skysight-inc/HackerNews huggingface dataset:
The cost of trading meme stocks also increased exponentially due to regulatory requirements.

Full explanation with math here: https://twitter.com/kralctrebor/status/1354952686165225478?s...

Also, it’s not realistic to expect them to completely retool their entire app and infrastructure in a matter of hours to disallow margin-based trades of only certain securities. If this was a long-term concern I’m sure they’d do exactly what you suggested. However, this even ramped up in only a couple of days. Let’s be realistic about what they can re-engineer, test, and deploy to end users in that timeframe.
The exclusivity is part of the hype to drive people to talk about it. If nobody you know is on Clubhouse (e.g., anyone that could give you an invite), is it really as good (or personally as valuable to you) as it's chalked up to be? Network effects haven't taken hold yet.

If they had a better marketing campaign, they'd be taking e-mail addresses on their homepage instead of CTA'ing people to download an app they might be able to get into at some future point.
It's the scale that matters. Once a company starts serving many millions of people, and becomes a nationwide backbone for some type of communications like Twitter, Facebook, Amazon services, email providers, telephone companies, etc. then it needs to be illegal for them to engage in discrimination and censorship based on political ideology.

Nobody's saying you can't run a small Federated server on Mastodon, for example, and "play god" with your users, but if you do that on a national level you need to be made to stop.
https://marc.info/?l=openbsd-misc&m=152600018515730&w=2

This is what I had in mind. This obviously impacts some useful gdb features, but such is the nature of OpenBSD.
On Monday (yes, this Monday) AMC announced they would issue and sell 50 million shares. Yesterday (Wednesday) they announced they had finished selling all 50 million shares: https://investor.amctheatres.com/newsroom/news-details/2021/....
FYI was working nicely for me in Safari.
Well maybe common sense tells us how the system should work, but in a regulated industry in the real world the technical details matter. Hope we can get to the ideal solution after enough of these fiascos. Robinhood needs to be at the cutting edge to keep their customers.
The requirements for Robinhoods collateral are partly based on volatility
Is there a fees/interest for using that $1000 margin that comes with free account?
@ddragon described it rather well. Some significant examples include JuMP (https://jump.dev) for mathematical optimization and how FluxML (Julia's "Keras"), Zygote (whole program automatic differentiation) and ODE solvers can work together easily to build Neural ODE solvers in relatively few lines of code. It is also why one person can write - https://github.com/yuehhua/GeometricFlux.jl - and benefit from the CUDA, FluxML, Zygote packages to get high performance.
I've seen some repos put "mirror" in their descriptions. Like others, I wish GitHub has a way of blocking PRs.

But I think, what I can do eventually is have my version of your "Open-source, not open-contribution" paragraph. Hopefully the term will become popular and more widely recognized.

Furthermore, I think it is helpful to have a public roadmap of features not implemented yet. Others (especially colleagues) might feel ownership because they were able to guess what's on your long mental to-do list and make that their "ground breaking" request.
> One of Robinhood’s innovations was that they gave everyone a margin account, but hid the details.

In the old days one would have to formally request margin. Then the broker would give you stern warnings, have you sign a form, mail you a nice booklet explaining margin, options and shorting. I assumed it was a legal requirement, but maybe not?
Launch HN: PixelCraft (YC S21) – A Pixel Art Editor
PixelCraft is a pixel Art & Animation Creation Tool Built using HTML5 Canvas.
It is a Progressive Web App (PWA) with offline compatibility.
It is mobile-friendly and is very easy to use.

https://github.com/rgab1508/PixelCraft
Maybe Gmail was not the first free email, but was definitely the first massively adopted free email with a very high storage capacity.

At Gmail's launch, Hotmail was offering only 2MB of free space, while Gmail was offering 1GB. At the time, that was a game changer, and how they captured a good chunk of the market.
The most fascinating thing, to me, about all of this is the potential for large groups of retail investors to invest in a company not because it's doing well, or they think it's undervalued, but because they want it to do well-- investing with the specific intent to give it the resources needed to do well. Perhaps unintended, this seems to be the net result with AMC. A few days ago they probably wondered how to keep the lights on. Now they've sold some stock at a premium and have a lot more cash on hand to trudge along as (hopefully) vaccines mostly resolve their issues.

I can imagine the emergence of a different sort of activist investor: large groups that find distressed companies they really want to do well, and instead of the company getting eaten by a private equity shark, they're given the resources for a turn around. (Some-- many? -- would fail anyway)

I recognize this probably unrealistically optimistic, but I imagine some Occupy Wall Street veterans are having a big laugh right now either way.
Robinhood didn't halt selling, only buying, and they have a massive conflict of interest.
Have you not read about the fire they were under a while ago for making it too easy for people to lose money? Making it so people would be stuck in their positions would be insane, way more than their current actions.
> which at ~140% of float, they don’t

Why not?

Person A has 100 shares. Melvin borrows 40 shares from A, and sells it to Person B.

Person A + Person B now have 140 shares combined (while Melvin has -40 shares). If PersonA + PersonB agree to loan shares to Melvin for another short sell, they've become able to drop to -140 shares, by borrowing 60 of Person A's remaining shares, and then 40 shares from B.

Nothing illegal here, as long as Person A and Person B agree to the terms.

----------

And again: Melvin seemed to hold puts, not shorts. So this entire point is moot anyway. Puts are a bear-bet, but they're kind of unrelated to short-selling.
I'm not sure if the following is correct but according to the post on WSB, they ran out of Stock. There was a couple of folks who said their market order was filled at 5k for a share. Something wonky happened and they had to force sales.

https://old.reddit.com/r/wallstreetbets/comments/l7bpf5/30_s...
Can anyone confirm this is a margin call? If so it's legal, if not they are going down.
At this point I'm almost convinced that CIA (or perhaps one of its rivals) is running some psy-op on the citizenry. It's as if they'll get a bonus as soon as a million Americans die of covid. (hmmm... maybe we should watch for big spenders later this year...) Everything that comes out of CNN, the social media firms, etc. seems calculated to make most Americans less likely to submit to vaccination.

I say this while wearing masks in public religiously, having already received the second dose of Pfizer. Covid really is killing people, and will continue to kill more and more as time goes on. We won't see "herd immunity" for years if ever.
But still, it's a moot point because if anyone doesn't like how this was handled, they can go build their own phone operating system and application store since Google is a private company.

Or has the HN's opinion on this changed now that partisan politics aren't involved?
Edmund Hoyle wrote a set of rules for the card game whist. His name was used in subsequent collections of rules for all sort of games. "According to Hoyle" has become idiomatic for "according to the rules."
Quick question: is anything stopping GameStop itself from authorizing a whole bunch new shares and selling them at this all-time-high price? I understand the Redditors trust each other, but what makes them think they can trust GameStop?
As always, there’s a relevant xkcd: https://xkcd.com/937/
"There wasn't a liquidity problem"

No matter the real explanation, here's the reality. Some firms continued to allow trading of GME, and a few firms including Robinhood did not.

I don't think it's clear that Robinhood did anything illegal, but it seems clear from their lack of transparency and Enterprise BS tactics that they aren't going to lay out a clear reason as to why they halted longs and other firms did not. Probably because it paints Robinhood in a bad light.

All this does is continue to expose Robinhood for what it is: A budget brokerage firm with a shitty product. Avoid if you want to maximize your profits.
Banks back the primary dealers who take and back these leveraged trades. They are up to their noses in this.
Even if that were to happen, aren't users insured up to $500k?
Yes of course.

>Someone like yourself who's just trying to put a better app in front of Robinhood?

Yes I would expect some user to complaint, the service is part of the app experience.
Works until it doesn't. Exhibit TSLA.
Just another reason to dislike Facebook.
Sadly for me a lot of the apps I've made I'm pretty happy with are filled with reviews that basically say "Sally in customer service was mean, 1 star".
Thats not quite accurate - a lot of the brokerages have only introduced it commission free on certain conditions. For example IBKR still has other fees if you want to use any of their more advanced features.
https://en.wikipedia.org/wiki/Post-election_lawsuits_related...

and ctrl+f "standing" = 16 results (6 cases).

Bowyer et al. v. Ducey et al.

Wood v. Raffensperger et al.

Pearson et al. v. Kemp et al.

Feehan et al. v. Wisconsin Elections Comm'n et al.

Texas v. Pennsylvania et al.

Gohmert et al. v. Pence

ctrl+f "laches"

Tyler Kistner et al. v. Steve Simon, et al.
This is really nice. I'll definitely check it out.
https://support.google.com/maps/answer/18539?co=GENIE.Platfo...

Get the coordinates of a place

On your Android phone or tablet, open the Google Maps app .
Touch and hold an area of the map that isn't labeled. You'll see a red pin appear.
You'll see the coordinates in the search box at the top.
On the plus side it means buying a used EV is great value. I got a 3 year old leaf for £6.5k, and 3 years later 6 year old leafs sell for £6.5k. Even if not using it as a car I'd still have £5k of batteries
And slowly lose control over their business? What if they aren't publicly traded?
Every product has a defect rate and outraged customers are the most likely to post reviews. Therefore a product is likely to have an overrepresented proportion of negative reviews. This is a tricky problem to correct for. I'm thinking about this more in terms of Amazon reviews, where they perhaps factor in the rate of returns when deciding what and how many reviews to delete.
Absolutely! I'm not sure why you replied to my comment with this but I totally believe that Facebook doesn't have any legal or moral requirement to host anything they don't want to. They could literally just punt me tomorrow because they don't like my name and that's their right. Especially because there is no commercial or contractual relationship between us. I am not a customer of Facebook.

If you pay for hosting then you have a contract and then you and the company you're buying from are beholden to those terms.
Until your family suffers the consequences or the side effects of FB, you will ignore the critics but I am convinces that most families will eventually experience the side effects.
No, I know “enough to be dangerous” but not enough to be able to teach a well abstracted lesson about what goes on. It’s also just not very simple.

Here is a place to start:

https://en.wikipedia.org/wiki/Settlement_(finance)
Say you went to a restaurant on a day when their lettuce had salmonella and a bunch of people got sick and angry and then left 1* reviews on Yelp. Would you take them all down for the same reason?
Speaking for myself I perceive the app rating as a conglomeration of possible perceptions. On what that rating might reflect. You state it should reflect the apps functionality, but I feel that an App that doesn't do what I want, intuitively, is not a good app. Some rate it high because the font is so lovely. I think in the end a one dimensional numbers falls short to describe the plethora of thoughts that go into creating a rating, that can be given on a whim.
Not GP, but the reader included in Calibre would fit.
Of course, they have the right to do whatever. What is interesting is the timing. Why is Facebook comfortable demonstrating to what extent they are somehow linked to wall street? That's just an odd choice, I wouldn't have made a connection between them if they hadn't actively moved to harm their own brand in order to protect markets. That should ring alarm bells regardless of legality.
When I switched from Robinhood, I just sold all my holdings to avoid transfer fees... that was 2 months ago
Thanks, that's a great explanation of what I probably the most likely outcome.

Humor me for a second - what happens the the (unlikely event) they ALL hold until it hits $10,000, and the "infinity squeeze" really does happen?
The stock dropped right after they banned buying. It would have kept going up otherwise.
Depends on how you define 'wrong'.

The purpose of the stock market is asset allocation, to ensure capital is used efficiently. Companies with high stock prices can issue shares to invest in their business when needed. People are voting with their money for companies to live or die. In that sense, certain forms of 'manipulation' are indeed wrong as they decrease capital efficiency in the system.

You can argue that the stock market has ceased to function this way already, but to that I'd say: two wrongs don't make a right.
The people who are currently short have to buy, they have no choice.
That seems so unreasonable to me. What could that person's app have possibly done better to receive a better rating?! Do you blame people who are doing the best any human can do in their position when they have absolutely no control over anything?
Is it not also possible that the shorting itself influences the direction of the stock/performance of the company? I'm not sure you can make a statement like you're making. There, to me, is not a direct cause/effect relationship here.
TD Ameritrade restricted buying from users not on margin.
First they came....
https://mobile.twitter.com/SawyerHackett/status/135488686165...

Edit: better link

Is that fabricated, or did Robinhood really sell someone down against their will?
Are wsb members also subject to the jailing for market manipulation? If not why not? The behavior of certain members is closer to the classic definition than anything the brokers have done.

I’m not an impartial player. I’m largely disgusted by the pass the insiders at wsb have gotten for their part in a recent market condition that is going to cost retail traders tons of money before this is done. It looks exactly like the mobbed up boiler rooms we used to see in the markets just transitioned to new technology.

I’ve in the past worked for hedge funds and prop trading firms but none implicated in any of this (they mostly don’t exist anymore). I have no current position in GME (I made $0.40 this week pretax trading GmE shares on Robinhood). I’ve traded on Robinhood for a few years after leaving the trading industry but more than 99% of my trades and positions are in vanguard indexes.

I’ve not worked for a trading desk, hedge fund or prop trader in more than 5 years and don’t have any outstanding trades, agreements or contracts in place that I know of.

What else would you like me to clear up before you impugn my reputation more?
They can also trade run of the mill securities in large quantities without moving the market or making known that a large position shift is happening.
We aren't saying "this app isn't good at trading stocks"
We're saying this company is not good at trading stocks.
The review section should be an honest forum for the app and the service the company can provide through the app. Do you really expect the common person to point out if the app made followed the fundamentals of UI/UX design? The review is to express users' experience, which can involve poor app design and/or poor service.
seems to be fine on my end?
Sounds like an add for defi
And on removing features from Google Maps.
Here I thought the entire point of the App was to trade stocks and yet you couldn't do exactly that. A bad rating is warranted.
This makes sense. Why is this coming from a random person on HN instead of Vlad?
First time I see that one! Incredibly relevant, 5 stars
This explanation is unsatisfactory. If clearing stock trades were the problem, RH could have limited buy orders to fully cash-secured transactions only.
That makes total sense.
It seems they got a taste of power and like it. Zucked.
Of course it applies here. The problem with Facebook doing this is that it diminishes their brand, product and trust users have in the platform.

Re: Robinhood, it is a completely different story. What Robinhood did in this case is market manipulation. They only allowed people to sell the stock and not to buy it. That is (I think) illegal.
if i have to pay $0.01 for those fuckers' bailout i am going to flip
I'm not sure what you mean. What stock promoters and revolution?
Then it's just a war of attrition.

It seems crazy to me that we have two bands of people warring over fake money in what could only be equally illegal ways.
> All of this is to say...it seems like HN model of how retail financial markets work is like super efficient APIs that transact like magic plumbing.

Exactly, just because it's abstracted away doesn't mean it isn't there. What else can this startup be other than a client application to a service that isn't theirs?
should be the other way around - buy calls and sell puts.

that said, options usually are available a few days after the ipo, so may not accomplish the objective
Many of them constantly suffer the consequences already but the street is not in it for protecting them. The street wants their cash into their own pocket.
A small, delayed avalanche may have been responsible for the Dyatlov Incident
That’s the narrative they’re using to convince new players to hold the bag. It’s not true, though.

Do you really think Redditors are YOLOing thousands of dollars into a stock with the understanding that they’re going to lose most of it? Are they really spending thousands of dollars on some laughs?

No, they’ve been convinced that this trade is free money. They’ve also been convinced this money is coming from evil bad guys, ignoring the influx of cash from fellow Redditors.
> At Gmail's launch, Hotmail was offering only 2MB of free space, while Gmail was offering 1GB. At the time, that was a game changer, and how they captured a good chunk of the market.

The 1GB storage was so ridiculously large, that many assumed it was an April Fool's joke (also because GMail was launched on April 1st).
I got over this by having teammates who regularly asked for help in Slack. Suddenly, it felt very acceptable for me to do so. Our #dev channel is full of my coworkers and me asking and answering questions for everybody to see that we all need a nudge in the right direction from time to time. I think when that stuff gets hashed out in DMs or in other less public places, the new devs don’t realize it’s happening.
"Don't be evil" has aged really well.
Yes, but that still has absolutely nothing to do with a private company having the right to make their own business decisions.

The ACTUAL different is that since it doesn't cut across political lines, you want to treat the situation differently.
They pay the trolls...

It's interesting that this phenomenon is obvious in a commercial situation, but rarely considered in political situations. Are we sure that the activists most salient to social media are anything like the groups they claim to represent?
Either way, it would be illegal to say that they closed their position for the sake of influencing the market. The SEC really doesn't play around with that type of thing in such a high profile case
I'm not sure what you're referring to - the tax break that was passed objectively saved regular folks money.

• The double-digit percentage decreases in average tax liability started with a 12.5% drop for people making $15,000 to $20,000 a year. Double-digit percentage reductions in liability continued for people making $25,000 to $30,000 (down 11.2%) through $100,000 to $200,000 (down 10.96%).

• Taxpayers making between $40,000 and $50,000 a year had the largest fall in average tax liability, a 14.5% drop, while high-end households making between $250,000 and $500,000 had the second largest decrease, with a 14.4% liability reduction.

• Taxpayers making at least $1 million had a 4.3% decrease in average tax liability.

Source: https://www.marketwatch.com/story/this-is-how-much-american-...
My comment had nothing to do with either group. Just one particular article I read, nor did I find it through reddit.

If someone showed me an article that made definite claims based on verifiable evidence about what Melvin did, then I would revise my opinion.

But I kind of think that it's hard to be sure because any standard disclosure has a significant lag.
Ask HN: Who here had a long week?
I had a long week, I feel like it's Friday. If you had a long week, let's all rant here and take tomorrow off. Maybe talk about what you're gonna do this weekend, if you have it off.
Crypto space is working on it.
> multiple free desktop and mobile book readers exist

Under many circumstances, some I've been in, none of those are an option, and a browser is all you've got.
> Robinhood again transparently loans you the money while waiting for the stock trade to settle.

Well, kind of. If you use the proceeds to do another stock trade, that second trade also settles T+2, so it doesn't require RH to put any of its own capital up.

(Options settle T+1.)
The system is rigged. Next we will find out Google Ventures invested in RobinHood. 100k bad reviews is a lot in recent days perhaps many were bots? I dunno
Jack Steinberger Obituary
> Do you really expect the common person to point out if the app made followed the fundamentals of UI/UX design?

What? No. I expect them to say "it looked like my GME orders were submitted, but I don't see them going through", or things like that, if such problems existed. You don't need to be a UX expert to review a poor UX. But when the store asks you "is this app good at trading stocks" and you say "no it's awful, and I'm also not saying this app isn't good at trading stocks", you're not answering the question they're asking.
Wow, that's in the official docs? I do this all the time, but I always thought of it as a janky workaround.
Here’s the email I got from Tastyworks:

> Apex Clearing, who acts as the custodian of all tastyworks accounts, has informed us that the following symbols (AMC, GME, & KOSS) will be set to closing only order status immediately. You will only be able to submit orders to close out any open positions that you have in these symbols.

> New opening orders will not be accepted at this time. We will update our clients should the clearing firm lift the Closing Only status in the near future.
Give it a few years. I'm still skeptical that Tesla should be worth more than all the other auto companies combined.
Does anyone know how long these kinds of reviews last until passed? Getting into this will be a bloodbath, and I wonder if it'll be with or without notice.
The can't.

The price is fueled not by holding a stock, the price changes when the stock sells. The current blitz is being fueled by Johnny come lately bag-holders.

At some point the buyers will run out, the price will go down and the only ones left will be the broke bag-holders.
So I am going to play a TRUMP card here on billionaires pushing conspiracy theories.

Thank you, I will be here all day.