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I don't know why you think the market cap is relevant here. But Apple's net income in 2020 was about $60B. The total App Store revenue was about $64B, out of w
by jsnell 5y ago
I don't know why you think the market cap is relevant here. But Apple's net income in 2020 was about $60B. The total App Store revenue was about $64B, out of which Apple extracted $20B in rent.
Not all of that $20B was profit, but based on what we know about the economics of running such stores, it was about $15B of profit. That is 25% of all of Apple's profit in 2020.
Apple will do anything to protect that income stream. If the way to protect it is to cripple the web, well, you can't make an omelette without breaking a few eggs.