Mon. 03/05 - Amazon Checking Accounts

Tech Brew Ride Home

Amalgamated Internets, LLC

News, Tech News, Technology

4.7 • 1K Ratings

🗓️ 5 March 2018

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Amazon checking accounts, Apple noise canceling earphones, Google sells Zagat, Facebook posts a cringeworthy user survey, and VCs take a road trip! Sources: Amazon is in talks with big banks including JPMorgan Chase about a checking-account-like product that would appeal to those without bank accountsWall Street JournalNew York Magazine Sources: Apple is planning to launch high-end headphones with noise canceling and wireless pairing as early as end of 2018, but has faced development challengesBloomberg9to5Mac Google is selling US restaurant review guide Zagat, which it bought for $151M in 2011, to restaurant review company The Infatuation for an undisclosed sum New York TimesEater LAEater NY Facebook admits it was a mistake to run a survey this weekend that asked users what its policy should be for when adults ask underage girls for sexual images The GuardianJonathan Haynes TweetsTechCrunch Some VCs say travels outside the Bay Area, including to Midwest, have helped them see downsides of Silicon Valley, as SF faces high levels of outward migration New York Times Credits: Produced by @brianmcc and the @techmeme staff Music by @jpschwinghamer Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Tech Meam Ride Home Podcast for Monday, March 5th, 2018.
0:09.0	Today, Amazon checking accounts, Apple noise cancelling headphones, Google sells
0:16.2	Zagat, Facebook posts a cringe-worthy user survey, and VeeC's Take a Road Trip. Here's what you missed today in the world of tech.
0:25.0	Are you ready for an Amazon branded checking account?
0:31.0	That's what the Wall Street Journal asked this morning
0:34.1	when it reported that Amazon is in talks with big banks including J.P. Morgan Chase
0:39.0	and Capital One to build a quote checking account like product end quote that Amazon would offer its
0:46.8	customers directly the effort is in its early stages and the request for
0:51.7	proposals only went out to banks this past fall.
0:55.0	No word yet on which bank is likely to win the partnership if it goes forward at all.
1:00.0	Though J.P. Morgan has issued Amazon branded credit cards since 2002, and the journal piece
1:06.4	noted that J.P. Morgan CEO James Diamond called Amazon CEO Jeff Bezos, a quote,
1:12.2	friend of the family, in an investor presentation just last week.
1:17.0	The primary motivation on Amazon's part for this latest move
1:21.0	appears to be its never-ending quest to lower fees that it pays to
1:25.2	payment processors. Offering a product similar to a checking account would mean lower fees
1:30.3	that Amazon has to pay to credit card companies as an example.
1:34.0	It would also give Amazon more data about its user's spending habits and of course encourage
1:39.0	customer loyalty.
1:41.2	But another motivator is the seemingly unending quest to appeal to millennials or those
1:46.7	customers who do not have banking relationships. In fact, the New York magazine post
1:52.0	discussing this news was headlined,
	...

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