Body:
Microsoft and Google, two of the world’s leading tech leaders, are confronting renewed antitrust activities, as per reports. This regulatory scrutiny reflects the growing global concerns about tech giants’ domination and their potentially unfair and monopolistic practices. These investigations are poised to significantly impact the tech industry.
Delivery Hero, the German-based online food delivery platform, has raised an inquiry into whether Microsoft is exploiting its dominance on the German market. The main issue is Microsoft’s contractual terms with partners and customers and their significant impact on the market. The question raised is whether Microsoft’s contracts with its clients might be infringing on the terms of fair competition. This could be seen as a tangible sign of Europe’s broader efforts to regulate Big Tech to ensure fair competition.
Simultaneously, Google has faced a similar challenge to its supremacy. However, this time the probe is not based in Europe but rather in India. India’s antitrust watchdog, the Competition Commission of India (CCI), has ordered an investigation into Google’s activities. The claim is Google has demonstrated anti-competitive behaviors in promoting its Google Pay app. An argument put forward is that Google might take advantage of its Android system, which currently dominates over 95% of the Indian mobile operating system market.
If the allegations stood firm, this would not be Google’s first experience with antitrust scrutiny in India. The tech giant has had antitrust brushups in the past with the CCI. In fact, Google has been fined previously for search bias, which refers to prioritizing its own services in search results. As the Indian market holds substantial potential, these antitrust investigations could have significant implications for Google’s growth strategies.
In the cryptocurrency sector, Ether, Ethereum’s native cryptocurrency, attracted notable attention recently. It has surged in value by over 25% in just 24 hours. At the time of the report, Ether’s price was hovering around $3,466, which is up from $2,766 from the previous day.
This sudden surge in Ethereum’s value came as no surprise to market enthusiasts who have been whispering bullish predictions for some time. They argue that this unexpected price surge might be fueled by a recent news update from the European Investment Bank (EIB) stating its plan to launch a digital bond sale on the Ethereum blockchain network.
Elsewhere in the tech world, Roku, the American digital media player manufacturer, is receiving a taste of stardom. The company reported excellent Q1 results, having beaten Wall Street’s estimates. It also celebrated a momentous milestone of over 53 million active users. The company attributes this success to the increase in subscriber numbers due to the pandemic, which has accelerated consumer demand for digital content services.
In sum, it is evident that the torchlight of increased antitrust action is being shone on tech giants. As these events continue to roll out, the tech and cryptocurrency market landscapes may undergo a significant shift. Various players in these markets will ultimately have to adjust their strategies in response.
