In the footnotes of history, it needs to be known that Robinhood is responsible for one of the most profound and disruptive achievements in modern history that has given rise to unprecedented levels of personal wealth and influence. Robinhood's "frictionless" brokerage model has animated retail traders to the point of increasing influence over the US equity market and its role as the global economic sentiment engine. Capital markets stakeholders serve as accomplices to this achievement with their introductions of new products and capabilities, from short-dated options to "24/7" trading to the feverish promotion of prediction markets. However, in Alphacution's version of the classic Frankenstein metaphor, there's a secretive beneficiary to Frankenstein's creation...
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Paul Rowady is the Director of Research for Alphacution, a research and strategic advisory platform uniquely focused on modeling and benchmarking the impacts of technology on global financial markets and the businesses of trading and asset management. He is a 35-year veteran of the proprietary, quantitative and derivatives trading arenas.