😂 , Google, a company with more lawyers, lobbyists, communications people and money than anyone made a clerical error and leaked out sensitive information about its alleged collusion and bid rigging. /1 wsj.com/articles/googl…
This is consistent with the antitrust charges in the complaint and now appears to be confirmed by Google in its *supposed to be* redacted filing. Hard to understand how it’s not trading on inside information. There is a nice illustration why it’s problematic in the complaint. /2
WSJ also reports that Google confirmed the existence of the deal with Facebook. Signed by Sandberg and including how the two companies would act if investigated. This matching of audiences appears to be new and seems like privacy circumvention to me. /3
last comment, this amuses me. I wonder if this is the UK ISBA study. It was super good but it also found over 10% of revenue couldn’t even be traced. It also showed Google participating, and of course maximizing profit, on the buying, selling and transacting. Insider trading. /4
Actually, one bitter comment. “Project Bernanke,” “Jedi Blue,” et al, these are all cute project code names but behind these hundreds of millions is enough $$$ to fund all of the journalists that lost their jobs in 2020.
So everyone should be infuriated. /5
This is the Google case if you need more background. Start with the WSJ report first and then dive into this thread. There are now 15 state Attorneys General signed on to it. And importantly it includes a section one charge that ties to Facebook, too.
Here is the part of the last filing of the state AGs complaint with the allegations about Google's secret "Project Bernanke." You can see where it's redacted and send a Thank You card to Google's law firm (ht @matthewstoller) for exposing all of this.
Statement from me on the Wall Street Journal report earlier this evening. ⬆️
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Here is how NYT reported it in the complaint. Google and Facebook suggested it was misrepresented. Their proxies have misled public into thinking it was dismissed from lawsuit despite Google's CEO being deposed about it only months ago. /3 nytimes.com/2021/01/17/tec…
woah. ~300 redacted summary judgment google exhibits posted in TX. I've uploaded all. most eye-popping - we finally get Google-Facebook contract (aka Jedi Blue) alleged as bid rigging (yes, press was misled, it's still part of the claims). /1
If you need a definition for Match Rate, Google and Facebook include it with example of using the "encrypted blob" on mobile, feels very much like a fingerprint y'all. Here is the full contract, don't sleep on section dealing with monopoly enforcement. /2 storage.courtlistener.com/recap/gov.usco…
There are a ton of new exhibits from discovery with similar themes of Google secretly using projects to manipulate its black box auctions. "The first rule of Bernanke is we don't talk about Bernanke." /3
Justice takes time. What he knew when. AOC will remember this, “Their lawsuit says Zuckerberg—facing the risk of personal liability over the data privacy scandal—got himself out of trouble by agreeing to pay a larger-than-necessary $5 billion fine with shareholder money.” 1/3
Here is the full report from Bloomberg on Zuckerberg’s deposition which apparently was cut short and late on docs on Dec 3rd. Board members Thiel, Andreessen, others all being deposed these weeks. Press allowed Facebook to rewrite history on this. 2/3 news.bloomberglaw.com/business-and-p…
Here is a good thread that will get you into the details. Sheryl Sandberg also deposed although her assumed prior SEC deposition was sealed. We did finally get Zuckerberg’s which showed his nerves and that the scandal was on his mind much earlier. Thanks to @zamaan_qureshi 3/3
Overnight: FTC plans to call CEO Zuckerberg and (former) CTO Schroepfer in first 2 wks of trial (late April) in DC seeking to break up the company for abuse of monopoly laws. Also on their short list are some very big roles and names. Very likely driving behaviors at the top. /1
As I know their roles...
Chris Cox - chief product officer who took a break when scandals accelerated, and avoided testimony in UK.
Javier Olivan - now COO, key lieutenant
Sheryl Sandberg - former COO, on everything
Alex Schultz - key growth hacker, now CMO /2
Adam Mosseri - key lieutenant, now runs Insta
Dave Wehner - former CFO, deal approval including $19B with no real revenue WhatsApp
Fidji Simo - (former) always in mix, product leadership
Guy Rosen - Onavo alleged packet sniffing of WhatsApp, Snap /3
Woah. Google filed redacted versions of its Summary Judgment exhibits in Texas adtech antitrust case ahead of the March 31 trial. Although this case mirrors DOJ's case awaiting decision, it has even more eye-popping evidence. And an expert suggesting $29B in penalties. /1
"Project Bernanke" is an oldie but goodie that gets a lot of discussion. ICYMI, Google would allegedly increase the first highest and the second highest bid in its 2nd-price auctions then reinvest the "saved" funds back into other bids to Google wins more auctions. /2
The problem is while it may have ended up providing more revenue to the publisher (from/through Google) and no doubt to Google, Inc, it allegedly ignored the revenue which could have come through another channel if Google didn't manipulate the rev share as it ran the auctions. /3
US v Google II Closing arguments today.
70min for DOJ-> 95min for Google-> 20min for DOJ. Having predicted this case as better odds than search case (Google already lost in August), nothing changed my mind today. I wrote down: influence/$, complexity, deception, and arrogance. /1
I'm staying high level on perception first as findings of fact already covered much. On influence/$, DOJ pointed out early on and then again in rebuttal that every single witness presented by Google (except one) was paid or had grants from Google. /2
On complexity, Google again executed on its spaghetti defense with lead counsel, Karen Dunn, bookending trial by running over as she did in her opening. She appeared to skip dozens of slides, many minutes of close. And she loaded her slides while talking twice as fast as DOJ! /3