EU Puts Big Tech in Hot Seat & NBA Champs For Sale?
Jul 2, 2024
27:56
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The podcast discusses the EU's crackdown on Big Tech, the potential sale of the Boston Celtics, 'junk' patents in the pharmaceutical industry, Roaring Kitty's move to Chewy.com, the rising trend of 'romantasy' novels, and China's strategy to bypass US tariffs with golf carts.
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Quick takeaways
EU accuses Big Tech of anti-competitive practices, potential fines for violations.
FTC investigates pharmaceutical companies over 'junk' patents to prevent generic competition.
Deep dives
Supreme Court Ruling on Former President Trump
The Supreme Court's recent 6-3 opinion provides former President Trump with immunity from criminal charges related to his attempts to overturn the 2020 election results. The ruling shields him from prosecution for official acts undertaken during his presidency but not for unofficial actions as an individual. This decision impacts Trump's ongoing criminal cases, delaying a trial over his alleged election interference until after the November elections.
EU vs. Meta and Compliance with Digital Markets Act (DMA)
European regulators have accused Meta of violating the Digital Markets Act by offering a subscription service to avoid personalized ads on Instagram and Facebook. The EU argues that this model limits user choice regarding data privacy and constitutes a violation of the DMA. Meta faces potential fines amounting to 10% of their global revenues if found guilty after an investigation, signaling the strict enforcement of tech regulations in Europe.
FTC's Investigation into Pharma Patents
The FTC has launched an inquiry into Teva Pharmaceuticals over alleged patent manipulations for its asthma and COPD inhalers. Teva's minor product alterations are believed to extend patent protections to fend off generic competition, affecting drug prices significantly. This focus on challenging misleading patents aligns with the FTC's efforts to combat anti-competitive practices in the healthcare industry and reduce drug prices for the benefit of consumers.
Episode 356: Neal and Toby dive into the EU’s latest campaign against Big Tech, namely Meta and Apple, alleging these companies are stifling competition in Europe. Then, the Boston Celtics are just coming off an NBA championship, but that doesn’t stop the owners from selling the team. Plus, the FTC is looking into ‘junk’ patents from pharmaceutical companies meant to prevent generic drug makers from cutting into their business. Meanwhile, Roaring Kitty is at it again, this time making movements for Chewy.com. Next, Toby examines the trend of ‘romantasy’ novels that are flying off the shelves. Lastly, China might have a way around high US tariffs: golf carts.