I think Google will provide a reasonably fair pricing model. I heard about how Groupon takes 50% of the money and pay their business partners with a 90 days delay. That sounds disgustingly greedy to me. And the person who mentioned that then said that Google has a similar service where they take only 20% and pay within 4 days. Maybe that's too greedy too but it's at least more reasonable, and maybe even fair. I would be surprised if Google tried to rip off its App Engine customers too much.
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