The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Apple is flailing around to the beat. The $535 billion iPhone maker may buy superstar rapper Jay Z’s music-streaming service Tidal, according to the Wall Street Journal. The presumed logic is that it will help Apple strengthen its own service. Meanwhile Spotify says Apple is harming it by rejecting an app upgrade. Apple has the clout to fend off rivals but adding Tidal won’t help get its rhythm back.
from Alison Frankel:
In 1980, New Jersey enacted a law to prohibit businesses from deceiving consumers about their legal rights. The awkwardly named Truth in Consumer Contract, Warranty and Notice Act provided statutory damages of $100 to "aggrieved consumers" who, for instance, bought a ticket or signed a contract that falsely claimed customers couldn't sue over personal injuries. The point of the law was to protect unsophisticated buyers who might be dissuaded by these deceptive notices from enforcing their legal rights.
An executive at the iPhone maker proposed a bid for Time Warner, a move that would have been at odds with Apple founder Steve Jobs’ recipe for success: Reject “1,000 ideas” and focus on the very few excellent ones. Aging smartphones, a tepid stock price and a pile of idle cash, however, could make the mediocre look awfully tempting.