Called it.
Being absolutely bulletproof in some hypothetical Platonic ideal of a civil court has nothing to do with the legal exposure calculation. They’d have to pay their lawyers regardless, and if you hadn’t noticed, emotions are running juuuuuuuuuust a wee bit high over all this. Even if they won in court, it might kill them with additional reputational damage.
If my theory of the case is correct and this move was at least in part about reducing exposure, it’s because the weighted risk of a runaway jury awarding $69 trillion to /u/bonerchamp420 is too big to be ignored.
Right…
Robin Hood really went against their namesake on this one, no?
meanwhile, the simulation is glitching:
That’s just the Soup Man jumping on the populist bandwagon for his own fascist ends. I expect Hawley to join in shortly. Whether it’s their criticising Big Tech or calling for $2k stimulus cheques or this, they’re arguing for the right things for the wrong reasons. These are not our friends.
ETA (h/t @milliefink ):
Robin of Loxley was an aristocrat LARPing as a man of the people.
Um… okay? I mean, yes, the basic situation we’re all talking about is indeed happening.
Look, all I’m saying is don’t give any random office suite of tech bros and middle managers here too much credit. The market, the broader market, capitalism itself are all irredeemably shitty, and recreational investors on Reddit aren’t going to change that. But whether or not some all-powerful shadowy figure pulling their strings also wanted this, it’s pretty likely their lawyers have their hair on fire right now. If that’s not an interesting enough story for you, there are obviously a few hundred others to choose from, some of which will even turn out to be true.
it wasn’t the lawyers, it was daddy:
More to the point, he was almost certainly a myth that grew out of some folk legend. Another one of the many things that helps us understand that the only way to better ourselves is to find a suitable aristocrat and swear our allegiance to him. (Always him).
Robinhood’s users are not Robinhood’s customers. Robinhood’s users generate data about buying/selling and Robinhood sells that info to big institutions.
We know this. It’s the same as Facebook, as LinkedIn, as everything. The users are the product.
I had posted this in the comments thread for a prior article before I saw this one. Shaun hit the nail on the head
So “Robinhood” is protecting the rich?
Well…
