Hacker News Reader

Robinhoods actions were all about saving themselves, and the little guys, ie their customers.

Had nothing to do with benefiting anyone else, because it didn’t benefit anyone else.

That's the very problem, in this case, it _did_ benefit the institution -- the hedge funds. By restricting buys, retail was unable to drive the demand and put shorts into margin calls (we discuss the ethics of this until the cows come home). In this very case, an unknowable amount of money should have been transferred from hedge funds to retail investors but didn't because buyers were unable to buy.

Robinhood is just one part of stock retail demand, and overall a tiny one. And institutional demand is huge, I guarantee you there were Hedge funds buying GME hoping to provoke margin calls for the shorts too.

There is no monolithic blocks here. The conspiracy crap is doo doo.

Reply on news.ycombinator.com