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Absolutely agree, but it's not that much different than expecting a tax on every Venmo/PayPal/Robinhood transaction on the store (if I'm reading this correctly,
by maxsilver 5y ago
Absolutely agree, but it's not that much different than expecting a tax on every Venmo/PayPal/Robinhood transaction on the store (if I'm reading this correctly, this is a thing Cook just implied they might do in sworn testimony today)
- duped 5y agoAt the end of the day it's all about power, price and value. A small transaction fee to handle payment processing is reasonable, since everyone creates value for everyone somewhere. A tax for existence on a platform is just rent seeking and increases prices for everyone but Apple. That's not desirable and likely illegal. The worst case scenario is Spotify-cation of services where Apple used the App Store to identify popular services, counters with their own, and then charges extortionate fees such that they cannot compete with Apple's native services. I would be concerned if we start seeing an Apple Brokerage. Apple Pay doesn't have a direct competitor in Venmo since Venmo is about payment processing between people who don't normally deal with credit card processing, and cross platform functionality is the biggest value prop. Apple Pay isnt a threat unless it works on all platforms equally.