Trading platform Robinhood suffers another outage–on one of the most volatile days the stock market has seen

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Markets are crashing on coronavirus fears, but Robinhood users are unable to trade stocks due to another outage. Robinhood, the app-based trading platform popular with first-time investors, is currently suffering an outage resulting in users unable to make trades. Robinhood itself confirmed the outage in a tweet admitting “trading is currently down.” Read Full Story

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At last, you can become a shareholder in a Birkin bag or a Lamborghini

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Rally enables regular investors to buy and sell shares in high-end collectibles. Crafted from individually selected Nile crocodile scales in cream and gray, Hermès’s Himalaya Birkin is one of the world’s rarest handbags, fetching more than $100,000 at auction. Rally cofounder and CEO Chris Bruno wants you to own one—in part. Rally, which launched in 2017, acquires high-end collectibles—Birkins, Porsche convertibles, Rolex watches, even first-edition Harry Potter novels—and allows people to buy and sell shares in them via an app, as if the items were public stocks. Investors—including Rally, which invests up to 10% in each collectible—can make money by selling their shares as an item gains in value, or if the treasure is eventually sold for a profit. (Rally registers each item as a security.) The app’s average investor—there are currently 10,000 total—is 28 years old and owns shares in four different Rally-managed assets. The company has held offerings …

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Amazon stock clobbered as Jeff Bezos outlines COVID-19 impact, tells investors to ‘take a seat’

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Today, we got our first look into how online sales at Amazon.com have benefited from the coronavirus pandemic and its economic consequences. Today, we got our first look into how the COVID-19 economy is impacting the world’s largest e-commerce platform, and I’ll spare you the dramatic windup: Yes, Amazon saw a huge increase in sales as brick-and-mortar competitors were forced to shut their doors and people became trapped in their houses with nowhere to go. Read Full Story

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I run an accelerator. Here are 4 things startups can learn from rejection

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Understanding why a venture capitalist rejects your startup can help founders build better businesses. When I pitched my first startup to angel investors and VCs, I was often told they were concerned that I didn’t have a cofounder. This feedback drove me nuts, because it wasn’t for my lack of trying. I didn’t know many people who had the startup bug back then, and certainly fewer who could afford to work without pay. So I decided to forge ahead alone. Read Full Story

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