Yeah, the younger crowd doesn't trade, not because "the maaaan" is keeping them from it, but because it's a very complicated way of making money, and they typically don't want to learn how to do it right. What this startup is doing is telling the younger crowd that it's the former, while also saying "Look how easy this is!" and deliberately oversimplifying complex systems.
It's not a matter of complexity, it's a matter of power, or rather, information asymmetry.
Buying stocks isn't really investing, it's more akin to gambling like Poker, with all other investors at the table.
Many of those investors have massive computers, R&D firms, brilliant minds, 'inside information', and relationships with those companies and CEO's.
So what 'millenial' is going to trade better than those?
Zero. Or at least in the long run.
The only way to 'beat the man' is to have more knowledge than Wall St. and that is extremely rare.
So what 'Robin Hood' does is sign up fish to feed to sharks.
It might make sense to put a chunk of savings in a broad array of stocks (some in bonds, some in gold, some in cash etc.) - but 'trading' against Wall Street is about as smart as playing Poker against the best in the world thinking you're going to win.
The real appeal from the users I have heard is lack of gatekeeping and minimal tolls which I suppose makes it essentially a knife with just a thin hilt as a handle - technically you can save money using it responsibly but most people just hurt themselves.
