[cyral]

I love how this makes them admit that an average payment processing fee is only 4% (Less in the US actually, not sure about SK)

[wmf]

This has been part of Apple's argument all along. The 30% was never for payment processing but for the overall "ecosystem".

[oblio]

> The 30% was never for payment processing but for the overall "ecosystem".

Yup, ecosystem: https://en.wikipedia.org/wiki/Braeburn_Capital

For those that don't understand what that is, Apple's products, especially the App Store, have insane profit margins. Apple's profits are so high that they don't know what to do with the money so they started their own investment fund.

> In October 2012, CNET reported that Braeburn had US$117.2 billion under management, making it "the world's biggest hedge fund."

That was in 2012. Since then they've almost tripled the amount of Apple money that they manage.

[joshuaissac]

Minor nitpick. Wikipedia, CNET and Zero Hedge are wrong about Braeburn Capital being the largest hedge fund. A hedge fund employs "alternative" investment strategies to traditional investment funds. If we loosen the definition to include Braeburn Capital, then it would also cover BlackRock, which has almost $10 trillion in AUM.

[oblio]

Well, I'd say that your comment probably provides the biggest bang for the buck, educationally, if you edit the Wikipedia page :-)

[judge2020]

> Apple's profits are so high that they don't know what to do with the money so they started their own investment fund.

So we should expect companies to only profit to a point of net-zero? Or can you call out a percentage of revenue that is acceptable?

[oblio]

It's not about profits per se, it's about market distortion.

Just as people who are too rich distort democracy.