Robinhood S-1 IPO • Hacker News Board

Re: Robinhood S-1 IPO

#41

Post by reidjs » Thu, Jul 01, 2021, 6:27 PM UTC

tofuahdude wrote: post #37

lame-robot-hoax wrote: post #17

“ A substantial portion of the recent growth in our net revenues earned from cryptocurrency transactions is attributable to transactions in Dogecoin. If demand for transactions in Dogecoin declines and is not replaced by new demand for other cryptocurrencies available for trading on our platform, our business, financial condition and results of operations could be adversely affected. For the three months ended March…

Anecdotal: My two under-18 cousins both described using their parent's credentials to buy Dogecoin on Robinhood. Great stuff driving Robinhood revenue right here.

Think of these meme stocks as baseball cards or pokemon for gen-z and everything starts to make sense.

Re: Robinhood S-1 IPO

#42

Post by paulpauper » Thu, Jul 01, 2021, 6:29 PM UTC

mulcahey wrote: post #18

I remember seeing their first public demo at LA Hacks in 2014. Seemed like a couple of kids right out of college. They had the iPhone's screen hooked up to the projector and one of their friends kept sending them silly text messages the whole time that they had to dismiss. This was before the Do Not Disturb feature came out. I remember wondering how it took so long for someone to make a half decent stock trading app…

good fonts, contrasting colors, and large buttons. UI is so important. never underestimate it

Re: Robinhood S-1 IPO

#43

Post by agumonkey » Thu, Jul 01, 2021, 6:29 PM UTC

ttul wrote: post #24

lame-robot-hoax wrote: post #17

“ A substantial portion of the recent growth in our net revenues earned from cryptocurrency transactions is attributable to transactions in Dogecoin. If demand for transactions in Dogecoin declines and is not replaced by new demand for other cryptocurrencies available for trading on our platform, our business, financial condition and results of operations could be adversely affected. For the three months ended March…

Dogecoin, created as a joke, is now in an S-1 as a material item.

after trump tenure this is the 2nd most absurdist fact about humanity the last 20 years to me

Re: Robinhood S-1 IPO

#44

Post by agumonkey » Thu, Jul 01, 2021, 6:30 PM UTC

reidjs wrote: post #41

tofuahdude wrote: post #37

Earlier quoted context omitted.

Anecdotal: My two under-18 cousins both described using their parent's credentials to buy Dogecoin on Robinhood. Great stuff driving Robinhood revenue right here.

Think of these meme stocks as baseball cards or pokemon for gen-z and everything starts to make sense.

10$ a good amount of defi is trying to sell a few finance tricks to teens through web-scale lingo

Re: Robinhood S-1 IPO

#45

Post by caymanjim » Thu, Jul 01, 2021, 6:30 PM UTC

lame-robot-hoax wrote: post #17

“ A substantial portion of the recent growth in our net revenues earned from cryptocurrency transactions is attributable to transactions in Dogecoin. If demand for transactions in Dogecoin declines and is not replaced by new demand for other cryptocurrencies available for trading on our platform, our business, financial condition and results of operations could be adversely affected. For the three months ended March…

What's most ridiculous about this level of crypto trading volume on Robinhood is that you don't even own the crypto you trade there. You can't use your own wallet, you can't transfer it to your own wallet. Robinhood holds it; you're just gambling on their holdings.

Re: Robinhood S-1 IPO

#46

Post by agumonkey » Thu, Jul 01, 2021, 6:32 PM UTC

paulpauper wrote: post #42

mulcahey wrote: post #18

I remember seeing their first public demo at LA Hacks in 2014. Seemed like a couple of kids right out of college. They had the iPhone's screen hooked up to the projector and one of their friends kept sending them silly text messages the whole time that they had to dismiss. This was before the Do Not Disturb feature came out. I remember wondering how it took so long for someone to make a half decent stock trading app…

good fonts, contrasting colors, and large buttons. UI is so important. never underestimate it

won't name them but other big exchanges phone apps are pretty nifty.. you can operate lot with a thumb it was a bit surreal

no advanced trading / charting / analytics but still quite surprising

Re: Robinhood S-1 IPO

#47

Post by granzymes » Thu, Jul 01, 2021, 6:32 PM UTC

Headline financials:

  FY Ended December 31, in millions except percentage and assets per user

                 |  2019  |  2020  |  YoY  
  ---------------|--------|--------|-------
  revenue        | $278   | $959   | 245%   
  op ex          | $384   | $945   | 146%   
  net income     | $(107) | $7     | (107)%   
 
  assets held    | 14,136 | 62,979 | 346%
  monthly users  | 4.3    | 11.7   | 172% 
  assets per user| 3,287  | 5,382  | 64%

Re: Robinhood S-1 IPO

#48

Post by rburhum » Thu, Jul 01, 2021, 6:33 PM UTC

I understand that many give Robinhood crap because it is not "sophisticated enough" or because of the Gamestop fiasco. Although many startups like to claim that they are "democratizing [x]", I honestly believe they did it. I have many friends that never traded before, and after they got their Robinhood account they feel comfortable enough to do it often. Even myself, who used to only trade a couple of times a year, started with $300 in my Robinhood account a few years back. Now I have at least ~60k that I rotate around in my Robinhood account on a daily/weekly basis. Yes there are other services that I now use or other apps that seems better, but for all intents and purposes, Robinhood did "democratize" trading for me.

Re: Robinhood S-1 IPO

#49

Post by cwkoss » Thu, Jul 01, 2021, 6:33 PM UTC

lame-robot-hoax wrote: post #17

“ A substantial portion of the recent growth in our net revenues earned from cryptocurrency transactions is attributable to transactions in Dogecoin. If demand for transactions in Dogecoin declines and is not replaced by new demand for other cryptocurrencies available for trading on our platform, our business, financial condition and results of operations could be adversely affected. For the three months ended March…

I find it interesting that Elon Musk has tweeted about Dogecoin several times in the past day, and his tweets no longer seem to be causing price spikes.

A lot of Cryptocurrency twitter is mad at him for his actions and statements on Bitcoin, I wonder if that has broken his ability to manipulate price with tweets.

If that's the case, probably a bad thing for Robinhood. But maybe people will come back around to him with time.

Re: Robinhood S-1 IPO

#50

Post by systemvoltage » Thu, Jul 01, 2021, 6:34 PM UTC

paulpauper wrote: post #42

mulcahey wrote: post #18

I remember seeing their first public demo at LA Hacks in 2014. Seemed like a couple of kids right out of college. They had the iPhone's screen hooked up to the projector and one of their friends kept sending them silly text messages the whole time that they had to dismiss. This was before the Do Not Disturb feature came out. I remember wondering how it took so long for someone to make a half decent stock trading app…

good fonts, contrasting colors, and large buttons. UI is so important. never underestimate it

I think the opposite - UI of Robinhood is awful. For example, to see a list of orders you’ve placed, you gotta interact with a fake chat box and it takes at least 15 seconds to see the last order.

Call me old school. TD Ameritrade and Charles Schwab has the best UI IMO.