Freeberg

And it is very clear that Apple is facing very deep and severe financial impact from the regulatory authorities that are overseeing the business. So if you look at the Google antitrust, we're going to get into the Google deal in a second. Yeah. There's a real regulatory risk there because Google's paying Apple $20 billion a year to be the default search engine.

And it is very clear that Apple is facing very deep and severe financial impact from the regulatory authorities that are overseeing the business. So if you look at the Google antitrust, we're going to get into the Google deal in a second. Yeah. There's a real regulatory risk there because Google's paying Apple $20 billion a year to be the default search engine.

Apple also has a very deep relationship with China. They have a lot of manufacturing being done in China, and they sell a lot of product into China. So as regulators start to take a harder look, as they've said they're going to, at companies' relationships with China, that's a real risk to Apple. advertising, tracking users, and then the subscription fees that are charged to consumers.

Apple also has a very deep relationship with China. They have a lot of manufacturing being done in China, and they sell a lot of product into China. So as regulators start to take a harder look, as they've said they're going to, at companies' relationships with China, that's a real risk to Apple. advertising, tracking users, and then the subscription fees that are charged to consumers.

And most importantly, we've talked a lot about the 30% VIG that Apple takes on their app store and how regulators are now stepping in and take a look at this. So because this business is not yet a regulated monopoly, it may be a monopoly in many senses of the word, it's not regulated yet. And that transition could be financially painful for Apple.

And most importantly, we've talked a lot about the 30% VIG that Apple takes on their app store and how regulators are now stepping in and take a look at this. So because this business is not yet a regulated monopoly, it may be a monopoly in many senses of the word, it's not regulated yet. And that transition could be financially painful for Apple.

Once they get to the other side, it starts to look a lot more like a large scale Berkshire type business. So that's my kind of summary take on what's going on with Apple. I don't know if you guys agree.

Once they get to the other side, it starts to look a lot more like a large scale Berkshire type business. So that's my kind of summary take on what's going on with Apple. I don't know if you guys agree.

Once you're regulated, you know what the prices are, you know what you can do, you know where you can go, and all that risk is off the table. That's what is a feature of all of those other monopolies he owns, is that the government has a role in it, so it's a highly predictable business.

Once you're regulated, you know what the prices are, you know what you can do, you know where you can go, and all that risk is off the table. That's what is a feature of all of those other monopolies he owns, is that the government has a role in it, so it's a highly predictable business.

Well, I mean, what's crazy is that Apple is still up to 214. which is 11%, 12% higher than it was at the start of this year at 185. The stock is just coming off of its all-time highs at 230 a share. So it's just barely off the all-time highs.

Well, I mean, what's crazy is that Apple is still up to 214. which is 11%, 12% higher than it was at the start of this year at 185. The stock is just coming off of its all-time highs at 230 a share. So it's just barely off the all-time highs.

Yeah, the Guardians often rank right. So there's another two.

Yeah, the Guardians often rank right. So there's another two.

There's very little kind of editorialization going on with respect to showing the rankings of the new sources. The ranking of the new sources is typically set by some ranking algorithm. The algorithm is usually around click-throughs, views, popularity of the sites, how many visitors there are. So there are other metrics that drive the order. So for example, if NBC, CNN,

There's very little kind of editorialization going on with respect to showing the rankings of the new sources. The ranking of the new sources is typically set by some ranking algorithm. The algorithm is usually around click-throughs, views, popularity of the sites, how many visitors there are. So there are other metrics that drive the order. So for example, if NBC, CNN,

Fox News all have kind of higher rankings than some smaller publication, they're going to end up higher in the ranking out there and because they have a higher quality score. There's also measures on how often people click through and come back the bounce back rate. So if they click through an article and then come back, that can actually

Fox News all have kind of higher rankings than some smaller publication, they're going to end up higher in the ranking out there and because they have a higher quality score. There's also measures on how often people click through and come back the bounce back rate. So if they click through an article and then come back, that can actually

reduce the ranking versus if they click through and stay on the site. So there's a lot of factors that go into the ranking algorithm. The thing that probably upsets people is that there isn't any transparency into this. So there's no understanding on how these things are ranked, how they're set. And it's probably very good guidance and feedback that there should be more transparency and openness.

reduce the ranking versus if they click through and stay on the site. So there's a lot of factors that go into the ranking algorithm. The thing that probably upsets people is that there isn't any transparency into this. So there's no understanding on how these things are ranked, how they're set. And it's probably very good guidance and feedback that there should be more transparency and openness.