Friction is not necessarily a bad thing. All the more so when it comes to highly gamified and financialized services. Important lessons for design in this sad story.
“20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative Balance”
https://www.forbes.com/sites/sergeiklebnikov/2020/06/17/20-year-old-robinhood-customer-commits-suicide-after-seeing-a-730000-negative-balance/
Well put by @Noahpinion.
Gamifying day trading in a world where people have more time than money is a recipe for disaster!
https://www.bloomberg.com/opinion/articles/2020-06-23/robinhood-traders-will-have-fun-until-they-get-wiped-out
When you growth-hack the heck out of stock trading 🤷‍♂️🤷‍♂️🤷‍♂️
At E*Trade., in­vestors opened roughly 260,500 re­tail ac­counts just in March, more than any full year on record. Newer ri­val Robin­hood, logged a record 3 Mn new ac­counts in the first quar­ter.
https://www.wsj.com/articles/everyones-a-day-trader-now-11595649609
In India too...
"Brokerages say a third or more of their new customers are small business owners or entrepreneurs and most of them are from tier 2 or 3 cities or towns."
https://www.moneycontrol.com/news/business/markets/businesses-locked-down-owners-turn-to-stock-market-to-make-money-5595531.html
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