How does @RobinhoodApp make money? They monitor your orders, create a data file about that, and they give it to prime brokerage institutions milliseconds before you buy. If the institutions see a lot of buys, they buy milliseconds before your buy executes. @chamath @theallinpod

Lets talk about this. First, @RobinhoodApp has done something amazing by decreasing the barrier to entry for your every day buyer to now be able to easily invest. This has enabled a revolution. Truly, there is no arguing that.

But on the other hand, YOU ARE THE PRODUCT. By pulling your data and providing it to prime brokerage institutions, @RobinhoodApp makes hundreds of millions, because the brokerage institutions are able to get in first, and pull from the profits. Make the rich richer right?

This is a prime example of why decentralization and #IOTA with it's data capabilities is the future. Why are brokerages making money hand over fist based on our data? We should get a piece of that!

When we enable everyone to have control over their data, then the benefit of a lower barrier to entry starts to even out. Brokerages and companies like @RobinhoodApp should still make money, but us not getting any of it just seems criminal to me.