Banks were not queuing up to do it the first time and it didn't work out well for the bank that did (Goldman). Who else is compromising

I have no insider knowledge here but it doesn't seem outlandish to think that the negotiations would go a little differently for an established product vs a brand new one. Goldman may have simply been the only bank willing to work with Apple when the customer base (in size, demographics, spending patterns, whatever) was hypothetical.

What bank offers rewards and no fees to subprime(below 660) customers? There aren't any. Why no wanted the deal. Guaranteed to lose money. Its not like there's name recognition, i doubt most people could name the underlying bank for the Apple Card. Only place the bank is mentioned is the fine print at the bottom of the card details. Everything is branded "Apple Card"

> i doubt most people could name the underlying bank for the Apple Card. Only place the bank is mentioned is the fine print at the bottom of the card details.

And in the bottom-right corner of the titanium card and in the picture in Wallet. And it's advertised practically everywhere they mention the titanium card. And if you have Apple Savings it's also specified to be from GS everywhere.

GS was inexperienced and didn't know what they were getting into; that's why Apple was able to get such a good deal and also why GS now wants out. I fear Chase does know what they're getting into and Apple likely has far less favorable terms now. Though I'm incredibly glad they didn't give it to Synchrony (who runs PayPal and is incredibly sociopathic)

I would imagine Goldman want out. They were never a retail banking firm to begin with. And sell the current Apple Card division with debt and customer base packaged at a discount.

Consider the transition takes 24 months I wouldn't be surprised if the discount allow them to run three years with clause to terminate at later date. The downside and exposure should be limited with great upside on worldwide launch.

But judging from Apple's speed with their execution in Apple Wallet this will likely take a lot longer than expected.

Yeah I was surprised finding out it's Goldman card - I haven't heard about Goldman doing a consumer cards before that (and I have a lot of cards).

I mean I dont fault Goldman for doing it, if they really want to venture into consumer sector there is no better partner than Apple to do it.

But the execution has been absolutely appalling.

I know he jokes that running a marathon is theoretically possible with running shoes, it really isn't too hard though with programs like Couch to 5km https://c25k.com/. Multiple members of family have run marathons from as little as 6 months from nothing.

Wow their head of security is so arrogant, despite having their work done for them.

I don't think you're wierd for not knowing. I also didn't know

This "article" is basically a transcript of a youtuber's explanation. At least they are quoted and not just copied.

yeah, but some people don't want to, or can't watch a video, and prefer reading.

I think their point is why not have an actual source?

Why not write in LLVM IR then? Or JVM/CLR bytecode? Makes no sense to make it unreadable but also need to be compiled.

Nit pick, Australia was founded on transportation, not deportation. Australia was not a foreign country until many years after.

Sounds great for the consumer. More competition means more innovation

No more ISA lock-in.

When the ISA is a standard, it becomes a commodity.

Yes, first amendment is not absolute.

https://en.wikipedia.org/wiki/United_States_free_speech_exce...

Only the second one is absolute for some reason.

Far from it, but I'd rather not drag things so severely off topic. I'll just point out that you used to be able to mail order some surprising (at least by modern sensibilities) stuff.

Interesting, you think the second amendment is absolute? Can you elaborate on that?