I'm curious why this alone is such a problem? This is substantially better than many other companies at IPO.
There's no magical formula, tons of people like to put money on unprofitable companies that have a lot of hype and tell you a good story about their mission. For me, I look for companies that are making money today, that have a good earnings rate of growth relative to their p/e ratio, and a business that I understand.
Robinhood is not that. It could be that in the future when I revisit it in a couple quarters or more, but it's not for me.
Hence why I'll pass on this one.