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Mark Zuckerberg Criticizes Apple’s Burdening New App Store Regulations

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During Apple’s analyst call, Meta CEO Mark Zuckerberg weighed in on the tech giant’s response to the EU Digital Markets Act (DMA), echoing the concerns of other major app developers. 

The DMA requires Apple to permit access to alternative app stores and payment platforms, but according to Zuckerberg, Apple’s implementation of this requirement makes it highly unlikely for developers to opt for these alternatives.

Zuckerberg emphasized the burdensome character of Apple’s stipulations, suggesting that they undermine the intended objectives of the EU regulation by deviating from its original purpose.

He criticized Apple’s strategy, saying, “I don’t think that the Apple thing is going to make any difference for us because I think that the way that they’ve implemented it, I would be very surprised if any developer chose to go into the alternative App Stores that they have.”

Meanwhile, Meta, formerly known as Facebook, celebrated impressive financial results during its Q4 earnings call. 

Zuckerberg’s Ordeal in US Senate Inquiry

mark-zuckerberg-criticizes-apple's-burdening-new-app-store-regulations
During Apple’s analyst call, Meta CEO Mark Zuckerberg weighed in on the tech giant’s response to the EU Digital Markets Act (DMA), echoing the concerns of other major app developers.

The company reported a remarkable 200% increase in profits year-on-year, prompting Meta to issue its first-ever dividend and announce a substantial $50 billion increase in its share buyback program. These positive financial outcomes propelled Meta’s share price by 16%, pushing its market cap over the $1 trillion mark for the first time.

Analysts interpreted Meta’s financial success as a testament to its commitment to shareholder value and a significant shift in perception within the metaverse and AI sectors. 

Nigel Green, an analyst at deVere Group, highlighted the impact of Meta’s confidence in its metaverse and AI ventures on investor sentiment, transforming skepticism into optimism.

However, Zuckerberg’s triumphs were overshadowed by a recent US Senate hearing on Big Tech’s role in facilitating child abuse. Zuckerberg faced public humiliation and criticism during the hearing, with senators engaging in grandstanding instead of addressing substantial issues. 

Despite Meta’s financial achievements, the hearing highlighted the ongoing challenges faced by tech leaders in navigating complex regulatory and societal concerns.

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