The SEC has proposed a new “predictive data analytics” (PDA) rule that would severely curb financial services firms from using technology to serve customers. @RobinhoodApp has voiced opposition, and I strongly stand behind it. This would have a major impact on investors. (1/7)
The SEC aims to protect investors with this rule, targeting "predictive data analytics" and AI. However, the rule is so broad, it would demand costly manual reviews on almost all tech applications, even basic things like color choices in app design and simple A/B testing. (2/7)
Nov 10, 2022 • 9 tweets • 2 min read
It’s business as usual at @RobinhoodApp
Despite SBF having an equity stake in Robinhood, we have no direct exposure to Alameda, FTX, or any of its entities, and we've confirmed with our partners that they don't have material exposure either.
Apr 14, 2022 • 12 tweets • 3 min read
Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take.
First off, transaction fees have to be vanishingly small. We’re already there. As of last Nov’s 1.14.5 update, typical transaction fees have been ~$0.003 - which you can experience on @robinhoodapp - compared to the 1-3% network fees that major card networks charge.
Mar 29, 2022 • 9 tweets • 2 min read
The future of investing is 24/7. @RobinhoodApp is working towards offering 24/7 equities trading, and today, we’re taking a step towards that goal. (1/9)
Robinhood brought millions of new investors into the markets by eliminating trading commissions and account minimums, and by popularizing fractional shares, which made companies with high share prices accessible to all. (2/9)
Jul 29, 2021 • 11 tweets • 2 min read
Today, as @RobinhoodApp goes public on @Nasdaq, we celebrate a new generation of investors that make Robinhood what it is.
When I was five years old I came to this country from Bulgaria, arriving at JFK airport. My co-founder Baiju’s parents were also immigrants, arriving in America from India shortly before he was born.
Apr 17, 2021 • 5 tweets • 1 min read
At Robinhood, the rich don't get a better deal. (1/5)
We founded Robinhood in the wake of the financial crisis because we identified a gap - the more you had, the better deal you got. (2/5)
Feb 10, 2021 • 11 tweets • 2 min read
I asked earlier if high-frequency trading is evil. I did so because it’s clear to me that the mechanics of investing are not well understood. (1/11)
We are publishing an occasional series of posts that I hope will inform, educate, and maybe entertain, on occasion. Let’s start with High Frequency Trading and PFOF. Both much misunderstood. robinhood.engineering/what-exactly-i… (2/11)
Feb 4, 2021 • 10 tweets • 1 min read
We’re experiencing one of the greatest financial transformations our country has ever seen. (1/10)
Transforming an industry from the inside takes determination, hard work, investment, and a laser focus on the people we want to serve. (2/10)
Feb 2, 2021 • 9 tweets • 2 min read
It’s time for T+2 to go. (1/9)
Last week we saw the impact the two-day trade settlement period has on investors and ultimately the entire American financial system. Clearinghouse deposit requirements skyrocketed overnight. (2/9)
Jan 28, 2021 • 10 tweets • 2 min read
I want to thank everyone for their patience and support. While today’s developments are not new, they are never easy.
Our customers and our mission to increase access to investing remain our priority. That will never change. I am proud of all our staff for putting their heads together and working to immediately communicate to our customers what was going on.
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