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BigTech going after TradFi (Patreon)

Published:
2023-04-18 00:26:56
Imported:
2023-04

Content

Last week we saw Twitter rebrand to X and partner with the Israeli-founded online trading company eToro to allow its users to trade stocks, cryptocurrencies and other assets.

This week we have Apple!!!! Goldman Sachs has partnered with Apple to introduce a new savings account that offers a 4.15% yield. It's worth noting that this yield is lower than what's offered by money market funds and is 1% lower than the current 3-Month Treasury Bill Yield of 5.21%. Despite this, many people are unaware of these differences and are likely to show a strong interest in Apple's new product.

Think of the reach and integration with the iPhone.... as Sanjay says CONVENIENCE IS THE MOTHER OF ALL CARELESSNESS

That being said, may end up being a bate and switch and once rates fall again the GS rates on the Apple card could fall down to 1%... but even that is better than this crap


Comments

Anonymous

Wasn't it a short while back where holders of the Apple card backed by GS was in the news ....I forgot exactly why but either no one making there payments or very high interest rates....or both....thanks

Anonymous

PayPal also has 'Savings' offering 4.15% APY

Anonymous

I used to have an eToro account…they were awful for me….no advanced trading (don’t even think they had limit orders), couldn’t withdraw your crypto, super limited selection of assets. Just BUY, SELL, DEPOSIT, WITHDRAW buttons. But this is exactly suited for the masses. So, while I was first reacted to the news with a , I later decided maybe it’s not all that bad.

Anonymous

Nuts, eToro doesn't work in MN yet.

Whiteness

Check out the MaxMyInterest services. It’s like a modern banking system that easily opens and manages multiple accounts for you with checking and easy access to many higher yield savings options and it automatically adjusts your money around to optimize it and keep enough for your bills in checking. My bank (a regional bank, my employer) is one of its main partners and I trust my money there. One of their high yield savings partner options has a great rate AND both FDIC and DIF insurance (hint, hint!)

Anonymous

SO IS AAPL A BUY NOW???

Anonymous

Sanjay is clever. Good quote

Anonymous
>>106589550

Funny story... people bash RH but the spread is way better than Coinbase and the wallet sends crypto easily... surprised they are not working with Twitter

Anonymous
>>106589550

Maybe eToro is desperate to hitch their wagon to a platform that is a guaranteed win. Just not sure what attracted Apple to eToro….maybe eToro sold their soul to Apple to get the deal? Agreed, RH would have been a better contender on current platform competence.

Anonymous

CONVENIENCE IS THE MOTHER OF ALL CARELESSNESS……this is super true about computer security.

Anonymous

"New data shows #Coinbase CEO Brian Armstrong dumped over $1.8 million worth of the company’s shares this month, so far. The majority of the recent sales were also within 24 hours of the SEC announcing an investigation into the firm. Not suspicious at all..." https://twitter.com/WhaleWire/status/1648158894957510657

rscx
>>106589550

Apple and Etoro have no connection, apple partnered with Goldman Sachs. Twitter (Elon) partnered with Etoro.

rscx

Signed up this morning it was super easy, but what I see a lot of people skip over on the news is you have to already have the apple credit card. Which isn’t very adopted. I think this is more of a play to adopt the credit card. Which I will admit I like better than most of the others I have. Apple’s wallet app does make it easy to use.

Anonymous

Good riddance to the banks.

Anonymous

I am amazed taken so long as Apple clearly has loyal and captive iPhone audience whom would probably buy anything Apple including services like this