RobinhoodRobinhood have been a little duplicitous in that their...

Robinhood
Robinhood have been a little duplicitous in that their branding indicated they were anti-establishment, however the establishment was subsidising the commission free trades being executed by Millenials. Similarly Millenials are very aware that if you are not paying for a product, than you are the product. In this case the Millenials were receiving free trading, and Robinhood were selling their Big Data trends to institutional investors.

Redditors may be slowing down the eventual removal of an inefficient GME - they are just sticking it to the man, but the man will respond, and as a consequence of both parties, a new model may emerge. However I fully endorse their movement of XRP Ripple token on the weekend which has been attacked by Trump banking lobbyists in recent times cos they will be losing Cross Border Settlement trades. Ripple has been the saviour of several poor Pacific Island communities when Westpac and the ANZ recently constrained family members in Australia to send much needed remittances to needy families at home https://asia.nikkei.com/Economy/A-money-laundering-crackdown-hurts-Pacific-communities . Redditors support of the AML cinema change may also provide a lifeline to an industry that has been temporarily badly hit by COVID attendances.

Integrity and Democratisation
WallStreetBeats movement within Reddit, is very exciting. Whether or not it lasts it is indicative of protest action through investment. Robinhood IPO will suffer dramatically as a consequence of their duplicity. In todays generation with Millenials and others, integrity and genuine values are critical. As distributed ledger technologies begin to take up traction (ASX is moving to blockchain in 2023 https://www.zdnet.com/article/asxs-blockchain-based-chess-replacement-pushed-to-april-2023/) . These are examples of a dramatically changing Fintech space. Over the last 20 years Fintech has benefitted from efficiencies in speed and storage, but no genuine disruption has occurred. This is now changing.

DOU
DOU is a part of this innovation with it's revenue model (the original strategy before they became cocky) to provide free platform and moneytise from Credit Card companies. When Andy started promoting DOU as a Neo Bank it was misleading, because it isn't. It doesn't have license to receive deposits. It is a new fintech innovation, with more to come, but it isn't a Neo Bank. Similarly messing about with the Equity Holders Book was ill conceived. Fintech is changing, and it is becoming more accountable. DOU will be part of it, but they and the ASX need to do better.