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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
Verified account
@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    Austen Allred‏Verified account @AustenAllred Apr 4

    LMAO Robinhood replaced “buy call” and “buy put” with “going up” and “going down,” because they know people have no idea how to trade optionspic.twitter.com/Ncxo2JcO7F

    8:57 AM - 4 Apr 2018
    • 553 Retweets
    • 2,554 Likes
    • Andre Arceneaux Mi'sen COYS Young FinTwit 💥 Matt Saracen raphael John Dulin Pedro Castilho Taimur
    106 replies 553 retweets 2,554 likes
      1. Austen Allred‏Verified account @AustenAllred Apr 4

        Also they call July calls that are 10% out of the money “medium risk” lolol

        8 replies 10 retweets 158 likes
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      1. New conversation
      2. Viktor Bunin‏ @ViktorBunin Apr 4
        Replying to @AustenAllred

        Seriously? This is called a good user experience. Crypto has no place for gatekeeping.

        3 replies 0 retweets 32 likes
      3. Austen Allred‏Verified account @AustenAllred Apr 4
        Replying to @ViktorBunin

        ...this isn’t crypto

        2 replies 0 retweets 88 likes
      4. Viktor Bunin‏ @ViktorBunin Apr 4
        Replying to @AustenAllred

        You're right, that's my mistake. Too caught up in Robinhood rolling out crypto trading. Regardless, demistifying complexity or unintuitive nomenclature is good UX. A person doesn't have to know the technical title to have an opinion of the underlying reality.

        6 replies 0 retweets 102 likes
      5. Josh Thanksgiving Dance 🍁 🌽  🦃 🧣 🍽️‏ @JoshDance Apr 4
        Replying to @ViktorBunin @AustenAllred

        true but a lot of people might lose their shirts on this. Making something complicated easier is great if the risk is understood. Previously the risk was behind a high learning curve. Now it is in plain sight.

        2 replies 1 retweet 64 likes
      6. Viktor Bunin‏ @ViktorBunin Apr 4
        Replying to @JoshDance @AustenAllred

        That's a really great point and I agree. However, I think the same could be said about how prior financial investment opportunities were unavailable to the public (like equities) but are now commonplace. Additionally, these are puts and calls, not naked shorts, so less $ at risk.

        2 replies 0 retweets 15 likes
      7. Austen Allred‏Verified account @AustenAllred Apr 4
        Replying to @ViktorBunin @JoshDance

        These are out of the money calls recommended as “medium risk,” where there’s probably a 50%+ chance you lose 100%. Quite a bit different IMO

        6 replies 0 retweets 71 likes
      8. Viktor Bunin‏ @ViktorBunin Apr 4
        Replying to @AustenAllred @JoshDance

        Yeah I see your point. It actually makes me really nervous that they guage investment risks like that because the consumer will incorrectly rely on them to inform their investment decisions. That's a pretty big red flag that, while increasing their fees, can cost people big.

        1 reply 0 retweets 13 likes
      9. kevin lochner‏ @klochner Apr 5
        Replying to @ViktorBunin @AustenAllred @JoshDance

        This was a shockingly reasonable discussion for Twitter. Well done guys 👍

        3 replies 0 retweets 70 likes
      10. 3 more replies
      1. New conversation
      2. Benjamin Lim‏ @benjalimm Apr 4
        Replying to @AustenAllred

        Can you sell calls and puts on Robinhood?

        1 reply 0 retweets 2 likes
      3. Austen Allred‏Verified account @AustenAllred Apr 4
        Replying to @benjalimm

        Only if you own the equivalent amount of shares. I’m a little sad you can’t sell naked calls lolol

        3 replies 0 retweets 36 likes
      4. Benjamin Lim‏ @benjalimm Apr 4
        Replying to @AustenAllred

        Dat unlimited downside tho

        2 replies 0 retweets 6 likes
      5. 1 more reply
      1. New conversation
      2. Stephen Corwin‏ @Stephen_Corwin Jun 4
        Replying to @AustenAllred

        Don’t you run a school dude? Valley tonedeafness at its finest.

        1 reply 0 retweets 0 likes
      3. Austen Allred‏Verified account @AustenAllred Jun 4
        Replying to @Stephen_Corwin

        Yeah I do, and I still don't think people should be buying calls and puts until they know which one is "up" and which one is "down"

        0 replies 0 retweets 3 likes
      4. End of conversation
      1. New conversation
      2. Qlearly‏ @QlearlyHQ Apr 5
        Replying to @AustenAllred @m_rlons

        That’s an interesting move! I’m sure they are realizing that they got a lot of invites, and not many people are actually using it yet. But this wording might hurt their credibility among bigger investors which is a bit unfortunate, these new tools ‘should’ have done the opposite

        1 reply 0 retweets 1 like
      3. WaterBearAttack‏ @StudioSpicy Apr 5
        Replying to @QlearlyHQ @AustenAllred @m_rlons

        This is a screenshot form the educational tab I believe. Proper verbiage on the real platform.

        1 reply 0 retweets 0 likes
      4. Austen Allred‏Verified account @AustenAllred Apr 5
        Replying to @StudioSpicy @m_rlons

        Nope. Go to ticker then trade options, that’s what you see on every one

        0 replies 0 retweets 1 like
      5. End of conversation
      1. New conversation
      2. Richard Burton‏ @ricburton Apr 4
        Replying to @AustenAllred

        Great design.

        2 replies 0 retweets 6 likes
      3. Brendan from Dharma‏ @bpforster24 Apr 4
        Replying to @ricburton @AustenAllred

        🤔 not sure I agree. Seems like they’re choosing friendly words to mask risk ... wouldn’t it be better to put a link to educational materials (even just the simple put and call payout graphs) and teach users, rather than obfuscate the (very real) risk?

        3 replies 1 retweet 16 likes
      4. Richard Burton‏ @ricburton Apr 4
        Replying to @bpforster24 @AustenAllred

        Fair point. I guess what I mean is: I have never fully understood those terms until now. At least I would know what I am betting on.

        1 reply 0 retweets 7 likes
      5. Fred Kang‏ @fredkang Apr 4
        Replying to @ricburton @bpforster24 @AustenAllred

        But you don't really. Those terms are oversimplified - it hides complexity that is unfortunately necessary to understand the risk. That's the danger with this design approach

        5 replies 1 retweet 14 likes
      6. Richard Burton‏ @ricburton Apr 5
        Replying to @fredkang @bpforster24 @AustenAllred

        That’s totally fair. I am absolutely willing to admit I have no clue when it comes to trading. I just find aliens who run cults and go all in every time 😅😅😅 It has worked so far but it is not recommended.

        0 replies 0 retweets 3 likes
      7. End of conversation

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