
Tech Brew Ride Home Wed. 10/26 – Meta Calls Apple On Its "Rentier Capitalism"
Oct 26, 2022
Major tech players Meta and Spotify are challenging Apple over its aggressive App Store policies that stifle competition. Microsoft faces financial woes, and Twitter is losing its core users, raising questions about platform sustainability. LinkedIn tackles the issue of fake accounts while unicorn startups become increasingly rare as venture capital tightens. Meanwhile, the IPO market is buzzing with Intel's Mobileye pricing and debates around Apple’s controversial ad practices add drama to the tech landscape.
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Apple's App Store Aggressiveness
- Apple is expanding its App Store fees to include advertising revenue from social media boosts.
- Meta and Spotify criticize this move as anti-competitive and harmful to developers.
Spotify vs. Apple on Audiobooks
- Spotify is struggling with Apple's App Store policies regarding audiobook sales.
- Apple rejected Spotify's in-app audiobook purchase system, forcing a complex and confusing workaround.
Spotify's Earnings and Price Hikes
- Spotify's stock dropped despite increased revenue and subscribers, likely due to missed ad growth targets.
- CEO Daniel Eck anticipates US price hikes in 2023 following competitor increases.
