(Personal opinion) You'd be very surprised by this announcement if you modeled Robinhood as a discount brokerage. You'd be less surprised if you modeled it as a gaming company. I think the second is, broadly, the correct mental model for Robinhood.https://www.bloomberg.com/news/articles/2020-04-16/robinhood-said-to-be-raising-new-funds-at-about-8-billion-value …
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That post was epic. Tangentially, I recall a certain someone making a convincing argument against dating posts. While posts no longer show the dates, your blog URLs are in betrayal
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I've taken steps to deemphasize the dates (you can still find them) but haven't ripped up my URL structure yet, mostly out of worrying what happens to the back catalog. I expect to do it eventually. Ironically my next essay will likely be very, very timeline sensitive.
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@patio11 Where's the evidence that they are getting people invested at low prices? I see good evidence that average retail traders are investing (vanguard ETF inflows while trading ETFs have outflows), but anecdotally seems RH users are YOLOing options -
If you believe RH users have net inflows right now in their 20s and 30s, and that they are not buying options, you should believe that they are buying assets at low prices relative to when they’ll retire. I am skeptical that that butters RH’s bread.
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Thank you for surfacing this post. I very much enjoyed it.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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