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Robinhood now has a 1-Star rating on the Google Play Store

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Re: Robinhood now has a 1-Star rating on the Google Play Store

#101

Post by Kranar »

freeone3000 wrote: post #68
fennecfoxen wrote: post #52

Earlier quoted context omitted.

> though there are some reports that the stocks were bought on margin, which makes it more(?) okay, I guess? https://cdn.robinhood.com/assets/robinhood/legal/RHS%20Custo... 4. Liquidation. In the event of the death of the Customer, or in the event the margin in any account in which the Customer has an interest shall in either Robinhood’s or the Introducing Broker’s discretion become unsatisfactory to either Robinhood…

That's referring to margin specifically, not a held position. There's a difference between margin trading and holding the stock in your name.

The loophole here is that all new Robinhood accounts are margin accounts by default. You have to go through a process to switch from a margin account to a cash account and I suspect 95% of Robinhood's customers have no idea what the difference is or why they'd ever want to do that.

So Robinhood technically is allowed to do this as per the letter of the law, and now the question is whether Robinhood is violating any fiduciary duties they have to their customers.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#102

Post by Sohcahtoa82 »

jb775 wrote: post #50

Serious question: Since RobinHood is a private company, does the "if you don't like it, you can build your own platform" argument apply here? Or does that only apply selectively when it benefits partisan politics? This is the natural evolution when censorship as we've recently seen is given a pass.

There are dozens of trading platforms, and RH isn't the only major one that offers free trades.

I expect that a lot of RH users are going to do some research and discover that there are alternatives that are just as good, or even better.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#103

Post by guerrilla »

tinyhouse wrote: post #17
ArtTimeInvestor wrote: post #3

Just as I was wondering how many retail investors might be involved: https://news.ycombinator.com/item?id=25947674 From the number of Playstore votes it seems quite a few? Will be interesting to see if it stays that way. Or if they can somehow cheat their way out of it and get all recent ratings deleted or something. Any guesses?

My guess is that Google will get involved. It's not the first time a mob is trying to destroy the rating of an app. But their rating before all of this drama is not going to last; that's for sure.

By mob you mean the users who are justifiably upset the app is not working as expected by not allowing them to buy and forcing sales without user permission.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#104

Post by tikhonj »

remram wrote: post #43
cromka wrote: post #21

Earlier quoted context omitted.

Why would they? They just need spam protection. If legitimate, independent users vote them down in thousands then why would an app need a protection?

Steam (video game store) has separate "reviews" and "recent reviews" summaries, so you will see something like "reviews: mostly positive, recent reviews: overwhelmingly negative". It is often informative, as updates can make a good game unplayable, riddle it with microtransaction, or servers can go offline.

It also really helps in the opposite direction. Games that had release issues but fixed most of them have mediocre overall reviews but positive recent reviews, and I've found that's a pretty good sign that a game is worth trying. Without that separation, it would be much harder for the game to get over its rocky launch.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#105

Post by austincheney »

tinyhouse wrote: post #47
slenk wrote: post #29

Earlier quoted context omitted.

But the app is broken. They are not allowing you to buy shares. Why should an app that decides you can't buy certain shares, and they auto-sells some shares you own, be rated highly?

Because many people on social media encourage other people to give the app 1-point rating. That's something Google need to protect against. The poor rating should happen organically. But regardless, they are fucked.

While vote flooding via some confined social circle is a form of trolling I don’t think this case fits that criteria. This news isn’t limited to a subreddit. This news is everywhere, suggesting any vote flood is more likely natural and organic than not.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#107

Post by justapassenger »

ClumsyPilot wrote: post #78
tinyhouse wrote: post #47

Earlier quoted context omitted.

Because many people on social media encourage other people to give the app 1-point rating. That's something Google need to protect against. The poor rating should happen organically. But regardless, they are fucked.

Thousands (millions?) Of people lost money / opportunity because of the app. Then those people rate what they think of the app - that ir cannot be trusted to act in their interest. Why should Google protect them against consequences of their own decisions?

Do you expect that making money on the bubble should be quick and painless?

Re: Robinhood now has a 1-Star rating on the Google Play Store

#108

Post by rvnx »

Not only they cheated their own users, they also artificially manipulated the market and that eventually defrauded users of other brokers who legitimately expected a buy pressure coming from Robinhood users.

So, 1-star is even too much, jail time would be preferred.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#109

Post by Hamuko »

ckastner wrote: post #32
cromka wrote: post #21

Earlier quoted context omitted.

Why would they? They just need spam protection. If legitimate, independent users vote them down in thousands then why would an app need a protection?

What would be something positive about allowing mobbing?

I consider review bombing a legitimate form of boycott.

"BOYCOTT, the refusal and incitement to refusal to have commercial or social dealings with any one on whom it is wished to bring pressure."

Re: Robinhood now has a 1-Star rating on the Google Play Store

#110

Post by Miner49er »

jaywalk wrote: post #85
Miner49er wrote: post #26

Earlier quoted context omitted.

According to Motherboard it's more than half. https://twitter.com/motherboard/status/1354798244455395328 EDIT: This is untrue, please refer to jaywalk's reply.

Although they've left the tweet up, the article it links to says that this is incorrect: "Correction: An earlier version of this article stated that 56 percent of Robinhood users hold GME stock. This is incorrect, based on a misreading of a statistic on Robinhood. Motherboard regrets the error."

Ah, I was unaware, nice catch.
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