Welcome to the Tech Meme Right Home for Wednesday, November 29th, 2023.

I'm Brian McCullough today.

Apple and Goldman are ending their partnership.

So what does that mean for the Apple Credit Card? Stability AI is so

unstable it might be looking to sell itself. GM is pumping the brakes on its cruise rollout,

all the headlines from the big AWS conference yesterday and it's that time of year

what one year Spotify wrapped listening charts here's what you miss today in the world of

tech. The journal says that Apple plans to exit its Goldman Sachs contract in 12 to 15 months,

ending their consumer partnership, including for credit card and savings accounts.

Quote, the tech giant recently sent a proposal to Goldman to exit from the contract

in the next roughly 12 to 15 months, according to people briefed on the matter.

The exit would cover their entire consumer partnership, including the credit card the companies

launched in 2019 and the savings account rolled out this year.

It couldn't be learned whether Apple has already lined up a new issuer for the card.

The move would mark a swift about face for a program that just over a year ago was extended

through 2029 and was intended to serve as a pillar of Goldman's main street ambitions."

The retreat from this partnership began towards the end of the previous year when Goldman incurred substantial losses in its attempt to establish

a full-service consumer banking operation. By early this year Goldman informed Apple of its intention

to offload the partnership. Typically, the merchant, in this case Apple,

plays a leading role in such collaborations.

Goldman has explored the possibility of transferring the program to American Express,

but discussions have encountered concerns including high loss rates.

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