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Replies to post #26794 on The Rising Influence of Rising Affluence
11/09/22 8:25 AM
In a message to staff on Wednesday morning, Chief Executive Mark Zuckerberg said the company, the parent of Facebook and Instagram, would cut staff across all of its businesses, with its recruiting and business teams disproportionately affected. The company is also tightening its belt by reducing its office space, moving to desk sharing for some workers, and extending a hiring freeze through the first quarter of 2023.
01/24/23 1:34 PM
Filed in federal court in Virginia on Tuesday, the case alleges that Google abuses monopoly power in the ad-tech industry, hurting web publishers and advertisers that try to use competing products.
The lawsuit asks the court to unwind Google’s “anticompetitive acquisitions” and prevent the company from obtaining similar dominance in the future.
…Justice Department’s new suit targets the subset of that ad business that brokers the buying and selling of ads on other websites and apps. Google reported $31.7 billion in revenue in 2021 from that ad-brokering activity, or about 12% of Alphabet’s total revenue. Google distributes about 70% of that revenue to web publishers and developers [i.e. Google takes a 30% cut of this revenue for use of its platform—Dew].
Last year, Google offered to split off parts of its ad-tech business into a separate company under the Alphabet umbrella to fend off the most recent Justice Department investigation. Justice Department officials rejected the offer and decided to pursue the lawsuit instead.
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