Ep. 116 - Apple & Goldman Sachs “Break-Up” | Apple Card Disaster

In this episode, Quinton Harris examines the now failed partnership between Apple and Goldman Sachs regarding their once-promising credit card partnership. He analyzes what went wrong, from Apple's unreasonable demands around customer data, fees, and payment cycles to the impact of rising interest rates on defaults. Ultimately, egos and a clash between tech and banking led to billions in losses and a relationship severed.

[00:00 - 01:32] - How the Apple & Goldman Partnership Started

[01:33 - 04:09] - Apple's Unusual Demands at Outset

[04:10 - 07:33] - Impact of Demands on Operations

[07:34 - 08:38] - Regulatory Probes Add More Pressure

[08:39 - 10:13] - Deteriorating Relationship Despite Efforts

[10:14 - 15:31] - Apple Ultimately Pulls the Plug

Key Quote:

"I'm not so sure Apple is going to learn from this, as much as they are going to maybe blame Goldman Sachs for this" - Quinton Harris

Goldman Chart: https://bit.ly/goldmanbalances

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