Robinhood Is Causing Lots of Uproar in the Tech Community

The co-founders of Robinhood, Vlad Tenev and Baiju Bhatt, said that the protest movement against economic inequality, Occupy Wall Street, which started in September 2001, inspired them to start their online brokerage app.

Robinhood Is Causing Lots of Uproar in the Tech CommunityNow, the company is being tested against its goal of democratizing access to stock trading. The recent trading of “meme stocks,” which includes companies like AMC and GameStop that were made popular through chat forums like r/WallStreetBets on Reddit, have caused Robinhood to reduce some trading.

Robinhood Against the Tech Community

People who used to cheer on Robinhood and everything they stood for in terms of forcing industries like TD Ameritrade and Charles Schwab to drop their trading commissions to zero are the ones that are now criticizing the company. Last week, the online brokerage app stopped the purchases of GameStop and almost a dozen other volatile stocks.

The current uproar can threaten the plans Robinhood has to go public, and it can also prevent potential recruiters from joining the company. However, the company raised about $3.4 billion, which includes $1 million in emergency funding, from Silicon Valley investors.

In the past week, the company has faced multiple lawsuits from investors and tons of criticism from elected officials due to the stock-buying pause.

Is There Pressure on Robinhood from Hedge Funds?

Vladimir Tenev - the co-founder of Robinhood The CEO of Tesla, Elon Musk, spoke to Vlad Tenev through an audio-chat app Clubhouse where he asked him about Tenev’s decision to block the trading of GameStop stock. This caused people to wonder whether Tenev and the Robinhood company were facing pressure from hedge funds who might have been involved in those shares.

However, Tenev denied having any pressure from hedge funders and added that his company had no choice but to pause some sales because of regulatory requirements.

However, this explanation wasn’t enough for some. In fact, many started discussing alternatives to Robinhood platforms on Redditt.

Four Gadgets That Will Help You Get Through Quarantine

The global pandemic is the only thing that’s been on our minds lately. We’re all cooped up at home, missing our family and friends. Self-isolation or quarantine – call it whatever you’d like – isn’t easy, and you’re probably thinking: “What the heck am I going to do at home all this time? The good news is, we’re all in the same boat.

With that in mind, we’ve gathered the top four gadgets that will help you get through self-isolation.

1. Amazon Echo Dot (3rd Gen) Smart Speaker

This gadget will help communicate between rooms easily, especially if someone needs to be quarantined away in the house. The Amazon Echo Dot is small, mighty and it has a very powerful sound system inside. You can even control Alexa with just your voice. Plus it can connect to other smart devices in your home.

Four Gadgets That Will Help You Get Through Self Isolation

2. PhoneSoap 3 UV Phone Sanitizer

If you’re going out into the world, think about the filthy viruses and bacteria that are sticking to your phone. The PhoneSoap 3 UV Phone Sanitizer is perfect for cleaning your phone because you don’t want whatever that nasty thing picked up on your face or on your hands. This gadget is using UV lights that can kill up to 99% of bacteria and it keeps the battery charged.

3. Perfect Drink Pro Smart Cocktail Scale

We all know you’re missing those after-work drinks with your colleagues. The Perfect Drink Pro Smart Cocktail Scale gadget will make you a professional bartender, within 400 recipes available, you can use the kitchen scale with its companion app for the ultimate cocktail mix.

Four Gadgets That Will Help You Get Through Self Isolation

4. EdgeCross X Intense Home Workout System

There’s no way you’re going to step into a gym during a pandemic, so this incredible workout gear will give you everything you get at the gym at home. With a ten-minute workout program, you’re already going to feel your core and your glutes burning. Plus, you’re going to get a sturdy mat that will keep you balanced. Stay healthy and safe!

Four Gadgets That Will Help You Get Through Self Isolation