Comment on Robinhood admits it’s just a gambling app.
FlashMobOfOne@lemmy.world 3 weeks agoIn gambling, the house always wins, by extracting value from the players. In stock trading, the players (capitalists) collectively always win, by extracting value from labor, technological growth, and natural resources. These are not the same picture.
Excellent analogy. People who equate the stock market and gambling should go look up where the DJIA stood in October 1994. The slot machines in Vegas don’t magically start spitting out profit just because you’re patient, but stocks generally do over time.
taanegl@lemmy.ml 3 weeks ago
It is gambling, because dark pools. That is the house. You’re not trading the actual stock. The financial institutions do that. You buy stock from them, and they in turn give you a fake number and invest it in all secrecy.
In essence, you’ll get your money, but they will handle the profits. So it is a rigged slot machine.
FlashMobOfOne@lemmy.world 3 weeks ago
Please go look up the Dow as if October 1994.
Thank you.
taanegl@lemmy.ml 3 weeks ago
No.
Please read my original post again. Did I say “was and always has been” or did I say “is”?