Pretty much everyone needs to deal with a bank, so in a way it doesn't matter that they all have customer satisfaction issues, since people have to put up with

Pretty much everyone needs to deal with a bank, so in a way it doesn't matter that they all have customer satisfaction issues, since people have to put up with it. If a bank gets really bad, people will switch (I think it'd have to get really bad, since switching seems overly painful for me personally - then again, I'm Canadian and our banks work a bit differently than in the states). If all the banks suck - or at least, as you say, the "big banks" who obviously have the biggest mind share - then people just sort of put up with it. The same goes for airlines. If you're in the position where you're considering flying, pretty much all of your options suck anyway. By this, I mean that if I didn't fly home (a two hour flight), my next best option is to travel by train, which is comparable in price, takes 10x more of my time, and is (warning: unsourced memory of something I may have misread) actually les safe than flying. Flying is a hassle, but its typically an infrequent one, and it's a lot better than its alternatives. Phones, however, are pretty much a dime a dozen, and the range of products is immense. I've had a "dumb phone" for four years, and I don't really have a reason to upgrade. I can call, I can text, and if I really really need to I have web access on a browser that makes Lynx seem state of the art. This is enough for me. For those who want a "smart phone" there are already great options: - Blackberry is still a big name, and when I tried out my dads a few months ago, I liked it and considered buying one of my own. - Apple is now the big name and iPhone has huge mind share (I can't speak to its market share off the top of my head) and people who like Apple like it a lot. - Google is a trusted name, and they're marketing the hell out of Android. Their sales are pretty decent IIRC, and they're growing. My point here is that there are already three large, established names that can compete "on name alone." The Facebook name, in a lot of circles, doesn't have a great reputation, particularly when talking about privacy. I'm sure there are people out there who would buy a Facebook phone purely based on the name, but there are an awful lot who would do the opposite. Personally, when I saw the title "Facebook is Secretly Building a Phone," my first thought was "...and I would never buy it." That's based entirely on the Facebook name, based on my perception of the company.