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Robinhood is cutting jobs, reorganizing teams, and focusing on credit cards to solve a shrinking user base, insiders say (www.businessinsider.com)
submitted 2 years ago by [M, B] to c/technology@lemmy.world
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Robinhood is cutting jobs, reorganizing teams, and focusing on credit cards to solve a shrinking user base, insiders say::Robinhood is reorganizing and its future in credit cards was discussed in all-employee meeting, insiders say.

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[–] 92 points 2 years ago (4 children)

I'd probably still be using Robinhood if they hadn't fucked everyone over with GME. They deserve to fail after what they pulled.

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  • [–] 29 points 2 years ago

    I believe in that particular case the blame most likely lay with the private equity firm that owned Robinhood, which stood to take huge losses if the short squeeze had worked.

    Doesn't change your point though, burn the motherfuckers down even if they are only a goon for the real villain.

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  • [–] -3 points 2 years ago*

    OR - and hear me out here - the stock market was flooded with retail investors who all thought they were geniuses during a bull market, then as the market flatlined over the last 2 years, suddenly left the market as reality set in and those retail investors learned they weren't outsmarting the market.

    I mean, Robinhood went public 2 years ago. GME short squeeze was six months prior. I'd attribute Robinhood losing users two and half years later would more likely be the market cooling - just as Schwab and TD Ameritrade have seen. (TD was just bought by Schwab , BTW).

    The stock market is a lot bigger than one blip stock event nearly three years ago. On Wall Street, 24 hours is a lifetime.

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