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Apple is Hit with a 1.8 Billion Euro Fine
Apple getting sued 1.8 Billion Euros by the EU, Elon Musk is currently challenging OpenAI saying they had breached an agreement in which he agreed to in 2015 when he helped start it and chip maker ASML is looking to move their business out of the Netherlands.
The European Commission has fined Apple 1.8 Billion Euros for violations in how they share and allow for users to use streaming sites on their IPhones and IPads. The investigations revealed that restrictions were placed on the developers to prevent them from informing clients about
other cheaper payment options outside of the App Store.
They had failed to have their developers inform users of other, cheaper music streaming sites outside of the Apple ecosystem and as such this is considered illegal under EU antitrust laws. Due to the Monopoly behaviour exhibited, this has been considered unfair trading conditions.
The case has been ongoing since 2019 when Spotify had first informed the EU of a 30% purchasing fee in which Apple was charging them. To add to that, they were unable to tell consumers that there was a much cheaper payment option outside of the App Store. Apple shared that Spotify was able to grow their company into the largest digital music site in the world. Apple responded sharing that they helped markets thrive through the use of the App Store and they don’t find the reasoning just and as such they will appeal. However a response from the Luxemburg court, which is the second highest in Europe will take years and until such time Apple will have to pay the fine and comply with the EU regulations.
Elon Musk has sued OpenAI and it’s founder Sam Altman stating that they have pivoted from their original purpose as a non for profit whose sole purpose was to design and develop Artificial Intelligence for the good of humanity.
The law suit filed states that Sam Altman and co-founder Greg Brockman approached Elon Musk and asked him to assist with developing the technology as a non for profit. However by 2015 the company abandoned their mission and has pivoted to a now for profit company. Musk went on further sharing that the three had originally begun developing technology as an artificial generative intelligence (AGI), where the machines would be able to handle tasks much in the same way that humans would do, but it was of the sole purpose to benefit humanity.
Musk believes that OpenAI has made Artificial Intelligence
seem like the acceptable new way for technology with the launch of GPT-4 which essentially is a Microsoft Product not OpenAI. Musk wants OpenAI to publicize their research and technology and be barred from using GPT-4 for financial gains via Microsoft or any other individual.
Dutch chipmaker and one of the leading European tech giant, ASML has threatened to move their production outside of the country. This comes after there have been changes to the migration laws surrounding the
Netherlands, where the Prime Minister has started cracking down on the amount of persons that can immigrate into the country. CEO of ASML Peter Wennink
shared in January that the company can only grow if there are enough persons within the country. As such the government party have been left confused as the semiconductor company is the largest within the Netherlands. ASML ranks highly amongst tech companies
across Europe and 40% of their 23,000 employees account for workers who aren’t even Dutch. ASML has a Market Cap of approximately 379 Billion Euros and a share
price closing March 7, 2024 of 949.20 Euros that grew 3.74% over its previous day. So losing this company would be a big blow for the economy. Wennink had shared during an investor call that the governments should be careful
about the labour laws they are trying to implement, as by trying to protect their people, they could be hurting everyone instead.
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By Money RoundupApple getting sued 1.8 Billion Euros by the EU, Elon Musk is currently challenging OpenAI saying they had breached an agreement in which he agreed to in 2015 when he helped start it and chip maker ASML is looking to move their business out of the Netherlands.
The European Commission has fined Apple 1.8 Billion Euros for violations in how they share and allow for users to use streaming sites on their IPhones and IPads. The investigations revealed that restrictions were placed on the developers to prevent them from informing clients about
other cheaper payment options outside of the App Store.
They had failed to have their developers inform users of other, cheaper music streaming sites outside of the Apple ecosystem and as such this is considered illegal under EU antitrust laws. Due to the Monopoly behaviour exhibited, this has been considered unfair trading conditions.
The case has been ongoing since 2019 when Spotify had first informed the EU of a 30% purchasing fee in which Apple was charging them. To add to that, they were unable to tell consumers that there was a much cheaper payment option outside of the App Store. Apple shared that Spotify was able to grow their company into the largest digital music site in the world. Apple responded sharing that they helped markets thrive through the use of the App Store and they don’t find the reasoning just and as such they will appeal. However a response from the Luxemburg court, which is the second highest in Europe will take years and until such time Apple will have to pay the fine and comply with the EU regulations.
Elon Musk has sued OpenAI and it’s founder Sam Altman stating that they have pivoted from their original purpose as a non for profit whose sole purpose was to design and develop Artificial Intelligence for the good of humanity.
The law suit filed states that Sam Altman and co-founder Greg Brockman approached Elon Musk and asked him to assist with developing the technology as a non for profit. However by 2015 the company abandoned their mission and has pivoted to a now for profit company. Musk went on further sharing that the three had originally begun developing technology as an artificial generative intelligence (AGI), where the machines would be able to handle tasks much in the same way that humans would do, but it was of the sole purpose to benefit humanity.
Musk believes that OpenAI has made Artificial Intelligence
seem like the acceptable new way for technology with the launch of GPT-4 which essentially is a Microsoft Product not OpenAI. Musk wants OpenAI to publicize their research and technology and be barred from using GPT-4 for financial gains via Microsoft or any other individual.
Dutch chipmaker and one of the leading European tech giant, ASML has threatened to move their production outside of the country. This comes after there have been changes to the migration laws surrounding the
Netherlands, where the Prime Minister has started cracking down on the amount of persons that can immigrate into the country. CEO of ASML Peter Wennink
shared in January that the company can only grow if there are enough persons within the country. As such the government party have been left confused as the semiconductor company is the largest within the Netherlands. ASML ranks highly amongst tech companies
across Europe and 40% of their 23,000 employees account for workers who aren’t even Dutch. ASML has a Market Cap of approximately 379 Billion Euros and a share
price closing March 7, 2024 of 949.20 Euros that grew 3.74% over its previous day. So losing this company would be a big blow for the economy. Wennink had shared during an investor call that the governments should be careful
about the labour laws they are trying to implement, as by trying to protect their people, they could be hurting everyone instead.