20yr old boy kills himself seeing a debt of 700k+ usd in an trading account.
But here is the story, he did not actually owe that but lead to believe he did.
The balance displayed in red, as Forbes explained, may not have represented uncollateralized indebtedness at all, but rather a temporary balance until his option trades settled.
“He thought he was exposed, he thought that ending his life would protect his family from the exposure,” Bill Brewster, a cousin by marriage and an analyst at Sullimar Capital, told CNBC in a phone interview. “He got on his bike and never came home.”
“This is investing, this isn’t a game. It’s people’s lives,” Brewster said.
“How was a 20 year old with no income able to get assigned almost a million dollars worth of leverage?” the note reads. “There was no intention to be assigned this much and take this much risk, and I only thought that I was risking the money that I actually owned.”
Source: Bill Brewster, Kearns family
“I’d like them to fix the way that they’re showing exposure — I want them to act like a financial platform should act,” Brewster said. “When you’re dealing with retail money and actively soliciting traders under 30 years old to have errors like this is inexcusable and at the minimum negligence.”
Robinhood trading platform later announced to roll out new improvements to the UI. Also it said to make better in-app and messaging.
Designers have a responsibility to design with intention regarding mental and emotional well being.
What are your thoughts ?
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