Robin Hood, a new type of asset management cooperative, is setting up shop in Berlin with a temporary office from November 11th-13th, and is open for participation on how to rethink financial services, such as estate finance and cryptoequity, as a means of organization.
The minor asset management idea stems from Akseli Virtanen, who is building a historical bridge to Nottingham Forest. Back then, Robin distributed the money from the rich. In the information age, Robin is redistributing financial data from traders.
“Robin Hood is a cooperative that seeks to maximise the return on shares to its members. Because of our unique structure, our operating costs are very small compared to normal asset management offered by ordinary banks and their private banking. We don’t need leather sofas nor locations in the high-end streets. We are the first “cheap bank” of asset management. However, there are still costs.”
Anyone can invest, with help from data mining computers and algorithms, who imitate deals from traders, essentially trying to beat them at their own game. One rather notable return on investment is that you give away 50% of your profits to Robin Hood Projects – the idea is to support creatives who have less access to financial markets. You can call it business activism or a disruptive financial service, and it’s just getting started.