Robinhood raises $323M at a $7.6B valuation

Re:Robinhood raises $323M at a $7.6B valuation by almost_usual on Monday July 22, 2019 @02:35PM (#20500860)

It's everyone's right to shoot themselves in the foot with dumb financial decisions. Robinhood isn't doing anything egregious here, they're only reducing friction and fees.

I've used the app sparingly in the past with "fun money" but haven't done serious investing with it.

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Re:Robinhood raises $323M at a $7.6B valuation by elliekelly on Monday July 22, 2019 @02:38PM (#20500909)

> It's everyone's right to shoot themselves in the foot with dumb financial decisions.

The industry regulations would indicate otherwise. Generally, the “dumber” the money, the more regulatory protections that will apply. At their core, financial regulators are consumer protection entities.

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Re:Robinhood raises $323M at a $7.6B valuation by bduerst on Monday July 22, 2019 @02:52PM (#20501068)

Not really - the regulations are more or less in place to try to soften the impact of the dumb decisions (when they do happen), not to remove the freedom to make said dumb decisions.

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Re:Robinhood raises $323M at a $7.6B valuation by almost_usual on Monday July 22, 2019 @02:50PM (#20501052)

Nothing is stopping anyone from putting their life savings into a legal dumb investment. Regulators and the government sure won't stop you from liquidating your 401k early. At some point common sense comes into play and you need to be smart with your money.

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Re:Robinhood raises $323M at a $7.6B valuation by mywittyname on Monday July 22, 2019 @05:08PM (#20502341)

The US SEC has accredited investor requirements specifically to keep people from being fooled into making "dumb" investments.

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Re:Robinhood raises $323M at a $7.6B valuation by almost_usual on Monday July 22, 2019 @05:31PM (#20502516)

>US SEC has accredited investor requirements specifically to keep people from being fooled into making "dumb" investments

What stops me from liquidating my 401k and investing all of my money into a company that misses their earning goals this week? Where does the US SEC come into play here?

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Re:Robinhood raises $323M at a $7.6B valuation by LanceH on Monday July 22, 2019 @02:52PM (#20501067)

How is robinhood any different than all the other online brokers, except that they charge less?

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Re:Robinhood raises $323M at a $7.6B valuation by jazzyjackson on Monday July 22, 2019 @03:28PM (#20501443)

Do other brokers let you trade on margin?

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Re:Robinhood raises $323M at a $7.6B valuation by tick_tock_tick on Monday July 22, 2019 @04:50PM (#20502207)

Absolutely

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Re:Robinhood raises $323M at a $7.6B valuation by alrehn on Monday July 22, 2019 @03:43PM (#20501579)

Yes

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Re:Robinhood raises $323M at a $7.6B valuation by webninja on Tuesday July 23, 2019 @11:10PM (#20512115)

You can still legally bet your whole life savings on one spin of the roulette wheel. Here’s a guy that did just that:

https://youtu.be/zGCdBsOIKYA

Doesn’t mean you should though. Also Vegas doesn’t have the reputation for capital preservation and growth that brokerages have.

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