U.S. Government Accuses Google of Gatekeeping In Historic Lawsuit, While Zoom Fights to Keep Up Their Momentum
October 22, 2020 at 07:01 AM EDT
Financial TikTok creator Zaid Admani is back breaking down this week’s top business news with another episode of No Bull with Zaid. In this episode, Zaid explains why the U.S. Justice Department is claiming Google is a monopoly and what’s been going on with Zoom since their big boom at the beginning of COVID-19.Is Google A Gatekeeper?
The U.S. Justice Department claims Google is operating as a monopoly over the search and search advertising market. This is the biggest antitrust lawsuit since a case was filed against Microsoft in the late 90s.
Right now, Google owns 90% of the search market share, which allows them to charge a lot of money to advertisers. Beyond that, it’s come to light that Google pays Apple up to $12 billion a year to be the default search engine on all Apple devices. This is a huge case that could completely alter how consumers use the internet and cause a trend in the U.S. clamping down on even more big tech companies.Zooming Into the Future
While other companies struggle to stay afloat in the midst of COVID-19, the video conferencing company Zoom continues to soar (with their stock up over 700% this year). Zoom came onto the scene back in March when the entire world was on lockdown. It offered a place to connect with friends, work from home, hold concerts, teach students and more.
But as months continue to pass, and there is no clear end for COVID-19 in sight, people are starting to get “zoom fatigue.” Now, Zoom is looking to the future in the hopes to re-energize consumers and investors alike. In an effort to expand their product offering, the company has created OnZoom, a platform to host paid online events. This step can help Zoom start diversifying their income and keep up with competitors like Cisco, Microsoft and Google.Check out the full video: About No Bull with Zaid
Bullish is excited to launch our new Youtube series with social media storyteller and TikTok star Zaid Admani. No Bull with Zaid explains market trends, changes in technology and what moves major companies are making next – but without all the BS. Zaid tells it how it is, explaining exactly what you need to know and why.