Current Events > Robinhood lays off 23% of staff and blames the crypto market's meltdown.

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BlueTigerLion
08/02/22 5:15:11 PM
#1:


https://twitter.com/nytimes/status/1554574270038249476

Good night sweet prince.

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Tyranthraxus
08/02/22 5:16:46 PM
#2:


They should have thought about it before getting into crypto

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DarkBuster22904
08/02/22 5:18:14 PM
#3:


They're lucky they didn't lose their entire base when they flagrantly threw their lot in with billion dollar hedge funds during the gamestop fiasco

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DarkRoast
08/02/22 5:18:37 PM
#4:


This is nothing compared to what's going to happen when people realize that all the Crypto "banks" are just a bunch of inside-trading Ponzi schemes, and that the foundations of the market itself are propped up by basically the same people.


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Jagr_68
08/02/22 5:19:04 PM
#5:


So what's 23% to RH? 6 employees? >____>

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LinkDaLunatic
08/02/22 5:19:39 PM
#6:


DarkBuster22904 posted...
They're lucky they didn't lose their entire base when they flagrantly threw their lot in with billion dollar hedge funds during the gamestop fiasco
that shit was such utter bullshit... i still can't believe they flew right in the faces of everyone they were screwing with that shit. it was about as subtle as throwing a brick into a glass house.
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DarkRoast
08/02/22 5:36:31 PM
#7:


LinkDaLunatic posted...
that shit was such utter bullshit... i still can't believe they flew right in the faces of everyone they were screwing with that shit. it was about as subtle as throwing a brick into a glass house.

That was pretty bad optics, but frankly it's far worse that they were explicitly abusing their role as crypto liquidity overlords to engage in market manipulation for profits.

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Gobstoppers12
08/02/22 5:41:36 PM
#8:


Shocked Pikachu

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Halo478
08/02/22 5:42:41 PM
#9:


robinhood the place that should have been shut down after that gamestop bs they pulled fuck them

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Trumpo
08/02/22 5:43:42 PM
#10:


Getting their just desserts for turning off the buy button last year

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Halo478
08/02/22 5:44:27 PM
#11:


ceo should be in jail

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Tropicalwood
08/02/22 5:46:18 PM
#12:


DarkBuster22904 posted...
They're lucky they didn't lose their entire base when they flagrantly threw their lot in with billion dollar hedge funds during the gamestop fiasco
I mean don't they share the same parent company as that hedge fund? The whole scheme of that broker was always to collect information and pimp stocks to increase value for their own firms to begin with, it shouldn't have been as much of a surprise as it was.

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DarkBuster22904
08/02/22 5:48:43 PM
#13:


Tropicalwood posted...
I mean don't they share the same parent company as that hedge fund? The whole scheme of that broker was always to collect information and pimp stocks to increase value for their own firms to begin with, it shouldn't have been as much of a surprise as it was.
Surprise or no, it should have been Robinhood's death knell.

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Alucard188
08/03/22 8:33:24 AM
#14:


Looks like they sold off during the dip. Too bad they couldn't freeze transactions instead of short stocking.

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