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FT News Briefing
US prosecutors take a bite out of Apple
Mar 22, 2024
Reddit's soaring IPO, US prosecutors suing Apple for antitrust, Hertz's failed electric vehicle pivot, and challenges of EV adoption in the rental car industry are discussed in this episode.
10:50
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Quick takeaways
- US prosecutors sue Apple for smartphone market monopoly, signaling intense antitrust scrutiny on big tech.
- Hertz's struggles with EV pivot reveal challenges including car damages, resale value issues, and consumer hesitancy.
Deep dives
Reddit's Market Debut and US Antitrust Lawsuit Against Apple
Reddit's Market Debut was successful with shares jumping almost 50%, indicating confidence in the IPO market. The US Department of Justice sued Apple, accusing them of monopolistic control in the smartphone sector, hindering consumer choice and developer innovation. This lawsuit is part of the Biden administration's intensified scrutiny on big tech companies, aligning with broader antitrust efforts in the tech industry.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode