20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative

[gentlemand]

Honestly, we need to teach children at a very young age about economics.

Agreed, but this is waaay beyond what would ever be taught in conventional education.

Robinhood is designed from the ground up to appeal to people who otherwise would never have traded. It's on them to hold their hand every step of the way. There are an awful lot of ways to screw up and in this case to believe you screwed up.

The designers will have known users would be shown a giant negative balance while the trade was open. I would've made sure the user had pressed a big flashing button giving an explanation and saying 'do you understand what this means and why?' before showing to them.

They can't account for everyone's emotional state but at least make it clear as possible what is happening at every relevant moment. If I hadn't informed myself or been informed I certainly would've shat a brick briefly too.

[btc_angela]

This is a prime example of not weighing out the risks. Leverage in trading works in both ways, so if you're prepared to go all in without even being bothered about the consequences well I'd say that's complete foolishness. No amount of money is worth a life.

There was no risk at the moment he killed himself. He was fine and his balance was positive. It was a misunderstanding on his part and a failure of the site to make things clear enough.

Right, he is very young that's why he can't take seeing his balance going negative. I'm sure he might know the risk, but perhaps he reacted the wrong way and yes, the failure of robinhood to clear about those balances reflecting on your account. I agree on what @tbterryboy teaching our children at a young age about economics, I think a simply savings will be good for young kids specially today.

[Jating]

Can Robinhood though has some liability here? It seems that the victim saw negative balance but the article it is just temporary but this could have triggered everything. If Robinhood display it real-time, this could have been avoided?

YES! I believe it should be on Robinhood. They took the risk of giving an unemployed 20 year old "almost a million dollars" in leverage, that could not pay the negative $730,000.

damn the kid just decide to kill himself while not really a real negative balance?   not familiar with robinhood but if they can be sued for this tragic death, it would help the future platforms to also follow a standard.

the kid started trading at this early years of his life, he could be learning a lot and will likely be a pro before 25. but that wouldn't happen now because of the gui that robinhood provided.

This is how I see things here, there is some liability on the part of Robinhood and I'm sure they know this sort of short comings or some error that this platform has provided. I for now things that this is how they designed their system in the first place.

This kid has really a bright future, there's a lot of "If's and "could have" if he grow and become a veteran trader, sadly it was cut short and it's really a tragedy.

[South Park]

Honestly, we need to teach children at a very young age about economics. I understand that studying mathematics, history, geography, science and all other stuff at school is very very important but we should add economics at a very young age as well.

You know what my school had? Economics "branch", we had these branches like first aid branch, history branch basically extra curriculum stuff that each student would pick, it wasn't a class but it was a extra stuff that you did time to time outside of school class hours.

Well, I was in the economics branch and I could say that from age 7 I have learned the importance of saving whatever you can, even if it is 1 dollar, always try to buy everything as cheap as you can, and that helped me out a lot in life. If we could have simple economics class from very early age to end of high school, everyone would be smarter with their money.

While I agree why do you think this is not the case? After all it is not as if economics is an incredibly complex topic if we compare it to math, chemistry or physics, so why governments do not do it? And the answer is simple, this is by design.

They do not want smart people making all kind of questions about why the economy works the way it does, they want sheep that follows orders without any questions and for that you need people to be ignorant about the topic and believe it is something only Nobel Prize winners in economics have a chance of understanding.

Once this is achieved they can do whatever they want with the economy and yet the population will never protest about it since they do not have an understanding about what is happening.

[carlfebz2]

Can Robinhood though has some liability here? It seems that the victim saw negative balance but the article it is just temporary but this could have triggered everything. If Robinhood display it real-time, this could have been avoided?

YES! I believe it should be on Robinhood. They took the risk of giving an unemployed 20 year old "almost a million dollars" in leverage, that could not pay the negative $730,000.

damn the kid just decide to kill himself while not really a real negative balance?   not familiar with robinhood but if they can be sued for this tragic death, it would help the future platforms to also follow a standard.

the kid started trading at this early years of his life, he could be learning a lot and will likely be a pro before 25. but that wouldn't happen now because of the gui that robinhood provided.

This is how I see things here, there is some liability on the part of Robinhood and I'm sure they know this sort of short comings or some error that this platform has provided. I for now things that this is how they designed their system in the first place.

This kid has really a bright future, there's a lot of "If's and "could have" if he grow and become a veteran trader, sadly it was cut short and it's really a tragedy.

For sure they are aware and there is indeed some liability on their part and i can say that kid was just too rushed up on doing things without even trying to verify everything if its purely a loss or
some technical glitch or problems for that do raise up into that certain extent.

Well, its quite understandable that when it comes to dealing up with investment or on economic side which do particularly deal of with these kind of mess and if you are really not aware
of such then you wont simply able to tell to yourself on what would you gonna do if you were in his foot.

[BreachOfEuphoria]

Such a shame 

Article in the Sunday Times about this today -

https://www.thetimes.co.uk/edition/business/the-trading-apps-accused-of-turning-stocks-into-a-game-kpz68kp0h

http://archive.is/Uw72b

It reemphasises that the $730,000 was a temporary figure and he was actually in the black throughout.

Very tragic that he killed himself over this. Maybe he had other problems that we or the author of the article did now know about.

Rest in peace
Alex Kearn

[mersal]

That a huge amount to bare for him that is why he decided to quit his life, first all why people have to such risk if they are not ready face the negative consequences.Before doing anything in our life we need to double check whether we have to do it or not but if you decided to go but in the half way you don't want then people will consider ourselves as a weak human to live.

[rexxarofmoknathal]

I don't get why people trade on such high leverage, they're just asking to be rekt. I also don't think that platforms like Robinhood shoud allow positions to fall into negative balance... They should much more stringent margin call requirements when trading on such high leverage, and only allow the least volatile assets to be traded on leverage at all.

Either way, why kill yourself over it? They can't get blood from a stone, just go bankrupt.

[gentlemand]

I don't get why people trade on such high leverage, they're just asking to be rekt. I also don't think that platforms like Robinhood shoud allow positions to fall into negative balance... They should much more stringent margin call requirements when trading on such high leverage, and only allow the least volatile assets to be traded on leverage at all.

Either way, why kill yourself over it? They can't get blood from a stone, just go bankrupt.

Do some actual reading, people. The sad irony is that he wasn't at any point in the actual red. He misinterpreted what was shown to him and freaked out accordingly. Robinhood did not design or inform correctly.

[el kaka22]

It is always sad when someone's dies, it is even more sad when someone dies way too young, and it is even sadder when someone so young takes their own life. Dude probably had some sort of personal problems as well with his emotions, after all not everyone who loses money goes out and commits suicide, most of them just continue to live and somehow find a way to pay it back or if not even go to jail or get their things possessed or whatever happens but usually doesn't commit suicide as the first thing in their mind.

This dude probably had some psychological problems way before any of this happened, and when he reached to this much debt he couldn't saw a way out and a way for a good life and instead of living a life where he pays debt until he dies and has a horrible life because of it, he decided to end it instead.

[rodskee]

That a huge amount to bare for him that is why he decided to quit his life, first all why people have to such risk if they are not ready face the negative consequences. Before doing anything in our life we need to double check whether we have to do it or not but if you decided to go but in the half way you don't want then people will consider ourselves as a weak human to live.

The young guy decided to take his own life as he can't handled this kind of loses,
taking the risk while you are not mentally ready.
The kind of situations where you should taking to the account, preparing yourself
facing this kind of risk.
If only Robinhood manage to explained everything properly to this young men
the chance that he won't take his own life.


His awareness and full understanding to what is happening to his investment
might saves his life.
If only all detailed information was provided, this kind of act might be avoided.

[Rebisco]

That a huge amount to bare for him that is why he decided to quit his life, first all why people have to such risk if they are not ready face the negative consequences. Before doing anything in our life we need to double check whether we have to do it or not but if you decided to go but in the half way you don't want then people will consider ourselves as a weak human to live.

The young guy decided to take his own life as he can't handled this kind of loses,
taking the risk while you are not mentally ready.
The kind of situations where you should taking to the account, preparing yourself
facing this kind of risk.
If only Robinhood manage to explained everything properly to this young men
the chance that he won't take his own life.


His awareness and full understanding to what is happening to his investment
might saves his life.
If only all detailed information was provided, this kind of act might be avoided.

Many traders think that trading is just using technical and fundamental analysis, they are not aware that trading psychology is also important when it comes to trading. I met a lot of trader before who actually think to take their own lives just because they lose in trading, yes it is true but they managed to overcome it by visiting psychiatrist and psychology. When we do trading, we should be aware on what is our emotion. Actually most of the professionals are recording it because trading psychology is really important. Mental health is a factor in order to become successful in trading.

[Rosilito]

It is always sad when someone's dies, it is even more sad when someone dies way too young, and it is even sadder when someone so young takes their own life. Dude probably had some sort of personal problems as well with his emotions, after all not everyone who loses money goes out and commits suicide, most of them just continue to live and somehow find a way to pay it back or if not even go to jail or get their things possessed or whatever happens but usually doesn't commit suicide as the first thing in their mind.

This dude probably had some psychological problems way before any of this happened, and when he reached to this much debt he couldn't saw a way out and a way for a good life and instead of living a life where he pays debt until he dies and has a horrible life because of it, he decided to end it instead.

He took what was been displayed wrong. Yeah, this might be the most unfortunate incident. Because he took his own life out of dismay of what was being showed, in which, apparently he had not in the first place.

And yeah, he might have some problem prior to the incident, I couldn't believe that money (in his perspective) weighs more than his own existence  . And to add, he's not the type of guy that fits in such industry, neither to spineless people. They easily get bothered with those circumstances, and would dare to commit morally wrong behavior  .

[Twinkledoe]

It is always sad when someone's dies, it is even more sad when someone dies way too young, and it is even sadder when someone so young takes their own life. Dude probably had some sort of personal problems as well with his emotions, after all not everyone who loses money goes out and commits suicide, most of them just continue to live and somehow find a way to pay it back or if not even go to jail or get their things possessed or whatever happens but usually doesn't commit suicide as the first thing in their mind.

This dude probably had some psychological problems way before any of this happened, and when he reached to this much debt he couldn't saw a way out and a way for a good life and instead of living a life where he pays debt until he dies and has a horrible life because of it, he decided to end it instead.

He took what was been displayed wrong. Yeah, this might be the most unfortunate incident. Because he took his own life out of dismay of what was being showed, in which, apparently he had not in the first place.

And yeah, he might have some problem prior to the incident, I couldn't believe that money (in his perspective) weighs more than his own existence  . And to add, he's not the type of guy that fits in such industry, neither to spineless people. They easily get bothered with those circumstances, and would dare to commit morally wrong behavior  .

He was young and his perspectives might not be so mature when it comes to financial aspect. If you are not really strong, you can be easily damaged with life's troubles. But as you grow older, you gain wisdom and that's when you start realizing about the realities of life and so you can face life in a different approach.

[RealMalatesta]

I am not going to say that the full responsibility is based on robinhood about this issue but maybe there should be a little bit responsibility given to them as well? I mean they allowed a guy who didn't had any money at all to rack up 700k in debt and maybe they shouldn't have allowed something like that? If they could just allow people to never really take out a loan or give them a chance to make movements more than they can afford, this wouldn't have happened.

Everyone talks about the suicide point of view but this just showed us there must be a lot of people out there who got into robinhood and racked up debt that they couldn't pay and robinhood allows people to trade with money they do not own. If we could pressure them to not allow that at all, maybe we could save people from going into debt as well.

[Yatsan]

This was really indeed a very sad and tragic scenario of a teenager getting himself killed because he suspected himself having a very large debt flashed on the screen of his mobile phone because of the interface problem. It maybe have gotten into his mind the fear of not being able to claim the earnings he supposedly be expecting to have that day after a long run of trading but instead of seeing good results it turns out that the interface of the site was mistakenly being interpreted by the victim which might due to depression and fear have decided to kill himself.

This is really an important issue to take a clarified conversation most specially for people who wanted to enter trading that you must get yourself familiarize first on the site you were using to avoid the same thing of mistakenly interpreted information flashed on the screen. Also with the site, may they make it just simple to see what even the newbies can easily understand for they might get into the same situation like the death of the victim.

It might be a problem on the interface of the site indeed but before doing trading or even investing you must always remember not to get along with your emotions and do not let such thing drive things that you do to avoid emotional breakdown that can lead to a tragic end of one's life. May this serve as a lesson specially for newbies to let yourself have full education of what you were doing and do not let yourself be drowned because of some failure coz it teaches you a lesson to do better the next time around.

[Shasha80]

Hopefully the suicide incident as happened to the 20 year old Robinhood customer will not happen again. Hopefully this tragedy can become
a lesson for all of us, especially newbies to first learn all the features on the websites where we trade. So there is no misunderstanding.
My advice for newbies is always to use money that we can afford to lose, not greed over us when trading. So even if we lose money, it won't
be stressful. And we are more ready to accept if we suffer losses.

[bearexin]

I cannot also manage that problem so maybe if that thing happens to me, I am also going to kill myself so it is better if you don't start trading until you learn how to trade in a right way and how to manage your money. If you feel you are losing, stop trading and continue tommorow with a great start. I hope that something like this will be no more happen. If there will be another case like this, maybe the users are going to scared on using crypto currency and that will be a big reason for mass adaptation to occur on a longer time.

I agree the situation was extreme, but I would just like to say one thing that suicide is not the solution to anything. You cannot weigh life with money its priceless. This isn’t the case with just the crypto market, previously many people have committed suicide even due to losses occurring in shares/stock market. It doesn’t affect the market or makes people scared to be honest it just gives them an alarm on what could happen if you aren’t careful.

I still hope we don’t hear such heart breaking news again. Trade with caution, choose healthy coping mechanism even if you lose and don’t be greedy. When you are having confident about getting more opportunities in coming days then you will never need to be frustrated when you're facing losses. So, we must need to understand that this world is too big and the opportunities are really unlimited for everyone.

[Oceat]

Hopefully the suicide incident as happened to the 20 year old Robinhood customer will not happen again. Hopefully this tragedy can become
a lesson for all of us, especially newbies to first learn all the features on the websites where we trade. So there is no misunderstanding.
My advice for newbies is always to use money that we can afford to lose, not greed over us when trading. So even if we lose money, it won't
be stressful. And we are more ready to accept if we suffer losses.

It is not really something that you could learn from their features as what I have read it was the UI's fault that the RH didn't actually put some disclaimer/warning that there might be a little problem if there's a delay on their system. As myself maybe I will felt the pressure if that's going to happen to me but taking my own life is just too much. That's why we really need to know everything in trading to fully understand if there might be some kind of a problem like in RH UI.

[KrisAlex18]

This was really shocking how an interface error can kill a 20 year old teenager for mistakenly interpreted on how the data about his trades have been shown on the site of the Robinhood. It is somehow a clear incident of how you must properly know the trading site you were using to avoid misinterpretations and misunderstanding of the data presented on the screen of your device. Before doing trading, you must better know first the site you would be using just to make your safe familiar about the whole thing so that if ever there is something that you have changed is that you can turn it back to avoid confusion.

Maybe what happened is that because of mix up emotion of excitement and nervousness of expecting a high income on the trade he have done that turns out to be presented on a different manner he got so confused and have been frightened on what to do with the negative value he was seeing on his screen. It might be a clear thing on how emotion of a person can affect his behavior and decision making. May this tragic incident won't happen again to other newbies out there and to be a reminder to better know your trading site first, and avoid getting caught up on doing decision making driven by emotions.