Apple’s App Store Concession, The Rise of Social Audio & “Bad Blood” Author John Carreyrou on Elizabeth Holmes’ Trial

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 2 September 2021

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start off today’s show with the details on Apple’s latest app store changes as part of a settlement with the Japan Fair Trade Commission. We bring in Platformer Editor Casey Newton to further break down the changes and share where he sees future growth for the company outside of its app store. We also have the details on YouTube Music hitting a major milestone of 50 million paid subscribers and we cover the launch of Twitter’s subscription service Super Follows. Next, Co-Founder of new social podcasting app Callin’ and Former PayPal COO David Sacks joins to discuss the social audio space and investing in fintech. Later, we’re following the Elizabeth Holmes trial with “Bad Blood” Author John Carreyrou joining us live outside the courthouse in San Jose to share his take on the case. Then, we hear from Solv CEO Heather Fernandez as the health tech startup secures a $45 million funding round. And later, Wall Street Journal Reporter Joanna Stern is here to share her thoughts on Apple’s app store saga.

Transcript

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0:00.0	I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a. tech. Welcome to Tech Check. I'm John
0:29.2	Fort with Julia Borsden. Didra and Carl have the morning off. Coming up on the show today,
0:34.5	Apple's App Store concession, how pressure coming from overseas is changing
0:39.0	the rules for all developers, plus alphabet stock at another all-time high, but listen up.
0:44.9	New numbers out of YouTube music could be the sound of the next growth driver. And then
0:49.6	tips for tweets will users pay for access to their favorite follows?
0:54.9	And we will start with Apple, a series of lawsuits and regulatory challenges around the world,
1:01.1	changing the way Apple runs its app store.
1:04.0	New last night is part of a settlement with a Japanese regulatory probe that's been going on for five years.
1:09.7	Apple says developers of readers apps, that includes newspapers, books, audio, music, and video are not going to be able to include links within their apps for customers to sign up for paid accounts. A big caveat here. Netflix and Spotify do seem to fall into that category, but gaming and in-app purchases,
1:30.9	which account for about 90% of app store revenue, do not. This, of course, follows South
1:37.1	Korean legislation that ensures Google and Apple are going to have to let app developers use
1:42.7	alternate payment systems there.
1:45.1	And if that's not enough, India trying to strike while the iron's hot this morning filing
1:48.5	their own antitrust suit against Apple, alleging the 30% commission fees, stifle competition,
1:55.1	the overall thrust of all these challenges and changes, is that Apple's grip on that 30%
1:59.6	fee that it charges some developers,
2:02.5	not all, that's eroding.
2:03.7	The Waldgarten ecosystem of the app store, perhaps under some threat.
2:09.0	Julia, I think that this latest shift out of Japan, especially if it does, in fact,
2:14.6	apply to the likes of Spotify, of Netflix, if you can actually buy
2:20.4	Kindle books directly, which it's not clear that you'd be able to. But that would be a big deal,
	...

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