Brian Fung | @[email protected]

Brian Fung | @[email protected] @b_fung

Citadel: It'll be crazy complicated, but we're headed toward real-time settlement! [Bitcoin has entered the chat] — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Had to step away for a quick TV hit -- what'd I miss? — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Schulp, a former FINRA official, says she doesn’t see evidence of market manipulation on WSB. “I do think the SEC should look," she said, "but to this point I see very little that would meet a test for manipulation, which generally invovles falsely deceptive behavior." — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Tenev addresses the case of the Robinhood suicide: "I'm sorry to the family of Mr. Kearns.... it was a tragedy and we went into immediate action" by taking steps such as changing the customer interface and "adding options education" and adding live human support. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Rep. Andy Barr going after Robinhood -- Tenev insists that "Robinhood played this by the books" and did everything it had to to stay within the bounds of regulation. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Or maybe more accurately on r/photoshopbattles — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Rep. Stivers’ green screen will become meme material on WSB in 3… 2… https://t.co/AEpHF7CRmk — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Kind of remarkable that in a hearing analyzing how well the markets really serve retail investors, that there's only been one question so far seeking input from a retail investor on how well the system serves people like him. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Gill gets a question, and handles it very diplomatically by returning to his main talking point: He likes the stock. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

@TonyaJoRiley I asked NSC yesterday to make the list of 9 agencies public. They declined. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

You could say that, in terms of the ratio of words said to message conveyed, Gill's testimony delivered some deep fucking value — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

I don't think Keith Gill has gotten a question yet. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

I wish that Sherman had let Griffin finish. If the size of the order is a major factor in determining who gets priority, and most Robinhood orders are small, then it seems relevant to Sherman's question if Robinhood orders get filled *after* larger orders! — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Did Sherman just call Griffin a "schmuck"? — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Rep. Brad Sherman is now turning to the business relationship between Robinhood and Citadel, and the execution of trades. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

More Vlad: "I apologize, and I'm not going to say that Robinhood did everything perfect, and that we haven't made mistakes in the past." He vows to learn from the experience so the mistakes aren't repeated. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Falling a bit behind here but Robinhood's CEO apologizes for communication failures with investors, after Rep. Maloney pointed out how RH's explanations to traders in the moment didn't mention anything about its deposit requirements. "I'm sorry for what happened." -- Vlad Tenev — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Chair Maxine Waters is setting the tone for this hearing by going after Robinhood's CEO -- interrupting him, demanding he answer questions in a yes/no format, and using other hostile tactics. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Keith Gill: "I am not a cat." He is also here live. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Reddit's CEO says there is no evidence that WSB was itself manipulated and that the subreddit was "well within the bounds of our own policies." — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Melvin Capital's CEO defends his company's short of $GME: "Absolutely none of Melvin's short positions are part of any effort to artificially depress or manipulate downward the price of a stock." — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Citadel's CEO flatly says: "We had no role in Robinhood's decision to limit trading in GameStop or other meme stocks." — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Robinhood CEO: "We don't answer to hedge funds," explaining that its trading restrictions were the result of deposit requirements. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Our liveblog for today's $GME / Robinhood hearing is up now — and it's where you'll be able to catch our pregame stream. Follow along here for all our updates: https://t.co/UxRGuC094B — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Dark AF — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

RT @geoffreyfowler: 🔥 from @Cat_Zakrzewski: Facebook ads “repeatedly committed to work collaboratively with legislators on the future of I… — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

@aedwardslevy i’ll allow it — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

This is especially the case if you accept Facebook’s claim that news makes up only a tiny proportion of the news feed. If that’s true, what was already a small fraction of people’s experience will not be missed by users, but the result will be a loss of pushback on misinfo. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

Aside from any effects due to bad PR for Facebook, I think Australians will largely continue to use Facebook as much as always. Because between doing nothing and doing something, it’s usually far easier to do nothing. Humans absolutely LOVE to do nothing. — PolitiTweet.org

Brian Fung | @[email protected] @b_fung

This is where statements #1 and #2 ultimately conflict. One is aspirational; the other reflects an existing reality. Network effects and inertia are powerful things, and they’re what made Facebook big in the first place. That fundamental dynamic isn’t going away. — PolitiTweet.org