Let's get to the markets, please.
It's Monday morning. You'll want to know where your money
is going.
Little red ink this morning,
down 100 points on the NASDAQ.
Jeff Seekers. Here. I want to talk about Apple,
how serious, how serious the damage could be to Apple
from the Department of Justice's antitrust suit.
Well, Stewart, Apple has had had some problems this year
already with the iPhone selling down,
slowing down with China's restrictions.
But here's this lawsuit. If you really look at the
layers of this lawsuit from the Department of Justice,
it's a ridiculous lawsuit. It's claiming that that Apple has
a monopoly now if on the iPhone,
and it's claiming other things as well.
But if you look at this Apple,
really Apple only has a
50% market share in the US for iPhones and
25% worldwide. That is not a monopoly.
So the Department of Justice,
obviously they declared war against technology.
This is just another against big tech.
This is just another another battle for them.
And if they're going to use those that this precedent
to go after other companies,
you have companies like Amazon,
Walmart, Coca-Cola that have upwards of 25 to 50%
of market share that they'll have to go over.
So it is going to be difficult for Apple to
beat them
to to beat them. I think they'll end up paying
a massive fine and this will go away.
But I do think it's a,
it's another thorn in the side of Apple.
They don't like success. Apple is a highest successful,
brilliant company which has built an enormous stake in iPhones,
50% of the market. That's all they've got that just
don't like success.
Reminds me of Microsoft in the late 1990s,
right? They don't like success and they don't want any.
They don't. The government does not not want competition.
They want to be the almighty.
And these big tech companies are becoming competitive because they
are very powerful and and and very influential.
Let me let me deal with Reddit
went public last week. Huge spike at the IPO.
Is it a bubble? It is certainly a bubble.
Reddit. Reddit as a company,
I mean, I understand why people go to Reddit,
but Reddit has not made money
since 2005 and almost 20 years they've lost over a
billion dollars.
I've studied the Reddit model and I can't see how
Reddit is going to actually make money at any point.
And they also have they,
they they what they did was what I'll give them
credit for is they're brilliant in timing.
They time this perfectly. And if you looked at what
they filed with the SEC,
what they filed is they put the word artificial intelligence
dozens of times in their filings.
So this is just another AI hype,
Stewart. And I think it is showing how frothy the
AI market is and and how far it has to
fall.
Good stuff. Jeff Secret on a Monday morning.
Thank you very much, Jeff.
Good to see you.