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Robinhood tilts business model toward 'social media capital' with purchase of Say Technologies, which has a Reddit-like chat function and proxy software to execute rebellions

The Menlo Park, Calif.-based broker phenom's $140-million purchase of the NYC-based startup gets young investors to collaborate in chat, show up with questions in Fortune 5000 c-suites and use proxies -- and even class-action suits -- like pitchforks

Author Brooke Southall
August 13, 2021 at 1:41 AM
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Alex Lebow (to right of fellow co-founder, Julio Fredes) : As part of the Robinhood family, we’ll be able to further our goal of creating a new ecosystem of ownership and engagement to benefit all investors and companies.

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Brian Murphy

Brian Murphy

August 13, 2021 — 4:18 AM
Thinking deeper about the Say acquisition and Robinhood's business model of payment for order flow, might hedge funds (and other institutional investors) also be fond of receiving information on Robinhood investor sentiment BEFORE trades are even made - from the AI surrounding community chats? My guess is that revenue stream would more than offset the purchase price of Say within a couple of years...just speculation on my part but completely doable - and if disclosed properly probably within the realm of regulations... Cheers.

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