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Posts & Investments - #tipping

Benjamin Wallsten
@1humanatwork

There’s really interesting (possibly pro-social) behavior around taking losses and #tipping on #public 🤔 It’s reasonable to expect a tip on a profitable trade, but how often do you tip on a loss? 🫰📉 #polltime #bigideas

💯 always12.38%
🤷 depends on the trade40%
🤔 never thought about it31.43%
💭 you can tip?16.19%
105 votes Ended 07/05/22
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Invested in Netflix
#dca #tipping
Tipped
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Added Procter & Gamble to Watchlist
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Invested in Cardano
My second #crypto investment on Public. I will say, I like #tipping better than I like #fees . So keep tipping if you love Public.
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#Tipping #TradeFees So there is an elephant 🐘 in the room that we probably need to talk about ... and it is the simple fact that #Public is a business and nothing is ever free. Please see this link for how they make money - https://help.public.com/en/articles/3701324-how-does-public-make-money. This post is certainly probably going to end w/ me getting some egg 🍳on my face 😅 ... so I hope the last month has given me enough credibility for people to at least read to the end w/ an open mind before putting me on blast. Trust me it would have been much easier for me to not rock the boat 🚣 on this issue ... "A rose 🌹 by any other name would smell as sweet." A trade fee by any other name is still a trade fee. While tipping is optional, it was cleverly called "tipping" so that it implies that this should be standard practice or customary, and that anyone that doesn't is being cheap. As a platform that caters to retail investors likely w/ smaller amounts to trade w/ at a given time ... the idea of tipping can seriously erode the ability to build wealth. An individual brokerage is already at a disadvantage to Roth IRAs as they are subject to short and long term capital gains taxes ... now add on potentially 1-2% cost as stealth trade fees and then this really can hamper the goal of Public's mission to accelerate people's prosperity. Lets say that you have $100 to invest in Stock A and you tip $1 as part of the buy order - this means 1% is already gone. Now lets say that the $100 grows to $110 and then you sell it to realize you $10 or 10% gains but as part of the sell you tip again $1. Effectively in buying/selling you have paid $2 for an investment of $100 for a total of a 2% trade fee. I'm a high income earner (and I'm not saying this to be a jack a..) ... I would never pay $200 or 2% on a $10,000 investment ... so why would I expect anyone else here on Public to pay $2 on a $100 trade. So this is why I fundamentally have an issue w/ tipping as a revenue source for Public. I think this platform offers an exciting opportunity to boost engagement amongst people that typically stayed away from the stock market as well as improve financial literacy - these are the reasons that keep me here, spending my time building content. This brings me to the next point. Effective Feb. 1, 2021, Public moved away from PFOF as a source of revenue which maybe what spawned tipping. I'm not sure, I'm a little over 1 month into Public so I don't have historical context. The other forms of revenue are by securities lending via Apex ... which is problematic for the #ApeCommunity (maybe allow users to shut off lending of specific stocks ex: $AMC instead of blanket stopping lending - could be a nice compromise) and 0.2% interest earned off of uninvested cash balances (maybe move some of your money from sitting in a checking not making money to here making Public money). Realistically none of these aforementioned revenue sources seem like a great long term business model for sustainable growth and building out of Public. Which leads me to the poll - as a current free user of Public would you rather continue w/ Optional Tipping or switch to something else such as Subscription Fee (paid by user/individual revenue) or deal w/ in app advertisements (paid by external revenue) or something else? P.S.: Please don't shoot the messenger 🙏 ... 🤢🤮 this is totally going to backfire on me somehow #StrawPolls #InconvenientTruth

Tipping57.75%
Subscription Fee11.63%
In App Advertisements22.09%
Other8.53%
258 votes Ended 08/10/21
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