What Does the EU Google Penalty Mean for Us?
So, Google got a penalty from the European Union (EU).
Do you know what it’s about?
What does the Google penalty mean?
The EU said that Google is abusing its power to push down search results of competitive products, of other price comparison engines like Idealo and PriceGrabber.
Some of these companies are not around anymore.
They shut down, they went bankrupt years ago.
The EU talks about stuff that has been going on since 2008 or up to 2008.
So very much in the past.
And finally they came to a decision, which is great.
But, the question is, will Google continue with this practice?
The penalty is nothing to Google
Just because they have to spend €2.5 billion, which is a lot of money for you and me but not a lot of money for Google.
I think it’s 2% of the money they have in the bank right now.
They have over $100 billion in the bank and they just made another $37 billion in profit in the last quarter.
So you think Google is scared?
With that money, rather than paying it to the EU, they can spend a lot of money on lawyers.
They can have an army of hundreds of lawyers just fighting that.
You think the EU will spend the same money fighting back?
I think it is totally possible that Google will just delay this decision and just continue business as usual.
What do you think?
Let me know.
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