On: Robinhood was indeed too good to be true

[rabbut]

> This tale also illustrates the point that you can move companies from Wall Street to Silicon Valley, and replace cynical baby boomers with optimistic millennials (Robinhood’s co-founders are in their mid-30s) who issue rousing mission statements, such as Robinhood’s promise to “democratize finance for all,” but ultimately the underlying math does not change. Sometimes, a business decides that its fortunes may diverge from those of its customers. Caveat emptor.

This was completely unnecessary, but true.

And now, please permit me a hearty laugh at the expense of millennials...

LOLOLOL

However, I know people that have used robinhood, I’m upset that they were affected, and I don’t blame millennials.

[saalweachter → rabbut]

I'm honestly just thrilled they correctly labeled millennials (as opposed to conflating them with Gen Z).