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Well, one thing is clear: anybody who has billions of cash on the high side and his mind at the right place, will now, at this tim in history, investigate if he

Well, one thing is clear: anybody who has billions of cash on the high side and his mind at the right place, will now, at this tim in history, investigate if he should enter the banking industry in some form or another.

TrevorJ 17y ago
I don't specifically disagree with you, but I'm curious: what are your reasons for that viewpoint?
- anamax 17y ago
  > what are your reasons for that viewpoint? I don't know his reasons, but I note that the financial arm of most organizations with both a financial arm and another arm makes a huge fraction of the total income. Examples include GE Financial and GMAC, GM's finance arm (which was sold off a couple of years ago to keep the auto arm alive).
- anigbrowl 17y ago
  All competitors have just been weakened and many are seeking to preserve market share and/or autonomy (from regulation). furthermore, consumers largely hate banks at the moment. I certainly hate mine. If you have a big New Idea and the cash to implement it, it's a great time to offer an alternative. Having said that, my experience with Paypal has been very good overall. And I have a jaundiced attitude towards Apple.
- access_denied 17y ago
  Every industry has its barrier to entry, it is likely that the one for banking is probably at an historical low. Also Branson of Virgin said in an interview that he is applying for a license(or looking into it), so at least one of them actually does is for sure.
bobbyi 17y ago
Slate had an article earlier this year about the idea of Apple going into banking: http://www.thebigmoney.com/print/1094 http://www.thebigmoney.com/print/1094
jamesk2 17y ago
Yeah, in a way Apple doing this is a zoomed fractal version of what is happening with China. They make and sell lots of stuff and they use the money to build out their financial industry. It's also what GE (GE Capital), Sears (Discover Card) and to an extent Warren Buffet's Berkshire Hathaway which started life as a textile company.

TrevorJ 17y ago

I don't specifically disagree with you, but I'm curious: what are your reasons for that viewpoint?

anamax 17y ago
> what are your reasons for that viewpoint? I don't know his reasons, but I note that the financial arm of most organizations with both a financial arm and another arm makes a huge fraction of the total income. Examples include GE Financial and GMAC, GM's finance arm (which was sold off a couple of years ago to keep the auto arm alive).
anigbrowl 17y ago
All competitors have just been weakened and many are seeking to preserve market share and/or autonomy (from regulation). furthermore, consumers largely hate banks at the moment. I certainly hate mine. If you have a big New Idea and the cash to implement it, it's a great time to offer an alternative. Having said that, my experience with Paypal has been very good overall. And I have a jaundiced attitude towards Apple.
access_denied 17y ago
Every industry has its barrier to entry, it is likely that the one for banking is probably at an historical low. Also Branson of Virgin said in an interview that he is applying for a license(or looking into it), so at least one of them actually does is for sure.

bobbyi 17y ago

Slate had an article earlier this year about the idea of Apple going into banking: http://www.thebigmoney.com/print/1094 http://www.thebigmoney.com/print/1094

jamesk2 17y ago

Yeah, in a way Apple doing this is a zoomed fractal version of what is happening with China. They make and sell lots of stuff and they use the money to build out their financial industry. It's also what GE (GE Capital), Sears (Discover Card) and to an extent Warren Buffet's Berkshire Hathaway which started life as a textile company.