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Anecdotal: My two under-18 cousins both described using their parent's credentials to buy Dogecoin on Robinhood. Great stuff driving Robinhood revenue right he
by tofuahdude 5y ago
Anecdotal:
My two under-18 cousins both described using their parent's credentials to buy Dogecoin on Robinhood. Great stuff driving Robinhood revenue right here.
- reidjs 5y agoThink of these meme stocks as baseball cards or pokemon for gen-z and everything starts to make sense.
- agumonkey 5y ago10$ a good amount of defi is trying to sell a few finance tricks to teens through web-scale lingo
- deleted 5y ago[deleted]
- Apocryphon 5y agoIs NFT support coming soon to Robinhood?
- slg 5y agoThis is true at the level of basic buying and selling. However that isn't all that is happening with Robinhood. One of Robinhood's "innovations" was making it easier for novices to engage in more complicated trading including buying on margin, short selling, etc. This allows people to lose more money than they initially invested. A kid in the 90s wouldn't be buying Pokemon cards on credit with the potential to literally bankrupt themselves or their parents.
- mym1990 5y agoRobinhood has also gamified the trading experience. Once a day I get a push notification with something like "here are the day's biggest movers, hop on the train before it's too late!" and its essentially playing to that addictive quality that short term trading can have.
- LeapingPanda 5y agoExactly. A push notification like that is preying on the fear of missing out (FOMO), which is completely at odds with proper assessment and risk management.
- bee_rider 5y agoImagining an IPO for a company that enabled baseball card and pokemon transactions has not helped me make sense of this situation.
- deleted 5y ago[deleted]