Historic Verdict: Google Guilty of Illegal Monopoly

In a groundbreaking ruling on Monday, a US judge determined that Google violated antitrust laws by spending billions of dollars to establish an illegal monopoly and become the worldwide standard search engine. This ruling marks the first major victory for federal authorities in the battle against the market dominance of large technology companies. Google controls approximately 90% of the online search market and 95% of smartphone search queries. The verdict states that in 2021, Google spent over $26 billion to ensure its search engine was the default setting on smartphones and browsers, thereby securing its market-dominant position. The parent company Alphabet announced its intention to appeal the ruling. The legal wrangling could extend into next year or even until 2026. The decision paves the way for a second trial, which could set possible remedies, such as a breakup of Alphabet. Such a step would fundamentally alter the landscape of the online advertising industry, which Google has dominated for years. Simultaneously, the ruling gives aggressive US antitrust regulators the green light to prosecute Big Tech, a sector that has faced bipartisan criticism. Alphabet's shares fell by 4.5% on Monday amid a broader decline in technology stocks, as the broader stock market plunged on fears of a recession.