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A comment on Robinhood Will Retool Checking Product Following Scrutiny.

Re:Robinhood Will Retool Checking Product Following Scrutiny by talltimtom on Sunday December 16, 2018 @06:20AM (#18692644)
Why is everyone acting like robinhood stole people’s money or destroyed people’s lives? They wanted to make a product that would have been incredible value for costumers, got yelled at by the existing market and are now retooling to see if they can still put it out another way. No one has been hurt and they are just pushing forwards to get this out.

You guys make it sound like they sold people’s private info to undercut the democratic process or killed innoscent people by putting untested self driving cars on the road.

[ Parent | on HN ]
Re:Robinhood Will Retool Checking Product Following Scrutiny by gus_massa on Sunday December 16, 2018 @09:55AM (#18693269)
> They wanted to make a product that would have been incredible value for costumers

It was nothing new or groundbreaking, it was just a checking account with an unusual high interest rate.

The government inurement don't like that because there are two usual cases of unusual high interest rate:

* plain scams

* overoptimistic bank managers that can't pay the interest rate when they are due.

Sometimes it's difficult to distinguish the cases.

[ Parent | on HN ]
Re:Robinhood Will Retool Checking Product Following Scrutiny by mikeash on Sunday December 16, 2018 @12:05PM (#18693892)
They tried to obtain people’s money under false pretenses. The fact that their scam failed doesn’t make it ok.
[ Parent | on HN ]
Re:Robinhood Will Retool Checking Product Following Scrutiny by dragonwriter on Sunday December 16, 2018 @12:18PM (#18693958)
They almost certainly got people to give personal info for signups and referrals based on the waitlist and referrals move you forward in line announcement; so it's not just trying to get things of value under false pretenses.
[ Parent | on HN ]