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Correct - Robinhood's _marketing_ was "we'll democratize finance". Robinhood's _purpose_ was to sell order-flow information to the hedge funds. Retail investo
by variaga 6y ago
Correct - Robinhood's _marketing_ was "we'll democratize finance".
Robinhood's _purpose_ was to sell order-flow information to the hedge funds. Retail investors were never the customer, always the product.
This is like a mouse complaining about the "irony" of a mousetrap abandoning its mission of cheese-distribution.
- scruple 6y agoLike Facebook and Google's users, Robinhood's clients are the product. They've now learned that truth the hard way.