Robinhood, Robin Hood, Jesse discussed on Your Story or Your Life

Automatic TRANSCRIPT

Young people. But with the game if occasion and the. The Bells and whistles going off in the balloons and the emojis and all the shit that goes into making it seem like fun with something. That's very serious. How is that not? A crime in itself because of fishing so many people. From the younger generation like millennials and Jesse's I don't know how old Jesse's are. Now Right now maybe twenty years old I don't know but they're bringing them in to the system and they're hoodwinking them thinking that investing is a game and it's making it really fun for them to get thumbs up emojis and balloons going off so on and so forth. That one young man. was. Really affected by it and took his own life because of option trading within the APP and what's option training option trading. In a nutshell, it's going money. It's like leveraging money that you don't have and getting. Getting that From a source like a casino spotty new hundred grand go play poker. Here's a hundred grand go play poker something like that. You're getting money for nothing and then you're trading end. You're seeing ups and downs and you would never have that money in the first place. No one would ever lynch you such a large amount of money to just start. Using the APP because. They are lending it to because the house always wins. Sure. Go ahead and borrow this by chance to sit chances are that you're going to be owing us and we are going to have you in debt prison. Now, in that option deal for the young man, he was like at a negative seven hundred and fifty thousand dollars and I. Believe it was over the weekend or before trading had started and he saw that he was in such a negative negative position and that just crushed his mind and his soul that's just how I see it. I can imagine that any young person who went through millennial training of You know how important they are and how special they are in. You know they they come in last place in the race they still get a trophy that. When the when the shit hits the fan and you see such a negative ounce, you take it personally that you did something wrong that you are stupid. And so this young man within a short period of. Time just valued that number in his in his life, his own life and he took his life. It's a very sad story. But WHO's at fault for that? And that's why bring it up. Because on one hand I say bitcon because you have a teenager who is could use his technology for starting his own business for doing digital marketing something to to benefit the world rather than steal from it in a possibly guiltless or shameless way. You have that and then on the other side of robinhood which is spearfishing. A lot of ways. Young people to get started in in investing as simple as. Downloading a game or playing Some sort of game that they're interested in like fortnight. The whole platform gamified I know that they are changing it or maybe they have changed it a little bit but how many people have been hurt by their process? I don't know who started robinhood haven't really thought about that but my guess is that. They're older than the people that most people that are using them. So I think they're being like Hoodwink, they're bean Gema. And thinking that it's fun when investing is very serious. And there's a reason why you have Wall Street guys in suits and old men with no smiles on their faces and. Millions of dollars in lose something they jump off out of building which has happened many many times. There's a reason for that stuff and when you're doing it in an APP. House at any different. You look at your position and. In this case, the young man's position was like a negative seven fifty and it just hadn't taken its course to update where the position might have been lost. That was a less significant but I don't believe that there servers had updated that information and I think he was looking at it on the weekend possibly. So if he had waited maybe forty eight hours may he would have been in a positive position maybe it would have been less of a negative position where he could have. Done something about it. I don't know but he saw that big number he attached that value to his life and He took it. He didn't. He didn't find that. He was worth anything and how how's that going to be for the future of impressionable young people who are raised on technology. So You got both sides of it. You got both sides of the Bitcoin or the coin, and I'm not sure if you can trade bitcoin on Robinhood, maybe you can but something to think about. Something to think about. So that's my connection. There is the. Act of spearfishing on big con and then Robinhood spearfishing convincing. Young impressionable people to use their APP. When they know that they don't have the experience and they can gamified. They can make it look look a whole lot of fun and that you're making a lot of money and I I'm assuming that's what people want to do at a young age because they see their icons like Mark Zuckerberg. For one of somebody WHO's made billions now when I was. That age like in the mid nineties and in college and stuff we didn't have anybody to look up to as far as being a billionaire because if they were they much older, there was no one of our generation that was just young and successful that that I can remember like that. So I. Think a lot of times they think that they should be like that. Then why don't they get there? They're just do why does it come very very quickly, which is why you would probably be trading options for money that you don't have on an APP that game of is it makes it look like a some sort of A. Video game like four, nine or something. What do you think? Do you think it's a crime for Robin Hood it's obviously a crime for the act the illicit act of spearfishing accounts. And gaining access to critical counts as in the twitter case, and then sending out false tweets. From. People on twitter and doesn't matter if they're famous or not you can't do that. So. Think about that. That's I think I think there's a some things to be learned there and I'm assuming that Robin Hood will change their methods I've read some about that. Again, I don't use the APP. But I just think that you can invest in. Much, better places a beef in in your own business, and if you have a business right now you're doing a product or service I'm happy to promote that for you. Check out my co Fi page comeback for more. And I think you for listening to your story or your life because it is this chip only sign off. Talk to you next time. Bye..

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