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Unit Economics

Charlie Munger on Robinhood stock crash: 'God is getting just'

Berkshire Hathaway Vice Chairman Charlie Munger did some kicking of a downed dog on Saturday.

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over 1 year ago

Founder @ Mission Innovation Network

If Robinhood would just adhere to the principle of good-faith stakeholder dialogue, there would be no problem. If they would just say, "we are a gambling platform," there would be no problem. If they would take the time to educate their customers on concepts like "bid-ask spread," "payment for order flow," and "adverse selection," there would be no problem. It's only when they say we are "democratizing finance" to take from the rich to give to the poor that there is a problem. You can't employ #AddictionTech to line up retail investors to get their pockets picked by hedge funds and super-computers and then claim you are doing God's work.

Tim Connors core team
over 1 year ago

Founder, MD @ PivotNorth Capital

"We don't wanna make our money selling things that are bad for people.""