The EU wants to fine Google for its advertising prowess
In business, there’s never enough room for everyone. Google makes the mass majority of its income through ads. According to Reuters, it makes up about 80% of the company’s annual revenue, and it tipped the scale at over 100 billion dollars last year. It’s the biggest player in this field, and that means that other companies like Meta and Microsoft can barely compete. This is why the EU is targeting the company. The commission launched an investigation into the company starting in June last year. It looked into Google’s ad tech business in order to see if the company has an unfair advantage over the competition. Google moved to settle this dispute out of court, but it has yet to happen. According to sources familiar with the subject, concessions were very preliminary and minor. If the company wants to settle the case, it will need to provide more concessions. At the moment, it remains to be seen whether this fine will actually happen. Both parties are still communicating over this case. We expect to see more developments as time goes on. Also, if Google is to be fined, it may happen early next year. Neither party has given any official statement on the matter.
This was pretty unavoidable
It’s nearly impossible to escape Google’s influence if you use technology nowadays. It’s a ubiquitous company with its hands and several tech industries. It’s no longer the little search engine from 1998. It’s basically a trillion-dollar company with its toe and mobile communication, artificial intelligence, cloud storage, photography, quantum computing, gaming, and many more. Since it’s such a major player in this market, it was inevitable that government agencies would target it. Each company’s goal is to make more money, and as a result, they can shut out other companies from entering their industry. This is why companies like Microsoft tend to rack up antitrust lawsuits. It’s such a big company that other companies either need to do what they can with a smaller market share or find a new industry.
