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Heres Michael Bolton sings on Checkout Flow Payment

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You know, when I think of the stock market, I don’t really think of Michael Bolton. But I guess Public, which refers to itself as the investing social network, was envious of Robinhood getting all the press attention, so he hired Bolton to revamp his 1989 hit How Am I Supposed to live without you. The new version is an order flow payment complaint, which was recently the subject of outrage on Reddit and a point of inquiry during a House hearing.

Bolton is absolutely solemn at first almost to the point of convincing me that this is a hostage proof of life video. But his voice is still as beautiful as he launches into the song. This isn’t the first time he’s made fun of his late 80s / early 90s image as a lover crooner; he did something similar to Panera with When a man loves a woman. In both cases he received a paycheck and has shown he has a good sense of humor. Good for him!

The controversial practice lamented by Bolton, payment for the order flow, which has recently been the target of Reddits fury. A market maker pays to see a portion of retail investor transactions; it could theoretically authorize the execution of commands upstream, but it’s illegal and also, separately, not very profitable for the market maker. (Most of Reddits’ anger assumed that leading retailers were the full payment point for the order flow.) Payments are part of the reason why apps like Robinhood can offer transactions for free.

And make no mistake, Public is aiming for Robinhood. After the outcry around Robinhood during the GameStop debacle, Public announced he would no longer engage in the payment of the order flow. Last week, a day before Robinhood was asked about payment for the order flow in a largely inconsistent House subcommittee hearing, The public announced they had raised $ 220 million. The next day, Representative Alexandria Ocasio-Cortez (D-NY) asked Robinhood CEO Vlad Tenev if he would commit to sending payment proceeds for the Order Flow to his customers, a question he asked. dodged.

To continue to pressure Robinhood, Public is offering to cover the cost of transferring your old brokerage to itself.

In a more entertaining second video, Bolton says, Hey gorgeous! You did it. Congratulations on breaking up with your brokerage house. It also says that once you’re on Public, you can follow it. That is true! Here is his portfolio. He hasn’t invested in Panera, it’s on his watch list, but Amazon, Apple, Disney, Peloton, and Spotify are all in his public portfolio. Well, investing in Spotify is probably a better way to make money than waiting for royalty payments.

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