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How Robinhood became an obsession - Wall Street power moves - Gorman's big raise

Finance. Here s a rundown of the must-know stories from the past week: Lee Ainslie tells investors Maverick Capital is poised to take advantage of the post-GameStop-frenzy How The inside track on the next big innovations in IPOs and direct listings Read our roundup of Wall Street power moves If this email was forwarded to you, sign up here to get your daily dose of the stories dominating banking, business, and big deals. Advertisement Generation Robinhood: How the trading app conditioned inexperienced users to obsessively play the market The app aims to make trading easy and fun for a simple reason: The more users trade, the more money Robinhood makes. The startup s business model, in fact, is based in large part on what is known as payment for order flow (PFOF) - taking the buy and sell orders that users place and selling them directly to large trading firms.

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