Yelp hits Google with search monopoly lawsuit
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 29 August 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Thursday, August 29th. I'm Julie Morgan. |
| 0:13.4 | Yelp is suing Google. |
| 0:15.2 | Draft Kings is getting into the world of in-play betting, |
| 0:18.8 | and GameStop is embracing the throwback.p has sued Alphabet's Google. |
| 0:25.0 | Yelp alleges that Google is abusing its dominant position to control local search and |
| 0:30.4 | associated advertising markets, thereby stifling competition. |
| 0:35.6 | The online review platform claims that Google uses its monopoly power in general search |
| 0:41.0 | to divert traffic away from local search competitors and its own search engine. |
| 0:46.8 | According to yelps complaint Google self-preferencing and gatekeeping has resulted in stagnant or diminished traffic to yelp. and as confirmed by Google's own quality indicators. |
| 1:03.6 | The lawsuit pointed to the US government's landmark antitrust win |
| 1:07.8 | against Google after a judge ruled it maintained |
| 1:10.7 | its search monopoly through exclusive distribution agreements. |
| 1:14.7 | Yelp's legal challenge suggests that more companies may consider suing Google over its alleged |
| 1:20.4 | monopolistic practices. The company mentioned other platforms such as Expedia, Glass Door, and Zillow. |
| 1:28.0 | A Google spokesperson responded and said, |
| 1:30.8 | yelps claims are not new. |
| 1:32.8 | The statement went on to say that similar claims |
| 1:35.5 | were thrown out years ago by the FTC, |
| 1:38.4 | and recently by the judge in the DOJ case. |
| 1:41.6 | The statement also says that Google will vigorously defend against |
| 1:45.8 | Yelp's meritless claims. Yelp said in a blog post that Google is the largest |
... |
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