In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
A look at Apple Pay’s website indicates that most of the retail outlets taking the payment app are specialty stores and smaller regional chains. From the looks of it, Apple is still having a very hard time getting retailers to adopt its payment solution.
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To be fair, there are some signs Lending Club is starting to make money. According to its financials, Lending Club had $64.6 million in cash and short-term investments when it went public. Yet on March 31, 2015, Lending Club had $874.13 million in cash and short-term investments. That shows us that it is capable of generating a lot of cash in a very short period of time, but can it keep that up?
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If Walmart rolls out this subscription service in a smart way, it could position itself as the anti-Amazon.
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It looks as if bitcoin could have a future in the real world, and that could be the most disruptive development yet. We may need to completely rethink our concept of money and our ideas of economics because of it.
Read MoreBoth Tesla and SolarCity are losing a lot of money, and both could be in serious trouble if Mr. Musk cannot figure out a way to start generate cash and a lot of it—and fast. Musk has taken a very bold gamble here; he’s essentially betting two of his companies on a fundamental shift in the way the world gets electricity. If that change does not occur, both Tesla and SolarCity will find themselves caught in the death spiral.
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The number of delinquent loan balances at BOFI doubled between June 30, 2014, and September 30, 2014, which indicates that the bank’s loan book could quickly melt down.
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The loss of Costco Canada is already hurting American Express, where revenue fell slightly between December 2014 and March 2015. AmEx reported a TTM revenue of $34.04 billion on March 31, down from $34.29 billion on December 31. The loss of Costco Canada hit American Express hard because the club store giant is huge in Canada, as anybody who visits the country knows.
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Something else that is also obvious is that PayPal would be an acquisition target; purchasing it would give a large bank, retailer or credit card company access to a vast financial network and tens of millions of potential customers.
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This could indicate that traditional banking might no longer be a viable business because of the alternatives available. Things could soon get worse because PayPal is about to get spun off from eBay Inc. (NASDAQ: EBAY) and transformed into an independent financial services company that will compete directly with banks.
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• Abolish the payroll or withholding taxes, which take a percentage of a person’s salary. These hit the working poor heavily, and they do not raise enough money to cover the costs of programs like Social Security and Medicare.
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