Margrethe Vestager, the EU’s competition commissioner has fined Google 2.4 billion Euros ($2.7 billion), a record antitrust penalty in Europe and the USA, for abusing it’s monopoly.
One business owner complained. NPR’s Planet Money podcast, Google Is Big. Is That Bad? discussed this issue.
In 2002 Google launched price-comparing shopping, called Froogle, later renamed Google Shopping. It was found to systemically favor Google’s own results.
Supposedly, Google has a 90% market share in Europe. Of course, that’s because the EU doesn’t count other sites as search engines for shopping, such as Amazon, eBay, etc.
Competition is just a click away. Compare the convenience of shopping on the Internet with that of driving around comparing prices.
One EU commissioner said, “We need these super-platforms to adhere to a principle of neutrality.” But competition isn’t neutral; there’s no such thing as “perfect competition,” which is the outdated model antitrust regulators use.
Economist Thomas Hazlitt’s new book, Political Spectrum, argues that net neutrality would have meant no iPhone.
EU has fined many USA tech companies: Intel, Microsoft (3 times), and Facebook. This is a form of blackmail, from unaccountable bureaucrats who are economically illiterate.
George Gilder is currently working on a new book, Life After Google (available in June 2018). Here’s a talk he gave at the Blockstack Summit 2017, where he argues that Google’s business model is not sustainable.
Charlie Gard, RIP, July 28, 2017, 11 months old
Parents: Connie Yates and Chris Gard wanted to try experimental treatment in USA for their infant son’s rare genetic condition, encephalomyopathic mitochondrial DNA depletion syndrome (MDDS). There are 16 known cases worldwide
The British government refused the parents to take their son to USA. Staff at the Great Ormond Street Hospital received death threats, which shows there’s at least some resistance in the UK who understand liberty.
The Parents raised £1.4 million from crowdfunding.
On April 11, the British High Court judge ruled that Charlie’s doctors to turn off life-support. Parents appealed to the Court of Appeals, the Supreme Court, the European Court of Human Rights, and lost at all three.
Two Congressman introduced legislation to expedite Charlie’s trip to USA.
On July 24th, Dr. Michio Hirano, at Columbia University, who was to carry out the experimental treatment. When he saw the scans of Charlie’s brain, he was no longer willing to provide the treatment.
In the UK, adults can consent to experimental treatment, but courts can overrule in cases of children. In the USA, courts are reluctant to go against the parent’s wishes.
This can mean doctors performing treatments they believe go against the best interests of the patient.
In Texas, the futile care law says that if doctors feel the treatment would be of no benefit the parents can appeal before an ethics committee. If the committee agrees, the parents can seek another doctor within a specified time limit.
Fortunately, only 10% of cases involve severely ill babies—hardest of all.
Charles Krauthammer wrote a column and offered this: Two truths must guide any decision cases such as these:
The parents must be sovereign
The parents are sometimes wrong
He believes the parents were wrong in this case. However, he would have allowed the parents take the child to USA. Since there are no definitive answers, so must we fall back on sentimentally, on love.
What’s the best for the child: The best guide is a loving parent, their motive is most pure.
Is death is in the child’s best interest? Dr. House: “Yeah, I’m trying to save her life, I’m morally bankrupt.”
National Review editors wrote: “Horrifying precedent: In the UK and, by extrapolation, throughout Europe, every child belongs, finally, to the state.”
John C, CPA, TSOE Listener Question, 8/2/17
Gentlemen,
I really struggle when I get the response that my price is too expensive. I don’t get it all that often, which tells me my pricing is okay I think, but I wanted to see what your best responses would be to that response/question.
Thanks guys and keep up the good work!
John E. C, CPA, CGMA – Principal
Ron’s Answers
We’re not the cheapest CPA firm in town, during the value conversation
Reiterate value (value conversation is critical, excellent questioning)
Reiterate your value guarantee, fixed price, change request policy, no surprises, unlimited access
Often times, price isn’t wrong—the customer is
Also, often they don’t understand the value, not so much questioning the price
Ed's Answers
"Sounds about right."
As the President of Snap-on Tools once said, "I would rather explain my high price once, then apologize for skimping on quality later.
Other Resources
Ron’s recent post on LinkedIn: “Why Timesheets Focus Firm Leaders on the Wrong Things.”
