Do you mean that literally (they'll form an actual bank, FDIC regulated, etc. etc.), or figuratively? The latter I agree is likely. The former, not so much.
The article does not do a good job bridging that concept. Even with this statement, I'm still scratching my head with what you're saying.
Google doesn't want to be a bank. Google+ is not a PayPal competitor. Google doesn't want to make loans.
>Google-Plus is their integrated communication system. Over time, it's going to be at the core of everything they do, from auctions, to paying for things with Android phones, to their groupon and yelp clones.
I disagree with this, but even if we allow this statement, but how does that make it bank like?
A Google Account could be a unified online identity. Google Checkout could be a common monetary exchange system (though they've pushed away from that). Google+ could replace email, but I don't think it will.
How will it 'feel' like a bank? I sure as hell hope it doesn't. I use my online bank account to look at how much money i have every time I get paid. I avoid the bank because I hate long lines. That's it. My bank account is not at the center of my web experience NOR is it the center of my life.
I think Apple, Google, Microsoft, etc. are piling up cash because they don't want to pay taxes on it to repatriate it. By 2013, they estimate $238 billion or so of tech cash will be overseas, and each of those major tech companies has double digit billions.
People complain about the customer service of their bank, can you imagine the customer service of Google bank? "If your account is closed due to TOS violations, please post in our forum to beg for access to your cash."
8 comments
[ 2.6 ms ] story [ 34.3 ms ] threadGoogle doesn't want to be a bank. Google+ is not a PayPal competitor. Google doesn't want to make loans.
>Google-Plus is their integrated communication system. Over time, it's going to be at the core of everything they do, from auctions, to paying for things with Android phones, to their groupon and yelp clones.
I disagree with this, but even if we allow this statement, but how does that make it bank like?
A Google Account could be a unified online identity. Google Checkout could be a common monetary exchange system (though they've pushed away from that). Google+ could replace email, but I don't think it will.
Google+ needs your real name. What needs your real name? Your bank! Google+ is going to be your bank!
By the same logic, Google+ is also going to be Customs, Immigration, your employer, the IRS, your government, and your mother.
(Of course, Google+ doesn't really need your real name. It needs a name that appears real.)
People complain about the customer service of their bank, can you imagine the customer service of Google bank? "If your account is closed due to TOS violations, please post in our forum to beg for access to your cash."