We've been keeping up with the latest headlines...
here are two of our favorites worth sharing.
Your Money
If you have a smart phone, then you know how notifications can either keep you on task or steal your attention with "breaking news alerts" or "tragic headlines du jour."
That same approach gave Robinhood, the trading app for the masses, an $8 billion valuation by encouraging frequent and risky trading to its users.
At the core of its business is an incentive to encourage more trading. It doesn't charge fees for trading, but it is still paid more if its customers trade more. It fails to disclose to customers the more often they trade, the worse their returns are likely to be. The returns are even worse when they get involved with options.
In my opinion, the mission to make finance more accessible is noble, however the execution is criminal. They are setting their customers up to fail and, as one analyst remarked, "they encourage people to go from training wheels to driving motorcycles."
No wonder they had to install bulletproof glass in their headquarter's lobby!
Sometimes, we just need a “feel-good story" to remind us that amidst the chaos going on in our country today, there are still good people with good hearts doing good things for others.
Here’s a great one from People.com about a group of students in Texas that launched a care package project for seniors in their communities to prevent them from feeling isolated during the COVID-19 pandemic.
