Facebook chief executive Mark Zuckerberg has responded to comments by his counterpart at Apple, Tim Cook, who recently stated that “when online service is free, you’re not the customer”.
In an interview with Time, Zuckerberg responded by saying he was increasingly frustrated that “a lot of people increasingly seem to equate an advertising business model with somehow being out of alignment with your customers”.
Get daily business news.
The latest stories, funding information, and expert advice. Free to sign up.
“I think it’s the most ridiculous concept. What, you think because you’re paying Apple that you’re somehow in alignment with them? If you were in alignment with them, then they’d make their products a lot cheaper!” Zuckerberg said.
Uber driver faces rape allegations
Police in the Indian state of Uttar Pradesh have arrested an Uber cab driver accused of raping a customer, with authorities saying they will take action against the US ridesharing startup for failing to run background checks on the man.
Reuters reports a 26-year-old woman has accused the driver of sexually assaulting and beating her after using the service during a trip home from a work function.
“Every violation by Uber will be evaluated and we will go for legal recourse,” Delhi police deputy commissioner Madhur Verma said.
Amazon to continue iterating the Fire Phone
Amazon chief executive Jeff Bezos has said the online retail giant will continue making new smartphones, despite the company making $US170 million in writedowns on its Fire Phone, Recode reports.
“I have made billions of dollars of failures at Amazon.com … literally. You might remember Pets.com or Kozmo,” Bezos said.
“None of those things are fun. They also don’t matter. Companies that don’t continue to experiment, companies that don’t embrace failure, eventually get [desperate and] make a Hail Mary bet at the end of their corporate existence.”
The Dow Jones Industrial Average is up 58.69 points to 17958.8. The Aussie dollar is down to US83 cents.