Chapter
The Ethics of Retail Trading on Wall Street
18:42 - 26:25 (07:42)
The debate on whether retail trading is an ethical practice on Wall Street is divided between those who believe it is the least corrupt aspect, and those who believe it enables systemic excesses and doesn't acknowledge the sophistication of the retail investor. The Ape movement was born to profit from trading and protest against the financial industry due to the consequences following the 2008 financial crisis.
Clips
The lack of transparency and unnecessary complexity in certain systems can be detrimental to consumers, even if the end goal of the system is not to benefit them.
18:42 - 22:17 (03:34)
Summary
The lack of transparency and unnecessary complexity in certain systems can be detrimental to consumers, even if the end goal of the system is not to benefit them.
ChapterThe Ethics of Retail Trading on Wall Street
EpisodeReporter Called Jon Out, So We Called Him Up
PodcastThe Problem With Jon Stewart
The discussion around Robinhood's business model centers on the issue of whether or not it's manipulative and/or corrupt to encourage retail investors to trade frequently by making commission-free trading available.
22:17 - 24:10 (01:52)
Summary
The discussion around Robinhood's business model centers on the issue of whether or not it's manipulative and/or corrupt to encourage retail investors to trade frequently by making commission-free trading available. While some argue it's a positive development, others argue it enables a form of gambling addiction that hurts investors and disproportionately benefits Wall Street insiders.
ChapterThe Ethics of Retail Trading on Wall Street
EpisodeReporter Called Jon Out, So We Called Him Up
PodcastThe Problem With Jon Stewart
The guest and the host have different opinions on the investment strategies of the Ape Movement and their motivations to make money and stick it to Wall Street due to the formative experience of the financial crisis.
24:10 - 26:25 (02:15)
Summary
The guest and the host have different opinions on the investment strategies of the Ape Movement and their motivations to make money and stick it to Wall Street due to the formative experience of the financial crisis. Other billionaires like Chamath Pallipiti had also made money off of young retail investors.