Elon Musk: Without This Company, "Civilization Will Crumble"

Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip? Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution." Even ChatGPT founder Sam Altman says AI depends on this company's work...

At Google antitrust trial, documents say one thing. The tech giant's witnesses say different

MATTHEW BARAKAT
September 19, 2024

ALEXANDRIA, Va. (AP) -- The judge who will decide whether Google holds a monopoly over technology that matches buyers and sellers of online advertising must choose whether to believe what Google executives wrote or what they have said on the witness stand.

The Justice Department is wrapping up its antitrust case against Google this week at a federal courtroom in Virginia. The federal government and a coalition of states contend Google has built and maintained a monopoly on the technology used to buy and sell the ads that appear to consumers when they browse the web.

Google counters that the government is improperly focused on a very narrow slice of advertising -- essentially the rectangular banner ads that appear on the top and along the right side of a publisher's web page -- and that within the broader online advertising market, Google is beset on all sides from competition that includes social media companies and streaming TV services.

Many of the government's key witnesses have been Google managers and executives, who have often sought to disavow what they have written in emails, chats and company presentations.

This was especially true Thursday during the testimony of Jonathan Bellack, a product manager at Google who wrote an email that government lawyers believe is particularly damning.

In 2016, Bellack wrote an email wondering, "Is there a deeper issue with us owning the platform, the exchange, and a huge network? The analogy would be if Goldman or Citibank owned the NYSE," the New York Stock Exchange.

For the Justice Department, Bellack's description is almost a perfect summary of its case. It alleges that Google's tech dominates both the market that online publishers use to sell available ad space on their web pages, and the tech used by huge networks of advertisers to buy ad space. Google even dominates the "ad exchanges" that serve as a middleman to match buyer and seller, the lawsuit alleges.

As a result of Google's dominance in all parts of the transaction, Justice alleges the Mountain View, California-based tech giant has shut out competitors and been able to charge exorbitant fees that amount to 36 cents on the dollar for every ad impression that runs through its stack of ad tech.

On the stand Thursday, though, Bellack dismissed his email as "late night, jet-lagged ramblings." He said he didn't think Google's control of the buy side, the sell side and the middleman was an issue, but was speculating why certain customers were looking for workarounds to Google's technology.

Most of the other current and former Google employees who have testified as government witnesses have similarly rejected their own written words.

Earlier this week, another Google executive, Nirmal Jayaram, spent large parts of his testimony disavowing viewpoints expressed in emails he wrote or articles and presentations he co-authored.

The Justice Department contends, of course, that what the Google employees wrote in real time is a more accurate reflection of reality. And it says there would be even more damning documentary evidence if Google had not systematically deleted many of the internal chats that employees used to discuss business, even after the company was put on notice that it was under investigation.

Testimony has shown that Google implemented a "Communicate with Care" policy in which employees were instructed to add company lawyers to sensitive emails so they could be marked as "privileged" and exempt from disclosure to government regulators.

U.S. District Judge Leonie Brinkema called Google's policies on retention of documents "absolutely inappropriate and improper" and something she has taken notice of during the trial, though she has not imposed any kind of specific punishment.

The Virginia trial began Sept. 9, just a month after a judge in the District of Columbia declared Google's core business, its ubiquitous search engine, an illegal monopoly. That trial is still ongoing to determine what remedies, if any, the judge can impose.

The ad tech at question in the Virginia trial does not generate the same kind of revenue for Goggle as its search engine does, but is still believed to generate tens of billions of dollars of revenue annually.

The Virginia trial has been moving at a much quicker pace than the D.C. case. The government has presented witnesses for nine days straight and has nearly concluded its case. The judge has told Google it should expect to begin presenting its own witnesses Friday.

Continue Reading...

Popular

Hackers demand $6 million for files stolen from Seattle airport operator in cyberattack

WASHINGTON (AP) — Hackers are demanding $6 million in bitcoin from the operator of the Seattle-Tacoma International Airport for documents they stole during a cyberattack last month and posted on the dark web this week, an airport official said Wednesday.

America Can't Afford a Harris Presidency - Ad

New research from Jim Rickards - former advisor to the CIA - reveals shocking predictions about an "Election Meltdown" coming this November. Jim's showing all American patriots why an "Election Meltdown" could crash stocks by 50%, lead to the final demise of the dollar, even cause violent riots in the streets.

Will the Federal Reserve cut interest rates fast enough to deliver a 'soft landing'?

WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it's from a two-decade peak.

U.S. Loses to China in Shocking WAR GAMES - Ad

Pentagon says new "living missile" key to winning a future conflict. Investors stand to reap 35,960% on shares of the small defense contractor that makes powerful new weapon.

Flames from massive pipeline fire near Houston subside but continue burning

DEER PARK, Texas (AP) — A flame that towered over a southeast Houston suburb had subsided Tuesday, but continued to burn following after a vehicle drove through a fence and struck an above-ground valve, officials said.

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Starting September 23rd, this tiny 3-cent crypto could partner with one of the biggest companies in the world... Amazon. Declassified video reveals "Amazon Coin" ahead of $27 trillion crypto revolution. One team of crypto experts have identified it as the most promising crypto of 2024.

Biden administration to host international AI safety meeting in San Francisco after election

Government scientists and artificial intelligence experts from at least nine countries and the European Union will meet in San Francisco after the U.S. elections to coordinate on safely developing AI technology and averting its dangers.

Starmer and Meloni holding talks on curbing migrant boats reaching UK and Italy

ROME (AP) — U.K. Prime Minister is meeting Italian in Rome on Monday, as the two very different politicians, from left and right, seek common cause to curb .

Discover the $2 Stock That Has Institutional Attention - Ad

With a $1.3B market cap and forecasts to grow 2X faster than the sector, dozens of investment banks are betting big. Strong leadership, cash on hand, and a $3 target make it a must-see.

Pagers that exploded in Lebanon and Syria were made by a company in Budapest, Gold Apollo says

TAIPEI, Taiwan (AP) — Taiwanese company Gold Apollo said Wednesday that it authorized its brand on the but that another company based in Budapest manufactured them.

Teamsters union declines to endorse Trump or Harris for president

WASHINGTON (AP) — The declined Wednesday to endorse or Donald Trump for president, saying neither candidate had sufficient support from the 1.3 million-member union.

Red-Hot AI Stock "Disappearing" Soon? (Get In Now) - Ad

Right now, there's an AI stock on the verge of being snapped up by a giant company... And when it does, its price could go flying. The potential gains could be astronomical. You want to get in before that happens... Otherwise the opportunity could pass you by. Your window to buy in is right now...

Israel has a long history of pulling off complex attacks like the exploding pagers

JERUSALEM (AP) — Hezbollah and the Lebanese government were quick to blame Israel for the nearly used by the militant group's members in an attack Tuesday that killed at least nine people and wounded nearly 3,000 others, according to officials.

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

Atlantic City's top casino underpaid its online gambling taxes by $1.1M, regulators say

ATLANTIC CITY, N.J. (AP) — New Jersey gambling regulators say Atlantic City's top-performing casino, the Borgata, underpaid some of its internet gambling taxes twice by taking almost $15 million more in credits than it was entitled to.

Revealing Index Soars 49% - Smart Investors Are Moving In - Ad

The Gold Miners' Index is up 49% in recent months, surpassing even Gold's performance. Yet, ONE stand-out miner has even doubled Gold's historic rally over the last 6 months with room to run as analysts expect it to double from here! Don't miss the young company that has already captured the interest of 40+ investment banks.

OnlyFans Beats Apple, Google, Netflix, And Other Big Tech Companies In Revenue Per Employee: Here's The Down Low

Content-sharing platform OnlyFans has come out on top against big tech companies like Apple Inc., Alphabet Inc.'s Google, Netflix Inc., and others in terms of revenue generation per employee.

Why We Just Sold Half of Our Stocks - Ad

We've already sold all or part of 52 different stocks this year - more than any other period in our firms' history. That's because there are five cracks forming below this market that threaten us with a widespread collapse. We could see the market tumble by 50% and unemployment will triple.

US widens indictment of Russians in 'WhisperGate' conspiracy to destroy Ukrainian and NATO systems

BALTIMORE (AP) — The U.S. Justice Department has widened its indictment of Russians in the so-called ‘WhisperGate’ malware attack aimed at destroying computer systems in Ukraine and 26 NATO allies including the United States.

Turkey's Spy Chief Meets With Hamas To Discuss Cease-Fire In Gaza: Reports

Turkey's intelligence chief met with Hamas in Ankara to discuss Gaza ceasefire negotiations, as Turkey denounces Israel's assault and conducts intensive diplomacy.

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

Text of the policy statement the Federal Reserve released Wednesday

WASHINGTON (AP) — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:

Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada

RENO, Nev. (AP) — A probate court in Nevada is set to begin reviewing evidence behind closed doors in a case that could determine who will control Rupert Murdoch’s media empire after his death.

Elon Musk's SpaceX Launches 90th Mission In 2024, With Over A Third Of Launch Target Still To Go

Elon Musk's rocket manufacturing company SpaceX has launched its 90th launch mission for the year, the company said on Tuesday.

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Top 3 Tech And Telecom Stocks That May Rocket Higher This Quarter

The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies.

Oil Surge Predicted...But Are You Ready? - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Argentina's President Milei presents 2025 budget, vowing austerity and setting up a showdown

BUENOS AIRES, Argentina (AP) — Libertarian of Argentina presented the 2025 budget to Congress late Sunday, outlining policy priorities that reflected his key pledge to kill the country's chronic fiscal deficit and signaled a new phase of confrontation with lawmakers.

TransDigm, BJ's Wholesale, AbbVie And More On CNBC's 'Final Trades'

TransDigm Group (TDG), BJ's Wholesale (BJ), VanEck Semiconductor ETF (SMH), and AbbVie (ABBV) were recommended as top trades on CNBC's Halftime Report.

President Trump and Elon Musk Issue Stark Warning - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Consumer Tech News (Sep 8-Sep 14): Gaming Industry Biggies Facing Accusations For Decieving Players, Apple Launches iPhone 16 & More

The tech sector is facing weakness despite AI hype. Gaming companies face accusations of overspending, while Netflix's mobile gaming catalog hits 210M downloads. Microsoft's Xbox Game Pass overhaul impacts anticipated titles. DirecTV accuses Disney of bad faith negotiations.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright finstrategist.com
Privacy Policy | Terms of Service