Robinhood launches its own trade-clearing system as customer growth surges

Cool stuff. It’s a shame honestly how bad we let retail trading get before Robinhood came along, especially when the true amortized cost of a trade is something like 0.000000001 cents in reality.

I’ll be glad to see these outdated bloated price gouging companies like Schwab, E-trade, and Ameritrade finally go bankrupt soon. Such poorly managed businesses wholly dependent on entrenched regulation and being existing incumbents shouldn’t succeed, and I’m glad to see somebody is finally taking them down.