Robinhood is for the general public. The general public has always been fleeced in the markets. Always. And always will be. Read any historical book on the markets, the public is getting fleeced. If you want to complain about execution or products or relationships you should get serious and become a trader, in which case you’ll immediately stop using Robinhood. If it makes you feel any better, almost every time you’re being fleeced there is a professional trader on the other side of the trade laughing at this dumb schmuck just giving their money away.
Indeed. For what it’s worth I don’t think Robinhood intentionally created a product that can serve its users up on a platter. Robinhood’s platform can still be used in a way that creates a lot of value for disciplined value investors with long time horizons so long as they are careful with their order types. I think they’re just not watching their blind spots in an industry that thrives off exploiting blind spots, and their efforts to grow their product are outpacing their efforts at being market savvy.
I also agree with this - maybe a hint of doubt is cast by their sketchy history w/ Plaid and collecting transactional data. But for the most part, I think Robinhood did open the doors to a new era of retail investment not accessible ever before. They've just been eaten by the very market they've helped create.
I think you nailed the sentiment well, basically blind spots in an industry that thrives off exploiting them.
