Business Rundown: Apple vs. The World

The Fox News Rundown

FOX News Podcasts

Daily News, News, Politics

3.4 • 1.7K Ratings

🗓️ 8 July 2024

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s Apple vs. the world right now, as they face antitrust battles across the globe—the US & the EU are suing the iPhone maker over alleged anti-competitive behavior. In March, the Department of Justice presented their case in a press conference, explaining all of the ways Apple products and services are designed to keep you in the “Apple ecosystem”: from the iPhone to the Apple Watch to the App Store, and more. The Big Money Show’s co-anchor, Taylor Riggs, is joined by antitrust expert, author, and professor at NYU Law School, Harry First, to break down the monopoly allegations facing Apple and how to maintain fair competition in the business world while still allowing capitalism to choose winners and losers. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This Monday you're getting a business rundown.
0:04.4	This Monday you're getting a business rundown deep dive.
0:11.4	When big topics in the business world pop up sometimes you're
0:15.0	going to need some context on the business rundown we'll catch you up to speed
0:19.4	today's topic Apple versus the world on Green Texts, the App Store, and Antitrust coming for their monopoly.
0:27.8	Well, this is a major lawsuit. The government hadn't really attacked Apple's business practices full head on ever.
0:35.0	The DOJ announcing its lawsuit involving Apple.
0:38.0	Mary Garland laying into Apple as he announces an anti-
0:41.0	European Union is filing charges against the tech company.
0:43.7	I'm also questioning this apple situation.
0:49.6	This June the tech giant apple was slapped with fresh charges from the European Union regulators
0:54.7	that their products and services violate digital competition rules.
0:59.7	If this is sounding familiar, it's because Apple is already facing an antitrust lawsuit in the United
1:05.3	States from the Department of Justice. Attorney General Merrick Garland announced this
1:10.6	in a March press conference.
1:12.4	Apple creates barriers that make it extremely difficult and expensive for both
1:17.1	users and developers to venture outside the Apple ecosystem.
1:22.0	Apple knowingly and deliberately degrades quality privacy and security.
1:27.0	A.G. Garland explains that apple engages in anti-competitive behavior in a few ways which we will get into soon.
1:35.0	But a key part of the story comes from this EU regulation.
1:39.0	In the past few decades big tech companies like Apple, Amazon, Google, and Meta have been largely
1:45.4	untouched by government restrictions. Then in May 2023 Europe's Digital
	...

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