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Apple Card [1] and now Coinbase Card [2] hmmm… I have thought about this many times in the past: How are big companies able to steal these ideas so fast? Actu

Apple Card [1] and now Coinbase Card [2] hmmm… I have thought about this many times in the past: How are big companies able to steal these ideas so fast? Actually, “steal” may not be the correct word, but I don’t think this was a coincidence. Knowing how secretive Apple is, I am surprised that Coinbase was able to work on this project (also in secret?) without them noticing. Or maybe they noticed but didn’t care? Which is even more bizarre considering how sensitive Apple lawyers are with their unreleased projects. There must be some underground market of corporate secrets that I am not aware of because I cannot explain how two companies can work in the same project more or less at the same time without it being the product of a stolen idea. I had the same train of thought just a few weeks ago when Google announced project Stadia [3] and then Apple announced Arcade [4]. I know what you are going to say, “These two projects are very different”, well yes, they are, but they seem to have the same ingredients: big-4 creates platform for games. Maybe these are really simple coincidences, and I’m just paranoid. [1] https://www.apple.com/apple-card/ https://www.apple.com/apple-card/ [2] https://www.coinbase.com/card https://www.coinbase.com/card [3] https://stadia.dev/ https://stadia.dev/ [4] https://www.apple.com/apple-arcade/ https://www.apple.com/apple-arcade/

Krasnol 8y ago
Or...it's just no conspiracy at all because neither Apple not Coinbase reinvented the wheel but put just another card into your wallet? It's not like this is something ground breaking to do if you handle cash in the US.
- arsenico 8y ago
  With Apple it is different due to the depth of integration with the ecosystem, and also it is a credit card, not a debit card.
  - Krasnol 8y ago
    In the end it doesn't really matter for my argument. I mean, accusing Coinbase of stealing the idea is ridiculous.
    - arsenico 8y ago
      Not stealing - there have been about a dozen "crypto" debit cards until today. But the speed of implementing it to match the news from Apple - could be, why not?
      - Krasnol 8y ago
        Because I'm pretty sure this is not something you come up with in such a short notice.
  - manigandham 8y ago
    Not really, it's not easy but it's pretty simple. It's money + politics to get the connections to have a bank underwrite the cards. Apple went a little further with the fancy app and physical card but all the foundations are already available. You can see it yourself if you use any other major bank's mobile apps and cards.
    - arsenico 8y ago
      Well, it is somewhat different still - this is real ecosystem work, and the depth of integration into it is quite significant.
      - manigandham 8y ago
        Can you explain what you mean by Apple's ecosystem integration? What is it that they do differently? As far as I can tell, the app has budgeting features that are similar to what mint.com offered a decade ago.
        arsenico 8y ago
        Payment categorisation, maps, etc are long available as services from companies like Yodlee, for example. For the budgeting part, as well. What I mean is that it will just feel natural to pay with the phone using the credit card, which you don't really need to get from anyone else, but Apple themselves.
        manigandham 8y ago
        Apple Pay has been backed by whatever credit card you want for years now, this isn't any different. The bank still has to approve you, it's not automatic. I guess I just don't see what's so special about this other than the fancy app.
        arsenico 8y ago
        Because it is not about going to the bank and getting your credit card, and then linking it to the Wallet. I think it will feel different from the experience perspective. For them that is the only way to get traction.
  - n1c0la 8y ago
    and with Goldman Sachs - yeah.
  - astura 8y ago
    I don't think so... Cobranded credit cards are a dime a dozen: charities, clubs, stores, and alumni associations all have them.
    - arsenico 8y ago
      True, but GS has never issued credit cards before, so not really on par with any other co-branded credit cards.
arsenico 8y ago
In fact, launching a debit card now is quite simple and fast if you're using an issuer. Especially the one like Paysafe. The only question is why do that with Paysafe, who have quite a reputation as an issuer, other than speed of the launch. With Apple Arcade - I think it is purely a coincidence, but Apple definitely wants deeper into the gaming market now - even being there for quite some time and quite some share with iPhone and iPad.
govg 8y ago
It's not about them being coincidences or secret projects - these are huge markets in general that the big players have not picked up on. For Apple, after their Apple TV, a logical extension would have been to dip into the gaming market as well.

Krasnol 8y ago

Or...it's just no conspiracy at all because neither Apple not Coinbase reinvented the wheel but put just another card into your wallet? It's not like this is something ground breaking to do if you handle cash in the US.

arsenico 8y ago
With Apple it is different due to the depth of integration with the ecosystem, and also it is a credit card, not a debit card.
- Krasnol 8y ago
  In the end it doesn't really matter for my argument. I mean, accusing Coinbase of stealing the idea is ridiculous.
  - arsenico 8y ago
    Not stealing - there have been about a dozen "crypto" debit cards until today. But the speed of implementing it to match the news from Apple - could be, why not?
    - Krasnol 8y ago
      Because I'm pretty sure this is not something you come up with in such a short notice.
- manigandham 8y ago
  Not really, it's not easy but it's pretty simple. It's money + politics to get the connections to have a bank underwrite the cards. Apple went a little further with the fancy app and physical card but all the foundations are already available. You can see it yourself if you use any other major bank's mobile apps and cards.
  - arsenico 8y ago
    Well, it is somewhat different still - this is real ecosystem work, and the depth of integration into it is quite significant.
    - manigandham 8y ago
      Can you explain what you mean by Apple's ecosystem integration? What is it that they do differently? As far as I can tell, the app has budgeting features that are similar to what mint.com offered a decade ago.
      - arsenico 8y ago
        Payment categorisation, maps, etc are long available as services from companies like Yodlee, for example. For the budgeting part, as well. What I mean is that it will just feel natural to pay with the phone using the credit card, which you don't really need to get from anyone else, but Apple themselves.
        manigandham 8y ago
        Apple Pay has been backed by whatever credit card you want for years now, this isn't any different. The bank still has to approve you, it's not automatic. I guess I just don't see what's so special about this other than the fancy app.
        arsenico 8y ago
        Because it is not about going to the bank and getting your credit card, and then linking it to the Wallet. I think it will feel different from the experience perspective. For them that is the only way to get traction.
- n1c0la 8y ago
  and with Goldman Sachs - yeah.
- astura 8y ago
  I don't think so... Cobranded credit cards are a dime a dozen: charities, clubs, stores, and alumni associations all have them.
  - arsenico 8y ago
    True, but GS has never issued credit cards before, so not really on par with any other co-branded credit cards.

arsenico 8y ago

In fact, launching a debit card now is quite simple and fast if you're using an issuer. Especially the one like Paysafe. The only question is why do that with Paysafe, who have quite a reputation as an issuer, other than speed of the launch. With Apple Arcade - I think it is purely a coincidence, but Apple definitely wants deeper into the gaming market now - even being there for quite some time and quite some share with iPhone and iPad.

govg 8y ago

It's not about them being coincidences or secret projects - these are huge markets in general that the big players have not picked up on. For Apple, after their Apple TV, a logical extension would have been to dip into the gaming market as well.