Does Robinhood Think Investing Is a Party?

This post was originally published on this site

Oct. 4, 2021 3:56 pm ET

Robinhood’s logo at a pop-up event on Wall Street after the company’s IPO in New York, July 29.

Photo: andrew kelly/Reuters

In “Robinhood Users Come Under Attack” (op-ed, Sept. 28), Robinhood CEO and co-founder Vlad Tenev tells us that investing should be “delightful,” perhaps like children’s birthday parties, jolly and filled with goodies. All that is required is bringing a present—your savings or hard-earned income. In return, you will get a lot of cool games, cake and maybe you win a prize. The value of the prize may be equal to your gift, or it may be less or in fact it may be worthless.

Mr. Tenev claims that questioning and seeking to regulate investors’ choices insults their intelligence. In this story, regulators are the mean grown-ups. They want to explain the rules of each game and the actual value of the prize: Party poopers!

Prof. Irene Finel-Honigman

New York

Ms. Finel-Honigman is author of “A Cultural History of Finance.”

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