Author:EeeVee
Original title: Robinhood press conference, why is it promoting the "old money trend"?
Last night, Robinhood's product launch in Cannes was very popular. What was quite dramatic was that this genZ Silicon Valley brokerage, which started with the core concept of "retail investor friendliness", arranged a large number of "old money aesthetics" visual elements at the launch site. This strong image contrast quickly sparked heated discussions.
Related reading: " Robinhood's high-profile product launch in Cannes this summer completely ignited the competition among on-chain brokerage firms "
At the beginning of the show, a shiny antique convertible sports car drove along the winding mountain road into the Château de la Croix des Gardes estate. At Robinhood's latest Cannes show, guests dressed in elegant gentleman's clothing, as if they were at a private dinner party for wealthy people in the middle of the century. And all this is not accidental. This show, named "To Catch A Token", is paying tribute to Hitchcock's 1955 classic film "To Catch A Thief".
To Catch a Thief was filmed at the famous Château de la Croix des Gardes in Cannes. Historically, the French Riviera region where Cannes is located has always been a playground for the "old money" class in Europe: British aristocrats built villas here in the 19th century (such as the Rothschild estate), and Hollywood stars and royal family members frequently visited in the 20th century. The Château de la Croix des Gardes estate is a local landmark mansion, and it has also been recorded in history because of the movie "To Catch a Thief", becoming a popular holiday resort for the upper class.
This time, Robinhood held the press conference in the same location and used similar visual elements, obviously intending to use the film's artistic conception to cleverly place its innovative financial technology products in the plot of "global plans brewing under the shadow of traditional wealth." On the one hand, the symbols of "old money" (antique cars, castles, dresses, gold watches) symbolize the long-standing wealth tradition and status symbol, creating a stable and trustworthy tone; on the other hand, the press conference launched cutting-edge products such as cryptocurrencies and on-chain stocks.
This financial technology feast staged in the "temple of old money" conveys the story that the brand wants to tell: behind the old world of wealth, a "thief" of the financial future is quietly taking action. It also interprets Robinhood's consistent mission - "to steal the wealth opportunities that used to belong only to the rich and hand them over to the public."
From a thief to a noble, Robinhood’s “old money” metamorphosis
At the end of the movie "To Catch a Thief", the protagonist was transformed from a former thief into a hero, cooperated with the police, and finally became an aristocrat. This transformation is exactly the message that Robinhood has recently conveyed through its brand vision and product upgrades.
Young grassroots
In its early days, Robinhood gave people the impression of a disruptive startup: zero-commission trading, colorful confetti animations to celebrate successful transactions, and an emphasis on "making it easy for young people to trade stocks." The brand's tone tended to be young, grassroots, and internet-based. However, as the business developed, Robinhood's user structure and needs have quietly changed.
According to analysis, the average assets of new Robinhood users in the third quarter of 2024 have jumped to about $100,000, approaching the core customer circle of traditional brokerage giant Charles Schwab. This means that many wealthier and more serious investors are beginning to enter the Robinhood platform. Their needs are far more than just "one-click buying and selling", but they expect to obtain more comprehensive and professional financial services.
Low-key luxury
In Robinhood's new visual system, the previous cartoon color tone was abandoned, and the design style was changed to black and white neutral tones and exquisite and refined. This "Quiet Luxury" aesthetic orientation coincides with the low-key dignity of the "old money" class. Michael Goodbody, vice president of marketing, pointed out that the company's new vision is "an external reflection of the maturity and growth of the business", aiming to create a modern and elegant image, accept more serious investors, and serve as a reliable home for future generations of investors. It can be seen that Robinhood is no longer satisfied with being an entry-level stock trading app for young people, but hopes to establish a sense of trust and authority similar to that given to customers by traditional brokerages.
This shift is also reflected in Robinhood's recent product strategy. The company has begun to launch high-end user services, such as lower margin loan rates, cash management functions, retirement accounts and advanced analytical tools, and even issued a gold co-branded credit card for high-end customers. These initiatives are essentially moving closer to the all-round wealth management model of traditional brokerages. In the past, Robinhood jokingly described the difference between the two types of investment groups as "poor people borrow money to invest in stocks, and rich people manage assets." Now Robinhood obviously hopes to break this stereotyped division and build itself into a comprehensive investment platform that "takes care of both the poor and the rich."
A thief eventually becomes a hero, and "the once unruly newcomer in the financial industry will eventually grow into a steady and sophisticated elder." Robinhood's press conference adopted the visual style of an old-fashioned aristocratic atmosphere in order to announce to the outside world: We are no longer just a playground for young retail investors, but a trustworthy and more mature financial platform that is capable of serving high-net-worth customers.
Who is hit by the narrative of crypto ‘aristocratization’?
The “old money style” visual narrative used by Robinhood for this press conference cleverly tells different levels of stories to different audiences:
European and American encrypted users
First of all, this conference is essentially Robinhood launching a series of crypto products (on-chain stock tokens, L2 blockchain, perpetual contracts, etc.). Cryptocurrency enthusiasts and practitioners in Europe and the United States are the main audience.
For this group of people, Robinhood hopes to convey two messages: first, the traditional financial and crypto worlds are merging, and Robinhood is standing at the intersection to play a bridging role; second, Robinhood provides high-end, reliable crypto services, rather than a wild speculation platform. After all, after experiencing the turbulence and regulatory storms in the crypto market in recent years, crypto users are paying more and more attention to the security and compliance of the platform.
Robinhood's solemn and old-fashioned image can give these users more confidence. "We understand both the new trends of Crypto and the rules of traditional finance." Robinhood President Vlad Tenev emphasized this at the opening of the press conference.
In addition, the choice of Cannes for this conference echoes Robinhood's international layout. In recent years, Robinhood has been seeking to expand beyond the United States and expand its business globally, especially in Europe. The content of this conference focuses on the European market (such as launching on-chain US stock tokens in 30 European countries, launching crypto perpetual contracts in the EU, etc.), and is hosted by its EU subsidiary. Choosing France in Europe to hold a high-profile event shows Robinhood's emphasis on and commitment to the European market.
This is in stark contrast to its announcement of entering the UK in 2019 but then postponed the plan - at that time, for various reasons, Robinhood failed to start its business in the UK as planned. Now that it has entered the continental European market through its crypto business, Robinhood needs to show its sincerity and strength to European users and regulators. In the EU financial landscape, London and New York are financial centers, but Cannes, as an internationally neutral and symbolic stage, avoids falling into the cliché of a financial center. It gives people a more global feel, transcending political and economic disputes, giving the press conference a sense of "world tour".
As Vlad Tenev said at the press conference, Europe's clear crypto regulation has paved the way for innovation, and the United States will eventually follow - this is actually endorsing Robinhood's global expansion. The press conference was held in Europe and with great fanfare, just to declare to the world: Robinhood is no longer a local company, but is actively embracing the international market.
Young high net worth people
This visual style is also aimed at a group of emerging high-net-worth young people, such as the "new rich" who have risen through technology entrepreneurship or crypto investment wealth. They are young but have considerable assets, are familiar with Internet culture and yearn for the traditional elite lifestyle. The so-called "Old Money" aesthetic is popular among this generation.
For example, a video of an influencer wearing a blue pinstripe suit and driving a 1962 red Alfa Romeo convertible on the shores of Lake Como has received millions of views on social media. This fantasy of aristocratic life is a reflection of the prevalence of the "old money style" aesthetic. Robinhood created a similar scene at the press conference, which undoubtedly resonated with this group of young wealthy people. Raising the brand's status in the minds of young high-net-worth customers - using Robinhood is not only a financial choice, but also a tasteful lifestyle choice.
Traditional financial institutions and investors
While Robinhood primarily serves individual investors, the narrative of this launch may also be aimed at an institutional audience - potential partners, investors and regulators.
In the financial circle, the "old money" style is often associated with stability and credit. Robinhood's high-profile launch of new businesses in Europe is not only a declaration to the traditional financial community of its ambition to enter the international market, but also a public relations tool to demonstrate its professionalism and compliance. The press conference was hosted by its European subsidiary and held under the European regulatory framework, and invited heavyweight guests such as the co-founder of Ethereum to dialogue. In the context of a global roadshow, this "face-saving" performance is to show institutional investors and regulators that Robinhood is working hard to play the role of a responsible market participant, not just a synonym for "retail investors banding together", and conveys its strong financial resources and long-term planning to potential strategic partners (such as local European banks and exchanges).
In general, Robinhood's visual and narrative strategy this time kills three birds with one stone: it not only inspires ordinary users' imagination of noble wealth life and enhances brand appeal, but also appeases high-net-worth users' requirements for platform credibility, and also caters to the traditional financial circle's preference for a stable image. By packaging new financial technology with old money elements, the communication effect is maximized.
The "old money sentiment" of the financial upstarts
Robinhood is not the only company trying the "old money style" or similar aesthetic reversal strategies in marketing. In Web3, Fintech and even the broader Internet industry, in recent years, there are many brands that borrow elements of the old aristocracy and American upper class to achieve unexpected communication effects. The logic behind this is: by introducing high-end traditional elements that are in stark contrast to their original tonality, they create topicality and brand freshness. Here are a few cases worth comparing:
BAYC (BAYC): Web3’s Noble Club Irony
BAYC is a well-known NFT project. Its brand concept itself is a parody and replication of the old money class. BAYC formed a "yacht club", which was originally a traditional social scene for wealthy people (private yacht club). BAYC used cartoon ape images to give this typical "old money" symbol a new meaning, creating a digital club that only crypto nouveau riche can join. As a result, this NFT series with the tone of an aristocratic club was a great success, attracting many celebrities and wealthy people to buy it.
Tuxedo Society: Monetizing Nostalgic Aristocracy
Not only in finance, a number of new brands have emerged on the Internet that specialize in selling the "old money lifestyle." For example, Tuxedo Society, founded by Italian youth, is essentially a luxury travel membership club that claims to take members to experience traditional parties and vacations in the upper class. The founders are not from real famous families, but they have been fascinated by the rich life portrayed in movies and TV shows such as "Gossip Girl" since childhood, and have a special liking for old-school gentleman styles such as "wearing a suit to go to a nightclub."
Through platforms such as Instagram, they have created an elaborate "old money fantasy" to attract wealthy millennials who are also eager for this experience to sign up for high-priced travel activities. The club has held balls in a 16th-century palace on the shores of Lake Como, and helicoptered members to ski in St. Moritz and taste caviar and champagne. These scenes sound like gatherings of European aristocrats in the last century, but the participants are the new generation of wealthy people. The success of Tuxedo Society shows that "old money" as a cultural commodity can be packaged and sold by new brands. This coincides with some marketing in the Web3/crypto field-the products sold are future technologies, but the stories told are old feelings.
What does a modern-day Robin Hood want?
In general, in the marketing of emerging technologies today, the "old money style" is becoming an aesthetic trend worthy of attention. Robinhood's bold embrace of the old money aesthetic is largely based on its judgment of its own user structure and industry trends, and is a natural move. From the effect, it has indeed caused widespread discussion in the industry, and it is another successful application of the old money aesthetic in financial technology marketing.
In the field of Fintech, some companies have also tried to incorporate luxurious and restrained tones into marketing to reach higher-end customers. For example, when some Internet brokerages and digital banks launched metal credit cards and premium membership services, their advertisements often imitated the style of private banks: black background, low-key luxury texture, elite lifestyle scenes, etc.
Robinhood itself emphasized in the Robinhood Gold premium account advertisement launched in September 2024 that it would provide ordinary investors with "products and interest rates that only the super-rich could enjoy in the past." This advertisement uses a newly upgraded visual system, with simple and calm tones and refined and advanced images, to shape Robinhood into a platform that provides "exclusive treatment for big investors."
The "old money style" visual strategy that Robinhood pursued at its latest press conference was a multi-dimensional and carefully planned one. From the perspective of brand communication, it dramatically conveyed the company's image transformation from a rebellious newcomer to a mature mainstream; from the perspective of consumer psychology, it captured people's trust and yearning for traditional symbols of wealth and created a unique sense of identity; in terms of financial technology positioning, it conformed to the upgrade of its own user structure, indicating the direction of business extension to high-net-worth services; drawing on historical cases, this aesthetic reversal of using the old to highlight the new has been proven to be effective under certain conditions.
The choice of Cannes as the venue for the launch event cleverly anchors all of this in the coordinates of internationalization and cultural heritage, adding a strong touch to Robinhood's global ambitions. It can be foreseen that Robinhood's future marketing and products will continue to revolve around the theme of "giving the privileges of the old rich to the new generation" - inheriting the essence of traditional finance and insisting on financial democratization. This "old money style" launch event is a microcosm of this strategy, and the logic and thinking behind it are enough to provide many inspirations for the industry.
