Making investment decisions from your iPhone is pretty silly. Building an app exactly for this purpose is damn dangerous.
They also say +80% of their early adopters are under 30. I wonder how many are underage?
They also say +80% of their early adopters are under 30. I wonder how many are underage?
"Ditching fees has led to 80 percent of beta users being under the age of 30."
And " Engagement looks promising. Fifty percent of customers who’ve made a trade come back every day, and 90% come back every week."
But both of these are rendered meaningless by: "Robinhood is still in friends and family private beta"
That aside, if "coming back" means making additional trades... that lends support to the idea that that this kind of super-simplified trading encourages hasty trades that aren't thought out.
And of course, that's the choice of people making those trades - but it seems to me that it's going to lead to some bad publicity for robinhood not too far down the road.
At that moment you'd be saying "damn, I wish I an app where I could short apple ASAP".