“At least part of Robinhood’s success appears to have been built on a Silicon Valley playbook of behavioral nudges and push notifications, which has drawn inexperienced investors into the riskiest trading, according to an analysis of industry data and legal filings, as well as interviews with nine current and former Robinhood employees and more than a dozen customers. And the more that customers engaged in such behavior, the better it was for the company, the data shows.” Nathaniel Popper in the NYT: Robinhood Has Lured Young Traders, Sometimes With Devastating Results. (This is part of a broader story of money being poured into the markets by inexperienced investors who, I worry, will be the ones left holding the bag when things go south.)

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