Shaan Puri: Robinhood's gamified design exploits unsophisticated retail traders
Shaan Puri · Marketing Lessons from Jingles, Candy Crush, and Betting Sites · Jul 17, 2024 · at 29:00
Shaan Puri critiques the gamification and incentive structures of modern retail trading platforms like Robinhood.
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“Robinhood is designed the same way. Robinhood is literally designed like a mobile game to get you addicted to trade, to get you to try to trade as much as you can. They make money. Every time you make a trade, they don't make money by you buying a low cost index fund and holding it for 20 years. They make money by getting you to buy Robinhood gold to trade options and be day trading. And so Robinhood, which is this like name of like the, we're going to steal from the rich and give to the poor is doing the exact opposite. It's basically steal from the dumb and give to themselves. And that's what Robinhood is.”
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