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I know very little about him but was initially intrigued because he’s often referred to as a “good guy” with altruistic motives who also isn’t afraid to call ot
by kbos87 6y ago
I know very little about him but was initially intrigued because he’s often referred to as a “good guy” with altruistic motives who also isn’t afraid to call others out.
Then I saw him on CNBC in the midst of the GameStop fiasco, railing against Robinhood on the premise that people should be outraged because Robinhood almost ran out of money and had to restrict trades.
Whether or not that’s something to be outraged about is one question. What turned me off is that he seemed to be completely ignoring parts of the story, instead finding new angles to throw on the fire to keep people riled up. The whole thing was a major red flag for me.
- nrmitchi 6y agoWhat you're describing here is, unfortunately, very similar to the Trump playbook. And is something to be very wary of in the future.
- ffggvv 6y agohe also invests in a company called SoFi which does the same thing as robinhood and makes their money the same way that robinhood does (payment for order flow) which he was railing against.
- 0xy 6y agoIf Robinhood was up-front with users there would be no issue, but they lied. They never mentioned liquidity issues when blocking trades. Several brokerages were capitalised well enough to allow GameStop trades, Robinhood wasn't because of incompetence and/or malice. This isn't their first blunder, remember when they tried to create bank accounts with zero insurance because their legal and/or executive team is incompetent?