Speaker 1: Money.
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Speaker 1: Apple.
Speaker 3: Yes, Apple launches its savings account with one point four
Speaker 3: point one entry.
Speaker 1: Now.
Speaker 3: Apple has launched its Apple Card Savings account, offering a
Speaker 3: four point one five percent annual percentage yield APY with
Speaker 3: no minimum deposit or balance requirements. Users can set up
Speaker 3: an account through a wilet app on their iPhone. Daily
Speaker 3: cash rewards earned through the Apple Card will automatically be
Speaker 3: deposited in the savings account, and the users can change
Speaker 3: the destination of their daily cash or AD funds from
Speaker 3: their bank account the bank. The account is launched through
Speaker 3: Goldman Sacks and a collaboration with Goldman Sacks and offers
Speaker 3: a higher APY compared to the average national rate of
Speaker 3: zero point three five percent. So the average is zero
Speaker 3: points set five percent and Apple is coming in with
Speaker 3: four point one percent. But it's only for Apple cardholders.
Speaker 4: Yeah, Yes, can I go crazy real quick? Yes? About
Speaker 4: you banking, healthcare, fintech.
Speaker 5: We'll talk about quantum sciences later, quantum computing. There's only
Speaker 5: a few categories of business that matter, So of course
Speaker 5: if I was CEO of Coinbase, I would be concerned.
Speaker 5: If I was the CEO Robinhood kudos to Flat, I
Speaker 5: would be concerned. One point eight billion people have iPhones,
Speaker 5: so even if they only get a fraction, let's say
Speaker 5: ten percent of people to use the products, so one
Speaker 5: hundred and eighty million people while banks are collapsing.
Speaker 4: I said this on stock Club earlier.
Speaker 5: You have to decide if your business thrives when there's
Speaker 5: quantitative easing and a bunch of money flowing around, which
Speaker 5: is like a hype beast type company, or if you
Speaker 5: do best in a recession. Meta Facebook came out doing
Speaker 5: a recession. Apple was launched in a recession. So was Microsoft. Now,
Speaker 5: with the trust that they built over forty years and
Speaker 5: all the users, you don't think that they're going to
Speaker 5: take market share away from Bank of America Wells Fargo
Speaker 5: City while teaming up with one of the best banks, Goldman,
Speaker 5: and I'll be interested to see if JP Morgan then
Speaker 5: turns around and does a partnership with someone to kind
Speaker 5: of offset this. And thus in this release, I don't
Speaker 5: know how to frame it any simpler, Like in every
Speaker 5: category you want to go see where Goldman ranks.
Speaker 4: Amongst the banks. They didn't do this with w Kovia
Speaker 4: back in the day for a reason.
Speaker 5: Right, stay focused on the top two, top four in
Speaker 5: the sector. But the easiest strategy involves two tech two index.
Speaker 5: If it's it's a valuable sector or segment of the market,
Speaker 5: they are going to deploy capital there to eat up
Speaker 5: market share.
Speaker 4: And for everyone who's like, yes.
Speaker 5: Capital one has one at four point six, UBS has
Speaker 5: one and five percent. Most people in the United States
Speaker 5: have no fucking clue who UBS is. Most people are
Speaker 5: not going to go to Capital one. This is a
Speaker 5: numbers game. Let's stop making it so complicated because I
Speaker 5: want us to get rich instead of talking about getting rich.
Speaker 3: Right, actually actually have actually have a Capital one account?
Speaker 3: You do me too, I mean, but the check capital one.
Speaker 3: I'm looking at my notes, Respectlet.
Speaker 2: You just you nailed it, man, right, Like there there
Speaker 2: are savings accounts that have higher yields.
Speaker 1: Right, that's great, that's great.
Speaker 2: Right, I think that the four point one five percent
Speaker 2: is like eleventh according to bank rate.
Speaker 1: But here's the thing, Right, the.
Speaker 2: Ten banks that are in front of them number one,
Speaker 2: you probably don't know seven of them. But here's what
Speaker 2: they don't have They don't have one billion people the
Speaker 2: right like they have one billion and growing and growing
Speaker 2: at any point. But when we talk about financials, think
Speaker 2: about how one business helps the next.
Speaker 1: Right.
Speaker 2: So, in order, like she says, right, in order for
Speaker 2: you to have the savings account, you have to have
Speaker 2: the Apple card. So in the past six months, right,
Speaker 2: the Apple card has done well. Right after that they
Speaker 2: have they obviously have Apple Apple Pay. But last month,
Speaker 2: surprisingly nobody made no noise of it, but they put
Speaker 2: out there pay now.
Speaker 1: Save labor, save later applications.
Speaker 2: So if you think about these three things, like we
Speaker 2: got to pay now, buy now, pay later, you got
Speaker 2: the Apple card, Now you've got a great savings account,
Speaker 2: how do banks now respond?
Speaker 1: Right, if the big four are.
Speaker 2: Only providing you with point three five percent, how do
Speaker 2: they respond?
Speaker 3: Collaborate with collaborate with Google Collection? Well, I think, are
Speaker 3: you done?
Speaker 1: Yeah?
Speaker 3: So I think that this is an interesting story of
Speaker 3: a lot of different levels. But what strike what what
Speaker 3: I saw? The first thing that I saw was the
Speaker 3: power of collaboration is what I always talk about all
Speaker 3: the time.
Speaker 1: And it's like.
Speaker 3: This the number one technology company, the number one company
Speaker 3: in the world. Let's say tech company right teams up
Speaker 3: with arguably the number one investment bank in existence.
Speaker 4: Yep, it makes sense.
Speaker 3: Apple has mastered technology, but they have not mastered financial services.
Speaker 3: Gold Mien Sacks Well, gold min Sachs has mastered financial services.
Speaker 3: So what's the easy way to fast track your way
Speaker 3: into financial services? To partner with the best in the business. Right,
Speaker 3: So they best in the business, and.
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Speaker 3: Obviously are gonna, you know, take care. On the financial side,
Speaker 3: Apple has the technology. It's a win win for everybody.
Speaker 3: I think Goldman Sachs is a company to watch IM
Speaker 3: out of this. Everybody's talking about Apple, but what about
Speaker 3: Goldman Yeah? Right is there is a product as well?
Speaker 3: So I feel like this is something that's extremely important.
Speaker 3: Goldman Sacks didn't fight to have their name on it. Right,
Speaker 3: this is this lessons in here, like this lessons in here,
Speaker 3: Like you're partnering with somebody, you see the value. Okay,
Speaker 3: I'm gonna come under your umbrella. That's a humbleingk Goldman
Speaker 3: Sack does is a billion dollar into multi billion, hundred
Speaker 3: billion dollar situation. They don't have to do that, but
Speaker 3: they see the value in the partnership. I'm trying to.
Speaker 3: We're trying to convince regular people to partner and they
Speaker 3: they can't even agree on making a social media post.
Speaker 3: You get even you can't even come to an event.
Speaker 3: And they running trillion dollar entities and they coming together.
Speaker 3: You're fighting over small things at the highest level of business,
Speaker 3: at the highest level. This is how business is done, collaboration.
Speaker 3: This is why I keep saying it over and over again.
Speaker 3: But some people get it. Some people don't get it.
Speaker 3: But for me, I thought it was extremely a smart
Speaker 3: move for Apple. I think that this is going to
Speaker 3: really be beneficial for them. I think that this will
Speaker 3: this will really put them more in the space of
Speaker 3: the financial services and everything that they do is just
Speaker 3: like you know, one brick at the time, whether it's healthcare,
Speaker 3: whether it's you know, rumors that they're going to get
Speaker 3: into the automotive space. They took over music. Absolutely, they
Speaker 3: took over music the entire industry. So it's like, you know,
Speaker 3: Apple is just it's wearables, is there? Here's the concern
Speaker 3: at what point does it become a monopoly and government
Speaker 3: breaks it apart.
Speaker 5: The great part is Apple, Google, and Microsoft have such
Speaker 5: a symbiotic competitive relationship that they'll always find a way
Speaker 5: at the same time to dominate a market at the
Speaker 5: same time where enough of them share enough of the
Speaker 5: market share to not get monopoly chargers. I think they
Speaker 5: learned a lot from Bill Gates. So if they go
Speaker 5: first and then Microsoft goes second, because if you don't
Speaker 5: think that the CEO don't talk, they do. There's a
Speaker 5: reason why Microsoft got opened API and then Google push
Speaker 5: forward will bard even though they have the technology first.
Speaker 5: Say with Microsoft, Microsoft initially had a iPad before Apple did.
Speaker 5: No one just wanted it. For Microsoft, they had a
Speaker 5: nineteen ninety six. Then Apple becomes prominent, then Windows make
Speaker 5: the push. So I think they're going to team up
Speaker 5: enough to make sure they have enough market share what
Speaker 5: they can dominate, but they'll share with each other till
Speaker 5: no one can get that the monopoly thing pushed against them.
Speaker 5: And I truly believe at one point, Apple will be
Speaker 5: the number one technology company while being the number one
Speaker 5: healthcare company, and while being the number one financial services
Speaker 5: company in the world.
Speaker 1: Give it.
Speaker 3: It's like cause it's like Rockefeller at one point. Rockefeller
Speaker 3: did everything right and it was like this as it's
Speaker 3: just when you become so big, now you start to
Speaker 3: put so many different targets on your back, and you know,
Speaker 3: you got government regulators, you got the competition, you got
Speaker 3: people that want to break you apart, even the phone companies.
Speaker 3: That happened with the phone company and they broke the
Speaker 3: phone companies apart. And now Apple is the biggest company
Speaker 3: in the history of the world. So if they try
Speaker 3: to break Apple, that's going to be hard.
Speaker 4: But it's just consumers want it.
Speaker 1: Yeah, the brand recognition is so strong that.
Speaker 4: Can you do too many things at one time? If
Speaker 4: you do, they found a way to do the right
Speaker 4: things well.
Speaker 2: If you're doing well right, like the wearables by themselves
Speaker 2: billion dollar business, they've they've done it well into healthcare.
Speaker 2: It's still I mean, it's kind of premature right now.
Speaker 1: Right they have the Apple Watch.
Speaker 2: They haven't really released what they're doing with the information yet,
Speaker 2: but I'm sure there's a plan in place so you
Speaker 2: get when they get into the EV space. The brand
Speaker 2: recognition will allow it to have errors but also allow
Speaker 2: it to grow exponentially as well, which is interesting. Most
Speaker 2: businesses don't have that where you can have and grow
Speaker 2: at the same time because people just trust the brand
Speaker 2: so much. That's why when you look at it, people
Speaker 2: if they know that they can just have an Apple
Speaker 2: Card number one, it's like, yo, you're part of a society.
Speaker 2: Like when I apply it, this is this is crazy.
Speaker 2: When you apply for it, they're not just taking anybody. Yes,
Speaker 2: your credits calld got to be a seven thirty just
Speaker 2: to have the Apple Card, so you can't even get
Speaker 2: the savings the crowd. So you're thinking about they're getting
Speaker 2: credited people with high scores, right, and usually when people
Speaker 2: have high scores that means they're financially responsible and so
Speaker 2: those are the type of people that you.
Speaker 5: Want, and they prefer better people at higher scial and
Speaker 5: this is a well played people break them up. Let's
Speaker 5: say if you broke off the app store, the app store
Speaker 5: is still going to get thirty percent of every business
Speaker 5: in app store, and if we collapse Apple, it will
Speaker 5: collapse the entire stock market. Apple and Microsoft is really
Speaker 5: the only thing keeping the stock market to float right now.
Speaker 5: Two players is keeping everyone afloat. So you're in a
Speaker 5: damned if you do, damned if you don't situation. Break
Speaker 5: up the company in smaller pieces and they'll dominate the
Speaker 5: top fifteen or keep it together, and it's the stock
Speaker 5: market afloat. Why we're happy to issue with bricks.
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