Robinhood Plans To Launch a Startups Fund Open To All Retail Investors (techcrunch.com) 21
Robinhood has filed with the SEC to launch "Robinhood Ventures Fund I," a publicly traded fund designed to give retail investors access to startup shares before IPOs. TechCrunch reports: While the current version of the application is public, Robinhood hasn't filled in the fine-print yet. This means we don't know how many shares it plans to sell, nor other details like the management fee it plans to charge. It's also unclear which startups it hopes this fund will eventually hold. The paperwork says it "expects" to invest in aerospace and defense, AI, fintech, robotics as well as software for consumers and enterprises.
Robinhood's big pitch is that retail investors are being left out of the gains that are amassed by startup investors like VCs. That's true to an extent. "Accredited investors" -- or those with a net worth large enough to handle riskier investments -- already have a variety of ways of buying equity in startups, such as with venture firms like OurCrowd. Retail investors that are not rich enough to be accredited have more limited options. There are funds similar to what Robinhood has proposed, including Cathy Wood's ARK Venture Fund, a mutual fund which holds stakes in companies like Anthropic, Databricks, OpenAI, SpaceX, and others. [...] This new closed-end "Ventures Fund I" is a more classic, mutual fund-style, approach. As to when Robinhood's new fund will be available we don't know that either yet.
Robinhood's big pitch is that retail investors are being left out of the gains that are amassed by startup investors like VCs. That's true to an extent. "Accredited investors" -- or those with a net worth large enough to handle riskier investments -- already have a variety of ways of buying equity in startups, such as with venture firms like OurCrowd. Retail investors that are not rich enough to be accredited have more limited options. There are funds similar to what Robinhood has proposed, including Cathy Wood's ARK Venture Fund, a mutual fund which holds stakes in companies like Anthropic, Databricks, OpenAI, SpaceX, and others. [...] This new closed-end "Ventures Fund I" is a more classic, mutual fund-style, approach. As to when Robinhood's new fund will be available we don't know that either yet.
Robinhood that banned WallStreetBets (Score:2)
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This is great news (Score:2, Informative)
Venture capitalists can afford to lose lots and lots of money and make it all back on one big hit. Small retail investors can't do that.
Furthermore small retail investors generally aren't sophisticated enough to tell the difference between scam artists and actual businesses. Hell we just had a run of Chinese scam artists covered by the greatest rap channel on YouTube. One of them managed to pump their value up 60,000% before cashing out
Politics poisoned your mind (Score:2)
But with the current administration Jesus fucking Christ it's open season. If you're a scam artist it's like shooting fish in a barrel. As long as you keep a few million around for a pardon and make sure you do your crimes in a red state so there's a governor to bribe on the top of the president you are probably okay.
What any of this has to do with the current administration?
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Remember it doesn't matter if something is a crime if there's nobody enforcing the law.
Instead of going after a scam artists JD Vance and Donald Trump are now openly attacking left wing organizations full force of the Department of justice. Their words not mine.
Under those circumstances scam artists know they can get away with all sorts of crap.
If you have elderly relatives get ready to have them moving in with you
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And just another little tidbit, the IRS is no longer going to police tax scams used by the rich to keep their due to Uncle Sam. Think of it as el Bunko's payback for all his rich supporters. Now the Fed. Gov. can lose even more money in addition to the new Big Stupid Bill that rewards the same rich with more tax money.
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Which tax scams are those?
Here's a good one: When you need to pay hush money to a porn star so she doesn't talk about your mushroom dick when you're trying to gain political office, have your lawyer pay the hush money and then have your company reimburse the lawyer and write it off as "legal expenses". You gain twice, you don't have to pay income taxes on the hush money you are paying and your company gets to deduct the hush money amount.
Or here's another one, you have your company rent an apartment nominally for business purposes
It will of course still audit regular taxpayers (Score:2)
It's like the old saying goes, fascism requires an in group that the law protects but does not bind and in out group that the law binds but does not protect.
Lots of people who are in the out group seem to be under the mistaken impression that they are in the in group
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rsilvergun will always find a way back to orange man bad. If there is one sure thing on this planet, then it's that.
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The lottery and sports book are so much better.
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Just in time after DT closed suit against RHood (Score:2)
Over the early first three weeks of DT 2nd term, the SEC closed or paused a series of investigations into crypto firms, starting with a request for a legal pause in its suit against Binance, the worlds largest cryptocurrency exchange.
In a court filing, the regulatory agency said a new crypto task force, launched by acting Chair Mark Uyeda, may impact and facilitate the potential resolution of the Binance case, which originally accused the exchange of engaging in a web of deception.
And over the first wee
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And guess who is profiting off the shitcoin craze? el Bunko and his family and his dept. "secretaries".
Only the big banks backwash (Score:2)
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contra view = https://www.morningstar.com/funds/ro (Score:1)
contra view = https://www.morningstar.com/fu... [morningstar.com]