Big Tech Takes Losses in EU Lawsuits
- Alexangel Ventura
- Sep 10, 2024
- 1 min read
After a bombardment of court cases issued by the European Union to the likes of Big Tech, tech monopolies fell apart today.
Apple, which faced a strong of lawsuits from EU member states such as Spain and Ireland, lost $14 billion in a tax settlement. Additionally, Google lost a 2.4 billion Euro case which found it guilty of evading antitrust laws and manipulating the markets for its sole advantage,
As Big Tech companies such as Apple and Google continue to expand, they are finding more ways of growing their market share and decreasing competition in their respective markets.
We are increasingly finding world governments taking a strong stance on preventing further monopolization. The U.S. government has also launched an antitrust probe on Google just last week.
