Hacker News new | past | comments | ask | show | jobs | submit login

“And by launching a card, Apple would prove once again that, given enough time, all companies eventually become banks.”

Is this true? I can think of GE, but who else? What percentage of 100+ yo companies do this?




They might not be true banks, but lots and lots of companies become enough of a bank to issue loans or credit cards... to customers that want to buy their products. e.g. car companies, department stores, gasoline companies, etc.

I had a buddy that worked for Caterpillar Finance, the credit arm of the folks that make heavy machinery like bulldozers. They issue loans to companies for purchasing their stuff, etc.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: