The EU's DMA is coming for Apple, and X bots are on the loose

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 24 June 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Equity is back with your Monday Morning news rundown! This morning, a press release from the European Commission named Apple as the first of tech’s so-called “gatekeepers” to be charged for violating the EU’s Digital Markets Act. Apple is one of six tech giants named by the European Commission as “gatekeepers” last year, alongside Alphabet, Amazon, ByteDance, Meta and Microsoft. While we continue to keep our eyes on the EU’s attempts to ensure a competitive marketplace, that’s not all we got into on the Equity podcast this morning. Rebecca Bellan led the show this morning and reported that X still has a Verified bot problem, but this time they came for TechCrunch writers (herself included). The experience had us wondering if X’s competitors will step up, and create platforms with more safety…and fewer bots. Rebecca also had an IPO update for our listeners this morning as Shein finally filed for its public debut in London, and we closed out our startup coverage with a look at Sir Jack A Lot’s startup for retail traders. The startup, which recently raised a $4.5 million seed round, had us hyped on the retail trading space and its continued growth. Finally, Haje closed out today’s show with a teardown for Feel Therapeutics. The startup recently raised a $3.5M seed deck to revolutionize mental health care with a science-forward approach that integrates wearable devices, mobile apps, and clinician dashboards. Hit play to hear how they did it!

Transcript

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0:00.0	Hello and welcome back to Equity, Tech Crunch's flagship podcast about the business of
0:14.6	startups. Today is June 24th, 2024 and I'm Rebecca Belon a senior reporter at
0:19.6	Tech Crunch. This is our Monday show where we take a look at the weekend and get you ready for the week ahead.
0:24.0	On today's show we have Apple's Breach of the EU Digital Markets Act, an IPO update,
0:30.0	X's verified bought problem, Sir Jackalot's startup for retail traders,
0:35.0	and to close out today, Hia has a pitch deck tear down for feel therapeutics.
0:39.0	Let's get started.
0:40.0	Let's
0:43.0	let's dive into the big news that matters.
0:44.7	For our first story of the day,
0:46.0	Apple has been named the first of tech's so-called gatekeepers
0:49.0	to be charged for violating the EU's Digital Markets Act rules.
0:52.0	The European Commission defines gatekeepers as violating the EU's Digital Markets Act rules.
0:52.8	The European Commission defines gatekeepers as large digital platforms that provide core services
0:57.4	for consumers and businesses, things like App Store, search engines, and web browsers.
1:01.9	In a press release this morning, the Commission announced that it informed
1:04.8	Apple of its preliminary view that its App Store rules are in breach of the DMA because
1:08.7	they prevent app developers from freely steering consumers to alternative channels for offers and content.
1:14.9	The Commission is alleging that Apple's App Store rules don't let developers give customers
1:18.6	pricing information in the app or communicate with them about offers available outside the App Store.
1:23.4	The charges come after an investigation that was open in March into Apple's App Store rules.
1:27.7	According to the Wall Street Journal, regulators said they were also opening probes related
	...

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