I don’t know the long term story, but I don’t understand @RobinhoodApp
People shouldn’t day trade or pick stocks.
Long term, people should have diversified portfolios. So they are good if they become Wealthfront?
What am I missing?
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Replying to @tqbf
It seems really hot. Do people that think it is legit hot also think that? What is the generous read of the love for the app?
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The nicest thing I have ever heard anyone say about Robinhood was a young SFBA professional of my acquaintance: "It's a generational thing. But for RH I don't think *anyone* I know would own stocks. It was irrelevant to their lives until someone put a consumer-grade UI on it."
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I am frankly very, very skeptical of Robinhood; I think they make product and marketing choices which are irresponsible and which pessimize for their users' outcomes. But I will concede that that is an argument that feels colorable to me.
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If you can acquire a user base of reliable losers, you can take the other side off all their trades and come out in pretty good shape.https://support.robinhood.com/hc/en-us/articles/360001397126-What-s-Clearing-by-Robinhood- …
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Robinhood is not a counterparty to their users' trades. That is unambiguously incorrect.
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