Young Smart Money

Robinhood has crossed a line...well a number of lines. I'm leaving Robinhood and never looking back. In this video, I'll break down the 4 reasons I'm pulling my money out of the popular investing app.

Add me on Instagram! - AppleCriderOfficial

I started investing with Robinhood back in 2017 and was initially really excited about the prospect of a commission-free trading platform. Before switching to Robinhood I was using Fidelity and paying $4.95 every time I wanted to buy or sell a position.

The first few months of using Robinhood went well, but later in 2017, the problems with Robinhood started to pop up. The first thing that became apparent to me was Robinhood's reckless business practices. After signing up for the service, the SEC fined Robinhood $1.25 million because Robinhood did not tell investors that they were selling their order flow.

Personally, I didn't assume that this was malicious, just that Robinhood was following the Silicon Valley mentality to "move fast and break things" and disclosing their business model to investors wasn't a top priority. However, when I'm holding thousands of dollars at an online brokerage, I'm not sure that I want them to be moving fast and breaking things.

Then came the outages. In the beginning of March 2020, there were 2 significant outages that caused users not to be able to log on to their Robinhood accounts for multiple days. As a long-term investor, this didn't impact me too much, but these were some of the best trading days in some time and to be totally locked out from them is a big deal to active traders on Robinhood. Since these March outages, there have been 50+ additional Robinhood outages. Not great.

Next comes the gamification. Robinhood's use of confetti and bright colors has armed a new fleet of young men with all of the tools they need to become ineffective day traders. It's been shown time and time again that inexperienced day traders that don't trade for a living consistently lose money over the long-term. The traders on the other side of many of these Robinhood trades are sophisticated traders who are able to profit from the inflows of new money to the markets from Robinhood users. This trains younger people to think of the stock market as a gambling machine and a losing game which is not something I'm about.

Last big strike is the hacks. Recently, around 2,000 Robinhood accounts were hacked and drained of all the cash within them. Robinhood's support was unable to help users who saw unauthorized transfers out of their Robinhood accounts and has yet to provide any solution to these Robinhood users who are currently out thousands of dollars.

So I'm leaving. And I'm moving all of my investments over to Fidelity. As a time-tester brokerage that already holds my retirement accounts, I figure it just makes sense to consolidate all of my investments over there. Fidelity has the core features of Robinhood that I like: fractional shares, commission-free trades, DRIP and will get the job done for me.

Now it's up to you whether you want to keep investing with Robinhood, but I'd recommend you to stay on top of the news as it relates to the places you keep your money. You worked hard for it after all!

TIMESTAMPS

0:00 Intro

0:35 What Robinhood Did Well

1:46 Robinhood's Reckless Business Practices

3:53 Robinhood's Repeated Outages

5:56 Robinhood's Gamification of Investing

10:10 Robinhood's Repeated Hackings

12:23 Where I Am Moving My Money

14:07 Outro

Join Apple Crider (Young Smart Money) and Dan Kryzanowski (Rocket Dollar) as they chat about self-directed accounts, retirement, and financial freedom. He shares how he started getting into real estate and learned how he could utilize his retirement dollars for different purposes other than “retirement.” Dan explains what first liens are, what having a custodian means, the importance of having checkbook control, and everything in between. He also reveals why other financial giants like Vanguard or Charles Schwab don’t go by his methods.

By the end of this episode, you will learn different ways to grow financially through real estate, other uses of self-directed IRA’s, and to put more thought into retirement. Enjoy!

~

About Dan Kryzanowski:

Revenue-driving executive with a gritty, empathic "entrepreneurial mindset" responsible for leading new initiatives, partners, and teams across the US and globally to produce significant revenue wins in the IOT and physical worlds:

è 15 Yrs.+ Client-Facing Leadership (EVP of Business Development & Marketing, Head of Account Management). Real Estate, FinTech, Enterprise Software (SaaS / PaaS / FaaS).

è 10 Yrs. Commercial Leadership at GE Capital & Merrill Lynch (NPS / VOC / SWAPS).

è 5 Yrs. of FinTech (FT), Investor / Banking software sales & retention in Austin.

è 3 Major Turnarounds and GTM of Post-Acquisition business units (Increased Valuation 9-figures)

è 2 Languages (Spanish, English), 2 Universities (Wharton, Thunderbird), 2 Certifications (PMP, TSSB Finder).

Niche Expertise and Personal Interests:

✔ Investor, mentor, and speaker/author/podcast guest across the Family Office, FinTech and Real Estate communities: 100+ events/articles/interviews in 2019

✔ Niche expertise in Alternative Investments, Checkbook Control Self-Directed accounts (SDIRA, Solo 401(k), and Self-Storage: $100,000,000+ assets transferred

✔ Volunteer with HOBY (Hugh O'Brian Youth), empowering thousands of high school sophomores to develop leadership skills and embrace real world experiences in a collaborative, open environment: 1,000+ Ambassadors since 2011

STRENGTHS: Revenue Generation ✦ Brand Evangelist ✦ Client Champion ✦ Team Leadership & Development ✦Turnarounds ✦ Go To Market (GTM) ✦ Business Intelligence ✦ Competitor Research & Analysis ✦ Continuous Quality Improvement ✦ Key Performance Indicators (KPIs)

~

You can find Dan Kryzanowski on...

LinkedIn: https://www.linkedin.com/in/danielkryzanowski/

Twitter: https://twitter.com/dkryzanowski

Website: https://www.rocketdollar.com/

Email: [email protected]

---

For all resources mentioned in the show check out www.applecrider.com/resources

Show notes for this episode and all other episodes --www.applecrider.com/blog

Become a part of the Young Smart Money Community join the Facebook group -- http://bit.ly/YSMgroup

For more personal finance and entrepreneurship subscribe to my YouTube channel -- www.youtube.com/applecrider

Interested in low-cost podcast editing? Check out www.podblade.com

Join Apple Crider (Young Smart Money) and Nick Myers (RedFox AI) as they chat about Voice AI and taking advantage of emerging trends. He discusses how he got interested in Voice AI, how he started RedFox AI, the pillars the company runs on, how to capitalize shifting and emerging trends, and his outlook on how he does his work. Nick’s work is especially important and interesting as AI technology continues to grow.

By the end of this episode you will learn business models you can implement in unique situations, actionable strategies in building relationships with people, building your brand as a speaker, and expressing gratitude. Enjoy!

~

About Nick Myers:

Currently, I am the Director of Marketing and Communications for a national transportation and logistics company that is the second-largest contractor to the U.S Postal Service. In 2017 I founded my own company, RedFox AI, to help brands of all shapes and sizes around the world leverage the power of AI and voice assistant technology like Alexa and Google Assistant in their business and marketing strategies to improve processes and connect with customers in a whole new way.

Throughout my journey, I have been able to channel and knowledge and expertise in AI and Voice-First technology into speaking where I have become known throughout the world for my work. I have spoken across the U.S in cities like Milwaukee, Chicago, and Seattle, and around the world from Sydney, Australia to Bangkok, Thailand.

~

Nick's Marketing & Tech Toolbox:

Marketing & Communications • Digital Marketing • Social Media Marketing • Strategy and Consulting • Project Management • Artificial Intelligence • Conversational and Situational Design • Alexa Skill Development • Google Action Development • WordPress • Adobe Creative Cloud • Public Speaking • Facebook Ads • Google Ads • Event Management

~

You can find Nick Myers on...

LinkedIn: https://www.linkedin.com/in/nick-myers-0794

Twitter: https://twitter.com/therednickm

Instagram: https://www.instagram.com/therednickm/

Podcast: https://anchor.fm/the-artificial-podcast

Website: https://redfox-ai.com/

---

Follow Apple on:

FREE podcasting community: www.podcasting.group

Follow me on Instagram -- www.Instagram.com/applecriderofficial

For 350+ videos subscribe to my YouTube channel -- YouTube.com/AppleCrider

For $20 all-in-one podcast editing check out: www.podblade.com

P.S Don't forget to subscribe and leave a 5-star review if you enjoyed the show!

Today Apple Crider (Young Smart Money) had the pleasure of talking with Damian Barbu, co-founder of Boost Collective, a music promotion and distribution company aimed at helping upcoming musicians. At 18, he's been able to scale it to 50k a month in revenue.

In this episode, Damian discusses how he was able to create a $50,000 Per Month Business At 18 years old, Selling to SoundCloud Rappers.

By the end of this episode you will know how to carve out your niche in order to create a highly profitable business while you are still young.

Enjoy!

-----

Follow Damian on:

Twitter -- https://twitter.com/damianbarbu

Facebook -- https://www.facebook.com/DamianBarbuu

Company Website -- https://boostcollective.ca/

-----

Follow Apple on:

FREE podcasting community: www.podcasting.group

Follow me on Instagram -- www.Instagram.com/applecriderofficial

For 350+ videos subscribe to my YouTube channel -- YouTube.com/AppleCrider

For $20 all-in-one podcast editing check out: www.podblade.com

P.S Don't forget to subscribe and leave a 5-star review if you enjoyed the show!

#138 Today I had the pleasure of talking with Braydon Ross, aka Mr. AirBnb. In this episode, Braydon discusses how he build an Airbnb empire WITHOUT needing to own any real estate, how he finds condos and apartments to use for Airbnb rentals, and how you can get started with this business model as well. By the end of this episode you will have a blueprint you can follow on how you can be successful early in the game. Enjoy!

Follow Braydon on Instagram -- @mrairbnb

Want to learn how to start your own podcast? I created a free cheatsheet to get you started! -->www.go.AppleCrider.com/podcast-secrets

Follow me on Instagram --> www.Instagram.com/applecriderofficial

For 350+ videos subscribe to my YouTube channel --> YouTube.com/AppleCrider

For $20 all-in-one podcast editing check out www.podblade.com

P.S Don't forget to subscribe and leave a 5-star review if you enjoyed the show!