Apple Fined For $2B By EU

Elon sued by ex Twitter execs, Apple fined by EU, and more...

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Snack Prompt
March 05, 2024

Today’s Menu 🥠

  • Musk Sued By Former Twitter Execs

  • Apple’s $2B Fine Gets The Green Light

  • 5 Trending AI-Powered Tools

  • Food Court On The Death Star

Read Time: 2.5 minutes

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Unpaid Severance
Fired Twitter Execs Suing Musk For $128M

After Elon Musk's acquisition of Twitter significant layoffs occurred, and now, they’ve come back demanding $128M in severance payments. 

These former executives include former CEO Parag Agrawal, former CFO Ned Segal, former chief legal officer Vijaya Gadde, and former general counsel Sean Edgett.

The lawsuit accentuates X's reluctance to fulfill its financial obligations, citing Musk's alleged attempt to avoid a $200 million payout before their stock options were due to vest.

Elon Musk's strategy, as depicted in Walter Isaacson's biography "Elon Musk," indicates a calculated decision to finalize the acquisition and execute the firings to potentially save on severance costs, particularly highlighted in Musk's conversation with his lawyer, Alex Spiro, about preventing Agrawal's resignation to avoid paying his severance.

Amidst accusations from Musk's X regarding the former executives' negligence and misconduct, the lawsuit contends these actions were approved by the company's board and were part of necessary measures, including a $90 million payment to lawyers instrumental in closing Musk's $44 billion purchase of Twitter.

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Snack Quiz: Choose The Real Image 🔍

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Spotify Complaint
Apple Hit With First-Ever EU Fine

Apple has been fined €1.84 billion (around $2 billion) by EU antitrust regulators for its App Store practices, particularly for preventing music streaming services from advertising cheaper subscription deals outside of the App Store.

This decision aligns with the impending changes due to the EU's Digital Markets Act, aiming to open up the iPhone's app distribution more broadly.

The European Commission's investigation concluded that Apple's restrictions on developers, limiting their ability to inform iOS users about alternative, cheaper subscription services, violated EU antitrust rules.

In response, Spotify lauded the decision, criticizing Apple for stifling competition and limiting communication with users about subscription options and promotions.

Conversely, Apple dismissed the Commission's findings, denying any consumer harm or anti-competitive behavior and announced plans to appeal the decision.

This fine comes after Spotify's 2020 antitrust complaint regarding the so-called "Apple Tax" and App Store rules that restrict customer communication and promotion.

More Tools For The Toolbox
5 Trending AI-Powered Tools

BlogToPod: Turn your blogposts into AI.

Klipme: Use AI to analyze your long videos and clip the best moments.

Style: Tools that make it easy to build and manage websites, SEO, and ad campaigns.

Ai-Upgrade: A course that teaches you how to integrate AI into your business, craft profitable prompts, and more.

Magic: An optimization tool that upgrades your AI workflow with integrations with Bard, Claude, Midjourney, & more.

Lunch Break
Food Court In The Death Star

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