Tag Archives: Tech

Citadel Sues to Crush Competitors

“You’re the one who’s trying to regulate your way into a market victory”

Judge Justin Walker

Citadel Securities LLC is suing the SEC to stop curbs on high frequency trading:

A federal judge challenged a lawyer for Citadel Securities LLC about its efforts to thwart a new kind of market order from IEX Group Inc., the stock exchange operator made famous by “Flash Boys.”

“It’s you who’s going to a federal agency and saying stop a private entity from doing what they want to do,” U.S. Circuit Judge Justin Walker said at a hearing in Washington on Monday, after attorney Jeffrey Wall argued that the order type interferes with the natural course of the market.

The order type, known as D-Limit, has a roughly 350-microsecond delay to blunt the advantage of high-frequency traders.

Citadel makes massive sums from high frequency trading.

Brad Katsuyama created the IEX to stop high frequency traders from front running mutual funds and other investors. Now, IEX is offering a new technology, the D-Limit order, to help.

So Citadel sues the SEC to make them stop!

Imagine if Blackberry could’ve sued the government to make it stop the iPhone. Well, Blackberry might be doing a whole lot better today.

But the average person wouldn’t.

In Citadel’s defense, they’re having a tough time lately. Average investors in meme stocks like AMC Entertainment Holdings, Inc. are suing them in Florida.

And the SEC is considering a ban on payment for order flow, one of Citadel’s main sources of revenue.

It’s interesting to see who’s for the D-limit order. One proponent is Vanguard Group, which holds the savings of many individual investors, including me.

Vanguard is evidently convinced that circumventing high frequency traders will help the average investor. But for Citadel, Vanguard is competition in the market.

And Citadel will stop at nothing to win.

The only real question is: will we let Citadel lobby and sue its way to total control of markets?


This is the last blog for this week. There will be no blog next week; I’ll be visiting Barcelona!

See you on Monday, November 29th.

Until then, enjoy a few of my favorite posts. Happy Thanksgiving, everyone!

Starting a Financial Plan from 0

Citadel Builds Huge Position in AMC Call Options

Male Contraception With an Ultrasound Device?

NJ’s Best Apple Cider Donut

The Painting I Love the Most

Photo: “Ken Griffin” by DanGPhotos1 is licensed under CC BY 2.0

If you found this post interesting, please share it on Twitter/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

NFT Market is Growing 38,000% a Year, and AMC May Jump In

At its recent earnings call, AMC Entertainment Holdings, Inc. CEO Adam Aron revealed that the company may create its own non-fungible tokens (NFTs).

These unique pieces of digital art are exploding in popularity, per DappRadar:

In Q3, the NFT space generated over $10.67 billion in trading volume. This represents an outstanding 704% increase from the previous quarter and a colossal 38,060% increase year-over-year.

AMC is in a great position to dominate this market. Its partnerships with movie theaters could give it access to invaluable intellectual property, such as Marvel superheroes.

The movie studios would also gain by partnering with AMC. The theater chain already has a huge following among the young investors active in NFT’s.

Consider that a Degenerate Ape NFT recently sold for $1.1 million. Whatever its artistic merits, I suspect IP with broad recognition like the Avengers will be quite a bit more valuable.

Will minting NFT’s, creating its own crypto token, or accepting bitcoin make AMC a world-beating business all by itself? Of course not.

But AMC is doing what tech startups have done for years: experimenting with different products to find out what the market wants. If it hits pay dirt, it can expand that offering, driving lots of revenue.

I commend Aron and the AMC team for being so innovative. Best of luck!

More on markets:

AMC Fails to Deliver Jump 2700%

Let’s Make Our Own Index Fund!

Citadel Builds Huge Position in AMC Call Options

If you found this post interesting, please share it on Twitter/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Citadel Demands Dismissal of Lawsuit, Citing SEC Report

Citadel Securities LLC has demanded the dismissal of a pending lawsuit in federal court in South Florida.

The grounds: the recent SEC report on January’s meme stock rally did not find collusion between its hedge fund arm, Citadel LLC, and Robinhood Markets, Inc.

The lawsuit alleges that Citadel pressured Robinhood to stop buy orders in meme stocks like GameStop Corp. and AMC Entertainment Holdings, Inc. Citadel had a substantial investment in Melvin Capital Management LP, which was losing billions shorting meme stocks.

Citadel’s demand for dismissal is absurd because the SEC report barely mentions the allegations in the Florida lawsuit. They are glossed over in a single paragraph, relying solely on testimony from the people involved (see footnote 92 above).

The SEC has decided to take Vlad Tenev (CEO of Robinhood), Gabriel Plotkin (CIO of Melvin), and Ken Griffin (CEO of Citadel) at their word. But any or all of those statements may be false.

What’s more, this lawsuit alleges that top executives of Robinhood and Citadel were in contact right before trades were limited.

That contact should be explored in detail. The court needs to review emails, internal chat messages, and phone records.

To take a whitewash of an SEC report and then use it to dismiss a lawsuit is ridiculous.

Let’s hope the court sees through it.

More on markets:

Citadel Builds Huge Position in AMC Call Options

Starting a Financial Plan from 0

AMC May Issue Its Own Cryptocurrency, Per CEO

Photo: “Ken Griffin” by DanGPhotos1 is licensed under CC BY 2.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

A Vaccine for Breast Cancer?

Breast cancer killed 685,000 women worldwide last year. But the Cleveland Clinic has a new drug that could change that:

Cleveland Clinic researchers have opened a novel study for a vaccine aimed at eventually preventing triple-negative breast cancer, the most aggressive and lethal form of the disease.

Triple negative breast cancer only accounts for 12-15% of cases, but it’s unusually deadly.

Unlike most vaccines, the breast cancer vaccine could even help people who already have cancer:

“We are hopeful that this research will lead to more advanced trials to determine the effectiveness of the vaccine against this highly aggressive type of breast cancer,” said G. Thomas Budd, M.D., of Cleveland Clinic’s Taussig Cancer Institute and principal investigator of the study. “Long term, we are hoping that this can be a true preventive vaccine that would be administered to healthy women to prevent them from developing triple-negative breast cancer, the form of breast cancer for which we have the least effective treatments.”

Dr. Vincent Tuohy, inventor of the breast cancer vaccine, thinks vaccines may also work against ovarian and endometrial cancers:

“If successful, these vaccines have the potential to transform the way we control adult-onset cancers and enhance life expectancy in a manner similar to the impact that the childhood vaccination program has had.”

The idea of a vaccine for cancer isn’t as crazy as it may sound. BioNTech, producer of the first COVID vaccine approved in the United States, was working on cancer vaccines when the pandemic hit.

BioNTech currently has a colorectal cancer vaccine in Phase 2 clinical trials. That drug is even customized to each person’s body for maximum effectiveness.

We may be headed toward a world where if you have cancer, a few injections could stop the tumors in their tracks. And if you don’t have cancer, a preventive vaccine could ensure you never develop it.

The breast cancer vaccine’s Phase 1 trials should wrap up in September of 2022. I can’t wait for the results!

More on tech:

Male Contraception With an Ultrasound Device?

How Tech Could Stop Wildfires

What if Everyone on Earth Had Super Fast Internet for $1?

Photo: “Breast Cancer Cells” by National Institutes of Health (NIH) is marked with CC PDM 1.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Murphy’s Innovation Agenda

If you’re a fellow New Jerseyan, you know a big election is coming up. We have the constant barrage of commercials and junk mail to prove it.

Doing some research on the races today, I came across an interesting initiative Governor Phil Murphy recently passed. It’s called the NJ Innovation Evergreen Fund.

This fund provides tens of millions of dollars to venture firms to invest in New Jersey-based companies. I’d love to see our state dominate this field, especially since we’re the original home of the transistor!

I invest in tech startups and I can tell you this much: every one of them is hiring. They’re a great source of high quality jobs.

Murphy also passed free community college and a $1 billion school funding increase. This means our population will have better skills.

The transformative inventions and great companies of tomorrow will be created by those with the best skills. And I want New Jersey to be a big part of that.

One change I’d suggest to the fund would be to have it directly invest in companies. Its current structure is complicated and hard to understand.

If the fund simply hired people knowledgeable about tech and venture capital and came in as a co-investor on great New Jersey-based companies, it could help them scale much faster.

And if the fund did well, the state could make a huge profit.

I’m excited to see this novel approach by the Murphy administration. Let’s make the Menlo Park that matters most Menlo Park, NJ!

More on tech:

Why I Just Invested in Kippo, Where Gamers Find Love

What if Everyone on Earth Had Super Fast Internet for $1?

Why I Just Invested in Capbase, The Startup in a Box

Photo: “Governor Murphy, Lieutenant Governor Oliver, Senate President Sweeney and Speaker Coughlin hold a press conference on budget agreement in Trenton on June 30, 2019.Edwin J. Torres/NJ Governor’s Office.” by GovPhilMurphy is licensed under CC BY-NC 2.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Polygon: Crypto’s Killer App?

Everyone loves Ethereum, right? It’s widely used and has a ton of code already out there for developers to slot into their projects.

But there’s one problem.

Ethereum can only process about 15 transactions per second. And the huge amount of computing power needed has gotten expensive. Some transactions can cost over $100 each.

What if there were a way to take the developer-friendly world of Ethereum and make it much, much faster?

That’s where Polygon comes in. Polygon can run at up to 65,000 transactions per second, far faster than even Visa’s huge network.

But developers can still use Ethereum-compatible blockchains and take advantage of the huge amount of code already available on Ethereum.

Similar to an API company like Plaid, the success of a smart contract platform like Polygon is all about developer adoption. The more widely it’s used, the more valuable it becomes.

Given that developers can write code on a platform they’re used to, I think Polygon will have a big advantage over most. It shows in the numbers: daily active users have gone from 750 at the beginning of the year to 192,000 in August.

Polygon is being used for a lot more than price speculation. The most popular project is QuickSwap, which lets you trade 100 cryptocurrency pairs quickly and easily.

My favorite project is Polymarket, where you can bet on real world events like elections or court cases. This could be useful for predicting the weather, a major need of agriculture businesses.

So will I be buying Polygon?

Despite its impressive technology, in a high risk investment like this, I’m looking for the possibility of a 100x return. I’d look for the same in a tech startup.

At a fully diluted market cap of $18 billion, Polygon may have already become so successful that it doesn’t make an ideal investment for me.

But I’ll be watching this awesome team to see what they come up with next!

More on tech:

How Elrond Could Take Over Payments Worldwide

How Tech Could Stop Wildfires

How Solana Could Wipe Out Visa and MasterCard

Photo: “File:Raspberry Pi Bitcoin Mining (14673305874).jpg” by Gareth Halfacree from Bradford, UK is licensed under CC BY-SA 2.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

AMC May Issue Its Own Cryptocurrency, Per CEO

Fascinating news from AMC:

AMC Entertainment Holdings Inc., already bolstered in the past year by technology, may go even further by issuing its own cryptocurrency.

The Leawood-based company’s CEO, Adam Aron, said on CNBC that the company is getting “hyperactive” when it comes to cryptocurrency, though he added that the idea is one of several the giant theater chain is working on.


I think this is an excellent idea. AMC’s business is on an upward trend, but it still suffers from heavy debt.

Its debt, at nearly $6 billion, far exceeds its cash balance of $1.8 billion, per the most recent quarterly report.

AMC could use a lot more capital to pay off that debt and free itself to pursue a bright future. But shareholders recently voted against the issuance of new shares that could’ve brought in over $1 billion.

They don’t want their ownership position diluted, of course.

But issuing a cryptocurrency dilutes no one. It’s essentially free money.

Given the intense interest in AMC by the meme crowd, I would expect these coins to do rather well. AMC could use that money to pay off some debt and be in a stronger position for the future.

Kudos to CEO Adam Aron for this innovative idea! I hope he pursues it.

More on markets:

Robinhood Exec Dumped AMC Right Before He Limited Trades, Lawsuit Alleges

AMC Has Burned Short Sellers for $4 Billion in 2021, Per Latest Data

Will Evergrande Spark a Global Financial Crisis?

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

How Elrond Could Take Over Payments Worldwide

I recently sent a wire transfer. The money was destined for a promising tech startup. I was so excited!

Then I logged into my account a few days later and noticed a mysterious $20 charge. Next to it, the dreaded words “Wire Transfer Fee.”

Eww. Why should sending what amounts to a text message cost $20? Because they can, that’s why.

I found another bank that offers free wire transfers, which is very rare. But this experience got me thinking: what if we blew up this system?

That’s where a new cryptocurrency called Elrond comes in. Since its launch last year, this innovative coin’s price has gone vertical:

But what’s even more impressive than that is its capabilities. The Elrond Network can process up to 263,000 transactions per second.

That’s more than ten times Visa’s capacity and over 25 times Ethereum 2.0’s.

It also uses a new technique called adaptive state sharding. This means that the network can create more nodes, which process transactions, as the network grows. It can also merge them if participants leave.

This means a network that scales up and down easily. No other cryptocurrency that I know of has this feature.

So what does it cost to process payments on Elrond?

Practically nothing. In fact, someone recently transferred $17 million for less than a penny on the Elrond Network.

Take that, banksters!

One fly in the crypto ointment could be Know Your Customer (KYC) regulations. These require identity verification for all accounts and payments and are designed to avoid money laundering.

But the entire banking industry handles KYC for just $500 million a year. The blockchain could actually make it easier and cheaper by letting banks share that info. That way, each bank doesn’t have to go through the process again with the same person.

So, does Elrond work as an investment? I’m not sure, and I’m eager to hear your thoughts on that. Leave a comment at the very bottom. (I don’t own Elrond currently.)

For anything this high risk, I’d like to see the possibility of a 100x or greater return, just like with early-stage startups.

The fully diluted market cap currently sits at $8 billion. Can it get to $800 billion?

That will depend on how much of the existing financial structure it replaces.

More on tech:

How Solana Could Wipe Out Visa and MasterCard

Why I Just Invested in Kippo, Where Gamers Find Love

The Hamster Crypto Trader That’s Outperforming Me

Photo: “Hobbit House from Lord of the Rings by Michael Matti” by Michael Matti is licensed under CC BY-NC 2.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Why I Just Invested in Kippo, Where Gamers Find Love

Almost every dating app out there today is fundamentally the same. You swipe, you match, you text. They have different names but offer the same one-dimensional experience. Bored yet?

Enter Kippo, a new app that specializes in helping video game fans find dates and new friends. Your profile is a lot more fun than the typical dating app blurb. You can list your favorite games and match with someone who loves them too! 

You can even create fun little cards within your profile. You can show off your pet, your personality type, and more.

Kippo gives people something to bond over: the games they love. No more awkward “how’s your day going?” after you match. 

And for a low pressure virtual first date, how about a little Fortnite?

Kippo is growing at warp speed as gamers flock to the platform. There just might be someone there who loves Muscle March as much as you do!

More on tech:

Male Contraception With an Ultrasound Device?

Why I Just Invested in Capbase, The Startup in a Box

How Solana Could Wipe Out Visa and MasterCard

Photo: “‘Who wants to play video games?'” by JD Hancock is licensed under CC BY 2.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

iHerb

The only place I buy vitamins and supplements. I recently placed an order and received it in less than 48 hours with free shipping! I compared the prices and they were lower than Amazon. I also love how they test a lot of the vitamins so that you know you’re getting what the label says. This isn’t always the case with supplements.

Use this link to save 5%! 

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Robinhood Knew Its Platform Was Falling Apart, But Kept Signing Up Record Numbers of Users

On January 28, 2021, Robinhood cut off buying in shares of AMC Entertainment Holdings, Inc., GameStop Corp. and other popular stocks.

This caused the shares to fall, infuriating investors.

Just 3 days before, Robinhood CEO Vlad Tenev and top engineers knew the platform was under incredible stress. From an internal chat:

So, what did they do? Restrict new sign-ups? Pull some ads? No.

In fact, despite being well aware that its systems were buckling under enormous volume, Robinhood barrelled ahead to its biggest day for downloads ever.

That was January 27th. One day later, all hell broke loose.

This is but one gem from a class action lawsuit in the United States District Court for the Southern District of Florida.

As someone who invests in tech startups, I can certainly understand their desire to grow. But when your internal systems are so strained that you can barely service your existing customers, throwing gasoline on the fire isn’t the answer.

This behavior jeopardizes your reputation for the long term in order to reach a short-term goal.

Something tells me this won’t be the last lawsuit.

More on markets:

AMC Fails to Deliver Are 40,000 Times Amazon’s, Per Latest Data

Will Evergrande Spark a Global Financial Crisis?

If Citadel is Trolling on Twitter, Where Else Are They?

Photo: “Danger sign: Unprotected fall hazard” by Johnny Surabaya is licensed under CC BY-NC-SA 2.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

iHerb

The only place I buy vitamins and supplements. I recently placed an order and received it in less than 48 hours with free shipping! I compared the prices and they were lower than Amazon. I also love how they test a lot of the vitamins so that you know you’re getting what the label says. This isn’t always the case with supplements.

Use this link to save 5%! 

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

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