It’s time for OpenAI to enter financial markets

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Source: Cineramble

Robinhood started with noble intentions. To steal from the rich and give to the poor. Unfortunately, like many tales of good intentions, the truth isn’t as appealing as myth. I’m talking, of course, about the trading app, not the historical figure.

Ultimately, however, Robin Hood was quite possibly used as a stock alias for thieves. The moral of the story is that we shouldn’t allow names, myths, and folklore to distort the underlying reality. In this case, that thieves can pretend to be men of the people.

And Robinhood is certainly a financial thief, of the legal sort.

Robinhood started with a fairly radical idea: to allow anyone to buy or sell stocks commission free- $0.00 for any purchase or sale of financial instruments, including options, no questions asked. Traditionally, customers have had to pay $5–$10 every single trade. …


The Moral Economist

Thoughts on Economics, Politics, Philosophy, Ethics, and Computing by Adam Smith Reincarnated as Walter Morawa

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