Apparently Charles Schwab just cut commissions to zero, which was always going to happen but feels plausibly sped up by RobinHood. (If you don’t understand why they could do that, c.f. https://www.kalzumeus.com/2019/6/26/how-brokerages-make-money/ … )
Not really? This has been coming for years, and IKBR targets a materially different market segment historically.
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I’d agree - IBKR’s app and marketing material seems inadequate for the relevant market segment. But there isn’t an abvious first mover advantage is cutting your own revenues, so the coincidental timing raised my eyebrows.
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Given the size they couldn’t possibly have come to organizational consensus on that in 4 days; I think it is a plan that has been discussed internally for years and which is happening now as opposed to 2021 because RobinHood is *sewing up* 20-35 year old professionals.
End of conversation
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