Google ad business like ‘if Goldman owned the NYSE,’ employee said

6 months ago 115

Google utilized its monopoly powerfulness to rig the online advertizing marketplace and squash competition, including by colluding with Facebook — and 1 worker compared the crippled to a mega-bank similar Goldman Sachs owning the New York Stock Exchange, according to a recently unredacted tribunal filing. 

The hunt elephantine controls apical brokerages connected some the buy-side and sell-side successful the online advertizing marketplace and takes a 22 percent to 42 percent chopped of US advertisement spending that passes done its systems, according to a new mentation of a lawsuit the a radical of states led by Texas filed against the company

That’s 2 to 4 times the chopped taken by different integer advertisement exchanges instrumentality and serves arsenic grounds of the company’s monopoly position, according to the suit.

One Google worker said the company’s presumption was akin to “if Goldman oregon Citibank owned the NYSE,” according to the suit.

Google did not instantly reply to a petition for comment. The institution had fought to support galore details of the suit redacted, arguing that releasing the accusation would unfairly wounded its business. 

The unredacted mentation of the suit, which was filed US pursuing an bid from territory justice for the Southern District of New York P. Kevin Castel, besides contains much details astir an alleged crippled betwixt Google and Facebook to sphere Google’s ascendant presumption successful the online advertisement space.

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