This is pure evil, using the speculator's neurochemistry, the dopamine reward pathways, to extract even more money from them.
From The San Francisco Business Times, January 18:
Robinhood Financial LLC, the California-based online brokerage, has agreed to pay a $7.5 million fine, overhaul its digital engagement practices and take steps to increase cybersecurity in order to settle a 2020 case brought by Massachusetts securities regulators.
Secretary of the Commonwealth William's Galvin's office argued that the Robinhood app used "gamification" techniques to entice users to make stock market trades, including many users with little to no experience trading. Galvin said the company exposed Massachusetts residents to "unnecessary trading risks" without developing the necessary infrastructure to protect them.
Robinhood filed a consent order with Galvin's Securities Division settling the case Thursday.
His office pointed to the company's use of push notifications, confetti animation, digital scratch tickets and other game-like features to draw users in. Robinhood stopped using many of these techniques after complaints arose. However, as part of Thursday's settlement, "Robinhood will cease any future use of celebratory imagery tied to the frequency of trading, push notifications highlighting specific lists, and features that mimic games of chance" for Massachusetts customers....
....MUCH MORE
Previously:
Want to Make Big Money? Engineer A Little Addiction Into Your Product
Gamification: It's Definitely Not Fun and Games
Engineering Addiction Into Your Product: Lessons From the Professionals
The pros in this case being the gaming gurus at Gamasutra, November 13, 2017:
Compulsion Loops & Dopamine in Games and Gamification....
Engineer a Little Addiction Into Your Product - Redux
My work here is done.December 15
From Dilbert.com:
December 21
There are three more in the series, very topical.
