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People hate the gatekeeping but then complain when they get bitten by something they didn't understand. There's only so much you can boil this stuff down and if
by ziml77 6y ago
People hate the gatekeeping but then complain when they get bitten by something they didn't understand. There's only so much you can boil this stuff down and if they don't want gatekeeping then they need to accept personal responsibility when it turns out that they didn't know as much as they thought they did.
- chii 6y ago> they need to accept personal responsibility when it turns out that they didn't know as much as they thought they did. aka, RH is between a rock and a hard place - either the clueless user suicides due to poor understanding, and causing bad PR, or they do what they're doing now.
- sneak 6y agoOne is their fault (being misleading), the other is not (the user not understanding).
- rhizome 6y agoOr, you know, explain what's going on in the UI.
- nemothekid 6y agoI think RH makes things sufficiently clear. The problem is RH is just a shitty platform that is susceptible to these kinds of problems due to high volatility which forces them into a regulatory corner every once in a blue moon. I was a user when they had that suicide situation and RH did do a better job of explaining your actual balance when you entered a somewhat complex trade that caused you to have a negative balance. Still a user, who didn't know what he was doing, entered a complex trade, saw something he didn't understand and ended his life. In response Robinhood could have: 1. Made the UI "easier" to understand (i.e. lie) for 99% of situations 2. Raise the entry requirements to ensure people knew what they were doing (Gatekeep) They chose (and continue to choose) 1, and I don't envy them - how would ever explain all the ways a margin account can put you in trouble on a 4 inch screen? Most users only care about "instant deposits" and will never get into trouble 99% of time. It took 2 "black swan" events (IIRC, the first suicide issue was during the first COVID market crash) for these issues to come to light.
- 3np 6y agoExcept their UX is streamlining away things and essentially manipulating users to get higher conversion rates and engagement. As seems to be the norm among successfull apps today. Just that stakes on the user side are more immediate than with news and social media. They brought this onto themselves by optimizing for growth over healthy and sustainable markets.
- astura 6y agoCan you explain what specifically is manipulate about robinhood's ux? Maybe is me, but I don't find the ux of robinhood significantly different than the other brokerages I use (Fidelity and Merrill Edge).
- 3np 6y agoThis comes from someone who's of the opinion that manipulative dark UX patterns have been normalized - I have not used the competition you speak of, I wouldn't be surprised if they are similar. The marketing push for options by calling it "instant trading" is pretty BS too. https://webtransparency.cs.princeton.edu/dark-patterns/ https://webtransparency.cs.princeton.edu/dark-patterns/
- astura 6y agoI asked what specifically is manipulate about robinhood's ux, I am not really interested in an unrelated analysis of shopping websites.