You'd be very surprised by this announcement if you modeled Robinhood as a discount brokerage. You'd be less surprised if you modeled it as a gaming company.
I think the second is, broadly, the correct mental model for Robinhood.
bloomberg.com/news/articles/…
Maybe brokerages are not just fuddy-duddy with respect to their marketing approaches. Maybe they are *also* insufficiently quick to react to the economic environment and perform their social purpose, which is getting people invested at rather low prices.
And you could therefore be proud of e.g. working at Robinhood in a way that you would not be proud of working at e.g. MGM.
"Sweet! Competing entertainment options are getting crushed. MGM is literally closed. Our customers are stuck at home and some have increased risk appetite."
"#%()#% me (#%))#% me (#%)%#( me net interest margin drives this business and that relies on taking customer deposits and investing them almost risklessly. That word 'almost' is a scary word now!"
kalzumeus.com/2019/6/26/how-…