Apple loosens app store payment rules in lawsuit settlement

“Apple has agreed to let developers of iPhone apps email their users about cheaper ways to pay for digital subscriptions and media by circumventing a commission system that generates billions of dollars annually for the iPhone maker.”

The take rake…

It is the Silicon Valley’s bread basket. Riddled with antitrust violations, pay-to-play steering, kickbacks, price fixing, consumer allocation, and gig economy’s labor violations. These fat cats are reaping off consumers on daily basis, calling it “disruption.”

An ability to preserve a take take is why Apple Pay is tied into the App Store. This is why Google Pay is tied into the Play Store. This is why Uber sets prices for independent drivers via ride-hailing platform.

Over the last decade, open e-commerce has been attacked by anticompetitive tying and price fixing tendency, often backed with massive VC capital.

This is no longer a case. Today, raked marketplaces are staring at a dead end wall. The take rake is no longer a “dirty little secret” but a major antitrust violation. These settlement does not in any way diminish billions of damages still outstanding and to be assessed by the federal agencies on behalf of consumers

Apple is hardly off the hook. The Sherman Act violations are a felony and the government must impose real fines on the entity, something that makes it hurt and hurt again. There are billions in damages here, not millions.

This disruption on the basis of the Sherman Antitrust Act is also the start of new Web 3.0 policies and principles — open e-commerce (not the Web3 crypto thing, the real Web 3.0, that is)

Next up to burn alive are online real estate broker referral fee networks, gig economy platforms, and OTA websites

#antitrust #bigtech #tying #apps #payment #payments #ios

Author: Litesand

Antitrust, real estate, e-commerce, fintech, proptech, bigtech

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