The European Union isn’t the USA. They don’t play when it comes to stopping monopolies. They don’t even cut Google any slack. The European Union fines Google for billions.
So the EU fined Google 2.4 billion Euros. So that’s $2.7 billion dollars. They fined Google because they accused them of using their world dominance to get people to shop from their online store. Thus, this takes away from smaller online businesses. They have 90 days to pay, or face even more fines. This follows a 7-year-old investigation. This fine is the biggest fine the EU ever issued to any company.
The EU’s biggest beef is against Google Shopping. But due to this ruling, Google must change how it ranks websites. But Google may not be done yet. There is talk of an appeal. This may delay the fines and judgement for even more years. Keep in mind the investigation is already 7 years old. And this isn’t the only fine Google faces from the EU. The EU is also going after Google AdSense and Android. The EU reminds Google they can fine them up to 10% of it’s revenue per year. That adds to over 9 billion dollars a year. I don’t think Google is going to let that happen.
I can’t imagine other IT service industries, or other tech industries, are happy about that. Think of what mega conglomerates like Amazon and Walmart and Apple are doing. They’re taking over grocery stores and other aspects of life. This would never fly with the European Union. I don’t know what to say about European Union fines Google for billions. Part of me wants to believe they’re making it fair for all. If that’s the case, that is wonderful. We could use some of that here in America. But the cynic in me wonders are they doing this to block US companies from prospering in Europe. Mabye the EU is no better because they’re trying to throw their weight around. Who do you think is in the right?