Robinhood has lured young traders, sometimes with devastating results

Re:Robinhood has lured young traders, sometimes with devasta... by rmrfrmrf on Wednesday July 08, 2020 @05:30PM (#23774456)

trading is ok as long as the experience is convoluted and looks ugly? only people with a certain amount of wealth should be permitted to use aesthetically-pleasing interfaces? not sure what you're advocating for here.

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Re:Robinhood has lured young traders, sometimes with devasta... by ByteJockey on Wednesday July 08, 2020 @06:02PM (#23774677)

They're advocating for protecting people from themselves.

Which is kind of terrifying for a country with democratic input. If people can't be trusted with their own money, why should they be trusted to decide who controls the American nuclear arsenal?

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Re:Robinhood has lured young traders, sometimes with devasta... by ghaff on Wednesday July 08, 2020 @07:01PM (#23775196)

I don't totally disagree. But, at some point, "let people make whatever stupid decisions they want to make" turns into we should also be able to kick those stupid people into the gutter and abandon them.

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Re:Robinhood has lured young traders, sometimes with devasta... by ByteJockey on Thursday July 09, 2020 @11:28PM (#23787856)

I mean, yeah. It does. The fundamental assumption of all democracies are that the people are competent enough to govern themselves.

Ultimately, I'm not sure a free society, a welfare state, and universal suffrage can all co-exist in the long term.

I think any two could survive, but all three seem like a longshot.

I'm actually having trouble figuring out which two I'm rooting for.

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Re:Robinhood has lured young traders, sometimes with devasta... by kthxbye123 on Sunday July 12, 2020 @05:20AM (#23810073)

Actually they’re advocating for protecting people from predatory corporations that adversarially target and exploit their customers with weaponized psychology, bit of a difference

In a democracy, the people (and their legitimately elected representatives) are also allowed to structure markets and decide on what business practices are and are not allowed

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Re:Robinhood has lured young traders, sometimes with devasta... by enraged_camel on Wednesday July 08, 2020 @06:50PM (#23775093)

>>Which is kind of terrifying for a country with democratic input. If people can't be trusted with their own money, why should they be trusted to decide who controls the American nuclear arsenal?

With this analogy, I think you inadvertently supported the opposite argument: the nuclear arsenal itself is not democratically controlled. Rather, we elect someone who controls it (with several layers of checks and balances).

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Re:Robinhood has lured young traders, sometimes with devasta... by ByteJockey on Thursday July 09, 2020 @11:19PM (#23787819)

What's the check on the president hitting the button?

Is it just the willingness for military officials to follow the order? I'm pretty sure the president doesn't have to consult with congress or the supreme court before doing this.

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