Technology

59374 readers

7416 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

Robinhood is cutting jobs, reorganizing teams, and focusing on credit cards to solve a shrinking user base, insiders say (www.businessinsider.com)

submitted 1 year ago by [email protected] to c/[email protected]

9 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] -3 points 1 year ago* (last edited 1 year 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.