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An Update from Robinhood’s Founders

blog.robinhood.com

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Re: An Update from Robinhood’s Founders

#11

Post by triceratops »

dickjocke wrote: post #9
rhizome wrote: post #5

Is every bitcoin company run by ex cellphone store employees? Just the exchanges?

Robinhood isn't a bitcoin company. That's just a feature they have. Its main product offering is the commision free trading--and their presence pushed a lot of big players to adopt the same offering. The wallstreetbets gang is silly and all, but I think they have really democratized stock trading, and made the whole idea seem much more accesible. I think they founders are former finance guys. I hope this doesn't soun…

> I think they have really democratized stock trading

I would think Vanguard did that already. Most people should be trading ETFs, not individual stocks.

Re: An Update from Robinhood’s Founders

#14

Post by ska »

0xy wrote: post #8

Still silence on the traders who lost tens of thousands of dollars? Are they going to be compensating or not? This blog post doesn't appear to say anything. It's not an apology, it's not an explanation, it doesn't say what they're going to do in response. This is after the incident in which there was no status updates or support availability for multiple hours of time. Why can't they commit to updates every hour or e…

I agree the level of feedback isn't great, but what would people be compensated for? Did they misplace actual orders?

Re: An Update from Robinhood’s Founders

#16

Post by ska »

triceratops wrote: post #11
dickjocke wrote: post #9

Earlier quoted context omitted.

Robinhood isn't a bitcoin company. That's just a feature they have. Its main product offering is the commision free trading--and their presence pushed a lot of big players to adopt the same offering. The wallstreetbets gang is silly and all, but I think they have really democratized stock trading, and made the whole idea seem much more accesible. I think they founders are former finance guys. I hope this doesn't soun…

> I think they have really democratized stock trading I would think Vanguard did that already. Most people should be trading ETFs, not individual stocks.

That's a separate issue I think. They obviously do different things.

Re: An Update from Robinhood’s Founders

#18

Post by crystaldev »

0xy wrote: post #8

Still silence on the traders who lost tens of thousands of dollars? Are they going to be compensating or not? This blog post doesn't appear to say anything. It's not an apology, it's not an explanation, it doesn't say what they're going to do in response. This is after the incident in which there was no status updates or support availability for multiple hours of time. Why can't they commit to updates every hour or e…

> This blog post doesn't appear to say anything. It's not an apology, it's not an explanation, it doesn't say what they're going to do in response.

On the advice of any good lawyer.

Re: An Update from Robinhood’s Founders

#20

Post by dilly_li »

Start from the email notification. They have been asking themselves the easy questions.

Just look at the top questions in their email:

* Are the funds in my account safe? Yes, your funds are safe.

* Was my personal information affected? No, your personal information was not affected.

* Can I use my Robinhood debit card? Yes. If you have a debit card, you should have been—and should still be able to—use your card, but you may have had issues receiving notifications, viewing your balance, and seeing transactions in your app.

------------

The real question is: How is Robinhood compensating for the missed trades?

Stop asking yourself the easy questions, RH.

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