An Update from Robinhood’s Founders
I know quite a few people that were personally affected by this and lost money due to the two outages and they are all pulling their money from Robinhood. The fact that they can't offer any compensation might be a big problem for them, since they already have zero trading fees, which is what most brokerages offer as compensation.Personally it doesn't pass the smell test for me. The load was much higher the previous week and load problems go away once the load disappears. They probably had a lot less load the rest of the day, so the fact they were down the entire day suggests it was something else. I would need a fully transparent post mortem before I believed anything they said.