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Joined 1 year ago
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Cake day: June 14th, 2023

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  • That’s not really true. Banks getting higher interest on loans also pay out more interest on deposits, otherwise they’re unable to attract and retain customers. FI profitability is based on net interest margin (revenue from lending - losses from deposits), and they need deposits to have the money to lend out so they can’t arbitrarily lower their deposit account rates to increase NIM.

    Banks get richer no matter what happens, because people need loans. If anything, higher rates make it more challenging for banks to make money as people are less able to make repayments and less likely to take out loans for luxury purchases or holidays.








  • Re: your last paragraph -

    Think of it this way. Google pulls in 300 billion USD a year and 80% of that is advertising revenue, not leaving a whole lot of the pie for Pixel phones once you take out subscriptions, Chromebooks, GCP, etc etc.

    Sure, they’re probably making some money on every pixel sale but the point of them making mobile phones is to support their advertising business.

    I’m not a Graphene user, but that’s the way I see it. At the end of the day if you get the phone secondhand you’re not giving them any money at all.