The suicide of a 20 year old who was using the popular trading app Robinhood has set off alarm bells...
We’ve had this write-up in some various mental states floating around for a while, and better done than perfect. So treat this as a core idea to be fleshed out later.
Payments and banking companies should be looking at how people purchase and store digital goods and digital currency in video games. That experience has been polished over 40 years, and is what will be the default expectation for future generations.
For those interested, here is a website that collects user experiences of shopping across hundreds of designs.
Luxury and fashion markets are structurally different from finance or commodity markets in that they seek to limit supply in order to generate value. This increases price and social status. We can analogize these brand dynamics to what is happening in NFT digital object markets and better understand their function as a result.
We’re not cool. That’s why we’re in finance.
But people want to be cool. As highly social and intelligent animals, we want and need to belong, differentiate against each other, and negotiate for status. We create signals and hierarchies to create pockets of relational capital, which we then cash in for real world benefits.
Such mammalian realities are contrary to the economic rendering of the homo economicus, the abstracted rational agent making choices in financial models. In 2021, our financial models are waking up and instantiating themselves, becoming Decentralized Autonomous Organizations (DAOs), spun up by DeFi and NFT industry insiders, and implemented into commercial actions onchain.
Curve is rolling out Curve Credit for employees to test Are fintech furloughs going to continue beyond June? BankThink Why...
In episode 21 I talk with Martin Sokk and Mihkel Aamer of Lightyear. Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
Speaking on a panel at SoFi’s San Francisco offices designers from leading fintech companies talked about how they increase engagement...
I was excited about Robinhood’s announcement too. The prospect of earning 3% on a savings and checking account was extremely...
Upstart’s AI Lending Platform Expands to Auto Loans On Deposit Solutions’ launch in the U.S. with CEO Philipp von Girsewald...
Robinhood is currently undergoing a new fundraising deal that values the company at approximately $1.3 billion with investment from DST Global; the undisclosed funding will add to previously raised capital of $66 million; the firm offers commission free trading on US stocks and has also launched a premium Robinhood Gold option for faster money transfers and margin trading. Source
Stock trading app Robinhood has canceled its planned launch in the UK and put a hold on global expansion plans;...