๐๏ธ Google's Trial, Epic's Lawsuit, Meta Challenges Apple
Good morning. Itโs Monday, September 30. Today we are covering:
How Google Defended Itself in the Ad Tech Antitrust Trialย
Epic Games accuses Samsung, Google of scheme to block app rivals
Meta's New Headsets Show Apple Has Lost Its Way With the Vision Pro
Michigan nuclear plant finalizes federal loan to support first reactor restart in U.S. history
Fidelity has cut X's value by 79% since Musk purchaseย
Letโs dive in
How Google Defended Itself in the Ad Tech Antitrust Trialย
By Nico Grant via The New York Times
Google has defended itself in a U.S. antitrust trial by arguing that its ad tech operations are not monopolistic and promote healthy competition, despite claims by the Justice Department and state attorneys general of market dominance and unfair practices.
The company presented testimony from experts like Paul Milgrom, a Nobel Prize-winning economist, and Judith Chevalier from Yale, to argue that its ad pricing and market strategies are justified and competitive.
Google's defense highlighted how its advertising tools enhance transparency, increase revenues for publishers, and strengthen anti-fraud measures, countering government accusations of abusive market control and overcharging.
๐: Roll the tape, just reviewed transcript from Google's key paid expert witness testimony. Dr. Mark Israel was Google's hail mary to rewrite the story and redefine the market away from reality. I was there for much of it, but it really was spotty. - Jason Kint (@jason_kint)
Epic Games accuses Samsung, Google of scheme to block app rivals
By Mike Scarcella via Reuters
Epic Games has filed a lawsuit against Google and Samsung, accusing them of colluding to suppress competition and maintain Google's Play store dominance by discouraging Android users from downloading apps outside the Play store or Samsung's Galaxy store.
The lawsuit focuses on Samsung's Auto Blocker feature, which Epic claims was misleadingly promoted as a security tool but primarily serves to block downloads from alternative app sources, a move seen as a reaction to a December 2023 U.S. court decision favoring Epic.
Tim Sweeney, CEO of Epic Games, describes the lawsuit as part of a broader "major global fight" for competitive practices, indicating plans to also address these concerns with regulators in the European Union.
๐: Epic is suing Google and Samsung, alleging the companies colluded to impose friction on installing third-party app stores on Android devices. - Eric Seufert (@eric_seufert)
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Meta's New Headsets Show Apple Has Lost Its Way With the Vision Pro
By Mark Gurman via Bloomberg
Meta's new AR glasses and more affordable mixed-reality headset are ramping up the competition, pressuring Apple to succeed with its Vision Pro device.
Recent developments highlight Apple's slower pace of innovation, especially with its latest iPhone 16, as it also prepares to enhance its smart home product range.
There is renewed optimism that Apple will reintroduce the blood-oxygen monitoring feature in its upcoming watch updates.
๐: Power On: Metaโs latest headset and glasses push shows Appleโs own mixed-reality efforts need a complete makeover. - Mark Gurman (@markgurman)
Michigan nuclear plant finalizes federal loan to support first reactor restart in U.S. history
By Spencer Kimball via NBC Southern California
Palisades nuclear plant in Michigan has secured a $1.5 billion federal loan to become the first U.S. reactor to restart, setting a precedent for possible future reactivations such as Three Mile Island.
Scheduled for a 2025 restart, the plant aims to significantly bolster the local and national energy supply, directly supporting 600 jobs and powering up to 800,000 homes.
Holtec International, the plant's owner, has further plans to expand Palisades' capacity by installing new small modular reactors in the 2030s to streamline nuclear deployment and reduce operational costs.
๐: PALISADES NUCLEAR GETS FINANCIAL GREEN LIGHT TO RESTART Two down, one to go. Palisades nuclear plant, on the shores of Lake Michigan, has just closed a $1.5 billion loan to restart. The USA is almost out of restartable nuclear. Just Duane Arnold in Iowa. Then we build. - Mark Nelson (@energybants)
Fidelity has cut X's value by 79% since Musk purchaseย
By Manish Singh via TechCrunchย
Fidelity has drastically reduced its valuation of Elon Musk's X (formerly Twitter), now estimating its worth at just $9.4 billion, a 79% decrease from its purchase price of $44 billion.
The latest assessment by Fidelity's Blue Chip Growth Fund marks the value of its stake in X at approximately $4.19 million, reflecting a continued downward revision from an earlier $5.5 million.
This significant markdown is part of a broader trend of devaluation for X, suggesting ongoing challenges in justifying its operational and financial performance post-acquisition.
๐: Fidelity has cut its estimate of Xโs value by 79% since Muskโs purchase (Itโs now only worth ~$10 Billion) - Anonymous (@YourAnonNews)
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