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Module Four Ethics and Robinhood

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Intentional Engagement

Learn how to regin the power of the hooked model to ensure your firm applies it both ethically and strategically

Ethics

All design is a form of manipualtion. It changes our desires to meet the designers needs. It manipulates your feelings to the designers feelings.

Persuasion is great manipulation. It is a form of manipulation that customers enjoy.

The opposite o0f that is Coercein

Robinhood - turned investing into gambling. Robinhood clients were trading way too risky

Ethical Checklist

  1. Consider the most vulnerable populations. Huge rise in high school use of ecigs Pathological gamblers or addicted Ask what can be done to protect these users.
  2. Enact a use and abuse policy. If it is used to omuch you could offer help - Lazdbrokes and Coral offers stakes limits and credit checks
  3. Apply the regret test It is only ethical to design interactions that the user would want to use. Usability testing Would you use the product without regret knowing everything the product desinger knows?

Key Takeaways

  1. Coercion most often affects repuation negatively - Entain vs Juul
  2. Manipulation exists on a spetcrum of good to problematic

Ethics: Robinhood

One in 5 americans started to get into investing because of interest in bitcoin Customers eager to make moeny Robinhood used aggressive tactics to attract inexperienced traders.

  1. Doesn't support vulnerable populations incentivizing novice users to take high risk trades by luring them in with free trades Trading velocity way outpaced every other trading platform They did try to add learning tools I guess 66% traders were approved for options trades

Key Takeaways

  1. Be transparent to gain trust
  2. Consider incorporating a regret test