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Marketplace Tech

EU fines Apple over competition, Change Healthcare cyberattack drags on, and Max will join the crackdown on password sharing

Marketplace Tech

Marketplace

News, Technology

4.51.3K Ratings

🗓️ 8 March 2024

⏱️ 13 minutes

🧾️ Download transcript

Summary

Late last month, Change Healthcare, a unit of UnitedHealth, came under attack by an infamous hacker group called BlackCat. $22 million in ransom later, reportedly paid in bitcoin, and the problem is far from solved. Also this week: Max, previously HBO Max, announces a crackdown on password sharing — maybe it’s time to dust off the old DVD player. But first, Apple on Monday got hit with a massive fine from regulators in Europe. They say the company used its app store dominance to box out music streaming services competing with its own. What’s $2 billion to the tech titan of Cupertino? Marketplace’s Lily Jamali asked Chrissy Farr, a health tech investor at OMERS Ventures, for today’s episode of Marketplace Tech Bytes.

Transcript

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0:00.0

Why a cyber attack against one company has paralyzed payments across so much of US health care.

0:08.0

From American public media, this is Marketplace Tech.

0:11.0

I'm Lily Jamali. Last month, change health care, a unit of United Health, came under attack by an infamous

0:26.7

hacker group called Black Cat. $22 million in ransom later, reportedly paid in Bitcoin, and the problem is far from solved.

0:37.0

Also this week, yet another streaming service has announced a crack down on password sharing.

0:42.0

Maybe it's time to dust off the old... announced a crack down on password sharing.

0:42.8

Maybe it's time to dust off the old DVD player.

0:46.5

But first, Apple on Monday got hit with a massive fine

0:50.2

from regulators in Europe.

0:52.0

They say the company used its app store dominance to box out music

0:56.1

streaming services competing with its own. What's $2 billion to the tech titan of Cupertino we ask Chrissy Far a health

1:04.3

tech investor at Omer's Ventures for today's episode of Marketplace Tech Bites.

1:08.9

Two billion is very little for Apple giving them a

1:13.8

they make so it's like being fined peanuts but I think the symbolic

1:18.8

aspect to this is is more important and hearing the EU and Spotify both come out and say that Apple isn't sharing these cheaper

1:28.0

alternatives to two customers and it is abusing its position both with music streaming services and everything else.

1:36.9

And then you just see kind of the continued momentum around anti-competitive, anti-trust,

1:42.0

building up in the EU and elsewhere.

1:44.3

So I think this is important, but again, more symbolic than Apple quaking in its boots around

1:51.0

having to pay such a hefty monetary fine.

1:54.0

Yeah, and speaking of antitrust in Europe,

1:57.1

changes that were required under Europe Digital Markets Act

...

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