Name: How Robinhood Is Shaking Up Stock Trading | WSJ
Uploaded: 2021-05-30T12:48:28.000Z
Duration: 8 min 14 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Adverbs of degree

- This pandemic and its fallout really represents

the biggest shock to the US economy in living memory.

- [Alexander] 2020 has been a turbulent year

- The biggest drop we've seen since that crash in 1987.

That's the last time that we saw a quarter this good.

- [Alexander] But rather than be sacred off

many of whom are bored, isolated and out of work

because of the pandemic are buying like never before.

2020 has been a better year for all brokerage firms

but the broker of the moment is Robinhood.

Robinhood's founders say they create the platform

to democratize America's financial system

to begin building their wealth in the stock market.

- [Narrator] I bet he's investing right now.

He's taking charge, he's grabbing the bull by the horns.

- [Alexander] Since it was founded in 2013,

On Robinhood, traders can buy small slices of a stock,

Robinhood also doesn't require a minimum balance

But the perk that the company is most known for

Usually up to 10 bucks for every single trade.

- [Alexander] Today, free trades are the industry standard

including Charles Schwab, E*Trade and TD Ameritrade

Free trades were partially what attracted Will Nelson

- [Alexander] Nelson, who has no background in finance,

- [Alexander] That recipe of easy-to-use interface

and free trades has transformed Robinhood

This year, the company reported three million new accounts,

All of this attention has made Robinhood one

of the most valuable startups in the country

- I fundamentally believe that decisions belong

to their owners so long as those decisions

were entered into knowingly and willingly.

- [Alexander] Tara Falcone is a personal financial adviser

- And I think that that's where the fine line

is that these young, inexperienced traders

They've never received education around investing.

Most of them have no idea what a stock even is

- [Alexander] In a statement to The Wall Street Journal,

that our company and our service have become synonymous

their first investments through Robinhood.

We recognize this profound responsibility,

In June, a 20-year-old trader died by suicide

after he misinterpreted his Robinhood account statement,

which temporarily showed a negative balance

a complicated financial instrument typically used

or actions in our society that are gated by age

in our fundamental psychological development.

- [Alexander] In a final note left for his family,

Kearns wrote that he had no clue what he was doing

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How Robinhood Is Shaking Up Stock Trading | WSJ

aspect

profound

intuitive

psychological