Wall Street has long been likened to a casino. Robinhood, an investment app that just filed plans for an initial public offering, makes the comparison more apt than ever.
That’s because the power of the casino is the way it makes people feel like gambling their money away is a game. Casinos are full of mood lighting, fun noises and other sensory details that reward gamblers when they place coins in slots.
Similarly, Robinhood’s slick and easy-to-use app resembles a thrill-inducing video game rather than a sober investment tool. The color palette of red and green is associated with mood, with green having a calming effect and red increasing arousal, anger and negative emotions. Picking stocks can seem like a fun lottery of scratching off the winning ticket; celebratory confetti drops from the top of the screen for the new users’ first three investments.
But just as people can lose a lot of money gambling at the casino, the same thing can happen when you trade stocks and bonds – sometimes with disastrous consequences, such as ..
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