There will be a lot of talk about sueing, some of it will result in litigation, and probably a few people will have some of what they thought they had taken from them restored - but none of this will result in RobinHood, or any other company, becoming the frictionless, almost-free trading platform they imagined it was.
> the frictionless, almost-free trading platform they imagined it was
Maybe we all should stop to consider whether free & frictionless are worthwhile aspirations. Ice has a lot less friction than concrete but I certainly don’t want to walk to work on it.
Maybe a little bit of friction in our news, investments, social media, communications, etc. is a good thing. Give our brains a chance to digest information and let the intelligent & cooler minds prevail rather than impulsively smashing the share or downvote button.
The problem is that Wall Street has access to, if not free, practically frictionless trading in comparison to retail investors. If you add more friction to retail investors but not Wall Street it just compounds the problem.
You do realize most hedgefunds lose money and that active trading isnt as effective as just buying and holding shares in index funds. This is Warren Buffets famous bet.
What WH has democratized is now giving retail investors the opportunity to also lose money with active trading.
