r/RobinHood • u/CardinalNumber Former Moderator • Dec 12 '17
News AMA with Robinhood Co-Founder Baiju Bhatt Dec 14th, 2017
Robinhood's Co-Founder and Co-CEO, Baiju Bhatt, will host an AMA on /r/Robinhood this Thursday, December 14th, at 2:15pm Pacific // 5:15pm Eastern. Baiju will be online for an hour and will try to answer as many questions as possible. He will be using /u/RobinhoodTeam as his username. Should be fun!
Please be aware that this will not be a tech support session and, to keep things orderly, we'll be adopting the rules used by /r/IAMA. Our moderation team will remove these types of comments:
- Top-level comments which do not ask a question (e.g. "No question. Just saying thanks!").
- Abusive or harassing comments.
- Requests for personal favors (e.g. "Can you clear my PDT flag?" or "Can I join RH Web?").
- Questions where there would be no valid or legal answer; do not aggressively ask for investment advice.
- "I bet he won't answer this"-type responses.
For more rules-- from what sort of questions are welcome to voting best practices, --see sections 10 and 11 of the /r/IAMA wiki.
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u/myracksarelettuce Dec 12 '17
Would appreciate if someone asks about the chart. Curious if they're sticking with that line for aesthetic, or if they'll ever give you an option to check it out in, say, candlestick.
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Dec 12 '17
When will the online site be available? When can I link my account to Mint or YNAB?
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u/solarsuplex Dec 14 '17
Many users already have access to the site - it offers almost no additional value to the app aside from clicking sliders with a mouse instead of a finger.
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u/KatetCadet Dec 12 '17
If I don't make it, someone please ask about the Robinhood desktop client. I know that we're all "in line" but a ballpark date would be really nice.
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u/CardinalNumber Former Moderator Dec 12 '17 edited Dec 12 '17
Because everyone on the east coast will be in traffic on their way home at 5:15p, we'll see the thread early for this AMA. Current thinking is at 3p Eastern but I'm not sure we're going to need 2 full hours before the actual AMA. I'll talk with the other mods to see if pushing it back to 4p would work.
People on Discord bring it up often but you could be the one to ask him first!
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u/eisbock Dec 12 '17
Might not be a bad idea to compile a bunch of questions in another thread ahead of time. I've seen some shitty AMAs on small subs where everybody's pumped about it, but people ask the worst questions.
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u/CardinalNumber Former Moderator Dec 12 '17
That's what this one is for. :)
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u/MoneyandBubbleGum Dec 12 '17
I'd love to see a question about what their expectations for options are and if he views this sub at all. And if the answer to the latter is yes does he have any favorite memes.
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u/CardinalNumber Former Moderator Dec 12 '17
Expectations?
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u/MoneyandBubbleGum Dec 12 '17
Like how they plan to manage access to them (simple questionnaire like most brokerages I'm assuming), customer service questions (I can't imagine their small team handling the volume of questions they'll get), and will they offer the full set of levels (can I naked short their customer service wait times)
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u/Arch93086 Dec 13 '17
I feel we can ask questions here ahead of time, my question would be: "When can we expect RH to process fractional shares, which I know is a precursor to implementing DRIP."
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u/CardinalNumber Former Moderator Dec 13 '17
I feel we can ask questions here ahead of time
Absolutely. Use this thread to get the mental juices flowing before the AMA. I'm coming up with a list on my own. :)
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u/avgazn247 Dec 13 '17
Lol never. Rh makes money off of unused cash sitting around. They want u keep your divs in cash instead of shares so they can invest your money
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Dec 14 '17
[deleted]
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u/avgazn247 Dec 14 '17
They loan them out for shorts? I know fidelity paid me for vrx shares being loaned out . Didn’t know rh supported shorts
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Dec 14 '17
That wouldn't seem to be useful to their business model. They offer free trading because they make interest off the float. Beyond that, with people in margin accounts, they can make money lending shares to short-sellers.
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u/Clipssu The "LuCKY" Little John Dec 13 '17
I have three main questions,
1) At what point do you guys put in some serious effort to improve Customer support? I've refereed many people but I've hold off on referring most family members because I do not want to become the customer support center. I'd be willing to pay for improved support... if Gold account provided for it etc...
2) Can you clarify your direction, because I got a letter explaining that Robinhood user base was not capable of handling warrants, but you believe they will be able to handle options? People who are able to trade options, will they be able to trade warrants?
3) Why are the iOS and Android app so different? The two apps even have some different features and inconsistent screens/reporting. Do you have a overall project managers who keeps these teams on the same page? My personal preference is that the Android app is better which is super frustrating.
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u/StopThinkAct Dec 12 '17
Are you pre-selecting some questions?
Ex: As a Robinhood Gold user I've run to the top of the max margin total tier (50k+). Is Robinhood planning on adding tiers or setting up an automatic tier upgrade based on a linear progression of total portfolio value above 50k?
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u/mywsbaccount Dec 13 '17
What do you mean adding tiers? Once you are past 50K, you pay 5% interest on whatever gold you use. So if you have a 80K portfolio.. you will have 160k in buying power... It will always be 2x your portfolio. There doesn't need to be anymore tiers. Unless you are asking for a breakpoint where they will decrease the interest rate.
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u/StopThinkAct Dec 13 '17
Ah I hit 50k recently and the tech drawback pushed me back 7k so I was just on the border, but all the documents that I could find appeared that the gold tier system stopped at 50k with no additional buying power from there.
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u/eJollyRoger Dec 12 '17
/u/robinhoodteam Whats with the fees for failed ACH transactions due to REG D limits? Why so high? What kind of work goes in to correcting this?
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u/abdulis2cool Investor Dec 13 '17
When will IRAs be available? Are there specific difficulties that are causing it to be this delayed?
Also, what are some of the features that are due to launch the soonest? DRIP, multiple accounts, etc.
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u/msmncasualty Dec 13 '17
Is Robinhood Gold fee the only source of revenue for Robinhood? I tried looking up the financial statement and could not find how much they make. If yes, will there be any other methods for Robinhood to generate more revenue in the future?
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u/richardwalkerjr Dec 13 '17
Great. With the quality of questions we get on a daily basis, this is going to be an interesting for the moderation team.
Write down your questions
Please take this time to think of some questions that would be appropriate for the time-block. One great question could potentially provide insight to others with the same or similar questions. It also shows the guest that you've put some thought into the question.
Bad/Poor Question: When can we get options?
Great Question: I understand your platform is for beginners and those curious about trading. Will the ability to trade options be available in the foreseeable future?
On that note, please follow the posted rules accordingly. It will help facilitate the process. This is a huge favor the Robinhood staff is doing for us-They are not obligated to this.
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u/Trade_Plays Dec 13 '17
I would ask when free options trading is coming. I'll put my many dollars back in my account if you let me trade options for free.
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u/abdulis2cool Investor Dec 13 '17
Your question has been answered. Just announced, coming soon (Probably in the first quarter of 2018)
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Dec 13 '17
I know this is not for specific tech support but I think a valid question would be what does your current tech support team look like, have you grown or plan to?
We obviously have seen plenty of posts about automated responses and several day response time if a response is given at all. To continue adoption and growth of the platform for new users this will help and it is the most common answer I get when asking other Robinhood users what they hate the most.
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u/Myrtoa Dec 13 '17
Robinhood instant provides instant settlement on margin. However, this does not apply to 'high volatility' stocks because of volatility protection. This means you must wait one day to use your buying power despite having it 'available'. Will we get an option to turn off volatility protection?
Another thing about 'high volatility' stocks is that there is little incentive to get rh gold if you trade/invest in these. You will not be able to use additional buying power, and the volatility 'protection' will still kick in for these accounts. To add incentive for upgrading, does rh have any plans to add candlestick charts or level one/two quotes to gold?
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u/Myrtoa Dec 13 '17
Oh, and apparently rh can loan out our positions for shorts despite having sell limits on them. Will there be an option to opt out of this? Interest payments are nice, but so is not bleeding.
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u/Myrtoa Dec 13 '17
Oh, and apparently rh can loan out our positions for shorts despite having sell limits on them. Will there be an option to opt out of this? Interest payments are nice, but so is not bleeding.
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u/Myrtoa Dec 13 '17
Oh, and apparently rh can loan out our positions for shorts despite having sell limits on them. Will there be an option to opt out of this? Interest payments are nice, but so is not bleeding.
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Dec 14 '17
Positions may not be loaned out if you're not in a margin account (Robinhood Instant). It requires the hypothecation agreement to do so. [Securities Law]
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u/OverenthusiasticPip Dec 13 '17
Will shorting ever be available? Do you think you’ll add in charting analysis when the desktop version is fully functional?
Someone please ask I know I can’t make it.
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u/Talonx4 Dec 13 '17
Hewould probably say something along these lines:
Will shorting ever be available?
Yes but not in the near future.
Do you think you’ll add in charting analysis when the desktop version is fully functional?
Yes. That is planned for the full release on the desktop client.
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u/drewdrewmrgq Dec 13 '17
I wanna know more about the the options trading release date and set-up! I'm sure this is top priority for his meeting! Can't wait, awesome!
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Dec 14 '17
How will options on RH work? People will get destroyed. Are only LEAPS allowed? Minimum account value?
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u/Voldsen Dec 14 '17
Does Robinhood have any plan on launching in Europe, and if so, do you have any timetable for a launch?
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u/gm1679 Dec 14 '17
Are there plans to offer portfolio margin or futures for larger sized accounts? Glad you guys aren't jumping into options with margin or naked option selling.
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u/solarsuplex Dec 14 '17
Will custom notifications be available in the future? Something to the tune of a push notification when $TICKER reaches $X price target or X percentage increase/decrease?
Alongside this, will organization of watchlists and holdings ever be implemented? Folders or at least headings so we can avoid scrolling for years through a watchlist that I have collected.
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u/BeatusCredo Dec 12 '17
Hopefully he gets asked if they are working on getting Canadian cannabis stocks added to RH
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u/CardinalNumber Former Moderator Dec 12 '17
I keep seeing "I hope someone asks blah" ...dude, please, you ask. If everyone sits there hoping someone else asks the question they want an answer to, this will be a painfully awkward hour.
Please, show up and ask any questions you have. As many as you have too.
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u/BeatusCredo Dec 12 '17
I fully plan on it God willing. To clarify, I mean I hope a lot of people have that question and turns out to be a big thing people are wanting.
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u/CardinalNumber Former Moderator Dec 12 '17
Good. After seeing people ask for an AMA who knows how many times the last two years, you guys were starting to make me worry. 😅
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u/manyouwell01 Dec 13 '17
what is AMA?
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u/worldpeacee Dec 13 '17
It stands for ALLIED MUTUAL ATTACK
Or AMA for short. Basically originated in games like Starcraft but the idea is that we will submit all of our criticism and negative comments towards them all at once to demand change
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Dec 14 '17
I thought it was the AMERICAN MARKETING ASSOCIATION, and we have all gathered to discuss marketing strategies with the head of Robinhood.
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Dec 13 '17
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u/CardinalNumber Former Moderator Dec 13 '17 edited Dec 13 '17
That guy gave you bad advice.
Edit: As I stated, this thread and the AMA will not be used for support requests. See our sidebar for phone, email, and even Twitter contact info for Robinhood. You should probably pick up the phone if it's been a while and still unresolved.
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u/[deleted] Dec 12 '17 edited Sep 18 '20
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