lukestein’s avatarlukestein’s Twitter Archive—№ 1,047

      1. Hot take: Robinhood is offering a “checking and savings” product that quacks like a duck but smells more like a skunk. Second take: RH has ~6m customers, including many of my empty-pocketed undergrad students. Overpaying 1% interest on $1k cash each is a $60m ad buy. HT @nikir1 t.co/Tq85aRfD5M
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    1. …in reply to @lukestein
      So many of my @WPCareySchool finance undergrad students trade on Robinhood, and none of them seem to know how RH can "afford" to offer "free" trades. They 👏 sell 👏 order 👏 flow. (And maybe spend down >$500m in VC raised.) bloomberg.com/news/articles/2018-10-15/robinhood-gets-almost-half-its-revenue-in-controversial-bargain-with-high-speed-traders
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  1. …in reply to @lukestein
    BTW, new products to increase yields on cash aren't just a RH thing this week; here's news of @Betterment with a "two-way sweep" product wealthmanagement.com/technology/new-betterment-two-way-sweep-feature-would-boost-yield-client-cash
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