this post was submitted on 16 Aug 2023
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To follow his dystopian vision of Twitter as the Everything app, in the US it will have to be a bank at some point. The same way that Apple is now a bank in order to power parts of their wallet and payment platforms.
Apple also now offers savings accounts. And it's been surprisingly successful.
That is because Apple has a cult following that begs to spend more money on Apple.
Or maybe because it has an APY of over 4%, which is pretty damn good for a savings account. If Google came up with a +4% APY savings account, I'm sure people would sign up for that in droves too.
Also, there are Apple, Google/Android, Microsoft and Linux cults. Apple is not unique in that arena.