Am I the only one who’s noticed RH releasing/announcing a ton of products recently? Seems like it was the same app for the most part till these changes came out Ex: Cash Card Stock lending enabled Raised APY to 1% Web3 wallet being rolled out soon Nice job robin hoods(?)!!
Agree OP, I am loving the new products and fancy UX. The hate will eventually die down hopefully. I just hope they find a more sustainable business model (Eg monthly subscription) and are aligned with user interest.
Great works! I love using it.
I Appreciate this thread
Cigarette Manufacturers release new products too, that doesn’t make them any less toxic. Robinhood betrayed its customers. It showed that when backed against a wall it will bow down to its hedge fund daddies instead of fighting for the consumer. No amount of new offerings will help Robinhood regain its reputation. Robinhood needs to stop payment for order flow and send its trades through lit exchanges, not dark pools. Robinhood needs to revise its user agreement and make sure that retail traders are protected.
At this point there has been enough coverage of this event that I can’t believe people still think this was some conspiracy. They had to meet deposit requirements on the trades being executed on their platform. If they had not done this they would have been breaking the law.
You don’t measure someone’s character when things are easy. It is only when you force someone to make difficult decisions that you get to see who they really are and what they value. A company the size of Robinhood could have quickly gotten a short term loan or negotiated to get a line of credit to cover the deposit requirements. They could have asked banks to process their customer deposits faster. They could have asked the cleaning house for additional time. They could have risked violating the law and taken the penalty to protect consumers. Ask yourself, do you truly believe that Robinhood did everything in their power to protect their customers? Why did they limit buy orders for WEEKS after the initial squeeze? They prioritized bailing out their Wall Street buddies. They decided to throw their customers under the bus. Now we, the customers, will punish them.