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Robinhood's Big Gamble | The New Yorker


Cartoon by Pat Byrnes
By that spring, Alex Kearns, a twenty-year-old student at the University of Nebraska, had been using Robinhood for about two years. The app had permitted him to trade options just months after he opened his account. Kearns grew up in Naperville, Illinois, with his sister and his parents. His father is an I.T. professional at a financial-services firm. The family was close. Kearns was known as an anxious but positive young man who played trombone in the high-school band, received a school-spirit award, and joined the R.O.T.C. at Nebraska, where he majored in business management. Kearns’s cousin-in-law Bill Brewster, a professional investor, told me that he’d spoken with Kearns that March. “He was happier than I’ve ever seen him,” Brewster said. ....

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Why do you use your phone so much? It's like gambling and heroin combined


January 24, 2021
Tech companies can mine big data to determine exactly what keeps us glued to our phones, making social media, games and other apps ever more addictive.
South China Morning Post
Walking, reclining, dining, playing, commuting, shopping: people around the world read their smartphones regardless of where they are or what they’re doing, unable to tear their eyes from their screens regardless of whether they’re on a crowded street or working out at the gym.
Adam Alter, an author and professor of marketing at New York University’s Stern School of Business, believes modern technology has never been so “efficient and addictive”. ....

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Arrow's Paradox in the age of social media


Arrow’s Paradox in the age of social media
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Shortened attention spans, relentless messaging, and the mechanics of elections make for an incendiary mix
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Shortened attention spans, relentless messaging, and the mechanics of elections make for an incendiary mix
The mechanics of all elections are flawed. Each country has different rules regarding its voting systems, and each set of rules is necessarily a compromise. Some countries use ‘first past the post’ systems, while others use electoral colleges. Yet others use referendums where two choices are pitted against one another, such as the Brexit vote.
The influence of the minority ....

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