I loved Layaway especially if there was a great deal but you needed a few day for payday. Payday Loans are the debil though and need to be shut down
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'Apple Pay Later' Now Being Tested by Apple Store Employees Ahead of Launch
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Yea the longer terms make sense especially zero interest, but what will six weeks do?
Agree the term should depend on the price. And will there be a minimum? Can i APL that $7 Pencil Adapter. I'm guessing maybe since you can pay on regular installments.
I worked in the gambling industry for 15 years. I know the misery it can inflict upon people.
Horror stories keep me from gambling. I'm a huge sports fan and realize how fun (and simple these days) betting on games would be. However, the thought of losing is enough to keep me from doing it. Will I do a stupid $10 bet with a buddy, sure. But I just refuse to go down the road of those Fan Duel or whatever sites. I remember going to Vegas and dropping $50 in a snap playing Black Jack. I was so furious that I didn't gamble the rest of the trip. LOLI worked in the gambling industry for 15 years. I know the misery it can inflict upon people.
The elevation of sports betting to a national pastime is just another one of those head scratchers that make you go hmmmm…
It's always been there. The difference is you now have it in the palm of your hands, wherever you go.
That is the reason why Bet365 exploded. They built the best mobile betting platform in the market....
Layaway was a true predecessor to today’s ubiquitous and predatory credit (and credit evaluation) system.
It helped many people make big purchases safely and conveniently and was widely used in the bygone days most MacRumors readers won’t recall. It also encourages a savings mentality that the “Buy now, pay later” schemes do not.
Guessing you are in Uk?
It hasn’t been ubiquitous in other countries, at least not legally. In some countries now it’s advertised during daytime TV and all the biggest sporting events, and it’s legal to bet on everything, including, perversely, amateur sports. You know what they say about fools and their money.
Edit: added a comma so it didn’t look like I was suggesting that sports played by amateurs were perverse.
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what about if you can afford it in full but choose to pay in bits to still save money ; it’s what I do when i buy Sony lenses and Cameras on Amazon ; I can 100% pay in full but if I have an option to pay it in 5-12 months then I would rather do that
It's so insane anymore you could probably bet on how many steps the QB will take before throwing the ball. Rat Race had this stuff predicted years ago.
I’m not in the UK but I’ve worked in the UK market, I was key to licensing a brand in Spain, I also worked in Germanic countries, France, Italy (before we were kicked out), Asia, and Australasia. My company was also one of the first to re-enter the US and was responsible for acquisition in that market.
I can tell you now. No matter where you live, gambling is very prevalent and advertised all over the place.
And the UK was one of the smallest markets, yet it was still massive.
We’re talking about the rise of legally sanctioned and mass marketed gambling here vis-a-vis technology that encourages irresponsible spending, and whether that’s really a business Apple should be in.
Anybody who’s traveled knows about the ubiquity of gambling, even in countries where it is strictly verboten and heavily prosecuted. Didn’t hop off the turnip truck yesterday. 😀
For a lot of people having something riding on the game makes it more interesting. For others just rooting for one side or the other is enough.
I remember the song with the lyrics company store. Sixteen Tons - Ernie Ford
Did a little duck duck go and found this quote on wikipedia.
"Company stores were monopolistic institutions, funneling workers' incomes back to the owners of the company. This is because company stores often faced little or no competition for workers' earnings on account of their geographical remoteness, the inability and/or unwillingness of other nearby merchants (if any existed) to accept company scrip, or both. Prices, therefore, were typically high. Allowing purchases on credit enforced a kind of debt slavery, obligating employees to remain with the company until the debt was cleared."
While Apple Store Employees have a choice and it's not food related this just popped into my head when I thought about them letting Apple Retail Employees try this. Talk about a quick way to get in debt quick....
Did a little duck duck go and found this quote on wikipedia.
"Company stores were monopolistic institutions, funneling workers' incomes back to the owners of the company. This is because company stores often faced little or no competition for workers' earnings on account of their geographical remoteness, the inability and/or unwillingness of other nearby merchants (if any existed) to accept company scrip, or both. Prices, therefore, were typically high. Allowing purchases on credit enforced a kind of debt slavery, obligating employees to remain with the company until the debt was cleared."
While Apple Store Employees have a choice and it's not food related this just popped into my head when I thought about them letting Apple Retail Employees try this. Talk about a quick way to get in debt quick....
I'm sure you're right. That's a pretty big incentive to not miss a payment. The way one does this is by not over extending themself and only taking on as much debt as they can comfortably afford. Any loan, even a short term one like this is pretty generous if it comes with zero interest. The good news is I'm sure the terms are spelled out in the fine print so anyone who uses this program should know what they're getting themself into.
The opposite scenario, one in which there was little to no penalty for missing a payment would be ripe for abuse and extremely risky for the lender, in this case apple, goldman sachs, or whoever is underwriting the loan.
Truer words have never been spoken. One should only take on debt when it's self liquidating, meaning the income derived from it is more than enough to cover the debt service and principal paydown. Debt for consumption is never a good idea. I wish this was taught in schools, but like Robert Kiyosaki says financial education isn't part of the curriculum.
Over indebtedness at all levels of society is only one of the disastrous consequences of the Fed's zero interest rate policies for the past 10-20 years.
That whole credit card thing is a huge betting industry in it self. The bank (short for whoever gives the credit) is literally betting on that enough people will miss a payment, allowing the bank to cash in big time from those poor bastards. Most people plan on being able to pay back, but sometimes people are unlucky or too stupid to see whats coming.
In order to lure people into this game they come up with crazy concepts like cashback and loyalty points and whatever. If you can pay back and does not miss a payment you win... or at least you think you do. The cashback money and all that comes from somewhere. The shop will pay some transaction fee and together with the penalty money for missed pay backs the majority will go to the shareholders of the bank. And a small fraction will go to you as cash back. The transaction fee will in the end be payed by you to the shop as they have to cover their expenses. You might not see it, but its a part of what you pay.
In the very end the bank is just feeding the dog (that's you) with its own tail.
So since you already sunk into this mess of credits what can you do? If you are certain you can pay back, then feel free to play the game and take all the benefits you can. And hope you will not miss a payment. And just know that you are in fact more or less eating your own tail, but its better than no food. And only the dogs that will behave well, will be allowed to eat their tail. The rest will starve or even loose a leg as well.
In order to lure people into this game they come up with crazy concepts like cashback and loyalty points and whatever. If you can pay back and does not miss a payment you win... or at least you think you do. The cashback money and all that comes from somewhere. The shop will pay some transaction fee and together with the penalty money for missed pay backs the majority will go to the shareholders of the bank. And a small fraction will go to you as cash back. The transaction fee will in the end be payed by you to the shop as they have to cover their expenses. You might not see it, but its a part of what you pay.
In the very end the bank is just feeding the dog (that's you) with its own tail.
So since you already sunk into this mess of credits what can you do? If you are certain you can pay back, then feel free to play the game and take all the benefits you can. And hope you will not miss a payment. And just know that you are in fact more or less eating your own tail, but its better than no food. And only the dogs that will behave well, will be allowed to eat their tail. The rest will starve or even loose a leg as well.
Come to think about it: it’s a reversed insurance.
Regular house insurance we all pay a small amount and then the insurance company will cover our loss if we’re unlucky and the house burns. The lucky ones will pay forever and never see that money again.
This credit card thing will on the opposite reward the lucky/smart ones and punish the unluckily/not-so-smart.
It’s very legit. It even says so in some old book: https://biblehub.com/matthew/13-12.htm
But it has nothing to do with helping each other as members of the human race. It’s mostly about more and more for me.
Regular house insurance we all pay a small amount and then the insurance company will cover our loss if we’re unlucky and the house burns. The lucky ones will pay forever and never see that money again.
This credit card thing will on the opposite reward the lucky/smart ones and punish the unluckily/not-so-smart.
It’s very legit. It even says so in some old book: https://biblehub.com/matthew/13-12.htm
But it has nothing to do with helping each other as members of the human race. It’s mostly about more and more for me.
Thanks. i wrote another long posts a few months ago that had several likes. It goes into my adoption story. https://forums.macrumors.com/thread...er-apple-podcasts-award.2371937/post-31766234
Thanks so much. For another hopefully uplifting post, i wrote another long posts a few months ago that several had some likes. It goes into my adoption story. https://forums.macrumors.com/thread...er-apple-podcasts-award.2371937/post-31766234