Why lawmakers are so concerned with Apple’s and Google’s “rents”

Maybe this textbook is from the Ma Bell era? #ThanksStockGettyImages

Enlarge / Possibly this textbook is from the Ma Bell period? #ThanksStockGettyImages (credit score: designer491 / Getty Pictures)

Josh Hawley had some questions on how Apple got here up with the cash to purchase again $58 billion in inventory over the previous 12 months.

“I simply need to concentrate on one main supply of that revenue,” the Republican senator stated to Apple’s lawyer. “It’s not innovation, it’s not analysis and growth. It’s the monopoly rents that you just acquire out of your app retailer.”

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