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TechCheck

Google, Apple & An Epic Win 12/12/23

TechCheck

CNBC

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

4.566 Ratings

🗓️ 12 December 2023

⏱️ 14 minutes

🧾️ Download transcript

Summary

A big blow to Google and the power of its app store. A federal jury found that Google turned its "Play Store" and billing service into illegal monopolies. What comes next for Google…. and Apple.

Transcript

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0:00.0

A federal jury found that Google turned its play store and billing service into illegal monopolies.

0:09.7

What comes next for Google and Apple?

0:15.0

It's Tuesday, December 12th. Welcome to the Tech Check Podcast.

0:16.8

I'm Dear Durbosa.

0:18.0

And I'm Mark Gilbert, a major court case win

0:21.0

for Epic Games, the maker of Fort Knight, which has famously challenged

0:25.4

Apple and Google over their App Stores, basically protesting the 30% cut that the platforms

0:32.0

take from the revenue that occurs within apps on their

0:35.6

app stores. Epic lost its suit against Apple, but last night unanimous jury

0:41.2

ruling it won

0:42.6

against Google.

0:44.2

Yeah and for years the tech giants they have argued that their

0:48.2

App Store rules and restrictions they exist to benefit customers more security more ease less friction this ruling chips away at that

0:57.6

argument that they've been relying on for so long and it really challenges the idea of

1:02.4

Google and Apple as gatekeepers.

1:04.6

Now the immediate implications they're uncertain and that's probably why you didn't see Google

1:08.7

stock react too much.

1:10.2

It was less down than one percentage point today and the judge in this case

1:14.3

it's going to decide on the appropriate remedies next month and Google has said

1:18.1

that it will appeal so Mark this really kind of opens up the likelihood that this is going to take time.

1:25.8

Nothing is going to change right away.

1:27.4

It's not like that revenue model that the App Store and the Google Play Store has is going to change.

...

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