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  • A typical day in the life of a “monopolist”

    The EU’s second-most senior court, the General Court, has upheld a 2017 ruling by the European Commission which found that Google broke antitrust law in how it used its search engine to promote its shopping comparison service and demote those of its rivals.

    Google and its parent company Alphabet appealed the decision, but the General Court today dismissed that appeal and upheld a fine of €2.4 billion ($2.8 billion). Google and Alphabet now have the option to appeal the decision yet again with the EU’s highest court, the European Court of Justice (ECJ).

  • Some say the fine is too much, but if you compare it to the revenue, it is more than fair….I think it is not enough to make them change, but enough to get their attention

    *Alphabet revenue for the quarter ending September 30, 2021 was $65.118B, a 41.03% increase year-over-year.
    *Alphabet revenue for the twelve months ending September 30, 2021 was $239.210B, a 39.32% increase year-over-year.
    *Alphabet annual revenue for 2020 was $182.527B, a 12.77% increase from 2019.
    *Alphabet annual revenue for 2019 was $161.857B, a 18.3% increase from 2018.
    *Alphabet annual revenue for 2018 was $136.819B, a 23.42% increase from 2017.

    (Source: https://www.macrotrends.net/stocks/charts/GOOG/alphabet/revenue)

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