It’s all about keeping every aspect of their customers’ lives in their ecosystems. Photos, calendars, money, I can live my entire life off my iPhone. Tim Cook knows more about me than I know about myself!
Mike Gustafson like I imagine most people feel - it’s hard to lead a life these days without becoming part of some ecosystem, so I would say I’ve accepted it as part of modern life. How about you?
I feel like fitness is the latest frontier for Big Tech. There has been a high influx of tech-infused fitness equipment and modalities that are being made accessible to people who want to stay fit from the comfort of their homes
Muhammad Shafiq California is basically its own nation. 5th largest economy on earth. These are just a few; they didnt mention paypal, square, venmo and so many others
@@MuhammadShafiqShafiqx yes they do it probably easier to notice what a monopoly Samsung is if you live in s korea. Samsung has 100+different department these departments act independently so what kind of makes it easy to break them up the military department is one of them. It basically 100 companies joint together by a single CEO that may or may not be dying soon
Agreed data is important, but you also have to consider 2. Loyalty from longer life-cycles. 3. Reduced costs for running their core businesses or prospecting users for additional financial offerings.
This is why I went back to using money. I think this means we some corporation tracking what I was buying, removing products we bought from shops at times, editting ingredients of products, resizing products we buy,, bringing in climate change laws to tax products we buy, doing weird things to people via this tracking, getting in on food stores and suppliers to track what we buy. Creeps. i honestly think this level of tracking is dangerous rather than helpful, if these "people" see people enjoying something often times they spoil it. I woule spend paper money where ever possible.
Their should be banks that store data and like banks that provides interest on savings. The customer should get part of the profit created using that data.
Yes alibaba does but they get away with it since China doesnt have strict antitrust or anti-monopolistic laws like America although US antitrust action against tech giants is not as strong now as it was back in the day when they almost broke Microsoft. I might be wrong but this is from my own understanding.
The complete virtualisation of currency will be a blessing if in the right hands. As for any other tech. Meanwhile, we face ads and social scores as the main motivation... What a shame
The Chinese have already done it with the Alipay & wechat apps. If google, apple and the rest don’t catch up. Soon it’ll only be the 2 big Chinese firms world wide. Think about it...
These two are very restrictive if using non china banks. Only JD and Taobao you can use your credit card via Alipay or Wechat pay. Other service cannot be done w/o china bank account.
This video was a disappointment. I was expecting some insightful answer to why tech firms are getting into finance. The closest this video came to addressing that was saying that a record of your financial transactions is useful to advertisers. While this may be true for Google (as its primary business is advertising), Facebook simply does not have a US competitor to Apple Pay or Google wallet, and Apple preaches privacy like its bottom line depended on it. This video brings me no closer to understanding the rise of FinTech. A word of constructive advice, take a look at CNBC’s videos on the same topic. None of them are shorter than 10 minutes and all provide in-depth explanations
They mentioned it will have charts for users to track their buying habits. Sure it is. Their intention is for the big tech companies to track your buying habits so they can bombard them with ads based on their purchases. This is the frontier of absolute control over people and their finances. No thanks, I like the little privacy I have left.
I started youtube channel during this pandemic, but dont know why subs are dropping😭. But I will keep uploading. from the first video I am focusing on quality, please wish me luck!🥺
Lol! If you buy ANY of these products from big tech and don't expect them to create a profile on what you're doing with what your purchasing? You are asking for big brother to pick on you forever.
convenience for us in the initial days As the time passes some banks might close Tech companies take control of the financial institutions , countries & elections in long run And many more
It's funny how the regulators behave towards modern day big tech companies and how nonchalant they are about VISA and Mastercard. Hey man! They are tech companies, too! You just didn't know much about technology and finance when they started their business.
survival , when in your finance and youre too big, the Government will bail you out. also its like this I have a ton of money i wanted to invest the money in something sure,
It’s all about keeping every aspect of their customers’ lives in their ecosystems. Photos, calendars, money, I can live my entire life off my iPhone.
Tim Cook knows more about me than I know about myself!
Isn't his name Tim *Apple* ???
Zyklos John Appleseed
So how do you feel about that, Ross? 🤔
China
Mike Gustafson like I imagine most people feel - it’s hard to lead a life these days without becoming part of some ecosystem, so I would say I’ve accepted it as part of modern life. How about you?
Finance is not the "last" frontier for big tech, it is just the latest. Totalitarianism is the last frontier. :)
Skynet is the last frontier
Yep totalitarianism is and will be always the last frontier.
lol growth is their addiction they will grow and grow more until they own everything
I feel like fitness is the latest frontier for Big Tech. There has been a high influx of tech-infused fitness equipment and modalities that are being made accessible to people who want to stay fit from the comfort of their homes
If these 3 companies were country, they’re basically superpowers countries
Samsung not only has a city they make cargo and tanks
Muhammad Shafiq California is basically its own nation. 5th largest economy on earth. These are just a few; they didnt mention paypal, square, venmo and so many others
Liberty Eli that’s scary when the big companies become more and more influence in our society!
me h Tanks? So Samsung also a military manufacturer?
@@MuhammadShafiqShafiqx yes they do it probably easier to notice what a monopoly Samsung is if you live in s korea. Samsung has 100+different department these departments act independently so what kind of makes it easy to break them up the military department is one of them. It basically 100 companies joint together by a single CEO that may or may not be dying soon
Because banks can't do IT. So tech firms try doing banking.
because finance is the ultimate form of rent-seeking.
"Concerned about privacy" yeah, concerned on who is getting the data
M O N E Y !
She must have just read this month's "Kiplinger's Personal Finance." I just read the Kiplinger article and it says the same thing.
They feed off data, the more they get the bigger they can grow.
feed of data you say, but you are their main nutrient
Their food is data. No data. They starve and die. You are the host that produces this sweet, delicious and digestible and nutrient rich data..
If advertisers want MY data, they should pay ME.
instead, they don't even have to tell me they're purchasing it, this should be illegal
@@kinghassy334 You're technically selling your data in return for the free services you use.
@@pathtobillions8070 Nah, theres already advertising and everyone pays for thier internet
Why am I sensing Evil Corp
Maybe because buying a new phone now a days (specifically iphones) cost just as much as putting a down payment on a car or house
Apple doesn't earn their money with advertising.
Except from *selling user data to third party companies*
Uh the app store is all about advertising
Roger Van Reijcke say that to facebook not apple
@@albaraqahtani You don't think Apple does it aswell?
@@bmssvr It's very obvious that *you didn't read the terms and conditions*
Big chick wants a form of intangible assets call data, and they want as much of it as you are willing or unwittingly giving to them
Imagine these tech companies getting hacked, like many times before, except now it’s also tied up with your $. no thanks
Salem can’t you say the same for the banks that you already store your money with? The same banks who have also gotten hacked in the past?
@@jdstepek agreed, but it makes it all that much easier. one stop shop
@@jdstepek when were the bankwes hacked lol
"Jack of all Trades & Master of Some"
*Greed.*
Agreed data is important, but you also have to consider 2. Loyalty from longer life-cycles. 3. Reduced costs for running their core businesses or prospecting users for additional financial offerings.
Good point
This is why I went back to using money. I think this means we some corporation tracking what I was buying, removing products we bought from shops at times, editting ingredients of products, resizing products we buy,, bringing in climate change laws to tax products we buy, doing weird things to people via this tracking, getting in on food stores and suppliers to track what we buy. Creeps. i honestly think this level of tracking is dangerous rather than helpful, if these "people" see people enjoying something often times they spoil it. I woule spend paper money where ever possible.
Their should be banks that store data and like banks that provides interest on savings. The customer should get part of the profit created using that data.
a very informative video...i found it really interesting
Money, saved you 3 minutes of your life. Now go waste them somewhere else
It would be a sad thing if something terrible happened to Visa and MasterCard with
their high interest rates.
Big tech is in oil, now finance too?
Apple specifically does not work that way. Apple Card is the only card that I know of that does not track your purchases.
Austin Walker Who told u?
the narrator has such a beautiful voice
I just got approved for 2,500 and i am 18 years old just few mins ago
Be careful with your spendings man. Be responsible. All the best
And you think we trusts Banks also????
Health is the last frontier NOT finance!!!
Damnnnn, this is the future !
When Apple doesn’t get to see your spending habits with Apple Card
Hahaha. What about alibaba? They do a lot more
Yes alibaba does but they get away with it since China doesnt have strict antitrust or anti-monopolistic laws like America although US antitrust action against tech giants is not as strong now as it was back in the day when they almost broke Microsoft. I might be wrong but this is from my own understanding.
Cant afford our product? No problem, we will finance it for you.
Yeah, keep the user in the ecosystème.
Replaced wallet with mobile way back
but now thinking of that $
Answer: money!
*MORE money
RealTechShow True, but data leads to money haha
The complete virtualisation of currency will be a blessing if in the right hands. As for any other tech. Meanwhile, we face ads and social scores as the main motivation... What a shame
My god they are copying china
The Chinese have already done it with the Alipay & wechat apps. If google, apple and the rest don’t catch up. Soon it’ll only be the 2 big Chinese firms world wide. Think about it...
These two are very restrictive if using non china banks. Only JD and Taobao you can use your credit card via Alipay or Wechat pay. Other service cannot be done w/o china bank account.
Pay me for using my data
No, what can you do about it?
What do you think all those "free" services are that they provide you? They're your "payment."
@@varunpathak2678 google andrew yang.
Because Apple is uniquely positioned to combine hardware and software to create the most secure transactions extant across a variety of its devices.
Back to cash? Not even a credit card, not Apple/Google Pay knows what we buy.
It pisses me off how much government is so against with Facebook's Libra. Let the masses decide. Let us decide.
Libra=E-Coin (from E-Corp). You mean that concerns?
Google Online Checking and Savings blended with Physical cash and Bitcoin would be perfect.
Google Coin? Perhaps?
And why? Only because of data collection and ecosystems?
because they already have so much cash... might as well utilize it financially instead of reinvesting it in their product.
Apple doesn’t sell may ads so...
You’re welcome.
Wish amazon would become a bank :)
because money
One word: Ecosystem.
Why Microsoft absent here
Abdul NJ california for some reason has them all
now the western giant tech trying to copy tencent! :D
Lol
True
No, obviously China copied the US even though China did it first. Wait...
This video was a disappointment. I was expecting some insightful answer to why tech firms are getting into finance. The closest this video came to addressing that was saying that a record of your financial transactions is useful to advertisers. While this may be true for Google (as its primary business is advertising), Facebook simply does not have a US competitor to Apple Pay or Google wallet, and Apple preaches privacy like its bottom line depended on it. This video brings me no closer to understanding the rise of FinTech.
A word of constructive advice, take a look at CNBC’s videos on the same topic. None of them are shorter than 10 minutes and all provide in-depth explanations
Literally to the 1% who's reading this, God bless you, and may your dreams come true, stay safe and have a wonderful day.
They mentioned it will have charts for users to track their buying habits. Sure it is. Their intention is for the big tech companies to track your buying habits so they can bombard them with ads based on their purchases. This is the frontier of absolute control over people and their finances. No thanks, I like the little privacy I have left.
My friend here thinks Libra is a profit cryptocurrency ..but actually its a way of payment..she is being fooled
Banking with biometrics please.
Wow. 3 good reasons not to have a bank account. Google, Apple, Facebook. Good thing New York passed a law, cash was still legal.
I started youtube channel during this pandemic, but dont know why subs are dropping😭.
But I will keep uploading. from the first video I am focusing on quality, please wish me luck!🥺
Because big money.
Buy Bitcoin.
I love the Apple Card.
Lol! If you buy ANY of these products from big tech and don't expect them to create a profile on what you're doing with what your purchasing? You are asking for big brother to pick on you forever.
#DeFi aka decentralized finance will be a next big rush.
Because they got everybody information and big date , they know how is your credit and how you use your money 💰
And Apple Pay is not in India.
What’s the worst that could happen?
convenience for us in the initial days
As the time passes some banks might close
Tech companies take control of the financial institutions , countries & elections in long run
And many more
Alibaba & Tencent have china's largest app payment
We have enough GSIB's already.
Toilet plunger for 12$...let's hope those are Zimbabwean dollars
It's funny how the regulators behave towards modern day big tech companies and how nonchalant they are about VISA and Mastercard. Hey man! They are tech companies, too! You just didn't know much about technology and finance when they started their business.
i would never trust them with finance
they want to know everything
because Chinese tech companies have been doing it and American tech firms have been salivating over it
a xx California companies are doing it big, mad love to china and japan. Leaders of tech
Just want y’all to know that the same guy that owns amazon owns this channel lol
Isn't this the male voice of Apple´s Siri?!
GOOGLE APPLE AMAZON MICROSOFT ruined the world
She says finance is last frontier lol, Corporate totalitarianism is
Smart..
i use google pay in almost everything
2:28 thats my f***ing key 🤣
That's why privacy is a concern 😂
If these 3 companies were country, they’re basically not north korea
Violating people's privacy in the quest to front run consumerism and fulfill their greedy desires.
Of course is because of MONEY! What else could it be!
MONEY!!!
what about my boy nubank
reason is to dumb people for big tech until they accept to use microchips in future instead of credit or debit card.
B I G [INSERT ANYTHING TO MAKE IT SOUND MENACING]
Big Puppy
NEVER GIVE UP YOUR DATA FOR FREE!
How can they steal the data?
Who is still using Facebook actively?
Amazon next...
so they can sell personal data and make more money
BTC, ETH, DAI - DEFI
Decentralized finance.
survival , when in your finance and youre too big, the Government will bail you out. also its like this I have a ton of money i wanted to invest the money in something sure,
Apple: Hey i noticed you have a $1000 in your wallet. Imma pre-order the next iPhone for you.
MONEY!
I don't trust them AT ALL
Money money money!