Robinhood to pay $70M for 'systemic supervisory failures'

Re:Robinhood to pay $70M for 'systemic supervisory failures' by andrewmutz on Wednesday June 30, 2021 @05:08PM (#27693434)

If consumers are not willing to pay for the product, it makes sense that they would not get good customer service. The users are not customers of Robinhood or Google. The users are the product that Google sells to advertisers and Robinhood sells (in the form of data) to hedge funds and HF traders.

Schwab and Fidelity can deliver a good product with good customer service because users pay money for the product and are actually customers.

[ Parent | on HN ]

Re:Robinhood to pay $70M for 'systemic supervisory failures' by mixmastamyk on Wednesday June 30, 2021 @09:22PM (#27695402)

I've paid close to nothing to Schwab for decades. They even refund my ATM fees. Of course, I assume they take a bit off the top from money market accounts, etc on large balances.

They were one of the early companies that learned that treating your customer right is a better long-term business than screwing them at every opportunity. Wasn't so common in the 80s and 90s.

[ Parent | on HN ]