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Day: März 17, 2021

Robin Hood (the Sherwood Forest version) would be disappointed by his Silicon Valley-Wallstreet namesake. (Photo by Steve Harvey on Unsplash)

Robinhood: democratized finance on shaky ground

More than 900 years after the heroic figure Robin Hood set out to steal from the rich and give to the poor, two American entrepreneurs borrowed his name to establish a fintech company that claims to “democratize finance for all”. But the new Robinhood’s claim of ‘democracy’ is on shaky ground. Just as the company can make financial markets accessible to everyone, it can also deny access within a split second. This is what happened when they shut down Gamestop trading on January 28, 2021. Thousands of investors were presented with a fait accompli.

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