Month: September 2024

Google concluded its defense in the Department of Justice’s lawsuit over its advertising technology, making its case for why the DOJ’s claims miss the mark.

Even though Nobel Prize-winning economist Paul Milgrom provided supportive testimonies, it’s still easy to see that Google’s testimony could have gaps.

Here are my favorite ones: 

1. “Duty to deal” argument

• Google’s stance: Google argues that it should not be required to share its ad tech tools or platforms with competitors, as there is no legal obligation for a company to do so under U.S. antitrust laws.
• Potential gap: The DOJ might argue that while there is no explicit “duty to deal” under current law, Google’s dominance in the digital ad space as a whole effectively forces advertisers and publishers to rely on its tools. This could open the door to claims that Google’s practices limit competition by creating barriers for smaller players, even if there is no formal requirement to share resources.

2. Narrow market definition

• Google’s stance: Google claims the DOJ’s market definition is too narrow, focusing on “open web display advertising” rather than a broader range of ad formats and markets.
• Potential gap: While Google highlights competition from other digital ad platforms (like Amazon, Facebook and Microsoft), the DOJ could argue that Google holds overwhelming power in the specific subset of open web display ads. If the DOJ can successfully define the market more narrowly and demonstrate Google’s dominance, it could strengthen its antitrust argument. Whether Judge Brinkemma will allow this change in definition would be critical to this potential advantage.

3. Defunct practices

• Google’s stance: Google asserts that many of the challenged practices – except for Uniform Pricing Rules (UPR) – are no longer in use, weakening the DOJ’s claims.
• Potential gap: The DOJ may counter that even if these practices are defunct, they could have had long-lasting effects on market structure and competition. Practices like Dynamic revenue, reserve prize optimisation and more would have a long-term effect. These past practices might have entrenched Google’s dominance and limited competitors’ abilities to grow, resulting in reduced competition today.

4. Self-serving justifications for integration

• Google’s stance: Google argues that its integrated tools benefit both advertisers and publishers by providing a safer, cheaper and more effective platform.
• Potential gap: The DOJ may argue that this integration, while convenient, could also be seen as self-serving and exclusionary. The integration of Google’s ad tech stack may prevent third-party companies from offering competitive services and lock users into Google’s ecosystem, making it harder for other companies to compete.

5. Control over the ad ecosystem

• Google’s stance: Google insists that publishers and advertisers have control over how ads are bought and sold, with multiple options to mix and match ad tech tools.
• Potential gap: The DOJ could argue that despite this theoretical control, Google’s overwhelming market presence effectively limits meaningful alternatives. Publishers and advertisers may be forced to use Google’s tools to stay competitive, creating a de facto monopoly in certain aspects of the ad tech market.

6. Competitive landscape

• Google’s stance: Google cites competition from other tech giants like Facebook, Amazon and Microsoft as evidence that the ad tech space is fiercely competitive.
• Potential gap: The DOJ may argue that the competition Google points to exists in adjacent markets, such as social media advertising or ecommerce ads. Within the specific market for open web display ads, Google may still hold a monopolistic position, and competition in other areas doesn’t fully mitigate its control over this segment.

7. Impact on consumers

• Google’s stance: Google frames its practices as consumer-friendly, emphasizing lower fees and improved ad performance.
• Potential gap: The DOJ could focus on the broader implications of reduced competition, such as the potential for higher prices for advertisers in the long term, fewer choices for publishers and an overall reduction in innovation. The DOJ may argue that even if short-term costs are lower, the market dominance could harm consumers and businesses in the future.

Google’s unknown fate

While Google is fixed on these defenses and seems fully convinced that it isn’t a monopoly, the DOJ may still successfully argue that Google’s practices – especially in narrow markets like open web display ads – have anti-competitive effects.

The case hinges on how well the DOJ can demonstrate that Google’s past and current actions create barriers to entry, limit competition and ultimately harm consumers or the market.

Original source: https://searchengineland.com/google-defense-doj-ad-tech-lawsuit-447068

Google concluded its defense in the Department of Justice’s lawsuit over its advertising technology, making its case for why the DOJ’s claims miss the mark.

Even though Nobel Prize-winning economist Paul Milgrom provided supportive testimonies, it’s still easy to see that Google’s testimony could have gaps.

Here are my favorite ones: 

1. “Duty to deal” argument

• Google’s stance: Google argues that it should not be required to share its ad tech tools or platforms with competitors, as there is no legal obligation for a company to do so under U.S. antitrust laws.
• Potential gap: The DOJ might argue that while there is no explicit “duty to deal” under current law, Google’s dominance in the digital ad space as a whole effectively forces advertisers and publishers to rely on its tools. This could open the door to claims that Google’s practices limit competition by creating barriers for smaller players, even if there is no formal requirement to share resources.

2. Narrow market definition

• Google’s stance: Google claims the DOJ’s market definition is too narrow, focusing on “open web display advertising” rather than a broader range of ad formats and markets.
• Potential gap: While Google highlights competition from other digital ad platforms (like Amazon, Facebook and Microsoft), the DOJ could argue that Google holds overwhelming power in the specific subset of open web display ads. If the DOJ can successfully define the market more narrowly and demonstrate Google’s dominance, it could strengthen its antitrust argument. Whether Judge Brinkemma will allow this change in definition would be critical to this potential advantage.

3. Defunct practices

• Google’s stance: Google asserts that many of the challenged practices – except for Uniform Pricing Rules (UPR) – are no longer in use, weakening the DOJ’s claims.
• Potential gap: The DOJ may counter that even if these practices are defunct, they could have had long-lasting effects on market structure and competition. Practices like Dynamic revenue, reserve prize optimisation and more would have a long-term effect. These past practices might have entrenched Google’s dominance and limited competitors’ abilities to grow, resulting in reduced competition today.

4. Self-serving justifications for integration

• Google’s stance: Google argues that its integrated tools benefit both advertisers and publishers by providing a safer, cheaper and more effective platform.
• Potential gap: The DOJ may argue that this integration, while convenient, could also be seen as self-serving and exclusionary. The integration of Google’s ad tech stack may prevent third-party companies from offering competitive services and lock users into Google’s ecosystem, making it harder for other companies to compete.

5. Control over the ad ecosystem

• Google’s stance: Google insists that publishers and advertisers have control over how ads are bought and sold, with multiple options to mix and match ad tech tools.
• Potential gap: The DOJ could argue that despite this theoretical control, Google’s overwhelming market presence effectively limits meaningful alternatives. Publishers and advertisers may be forced to use Google’s tools to stay competitive, creating a de facto monopoly in certain aspects of the ad tech market.

6. Competitive landscape

• Google’s stance: Google cites competition from other tech giants like Facebook, Amazon and Microsoft as evidence that the ad tech space is fiercely competitive.
• Potential gap: The DOJ may argue that the competition Google points to exists in adjacent markets, such as social media advertising or ecommerce ads. Within the specific market for open web display ads, Google may still hold a monopolistic position, and competition in other areas doesn’t fully mitigate its control over this segment.

7. Impact on consumers

• Google’s stance: Google frames its practices as consumer-friendly, emphasizing lower fees and improved ad performance.
• Potential gap: The DOJ could focus on the broader implications of reduced competition, such as the potential for higher prices for advertisers in the long term, fewer choices for publishers and an overall reduction in innovation. The DOJ may argue that even if short-term costs are lower, the market dominance could harm consumers and businesses in the future.

Google’s unknown fate

While Google is fixed on these defenses and seems fully convinced that it isn’t a monopoly, the DOJ may still successfully argue that Google’s practices – especially in narrow markets like open web display ads – have anti-competitive effects.

The case hinges on how well the DOJ can demonstrate that Google’s past and current actions create barriers to entry, limit competition and ultimately harm consumers or the market.

Original source: https://searchengineland.com/google-defense-doj-ad-tech-lawsuit-447068

Home Business Magazine Online

As of the second quarter of 2023, the median home price in the U.S. was $416,100, according to the Federal Reserve Bank of St. Louis. This is a significant amount of equity for many homeowners, but it’s often inaccessible due to current lending standards.

In the aftermath of the 2008 financial crisis, the U.S. housing market underwent a significant transformation. Stricter lending standards emerged, designed to prevent another subprime mortgage meltdown. But these well-intentioned reforms, along with more recent rising interest rates and inflation, have contributed to an unexpected consequence: a growing cohort of “boxed-in” homeowners who find themselves asset-rich but cash-poor, unable to access the equity in their homes through traditional means.

In 2016, Jarred Kessler founded EasyKnock to offer a solution: residential sale-leaseback with an option to buy back. This approach aims to provide flexibility and liquidity to homeowners who have been left behind by conventional financial products. Can this model truly address the needs of middle-class Americans struggling with inflation, stagnant wages, and mounting personal debt?

The Boxed-In Phenomenon

According to a recent white paper by researchers Marvin Chang and Jeremy Potter, over 9 million American homeowners could be classified as boxed-in. These individuals have substantial equity in their homes but are unable to access it due to factors like an unaffordable housing market, insufficient income, less-than-stellar credit scores, or other constraints.

The paper notes that there are roughly 2 million mortgage holders with credit scores below 600, 3.2 million homeowners with long-term mortgages at interest rates of 6% or above, and 2.6 million homeowners over the age of 45 without steady income.

Kessler explains the crux of the problem: “After the credit crisis, lenders really started looking more at the person’s profile. One of the big reasons people get declined is their debt-to-income ratio is not in the right place.” This ratio, a key factor in mortgage underwriting, has become increasingly problematic as interest rates have risen and inflation has squeezed household budgets.

Many Americans are taking on more credit card debt at higher rates, hurting their credit scores and restricting their ability to save income and improve their debt-to-income ratio. According to an August 2024 Federal Reserve Bank of New York report, total credit card balances are up 5.8% from a year ago, to $1.14 trillion, and rates of credit card delinquencies are increasing.

“If interest rates go up, debt goes up and that ratio gets out of whack,” says Kessler. “A large percentage of homeowners in the U.S. do not have access to the mortgage markets, and it’s one of the big reasons you don’t see a lot of movement. They’re boxed in. Lower FICO scores are another big reason. Those are really the two driving factors that are boxing in people and we have record amounts of home equity.”

EasyKnock Solution

EasyKnock’s programs offer a potential lifeline to these boxed-in homeowners. Here’s how it works:

The company purchases a home directly from the homeowner at 100% fair market value as determined by an independent appraiser. The homeowner receives 75% of the purchase price in cash at closing, and the remaining 25% is held as an option contract, giving the homeowner the right to buy back the property or to direct a sale on the open market where they can realize all potential future appreciation. The former owner then becomes a tenant of the house, signing a one-year lease with the option to renew for up to five years, depending on the program.

This arrangement provides immediate liquidity while allowing the homeowner to remain in their house. It’s a stark contrast to traditional options like home equity loans or cash-out refinancing, which often remain out of reach for those with credit issues or insufficient income.

“We give people appreciation, we give people the chance to buy back their home, we’re paying their taxes, homeowners insurance, [homeowners association] fees, we’re handling some of the repairs. We’re giving people an opportunity,” says Kessler.

EasyKnock has also made efforts to keep the rental arrangement fair and transparent. It caps annual rent increases at the greater of 2.5% or the consumer price index, which stands in contrast to some landlords who have implemented dramatic rent hikes in recent years.

Kessler also emphasizes the sell-leaseback model isn’t meant to be a permanent solution, but rather a bridge to help homeowners regain their financial footing.

“If we’re not seeing them again, it’s a good thing,” he says, noting that many customers use the program to pay off high-interest debt or weather temporary financial difficulties before repurchasing their homes.

The Broader Economic Context Going Forward

EasyKnock’s emergence comes at a time of significant economic uncertainty. With inflation pressures persisting, many middle-class homeowners find themselves in precarious financial positions. A lack of financial cushion makes accessing home equity all the more critical for many families.

“A few years ago, somewhere around 50% of the country couldn’t afford an unexpected bill of $1,000 or more, and I bet you it’s now $500,” Kessler says.

The company’s focus on the middle class is deliberate and, Kessler argues, necessary. “I think a lot of people are trying to serve the upper echelon and I think the people that need the most help are the middle class,” he says. “When you’re rich, there’s a lot of choices and when you’re in the middle class, there are not a lot of choices.”

Looking ahead, Kessler sees both opportunities and potential pitfalls in the housing market. He anticipates a potential increase in foreclosures and believes that, as interest rates eventually decline, it could drive up home prices in some areas while leading to repricing in others.

“I think you’re going to see more so than any other period, a discrepancy throughout the United States of some markets that are doing really well versus markets that are doing really bad,” he cautions.

As the 2024 U.S. presidential election approaches, housing affordability is emerging as a key issue. Kessler sees this as both an opportunity and a challenge. “Affordability is the sleeper issue of the campaign this year,” he believes.

However, he’s also wary of how the issue might be politicized. “The biggest problem is the middle class, and people struggling with income are too often used as pawns in these elections,” Kessler says. He argues for more concrete action: “If you really want to help these people, you should encourage incentives to help them.”

The post How EasyKnock Aims To Serve the “Boxed-In” Middle-Class Homeowner appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/business-spotlight/how-easyknock-aims-serve-boxed-middle-class-homeowners/

Getting distracted, managing work-life balance, or meeting tight deadlines are all struggles of the freelance career. Even the most experienced freelancers with years of practice, trial and error need a bit of help from time to time to manage their workload. The art of delegation for freelancers suits all stages of your self-employed career, too!

You’ve probably wondered if it’s worth the cost of delegating, what tasks you should outsource, and even how to delegate effectively. We’re going to show you that delegating as a freelancer is easy – and frees your time to focus on the money-earning side of things!

• Focus on Your Strengths
• Outsource to Reliable Freelancers
• Have More Time on Your Hands
• Get a Virtual Assistant
• Smarten Up Your Tax Returns
• How to Delegate Effectively
• More Freelancing Tips

Focus on Your Strengths

When you do tasks that you’re not very good at or dislike, the process takes up hours of your day. They can also stress you out and reduce your overall productivity. On the other hand, productivity peaks when you’re doing things you love.

The art of delegation for freelancers starts with knowing what you’re not great at doing. Be honest with yourself – and see if you can find someone to take over the task for you! Another benefit is that the overall quality of your work improves, as you have more time to focus on it.

Outsource to other reliable freelancers

You don’t need to hire employees to delegate! Use other freelancers in your network to share the workload. This also helps boost your future opportunities, as they may send work your way, too. It’s a mutually beneficial situation.

Get to know a range of freelancers working within – and adjacent to – your industry. Then, when projects come in that need their expertise, you can outsource that element of the project. Because you’ve found the work, you can take a percentage of their usual cost as a “finder’s fee”, too (usually 10%). Freelancers are always grateful to have a community that sends work their way, so are often happy to give you that small amount as commission – because they’ve not had to work (or pay for marketing) to get the lead.

Outsourcing to freelancers keeps your costs low, too. You’re not responsible for paying their taxes or overheads, so it’s really easy to keep on top of the finances. You simply invoice the client for the full amount, then take your percentage off before you pay your freelancer friend. Remember, that their fee counts as a business expense, so you only need to account for the percentage you retain for the purposes of profit on your tax return.

More time on your hands

Another key advantage of delegation for freelancers is freeing more hours of your day. This additional time can now be used to perfect a skill that might increase the quality of your service or might bring in more business.

You could also use this time to reach out to more people and expand your client network. More free time gives you the opportunity to strategies further and think creatively about new ways to increase your revenue streams. Outsourcing reduces your workload, which might decrease your stress and exhaustion levels. You get more time to focus on the aspects of the job that you enjoy, which leads to feeling more satisfied with your career.

The other bonus of having more free time is, of course, establishing a better work-life balance! This can be difficult when you run your own business, so make sure that when you’re delegating to increase your time, you allow for some of that time to be TIME OFF.

Get a virtual assistant

Virtual assistants are a Godsend for many freelancers. They take on tasks like booking meetings and travel arrangements, managing social media, and handling admin like invoices and emails. It can save you SO much time each week – and because this type of work is THEIR skill set, it takes them less time than it’d take you to do, too!

A virtual assistant could handle a specific thing for you, like balancing your books at the end of each month. Or, you could make them a more central part of your freelance business and get them to handle all the admin and even social media stuff, too. Many freelancers use a virtual assistant for small tasks to start with, then build up their role as the business grows.

Improve your tax returns

Your tax returns will be much easier to manage when you’ve got a virtual assistant or bookkeeper managing your invoices and expenses! If your annual tax return gives you a headache, it’s well worth hiring an accountant to do it for you. It’ll cost a couple of hundred quid. However, a good accountant will likely spot where you can save WAY more than that on your return, so it’s always worth investing in.

More than that, outsourcing fees you pay to assistants, other freelancers, and even business coaches can all be offset against your tax bill. So, using freelancers to support your business benefits you financially, too!

How to delegate effectively

The secret to the art of delegation for freelancers is to do it well. Here are some useful tips about delegating tasks properly to get the most out of this experience for both parties.

• Write a clear brief for the freelancer
• Include deadlines – and stick to them!
• Make sure they have the tools to complete the job
• Be available for them to ask questions
• Avoid micromanaging – it defeats the point!
• Always remember to thank your fellow freelance for their work.

The advantage of using freelancers, instead of employees, is that it’s a flexible arrangement on both sides. So, if you find that a freelancer hasn’t completed a project to your high standards, you’re not obliged to hire them again.

More Freelancing Tips

This is just one of many articles we’ve got to help new and established freelancers succeed with their career. Read these next!

• How to Set Up Your Business in Under One Week
• Paralympian Liz Johnson and Podium: The Disabled Freelancers’ Platform
• The Best Part-Time Freelance Jobs You Can Start Now
• What Is Access to Work and How Does It Help Freelancers?
• What Should a Freelance Contract Include?
• Benefits and Funding for the Newly Self-Employed

The post Work Less, Earn More: The Art of Delegation for Freelancers appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/work-less-earn-more-the-art-of-delegation-for-freelancers

Home Business Magazine Online

As of the second quarter of 2023, the median home price in the U.S. was $416,100, according to the Federal Reserve Bank of St. Louis. This is a significant amount of equity for many homeowners, but it’s often inaccessible due to current lending standards.

In the aftermath of the 2008 financial crisis, the U.S. housing market underwent a significant transformation. Stricter lending standards emerged, designed to prevent another subprime mortgage meltdown. But these well-intentioned reforms, along with more recent rising interest rates and inflation, have contributed to an unexpected consequence: a growing cohort of “boxed-in” homeowners who find themselves asset-rich but cash-poor, unable to access the equity in their homes through traditional means.

In 2016, Jarred Kessler founded EasyKnock to offer a solution: residential sale-leaseback with an option to buy back. This approach aims to provide flexibility and liquidity to homeowners who have been left behind by conventional financial products. Can this model truly address the needs of middle-class Americans struggling with inflation, stagnant wages, and mounting personal debt?

The Boxed-In Phenomenon

According to a recent white paper by researchers Marvin Chang and Jeremy Potter, over 9 million American homeowners could be classified as boxed-in. These individuals have substantial equity in their homes but are unable to access it due to factors like an unaffordable housing market, insufficient income, less-than-stellar credit scores, or other constraints.

The paper notes that there are roughly 2 million mortgage holders with credit scores below 600, 3.2 million homeowners with long-term mortgages at interest rates of 6% or above, and 2.6 million homeowners over the age of 45 without steady income.

Kessler explains the crux of the problem: “After the credit crisis, lenders really started looking more at the person’s profile. One of the big reasons people get declined is their debt-to-income ratio is not in the right place.” This ratio, a key factor in mortgage underwriting, has become increasingly problematic as interest rates have risen and inflation has squeezed household budgets.

Many Americans are taking on more credit card debt at higher rates, hurting their credit scores and restricting their ability to save income and improve their debt-to-income ratio. According to an August 2024 Federal Reserve Bank of New York report, total credit card balances are up 5.8% from a year ago, to $1.14 trillion, and rates of credit card delinquencies are increasing.

“If interest rates go up, debt goes up and that ratio gets out of whack,” says Kessler. “A large percentage of homeowners in the U.S. do not have access to the mortgage markets, and it’s one of the big reasons you don’t see a lot of movement. They’re boxed in. Lower FICO scores are another big reason. Those are really the two driving factors that are boxing in people and we have record amounts of home equity.”

EasyKnock Solution

EasyKnock’s programs offer a potential lifeline to these boxed-in homeowners. Here’s how it works:

The company purchases a home directly from the homeowner at 100% fair market value as determined by an independent appraiser. The homeowner receives 75% of the purchase price in cash at closing, and the remaining 25% is held as an option contract, giving the homeowner the right to buy back the property or to direct a sale on the open market where they can realize all potential future appreciation. The former owner then becomes a tenant of the house, signing a one-year lease with the option to renew for up to five years, depending on the program.

This arrangement provides immediate liquidity while allowing the homeowner to remain in their house. It’s a stark contrast to traditional options like home equity loans or cash-out refinancing, which often remain out of reach for those with credit issues or insufficient income.

“We give people appreciation, we give people the chance to buy back their home, we’re paying their taxes, homeowners insurance, [homeowners association] fees, we’re handling some of the repairs. We’re giving people an opportunity,” says Kessler.

EasyKnock has also made efforts to keep the rental arrangement fair and transparent. It caps annual rent increases at the greater of 2.5% or the consumer price index, which stands in contrast to some landlords who have implemented dramatic rent hikes in recent years.

Kessler also emphasizes the sell-leaseback model isn’t meant to be a permanent solution, but rather a bridge to help homeowners regain their financial footing.

“If we’re not seeing them again, it’s a good thing,” he says, noting that many customers use the program to pay off high-interest debt or weather temporary financial difficulties before repurchasing their homes.

The Broader Economic Context Going Forward

EasyKnock’s emergence comes at a time of significant economic uncertainty. With inflation pressures persisting, many middle-class homeowners find themselves in precarious financial positions. A lack of financial cushion makes accessing home equity all the more critical for many families.

“A few years ago, somewhere around 50% of the country couldn’t afford an unexpected bill of $1,000 or more, and I bet you it’s now $500,” Kessler says.

The company’s focus on the middle class is deliberate and, Kessler argues, necessary. “I think a lot of people are trying to serve the upper echelon and I think the people that need the most help are the middle class,” he says. “When you’re rich, there’s a lot of choices and when you’re in the middle class, there are not a lot of choices.”

Looking ahead, Kessler sees both opportunities and potential pitfalls in the housing market. He anticipates a potential increase in foreclosures and believes that, as interest rates eventually decline, it could drive up home prices in some areas while leading to repricing in others.

“I think you’re going to see more so than any other period, a discrepancy throughout the United States of some markets that are doing really well versus markets that are doing really bad,” he cautions.

As the 2024 U.S. presidential election approaches, housing affordability is emerging as a key issue. Kessler sees this as both an opportunity and a challenge. “Affordability is the sleeper issue of the campaign this year,” he believes.

However, he’s also wary of how the issue might be politicized. “The biggest problem is the middle class, and people struggling with income are too often used as pawns in these elections,” Kessler says. He argues for more concrete action: “If you really want to help these people, you should encourage incentives to help them.”

The post How EasyKnock Aims To Serve the “Boxed-In” Middle-Class Homeowner appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/business-spotlight/how-easyknock-aims-serve-boxed-middle-class-homeowners/

Are you a search marketer looking to expand your reach and drive even more impactful results? Look no further. Join us for How Search Marketing Turned the Tide for CTV Audience Targeting and learn how your existing search marketing expertise can be a valuable asset on this powerful advertising platform.

Connected TV (CTV) has a new feature that you may recognize right away: keyword targeting. This Search Engine Land webinar will show you how CTV fits seamlessly into your search strategy and how to use your existing keyword knowledge to reach your target audience on the big screen.

Explore the new frontier of keyword targeting and leverage your search marketing expertise across platforms. Click here to save your spot!

Original source: https://searchengineland.com/the-future-of-keyword-targeting-447011