January 30, 2023



Battle of Billionaires: Musk, Zuckerberg Attempt to Break Free from Tim Cook dinner’s Shadow

3 min read

Apple Inc CEO Tim Cook dinner had an estimated wealth of $1.5 billion as of January this 12 months. That made him the 2,083rd richest particular person on this planet, far behind the fortunes of Mark Zuckerberg ($142 billion) and the world’s richest man, Elon Musk, with $189 billion to his title. 

However no matter his comparatively modest net worth, Apple’s CEO is ready to snuff out primary swathes of Musk’s and Zuckerberg’s empires – and the two moguls know it. 

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Perhaps you observed Musk’s tweet over the weekend that claimed, with out providing proof, that Apple was considering eradicating Twitter from its App Retailer – a switch which may primarily reduce off Twitter from the App Retailer’s billion clients.

Musk moreover denounced Apple’s observe of taking a 30% reduce on App Retailer product sales and accused the company of cracking down on free speech. 

And on Tuesday, Meta Platforms Inc  CEO Mark Zuckerberg chimed in with grievances of his private. In a New York Occasions Interview, Zuckerberg talked about it was problematic for anyone agency to handle what app experiences end up on a instrument whereas complaining that the “overwhelming majority of income within the cell ecosystem go towards Apple.”

Fortunately for Musk, a private meeting with Cook dinner shortly after seems to have cleared any confusion, with Musk tweeting his reassurances that Apple has no plans to remove Twitter from its App retailer.

However the App Retailer isn’t Apple’s solely weapon in opposition to completely different tech titans. Tweaks to its phrases of service or privateness insurance coverage insurance policies can have devastating outcomes on completely different companies’ enterprise fashions – as seen in January when a change to Apple’s iOS privateness insurance coverage insurance policies resulted in a $10 billion hit to Meta’s annual revenue, based mostly on Fb mom or father Meta. 

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Can Meta, Tesla Inc and quite a lot of completely different tech companies break free from Apple’s chokehold? Musk is already being known as on to develop his private mobile machine – nevertheless throughout the short-term, it looks as if Apple’s dominance may be laborious to shake off, on account of mannequin loyalty that makes a presence throughout the App Retailer essential for fellow juggernauts, even whereas Apple felt the need to spend solely $100 million selling on Twitter remaining 12 months. 

However Apple’s 1.5 billion devices aren’t the one battleground that tech wars may be fought in – and already one agency is circumventing Apple’s hegemony in a singular means. 

Gameflip is a number one gaming market startup that’s already purchased $140 million in digital recreation devices on its platform. Utilized by six million people worldwide to this point, it facilitates simple, safe transactions for all points digital – and whereas it’s accessible on the App Retailer, it’s moreover accessible on completely different retailers and, as quickly as put in, will be utilized to swap out among the many world’s hottest video video games between clients, with none downloads from a third-party vendor. 

Gameflip is a startup with over $10 million in backing from enterprise capitalists – nonetheless it’s additionally obtainable to common traders.

 See additional on startup investing from Benzinga

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