Latest / Earn Your Leisure / Study Hall: Details on Apple's New Savings Account

Transcript

Study Hall: Details on Apple's New Savings Account · Earn Your Leisure

• 0:00
  Speaker 1: Money.
• 0:01
  Speaker 2: It comes with a lot of questions and Fidelity can
• 0:04
  Speaker 2: help you get answers. Visit Fidelity dot com slash black
• 0:08
  Speaker 2: Wealth to learn more.
• 0:10
  Speaker 1: Apple.
• 0:10
  Speaker 3: Yes, Apple launches its savings account with one point four
• 0:16
  Speaker 3: point one entry.
• 0:19
  Speaker 1: Now.
• 0:19
  Speaker 3: Apple has launched its Apple Card Savings account, offering a
• 0:25
  Speaker 3: four point one five percent annual percentage yield APY with
• 0:32
  Speaker 3: no minimum deposit or balance requirements. Users can set up
• 0:37
  Speaker 3: an account through a wilet app on their iPhone. Daily
• 0:41
  Speaker 3: cash rewards earned through the Apple Card will automatically be
• 0:46
  Speaker 3: deposited in the savings account, and the users can change
• 0:50
  Speaker 3: the destination of their daily cash or AD funds from
• 0:55
  Speaker 3: their bank account the bank. The account is launched through
• 1:00
  Speaker 3: Goldman Sacks and a collaboration with Goldman Sacks and offers
• 1:06
  Speaker 3: a higher APY compared to the average national rate of
• 1:12
  Speaker 3: zero point three five percent. So the average is zero
• 1:17
  Speaker 3: points set five percent and Apple is coming in with
• 1:21
  Speaker 3: four point one percent. But it's only for Apple cardholders.
• 1:25
  Speaker 4: Yeah, Yes, can I go crazy real quick? Yes? About
• 1:30
  Speaker 4: you banking, healthcare, fintech.
• 1:33
  Speaker 5: We'll talk about quantum sciences later, quantum computing. There's only
• 1:37
  Speaker 5: a few categories of business that matter, So of course
• 1:41
  Speaker 5: if I was CEO of Coinbase, I would be concerned.
• 1:43
  Speaker 5: If I was the CEO Robinhood kudos to Flat, I
• 1:47
  Speaker 5: would be concerned. One point eight billion people have iPhones,
• 1:53
  Speaker 5: so even if they only get a fraction, let's say
• 1:55
  Speaker 5: ten percent of people to use the products, so one
• 1:57
  Speaker 5: hundred and eighty million people while banks are collapsing.
• 2:00
  Speaker 4: I said this on stock Club earlier.
• 2:03
  Speaker 5: You have to decide if your business thrives when there's
• 2:05
  Speaker 5: quantitative easing and a bunch of money flowing around, which
• 2:09
  Speaker 5: is like a hype beast type company, or if you
• 2:10
  Speaker 5: do best in a recession. Meta Facebook came out doing
• 2:13
  Speaker 5: a recession. Apple was launched in a recession. So was Microsoft. Now,
• 2:17
  Speaker 5: with the trust that they built over forty years and
• 2:21
  Speaker 5: all the users, you don't think that they're going to
• 2:23
  Speaker 5: take market share away from Bank of America Wells Fargo
• 2:27
  Speaker 5: City while teaming up with one of the best banks, Goldman,
• 2:31
  Speaker 5: and I'll be interested to see if JP Morgan then
• 2:34
  Speaker 5: turns around and does a partnership with someone to kind
• 2:37
  Speaker 5: of offset this. And thus in this release, I don't
• 2:40
  Speaker 5: know how to frame it any simpler, Like in every
• 2:43
  Speaker 5: category you want to go see where Goldman ranks.
• 2:45
  Speaker 4: Amongst the banks. They didn't do this with w Kovia
• 2:50
  Speaker 4: back in the day for a reason.
• 2:51
  Speaker 5: Right, stay focused on the top two, top four in
• 2:55
  Speaker 5: the sector. But the easiest strategy involves two tech two index.
• 2:59
  Speaker 5: If it's it's a valuable sector or segment of the market,
• 3:03
  Speaker 5: they are going to deploy capital there to eat up
• 3:06
  Speaker 5: market share.
• 3:07
  Speaker 4: And for everyone who's like, yes.
• 3:08
  Speaker 5: Capital one has one at four point six, UBS has
• 3:12
  Speaker 5: one and five percent. Most people in the United States
• 3:15
  Speaker 5: have no fucking clue who UBS is. Most people are
• 3:18
  Speaker 5: not going to go to Capital one. This is a
• 3:20
  Speaker 5: numbers game. Let's stop making it so complicated because I
• 3:23
  Speaker 5: want us to get rich instead of talking about getting rich.
• 3:26
  Speaker 3: Right, actually actually have actually have a Capital one account?
• 3:28
  Speaker 3: You do me too, I mean, but the check capital one.
• 3:31
  Speaker 3: I'm looking at my notes, Respectlet.
• 3:36
  Speaker 2: You just you nailed it, man, right, Like there there
• 3:40
  Speaker 2: are savings accounts that have higher yields.
• 3:43
  Speaker 1: Right, that's great, that's great.
• 3:45
  Speaker 2: Right, I think that the four point one five percent
• 3:47
  Speaker 2: is like eleventh according to bank rate.
• 3:50
  Speaker 1: But here's the thing, Right, the.
• 3:51
  Speaker 2: Ten banks that are in front of them number one,
• 3:54
  Speaker 2: you probably don't know seven of them. But here's what
• 3:57
  Speaker 2: they don't have They don't have one billion people the
• 4:01
  Speaker 2: right like they have one billion and growing and growing
• 4:04
  Speaker 2: at any point. But when we talk about financials, think
• 4:08
  Speaker 2: about how one business helps the next.
• 4:09
  Speaker 1: Right.
• 4:10
  Speaker 2: So, in order, like she says, right, in order for
• 4:12
  Speaker 2: you to have the savings account, you have to have
• 4:14
  Speaker 2: the Apple card. So in the past six months, right,
• 4:20
  Speaker 2: the Apple card has done well. Right after that they
• 4:24
  Speaker 2: have they obviously have Apple Apple Pay. But last month,
• 4:27
  Speaker 2: surprisingly nobody made no noise of it, but they put
• 4:31
  Speaker 2: out there pay now.
• 4:32
  Speaker 1: Save labor, save later applications.
• 4:35
  Speaker 2: So if you think about these three things, like we
• 4:37
  Speaker 2: got to pay now, buy now, pay later, you got
• 4:40
  Speaker 2: the Apple card, Now you've got a great savings account,
• 4:44
  Speaker 2: how do banks now respond?
• 4:46
  Speaker 1: Right, if the big four are.
• 4:48
  Speaker 2: Only providing you with point three five percent, how do
• 4:52
  Speaker 2: they respond?
• 4:54
  Speaker 3: Collaborate with collaborate with Google Collection? Well, I think, are
• 4:57
  Speaker 3: you done?
• 4:58
  Speaker 1: Yeah?
• 4:59
  Speaker 3: So I think that this is an interesting story of
• 5:02
  Speaker 3: a lot of different levels. But what strike what what
• 5:06
  Speaker 3: I saw? The first thing that I saw was the
• 5:10
  Speaker 3: power of collaboration is what I always talk about all
• 5:12
  Speaker 3: the time.
• 5:13
  Speaker 1: And it's like.
• 5:15
  Speaker 3: This the number one technology company, the number one company
• 5:20
  Speaker 3: in the world. Let's say tech company right teams up
• 5:23
  Speaker 3: with arguably the number one investment bank in existence.
• 5:28
  Speaker 4: Yep, it makes sense.
• 5:30
  Speaker 3: Apple has mastered technology, but they have not mastered financial services.
• 5:36
  Speaker 3: Gold Mien Sacks Well, gold min Sachs has mastered financial services.
• 5:40
  Speaker 3: So what's the easy way to fast track your way
• 5:43
  Speaker 3: into financial services? To partner with the best in the business. Right,
• 5:48
  Speaker 3: So they best in the business, and.
• 5:51
  Speaker 2: They This episode is brought to you by P and
• 5:54
  Speaker 2: C Bank. A lot of people think podcasts about work
• 5:57
  Speaker 2: are boring, and sure they definitely can, but understanding a
• 6:01
  Speaker 2: professionals routine shows us how they achieve their success little
• 6:05
  Speaker 2: by little, day after day.
• 6:07
  Speaker 1: It's like banking with P and C Bank. It might
• 6:10
  Speaker 1: seem boring.
• 6:11
  Speaker 2: To save, plan and make calculated decisions with your bank,
• 6:14
  Speaker 2: but keeping your money boring is what helps you live
• 6:17
  Speaker 2: or more happily fulfilled life. P and C Bank Brilliantly
• 6:21
  Speaker 2: Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty
• 6:25
  Speaker 2: five is a service mark of the PNC Financial Service Group, Inc.
• 6:29
  Speaker 2: P and C Bank National Association Member FDIC.
• 6:36
  Speaker 1: Erness What's up?
• 6:36
  Speaker 2: You ever walk into a small business and everything just
• 6:39
  Speaker 2: works like the checkout is fast the receipts are digital,
• 6:43
  Speaker 2: tipping is a breeze, and you're out the door before
• 6:46
  Speaker 2: the line even builds odds are they're using Square. We
• 6:50
  Speaker 2: love supporting businesses that run on Square because it just
• 6:52
  Speaker 2: feels seamless. Whether it's a local coffee shop, a vendor
• 6:56
  Speaker 2: at a pop up market, or even one of.
• 6:58
  Speaker 1: Our merch partners.
• 7:00
  Speaker 2: Makes it easy for them to take payments, manage inventory,
• 7:03
  Speaker 2: and run their business with confidence, all from one simple system.
• 7:07
  Speaker 2: If you're a business owner or even just thinking about
• 7:10
  Speaker 2: launching something soon, Square is hands down one of the
• 7:13
  Speaker 2: best tools out there to help you start, run and grow.
• 7:17
  Speaker 2: It's not just about payments, it's about giving you time
• 7:20
  Speaker 2: back so you can focus on what matters most ready.
• 7:23
  Speaker 2: To see how Square can transform your business, visit Square
• 7:26
  Speaker 2: dot com backslash, go backslash eyl to learn more that
• 7:31
  Speaker 2: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.
• 7:37
  Speaker 2: Let's Square handle the back end so you can keep
• 7:39
  Speaker 2: pushing your vision forward.
• 7:43
  Speaker 6: An illegal alien from Guatemala charged with raping a child
• 7:46
  Speaker 6: in Massachusetts. An MS thirteen gang member from El Salvador
• 7:50
  Speaker 6: accused of murdering a Texas man of Venezuelan charged with
• 7:55
  Speaker 6: filming and selling child pornography in Michigan. These are just
• 7:59
  Speaker 6: some of the heinous migrant criminals caught because of President
• 8:02
  Speaker 6: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 8:06
  Speaker 6: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 8:11
  Speaker 6: crossings are at the lowest levels ever recorded, and over
• 8:14
  Speaker 6: one hundred thousand illegal aliens have been arrested. If you
• 8:18
  Speaker 6: are here illegally, your next you will be fine nearly
• 8:22
  Speaker 6: one thousand dollars a day. Imprisoned and deported, you will
• 8:26
  Speaker 6: never return. But if you register using our CBP home
• 8:29
  Speaker 6: app and leave now, you could be allowed to return legally.
• 8:33
  Speaker 6: Do what's right. Leave now. Under President Trump, America's laws,
• 8:38
  Speaker 6: border and families will be protected.
• 8:41
  Speaker 4: Sponsored by the United States Department of Homeland Security.
• 8:43
  Speaker 3: Obviously are gonna, you know, take care. On the financial side,
• 8:47
  Speaker 3: Apple has the technology. It's a win win for everybody.
• 8:51
  Speaker 3: I think Goldman Sachs is a company to watch IM
• 8:54
  Speaker 3: out of this. Everybody's talking about Apple, but what about
• 8:57
  Speaker 3: Goldman Yeah? Right is there is a product as well?
• 9:01
  Speaker 3: So I feel like this is something that's extremely important.
• 9:05
  Speaker 3: Goldman Sacks didn't fight to have their name on it. Right,
• 9:09
  Speaker 3: this is this lessons in here, like this lessons in here,
• 9:11
  Speaker 3: Like you're partnering with somebody, you see the value. Okay,
• 9:14
  Speaker 3: I'm gonna come under your umbrella. That's a humbleingk Goldman
• 9:17
  Speaker 3: Sack does is a billion dollar into multi billion, hundred
• 9:20
  Speaker 3: billion dollar situation. They don't have to do that, but
• 9:24
  Speaker 3: they see the value in the partnership. I'm trying to.
• 9:26
  Speaker 3: We're trying to convince regular people to partner and they
• 9:30
  Speaker 3: they can't even agree on making a social media post.
• 9:34
  Speaker 3: You get even you can't even come to an event.
• 9:38
  Speaker 3: And they running trillion dollar entities and they coming together.
• 9:42
  Speaker 3: You're fighting over small things at the highest level of business,
• 9:46
  Speaker 3: at the highest level. This is how business is done, collaboration.
• 9:49
  Speaker 3: This is why I keep saying it over and over again.
• 9:51
  Speaker 3: But some people get it. Some people don't get it.
• 9:54
  Speaker 3: But for me, I thought it was extremely a smart
• 9:57
  Speaker 3: move for Apple. I think that this is going to
• 10:00
  Speaker 3: really be beneficial for them. I think that this will
• 10:03
  Speaker 3: this will really put them more in the space of
• 10:07
  Speaker 3: the financial services and everything that they do is just
• 10:11
  Speaker 3: like you know, one brick at the time, whether it's healthcare,
• 10:15
  Speaker 3: whether it's you know, rumors that they're going to get
• 10:17
  Speaker 3: into the automotive space. They took over music. Absolutely, they
• 10:22
  Speaker 3: took over music the entire industry. So it's like, you know,
• 10:26
  Speaker 3: Apple is just it's wearables, is there? Here's the concern
• 10:32
  Speaker 3: at what point does it become a monopoly and government
• 10:36
  Speaker 3: breaks it apart.
• 10:38
  Speaker 5: The great part is Apple, Google, and Microsoft have such
• 10:43
  Speaker 5: a symbiotic competitive relationship that they'll always find a way
• 10:48
  Speaker 5: at the same time to dominate a market at the
• 10:52
  Speaker 5: same time where enough of them share enough of the
• 10:54
  Speaker 5: market share to not get monopoly chargers. I think they
• 10:57
  Speaker 5: learned a lot from Bill Gates. So if they go
• 10:59
  Speaker 5: first and then Microsoft goes second, because if you don't
• 11:02
  Speaker 5: think that the CEO don't talk, they do. There's a
• 11:03
  Speaker 5: reason why Microsoft got opened API and then Google push
• 11:07
  Speaker 5: forward will bard even though they have the technology first.
• 11:10
  Speaker 5: Say with Microsoft, Microsoft initially had a iPad before Apple did.
• 11:14
  Speaker 5: No one just wanted it. For Microsoft, they had a
• 11:16
  Speaker 5: nineteen ninety six. Then Apple becomes prominent, then Windows make
• 11:20
  Speaker 5: the push. So I think they're going to team up
• 11:22
  Speaker 5: enough to make sure they have enough market share what
• 11:25
  Speaker 5: they can dominate, but they'll share with each other till
• 11:28
  Speaker 5: no one can get that the monopoly thing pushed against them.
• 11:31
  Speaker 5: And I truly believe at one point, Apple will be
• 11:34
  Speaker 5: the number one technology company while being the number one
• 11:36
  Speaker 5: healthcare company, and while being the number one financial services
• 11:39
  Speaker 5: company in the world.
• 11:41
  Speaker 1: Give it.
• 11:41
  Speaker 3: It's like cause it's like Rockefeller at one point. Rockefeller
• 11:43
  Speaker 3: did everything right and it was like this as it's
• 11:48
  Speaker 3: just when you become so big, now you start to
• 11:53
  Speaker 3: put so many different targets on your back, and you know,
• 11:56
  Speaker 3: you got government regulators, you got the competition, you got
• 11:59
  Speaker 3: people that want to break you apart, even the phone companies.
• 12:02
  Speaker 3: That happened with the phone company and they broke the
• 12:05
  Speaker 3: phone companies apart. And now Apple is the biggest company
• 12:07
  Speaker 3: in the history of the world. So if they try
• 12:10
  Speaker 3: to break Apple, that's going to be hard.
• 12:11
  Speaker 4: But it's just consumers want it.
• 12:15
  Speaker 1: Yeah, the brand recognition is so strong that.
• 12:17
  Speaker 4: Can you do too many things at one time? If
• 12:20
  Speaker 4: you do, they found a way to do the right
• 12:23
  Speaker 4: things well.
• 12:25
  Speaker 2: If you're doing well right, like the wearables by themselves
• 12:30
  Speaker 2: billion dollar business, they've they've done it well into healthcare.
• 12:35
  Speaker 2: It's still I mean, it's kind of premature right now.
• 12:37
  Speaker 1: Right they have the Apple Watch.
• 12:39
  Speaker 2: They haven't really released what they're doing with the information yet,
• 12:41
  Speaker 2: but I'm sure there's a plan in place so you
• 12:44
  Speaker 2: get when they get into the EV space. The brand
• 12:47
  Speaker 2: recognition will allow it to have errors but also allow
• 12:50
  Speaker 2: it to grow exponentially as well, which is interesting. Most
• 12:53
  Speaker 2: businesses don't have that where you can have and grow
• 12:56
  Speaker 2: at the same time because people just trust the brand
• 12:59
  Speaker 2: so much. That's why when you look at it, people
• 13:02
  Speaker 2: if they know that they can just have an Apple
• 13:05
  Speaker 2: Card number one, it's like, yo, you're part of a society.
• 13:08
  Speaker 2: Like when I apply it, this is this is crazy.
• 13:10
  Speaker 2: When you apply for it, they're not just taking anybody. Yes,
• 13:13
  Speaker 2: your credits calld got to be a seven thirty just
• 13:15
  Speaker 2: to have the Apple Card, so you can't even get
• 13:17
  Speaker 2: the savings the crowd. So you're thinking about they're getting
• 13:20
  Speaker 2: credited people with high scores, right, and usually when people
• 13:24
  Speaker 2: have high scores that means they're financially responsible and so
• 13:26
  Speaker 2: those are the type of people that you.
• 13:28
  Speaker 5: Want, and they prefer better people at higher scial and
• 13:31
  Speaker 5: this is a well played people break them up. Let's
• 13:33
  Speaker 5: say if you broke off the app store, the app store
• 13:36
  Speaker 5: is still going to get thirty percent of every business
• 13:37
  Speaker 5: in app store, and if we collapse Apple, it will
• 13:41
  Speaker 5: collapse the entire stock market. Apple and Microsoft is really
• 13:44
  Speaker 5: the only thing keeping the stock market to float right now.
• 13:48
  Speaker 5: Two players is keeping everyone afloat. So you're in a
• 13:51
  Speaker 5: damned if you do, damned if you don't situation. Break
• 13:54
  Speaker 5: up the company in smaller pieces and they'll dominate the
• 13:57
  Speaker 5: top fifteen or keep it together, and it's the stock
• 14:00
  Speaker 5: market afloat. Why we're happy to issue with bricks.
• 14:06
  Speaker 3: My graduates from my school being forced back, drop bags,
• 14:11
  Speaker 3: drop Mike, drop backdrop drop earners.
• 14:25
  Speaker 2: What's going on?
• 14:25
  Speaker 1: Listen?
• 14:26
  Speaker 2: EYLU is relaunching, revamping, retooling.
• 14:29
  Speaker 4: That's right.
• 14:29
  Speaker 2: We're creating a new educational experience that's more expansive, shoty
• 14:33
  Speaker 2: telling we.
• 14:34
  Speaker 7: Got Yes twenty twenty three.
• 14:36
  Speaker 3: We've got a lot.
• 14:37
  Speaker 7: It's still a lot playing for you guys. So you
• 14:39
  Speaker 7: know that Eylu already includes monthly financial planning calls with Me,
• 14:43
  Speaker 7: book club calls with Troy, real estate calls, then MG
• 14:46
  Speaker 7: the mortgage got access to the Home Buying Blueprint Volume
• 14:50
  Speaker 7: one and volume two. Part of the revamp will include
• 14:54
  Speaker 7: twenty seven local chapters from across the United States, live
• 14:58
  Speaker 7: interactive teaching, hands on just pre recorded videos, plus fifteen
• 15:03
  Speaker 7: brand new curriculums.
• 15:05
  Speaker 1: The biggest just got bigger.
• 15:07
  Speaker 4: Head over to e y l university dot com.
• 15:10
  Speaker 5: That's e y l U n I V E R
• 15:14
  Speaker 5: s i t y dot com.
• 15:18
  Speaker 4: See you there,