Amid Musk’s Salvo, Spotify Stock Rose as Its CEO Continued to Criticize Apple

Spotify Stock

Spotify Stock (NYSE:SPOT)

In a series of tweets published on Wednesday, the CEO of Spotify (NYSE:SPOT), Daniel Ek, repeated his criticism of Apple (NASDAQ:AAPL), stating that the company “gives itself every benefit while at the same time limiting innovation and harming users.” Despite that, Spotify stock surged in the market.

In his sequence of 21 tweets, Ek mentioned several influential businesspeople who shared his views, including Musk, the president of Microsoft (NASDAQ:MSFT), Brad Smith, and Andy Yen, the founder of Proton.

Elon Musk, the wealthiest person in the world, took to Twitter on Monday to condemn the price that Apple charges software developers, including his Twitter firm, for in-app purchases. He also tweeted a joke that implied he would be prepared to “go to war” rather than pay the cost.

In the past, Spotify filed antitrust charges against Apple in several countries, claiming that the 30% fee has pushed the company to “artificially inflate” its own rates.

On Wednesday, a request for comment was sent to Apple, but the company did not immediately answer. It has been said in the past that the thirty percent commission it receives from sales made via its App Store is utilized for safeguarding customers from issues such as identity theft and invasion of privacy.

On Wednesday, Tim Sweeney, the CEO of Epic Games, tweeted that battling Apple’s “monopoly” was “an American problem that transcends party politics.” Sweeney is the creator of the popular video game “Fortnite.”

“How much longer will we continue to ignore the danger that this situation poses to the future of the internet? How many more customers will be prevented from making their own choices? There has been a great deal of discussion. Discussion is great, but what we really need is action. “It was written by Ek.

On Wednesday afternoon, a video call meeting between Musk and European Commissioner Thierry Breton was scheduled to take place; however, the agenda for the meeting was not disclosed. They had met in Texas in May before Musk purchased Twitter for $44 billion when they indicated broad agreement on EU tech regulatory policy. The meeting took place before Musk acquired Twitter.

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