Walter Isaacson: The law says you can't use market dominance to then dominate an adjacent field

Walter Isaacson, Perella Weinberg advisory partner and ‘Elon Musk’ author, joins 'Squawk Box' to discuss the EU's investigation into Big Tech, the comparison to Standard Oil, impact on markets, and more.

[@RobertAllen943]

Why do hosts on CNBC always talk over their guests.

[@Jasedabass]

To get a pat on the head from advertisers

[@jnginc_]

Cause it's their platform. I don't agree with it but that's probably the reason.

[@jasonrabeiro2009]

Walter Isaacson is completely right about Apple being anti-consumer. Guarantee that both of the anchors have iPhones, Apple Watches, Airpods, and are so firmly rooted in Apple's ecosystem that they cannot imagine using a non-Apple product or service.

[@DaddyFatSzack]

Clown show at CNBC

[@grigolli9072]

Are you that much of a mouth breather? What one thing has to do with the other...

[@jasonrabeiro2009]

@@grigolli9072 Nice argument kid. You really proved a point there. Perhaps you should join these anchors.

[@AnonN-sr6uu]

Why is it bad that they have all those products? I’m really, really sorry to burst your bubble.. but: Apple makes the best phone, wireless headphones, tablet, laptops, desktops, smartwatch, mobile software, desktop software, and more. It really is just that simple. Why should genius and success be punished?

[@jasonrabeiro2009]

@@AnonN-sr6uu That mentality right there, that is why it's bad to own all of those products. This company controls your hivemind so fully that you literally believe that they are the "best" and are free to engage in whatever anti-consumer practice they wish. To be so ingrained into a single company's world that imagining there are superior or alternative options out there becomes unfeasible is precisely why the DoJ has a monopoly lawsuit against Apple. Just because the hostages developed Stockholm Syndrome does not mean that taking hostages suddenly stops being a crime.

[@matthewegan6840]

Actually impressive the number of interruptions CNBC can squeak into an 8 minute “conversation”

[@kevintorgrimson8529]

Walter Isaacson is a gem!

[@sebw9860]

W Isaacson understands, CNBC hosts, definitely don’t 😂

[@Rivs5117]

Outsiders actually understand the situation at hand meanwhile the CNBC workers are completely clueless on the situation lmao.

[@user-yy5is3uq8g]

CNBC, CNN, NBC etc employs morons who are not even fit to flip burgers at McDonald.

[@kirankolli82]

CNBC host has a high portfolio allocation in Apple

[@zbigniewkolpak4753]

Microsoft is bigger problem. They are real standard oil in Corp IT space. They control every aspect of it. Azure, Teams, Office, Edge, Windows, Claud AD and now AI. If you are any small or large company you have to go with them.

[@FlecherMontelle]

Most people are taught that "you only need a good job to become rich". These billionaires are operating on a whole other playbook that many don't even know exists~

[@JefferyRodriguez-zz9kg]

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[@FlecherMontelle]

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[@dagbye4541]

Apple has become stagnant. Consumers would be benefitting if the platform was opened up for more competition

[@ichrisone]

Why was it so politically inconvenient to have this conversation, laws and momentum 10 years ago?

[@pauldewar626]

The CNBC presenters are very aware that Apple engages in anti-competitive behaviour. They won’t say it for fear of backlash from Apple.

[@AANDYG2010]

I cannot believe the hosts are actually this thick 🤣clearly no competition being allowed in their field or else creative destruction would have ended their careers years ago

[@theeconomist1015]

Microsoft is doing the same thing but why aren't regulators investigating them? They illegally bundle/tie Teams into their OS despite it being an inferior product and copy any features Zoom/Slack does. Microsoft doesn't innovate they copy, take, and acquire innovation.

[@eggnogaddict6287]

Zoom is pretty awful. Teams is a vastly superior experience. Looks way more professional and Zoom is like using some off-brand freemium product geared more towards nonsense rather than the workplace. Kinda like an MSN Messenger product. It works for what it is, but for juvenile chatting and use cases.

[@ludda42]

My company uses both. Definitely prefer Teams

[@user-ow1bn6qv8q]

@@eggnogaddict6287 The main point here is that Microsoft bundles all of their competing software products in with Windows/Office and undercuts anyone trying to make software for enterprise.

[@TK-gd9td]

Nothing stops me from using FaceTime, or zoom or AIM or discord, etc. this is all fud.

[@user-ow1bn6qv8q]

@@TK-gd9td Lol wrong. The EU brought an antitrust case against Microsoft bundling practice in 2023. They’ve already started unbundling Teams from Office in the EU to comply with regulators. Something very similar can happen here in the US.

[@mikeshaunnessey9303]

Until you squash composition. I think we are way late in enforcing anti-trust.

[@SydneyPanda2016]

Google just increase the price for KZbin from 17 to 32 bucks in Australia. Monopoly from search to adjacent field. Where there is monopoly we need regulation.

[@doug6723]

Issacson has a point. But then how do you apply it? McDonald's has a market dominance in burgers too, can they no longer make chicken sandwiches? Amzn started with books but dominates sales of other products online. Are they going to go after them? I don't get how the gov. decides on who to go after. Seems a bit arbitrary.

[@westcoastavenger]

Same with Boeing on airplanes. Ticketmaster. Walmart. So many others. Wait until they come after NVDA one day.

[@sciencefliestothemoon2305]

But is this not about the EU probing into these companies? And in Europe McDonald's does not have a market dominance.

[@TimothyBates]

The key is does Amazon stop someone else from selling books online, in the way that apple now blocks access to tap and pay payments for over half of American consumers by monopolising access to their privacy API where it touches authentication

[@doug6723]

@@sciencefliestothemoon2305 It may not be the best example granted but are you really saying McDonald's doesn't have market dominance? Burger King their closest rival is facing bankruptcy with declining sales and mounting debt. McDonald's on the other hand beat on EPS the last four quarters, beat three out of the last three on Rev. Mc D PE ratio in 2022 was 31, it's currently 24. It's profit was over 24 billion an increase YOY of 10% Name another fast food chain that moves the needle anywhere close to what McDs does when they announce a product like the McRib.

[@Belaziraf]

Mc Donald's don't prevent his providers to sell to other. They don't force you to hand over you bank account details so you can only pay with an app they control. Whether you use your own sauce or not, you can still eat your food. Extra sauce doesn't cost 1/5 or a 1/4 of your burger price. Dominance in the terms of the law are acceptable, not necessarily good but not bad either. If you use your means and abilities to gain dominance. Then even monopoly is justified. If you abuse your dominance to control third parties and manufacturers to artificially rig the competition, you're plainly put a middle finger on the antitrust laws and are not very far from Organized Crime Syndicates in the pursuit of your goal. It's no longer fair nor trade.

[@mikeshaunnessey9303]

You would only have one steel company, one railroad company, one oil company, and one private bank ( no Fed).

[@vetlife85]

Dominance breeds dominance? Agree or disagree? Let's discuss!

[@DannyTan-dm5ou]

Can we just fire Joe already. First he says something stupid. Then he says he's not sure the Apple case is the same without explaining why. Then he talks over Walter as always. Stuttering Joe needs to go seriously.

[@grigolli9072]

It seems very simple to me, no company should be able to "Gate keep" a mass utility service, Mobile Phones, the Internet, search, etc. And practice renting "tax" fees just to access it, is also fine to have a "wall garden" of products and offer that as a benefit to your customers, but it has to stand on its own merits, not by downgrading the quality of other Apps, which to me Apple is infringing on both counts.

[@iljimae5126]

30% markup is standard practice. In fact, it’s not just to access it. You forget that there’s billions of dollars required to develop iOS and hardware. To keep the AppStore operating. That small developers and free apps don’t pay anything at all.

[@jnginc_]

I hope the government prevents super apps

[@NA-dx6ii]

the hosts seem like big tech spokespersons.... it is pretty apparent Apple is using its monopoly power advantageously.

[@shaunmc013]

How the hell is he working on this show and didn’t know that AT&T was broken up? lol 😂 I heard it all from this guy lol 😂

[@mikeshaunnessey9303]

C'mon. the markets prospective is maximize profits, and how much will it cost me to break the law?

[@MissMyMusicAddiction]

i would like an explanation as to why this is justified, when they have less than 50% of the market. there is nothing that prevents me, an app dev, from saying "no" to ios, and instead, just writing for android. if you go to a theme park property in orlando, when you are on the property, you don't get to choose who you purchase food or merch from, and outside vendors don't get to set up their food trucks in the parking lots or stands in the parks. that's different...how?

[@mouzurX]

Ios is more than 50% in usa.

[@iljimae5126]

So we should tackle any company that has over 50% market share?

[@MissMyMusicAddiction]

@@mouzurX you are correct, of course. it's about 60% in the usa. it's less than 50%, worldwide, which is not relevant to this discussion. is that a monopolistic position? even if we were discussing google (android usa roughly 40%) allegedly abusing monopoly power within the android ecosystem, isn't the theme park walled garden comparison more relevant, anyway? i don't understand how the complaint makes sense.

[@MH-pz8wf]

Listen to these two idiots vs W Isaacon

[@Rivs5117]

Both are DEFINITELY clueless to the situation lol. They're just talking to talk.

[@HelloWorld-hb7yt]

Google destroyed Yelp by integrated their own reviews on their search engines and maps... that's a monoply guilt.

[@user-wc5gi2lz3n]

How on earth does Kernan keep his job?

[@starship519]

They Re all monopolies that need breaking up

[@westcoastavenger]

30% smartphone market share worldwide and not leading in any other product or service (Apple) is a monopoly? Google I get. 92% search. I don’t even get meta’s inclusion. Snap, TikTok, Google’s KZbin, etc are all leaders in the social space

[@JasonLaveKnotts]

They buy everything that shows potential to compete.

[@user-xr6zm8cx6r]

Last year meta came down to 87 how cone in one year 510??

[@mpatton997]

I left Apple by choice in 2015 because I didn’t like living in the “walled garden.” I returned in 2022 from Android because the “walled garden” was safer and better for my families current needs and desires. The choice is and has always been there. With choice is it tyranny?

[@lauriesica]

The male tv host doesn't know what he's talking about. Consumers benefit through lower prices when there's more competition. Sounds like the host is more for big corporations over consumers.

[@stevechance150]

Ok CNBC hosts, do you like having one power cord standard (USB-C) for ALL your devices, or do you like having Apple change their charging ports every five years? Cause if you didn't have the EU making Apple go to USB-C, then Apple would still be screwing ALL OF US.

[@rickhayes-oh2zm]

comsumers can buy apple if they want. or they cannot buy apple if they want.

[@frankfilippelli]

This whole law is nonsense, the way it’s structured. The whole point of business is not to aid your competitors that defeats the purpose of competition. I suppose no you shouldn’t actively attack your competitors, but being better than them in most ways is not on its face, stunting their growth. If they don’t like it, they always have the freedom to create their own answer to your product or service in this case make your own smart phone, make your own marketplace. And if it’s better trust me, we’ll all use it. Nobody is stopping them. They’re only going after Apple because it’s the biggest company they can get their hands on and it sends a message.

[@melodynyc1209]

Don't like it - use a different phone! Simple.

[@michaelboguski4743]

Comcast buying NBC.... Instead of getting a Mortgage from a Bank, I bought the Bank on Fire Sale.

[@far1762]

Alceva, după, tablou, la, vedere, e alceva, sygur, dar, ce. 😮

[@cozyslor]

Meh. I don't get it. I am a Samsung/Android user. Always have been. Never wanted to be part of Apple's "ecosystem". But I find this to be a big waste of government time and money. Bigger fish to fry.

[@TB1M1]

Yep, and that is why I will never buy apple. I know they are good, but they are monopolistic, no phone is worth any price they can get away with charging the public.

[@westcoastavenger]

How are digital payments “clunky”? I use my Apple wallet daily through my Watch and it works every time.

[@anb4351]

You are apple sheep

[@hedgeowlinvest7902]

Sound like a bad law 😅

[@eryu8263]

Ok call me uninformed but what does he need to buy through Apple at 60-70yrs old that requires privacy? Or is he just talking about his payment info?

[@Rivs5117]

I'm guessing payment info. The "Apple Privacy" has always been massively overrated. Apple doesn't care about privacy as much as people make them out to.

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[@StarryRockz]

This old guy in the white shirt is the worst cnbc host

[@dandindejesus4907]

Spotify wouldn’t be in existence were it not for iOS…

[@DeanCodeVirtus]

no it satrted before iOS

[@aeromotive2]

i dont support the anti biz quarter of this admin.. Lina, Gina etc.. very anti biz

[@grigolli9072]

Joe Kerner is such a cliche right wing cartoon figure, will just say Government is bad no matter what out of idealistic position like a little Robot, without even knowing the subject or really thinking it through "Oh, they broke up AT&T, IBM?"

[@danthome902]

Your boy Biden is a broken robot, or so it appears.

[@wusup9988]

Agreed. He wants the government's hands off everything until something breaks, then he'll blame the government for not doing enough to prevent it or fix it.

[@tonyzaffirini7368]

I guess he forgot that imposing restrictions on AT&T allowed a bunch of mobile technologies to develop including the I-phone. Otherwise AT&T would have done what Apple is doing now.

[@wusup9988]

Hey Joe how about you just ask the questions and let the expert talk? Nobody wants to hear your opinions.

[@AndrewDeFaria]

"You would not have Google now". Ah, yes you would. Mr. Isaacson states it as if it's a fact. It' snot a fact. It's merely his speculation.

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