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Apple.
Yes, Apple launches its savings account with one point four point one entry.
Now.
Apple has launched its Apple Card Savings account, offering a four point one five percent annual percentage yield APY with no minimum deposit or balance requirements. Users can set up an account through a wilet app on their iPhone. Daily cash rewards earned through the Apple Card will automatically be deposited in the savings account, and the users can change the destination of their daily cash or AD funds from
their bank account the bank. The account is launched through Goldman Sacks and a collaboration with Goldman Sacks and offers a higher APY compared to the average national rate of zero point three five percent. So the average is zero points set five percent and Apple is coming in with four point one percent. But it's only for Apple cardholders.
Yeah, Yes, can I go crazy real quick? Yes? About you banking, healthcare, fintech.
We'll talk about quantum sciences later, quantum computing. There's only a few categories of business that matter, So of course if I was CEO of Coinbase, I would be concerned. If I was the CEO Robinhood kudos to Flat, I would be concerned. One point eight billion people have iPhones, so even if they only get a fraction, let's say ten percent of people to use the products, so one hundred and eighty million people while banks are collapsing.
I said this on stock Club earlier.
You have to decide if your business thrives when there's quantitative easing and a bunch of money flowing around, which is like a hype beast type company, or if you do best in a recession. Meta Facebook came out doing
a recession. Apple was launched in a recession. So was Microsoft. Now, with the trust that they built over forty years and all the users, you don't think that they're going to take market share away from Bank of America Wells Fargo City while teaming up with one of the best banks, Goldman, and I'll be interested to see if JP Morgan then turns around and does a partnership with someone to kind
of offset this. And thus in this release, I don't know how to frame it any simpler, Like in every category you want to go see where Goldman ranks.
Amongst the banks. They didn't do this with w Kovia back in the day for a reason.
Right, stay focused on the top two, top four in the sector. But the easiest strategy involves two tech two index. If it's it's a valuable sector or segment of the market, they are going to deploy capital there to eat up market share.
And for everyone who's like, yes.
Capital one has one at four point six, UBS has one and five percent. Most people in the United States have no fucking clue who UBS is. Most people are not going to go to Capital one. This is a numbers game. Let's stop making it so complicated because I want us to get rich instead of talking about getting rich.
Right, actually actually have actually have a Capital one account? You do me too, I mean, but the check capital one. I'm looking at my notes, Respectlet.
You just you nailed it, man, right, Like there there are savings accounts that have higher yields.
Right, that's great, that's great.
Right, I think that the four point one five percent is like eleventh according to bank rate.
But here's the thing, Right, the.
Ten banks that are in front of them number one, you probably don't know seven of them. But here's what they don't have They don't have one billion people the right like they have one billion and growing and growing at any point. But when we talk about financials, think about how one business helps the next.
Right.
So, in order, like she says, right, in order for you to have the savings account, you have to have the Apple card. So in the past six months, right, the Apple card has done well. Right after that they have they obviously have Apple Apple Pay. But last month, surprisingly nobody made no noise of it, but they put out there pay now.
Save labor, save later applications.
So if you think about these three things, like we got to pay now, buy now, pay later, you got the Apple card, Now you've got a great savings account, how do banks now respond?
Right, if the big four are.
Only providing you with point three five percent, how do they respond?
Collaborate with collaborate with Google Collection? Well, I think, are you done?
Yeah?
So I think that this is an interesting story of a lot of different levels. But what strike what what I saw? The first thing that I saw was the power of collaboration is what I always talk about all the time.
And it's like.
This the number one technology company, the number one company in the world. Let's say tech company right teams up with arguably the number one investment bank in existence.
Yep, it makes sense.
Apple has mastered technology, but they have not mastered financial services. Gold Mien Sacks Well, gold min Sachs has mastered financial services. So what's the easy way to fast track your way into financial services? To partner with the best in the business. Right, So they best in the business, and.
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Obviously are gonna, you know, take care. On the financial side, Apple has the technology. It's a win win for everybody. I think Goldman Sachs is a company to watch IM out of this. Everybody's talking about Apple, but what about Goldman Yeah? Right is there is a product as well? So I feel like this is something that's extremely important. Goldman Sacks didn't fight to have their name on it. Right, this is this lessons in here, like this lessons in here,
Like you're partnering with somebody, you see the value. Okay, I'm gonna come under your umbrella. That's a humbleingk Goldman Sack does is a billion dollar into multi billion, hundred billion dollar situation. They don't have to do that, but they see the value in the partnership. I'm trying to. We're trying to convince regular people to partner and they they can't even agree on making a social media post. You get even you can't even come to an event.
And they running trillion dollar entities and they coming together. You're fighting over small things at the highest level of business, at the highest level. This is how business is done, collaboration. This is why I keep saying it over and over again. But some people get it. Some people don't get it. But for me, I thought it was extremely a smart move for Apple. I think that this is going to
really be beneficial for them. I think that this will this will really put them more in the space of the financial services and everything that they do is just like you know, one brick at the time, whether it's healthcare, whether it's you know, rumors that they're going to get into the automotive space. They took over music. Absolutely, they took over music the entire industry. So it's like, you know,
Apple is just it's wearables, is there? Here's the concern at what point does it become a monopoly and government breaks it apart.
The great part is Apple, Google, and Microsoft have such a symbiotic competitive relationship that they'll always find a way at the same time to dominate a market at the same time where enough of them share enough of the market share to not get monopoly chargers. I think they learned a lot from Bill Gates. So if they go first and then Microsoft goes second, because if you don't
think that the CEO don't talk, they do. There's a reason why Microsoft got opened API and then Google push forward will bard even though they have the technology first. Say with Microsoft, Microsoft initially had a iPad before Apple did. No one just wanted it. For Microsoft, they had a nineteen ninety six. Then Apple becomes prominent, then Windows make
the push. So I think they're going to team up enough to make sure they have enough market share what they can dominate, but they'll share with each other till no one can get that the monopoly thing pushed against them. And I truly believe at one point, Apple will be the number one technology company while being the number one healthcare company, and while being the number one financial services company in the world.
Give it.
It's like cause it's like Rockefeller at one point. Rockefeller did everything right and it was like this as it's just when you become so big, now you start to put so many different targets on your back, and you know, you got government regulators, you got the competition, you got people that want to break you apart, even the phone companies. That happened with the phone company and they broke the phone companies apart. And now Apple is the biggest company
in the history of the world. So if they try to break Apple, that's going to be hard.
But it's just consumers want it.
Yeah, the brand recognition is so strong that.
Can you do too many things at one time? If you do, they found a way to do the right things well.
If you're doing well right, like the wearables by themselves billion dollar business, they've they've done it well into healthcare. It's still I mean, it's kind of premature right now.
Right they have the Apple Watch.
They haven't really released what they're doing with the information yet, but I'm sure there's a plan in place so you get when they get into the EV space. The brand recognition will allow it to have errors but also allow it to grow exponentially as well, which is interesting. Most businesses don't have that where you can have and grow at the same time because people just trust the brand
so much. That's why when you look at it, people if they know that they can just have an Apple Card number one, it's like, yo, you're part of a society. Like when I apply it, this is this is crazy. When you apply for it, they're not just taking anybody. Yes, your credits calld got to be a seven thirty just to have the Apple Card, so you can't even get
the savings the crowd. So you're thinking about they're getting credited people with high scores, right, and usually when people have high scores that means they're financially responsible and so those are the type of people that you.
Want, and they prefer better people at higher scial and this is a well played people break them up. Let's say if you broke off the app store, the app store is still going to get thirty percent of every business in app store, and if we collapse Apple, it will collapse the entire stock market. Apple and Microsoft is really the only thing keeping the stock market to float right now. Two players is keeping everyone afloat. So you're in a
damned if you do, damned if you don't situation. Break up the company in smaller pieces and they'll dominate the top fifteen or keep it together, and it's the stock market afloat. Why we're happy to issue with bricks.
My graduates from my school being forced back, drop bags, drop Mike, drop backdrop drop earners.
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