Apple’s App Store Saga, Forge Global to Go Public Via SPAC & The Fintech Frenzy
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 13 September 2021
⏱️ 45 minutes
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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.m. Eastern. Listen in. |
| 0:36.0 | Good, my name. Good Monday morning. Welcome to the tech check. I'm Carl Kintanilla with John Fort and Julia Borsden. Today it's been more than a fortnight, but we finally have a ruling on Epic versus Apple. Did Apple win the battle, but not the war? |
| 0:38.2 | Then Goldman's out with its best internet ideas. We're going to break down those bull and bear calls later on this hour. And John is in |
| 0:43.8 | Seattle this morning at Amazon headquarters ahead of his major exclusive with Amazon CEO Andy Jassy |
| 0:49.6 | tomorrow, Julia. But we'll start with Epic Games and Apple. |
| 0:55.9 | We told you on Friday, a California judge ruled in favor of Apple in every charge except |
| 1:01.2 | one, saying that Apple wasn't unfairly monopolizing the mobile app space with its iOS or |
| 1:06.6 | its in-app purchasing systems. |
| 1:08.5 | But at the same time, ordering the company to remove its |
| 1:11.6 | anti-steering rules that ban developers from telling users about alternatives to Apple's in-app |
| 1:17.4 | payment systems. Epic Games has already filed an appeal. They were ordered to pay damages |
| 1:22.8 | to Apple for violating their developer agreement, while Apple's called the judgment a, quote, resounding victory. |
| 1:30.2 | So, John, no word yet from Apple if they plan to appeal any part of this. |
| 1:35.8 | But I do think now that the attention is going to shift to Capitol Hill. |
| 1:39.4 | We've got some bipartisan comments on Friday, you know, a lot of commentary that this is more evidence that |
| 1:46.2 | there needs to be legislation here to address these antitrust issues. Don't you think, John? |
| 1:52.6 | Well, maybe, but Julia, I can't help but think, okay, in June we had WWDC. That's like the first |
| 2:00.3 | of the most important Apple events where they lay out their software vision. |
| 2:04.7 | Tomorrow, we're going to get, we expect a new iPhone, perhaps a new Apple Watch. We get the hardware vision. |
| 2:10.7 | Apple's strength is in its ecosystem. It's in that vertical integration, tying the hardware, software services together. And once they do that, |
| 2:19.5 | they have so many different options for how they can monetize. So whatever rules I think Congress |
| 2:25.6 | might come up with and then they've got to socialize with their constituents, midterms are coming |
... |
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