Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Elon Musk
Apple
OnePlus
NOTHING
Latest Laptops
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Technology News / Apple Card doesn't discriminate against women, investigation reveals
Technology

Apple Card doesn't discriminate against women, investigation reveals

Apple Card doesn't discriminate against women, investigation reveals
Written by Nachiket Mhatre
Mar 24, 2021, 11:52 pm 2 min read
Apple Card doesn't discriminate against women, investigation reveals

What do air conditioning, the Dalai Lama, HIV, chess, head injuries, climate change, beer, science, and meritocracy have in common? All of these were considered sexist in the crazy ride that was the last decade. Even the Apple Card was accused of being sexist in 2019, which led to a formal investigation of the issuer Goldman Sachs. Turns out, that was a big nothingburger.

Facts are sexist
Massive inquest analyzed 400,000 applicants, scrutinized Goldman Sachs financial algorithms

A comprehensive inquest by the New York State Department of Financial Services (NYSDFS) has absolved Goldman Sachs of all sex discrimination allegations after it was called out for giving women applicants lower credit limits. The investigation involved statistical analysis of 400,000 New York applicants and scrutinized financial models and algorithms used by card issuer to grade applicants. It found no wrongdoing at any level.

Occam's Razor
Silicon Valley feminists divorced from reality waste taxpayer money

Card issuer Goldman Sachs was falsely blamed for sexist practices after Silicon Valley feminists Steve Wozniak (Apple co-founder) and David Heinemeier Hansson (Ruby on Rails creator) found that their wives were assigned lower credit limits. Apple itself has little control over the financial nitty-gritty of Apple Card policies. The woke millionaires failed to realize that financial risk assessment is based on hard numbers.

Big nothingburger
Goldman Sachs provided proof backing all credit decisions under scrutiny

NYSDFS managed to obtain specific justifications from Goldman Sachs for every single one of the 400,000 applicants scrutinized. In each instance, the card issuer cited exact parameters such as credit score, income, indebtedness, missed payments, and other credit history to prove that it had acted lawfully. Goldman Sachs's decisions were found in compliance with legal credit policies and exhibited no gender-based discrimination.

Hard science
Gender-neutral mathematical models and algorithms invariably tend to be 'sexist'

This isn't the first time feminists have discovered how mathematical models and algorithms tend to be "sexist". Gender-neutral assessment methods generally turn out to be detrimental to women. Back in 2017, the Australian public service had to cancel its blind recruitment model after it failed to achieve its intended goal of boosting female recruitment, but instead caused fewer women to get hired.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Nachiket Mhatre
Nachiket Mhatre
Mail
Growing up, I had a penchant for disassembling appliances; most of which couldn’t be reassembled successfully. My parents didn’t approve. Now, I leverage my lifelong pursuit of dissecting gadgets to write about tech. My parents still don’t approve.
Latest
Apple
Goldman Sachs
Latest
Google Hangouts will hang up its boots in November
Google Hangouts will hang up its boots in November Technology
Volkswagen ID. AERO concept electric sedan breaks cover: Check features
Volkswagen ID. AERO concept electric sedan breaks cover: Check features Auto
All major films hitting theaters in July 2022
All major films hitting theaters in July 2022 Entertainment
India beat Ireland in 2nd T20I, seal two-match series 2-0
India beat Ireland in 2nd T20I, seal two-match series 2-0 Sports
Moto G42's India launch on July 4: Check expected price
Moto G42's India launch on July 4: Check expected price Technology
Apple
Apple's M2-powered MacBook Pro has slower SSD than its predecessor
Apple's M2-powered MacBook Pro has slower SSD than its predecessor Technology
Apple student discount 2022: Deals on MacBooks and iPads
Apple student discount 2022: Deals on MacBooks and iPads Technology
How to redeem Free Fire MAX codes for June 27
How to redeem Free Fire MAX codes for June 27 Technology
Prior to debut, Apple AirPods Pro (2nd generation)'s features leaked
Prior to debut, Apple AirPods Pro (2nd generation)'s features leaked Technology
Apple's AR/VR headset could release in January: Check rumored features
Apple's AR/VR headset could release in January: Check rumored features Technology
More News
Goldman Sachs
How Apple is assuming banking tasks with Pay Later service
How Apple is assuming banking tasks with Pay Later service Business
Dailyhunt is now a unicorn, receives $100 million funding
Dailyhunt is now a unicorn, receives $100 million funding Business
Amid coronavirus pandemic, MTV VMA 2020 to be held outdoors
Amid coronavirus pandemic, MTV VMA 2020 to be held outdoors Entertainment
Coronavirus: Goldman Sachs says face masks can save US economy
Coronavirus: Goldman Sachs says face masks can save US economy World
Coronavirus: Italy records second-deadliest day with 743 new deaths
Coronavirus: Italy records second-deadliest day with 743 new deaths World
More News
Next News Article
Next News Article

Love Technology news?

Subscribe to stay updated.

Science Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022