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Re:Robinhood Making Millions Selling Out Their Millennial Cu... by wahern on Monday September 10, 2018 @11:53PM (#17957067)
Yeah, I don't see the problem. Unless and until customers are manifestly paying exorbitant effective fees compared to typical brokers, there's nothing to be upset about and little reason to intervene.

Transparency is concerning (as are all pricing strategies that try to hide the ball), but in the world of finance this doesn't rank very high in the opaqueness department. As you say, if you're not the customer you're the product. Especially in the context of a service that is actually performing real-world, meaningful transactions on your behalf (as opposed to publishing funny comments to internet memes), you have to be hopelessly naive to believe you're not remunerating them with your own money.

There are plenty of hopelessly naive people out there, but you don't slap down a business strategy simply because it could steal from these people. You wait around until its clear the harms outweigh the benefits, otherwise the market in every product or service would be limited to minimizing the potential harm to the dumbest among us.

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