What will Apple do with $28B?

  • Posted: 28 January 2009 01:19 PM #31

    rezonate - 28 January 2009 03:59 PM

    Spending the week in Las Vegas. I’m reminded every time I pull out my wallet just how inefficient trying to purchase something can be. Though it’ll never happen, imagine if Apple “reinvented transactions”? We’ve talked about this before on this board, maybe a couple years ago. With $28b behind the idea, Apple might be able to make it work. They invent a really *simple* Point-of-Sale technology, then roll it out aggressively. Spread the Apple ecosystem to every convenience store, fueling station, restaurant, and market, backed by plenty of cash.


    Doesn’t this “technology” already exist? Isn’t it called “credit cards”?

    John Chambers talked about the internet economy way back in the mid 90’s before anyone had even heard of online shopping (there’s a great video on youtube of Charlie Rose interviewing Chambers and marveling at the idea that “some day we will all be able to go into an online store and buy stuff online”. It’s really funny in retrospect).

    I don’t think there’s a way to improve on credit card technology, unless what you’re thinking about is a reshaping of the monetary system (i.e. paying in credits instead of dollars, etc).

         
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    Posted: 28 January 2009 01:37 PM #32

    To buy something I hand it across the counter. They scan it and tell me a price. I dig out a card, hand *that* over to be swiped. We wait, then they hand it back, dig around for a pen, hand the receipt over. I sign it, hand it back. They *finally* hand me my merch so I can leave. Gads. How about I scan all my purchases with iPhone, then place it all on the counter. The sales person looks at a screen that displays the list downloaded from the phone and hits the ‘approved’ button. I take my stuff and walk out.

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    Posted: 28 January 2009 01:40 PM #33

    rezonate - 28 January 2009 05:37 PM

    To buy something I hand it across the counter. They scan it and tell me a price. I dig out a card, hand *that* over to be swiped. We wait, then they hand it back, dig around for a pen, hand the receipt over. I sign it, hand it back. They *finally* hand me my merch so I can leave. Gads. How about I scan all my purchases with iPhone, then place it all on the counter. The sales person looks at a screen that displays the list downloaded from the phone and hits the ‘approved’ button. I take my stuff and walk out.

    Still too complicated.  Scan with iPhones and then walk out the stores.

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  • Posted: 28 January 2009 01:51 PM #34

    rezonate - 28 January 2009 05:37 PM

    To buy something I hand it across the counter. They scan it and tell me a price. I dig out a card, hand *that* over to be swiped. We wait, then they hand it back, dig around for a pen, hand the receipt over. I sign it, hand it back. They *finally* hand me my merch so I can leave. Gads. How about I scan all my purchases with iPhone, then place it all on the counter. The sales person looks at a screen that displays the list downloaded from the phone and hits the ‘approved’ button. I take my stuff and walk out.


    My point was: Online shopping is already the best way to shop. Who goes into stores these days anyway?

         
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    Posted: 28 January 2009 02:19 PM #35

    Here a recent NY Times article on use of Cell phone as a credit card

    The technology exists, and, in fact, people in Japan have been using it for the last five years to pay for everything from train tickets to groceries to candy in vending machines. And in small-scale trials around the world, including in Atlanta, New York and the San Francisco Bay Area, nearly everyone has liked using this form of payment.

         
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    Posted: 03 February 2009 08:17 PM #36

    I remember last year when apple had plummetted to 120 I wondered why apple wasn’t buying back shares, and feeling vindicated when it went back up to about 180.

    I was just watching Nightly Business Report, and they went through a long list of writedowns companies were taking for losses on acquisitions.

    During the last profit conference call Oppenheimer (?) simply said that Apple investment of cash had been designed for capital preservation, and that had proven appropriate for current economic conditions.

    That’s why he has his job and I have mine.

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  • Posted: 05 February 2009 03:36 PM #37

    Earlier this morning when BAC was at 3.77/share (market cap = $24 billion), Apple could have bought both BAC and GM (mkt cap = $1.7 billion) and had $2+ billion left over.  :-o

    Just kidding :innocent:

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    Posted: 05 February 2009 08:19 PM #38

    JimDE - 05 February 2009 07:36 PM

    Earlier this morning when BAC was at 3.77/share (market cap = $24 billion), Apple could have bought both BAC and GM (mkt cap = $1.7 billion) and had $2+ billion left over.  :-o

    Just kidding :innocent:

    AppleBank and AppleCar or MacBank and MacCar or iBank and iCar?

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