This is interesting in that it provokes the question of what an app's rating "means". Clearly, if you were getting the app because you expected to be able to trade GME and you can't, then this is a good signal not to get the app. But not all "protest votes" of this sort may be equally good signals.
Robinhood now has a 1-Star rating on the Google Play Store
181–190 of 547 posts
Re: Robinhood now has a 1-Star rating on the Google Play Store
#182Earlier quoted context omitted.
Anti-trust law is a far cleaner way to approach that, with far fewer unintended consequences.
Yea, because that's been working great thus far.
You can't really say antitrust hasn't been working when no one has been using it. The laws are fine if we have the will to apply them.
Re: Robinhood now has a 1-Star rating on the Google Play Store
#183Earlier quoted context omitted.
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 f…
But how many of the accounts have larger positions in GME than equity? It doesn't make sense to margin call or liquidate someone who is good for the whole amount. Also if someone has some leverage it's not reasonable to liquidate them completely.
This is exactly why people should be outraged. The type of risk that requires a margin call isn't present by just holding long positions in a security. Unless you are trading options or selling short, your equity is equal to your positions, and no margin call should be necessary.
They are literally using the margin call mechanic to force closures in positions that have no risk.
Re: Robinhood now has a 1-Star rating on the Google Play Store
#184Citadel reloaded shorts before RH cut off gme and the rest https://twitter.com/justinkan/status/1354853920762253315?s=2...
Virtually every large multistrat fund is short GME now. This doesn’t really mean anything.
Re: Robinhood now has a 1-Star rating on the Google Play Store
#185Can someone who knows more about such things than I explain to me why their weird response to the situation (halting buying, but still permitting selling) was deemed by them to be the best of their options (the other two obvious ones being to temporarily stop dealing in those securities entirely (halting buying and selling), or to continue letting people trade them as they had the previous day)? It's confusing to me.…
My understanding is that Robinhood didn't actually block these purchases but rather the service they use to buy/sell stocks blocked it called Citadel So it's not Robinhood, persay, but rather Citadel. Why did Citadel block purchasing of GME stock? Because Citadel just invested 2 billion dollars in Melvin Capital Management; one of the hedge funds that has a lot to lose as long as the GME stocks keep going up.
That's the rumor but there's no evidence to back it up. Melvin could've closed their GME positions days ago, in which case Citadel wouldn't be on the hook for any further price changes.
Re: Robinhood now has a 1-Star rating on the Google Play Store
#186Earlier quoted context omitted.
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.
If Amazon did this, then it would solve the problem of grandfathered reviews from years ago being used to promote completely different inferior products. It would have saved me hundreds of dollars worth of returns.
But Amazon has no incentive to do so, because they would sell less items. Maybe with Steam the target market of gamers can direct so much more backlash towards something that doesn't work than the general audience of Amazon.
Re: Robinhood now has a 1-Star rating on the Google Play Store
#187I had already transferred all my stocks from Robinhood to my company provided Fidelity account sometime back after reading about their shady practices last year:
Re: Robinhood now has a 1-Star rating on the Google Play Store
#188One of the good things I see coming out of Robinhood blocking trading, Twitter and Reddit booting problematic users, Parler getting vaporized, etc. is a sudden realization amongst people of just how easily major parts of their lives can be instantly turned off by intermediaries. My hope is that this will drive a reformist movement around digital rights (speech, commerce, etc.) As well as a movement from platforms to…
Every time I mention this on Hacker News, I get downvoted by the neoliberal fascists that want to suppress the speech they feel comfortable with silencing. Free speech is only free if we allow all of it. Americans have thick skin. It's in our culture. We've accomplished so much in spite of internal disagreement and oppression: voting rights, women's rights, gay marriage (which still isn't enshrined in the constitutio…
> Go move to another country that isn't America so you don't have to listen to people you disagree with.
Wew lad.
Also do you actually know what a neoliberal is?
Re: Robinhood now has a 1-Star rating on the Google Play Store
#189One of the good things I see coming out of Robinhood blocking trading, Twitter and Reddit booting problematic users, Parler getting vaporized, etc. is a sudden realization amongst people of just how easily major parts of their lives can be instantly turned off by intermediaries. My hope is that this will drive a reformist movement around digital rights (speech, commerce, etc.) As well as a movement from platforms to…
What is your hope for reforming the ability of a single person to keep repeating a lie and nearly causing an insurrection?
Re: Robinhood now has a 1-Star rating on the Google Play Store
#190Earlier 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?
Excellent point. This vote-mob isn't due to some extraneous BS like some other ones, it's a response to an unexpected and customer-hostile service restriction.
I don't see how anyone could trust Robinhood with their money in the future.