News for hackers. Stuff that matters.

A comment on Robinhood to pay $70M for 'systemic supervisory failures'. Parent comment

Re:Robinhood to pay $70M for 'systemic supervisory failures' by colordrops on Wednesday June 30, 2021 @01:29PM (#27691218)
It wasn't that surprising - they just went after a new market, that being those who rarely if ever did any sort of investment or trading.
[ Parent | on HN ]
Re:Robinhood to pay $70M for 'systemic supervisory failures' by tobinfricke on Wednesday June 30, 2021 @01:40PM (#27691361)
It's not really an entirely new market, but definitely a "second wave" attempt to capture that market.

Back in the Web 1.0 boom, seemingly dozens of online brokerages (ETrade, Ameritrade, Scottrade, etc) sprang up overnight to fuel easy consumer access to the "meme stocks" of the day (Pets.com, Yahoo, etc).

Those are the new legacy players and I guess Robinhood is the new generation.

[ Parent | on HN ]