4 ms·

I love how this makes them admit that an average payment processing fee is only 4% (Less in the US actually, not sure about SK)

• wmf 5y ago
  This has been part of Apple's argument all along. The 30% was never for payment processing but for the overall "ecosystem".
  • oblio 5y ago
    > The 30% was never for payment processing but for the overall "ecosystem". Yup, ecosystem: https://en.wikipedia.org/wiki/Braeburn_Capital https://en.wikipedia.org/wiki/Braeburn_Capital For those that don't understand what that is, Apple's products, especially the App Store, have insane profit margins. Apple's profits are so high that they don't know what to do with the money so they started their own investment fund. > In October 2012, CNET reported that Braeburn had US$117.2 billion under management, making it "the world's biggest hedge fund." That was in 2012. Since then they've almost tripled the amount of Apple money that they manage.
    • joshuaissac 5y ago
      Minor nitpick. Wikipedia, CNET and Zero Hedge are wrong about Braeburn Capital being the largest hedge fund. A hedge fund employs "alternative" investment strategies to traditional investment funds. If we loosen the definition to include Braeburn Capital, then it would also cover BlackRock, which has almost $10 trillion in AUM.
      • oblio 5y ago
        Well, I'd say that your comment probably provides the biggest bang for the buck, educationally, if you edit the Wikipedia page :-)
    • judge2020 5y ago
      > Apple's profits are so high that they don't know what to do with the money so they started their own investment fund. So we should expect companies to only profit to a point of net-zero? Or can you call out a percentage of revenue that is acceptable?
      • oblio 5y ago
        It's not about profits per se, it's about market distortion. Just as people who are too rich distort democracy.