Sorry - my eyes are still rolling. I wasn't ridiculing your question.
Google is a search engine, and it can't even put Yahoo out of business.
Not saying Google sucks. It is an amazing, valuable company, run by smart people. But I think the "inevitable technological convergence of doom" argument is the thinnest argument ever made in the business world. It's never overnight and it very seldom plays out like people assume it somehow must.
Just reading now. Thank you for the compliment :-) Here's what I think:
Apparently Google (quietly) thinks that it will be possible to gmail money for free to anyone using Google Wallet. Suddenly, now, even though Google Wallet and Gmail are old. ...I guess PayPal and Western Union didn't think of this? Visa, MasterCard, they're gone also, by the way. Gone. Puff of smoke. Yahoo: Gone. (But NOT MoneyGram). :-) Boy, Google is SO SMART these other lame-o companies are TOTAL MORONS. Cut up your Visa card! Just Google the cash!
A few months ago, I thought PayPal was going to destroy Western Union. Now Google will destroy PayPal and Western Union before PayPal can destroy Western Union. In the end, does Xoom destroy Google?
Google... ...has a lot of big ideas. The self-driving car will replace driving (except, it never will, as no one wants a self-driving car). Everyone will wear Google Glass because we want computers on our faces all the time (no one does). Google Plus, that will blow Facebook and LinkedIn away - give that about a week (no one uses Google Plus). And now, I see magically compliance-free, totally costless money transfers will put PayPal and Western Union out of business by the end of 2013. So everyone go sign up for Google Wallet please. Trust Google, and remember boys and girls, don't be evil.
Yes, I can see it now: everyone in the cash-dependent developing world, with no bank account, will run quick to the nearest computer, and go sign up for Google Wallet. (Mmm hmm!) Though dependent on remittances, they will buy a $500 smartphone, to make it more even more digitally convenient.
Any time I hear that any company - and *particularly* Google - has some magic way that will instantly destroy other multibillion-dollar enterprises in one fell swoop, I know what to think: Prove it, Google. Do it.
Market doesn't think WU is OOB. Looks like consolidation to me, today, on a sideways market day, despite Google having changed the world
One of the points in the 5/10/13 Forbes article was that Internet-based solutions such as PayPal aren't comparable, because it can take several days to a week for the money transfer to be accomplished, whereas a transfer by Western Union is instantaneous.