
Robinhood Is Down - champagnepapi
https://status.robinhood.com/
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thedudeabides5
Funny thing about fintechs that are more tech than fin, they tend to go down
right when you need them.

Coinbase was a little like this in the early days. Exactly when you would need
market access (aka liquidity in or out) would be the time it would go down.

Kind of downtime that would get you fired at an investment bank in 2005 is
seen as matter of course out in SF.

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gargarplex
Some people think that Robinhood front-runs its customers as well. I am not
accusing them of that, and I am sure their policy is clearly outlined in their
fine print terms of use agreement.

The finance world is very different from the startup world. Hard work is very
specifically made clear in the cultural expectations and people who fail to
deliver are ruthlessly pushed out. Also, in finance, people reap the rewards
of their hard work (and the firm's proportional financial success) annually in
terms of cash bonuses. It's world's apart from startups, which are much
"cooler" than finance.

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gargarplex
Exchange risk is a real thing. For all the positives and fun that Robinhood
provides, dealing with immature platforms that aren't backed in full by the
faith of the US government and social contracts is in most cases not worth the
cost.

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toomuchtodo
Robinhood customers are covered by SIPC [1]. Still, those customers should be
using a mature brokerage (Fidelity, Schwab, etc).

[1] [https://www.sipc.org/for-investors/what-sipc-
protects](https://www.sipc.org/for-investors/what-sipc-protects)

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gargarplex
Thanks; I did not know that. I perceive that a mature brokerage would be more
likely to be covered in the event of a "bailout" – are there any other
advantages, e.g. 24x7 customer service via phone, including ability to place
orders and receive immediate confirmation even when website is down?

~~~
toomuchtodo
Considering Robinhood's website instability, and their total lack of customer
service, any mature brokerage would be a better option. Some (Fidelity,
Schwab) even have branches you can walk into to get help if necessary. Schwab
has $3.25 trillion assets under management (AUM), for example. If that isn't
"too big to fail", I don't know what is.

Disclaimer: Satisfied Schwab customer, no other relation

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radium3d
I'm curious how this is going down on the inside right now. I wonder what the
issue was and why the fix is taking so long to implement. Curious about the
environment and how management is interacting with the developers...

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notlukesky
Hopefully the forensic analysis is made public so that we can learn from this
outage.

