The digital age is ever changing. Ever changing and ever opening new doors to new opportunities. Ever since the invention of the smartphone, there have been numerous developments in the realm of apps.
Several ideas which span from dating apps to games have been thought up and implemented for years now. I’m sure at first people had their doubts about what a phone could do all on its own. But today we see things being accomplished that were thought to be impossible back then.
If we wanted to, we could get on our phones and tell random people we think they are attractive and if they thought the same then we would be notified (Tinder), we can call someone and share video feed allowing us to see the person we are talking to, and vice versa, in real time (video call on Messenger and Skype),we can share photos with however many people we’ve added as friends on our phone and give narrative to those photos (Snapchat), and we can even use augmented reality to catch virtual creatures in the “real” world via GPS tracking (Pokemon Go).
Yes indeed, we’ve come a long way from simply calling people, but our road does not end here. No, in fact the possibilities are even greater today than they were before.
So, let’s take a look at one of those possibilities that is growing as we speak. Who would have ever thought that you could buy and sell stock at the touch of a button on your phone? Apparently the creators of the app Robinhood thought just that.
The firm Robinhood Markets Inc. was founded by Vladimir Tenev and Baiju Bhatt with hopes of creating a way that people could buy and sell stock commission free. It was launched and acknowledge in early 2014. Statistics show that it’s primary users are millennials (people between the ages of 18 and 29). As of this year, the company has executed over $30 billion in trades.
I even use the app on my own phone. It’s easy to use and understand while at the same time keeping you informed on the stocks you’re interested in. My friend introduced me to the app and we have a friendly wager of who can profit the most in terms of percentage after 3 months time.
I must admit that I never would have imagined buying stock on an app on my phone. Not to mention that my circle of friends would use it as well. The times we live in are riddled with possibilities and every year something more incredible happens. Also, it seems like the underdog story is being told a lot these days.
So many people have utilized their creativity and modern technology to throw wrench after wrench into the expectations of older generations.
The implications of this app are found in the very nature of business and technology. It is no new idea that the way people conduct business would irrecoverably be affected by the innovation of technology. Business can be conducted quicker and over longer distances.
While you may contend that one man buying stock isn’t necessarily business, it is, to a certain degree, a matter of personal finance. And as such it is also irrecoverably affected by technology.
Other companies and apps will surely take advantage of the opportunities that new technology will give them. It’ s a competitive world out there, especially in the world of startup companies that utilizes new tech. But competition breeds progress after all. The end result is the general populace being able to use apps and tech that will revolutionize our day-to-day lives.
Evidently this app was an appealing idea on the part of the creators. So far, Robinhood has raised over $175 million in venture capital funding. As of April 2017, Robinhood had a $1.3 billion valuation.
There is no doubt that this app will continue to grow and flourish. More and more people will continue to hear about it. The dream of making tons of profit through the use of the stock market is now only a few taps away. It’s all thanks to the app Robinhood and its creators that this is possible.