Category: Money

DATA: Robinhood users are really bad at portfolio diversification

Can Robinhood users actually call themselves Robin Hoods, or is it just another tool for the rich to rob the average Joe? In this series we’re diving deep into Robinhood’s public data to uncover insights on its users’ activity. Welcome to part two, where we’ll combine Robinhood’s data with other public sources to quantify the level of risk Robinhood users are taking, specifically in relation to how well (or poorly) diversified their portfolios seem to be. At the start of November, we downloaded the full Robintrack database, which records how many Robinhood users hold a particular stock over time. While…

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Facebook Pay will let you make payments through Messenger, WhatsApp, and Instagram

Last night, Facebook launched its new payment service called Facebook Pay in the US. The service will let you pay other people and businesses across Facebook Messenger, WhatsApp, and Instagram. You can add your debit or credit card to Facebook Pay and choose if you want it available in certain apps or all Facebook apps. In the beginning, the service will be available on Facebook and Messenger to pay for fundraisers, in-game purchases, event tickets, person-to-person payments, and select pages on Facebook Marketplace.  The company said Facebook Pay will roll out on Instagram and WhatsApp without specifying a timeline. It’s important…

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