SoFi is trying to be where to go when you take your gains from yolo’ing on options to get a mortgage, establish a will or a trust, etc. Business strategy 101 would lead to SoFi needing to answer the question “how does this help us win?” in achieving their mission/vision.

Building out a top notch options trading experience that 0.x% of users will use, build out customer support, support additional margin and credit risk operations teams, etc is not what SoFi seems to be focused on. Setting up a simple long-term equity or crypto trading product line is easy in comparison. In order to justify that investment, they’d need to feel confident about user growth, cross selling opportunities, the level of risk if they to don’t do this well, etc. all relative to other things they can be doing. They just bough Galileo last year which speaks a lot to their long-term strategy. I agree with whoever suggested an acquisition as the most likely scenario.

I appreciate what Robinhood has done in terms of UX, growth hacking, lower fees, etc. but there are currently a handful of other companies that provide as good or better investment and trading experience. I signed up for a Fidelity brokerage account years ago since I had a 401k through them and didn’t encounter any issues whatsoever in buying a bit of GME and AMC last/this week or with daytrading and buying LEAPs in the past. Order fulfillment has been great as well.