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STORY HIGHLIGHTS
The definition of money is
starting to change, says Paul
Kemp-Robertson
He believes brands w ill have
their ow n shadow economies,
endorsed by consumers
'Is there a reason for traditional
institutions to be in charge of
money anymore?' he asks
Future Finance
Cyberattacks: the threat from inside
July 16, 2014 -- Updated 1634 GMT (0034 HKT)
http://edition.cnn.com/2014/08/05/opinion/starbucks-nike-currency/index.html?eref=mobiles_republic
1/7
8/11/2014
Paul Kemp-Robertson
If people are
starting to
interrogate what
money means, is
there a reason for
traditional
institutions to be
in charge of
money anymore?
Paul Kemp-Robertson
http://edition.cnn.com/2014/08/05/opinion/starbucks-nike-currency/index.html?eref=mobiles_republic
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Today's five m ost popular stories
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8/11/2014
lifestyle brand
The article states: "Retailers will need to think like bankers who mint
their own currencies. Market leaders will be those who best help
consumers manage and spend Branded Currency from their
portfolios, offer the best exchange rates, create the most liquidity,
and make the most efficient markets."
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39 Comments
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6 days ago
STALE beans.
OVER--priced, mediocre coffee.
BIOSPHERE degrading plastics.
NO table service.
----------------------------------------- = TOTAL RIPOFF!
http://edition.cnn.com/2014/08/05/opinion/starbucks-nike-currency/index.html?eref=mobiles_republic
3/7
8/11/2014
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a human
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Paid Commenter
Wow the very first comment is from a troll. FYI sbux doesn't have a franchise
model.
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Niko
That's not even a problem. The problem is quality of the coffee they
are selling for a premium price to wanna be losers.
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roadmouth
5 days ago
A poorly thought-out and written article. The entire premise is based on a crucial line
in paragraph 3. " Annual surveys like the Edelman Trust Barometer suggest that the
world shows greater faith in peers and corporations than governments and central
banks. " But people don't bank with governments or central banks. They bank with,
how do you say in English, BANKS! So, why no mention of the reason people don't
trust their banks? Because nearly every other survey indicates that people trust their
bank and credit unions vastly more with their financial data than brands such as
Starbucks and the government.
I'd suggest CNN look at any article covering finance, and eliminate all those
beginning with the caveat, " I don't claim to be an economist or a financial expert".
Might be a good heads up that that person is just talking smack and promoting his
own company - which is mentioned 3 times.
8
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whatthebleep
6 days ago
Uhh... You mean the corporations are not running "shadow economies" now. In
actuality, governments may be people's last hope against the corporations, despite
the heavy amount of bribery that occurs behind the scenes today in making national
policies.
6
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jackandjill
Unfortunately, that may not be the case. There is already unholy and
inseparable cooperation between those entities. Govt is using corporations
when it comes to violating privacy of citizens etc. And Corporations are using
Govt entities heavily for lobbying etc. Breaking that cooperation is impossible,
specially given the incentives for both sides.
1
funk
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6 days ago
Really? You guys are living in a dream fantacy world...Your next bank will be yours!
YOU WILL BE THE BANK! Decentralized cryptographic open source blockchain
technology digital currency is the most free-market system ever! Everything else is
false! BITCOIN = INDEPENDENCE and FREEDOM!
5
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Marilena Fenn
5 days ago
Starbucks is NOT my "bank" nor will it ever be. Rude people, bad customer service,
dried up food, rotten bananas, poor customer service. NOT my bank, pal.
4
10/6
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6 days ago
Hey, Paul..., you must have written this article while vacationing in Colorado, didn't
you? Smoke a little too much of the ganja, did we???
4
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I Equals You
6 days ago
Stand in line to have exorbitantly priced bad tasting coffee with strange Italian names.
I don't understand how Starbucks has been successful this long.
3
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http://edition.cnn.com/2014/08/05/opinion/starbucks-nike-currency/index.html?eref=mobiles_republic
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8/11/2014
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knownquantity
6 days ago
So, basically, it was a complete failure in the 19th century, but it's supposed to be a
great idea now?
3
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Anonymous_Joe
5 days ago
Why Starbucks will likely be my next bank? I figured because I would need to take
out a loan to buy a cup of coffee.
2
Ice
Reply Share
5 days ago
This is a dangerous idea. Why do people think it's necessarily good to have these
currency options that are outside government control? Hello, regulations? Recipe for
disaster if on a large scale. Very naive.
2
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mrelon
6 days ago
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6 days ago
There needs to be an underlying currency that everyone agrees on. Nike can try and
make it's currency all it wants, but no one is going to accept Nike cash for a burger. It
just won't happen.
2
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kai121
a day ago
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2 days ago
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6 hours ago
I used to like starbucks until I realized I am drinking only sugar and their coffee
sucks! And they are overpriced. And they are not environmentally friendly. So yea..I
stopped drinking starbucks.
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Sean Mccoy
13 hours ago
Cinnamon Hearts
a day ago
Matt Wesselhoff
4 days ago
Paul, how can in one in three drinks at Starbucks be freebies they're giving away?
Can't be right.
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Sam
I personally hate Starbucks. But I was in there once while visiting a friend in
Boston. He needed internet and we went into a starbucks, didn't buy anything
and used the internet for about an hour and a half before the employee came
up to us with a large coffee and said, "We noticed you guys sitting here for a
while with nothing to drink, so here's a free one". I was quite surprised.
1
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kshoosh86
5/7
8/11/2014
[edit: nor, for that matter, how Starbucks is staying in business if 30% of
sales are free.]
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Andrew
They have actually changed the program some, and its a free drink
after 12 purchases/stars now, but your point stands. I have no idea
how that translates to 30% of their transactions being done with stars.
Reply Share
KoreaEastSea
5 days ago
GotchaGlobal
I suspect because the moniker that is the Starbucks logo is now viewed as a
status symbol, if only nominally. Sadly, human gullibility and drive for preening
amongst fellow humans remains ubiquitous across the nearly 200 nation
states of the world. Surely most of us are guilty of being label slaves, or so
the leading merchandisers and their marketeers certainly continue to hope.
1
Reply Share
Victor McCaliph
6 days ago
Gersdd
Reply Share
Koreansdisqus
6 days ago
Starbucks Coffee, is only American company doing well in Korea. Koreans drink
more coffee then any fast food business in Korea........ Koreans love coffee,
Starbucks blends well in Korea Society.......
Reply Share
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KoreaEastSea
5 days ago
KoreaEastSea
Lol V-line
Reply Share
KoreaEastSea
5 days ago
KoreaEastSea
WTFuKKK
Sarebolth
Of course! Just look at the shape of the logo and the same shape on the S
Korean flag!
Reply Share
Koreansdisqus
That was Pepsi ( old logo) not Starbucks.... Starbucks is doing very
well in Korea because Koreans admit Starbucks has best coffee in
http://edition.cnn.com/2014/08/05/opinion/starbucks-nike-currency/index.html?eref=mobiles_republic
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Niko
Sturbucks has the best coffee? Have you ever tried real
coffee? Come to Europe, we'll show you real coffee (hint: it is
not drank by gallons or huge Styrofoam cups). Starbucks is
for bourgeoisie (people with no taste).
Reply Share
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