens on their platform, and they
by kart23 6y ago
Its a private company providing a service for FREE. YOU ARE THE PRODUCT. Just like twitter, they are allowed to control what happens on their platform, and they make no guarantee about reliability or free trade.
- darkwizard42 6y agoThis is not even accurate in the smallest sense. This is a brokerage firm. It is heavily regulated by financial law. They are not "allowed to control what happens on their platform." in the sense of Twitter. They have a fiduciary responsibility to their clients and the reliability of their platform is actually part of their ability to operate as a brokerage. The service being free or not has NO impact on the rules they operate under as a brokerage.
- hchz 6y agoSure, it's regulated, but which regulation states they have a fiduciary duty to you? Given they are currently arguing in court they have no such duty, but only to act in their customers best interest, perhaps this isn't sufficiently clear to them.
- kart23 6y agohttps://cdn.robinhood.com/assets/robinhood/legal/Robinhood%20Customer%20Agreement.pdf https://cdn.robinhood.com/assets/robinhood/legal/Robinhood%2... Read section 16.
- read_if_gay_ 6y agoIt is surprising how few people are arguing the “private company can do what they want” angle here. I wonder how the balance will look next time big tech bans a bunch of conservatives.