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Apple Doesn't Have to Change App Store Rules Yet, Rules Supreme Court in Ongoing Epic Dispute
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So…ok. As I feared right from the start. Basically Apple is way too big to fail, though it seems Epic is getting desperate. They surely don’t want to lose US market, but increasingly feel like they will.
So much about the “alternative app store”.
So much about the “alternative app store”.
Every day they are in not App store, they make zero from iPhones, regardless of Apple's percentage.
It’s not good or bad, it’s what the policy they had in place and ANY developer was free to say “screw you Apple” and release their wares on other platforms. Many did, and were successful doing so.
And, as consumers, it would take being under a very PARTICULAR kind of rock for an extended time to know fully about an app, probably from an internet search, but NOT know that you can purchase a subscription outside of it, also information that can come from an internet search
Battle continues. Will take a long time to reach the final outcome
Valuations are just a futures bet, they don't actually represent the companies revenues and profits, also they are very often spun by the company itself🤣 Epic is doomed. Doomed!
2021 = $28.7 billion valuation
2022 = $31.5 billion valuation
2023 = $32 billion valuation
Epic Games Raised $2 Billion. Its Valuation Rivals Publicly Traded Games Giants.
The company, best known for creating the Fortnite game and the Unreal Engine development tool, hit a private valuation of $31.5 billion.www.barrons.com
Epic Games Raised $2 Billion. Its Valuation Rivals Publicly Traded Games Giants.
April 11, 2022
Epic Games said it raised $2 billion in a funding round that including Sony Group and LEGO Group owner Kirkbi as investors. The company, best known for creating the Fortnite game and the Unreal Engine development tool, hit a private valuation of $31.5 billion.
Sony and Kirkbi each invested $1 billion, Epic said. CEO and founder Tim Sweeney still has a controlling stake in the firm, the company said.
Epic announced a $1 billion round that valued the firm at $28.7 billion in April 2021. The higher valuation is a good sign for Epic, given how public markets soured on videogame companies in the past year.
The $31.5 billion figure compares to EA’s recent market capitalization of $34.5 billion and Take-Two Interactive Software ’s recent capitalization of $16.2 billion.
It must be cheaper to go with a firm than to have in-house attorneys? Or is the case so specialized that an in-house wouldn’t have the weaponry that a targeted firm would have?
It is mostly the weaponry / fire-power, but is almost certain the outside firms are more expensive than the salaries of in-house counsel.
I am sure Apple has a lot of very good attorneys on the staff, but this is highly specialized work and the in house staff practices a more generalized form of corporate law. It is kind of like going to see your GP when you have a pretty good idea the problem will require the expertise of a neurologist. You start with the GP, tell him your head hurts and she says you need to see a neurologist.
In a past life, I worked for a fairly well known investment bank and we had a sizable staff of in house attorneys, but we always went to outside for big issues and litigation.
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Seems like only the corporate lawyers ever get rich in these trials. No changes. Maybe a verdict or appeal here or there, but the date to actually enforce something is so far off the amount of damages has already been covered by profits many times over.
The biggest problem is the only developers to benefit with be multi million or billion dollar companies like Epic. They want to steer customers that Apple spends millions marketing the use their platform to buy direct from them cutting Apple out. It will cause irreparable damage to consumers because Apple is a for profit business and when the profit is removed they can’t justify their continued investment into the platform. That means it will die on the vine and eventually be discontinued.
Let’s hear from the developers who agree that a “careful balance” means a mandate to either upcharge their customers by 30% or have 30% of their revenue taken away. Yeah they never had a say in this did they…
I couldn’t care less about Epic Games but I hope they win. Someone had to challenge Apple and no small developer could thanks to our broken legal system. The ramifications of this go beyond a single company or even the iOS platform as a whole.
They had a say the moment RIGHT before they clicked to sign up and pay to be a developer on the App Store. And, many have gone on to make hundreds of thousands of dollars targeting affluent users that have proven to be more apt to spending money on digital goods than users on competing platforms. That’s the customer base Apple’s built and the customer base those developers happily pay a percentage of their profits to have access to.
And, really, who wouldn’t accept a $700,000 payday on $1,000,000 in revenue? OR heck, $35,000 on $50,000 in revenue? Perhaps those that lack basic business sense?