Banks, retailers and others see personal-finance applications as the place where people will pay for things. If Microsoft corners the market and takes a piece of every transaction, they worry Microsoft will get rich at everyone’s expense.
Predictor: Michalski, Jerry
Prediction, in context:In a 1995 article for The Washington Post, Elizabeth Corcoran interviews Release 1.0 editor and technology consultant Jerry Michalski about the ripples Microsoft’s buy of Intuit and the Justice Department’s suit filed to stop the deal are making in the area of online finance. Corcoran writes: ”Most analysts expect that Microsoft would tailor a future version of Quicken to do more extensive online banking. In addition, banks, credit card companies and software companies are developing advanced systems that would let people directly charge purchases made by a computer to a credit card number or online financian account. ‘Banks, retailers and others see personal-finance applications as the place where people will pay for things,’ said Jerry Michalski, who edits an industry newsletter called Release 1.0. ‘If Microsoft corners the market and takes a piece of every transaction, they worry Microsoft will get rich at everyone’s expense.’ … The government is worred about what the deal would mean for future competitors, even large financial institutions. In its brief, the Justice Department quoted a 1994 memo [Intuit’s President Scott] Cook wrote for Intuit’s board of directors in which he said that the deal would give financial institutions ‘one clear option, eliminating a bloody share war and speeding adoption,’ presumably of standards set by Microsoft and Intuit.”
Biography:Jerry Michalski took over the job of managing editor of Release 1.0 from Esther Dyson. (Futurist/Consultant.)
Date of prediction: January 1, 1995
Topic of prediction: Economic structures
Subtopic: E-commerce
Name of publication: Washington Post
Title, headline, chapter name: Intuit Deal Fears Center On Banking; U.S. Sees Microsoft Online Domination
Quote Type: Direct quote
Page number or URL of document at time of study:
http://web.lexis-nexis.com/universe/document?_m=2fce139982cc192b03faa6d36cae8b00&_docnum=6&wchp=dGLbVtb-lSlAl&_md5=cac29339414bc3a64180ff9ce3ad8bb8
This data was logged into the Elon/Pew Predictions Database by: Anderson, Janna Quitney