Tech Brew Ride Home Wed. 11/18 – Crack! Apple Cuts Its App Store Vig In Half
Nov 18, 2020
Apple is shaking up the App Store by cutting its commission for small developers in half, opening doors for indie creators. Robinhood's potential IPO adds excitement to the market, while Marissa Mayer debuts a new contact management app. Discover Yubo, the next big French social app focusing on building friendships through live streaming and gaming. Plus, a French news site hilariously mismanaged automation by mistakenly publishing dozens of obituaries, showcasing the pitfalls of tech mishaps in journalism.
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App Store Crackdown
- Apple will cut its App Store commission to 15% for developers earning under $1 million annually.
- This move seems like a response to antitrust concerns but mainly affects smaller developers, not Apple's biggest earners.
Small Impact
- While impacting 98% of developers, this change only affects less than 5% of the App Store's total revenue.
- Apple retains its 30% cut for the top 2% of earners, generating 95% of its revenue.
Robinhood IPO
- Robinhood seeks advisors for a potential IPO in Q1 2021 after a boom in retail trading.
- The platform boasts 13 million accounts, catering to millennial and Gen Z traders.