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Red Robin's CEO discusses efforts to turn the burger chain into a premier fast casual dining destination. Also, Apple earns 36% of Google search revenue from safari, Target's efficient quarter and product mix decisions, and Airbnb's $200M acquisition of AI company GamePlanner.AI.
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- Apple earns 36% of Google's search revenue through their default agreement on Safari, cementing Google's dominance in search advertising.
- Target's focus on operational efficiency and strategic initiatives, like introducing more affordable gift options and loyalty programs, contributed to increased customer spending and improved profitability.
Deep dives
Google Pays Apple 36% of Safari Search Revenue
During the antitrust trial between Google and the Department of Justice, it was revealed that Google pays Apple 36% of the revenue it generates from Safari searches. This arrangement exists due to Apple's control over the Safari browser on its iDevices, specifically iPhones. The CEO of Google, Sundar Pichai, confirmed this during his testimony. While this partnership seems mutually beneficial, there are questions about the discrepancy in payments with other key partners like Samsung. Nonetheless, being the default search engine on Apple devices is crucial for Google as it maintains its lead in search advertising.
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