According to Wired, the EU's declaration could have a major impact on Google's market going forward given how the company has expanded to more than just a search engine:
If the EU's decision is upheld, then Google will have a much harder time expanding and promoting its brand due to frivolous lawsuits from its competitors.
There will be some who will argue that this is a good thing that promotes competition. But in actuality, it's the free market that takes down monopolies, not government intervention. As Milton Friedman explained in the video below, monopolies that are sustained over a long period of time are due to government intervention. He cited trade unions and protectionist policies as examples. Monopolies in a truly free market are temporary:
The EU Fines Google $2.7 Billion. Here's Why They're Wrong.
The company has been retooling its search results to be more than just a list of websites. As Google expands into new areas, such as voice-controlled virtual assistants, it seeks to provide people with what they're looking for directly, whether that's an answer to a question, the address of a restaurant, or a list of nearby movie showings. Today's order chips away at that idea by opening the door to more lawsuits.
If the EU's decision is upheld, then Google will have a much harder time expanding and promoting its brand due to frivolous lawsuits from its competitors.
There will be some who will argue that this is a good thing that promotes competition. But in actuality, it's the free market that takes down monopolies, not government intervention. As Milton Friedman explained in the video below, monopolies that are sustained over a long period of time are due to government intervention. He cited trade unions and protectionist policies as examples. Monopolies in a truly free market are temporary:
The EU Fines Google $2.7 Billion. Here's Why They're Wrong.