Jai Chang

🚨Heads up: Our CEO Vlad Tenev’s X account was compromised and posted a fake promotion for a meme coin. We’re working with X to restore access and the post has been removed.

The added health perks (Whoop, Function, and Amazon One memberships + $1,000 Eightsleep Credit) definitely help to make the Platinum Card more enticing, but the big question still remains. Do you get to keep your Gold Card and 3%? $HOOD

@RyDawg42 That’s interesting, very unlike Robinhood to not standardize and make it as cheap as possible to add to the Gold flywheel, especially since they own TradePMR.

@jaimchang Hmm it says fees are determined directly between client and advisor. So it sounds like it depends per each advisor. tradepmr.com/blog/introduci…

This is the first time I’m seeing this on Robinhood. Get matched with an Robbnhood Advisor. Has anyone done this yet?

@RyDawg42 Same. Wonder what the fee structure is for using an advisor.

@jaimchang No I don’t think so. Because I don’t have concierge….

@Kenjii_anime That makes sense, wanting someone to talk to about something no one else knows about. Kind of surprised he didn’t see hint as a threat though - will have to go rewatch since its been awhile

@Kenjii_anime I dont understand why he spilled all the beans instead of staying quiet. Any ideas?

Rudeus and gang versus dragon god orsted

@RyDawg42 @RobinhoodApp Fingers crossed 🤞

@jaimchang @RobinhoodApp Yeah ever since that card got nerfed Robinhood could swoop in with the Platinum card and get all the demand from what the USBAR card used to be!!

So Robinhood is reworking the Platinum Card after the reaction to the launch back in March. The biggest complaints were losing your Gold Card and 3% cash back on everything. And to make it less coupony. What if the Platinum card keeps the 3% cash back. What other features or credits would it need so that you switch to it?

@RyDawg42 With the significant nerf of the USBAR card, I think there would be a huge demand for an equivalent. Fingers crossed they’re reading this! @RobinhoodApp

@jaimchang now that would be pretty compelling!! The travel credit covers a lot of the annual fee. And you keep the 3% cashback. And toss in a few other perks! That would be awesome

@RyDawg42 I think they’ll have to add the 3% base earn rate to the Platinum and in general make credits a lot less restrictive/easier to use (use hotel credit at any hotel or lodging). I have no doubt we’ll see something significantly improved, Robinhood is good at learning from mistakes.

@jaimchang Good to hear they are reworking it!!! Hopefully they can make it actually more compelling than the Gold Card! It is a high bar to beat haha!

Does anyone know what happened to the Robinhood Platinum Card? In their Take Flight Presentation back in March they had mentioned is was coming in Q2.

@FrostyFinances Agree but it’s worth considering, that and also the fact that 7% will fluctuate. My guess as more capital becomes available to lend, that rate could go down too

@jaimchang taxes will be at ordinary income rate. Still profitable. Making money on other peoples money is unheard of.

Ok $HOOD friends and investors alike, make this make sense. I would ask a favor and have people repost so I can get others' input. Much appreciated. If there's flawed logic here, I'd really like to understand it. Robinhood Earn allows us to buy a USDG Stablecoin with no transaction fees on the buy/sell. Then, we lend it out at 7% APY; which is freaking amazing (subject to change). Lastly, we can stop lending and sell USDG for dollars instantly put back into my account. I threw $10,000 to see how it all worked. I made $.01 in interest and then went through the entire process within a couple mins. Transactions settled. $10,000.01 in my account. Here's what I did next: I enabled $1,000,000 in margin and repeated the process. The margin borrowing rate is 4.25% but I am making 7%. So you're telling me I can make 2.75APY on someone else's money with no risk? Huh? Repeat that. Making money on someone else's money. Yes, you could use the margin in the market and make more, but if you were risk-off, why would you not do this. What's the catch? If I put $10M in margin in this making 2.75% on someone else's money, that is $275,000/yr. I've got to be missing something here. Video shows the penny's adding up to ~$191.78 day.

@FrostyFinances I totally agree with you that its not in the best interest for Alaska’s future to end the PFD. I just worry that the legislature and people will get short sighted because of how expensive everything has gotten, everyday essentials to the cost to run a state.

@jaimchang 1) Will never happen 2) 100% against it since the bulk of that money goes to businesses. 2a) Small businesses 2b) Big businesses which equals jobs 3) It is unfair for future Alaskans (children and those not born yet)

I'm a firm believer that if we gave everyone in America $1M each today, in 20yrs we would still have the same wealth disparity & social construct we have today. Nothing will change. There's dumbasses (broke), there's educated & common sense'rs (millionaires) , and there's builders (billionaires). Everyone fits into one of these three categories.

@Dr_Crossroads Agreed, there’s definitely not enough compute to go around and Meta just wants to be better positioned for the future. Wonder how long it’s going to take them to build out their 1st one - 2-3 years?

$META's entry, in my mind, validates the thesis of relentless demand, in a similar way as SpaceX's.

@FinXRob Can’t you earn 7% with Robinhood Earn?

I bought 973 USDG coins because i heard it was going to be huge. It has been completely flat !! Am i doing something wrong !?

@tizeldotz @Matsumoto_chan0 Thank you, I couldn’t find what it was!

@jaimchang @Matsumoto_chan0 Agrees Anyways it's "Yuuki Yuuna wa yuusha de aru". Honestly a good "hero" story

Her struggles as a hero were insane