neverindoubt

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neverindoubt
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  • Apple Card is a drag on Goldman Sachs, says CEO

    neverindoubtneverindoubt
    eightzero said:
    First: boo hoo hoo for GS. 

    Second: how does a credit card actually lose money for the issuer? I get that some people simply welch, and that the card issuer offers incentives in cash back, but AC is no different that any other card in this regard. GS gets the usual swipe fees, and I'm guessing AAPL gets a cut. The article cites a $350 cost for each customer, but wgi did they pay that to? AAPL? Or is this some sort of aggregate overhead cost cited to bring out the pity party for GS "losses?"

    Third: boo hoo hoo for any credit card company.

    In case you weren’t being performatively clueless, the $350 cost to acquire a customer would have been paid out in advertising expense (TV, print, Google) and promotional expense (sign up bonus, referral bonus). In other media accounts it’s being held out as atypically high but ¯\_(ツ)_/¯.

    Once you have a credit card customer, it’s hard to lose money on them individually, but your business can definitely lose money overall if the customers cost too much to acquire.
    mike1grandact73FileMakerFellern2itivguywatto_cobrabyronl

  • Apple leaves the field in NFL Sunday Ticket negotiations

    neverindoubtneverindoubt
    “ The NFL was not keen on this proposal, as it wanted to "protect the interests" of broadcast partners CBS and Fox, who pay in the region of $40 billion for rights to the 2023 season. ”

    Fox & CBS together will pay ~$4 billion/year for their NFL rights deal beginning in 2023, not $40 billion. Because a cheap Sunday Ticket deal would cause some people to watch ST instead of CBS/Fox games, the NFL is contractually obligated to keep ST expensive.

    NBC will pay ~$2 billion, Disney/ABC/ESPN slightly more, Amazon slightly less, but none of them is threatened by Sunday Ticket switching.
    applebynaturewatto_cobratdknox

  • Apple Card review 2022: Great for Apple buys, lacking everywhere else

    neverindoubtneverindoubt
    haikus said:
    My largest frustration with some Apple products is that they don’t scale well. Apple Card is available in the US and where else? Canada? What about other markets? I can’t imagine how complicated it must be to roll out something like this to more countries… but then why does it even exist in the first place?
    And now I find out in this article that Apple Card is even meh where it exists? Ok…
    It exists because the US is a big market for Apple, and they can make money putting their name on a card here and integrating it into their ecosystem. That surprises/frustrates you?
    watto_cobra

  • Apple Card review 2022: Great for Apple buys, lacking everywhere else

    neverindoubtneverindoubt
    When traveling outside the US, where NFC payments are the norm, the Apple Card has this combination of features that’s *very* hard to find in a US card.

    - no annual fee
    - no foreign transaction fee
    - 2% cash back
    - universal acceptance (vs. AMEX)
    tokyojimuStrangeDayswilliamlondonmike1scstrrftenthousandthingswatto_cobra

  • Apple Pay processes $6 trillion annually, edges out Mastercard

    neverindoubtneverindoubt
    “ The TradingPlatforms' press release reporting on its research is credited to writer Edith Muthoni. But the LinkedIn page for the finance expert she quotes here and in previous articles, Edith Reads, has the same bio photo that Muthoni uses. ”

    That seems reputable.
    FileMakerFellerwatto_cobra