Tech Brew Ride Home Thu. 03/21 – The DOJ Sues Apple
Mar 21, 2024
The DOJ has launched a lawsuit against Apple, alleging anti-competitive behaviors. Reddit is set to make waves with its IPO, marking a major moment for social media. Carvana has made a stunning recovery, going from financial troubles to record profits. Meanwhile, Amazon is strategically combating rivalry from brands like Temu and Shein. Excitingly, Neuralink has introduced its first human patient showcasing brain-computer interface technology, raising ethical questions in the process.
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DOJ Sues Apple
- The DOJ sued Apple for anti-competitive practices, alleging they block rivals and limit user switching.
- This lawsuit follows similar ones against Amazon, Google, and Meta, marking a trend in Big Tech antitrust actions.
Reddit IPO
- Reddit's IPO priced at $34 per share, raising $519 million, but its valuation dropped from its 2021 peak.
- This drop reflects a broader trend of startups reducing valuations amid market changes, while AI-related companies are attracting investor interest.
Epic Games Store on Mobile
- Epic Games Store will launch on iOS and Android with a 12% commission, undercutting Apple and Google's rates.
- This move reignites Epic's previous attempts to establish its store on mobile platforms, offering potentially better terms for developers.