How Robinhood Designs Fear
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- Опубліковано 6 жов 2024
- Robinhood sparked controversy when it temporarily blocked buying Gamestop, AMC, Nokia and other Reddit favorites. But the company’s history of manipulating its users begins in the design of the app itself. Here’s how Robinhood is designed to capitalize on our fears about money.
SOCIAL MEDIA:
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MUSIC:
Two Face - Causmic
Away, Glacier - Patrick Patrickios
Hypersleep - Music by Karl Casey @ White Bat Audio
I'm in England so obviously not on RH, but another tactic used by a similar trading app in the UK to induce FOMO (which I assume they use too) is to send notifications of stocks going through meteoric rises quite often which gives you the impression that you are missing out and to try and make sure you get on the next big winner before it's too late. I don't recall seeing half as many notifications when stocks are tanking to keep you mindful of the inherent risks of investing.
Interesting -- I wouldn't be surprised at all if trading apps in the UK are trying to use really similar design patterns to try and get the kind of growth RH has.
Notifications are fascinating things from a psychological perspective. Some interesting research has come out on how notifications effect our brain chemistry. The study I read found that people get a tiny amount of the stress hormone cortisol when they see a notification. If that trading app sends lots of notifications when stocks go up, that little bit of cortisol might be priming people feel more FOMO about not being part of the meteoric rise going on.
Short version of the comment essay that just happened: notifications are brain-witchery.
Yes for crypto. No for other. Also, the price has changed since the notification was sent.
This is such an insightful way of looking at the app, you really know your stuff!
Excellently argued, once again! I haven't used Robinhood, but from what I can tell, it looks like a gamification of finance. Points, scores, dollars moving up and down rapidly. The numbers spinning like a slot machine for every hundredth of a change in share price. The app appears to be designed not only for FOMO, but for entertainment or mindless checking (potentially compounding said FOMO). It's painfully simple - but who has the time, patience, or attention to read quarterly earnings or hold for decades? Excellent video.
This is great content
Subbed insightful analysis of a UI. Robinhood has gotten so much worse since. Fake plausibly deniable glitches in securities value. Misrepresenting transfers as p/l for several minutes "glitch". Unfavorably chooses between last mid and mean px. You NEED to look at the level II data (rendered completely useless by deep pools btw) and go out of your way to do limit orders or you WILL be gouged by a new deep pool order and in this false context you WILL pay for "liquidity" ! RH Trailing orders are the worst and are manipulated into unfavorably priced sales at prices that could NEVER have been reached on the open market- someone in deep pool saw your trailing order and sent in a new order to counter it at among the worst possible prices!
You deserve more views!!!
Here, here! Concurring that these are just desserts.