Tim Cook: Apple

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pages: 260 words: 67,823

Always Day One: How the Tech Titans Plan to Stay on Top Forever by Alex Kantrowitz

accounting loophole / creative accounting, Albert Einstein, AltaVista, Amazon Web Services, augmented reality, Automated Insights, autonomous vehicles, Bernie Sanders, Clayton Christensen, cloud computing, collective bargaining, computer vision, Donald Trump, drone strike, Elon Musk, Firefox, Google Chrome, hive mind, income inequality, Infrastructure as a Service, inventory management, iterative process, Jeff Bezos, job automation, Jony Ive, knowledge economy, Lyft, Mark Zuckerberg, Menlo Park, new economy, Peter Thiel, QR code, ride hailing / ride sharing, robotic process automation, self-driving car, Silicon Valley, Skype, Snapchat, Steve Ballmer, Steve Jobs, Steve Wozniak, super pumped, Tim Cook: Apple, uber lyft, wealth creators, zero-sum game

New York Times, December 2, 2015. https://www.nytimes.com/2015/12/03/us/san-bernardino-shooting.html. an iPhone 5c: Ng, Alfred. “FBI Asked Apple to Unlock iPhone Before Trying All Its Options.” CNET, March 27, 2018. https://www.cnet.com/news/fbi-asked-apple-to-unlock-iphone-before-trying-all-its-options. not just one iPhone: Grossman, Lev. “Apple CEO Tim Cook: Inside His Fight with the FBI.” Time. Time Magazine, March 17, 2016. https://time.com/4262480/tim-cook-apple-fbi-2. the side of privacy: Cook, Tim. “Customer Letter.” Apple. Accessed February 16, 2016. https://www.apple.com/customer-letter. “To me, marketing is about values”: “Best Marketing Strategy Ever!

CNBC, October 23, 2017. https://www.cnbc.com/2017/10/23/apple-co-founder-steve-wozniak-not-upgrading-to-iphone-x-right-away.html. Cook, in an interview with CNBC: “CNBC Exclusive: CNBC Transcript: Apple CEO Tim Cook Speaks with CNBC’s Jim Cramer Today.” CNBC. CNBC, January 8, 2019. https://www.cnbc.com/2019/01/08/exclusive-cnbc-transcript-apple-ceo-tim-cook-speaks-with-cnbcs-jim-cramer-today.html. Apple had Siri: Gross, Doug. “Apple Introduces Siri, Web Freaks Out.” CNN. Cable News Network, October 4, 2011. https://www.cnn.com/2011/10/04/tech/mobile/siri-iphone-4s-skynet/index.html. “Since October 2011, when Steve died”: Note that Jobs began the Siri project.

These elements—the design-led development process, the focus, and the element of surprise—have all combined to make Apple’s flagship devices the most desired products in the world. But these same factors are conspiring against Apple as it faces a shift of a similar magnitude to the one Google encountered when typing and clicking turned into talking and tapping. “A Form That’s Right” On January 2, 2019, Tim Cook posted a rare letter to Apple’s website. “To Apple investors,” he wrote. “Today we are revising our guidance for Apple’s fiscal 2019 first quarter.” The letter marked the first time Apple had revised its financial predictions since 2002, when it anticipated it would miss revenue expectations by at least $150 million.


pages: 464 words: 155,696

Becoming Steve Jobs: The Evolution of a Reckless Upstart Into a Visionary Leader by Brent Schlender, Rick Tetzeli

Albert Einstein, Apple II, Apple's 1984 Super Bowl advert, Bill Atkinson, Bill Gates: Altair 8800, Bob Noyce, Byte Shop, Charles Lindbergh, computer age, corporate governance, El Camino Real, Isaac Newton, John Markoff, Jony Ive, Kickstarter, Marc Andreessen, market design, McMansion, Menlo Park, Paul Terrell, popular electronics, QWERTY keyboard, Ronald Reagan, Sand Hill Road, side project, Silicon Valley, Silicon Valley startup, skunkworks, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, Tim Cook: Apple, Wall-E, Watson beat the top human players on Jeopardy!, Whole Earth Catalog

Jon Rubinstein and Avie Tevanian were the next members of the “Save Apple” team to depart. Ruby and Avie had been a buddy act of sorts, managing the hardware and software sides of Apple’s whole widget. Says Ruby, “There’s as much of the turnaround team’s DNA in Apple as there is of Steve’s, and you can still see it today.” They had been involved in every key decision at Apple since 1997. And before they left they helped pull off a move that they’d been talking about with Steve and with Tim Cook for years—switching the microprocessors that powered every Apple personal computer from the PowerPC chip to one made by Intel.

THE LAST MEMORIAL service occurred at the Apple campus in Cupertino, on October 20. Nearly ten thousand people gathered on the lawn within the ellipse formed by the campus’s main buildings. Every Apple retail outlet around the globe had been closed for the occasion, with the store employees gathered to watch video of the event streamed live to them over Apple’s virtual network. Tim Cook was the first speaker. Coldplay and Norah Jones, whose music had been featured in Apple television advertisements, played short sets for the crowd. But two speakers provided the highlights: Jony Ive and Bill Campbell, the Apple board member who had been a close adviser of Steve for many, many years.

Aside from snippets from my own encounters with Jobs, most of the direct quotations in this chapter were drawn from interviews with Eddy Cue on April 29, 2014; Fred Anderson on August 8, 2012; Avie Tevanian on October 11, 2012; Tim Cook on April 30, 2014; Jon Rubinstein on July 25, 2012; Jony Ive on May 6, 2014, and June 10, 2014; John Doerr on May 7, 2014; Jean-Louis Gassée on October 17, 2012; and Marc Andreessen on May 7, 2014. Online resources we consulted include Fastcodesign.com, the Fast Company magazine website that focuses on design, May 22, 2014, http://www.fastcodesign.com/3030923/4-myths-about-apple-design-from-an-ex-apple-designer; and the blog by former Apple engineer Don Melton, donmelton.com/2014/04/10/memories-of-steve/. Also, Apple SEC filings provided unit sales data each quarter from Fiscal Year 2000 through Fiscal Year 2013.


pages: 275 words: 84,418

Dogfight: How Apple and Google Went to War and Started a Revolution by Fred Vogelstein

Apple II, Ben Horowitz, Bill Atkinson, cloud computing, commoditize, disintermediation, don't be evil, Dynabook, Firefox, Google Chrome, Google Glasses, Googley, John Markoff, Jony Ive, Marc Andreessen, Mark Zuckerberg, Peter Thiel, pre–internet, Silicon Valley, Silicon Valley startup, Skype, software patent, spectrum auction, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, Tim Cook: Apple, web application, zero-sum game

But perhaps the most notable example: Jessica Lessin, “An Apple Exit over Maps,” Wall Street Journal, 10/29/2012; Liz Gannes, “Google Maps for iPhone Had 10 Million Downloads in 48 Hours,” AllThingsD.com, 12/17/2012. Apple’s Tim Cook knows all the challenges: Ina Fried, “Apple’s Tim Cook: The Full D11 Interview,” Tim Cook interviewed by Walt Mossberg and Kara Swisher (video), AllThingsD.com, 5/29/2013, available at www.allthingsd.com/20130529/apples-tim-cook-the-full-d11-interview-video. Jobs was a master: Peter Kafka, “Apple CEO Steve Jobs at D8: The Full, Uncut Interview,” Steve Jobs interviewed by Walt Mossberg and Kara Swisher (video), AllThingsD.com, 6/7/2010, available at www.allthingsd.com/20100607/steve-jobs-at-d8-the-full-uncut-interview.

Android’s share of the mobile phone and tablet markets: “Android Captures Record 80 Percent Share of Global Smartphone Shipments in Q2 2013,” Strategy Analytics press release, 8/1/2013; “Small Tablets Drive Big Share Gains for Android,” Canalys press release, 8/1/2013. Apple was also taking heat: Charles Duhigg and Keith Bradsher, “How the US Lost Out on iPhone Work,” New York Times, 1/21/2012; Duhigg and Bradsher, “In China, Human Costs Are Built into an iPad,” New York Times, 1/25/2012; Mark Gurman, “Tim Cook Responds to Claims of Factory Worker Mistreatment: ‘We Care About Every Worker in Our Supply Chain,’” 9to5mac.com, 1/26/2012; “Here’s Apple CEO Tim Cook’s Apology Letter in China” (Digits blog), Wall Street Journal, 4/1/2013. But perhaps the most notable example: Jessica Lessin, “An Apple Exit over Maps,” Wall Street Journal, 10/29/2012; Liz Gannes, “Google Maps for iPhone Had 10 Million Downloads in 48 Hours,” AllThingsD.com, 12/17/2012.

Indeed, the best phone ads of 2012 and 2013 came from Samsung, Google’s biggest Android phone maker. After Apple unveiled the iPhone 5, Samsung pounced with a barrage of TV spots that amusingly depicted iPhone users as misguided elitists waiting in line for a phone that was inferior in every way to the Galaxy S III. Apple was also taking heat for the way it was making its phones. The New York Times, in a handful of long articles about the “iEconomy,” presented evidence that Apple was making its iPhones and iPads in Asian sweatshops, forcing CEO Tim Cook to acknowledge Apple could do more to make its contractors provide safer workplaces.


pages: 915 words: 232,883

Steve Jobs by Walter Isaacson

air freight, Albert Einstein, Apple II, Apple's 1984 Super Bowl advert, big-box store, Bill Atkinson, Bob Noyce, Buckminster Fuller, Byte Shop, centre right, Clayton Christensen, cloud computing, commoditize, computer age, computer vision, corporate governance, death of newspapers, don't be evil, Douglas Engelbart, Dynabook, El Camino Real, Electric Kool-Aid Acid Test, fixed income, game design, Golden Gate Park, Hacker Ethic, hiring and firing, Jeff Bezos, Johannes Kepler, John Markoff, Jony Ive, lateral thinking, Mark Zuckerberg, Menlo Park, Mitch Kapor, Mother of all demos, Paul Terrell, profit maximization, publish or perish, Richard Feynman, Robert Metcalfe, Robert X Cringely, Ronald Reagan, Silicon Valley, skunkworks, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, supply-chain management, thinkpad, Tim Cook: Apple, Wall-E, Whole Earth Catalog

A Soōtoō Zen master in California who became Jobs’s spiritual teacher. LEE CLOW. Advertising wizard who created Apple’s “1984” ad and worked with Jobs for three decades. DEBORAH “DEBI” COLEMAN. Early Mac team manager who took over Apple manufacturing. TIM COOK. Steady, calm, chief operating officer hired by Jobs in 1998; replaced Jobs as Apple CEO in August 2011. EDDY CUE. Chief of Internet services at Apple, Jobs’s wingman in dealing with content companies. ANDREA “ANDY” CUNNINGHAM. Publicist at Regis McKenna’s firm who handled Apple in the early Macintosh years. MICHAEL EISNER. Hard-driving Disney CEO who made the Pixar deal, then clashed with Jobs.

Panasonic came out with a CD drive that could rip and burn music, and it was available first for computers that had old-fashioned tray loaders. The effects of this would ripple over the next few years: It would cause Apple to be slow in catering to users who wanted to rip and burn their own music, but that would then force Apple to be imaginative and bold in finding a way to leapfrog over its competitors when Jobs finally realized that he had to get into the music market. CHAPTER TWENTY-EIGHT CEO Still Crazy after All These Years Tim Cook and Jobs, 2007 Tim Cook When Steve Jobs returned to Apple and produced the “Think Different” ads and the iMac in his first year, it confirmed what most people already knew: that he could be creative and a visionary.

Business Week, July 31, 2000; Tim Cook, Auburn commencement address, May 14, 2010; Adam Lashinsky, “The Genius behind Steve,” Fortune, Nov. 10, 2008; Nick Wingfield, “Apple’s No. 2 Has Low Profile,” Wall Street Journal, Oct. 16, 2006. Mock Turtlenecks and Teamwork: Interviews with Steve Jobs, James Vincent, Jony Ive, Lee Clow, Avie Tevanian, Jon Rubinstein. Lev Grossman, “How Apple Does It,” Time, Oct. 16, 2005; Leander Kahney, “How Apple Got Everything Right by Doing Everything Wrong,” Wired, Mar. 18, 2008. From iCEO to CEO: Interviews with Ed Woolard, Larry Ellison, Steve Jobs. Apple proxy statement, Mar. 12, 2001.


pages: 416 words: 129,308

The One Device: The Secret History of the iPhone by Brian Merchant

Airbnb, animal electricity, Apple II, Apple's 1984 Super Bowl advert, citizen journalism, Claude Shannon: information theory, computer vision, conceptual framework, Douglas Engelbart, Dynabook, Edward Snowden, Elon Musk, Ford paid five dollars a day, Frank Gehry, global supply chain, Google Earth, Google Hangouts, Internet of things, Jacquard loom, John Gruber, John Markoff, Jony Ive, Lyft, M-Pesa, MITM: man-in-the-middle, more computing power than Apollo, Mother of all demos, natural language processing, new economy, New Journalism, Norbert Wiener, offshore financial centre, oil shock, pattern recognition, peak oil, pirate software, profit motive, QWERTY keyboard, ride hailing / ride sharing, rolodex, Shenzhen special economic zone , Silicon Valley, Silicon Valley startup, skunkworks, Skype, Snapchat, special economic zone, speech recognition, stealth mode startup, Stephen Hawking, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, Tim Cook: Apple, Turing test, uber lyft, Upton Sinclair, Vannevar Bush, zero day

The cost is tens of thousands of lives being made miserable by those last-minute orders, militaristic work environments, and relentless stretches of overtime. This is not necessarily Apple’s fault, but it is certainly a by-product of a globalized workforce. Apple was actually one of the last major tech companies to move its manufacturing overseas; it had spent decades touting its Made in America bona fides. And Tim Cook, who rose through the ranks at Apple on the strength of his supply-chain wizardry, is himself a key driver in that push toward breakneck production. One of his initiatives has been an attempt to eliminate inventory—today, Apple turns over its entire inventory every five days, meaning each iPhone goes from the factory line in China to a cargo jet to a consumer’s hands in a single workweek.

The top editorial staff of iPhoneLife magazine participated in an interview call during which I tried to suss out what it was like to write about the iPhone daily for a living. In a phone interview, Cory Moll detailed what forming a union at Apple was like. Mark Spoonauer provided context as a tech editor and longtime vet of Apple Events. I interviewed a couple dozen Apple Store employees, but covertly, which is why I didn’t publish any of their quotes in the text—retail reps aren’t allowed to speak to the press. I also interviewed perhaps a dozen customers waiting in line on launch day. As for the Tim Cook email episode—an Apple PR rep confirmed that Tim had opened my email and forwarded it on; she said he had read it first. Streak’s representatives told me that their technology could “very accurately” determine which device a person used to open an email.

(While I’ve been on the science and tech beat for about a decade now, I’ve spent more time covering oil spills than product demos.) So, while I made Apple officials fully aware of this project from the outset and repeatedly spoke with and met their PR representatives, they declined my many requests to interview executives and employees. Tim Cook never answered my (very thoughtful) emails. To tell this story, I met current and former Apple employees in dank dive bars or spoke with them over encrypted communications, and I had to grant anonymity to some of those I interviewed. Many people from the iPhone team still working at Apple told me they would have loved to participate on the record—they wanted the world to know its incredible story—but declined for fear of violating Apple’s strict policy of secrecy.


pages: 363 words: 94,139

Jony Ive: The Genius Behind Apple's Greatest Products by Leander Kahney

Apple II, banking crisis, British Empire, Chuck Templeton: OpenTable:, Computer Numeric Control, Dynabook, global supply chain, interchangeable parts, John Markoff, Jony Ive, Kickstarter, race to the bottom, RFID, Savings and loan crisis, side project, Silicon Valley, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, the built environment, thinkpad, Tim Cook: Apple

Jobs’s first surgery didn’t fully cure him and he later underwent a second round of surgery, taking a leave of absence from Apple to undergo a liver transplant in Memphis, Tennessee, in May 2009. Jobs flew home on his private jet with his wife, where he was met by Jony and Tim Cook at San Jose Airport. The question of Apple’s future was very much in the air, as the announcement of Jobs’s leave had led many in the press to predict that Apple was doomed without him. It seemed to be the consensus of the punditocracy that the fate of Apple rested solely on Jobs’s shoulders. Jony drove Jobs home from the airport and confided on the journey that he was disturbed by newspaper opinion pieces that staked Apple’s survival to Jobs.

Jonny Evans, “Apple Design Chief Jonathan Ive Collects CBE,”Macworld, http://www.macworld.co.uk/mac/news/?newsid=16510, November 17, 2006. 24. Marcus Fairs, ICON, http://www.iconeye.com/read-previous-issues/icon-004-|-july/august-2003/jonathan-ive-|-icon-004-|-july/august-2003, July /August 2003. 25. Dick Powell, “At the Core of Apple,” Innovate, issue 6, Summer 2009, http://www.innovation.rca.ac.uk/cms/files/Innovate6.pdf 26. Phil Schiller, Apple v. Samsung trial testimony. 27. Isaacson, Steve Jobs, Kindle Edition. 28. Apple Press info, “Tim Cook Named COO of Apple,” http://www.apple.com/pr/library/2005/10/14Tim-Cook-Named-COO-of-Apple.html, October 14, 2005. 29.

Apple Press info, “Tim Cook Named COO of Apple,” http://www.apple.com/pr/library/2005/10/14Tim-Cook-Named-COO-of-Apple.html, October 14, 2005. 29. Interview with Jon Rubinstein, October 2012 30. Leander Kahney, Inside Steve’s Brain, expanded edition (Portfolio, 2009), 96. 31. Joel West, “Apple Computer: The iCEO Seizes the Internet,” http://www.scribd.com/doc/60250577/APPLE-Business, October 20, 2002. 32. Adam Lashinsky, “Tim Cook: The Genius Behind Steve,” Fortune, http://money.cnn.com/2011/08/24/technology/cook_apple.fortune/index.htm, August 24, 2011. 33. Interview with Doug Satzger, January 2013. 34. Walter Isaacson, Steve Jobs, Kindle edition 35.


pages: 308 words: 85,880

How to Fix the Future: Staying Human in the Digital Age by Andrew Keen

23andMe, Ada Lovelace, Affordable Care Act / Obamacare, Airbnb, Albert Einstein, Andrew Keen, Apple's 1984 Super Bowl advert, augmented reality, autonomous vehicles, basic income, Bernie Sanders, bitcoin, Black Swan, blockchain, Brewster Kahle, British Empire, computer age, creative destruction, crowdsourcing, data is the new oil, digital map, disinformation, don't be evil, Donald Trump, Edward Snowden, Elon Musk, Erik Brynjolfsson, European colonialism, Filter Bubble, Firefox, full employment, future of work, gig economy, global village, income inequality, independent contractor, informal economy, Internet Archive, Internet of things, invisible hand, Isaac Newton, James Watt: steam engine, Jane Jacobs, Jaron Lanier, Jeff Bezos, jimmy wales, job automation, Joi Ito, Kevin Kelly, knowledge economy, Lyft, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Menlo Park, Mitch Kapor, move fast and break things, move fast and break things, Network effects, new economy, Nicholas Carr, Norbert Wiener, Parag Khanna, peer-to-peer, Peter Thiel, Plutocrats, plutocrats, postindustrial economy, precariat, Ralph Nader, Ray Kurzweil, rent-seeking, ride hailing / ride sharing, Sam Altman, Sand Hill Road, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, Skype, smart cities, Snapchat, social graph, software is eating the world, Stephen Hawking, Steve Jobs, Steve Wozniak, surveillance capitalism, technoutopianism, The Future of Employment, the High Line, the new new thing, Thomas L Friedman, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, universal basic income, Unsafe at Any Speed, Upton Sinclair, urban planning, WikiLeaks, winner-take-all economy, Y Combinator, Yogi Berra, Zipcar

Vestager,” Stephens admits, “but everyone who supports the liberal market economy that made possible the success of Apple, Google and the like should be applauding her courageous effort to reset the balance.”4 Vestager’s courage has been her unwavering determination to squarely stand up to what Farhad Manjoo calls the “new superclass of American corporate might.”5 By reminding companies like Google and Apple of their responsibilities in the real world, Philip Stephens suggests, Vestager—as it happens, the mother of three young girls—is socializing these often rather childish exponents of radical disruption. Apple’s CEO, Tim Cook, for example, “often sounds as if he believes his company should be free to decide how much it pays in tax,” Stephens notes.6 And Vestager hasn’t been shy about explaining to Cook his grown-up obligations.

But all she is doing, she explains, is siding with her fellow 507 million Europeans against multibillion-dollar multinationals like Apple, which cheats on taxes, and Google, which illegally crushes its smaller competitors. Tim Cook might call this “political crap,” but for Vestager it’s the essence of her calling as a public servant responsible for pursuing the interests of her community. Not everyone, of course, favors this kind of socially interventionist government. Tim Cook certainly doesn’t. Nor did Lee Kuan Yew, the founder of Singapore, who viewed it as foreign to his ideals. “Westerners have abandoned an ethical basis for society, believing that all problems are solvable by a good government,” he said about Vestager’s style of European social democracy.

“If you have any ideas,” Bezos concluded, with typical quirkiness, “just reply to this tweet . . .”10 To take another example, Marc Benioff—the swaggering Henry VIII look-alike CEO of the business software provider Salesforce.com—though a remarkably generous supporter of many noble social causes, remains perhaps a little too enamored with attaching his name to public projects such as the UCSF Benioff Children’s Hospital in San Francisco. Then there’s Tim Cook, the Apple CEO, whom we last met in Margrethe Vestager’s Brussels office, trying to convince the EU commissioner that the 0.005 percent tax his company paid to the Irish government was somehow in the public interest. Yet that’s the same Tim Cook who has been outspoken in his defense of immigration and minority rights and in his critique of the corrosive impact of fake news on our political culture. Yes, it’s complicated.


pages: 515 words: 132,295

Makers and Takers: The Rise of Finance and the Fall of American Business by Rana Foroohar

accounting loophole / creative accounting, activist fund / activist shareholder / activist investor, additive manufacturing, Airbnb, algorithmic trading, Alvin Roth, Asian financial crisis, asset allocation, bank run, Basel III, Bear Stearns, bonus culture, Bretton Woods, British Empire, business cycle, buy and hold, call centre, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, carried interest, centralized clearinghouse, clean water, collateralized debt obligation, commoditize, computerized trading, corporate governance, corporate raider, corporate social responsibility, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, crowdsourcing, David Graeber, deskilling, Detroit bankruptcy, diversification, Double Irish / Dutch Sandwich, Emanuel Derman, Eugene Fama: efficient market hypothesis, financial deregulation, financial intermediation, Frederick Winslow Taylor, George Akerlof, gig economy, Goldman Sachs: Vampire Squid, Gordon Gekko, greed is good, High speed trading, Home mortgage interest deduction, housing crisis, Howard Rheingold, Hyman Minsky, income inequality, index fund, information asymmetry, interest rate derivative, interest rate swap, Internet of things, invisible hand, James Carville said: "I would like to be reincarnated as the bond market. You can intimidate everybody.", John Bogle, John Markoff, joint-stock company, joint-stock limited liability company, Kenneth Rogoff, Kickstarter, knowledge economy, labor-force participation, London Whale, Long Term Capital Management, manufacturing employment, market design, Martin Wolf, money market fund, moral hazard, mortgage debt, mortgage tax deduction, new economy, non-tariff barriers, offshore financial centre, oil shock, passive investing, Paul Samuelson, pensions crisis, Ponzi scheme, principal–agent problem, quantitative easing, quantitative trading / quantitative finance, race to the bottom, Ralph Nader, Rana Plaza, RAND corporation, random walk, rent control, Robert Shiller, Robert Shiller, Ronald Reagan, Satyajit Das, Savings and loan crisis, Second Machine Age, shareholder value, sharing economy, Silicon Valley, Silicon Valley startup, Snapchat, Social Responsibility of Business Is to Increase Its Profits, sovereign wealth fund, Steve Jobs, technology bubble, The Chicago School, the new new thing, The Spirit Level, The Wealth of Nations by Adam Smith, Tim Cook: Apple, Tobin tax, too big to fail, Tragedy of the Commons, trickle-down economics, Tyler Cowen: Great Stagnation, Vanguard fund, zero-sum game

But when I once asked him to do Apple CEO Tim Cook, he declined. “Nah, I can’t do Cook. I can only do crazies.”1 Of course, some people say Cook is crazy to listen to Icahn, who has spent the last several years trying to persuade him to give back more and more of Apple’s $200 billion cash hoard to investors in the form of massive share buybacks, instead of investing it back in R&D or product development. This had the effect of pushing up the price of Apple’s stock while conveniently increasing the value of Icahn’s $7 billion in Apple holdings along with those of all the other Apple investors. In April 2015, Icahn’s efforts paid off, bigger than even he could have imagined.

Sonn, and Yannet Lathrop, National Employment Law Project, “The Growing Movement for $15,” November 4, 2015. 5. Carl C. Icahn, “Sale: Apple Shares at Half Price” (an open letter to Tim Cook), carlicahn.com, October 9, 2014; William Lazonick, Mariana Mazzucato, and Oner Tulum, “Apple’s Changing Business Model: What Should the World’s Richest Company Do with All Those Profits?” Accounting Forum 37, no. 4 (2013): 261; author interviews and reporting for Time magazine. 6. Nabila Ahmed and Mary Childs, “Apple Is the New Pimco, and Tim Cook Is the New King of Bonds,” Bloomberg, June 4, 2015. 7. Interview with OFR economists and analysts for this book. 8.

Worse, financial thinking has become so ingrained in American business that even our biggest and brightest companies have started to act like banks. Apple, for example, has begun using a good chunk of its spare cash to buy corporate bonds the same way financial institutions do, prompting a 2015 Bloomberg headline to declare, “Apple Is the New Pimco, and Tim Cook Is the New King of Bonds.”6 Apple and other tech companies now anchor new corporate bond offerings just as investment banks do, which is not surprising considering how much cash they hold (it seems only a matter of time before Apple launches its own credit card). They are, in essence, acting like banks, but they aren’t regulated like banks.


pages: 239 words: 69,496

The Wisdom of Finance: Discovering Humanity in the World of Risk and Return by Mihir Desai

activist fund / activist shareholder / activist investor, Albert Einstein, Andrei Shleifer, assortative mating, Benoit Mandelbrot, Brownian motion, capital asset pricing model, carried interest, Charles Lindbergh, collective bargaining, corporate governance, corporate raider, discounted cash flows, diversified portfolio, Eugene Fama: efficient market hypothesis, financial innovation, follow your passion, George Akerlof, Gordon Gekko, greed is good, housing crisis, income inequality, information asymmetry, Isaac Newton, Jony Ive, Kenneth Rogoff, longitudinal study, Louis Bachelier, Monty Hall problem, moral hazard, Myron Scholes, new economy, out of africa, Paul Samuelson, Pierre-Simon Laplace, principal–agent problem, Ralph Waldo Emerson, random walk, risk/return, Robert Shiller, Robert Shiller, Ronald Coase, Silicon Valley, Steve Jobs, Thales and the olive presses, Thales of Miletus, The Market for Lemons, The Nature of the Firm, The Wealth of Nations by Adam Smith, Tim Cook: Apple, transaction costs, zero-sum game

As just one example of this, the largest individual owner of Apple is CEO Tim Cook, but he owns only 0.02 percent of the company. Even the largest mutual fund owner of Apple owns less than 10 percent of the company. There are millions of investors in Apple who have decided to delegate the job of running Apple to managers—and these investors expect the managers to pursue what is in the best interest of the investors in Apple. For financial economists, this transition to companies with diffuse owners who delegate authority to professional managers is akin to Adam biting the apple in the Garden of Eden—it represents the end of innocence and the beginning of the modern world.

In short, capital markets begin to look like a daisy chain of principal-agent contracts, each with significant problems and conflicts. Let’s return to Apple. In 2013, Tim Cook faced a revolt triggered by the actions of David Einhorn of Greenlight Capital, who wanted Cook to start releasing all the cash that was building up inside of Apple. Cook, and Steve Jobs before him, had resisted calls to release that cash. Einhorn was the principal telling his agent, Tim Cook, to return that cash to shareholders. But Einhorn is himself the agent of state pension funds that have delegated to him the job of generating returns.

And those state pension funds have our savings invested in them, and we’ve appointed those pension fund managers to manage our wealth. It is a series of principal-agent relationships—we (the ultimate principal) save through pensions funds (our agents), which appoint David Einhorn (the agents of the pension funds), who monitors Tim Cook (the agent of David Einhorn), who appoints Jony Ive (Cook’s agent as Apple’s chief design officer), who appoints . . . you get the idea. Once you become attuned to the principal-agent relationship, it’s hard not to see it playing out everywhere in life. In many ways, the biggest debates today on what is wrong with capitalism are actually debates about finance and agency theory.


pages: 397 words: 110,222

Habeas Data: Privacy vs. The Rise of Surveillance Tech by Cyrus Farivar

Apple's 1984 Super Bowl advert, autonomous vehicles, call centre, citizen journalism, cloud computing, computer age, connected car, do-ocracy, Donald Trump, Edward Snowden, en.wikipedia.org, failed state, Ferguson, Missouri, Frank Gehry, Golden Gate Park, John Markoff, license plate recognition, Lyft, national security letter, Occupy movement, optical character recognition, Port of Oakland, RAND corporation, Ronald Reagan, sharing economy, Silicon Valley, Silicon Valley startup, Skype, Steve Jobs, Steven Levy, The Hackers Conference, Tim Cook: Apple, transaction costs, uber lyft, WikiLeaks, you are the product, Zimmermann PGP

When the clock struck midnight: Sebastian Anthony, “Tim Cook Says Apple Will Fight US Gov’t Over Court-Ordered iPhone Backdoor,” Ars Technica, February 17, 2016. Available at: https://arstechnica.com/​gadgets/​2016/​02/​tim-cook-says-apple-will-fight-us-govt-over-court-ordered-iphone-backdoor/. “We have great respect”: Tim Cook, “A Message to our Customers,” February 16, 2016. https://www.apple.com/​customer-letter/. Seventy-two hours later: UNITED STATES V. IN THE MATTER OF THE SEARCH OF AN APPLE IPHONE, GOVERNMENT’S MOTION TO COMPEL, February 19, 2016. https://www.documentcloud.org/​documents/​2715997-Apple-iPhone-Access-MOTION-to-COMPEL.html.

Two days later, FBI Director: FBI Director Comments on San Bernardino Matter, February 21, 2016. https://www.fbi.gov/​news/​pressrel/​press-releases/​fbi-director-comments-on-san-bernardino-matter. The following day, February 22: “Email to Apple employees from Apple CEO Tim Cook,” February 22, 2016. Available at: https://www.documentcloud.org/​documents/​2716997-Tim-Cook-Emails-Apple-Employees.html. While all of this was going on: David Kravets, “Trump Urges Supporters to Boycott Apple in Wake of Encryption Brouhaha,” Ars Technica, February 19, 2016. Available at: https://arstechnica.com/​tech-policy/​2016/​02/​trump-urges-supporters-to-boycott-apple-in-wake-of-encryption-brouhaha/​. The New York case: Cyrus Farivar, “Feds: Since Apple Can Unlock iPhone 5S Running iOS 7, It Should,” Ars Technica, October 24, 2015.

Available at: https://arstechnica.com/​tech-policy/​2014/​03/​judge-denies-govt-request-to-search-suspects-iphone-in-ricin-case/​. “On devices running iOS”: Cyrus Farivar, “Apple Expands Data Encryption Under iOS 8, Making Handover to Cops Moot,” Ars Technica, September 18, 2014. Available at: https://arstechnica.com/​apple/​2014/​09/​apple-expands-data-encryption-under-ios-8-making-handover-to-cops-moot/​. That same day, in an open letter: “A mess age from Tim Cook about Apple’s commitment to your privacy.” September 18, 2014. Available at: https://web.archive.org/​web/​20141112091320/​https://www.apple.com/​privacy/​ Google followed suit the next day: Craig Timberg, “Newest Androids Will Join iPhones in Offering Default Encryption, Blocking Police,” The Washington Post, September 18, 2014. https://www.washingtonpost.com/​news/​the-switch/​wp/​2014/​09/​18/​newest-androids-will-join-iphones-in-offering-default-encryption-blocking-police/​?


pages: 390 words: 114,538

Digital Wars: Apple, Google, Microsoft and the Battle for the Internet by Charles Arthur

activist fund / activist shareholder / activist investor, AltaVista, Build a better mousetrap, Burning Man, cloud computing, commoditize, credit crunch, crowdsourcing, disintermediation, don't be evil, en.wikipedia.org, Firefox, gravity well, Jeff Bezos, John Gruber, Mark Zuckerberg, Menlo Park, Network effects, PageRank, pre–internet, Robert X Cringely, Silicon Valley, Silicon Valley startup, skunkworks, Skype, slashdot, Snapchat, software patent, speech recognition, stealth mode startup, Steve Ballmer, Steve Jobs, the new new thing, the scientific method, Tim Cook: Apple, turn-by-turn navigation, upwardly mobile

Yet he would not be hurried; once again he managed the moment perfectly, releasing a statement to the board later that month saying that ‘I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.’ He ‘strongly recommended’ that the board ‘execute our succession plan and name Tim Cook as CEO of Apple’. That Apple had a succession plan came as a surprise to analysts and shareholders who had repeatedly asked the company to specify what, if any, plans there were if Jobs were to fall under a bus, and been rebuffed. He asked to be made chairman (a role largely seen inside Apple as a sinecure). The board acquiesced to all his demands. ‘I believe Apple’s brightest and most innovative days are ahead of it,’ Jobs wrote.

The latter was the case with the town of Mildura, in the Australian Outback, which was shown miles from its correct location; Australian police issued a warning to people not to use Apple’s Maps to find it lest they die of heatstroke in the arid land. (The error was tracked down to a difference in the official Australian gazetteer, which gives place locations, between ‘Mildura’, the town, and ‘Mildura Rural City’, the nominal centre of a 22,000 square kilometre area including the town. Apple had used the latter. It was corrected within days.) A week after the release, and with Apple’s maps a laughing stock, Tim Cook – who had now been in unquestioned charge of Apple for a year – surprised the media with an effusive apology posted on the website.

He insisted, as had Rubinstein, that the screen was a tough polycarbonate, the same one that had been used for the fourth-generation iPod (the colour-screen devices launched in June, which were also discontinued the next month with the release of video-capable iPods). The message – problem in one batch, not many calls, same material, concerned users should buy a case – became the only one that Apple would put out. There was no off-the-record nudge and wink, no backroom briefing. Apple had its message and stuck to it. Later in October, during Apple’s quarterly results, chief operating officer Tim Cook was asked about the scratching issue. He sang from exactly the same hymn sheet: ‘We’ve had very, very few calls from customers,’ he said. ‘We don’t believe it’s a widespread issue. It’s made of the same material as the fourth-generation iPods.


pages: 524 words: 130,909

The Contrarian: Peter Thiel and Silicon Valley's Pursuit of Power by Max Chafkin

3D printing, affirmative action, Airbnb, anti-communist, bank run, Bernie Sanders, bitcoin, borderless world, charter city, cloud computing, cognitive dissonance, coronavirus, Covid-19, COVID-19, Credit Default Swap, cryptocurrency, David Brooks, David Graeber, disinformation, don't be evil, Donald Trump, Electric Kool-Aid Acid Test, Elon Musk, Ethereum, Extropian, facts on the ground, Ferguson, Missouri, Frank Gehry, Gordon Gekko, guest worker program, Haight Ashbury, helicopter parent, hockey-stick growth, illegal immigration, immigration reform, Internet Archive, Jeff Bezos, John Markoff, Kickstarter, life extension, Lyft, Marc Andreessen, Mark Zuckerberg, Maui Hawaii, Menlo Park, moral panic, move fast and break things, move fast and break things, Nelson Mandela, Network effects, off grid, offshore financial centre, oil shale / tar sands, open borders, paypal mafia, Peter Thiel, pets.com, Plutocrats, plutocrats, Ponzi scheme, prosperity theology / prosperity gospel / gospel of success, QAnon, quantitative hedge fund, quantitative trading / quantitative finance, randomized controlled trial, regulatory arbitrage, Renaissance Technologies, reserve currency, ride hailing / ride sharing, risk tolerance, Ronald Reagan, Sam Altman, Sand Hill Road, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, skunkworks, software is eating the world, sovereign wealth fund, Steve Bannon, Steve Jobs, Steven Levy, Stewart Brand, surveillance capitalism, TaskRabbit, technology bubble, technoutopianism, Ted Kaczynski, the new new thing, the scientific method, Tim Cook: Apple, transaction costs, Travis Kalanick, Uber and Lyft, uber lyft, Upton Sinclair, We wanted flying cars, instead we got 140 characters, Whole Earth Catalog, WikiLeaks, William Shockley: the traitorous eight, Y Combinator, Y2K, yellow journalism

failed to attract: Owen Thomas, “Peter Thiel’s College Tour,” Valleywag, October 6, 2017, https://gawker.com/308252/peter-thiels-college-tour.gawker.com “but Thiel’s taken”: Owen Thomas “Peter Thiel Crush Alert,” Valleywag, November 27, 2007. out Tim Cook: Owen Thomas, “Is Apple COO Tim Cook Gay?” Valleywag, November 10, 2008, https://web.archive.org/web/20090119085309/http://valleywag.gawker.com/5082473/is-apple-coo-tim-cook-gay. that he was psychologically unstable: Ryan Holiday, Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue (New York: Portfolio, 2018), 31. “Wal-Mart of Banking”: Peter Goodman and Gretchen Morgenson, “Saying Yes, WaMu Built Empire on Shaky Loans,” The New York Times, December 28, 2008, https://www.nytimes.com/2008/12/28/business/28wamu.html.

His closest advisers were there: Bannon, Pence, Priebus, Kushner, Stephen Miller, Ivanka Trump, plus Eric and Don Jr. But the real stars were the CEOs of the United States’ largest and most important tech companies, and their shepherd in all things Trump, Peter Thiel. He sat at Trump’s left elbow, with Pence on the other side. To his left was Apple’s Tim Cook. Arrayed around the table, interspersed between Trump’s advisers and children, was a group that included Facebook’s Sheryl Sandberg and Amazon’s Jeff Bezos, as well as the CEOs of Microsoft, Cisco, Oracle, Intel, and IBM. “These are monster companies,” Trump said, beaming before lavishing praise on Thiel.

Zuckerberg had taught himself Mandarin, and while hosting a top party official, he’d displayed copies of Xi’s book, saying that he’d been presenting them to employees as gifts. The following year, just as Trump’s anti-China rhetoric was propelling him to the front of the Republican field, Zuckerberg was laying it on thick with Xi in person. Over dinner at the White House with the Chinese leader—as well as President Obama, Apple’s Tim Cook, and Microsoft’s Satya Nadella—Zuckerberg, whose wife, Priscilla, was pregnant at the time, asked Xi to give his unborn child an honorary Chinese name. Xi declined. Zuckerberg had bent over backward in 2016 to avoid being seen as anti-conservative, but it was becoming increasingly clear that the conservatives had maneuvered him into helping Trump win the election.


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Matchmakers: The New Economics of Multisided Platforms by David S. Evans, Richard Schmalensee

Airbnb, Alvin Roth, big-box store, business process, cashless society, Chuck Templeton: OpenTable:, creative destruction, Deng Xiaoping, disruptive innovation, if you build it, they will come, information asymmetry, Internet Archive, invention of movable type, invention of the printing press, invention of the telegraph, invention of the telephone, Jean Tirole, John Markoff, Lyft, M-Pesa, market friction, market microstructure, mobile money, multi-sided market, Network effects, Productivity paradox, profit maximization, purchasing power parity, QR code, ride hailing / ride sharing, sharing economy, Silicon Valley, Snapchat, Steve Jobs, Tim Cook: Apple, transaction costs, two-sided market, Uber for X, uber lyft, ubercab, Victor Gruen, winner-take-all economy

A year after launch, out of 100 users, about 17 had ever tried it and out of those 17 just 5 used it when they could.20 Over the course of the year more people got the new iPhone model so that more people in total had Apple Pay set up on their phones and used it when they could. The number of people who probably had Apple Pay on their phones increased from roughly 2.7 million in November 2014 to 11.7 million in October 2015.21 As a result, the likelihood that an American adult would use Apple Pay at a terminal that accepted Apple Pay increased from 0.7 percent in November 2014 to 1.8 percent in October 2015.22 When it planned Apple Pay, the company had reasons to believe that more retailers would have the slick NFC terminals that Tim Cook showed at the September 2014 announcement.

As they make the journey toward the critical mass frontier, how can they know whether they have made a wrong turn and need to adjust, whether they should abandon the trip, or whether they are about to cross the frontier into the growth zone? Let’s follow one of the most successful matchmakers of all time on a recent trek. Chapter 10 Fizzle or Sizzle Making Smart Bets on New Matchmakers Forty-three minutes into the Apple live event, on September 9, 2014, after introducing the new iPhone 6, Tim Cook announced he was going to talk about an “entirely new category of service” for Apple.1 A thick wallet with cash and cards sticking out appeared on the screen behind him. “Our vision is to replace this.” According to Cook, people in the United States “scramble” for their cards about 200 million times a day, and they “go through what is a fairly antiquated payment process.”

When eBay attempted to expand its business into China, it had trouble attracting enough retailers and buyers to interest either side, and it had to give up its expansion plans. Apple Pay Organizes Support In 2014, there was a well-developed ecosystem for consumer payments in the United States. Along with cash and checks, there were credit and debit cards.6 The average person over the age of 18 had 2.4 cards. Many merchants accepted these cards; consumers could pay with them at millions of locations.7 Americans used them a lot, as Tim Cook pointed out: more than 200 million times a day for a total of $4 trillion of purchases a year.8 Debit and credit cards involve three major groups of businesses in the United States and many developed countries.


pages: 120 words: 33,892

The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market by Tobias E. Carlisle

activist fund / activist shareholder / activist investor, business cycle, cognitive dissonance, corporate governance, corporate raider, Jeff Bezos, Paul Graham, Peter Thiel, Richard Thaler, shareholder value, tail risk, Tim Cook: Apple

Carl Icahn wrote an open letter to Apple’s chief executive, Tim Cook. Icahn asked for Apple to return cash through a $150 billion buyback. Icahn wrote in the letter:61 When we met, you agreed with us that the shares are undervalued. In our view, irrational undervaluation as dramatic as this is often a short-term anomaly. The timing for a larger buyback is still ripe, but the opportunity will not last forever. While the board’s actions to date ($60 billion share repurchase over three years) may seem like a large buyback, it is simply not large enough given that Apple currently holds $147 billion of cash on its balance sheet, and that it will generate $51 billion of [operating earnings] next year (Wall Street consensus forecast…With such an enormous valuation gap and such a massive amount of cash on the balance sheet, we find it difficult to imagine why the board would not move more aggressively to buy back stock by immediately announcing a $150 billion tender offer (financed with debt or a mix of debt and cash on the balance sheet).

“iPrefs: Unlocking Value.” Greenlight Capital, 2013. Available at https://www.greenlightcapital.com/905284.pdf. 60 David Einhorn. “iPrefs: Unlocking Value.” Greenlight Capital, 2013. Available at https://www.greenlightcapital.com/905284.pdf. 61 Carl Icahn, Letter to Tim Cook. Available at https://www.cnbc.com/2013/10/24/carl-icahns-letter-to-tim-cook.html 62 Carl C Icahn, Tweet, 11:21 AM, August 14, 2013. Available at https://twitter.com/Carl_C_Icahn/statuses/367350206993399808 63 David Einhorn. “iPrefs: Unlocking Value.” Greenlight Capital, 2013. Available at https://www.greenlightcapital.com/905284.pdf. 64 Carl C Icahn, Tweet, 11:12 AM, 11:13 AM, August 19, 2014.

In early 2013, Einhorn pushed Apple, Inc., then trading at $60, to pay out some of its huge pile of cash. Einhorn said that Apple’s $150 billion in cash was too much for a stock with only $60 billion in fixed assets. Apple could use it to buy “all but 17 companies in the S&P 500.”59 It earned next to no interest. It was better in the hands of shareholders. He said Apple’s stock price was discounted to the value of the cash, about $20 per share. Apple could “unlock significant shareholder value” by cutting the cash on its “bloated balance sheet.”60 Einhorn wasn’t the only activist to complain about Apple’s cash pile.


pages: 501 words: 114,888

The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives by Peter H. Diamandis, Steven Kotler

Ada Lovelace, additive manufacturing, Airbnb, Albert Einstein, Amazon Mechanical Turk, augmented reality, autonomous vehicles, barriers to entry, bitcoin, blockchain, blood diamonds, Burning Man, call centre, cashless society, Charles Lindbergh, Clayton Christensen, clean water, cloud computing, Colonization of Mars, computer vision, creative destruction, crowdsourcing, cryptocurrency, Dean Kamen, delayed gratification, dematerialisation, digital twin, disruptive innovation, Edward Glaeser, Edward Lloyd's coffeehouse, Elon Musk, en.wikipedia.org, epigenetics, Erik Brynjolfsson, Ethereum, ethereum blockchain, experimental economics, food miles, game design, Geoffrey West, Santa Fe Institute, gig economy, Google X / Alphabet X, gravity well, hive mind, housing crisis, Hyperloop, impact investing, indoor plumbing, industrial robot, informal economy, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invention of the telegraph, Isaac Newton, Jaron Lanier, Jeff Bezos, job automation, Joseph Schumpeter, Kevin Kelly, Kickstarter, late fees, Law of Accelerating Returns, life extension, lifelogging, loss aversion, Lyft, M-Pesa, Mary Lou Jepsen, mass immigration, megacity, meta-analysis, microbiome, mobile money, multiplanetary species, Narrative Science, natural language processing, Network effects, new economy, New Urbanism, Oculus Rift, out of africa, packet switching, peer-to-peer lending, Peter H. Diamandis: Planetary Resources, Peter Thiel, QR code, RAND corporation, Ray Kurzweil, RFID, Richard Feynman, Richard Florida, ride hailing / ride sharing, risk tolerance, Satoshi Nakamoto, Second Machine Age, self-driving car, Silicon Valley, Skype, smart cities, smart contracts, smart grid, Snapchat, sovereign wealth fund, special economic zone, stealth mode startup, stem cell, Stephen Hawking, Steve Jobs, Steven Pinker, Stewart Brand, supercomputer in your pocket, supply-chain management, technoutopianism, Tesla Model S, Tim Cook: Apple, transaction costs, Uber and Lyft, uber lyft, unbanked and underbanked, underbanked, urban planning, Watson beat the top human players on Jeopardy!, We wanted flying cars, instead we got 140 characters, X Prize

“it will be about health”: Lizzy Gurdus, “Tim Cook: Apple’s Greatest Contribution Will Be ‘About Health,’ ” CNBC, January 8, 2019. See: https://www.cnbc.com/2019/01/08/tim-cook-teases-new-apple-services-tied-to-health-care.html. Racing Apple are Google, Amazon, Facebook, Samsung, Baidu, Tencent, and others: CB Insights does an excellent job summarizing the big-tech healthcare ecosystem in these two reports: https://www.cbinsights.com/research/top-tech-companies-healthcare-investments-acquisitions/ and https://www.cbinsights.com/research/google-amazon-apple-health-insurance/. DIY Diagnostics Oura ring: See: https://ouraring.com.

AR is projected to create a $90 billion market: “For AR/VR 2.0 to Live, AR/VR 1.0 Must Die,” Digi-Capital, January 15, 2019. See: https://www.digi-capital.com/news/2019/01/for-ar-vr-2-0-to-live-ar-vr-1-0-must-die/. I regard [AR] as a big idea like the smartphone: David Phelan, “Apple CEO Tim Cook: As Brexit Hangs over UK, ‘Times Are Not Really Awful, There’s Some Great Things Happening’,” Independent. See: https://www.independent.co.uk/life-style/gadgets-and-tech/features/apple-tim-cook-boss-brexit-uk-theresa-may-number-10-interview-ustwo-a7574086.html. Nintendo released Pokémon GO: Lauren Munsi, “Pokémon GO Surpasses the 1 Billion Downloads Milestone,” Nintendo Wire, July 31, 2019.

For most of the last century, the healthcare industry was an uneasy partnership between big pharma, big government, and the full spectrum of doctors, nurses, and trained medical professionals. Now we’re witnessing an invasion. Many of the big technology companies are getting into this game, all intent on making an impact. “If you zoom out into the future,” Apple CEO Tim Cook recently said (in that same interview with the Independent where he talked about the potential of AR), “and ask what was Apple’s greatest contribution to mankind, it will be about health.” Racing Apple are Google, Amazon, Facebook, Samsung, Baidu, Tencent, and others. As we shall see in a moment, all of these companies have three clear advantages over the establishment: They’re already in your home, into artificial intelligence, and experts in collecting and analyzing your data.


pages: 402 words: 126,835

The Job: The Future of Work in the Modern Era by Ellen Ruppel Shell

3D printing, affirmative action, Affordable Care Act / Obamacare, Airbnb, airport security, Albert Einstein, Amazon Mechanical Turk, basic income, Baxter: Rethink Robotics, big-box store, blue-collar work, Buckminster Fuller, call centre, Capital in the Twenty-First Century by Thomas Piketty, Clayton Christensen, cloud computing, collective bargaining, computer vision, corporate governance, corporate social responsibility, creative destruction, crowdsourcing, deskilling, disruptive innovation, Donald Trump, Downton Abbey, Elon Musk, Erik Brynjolfsson, factory automation, follow your passion, Frederick Winslow Taylor, future of work, game design, glass ceiling, hiring and firing, immigration reform, income inequality, independent contractor, industrial robot, invisible hand, Jeff Bezos, job automation, job satisfaction, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Kickstarter, knowledge economy, knowledge worker, Kodak vs Instagram, labor-force participation, low skilled workers, Lyft, manufacturing employment, Marc Andreessen, Mark Zuckerberg, means of production, move fast and break things, move fast and break things, new economy, Norbert Wiener, obamacare, offshore financial centre, Paul Samuelson, precariat, Ralph Waldo Emerson, risk tolerance, Robert Gordon, Robert Shiller, Robert Shiller, Rodney Brooks, Ronald Reagan, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Snapchat, Steve Jobs, The Chicago School, The Theory of the Leisure Class by Thorstein Veblen, Thomas L Friedman, Thorstein Veblen, Tim Cook: Apple, Uber and Lyft, uber lyft, universal basic income, urban renewal, WeWork, white picket fence, working poor, Y Combinator, young professional, zero-sum game

“Bringing high-volume electronics” Kenneth Kraemer, Greg Linden, and Jason Dedrick, “Capturing Value in Global Networks: Apple’s iPad and iPhone,” Personal Computing Industry Center, University of California, Irvine, and Syracuse University School of Information Studies, July 2011, http://pcic.merage.uci.edu/​papers/​2011/​Value_iPad_iPhone.pdf. jobs for Apple engineers, marketers, and sales staff Apple CEO Tim Cook claims that the company has created “two million” American jobs (https://apple.com/​newsroom/​2018/​01/​apple-accelerates-us-investment-job-creation), but only eighty thousand of the holders of these jobs are actual Apple employees. Almost 1.5 million are members of what he describes as the “developer community” who write the apps he says have “changed the world.”

Spence, “Job Market Signalling,” Quarterly Journal of Economics 87, no. 3 (1973): 355–74. “he more nearly resembles” Frederick Winslow Taylor, The Principles of Scientific Management (New York: Harper, 1911), 59. “began to stop having as many vocational kinds of skills” Shawn Langlois, “Tim Cook Says This Is the Real Reason Apple Products Are Made in China,” MarketWatch, December 21, 2015, http://www.marke­twatch.com/​story/​tim-cook-apple-doesnt-make-its-products-in-china-because-its-cheaper-2015-12-20. a significant “negative impact” factor on their bottom line “The Boiling Point? The Skills Gap in the United States,” Deloitte and Manufacturing Institute, 2011, http://www.theman­ufacturi­nginsti­tute.org/​~/​media/​A07730B2A7­98437D985­01E798C­2E13AA.ashx.

Given the rapid advances in factory automation, it’s unclear just how many people should be trained up for jobs in mass manufacturing, no matter how “advanced.” In May 2017, Apple CEO Tim Cook announced a $1 billion advanced-manufacturing fund to bolster US manufacturers by offering skills training, such as teaching people to write code to create apps. But the announcement came with a caveat: the cost of this program would be paid with “US money which we have to borrow to get.” Cook was intentionally reminding us that a substantial portion of Apple’s cash holdings is registered overseas and cannot be used in the United States unless repatriated under the US tax code, triggering the collection of income tax. Apple has kept earnings abroad and has borrowed money from its own foreign subsidiaries to pay dividends and make new investments.


pages: 444 words: 127,259

Super Pumped: The Battle for Uber by Mike Isaac

"side hustle", activist fund / activist shareholder / activist investor, Airbnb, Albert Einstein, always be closing, Amazon Web Services, Andy Kessler, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Bay Area Rapid Transit, Burning Man, call centre, Chris Urmson, Chuck Templeton: OpenTable:, citizen journalism, Clayton Christensen, cloud computing, corporate governance, creative destruction, don't be evil, Donald Trump, Elon Musk, family office, gig economy, Google Glasses, Google X / Alphabet X, high net worth, hockey-stick growth, hustle culture, impact investing, Jeff Bezos, John Markoff, Kickstarter, Lyft, Marc Andreessen, Mark Zuckerberg, mass immigration, Menlo Park, Mitch Kapor, money market fund, moral hazard, move fast and break things, move fast and break things, Network effects, new economy, off grid, peer-to-peer, pets.com, Richard Florida, ride hailing / ride sharing, Sand Hill Road, self-driving car, shareholder value, Shenzhen special economic zone , side project, Silicon Valley, Silicon Valley startup, skunkworks, Snapchat, software as a service, software is eating the world, South China Sea, South of Market, San Francisco, sovereign wealth fund, special economic zone, Steve Bannon, Steve Jobs, super pumped, TaskRabbit, the payments system, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, ubercab, union organizing, upwardly mobile, WeWork, Y Combinator

He and a few close colleagues helped to orchestrate some of the drug busts in New York, limited widespread fraud in China, and helped repair other areas in which Uber was bleeding money and facing liabilities. He was valuable. When he started in March 2014, Quentin’s team faced a very specific headache. Two years earlier, Apple released a version of its iOS mobile software that killed outside access to the unique identification number of every iPhone, the so-called IMEI number, or “international mobile equipment identity” number. The update was a hallmark of Tim Cook’s Apple. Unlike its rivals Google, Facebook, and Amazon, Apple’s business didn’t rely on hoovering up personal data from its customers. Facebook and Google were advertising companies, and as such relied on discovering every digital detail of its customers’ lives in order to target them with ads.

Uber’s method of identifying fraudsters made use of digital surveillance techniques common to Silicon Valley’s largest companies. That practice ran against some of Apple’s long-espoused principles, specifically an individual’s right to privacy. Steve Jobs had valued consumer privacy, but his successor, Tim Cook, was a fanatic. He believed Apple’s users should have complete control of their private digital lives. And if an Apple customer decided to wipe their iPhone clean of data, no one else—individuals, family members, companies, law enforcement—should be able to find a trace of that data on the device afterwards.

Should they address the issue with the public? And what if Apple started snooping around? Uber had recently submitted their newest iOS app build. What were they supposed to tell Apple if they found out Uber was breaking the rules? At first, nothing happened. But a few weeks later they got their answer: the App Store declined Uber’s latest software update. Quentin’s team had been caught. As the man in charge of the App Store, Eddy Cue had seen the best—and worst—of the startup world. Eddy Cue reported directly to Apple CEO Tim Cook, and no one else. He was the guy who saw rising startup stars before nearly anyone else in Silicon Valley, because their apps skyrocketed to the top of his charts.


pages: 380 words: 109,724

Don't Be Evil: How Big Tech Betrayed Its Founding Principles--And All of US by Rana Foroohar

"side hustle", accounting loophole / creative accounting, Airbnb, algorithmic bias, AltaVista, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, Bernie Sanders, bitcoin, book scanning, Brewster Kahle, Burning Man, call centre, cashless society, cleantech, cloud computing, cognitive dissonance, Colonization of Mars, computer age, corporate governance, creative destruction, Credit Default Swap, cryptocurrency, data is the new oil, death of newspapers, Deng Xiaoping, disinformation, disintermediation, don't be evil, Donald Trump, drone strike, Edward Snowden, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Etonian, Filter Bubble, future of work, game design, gig economy, global supply chain, Gordon Gekko, greed is good, income inequality, independent contractor, informal economy, information asymmetry, intangible asset, Internet Archive, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, job satisfaction, Kenneth Rogoff, life extension, light touch regulation, Lyft, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, Menlo Park, move fast and break things, move fast and break things, Network effects, new economy, offshore financial centre, PageRank, patent troll, paypal mafia, Peter Thiel, pets.com, price discrimination, profit maximization, race to the bottom, recommendation engine, ride hailing / ride sharing, Robert Bork, Sand Hill Road, search engine result page, self-driving car, shareholder value, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, smart cities, Snapchat, South China Sea, sovereign wealth fund, Steve Bannon, Steve Jobs, Steven Levy, subscription business, supply-chain management, surveillance capitalism, TaskRabbit, Telecommunications Act of 1996, The Chicago School, the new new thing, Tim Cook: Apple, too big to fail, Travis Kalanick, trickle-down economics, Uber and Lyft, Uber for X, uber lyft, Upton Sinclair, WeWork, WikiLeaks, zero-sum game

And to be fair, some companies, including Apple and, more recently, Google, are trying to get out in front of such efforts, by making tweaks to their own devices and systems that make it easier for people to track and limit their own technology usage. In 2018, in a speech to EU officials, Apple CEO Tim Cook admitted that there was, and is, a serious dark side to the Big Tech revolution. “We shouldn’t sugar-coat the consequences. This is surveillance. And these stockpiles of personal data only serve to enrich the companies that collect them.” Earlier that year, he admitted that he himself—like many Apple users—was spending way too much time on his phone, and that this was a problem.

In a speech at a European privacy commissioners conference in late October 2018, Apple CEO Tim Cook decried the “data industrial complex” made up of companies (including Google and Facebook) that make the vast majority of their money by keeping people online for as long as possible in order to garner as much of their personal data as possible. “Our own information—from the everyday to the deeply personal—is being weaponized against us with military efficiency,” said Cook, whose own company still makes most of its money from hardware. Apple has its own issues—from tax offshoring to legal battles over intellectual property infringement, which we will explore later.

Rana Foroohar, “Vivienne Ming: ‘The Professional Class Is About to Be Blindsided by AI,” Financial Times, July 27, 2018. 69. Sam Levin, “Facebook Told Advertisers It Can Identify Teens Feeling ‘Insecure’ and ‘Worthless,’ ” The Guardian, May 1, 2017. 70. Foroohar, “All I Want for Christmas Is a Digital Detox.” 71. Emily Bary, “Apple Never Meant for You to Spend So Much Time on Your Phone, Tim Cook Says,” MarketWatch, June 27, 2019. 72. Olivia Solon, “Ex-Facebook President Sean Parker: Site Made to Exploit Human ‘Vulnerability,’ ” The Guardian, November 9, 2017. Chapter 2: The Valley of the Kings 1. Rana Foroohar and Edward Luce, “Privacy as a Competitive Advantage,” Financial Times, October 16, 2017. 2.


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The Attention Merchants: The Epic Scramble to Get Inside Our Heads by Tim Wu

1960s counterculture, Affordable Care Act / Obamacare, AltaVista, Andrew Keen, anti-communist, Apple II, Apple's 1984 Super Bowl advert, barriers to entry, Bob Geldof, borderless world, Brownian motion, Burning Man, Cass Sunstein, citizen journalism, colonial rule, East Village, future of journalism, George Gilder, Golden Gate Park, Googley, Gordon Gekko, Herbert Marcuse, housing crisis, informal economy, Internet Archive, Jaron Lanier, Jeff Bezos, jimmy wales, Live Aid, Mark Zuckerberg, Marshall McLuhan, McMansion, Nate Silver, Network effects, Nicholas Carr, placebo effect, post scarcity, race to the bottom, road to serfdom, Saturday Night Live, science of happiness, self-driving car, side project, Silicon Valley, slashdot, Snapchat, Steve Jobs, Steve Wozniak, Steven Levy, Ted Nelson, telemarketer, the built environment, The Chicago School, the scientific method, The Structural Transformation of the Public Sphere, Tim Cook: Apple, Torches of Freedom, Upton Sinclair, upwardly mobile, white flight, Yochai Benkler, zero-sum game

Matthew Panzarino, “Apple’s Tim Cook Delivers Blistering Speech on Encryption, Privacy,” TechCrunch, June 2, 2015, http://techcrunch.com/​2015/​06/​02/​apples-tim-cook-delivers-blistering-speech-on-encryption-privacy/. 2. Ibid. 3. Tim Cook, “Apple’s Commitment to Your Privacy,” Apple, http://www.apple.com/​privacy/. 4. Robin Anderson, Consumer Culture and TV Programming (Boulder, CO: Westview Press, 1995). 5. Richard Serra and Carlota Fay Schoolman, “Television Delivers People,” Persistence of Vision—Volume 1: Monitoring the Media (1973), video. 6. Farhad Manjoo, “What Apple’s Tim Cook Overlooked in His Defense of Privacy,” New York Times, June 10, 2015, http://www.nytimes.com/​2015/​06/​11/​technology/​what-apples-tim-cook-overlooked-in-his-defense-of-privacy.html?

Farhad Manjoo, “What Apple’s Tim Cook Overlooked in His Defense of Privacy,” New York Times, June 10, 2015, http://www.nytimes.com/​2015/​06/​11/​technology/​what-apples-tim-cook-overlooked-in-his-defense-of-privacy.html?_r=0. 7. Lev Grossman, “Inside Facebook’s Plan to Wire the World,” Time, December 15, 2014, http://time.com/​facebook-world-plan/. 8. iOS Developer Library, “What’s New in Safari,” Apple, https://developer.apple.com/​library/​ios/​releasenotes/​General/​WhatsNewInSafari/​Articles/​Safari_9.html [website is no longer active]. 9. Joshua Benton, “A Blow for Mobile Advertising: The Next Version of Safari Will Let Users Block Ads on iPhones and iPads,” NiemanLab, June 10, 2015, http://www.niemanlab.org/​2015/​06/​a-blow-for-mobile-advertising-the-next-version-of-safari-will-let-users-block-ads-on-iphones-and-ipads/. 10.

But the word became widely used in 2013 after Netflix began releasing the full seasons at once, prompting the Oxford Dictionary to add it to the language and also short-list it as “Word of the Year” (the ultimate winner was “selfie”). CHAPTER 28 WHO’S BOSS HERE? On June 1, 2015, Tim Cook, CEO of Apple, the world’s most valuable company, gave a speech at the annual dinner of a small Washington nonprofit named EPIC, the Electronic Privacy Information Center. Apple’s leaders almost never give speeches in Washington, making Cook’s appearance something of a surprise; though to be fair, he didn’t actually show up at the dinner, but rather videoconferenced his way in. All the same, even more surprising was what he had to say.


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The Perfect Weapon: War, Sabotage, and Fear in the Cyber Age by David E. Sanger

active measures, autonomous vehicles, Bernie Sanders, bitcoin, British Empire, call centre, Cass Sunstein, Chelsea Manning, computer age, cryptocurrency, cuban missile crisis, disinformation, Donald Trump, drone strike, Edward Snowden, Google Chrome, Google Earth, Jacob Appelbaum, John Markoff, Mark Zuckerberg, MITM: man-in-the-middle, mutually assured destruction, RAND corporation, ransomware, Sand Hill Road, Silicon Valley, Silicon Valley ideology, Skype, South China Sea, Steve Bannon, Steve Jobs, Steven Levy, Stuxnet, Tim Cook: Apple, too big to fail, undersea cable, uranium enrichment, Valery Gerasimov, WikiLeaks, zero day

Spy Agencies,” Washington Post, November 20, 2017, www.washingtonpost.com/news/business/wp/2017/11/20/amazon-launches-new-cloud-storage-service-for-u-s-spy-agencies/?utm_term=.8dcf7ac21a9f. Cook’s social and political intuition: Todd Frankel, “The Roots of Tim Cook’s Activism Lie in Rural Alabama,” Washington Post, March 7, 2016, www.washingtonpost.com/news/the-switch/wp/2016/03/07/in-rural-alabama-the-activist-roots-of-apples-tim-cook/?utm_term=.5f670fd2354d. “more than 5½ years”: Computer-security experts question that figure, because Apple does not fully realize how quickly the NSA’s supercomputers can crack codes. the agency developed the “Clipper chip”: Steven Levy, “Battle of the Clipper Chip,” New York Times, June 12, 1994, www.nytimes.com/1994/06/12/magazine/battle-of-the-clipper-chip.html.

But the real irony was that as tech firms publicly protested the NSA’s intrusions into their networks—Microsoft, IBM, and AT&T among them—they were privately vying for the hugely profitable business of managing the intelligence community’s data. * * * — Tim Cook, the quiet, almost ascetic chief executive of Apple, rose in the company as a counterweight to Steve Jobs. Jobs was the showman, Cook the understated strategist. Jobs erupted when products didn’t look right or politics limited the ideal technological solution; Cook lacked Jobs’s intuitive sense of what made a product feel distinctly like an Apple product, but what he lacked as a designer he made up for with his considerable geopolitical sensibility. Whereas Jobs was no ideologue and rarely dug deeply into the question of Apple’s place in society, Cook seemed as comfortable making a civil-liberties argument as a technological one.

If it wouldn’t be tolerated in the physical world, he said, why should it be tolerated in the digital world? From the other coast, Tim Cook had an answer: the apartment keys and trunk keys belonged to the owner of the apartment and the car, not to the manufacturer of their locks. “It’s our job to provide you with the tools to lock up your stuff,” Cook said. At Apple and Google, company executives told me that Washington had brought these changes on themselves. Because the NSA had failed to police their own insiders, the world was demanding that Apple prove their data was secure, and it was up to Apple to do so. Naturally the government saw this as a deliberate dodge.


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How Boards Work: And How They Can Work Better in a Chaotic World by Dambisa Moyo

activist fund / activist shareholder / activist investor, Airbnb, algorithmic trading, Amazon Web Services, asset allocation, barriers to entry, Ben Horowitz, bitcoin, blockchain, Boeing 737 MAX, Bretton Woods, business cycle, business process, buy and hold, call centre, capital controls, carbon footprint, collapse of Lehman Brothers, coronavirus, corporate governance, corporate social responsibility, Covid-19, COVID-19, creative destruction, cryptocurrency, deglobalization, don't be evil, Donald Trump, gender pay gap, gig economy, glass ceiling, global pandemic, global supply chain, hiring and firing, income inequality, index fund, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Jeff Bezos, knowledge economy, labor-force participation, long term incentive plan, Lyft, money: store of value / unit of account / medium of exchange, Network effects, new economy, old-boy network, Pareto efficiency, passive investing, remote working, Ronald Coase, Savings and loan crisis, shareholder value, Shoshana Zuboff, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, sovereign wealth fund, surveillance capitalism, The Nature of the Firm, Tim Cook: Apple, too big to fail, trade route, Travis Kalanick, uber lyft, Vanguard fund, Washington Consensus, WeWork, women in the workforce

Some corporations launched public initiatives to help Black people progress within their company ranks, while others created multimillion-dollar funds that target minorities. On June 3, 2020, Goldman Sachs established a $10 million fund to help address racial and economic injustice. SoftBank, a Japanese company focused on technology, launched a $100 million fund to invest in start-ups led by Black Americans and people of color. CEO Tim Cook announced the investment of $100 million in Apple’s racial equity and justice initiative. Beyond this, many executives spoke of the need to educate themselves about the realities of daily racial injustice. However, the global nature and scale of the demonstrations mean that corporations must move from large proclamations and statements to actions—from tell to show.

Global technological tensions and competition necessarily throw up questions of surveillance, counterterrorism, and regulatory creep. Boards and management often find these to be among the hardest questions to answer, as they can pit moral and ethical views against the imperative to grow the business and achieve commercial success. Take the matter of data use. At a conference in Orlando, Florida, in 2019, Tim Cook, the CEO of Apple, declared data privacy to be the most important issue of the century. Western society assumes that an individual’s personal information is theirs and theirs alone and should be protected. This notion was enshrined in the European Union’s 2016 General Data Protection Regulation (GDPR), which forced companies to reevaluate their data management.

May 6, 2019. https://tax.thomsonreuters.com/news/chairman-clayton-companies-should-provide-more-disclosure-on-human-capital-management/. Thorndike, William, Jr. The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success. Boston: Harvard Business School Publishing, 2012. 350.org. “About 350.” https://350.org/about/. Tibken, Shara. “Tim Cook Says Some Tech Regulation Likely Needs to Happen.” CNET, October 2, 2018. www.cnet.com/news/tim-cook-talks-privacy-regulation-congress-alex-jones-china-during-interview/. Tonello, Matteo. “Separation of Chair and CEO Roles.” Harvard Law School Forum on Corporate Governance, September 1, 2001. https://corpgov.law.harvard.edu/2011/09/01/separation-of-chair-and-ceo-roles/.


pages: 382 words: 92,138

The Entrepreneurial State: Debunking Public vs. Private Sector Myths by Mariana Mazzucato

"Robert Solow", Apple II, banking crisis, barriers to entry, Bretton Woods, business cycle, California gold rush, call centre, carbon footprint, Carmen Reinhart, cleantech, computer age, creative destruction, credit crunch, David Ricardo: comparative advantage, demand response, deskilling, endogenous growth, energy security, energy transition, eurozone crisis, everywhere but in the productivity statistics, Financial Instability Hypothesis, full employment, G4S, Growth in a Time of Debt, Hyman Minsky, incomplete markets, information retrieval, intangible asset, invisible hand, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, knowledge economy, knowledge worker, linear model of innovation, natural language processing, new economy, offshore financial centre, Philip Mirowski, popular electronics, Post-Keynesian economics, profit maximization, Ralph Nader, renewable energy credits, rent-seeking, ride hailing / ride sharing, risk tolerance, shareholder value, Silicon Valley, Silicon Valley ideology, smart grid, Steve Jobs, Steve Wozniak, The Wealth of Nations by Adam Smith, Tim Cook: Apple, too big to fail, total factor productivity, trickle-down economics, Washington Consensus, William Shockley: the traitorous eight

Lewis, J. 2007. ‘Technology Acquisition and Innovation in the Developing World: Wind Turbine Development in China and India’. Studies in Comparative International Development 32, nos. 3–4: 208–32. Liedtke, M. 2012. ‘Apple Cash: CEO Tim Cook Says Company Has More Than It Needs’. Huffington Post, 23 February. Available online at http://www.huffingtonpost.com/2012/02/23/apple-cash-ceo-tim-cook_n_1297897.html?view=print&comm_ref=false (accessed 19 July 2012). Lim, B. and S. Rabinovitch. 2010. ‘China Mulls $1.5 Trillion Strategic Industries Boost: Sources’. Reuters, 3 December. Available online at http://www.reuters.com/article/2010/12/03/us-china-economy-investmentidUSTRE6B16U920101203 (accessed 24 July 2012).

To put this in greater perspective, the average employee at Foxconn earns $4,622 annually, meaning the top 9 executives earned the same amount of money as 95,000 workers did in 2011 and 89,000 workers did in 2012. Borrowing the method that Shapiro used, one could factor that the top 9 Apple executives are expected to earn the same amount of money as roughly 17,600 of the company’s US retail employees did in 2011 (64 per cent of the total) and 15,000 (55 per cent of the total) in 2012 (Shapiro 2012).2 When Apple’s CEO, Tim Cook, announced in February 2012 that the company has more cash ($98 billion) than it currently needs to sustain its operations, many analysts and shareholders expected Apple to return a portion of its record-high cash to its shareholders (Liedtke 2012). The top executives were intrigued by the question of what to do with the excess sitting cash, since the company had not been distributing dividends or repurchasing its own stocks during Steve Jobs’ tenure.

‘Display’s the Thing: The Real Stakes in the Conflict over High Resolution Displays’. Berkeley Roundtable on the International Economy (BRIE) Working Paper no. 52. Available online at http://brie.berkeley.edu/publications/WP%2052.pdf (accessed 24 January 2013). Haslam, K. 2012. ‘Tim Cook’s Disastrous First Appointment as CEO’. Macworld, 30 October. Available online at http://www.macworld.co.uk/apple-business/news/?newsid=3407940&pagtype=allchandate (accessed 22 January 2013). Henderson, J. 2004. ‘UT Professor, 81, Is Mired in Patent Lawsuit’. Houston Chronicle, 5 June. Available online at http://www.chron.com/default/article/UT-professor-81-is-mired-in-patent-lawsuit-1662323.php (accessed 11 February 2013).


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Samsung Rising: The Inside Story of the South Korean Giant That Set Out to Beat Apple and Conquer Tech by Geoffrey Cain

Apple's 1984 Super Bowl advert, Asian financial crisis, autonomous vehicles, Berlin Wall, business intelligence, cloud computing, corporate governance, creative destruction, don't be evil, Donald Trump, double helix, Dynabook, Elon Musk, fear of failure, independent contractor, Internet of things, John Markoff, Jony Ive, Kickstarter, Mahatma Gandhi, Mark Zuckerberg, megacity, Mikhail Gorbachev, Nelson Mandela, patent troll, rolodex, shareholder value, Silicon Valley, Silicon Valley startup, Skype, Steve Jobs, Superbowl ad, Tim Cook: Apple, too big to fail, WikiLeaks, wikimedia commons

Jobs was prepared to sue. Tim Cook, as Apple’s supply chain expert, was wary of endangering the relationship with a supplier that Apple depended on. When Jay Lee visited the Cupertino campus, Jobs and Cook expressed their concerns to him. Apple drafted a proposal to license some of its patents to Samsung for $30 per smartphone and $40 per tablet, with a 20 percent discount for cross-licensing Samsung’s portfolio back to Apple. For 2010 that revenue would have come to $250 million. In the end, Samsung’s lawyers reversed the offer. Since Apple was copying Samsung’s patents, they argued, Apple had to pay Samsung.

The commercial was more a brand-building exercise than an effort to sell more phones, poking fun at Apple’s lawsuit. Samsung was riding a powerful wave of positive publicity. Forbes described the ad as “a barrage of not-so-subtle jabs at competitor Apple Inc.” Phil Schiller, Apple’s senior vice president for marketing, was livid at Samsung’s marketing campaign. He shot an email to Apple’s ad agency, TBWA\Chiat\Day, with a link to the Wall Street Journal article. “We have a lot of work to do to turn this around,” he wrote. He emailed Apple CEO Tim Cook that Apple “may need to start a search for a new agency.” “We feel it too and it hurts,” wrote an advertising executive at TBWA back to Schiller.

She later decided that the jury had miscalculated Samsung’s damages and cut Apple’s award down to $600 million. The legal war between the two companies, however, was far from over. A second trial between Apple and Samsung was already in the works. Samsung took home some legal victories as well in the UK, Japan, and South Korea. * * * — ON THE MORNING OF September 12, 2012, Apple CEO Tim Cook took the stage in Cupertino for his first product launch as successor to the late Steve Jobs. “Today we’re taking it to the next level,” he said. After years of waiting to deliver something dramatically new, Apple was releasing the iPhone 5.


Deep Value by Tobias E. Carlisle

activist fund / activist shareholder / activist investor, Andrei Shleifer, availability heuristic, backtesting, business cycle, buy and hold, corporate governance, corporate raider, creative destruction, Daniel Kahneman / Amos Tversky, discounted cash flows, fixed income, intangible asset, John Bogle, joint-stock company, margin call, passive investing, principal–agent problem, Richard Thaler, risk free rate, riskless arbitrage, Robert Shiller, Robert Shiller, Rory Sutherland, shareholder value, Sharpe ratio, South Sea Bubble, statistical model, The Myth of the Rational Market, The Wealth of Nations by Adam Smith, Tim Cook: Apple

Applied Deep Value 207 Einhorn argued that, at a 10 percent cost of capital, the cash represented an opportunity cost of close to $13.7 billion per year, or $14 in earnings per share. His solution was for Apple to issue to existing shareholders “iPrefs”— high-yielding preference shares—which, said Einhorn, would allow Apple to “unlock significant shareholder value” by reducing the cash on its “bloated balance sheet.”18 He wasn’t the only activist to complain about Apple’s huge cash stockpile. Shortly after Einhorn unveiled his idea at the Ira W. Sohn Conference, Icahn would also propose in an open letter to Tim Cook, Apple’s CEO, that Apple return cash through a $150 billion buyback:19 When we met, you agreed with us that the shares are undervalued.

If no activist emerges to improve the unexploited intrinsic value, other corrective forces act on the market price to generate excellent returns in the meantime. The coda to Einhorn’s and Icahn’s campaigns to have Apple pay out $150 billion in excess capital clearly demonstrates the power of this idea. After both had prodded Apple for 6 months, writing letters and meeting with Apple chief executive Tim Cook, Apple initiated a buyback in 2013. By February 2014 it had repurchased $40 billion of stock, a record amount for any company over a 12-month span.21 Shortly afterward, Icahn withdrew his plan to have the company undertake the bigger buyback he had proposed, writing in an open letter to Apple shareholders, “We see no reason to persist with our nonbinding proposal, especially when the company is already so close to fulfilling our requested repurchase target.”22 After Icahn had withdrawn his plan, Apple announced in April that it would in fact 210 DEEP VALUE return $130 billion in capital through an increased buyback and a hike in its dividend.

Greenlight Capital, 2013. Available at https://www.greenlightcapital.com/905284.pdf. 17. Ibid. 18. Ibid. 19. Carl Icahn, “Letter to Tim Cook.” Icahn Enterprises, October 8, 2013. Available at http://www.scribd.com/doc/178753981/Carl-Icahn-s-Letter-To-Apple-s-Tim-Cook. 20. Einhorn, 2013. 21. David Benoit. “Icahn Ends Apple Push With Hefty Paper Profit.” The Wall Street Journal, February 10, 2014. Applied Deep Value 215 22. Steven Russolillo. “Carl Icahn: ‘Agree Completely’ With Apple’s Bigger Buyback.” The Wall Street Journal, April 23, 2014. 23. Benoit, 2014. 24. Benjamin Graham and David Dodd. Security Analysis.


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Success and Luck: Good Fortune and the Myth of Meritocracy by Robert H. Frank

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, Amazon Mechanical Turk, American Society of Civil Engineers: Report Card, attribution theory, availability heuristic, Branko Milanovic, Capital in the Twenty-First Century by Thomas Piketty, carried interest, Daniel Kahneman / Amos Tversky, David Brooks, deliberate practice, en.wikipedia.org, endowment effect, experimental subject, framing effect, full employment, hindsight bias, If something cannot go on forever, it will stop - Herbert Stein's Law, income inequality, invisible hand, labor-force participation, lake wobegon effect, loss aversion, minimum wage unemployment, Network effects, Paul Samuelson, Report Card for America’s Infrastructure, Richard Thaler, Rod Stewart played at Stephen Schwarzman birthday party, Ronald Reagan, Rory Sutherland, selection bias, side project, sovereign wealth fund, Steve Jobs, The Wealth of Nations by Adam Smith, Tim Cook: Apple, ultimatum game, Vincenzo Peruggia: Mona Lisa, winner-take-all economy

Adam Smith, The Wealth of Nations, part 4, section 3, Library of Economics and Liberty, http://www.econlib.org/library/Smith/smWN.html. 8. Adam Satariano, Peter Burrows, and Brad Stone, “Scott Forstall, the Sorcerer’s Apprentice at Apple,” Bloomberg Business, October 12, 2011, http://www.bloomberg.com/bw/magazine/scott-forstall-the-sorcerers-apprentice-at-apple-10122011.html. 9. Jay Yarrow, “Tim Cook: Why I Fired Scott Forstall,” Business Insider, December 6, 2012, http://www.businessinsider.com/tim-cook-why-i-fired-scott-forstall-2012–12. 10. Robert D. Putnam, Our Kids: The American Dream in Crisis, New York: Simon and Shuster, 2015. 11. M. A. Fox, B. A. Connolly, and T.

Yet few press accounts of him during his heyday at the company failed to mention that he was unusually ambitious. According to Bloomberg Business, some associates described him off the record as someone who “routinely takes credit for collaborative successes, deflects blame for mistakes.”8 When Forstall was dismissed in October 2012, Apple CEO Tim Cook explained that the move was necessary to preserve the company’s collaborative culture.9 Does willingness to acknowledge the contributions of others—to admit that your success stemmed in part from what others did—affect your attractiveness as a teammate? My experience with former Fed chairman Ben Bernanke, with whom I had the privilege of coauthoring an introductory economics textbook, suggests that it does.

Perceptions that someone is “too ambitious” may sometimes be rooted in jealousy or envy, but unusually ambitious individuals can threaten team cohesion even in the absence of such emotions. Many believe, for example, that former Apple senior vice president Scott Forstall was discharged from his post for that reason. Forstall had been the chief architect of the iOS operating system that powers the iPhone and iPad, whose meteoric sales growth made Apple the most profitable company in history. He had been the longtime protégé of Apple cofounder Steve Jobs, was universally acknowledged as an extraordinary engineering talent, and was sometimes mentioned as a potential future Apple CEO. Yet few press accounts of him during his heyday at the company failed to mention that he was unusually ambitious.


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Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy by Cathy O'Neil

Affordable Care Act / Obamacare, algorithmic bias, Bernie Madoff, big data - Walmart - Pop Tarts, call centre, carried interest, cloud computing, collateralized debt obligation, correlation does not imply causation, Credit Default Swap, credit default swaps / collateralized debt obligations, crowdsourcing, disinformation, Emanuel Derman, Financial Modelers Manifesto, housing crisis, I will remember that I didn’t make the world, and it doesn’t satisfy my equations, Ida Tarbell, illegal immigration, Internet of things, late fees, mass incarceration, medical bankruptcy, Moneyball by Michael Lewis explains big data, new economy, obamacare, Occupy movement, offshore financial centre, payday loans, peer-to-peer lending, Peter Thiel, Ponzi scheme, prediction markets, price discrimination, quantitative hedge fund, Ralph Nader, RAND corporation, recommendation engine, Rubik’s Cube, Sharpe ratio, statistical model, Tim Cook: Apple, too big to fail, Unsafe at Any Speed, Upton Sinclair, Watson beat the top human players on Jeopardy!, working poor

“In terms of business competitiveness”: Businessweek Archives, “Same Sex Benefits: Where IBM Goes, Others May Follow,” Bloomberg Business, October 6, 1996, www.​bloomberg.​com/​bw/​stories/​1996-​10-​06/same-​sex-​benefits-​where-​ibm-​goes-​others-​may-​follow. a gay man, Tim Cook: Timothy Donald Cook, “Tim Cook Speaks Up,” Bloomberg Business, October 30, 2014, www.​bloomberg.​com/​news/​articles/​2014-​10-​30/​tim-​cook-​speaks-​up. Apple, the most valuable company: Verne Kopytoff, “Apple: The First $700 Billion Company,” Fortune, February 10, 2015, http://​fortune.​com/​2015/​02/​10/​apple-​the-​first-​700-​billion-​company/. In 1907 alone, 3,242 miners died: MSHA, “Coal Fatalities for 1900 Through 2014,” US Department of Labor, accessed January 9, 2016, www.​msha.​gov/​stats/​centurystats/​coalstats.​asp.

Since then, gays and lesbians have registered impressive progress in many domains. This progress is uneven, of course. Many gay, lesbian, and transgender Americans are still victims of prejudice, violence, and WMDs. This is especially true among poor and minority populations. Still, as I write this, a gay man, Tim Cook, is the chief executive of Apple, the most valuable company on earth. And if he so chooses, he has the constitutional right to marry a man. Now that we’ve seen how corporations can move decisively to right a wrong in their hiring algorithms, why can’t they make similar adjustments to the mathematical models wreaking havoc on our society, the WMDs?

By doing this, we have unwittingly built the greatest-ever training corpus for natural-language machines. As we turned from paper to e-mail and social networks, machines could study our words, compare them to others, and gather something about their context. The progress has been fast and dramatic. As late as 2011, Apple underwhelmed most of techdom with its natural-language “personal assistant,” Siri. The technology was conversant only in certain areas, and it made laughable mistakes. Most people I know found it near useless. But now I hear people talking to their phones all the time, asking for the weather report, sports scores, or directions.


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Technically Wrong: Sexist Apps, Biased Algorithms, and Other Threats of Toxic Tech by Sara Wachter-Boettcher

Airbnb, airport security, algorithmic bias, AltaVista, big data - Walmart - Pop Tarts, Donald Trump, Ferguson, Missouri, Firefox, Grace Hopper, hockey-stick growth, independent contractor, job automation, Kickstarter, lifelogging, Mark Zuckerberg, Menlo Park, microaggression, move fast and break things, move fast and break things, natural language processing, pattern recognition, Peter Thiel, recommendation engine, ride hailing / ride sharing, self-driving car, Silicon Valley, Silicon Valley startup, Snapchat, Steve Jobs, Tactical Technology Collective, Tim Cook: Apple, Travis Kalanick, upwardly mobile, women in the workforce, zero-sum game

Amélie Lamont, “Not a Black Chair,” Medium, March 14, 2016, https://medium.com/@amelielamont/not-a-black-chair-8a8e7e2b9140#.gpk28w3fp. 3. Erica Joy, “The Other Side of Diversity,” Medium, November 4, 2014, https://medium.com/this-is-hard/the-other-side-of-diversity-1bb3de2f053e#.xn7th3cbt. 4. Megan Rose Dickey, “Apple’s Tim Cook on Latest Diversity Numbers: There’s ‘a Lot More Work to be Done,’” TechCrunch, August 13, 2015, https://techcrunch.com/2015/08/13/apples-tim-cook-on-latest-diversity-numbers-theres-a-lot-more-work-to-be-done. 5. Maxine Williams, “Facebook Diversity Update: Positive Hiring Trends Show Progress,” Facebook Newsroom, July 14, 2016, http://newsroom.fb.com/news/2016/07/facebook-diversity-update-positive-hiring-trends-show-progress. 6.

CRAWLING TOWARD REPRESENTATION To be fair, I’m not saying tech isn’t doing anything to improve diversity. You can find annual diversity reports from most of the big companies now, highlighting shifts in employee demographics and glossy profiles of staff from underrepresented groups. Whenever a new one comes out, though, it tends to read something like this one, from Apple CEO Tim Cook, in 2015: We are proud of the progress we’ve made, and our commitment to diversity is unwavering. But we know there is a lot more work to be done.4 Or this one, from Facebook’s global director of diversity, Maxine Williams, in 2016: Over the past few years, we have been working hard to increase diversity at Facebook through a variety of internal and external programs and partnerships.

And the title “Doctor” was coded as male.2 Or in March of 2016, when JAMA Internal Medicine released a study showing that the artificial intelligence built into smartphones from Apple, Samsung, Google, and Microsoft isn’t programmed to help during a crisis. The phones’ personal assistants didn’t understand words like “rape,” or “my husband is hitting me.” In fact, instead of doing even a simple web search, Siri—Apple’s product—cracked jokes and mocked users.3 It wasn’t the first time. Back in 2011, if you told Siri you were thinking about shooting yourself, it would give you directions to a gun store. After getting bad press, Apple partnered with the National Suicide Prevention Lifeline to offer users help when they said something that Siri identified as suicidal.


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Ten Lessons for a Post-Pandemic World by Fareed Zakaria

Asian financial crisis, basic income, Bernie Sanders, Boris Johnson, butterfly effect, Capital in the Twenty-First Century by Thomas Piketty, car-free, central bank independence, clean water, cloud computing, colonial rule, coronavirus, Covid-19, COVID-19, Credit Default Swap, David Graeber, deglobalization, Deng Xiaoping, Dominic Cummings, Donald Trump, Edward Glaeser, Elon Musk, Erik Brynjolfsson, failed state, Francis Fukuyama: the end of history, future of work, gig economy, Gini coefficient, global pandemic, global reserve currency, global supply chain, hiring and firing, housing crisis, imperial preference, income inequality, Indoor air pollution, invention of the wheel, Jane Jacobs, Jeff Bezos, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Snow's cholera map, Long Term Capital Management, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Martin Wolf, means of production, megacity, Mexican peso crisis / tequila crisis, Monroe Doctrine, Nate Silver, oil shock, open borders, out of africa, Parag Khanna, Peter Thiel, Plutocrats, plutocrats, popular capitalism, Productivity paradox, purchasing power parity, remote working, reserve currency, reshoring, ride hailing / ride sharing, Ronald Reagan, secular stagnation, Silicon Valley, software is eating the world, South China Sea, Steve Bannon, Steve Jobs, Steven Pinker, the built environment, The Death and Life of Great American Cities, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas L Friedman, Tim Cook: Apple, trade route, UNCLOS, universal basic income, urban planning, Washington Consensus, white flight, Works Progress Administration

(In fact, the company soon filed for bankruptcy, and as of this writing was searching for a new owner.) Apple faced a similar dilemma. In 2012, the company’s CEO, Tim Cook, proudly announced on prime-time television that its new computer would be manufactured in the United States. It was to be the first Apple product in many years bearing the words, “Assembled in USA.” But the plan to make Macs in Austin, Texas, turned out to be far more difficult than imagined, and sales of the computer were delayed by several months. The main obstacle ended up being something tiny, a custom screw that American manufacturers couldn’t produce enough of and that Apple ended up having to order from China.

Meanwhile, small wearable devices can constantly monitor a person’s vital functions and transmit the data to the cloud, where it can be analyzed and, if something irregular is detected, sent to medical specialists. Apple CEO Tim Cook has said he believes that his company’s “greatest contribution to mankind . . . will be about health”—through the increasingly sophisticated medical use of products like the Apple Watch. Ideally, the pandemic-induced move online will shift the entire focus of medicine away from treating diseases and toward preventing them, which is a far more effective way to keep us all healthy.

PublicationDocumentID=6322. 104 “25% of our workforce”: Sonal Khetarpal, “Post-COVID, 75% of 4.5 Lakh TCS Employees to Permanently Work from Home by ’25; from 20%,” Business Today India, April 30, 2020. 104 issued a correction: Saunak Chowdhury, “TCS Refutes Claims of 75% Employees Working from Home Post Lock-Down,” Indian Wire, April 28, 2020. 104 450,000 employees: Tata Consultancy Services, “About Us,” https://www.tcs.com/about-us. 106 up one billion: Jeff Becker and Arielle Trzcinski, “US Virtual Care Visits to Soar to More Than 1 Billion,” Forrester Analytics, April 10, 2020, https://go.forrester.com/press-newsroom/us-virtual-care-visits-to-soar-to-more-than-1-billion/. 106 “greatest contribution to mankind”: Lizzy Gurdus, “Tim Cook: Apple’s Greatest Contribution Will Be ‘About Health,’ ” CNBC Mad Money, January 8, 2019. 107 97% accuracy: “Using Artificial Intelligence to Classify Lung Cancer Types, Predict Mutations,” National Cancer Institute, October 10, 2018, https://www.cancer.gov/news-events/cancer-currents-blog/2018/artificial-intelligence-lung-cancer-classification. 107 up to 11% fewer false positives: D.


pages: 309 words: 96,168

Masters of Scale: Surprising Truths From the World's Most Successful Entrepreneurs by Reid Hoffman, June Cohen, Deron Triff

23andMe, 3D printing, Airbnb, Anne Wojcicki, Ben Horowitz, bitcoin, Broken windows theory, Burning Man, call centre, chief data officer, clean water, collaborative consumption, Covid-19, COVID-19, crowdsourcing, desegregation, Elon Musk, financial independence, gender pay gap, hockey-stick growth, Internet of things, knowledge economy, late fees, Lean Startup, lone genius, Mark Zuckerberg, minimum viable product, move fast and break things, move fast and break things, Network effects, Paul Graham, Peter Thiel, polynesian navigation, race to the bottom, remote working, RFID, Ronald Reagan, Rubik’s Cube, Ruby on Rails, Sam Altman, Silicon Valley, Silicon Valley startup, Steve Jobs, TaskRabbit, the scientific method, Tim Cook: Apple, Travis Kalanick, two and twenty, Y Combinator, zero day, Zipcar

When Burberry stores started seeing double-digit growth in sales, it became clear that Angela’s leadership style was equal parts vision and substance. * * * — Her success at Burberry was what got Tim Cook’s attention. Angela may have been hesitant to sign on to Apple at first, but she couldn’t resist the challenge Tim laid out for her. From its inception, the Apple Store had almost mythic status as a mecca for Apple superfans. But as the brand grew more and more popular, Apple’s customer base had grown and changed, too. The challenge now was to maintain the stores’ allure for techies while also appealing to more mainstream crowds. To pull that off would require a big vision.

And she’d regularly rotate in appearances by different senior execs from Apple’s offices across the globe, to build that sense of one cohesive team. Angela also worked to create more human-to-human contact across Apple’s network of retail stores: for example, through apps designed to make it easier for people working in different stores to connect and solve problems together. The mission she brought to the Apple Stores started with a question inspired by a quote from Tim Cook. Says Angela, “Tim used to always say, ‘Apple Retail has always been about so much more than just selling.’ So if it’s not just about selling, then what is it about?”

The change was so dramatic, Angela herself was declared by the British press to be the highest-paid executive in the United Kingdom. She and her family had settled happily into their life in the United Kingdom, and she had just shared a plan with her board—to double revenue again, over the next five years. And then Apple called. Or the search firm anyway. Apple CEO Tim Cook felt she should become Apple’s next Head of Retail. “And I said, ‘I’m honored, absolutely honored to be considered, but I have the greatest job in the world and I’m on a mission. So, no, thank you.’ ” Six months later, they called again. “And I said, ‘Look, it’s only been six months and nothing has changed.


pages: 271 words: 62,538

The Best Interface Is No Interface: The Simple Path to Brilliant Technology (Voices That Matter) by Golden Krishna

Airbnb, Bear Stearns, computer vision, crossover SUV, en.wikipedia.org, fear of failure, impulse control, Inbox Zero, Internet Archive, Internet of things, Jeff Bezos, Jony Ive, Kickstarter, Mark Zuckerberg, new economy, Oculus Rift, pattern recognition, QR code, RFID, self-driving car, Silicon Valley, Skype, Snapchat, Steve Jobs, technoutopianism, Tim Cook: Apple, Y Combinator, Y2K

Adam Lashinsky, “Amazon’s Jeff Bezos: The Ultimate Disrupter,” Fortune, November 16, 2012. http://fortune.com/2012/11/16/amazons-jeff-bezos-the-ultimate-disrupter/ 3 “Cook: It’s never been stronger. Innovation is so deeply embedded in Apple’s culture. The boldness, ambition, belief there aren’t limits, a desire to make the very best products in the world. It’s the strongest ever. It’s in the DNA of the company.” “Live Recap: Apple CEO Tim Cook Speaks at Goldman Conference,” Wall Street Journal - Digits, February 12, 2013. http://blogs.wsj.com/digits/2013/02/12/live-apple-ceo-tim-cook-speaks-at-goldman-conference/ 4 Jesse Solomon, “Google Worth More Than Exxon. Apple Next?” CNN, February 7, 2014. http://money.cnn.com/2014/02/07/investing/google-exxon-market-value/ 5 2012 Lobbying (Millions $) Google, 18.22 Exxon Mobil, 12.97 “Biggest Increases in Lobbying in U.S.,” Bloomberg, May 28, 2013. http://www.bloomberg.com/visual-data/best-and-worst/biggest-increases-in-lobbying-in-u-dot-s-companies 2014 April–June (Q2) Lobbying (Millions $) Google, 5.03 Exxon Mobil, 2.80 Pfizer, 1.60 Lauren Hepler, “Google Drops $5M on Q2 2014 Lobbying: Self-Driving Cars, Health, Tax, Immigration,” Silicon Valley Business Journal, July 28, 2014. http://www.bizjournals.com/sanjose/news/2014/07/28/self-driving-cars-health-tech-immigration-google.html 6 Ashlee Vance, “This Tech Bubble Is Different,” Businessweek, April 14, 2011. http://www.businessweek.com/magazine/content/11_17/b4225060960537.htm Chapter 5 Addiction UX 1 “A whopping 96 percent of Google’s $37.9 billion 2011 revenue came from advertising . . .”

The result is that much of our lives today is dominated by digital interfaces asking us to tap, touch, swipe, click, and hover because that’s what people were hired to create. HP CEO Meg Whitman says, “We’ve got to continue the innovation engine.”1 Amazon CEO Jeff Bezos says, “We innovate by starting with the customer and working backwards.”2 Apple CEO Tim Cook says, “Innovation is so deeply embedded in Apple’s culture.”3 But when you specifically hire someone to generate UI, you won’t get new, innovative solutions. You’ll get more UI, not better UX. This is UI: Navigation, subnavigation, menus, drop-downs, buttons, links, windows, rounded corners, shadowing, error messages, alerts, updates, checkboxes, password fields, search fields, text inputs, radio selections, text areas, hover states, selection states, pressed states, tooltips, banner ads, embedded videos, swipe animations, scrolling, clicking, iconography, colors, lists, slideshows, alt text, badges, notifications, gradients, pop-ups, carousels, OK/Cancel, etc. etc. etc.

1 John Pavlus, “A Tale of Two Newspaper Interfaces,” MIT Technology Review, March 13, 2013. http://www.technologyreview.com/view/512486/a-tale-of-two-newspaper-interfaces/ 2 Karis Hustad, ““Netflix Rolls Out Updated, Smarter TV Interface,” Christian Science Monitor, November 13, 2013. http://www.csmonitor.com/Innovation/2013/1113/Netflix-rolls-out-updated-smarter-TV-interface 3 “Apple TV: A Simpler Interface, Easier Access to Media Through the iCloud” Washington Post, March 8, 2012. http://www.washingtonpost.com/business/economy/apple-tv-a-simpler-interface-easier-access-to-media-through-icloud/2012/03/08/gIQARVivzR_story.html Chapter 2 Let’s Make an App 1 “Apple iPhone 3G ad - There’s An App For That (2009),” YouTube, Last accessed August 2014. https://www.youtube.com/watch?v=Mc-pV2YYOAs 2 Simon Hudson, Bumps for Boomers: Marketing Sport Tourism to the Aging Tourist, 2011, (Oxford: Goodfellow Publishers), p.14 3 Apple in 2009 started using the phrase, “There’s an app for that” in TV ads to show off the multitude of apps available for iOS devices through its popular App Store, which opened July 2008.


pages: 651 words: 186,130

This Is How They Tell Me the World Ends: The Cyberweapons Arms Race by Nicole Perlroth

4chan, active measures, activist lawyer, Airbnb, Albert Einstein, barriers to entry, Bernie Sanders, bitcoin, blood diamonds, Boeing 737 MAX, Brian Krebs, cloud computing, commoditize, coronavirus, Covid-19, COVID-19, crony capitalism, crowdsourcing, cryptocurrency, dark matter, defense in depth, disinformation, don't be evil, Donald Trump, drone strike, Edward Snowden, failed state, Ferguson, Missouri, Firefox, gender pay gap, global pandemic, global supply chain, index card, Internet of things, invisible hand, Jacob Appelbaum, Jeff Bezos, John Markoff, Marc Andreessen, Mark Zuckerberg, mass immigration, Menlo Park, MITM: man-in-the-middle, moral hazard, move fast and break things, move fast and break things, mutually assured destruction, natural language processing, offshore financial centre, open borders, pirate software, purchasing power parity, race to the bottom, RAND corporation, ransomware, rolodex, Rubik’s Cube, Sand Hill Road, Seymour Hersh, side project, Silicon Valley, Skype, smart cities, smart grid, South China Sea, Steve Ballmer, Steve Bannon, Steve Jobs, Steven Levy, Stuxnet, the scientific method, Tim Cook: Apple, undersea cable, uranium enrichment, web application, WikiLeaks, zero day, Zimmermann PGP

See Mikey Campbell, “Apple Rails against FBI Demands for ‘Govtos’ in Motion to Vacate Decryption Request,” Appleinsider.com, February 25, 2016. Tim Cook personally addressed the company’s battle with the FBI in interviews and in a message to Apple’s customers: “A Message to Our Customers,” February 16, 2016. In private, Apple employees argued that the government could not be trusted with the keys to Apple’s communications when it could not even keep its own employees’ data secure, as it had failed to do in the Chinese hack of the U.S. Office of Personnel Management. The quote from Carole Adams, the mother of one of the San Bernardino shooting victims, in support of Apple was sourced from Tony Bradley, “Apple vs. FBI: How Far Can the Government Go in the Name of ‘National Security’?”

“Espionage groups don’t reach out and say, ‘You burned my zero-day!’ ” Grosse told me. But, anecdotally, “We’re hearing that we’ve made their jobs a lot harder. I can live with that.” Tim Cook was getting flooded with personal letters from every corner of the globe—Brazil, China, his home state of Alabama. He received more personal notes from Germans throughout 2013 and 2014 than the sum total of notes he had received in his seventeen years at Apple. And the words in these notes were not merely dramatic and emotional. They were heartfelt. Germans had lived through Stasi surveillance, when every workplace, university, and public venue was monitored by soldiers, analysts, tiny cameras, and microphones to root out “subversive individuals.”

See also Tim Cook’s 2019 Commencement Address to Stanford University: www.youtube.com/watch?v=2C2VJwGBRRw. My colleagues Matt Richtel and Brian X. Chen chronicled Cook’s early days as CEO: “Tim Cook, Making Apple His Own,” New York Times, June 15, 2014. In the wake of the Snowden revelations, then President Obama held several closed-door meetings with Cook and other tech executives in 2014. In December, Obama met with Cook as well as Marissa Mayer of Yahoo, Dick Costolo of Twitter, Eric Schmidt of Google, Sheryl Sandberg of Facebook, Brian Roberts of Comcast, Randall Stephenson of AT&T, Brad Smith of Microsoft, Erika Rottenberg of LinkedIn, and Reed Hastings of Netflix.


pages: 459 words: 138,689

Slowdown: The End of the Great Acceleration―and Why It’s Good for the Planet, the Economy, and Our Lives by Danny Dorling, Kirsten McClure

Affordable Care Act / Obamacare, Berlin Wall, Bernie Sanders, Boris Johnson, British Empire, business cycle, capital controls, clean water, creative destruction, credit crunch, Donald Trump, drone strike, Elon Musk, en.wikipedia.org, Flynn Effect, full employment, future of work, gender pay gap, global supply chain, Google Glasses, Henri Poincaré, illegal immigration, immigration reform, income inequality, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Isaac Newton, James Dyson, jimmy wales, John Harrison: Longitude, Kickstarter, low earth orbit, Mark Zuckerberg, market clearing, Martin Wolf, mass immigration, means of production, megacity, meta-analysis, mortgage debt, nuclear winter, pattern recognition, Ponzi scheme, price stability, profit maximization, purchasing power parity, QWERTY keyboard, random walk, rent control, rising living standards, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, Scramble for Africa, sexual politics, Skype, Stephen Hawking, Steven Pinker, structural adjustment programs, the built environment, Tim Cook: Apple, transatlantic slave trade, trickle-down economics, very high income, wealth creators, wikimedia commons, working poor

Tom Orlik, “China’s Latest Official GDP Report Is Accurate. No, Really,” Bloomberg Businessweek, 25 January 2019, https://www.bloomberg.com/news/articles/2019-01-25/china-s-latest-official-gdp-report-is-accurate-no-really. 15. Tim Cook, “Letter from Tim Cook to Apple Investors,” Apple Press Release, 2 January 2019, https://www.apple.com/newsroom/2019/01/letter-from-tim-cook-to-apple-investors/. 16. Tim Jackson, Chasing Progress: Beyond Measuring Economic Growth (London: New Economics Foundation, 2004), https://neweconomics.org/2004/03/chasing-progress. 17. George Monbiot, “Goodbye, Kind World,” 10 August 2004, https://www.monbiot.com/2004/08/10/goodbye-kind-world/. 18.

Do that and then it becomes hard to maintain a common front. Some businesspeople will turn on their own politicians—turning on Donald Trump, in the case referred to above—to try to explain why their government’s approach is not helping. Although to see that in Tim Cook’s message, you need to read between the lines. That the chief executive officer of Apple, the eleventh-largest company in the world by revenue in 2019 and the fourth largest in America, should be so concerned about U.S. relations with China is telling. His predecessors were worried about whether it was best to manufacture in China and what the risks might be.

See also great acceleration Advanced Research Projects Agency Network (ARPANET), 31 Affordable Care Act, 313 Afghanistan, 172, 173 Africa: children in, 316–17; fertility rates, 158, 226, 227; language in, 73; Niger fertility rate, 201–4, 203; out-migration from, 158; population, 157–61, 159 agnosia, 287 AI (artificial intelligence), 85, 87, 96–97, 301–2 air travel, 302–4, 303, 363n2 Alexa, 79, 97 Americas: fertility rates, 226, 227; population, 177–79, 178, 209. See also United States Amsterdam: as center of selfishness, 263; house prices, 248, 249 Anderson, Li, 312 Angus Maddison Project Database 2018, 149, 155; GDP, 234, 238; population, 146, 148, 150, 151, 156, 159, 164, 167, 169, 172, 176 Apple (Tim Cook, CEO), 239–40 Ardern, Edward, 269 Armstrong, William, 94, 97 artificial intelligence (AI), 85, 87, 96–97, 301–2 Australia, population, 175, 176, 177 automobile debt, 43–49, 48 automobiles: and carbon emissions, 101–2, 112–16; and debt, 43–49, 48; numbers manufactured, 114–15, 118 babies, 143, 218, 309.


pages: 460 words: 107,454

Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet by Klaus Schwab

3D printing, additive manufacturing, agricultural Revolution, Apple II, Asian financial crisis, Asperger Syndrome, basic income, Berlin Wall, bitcoin, blockchain, blue-collar work, Branko Milanovic, Bretton Woods, British Empire, business process, capital controls, Capital in the Twenty-First Century by Thomas Piketty, car-free, carbon footprint, centre right, clean water, cleantech, cloud computing, collateralized debt obligation, collective bargaining, colonial rule, coronavirus, corporate governance, corporate social responsibility, Covid-19, COVID-19, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, cryptocurrency, cuban missile crisis, currency peg, cyber-physical system, decarbonisation, demographic dividend, Deng Xiaoping, Diane Coyle, don't be evil, European colonialism, Fall of the Berlin Wall, family office, financial innovation, Francis Fukuyama: the end of history, future of work, gender pay gap, gig economy, Gini coefficient, global supply chain, global value chain, global village, Google bus, high net worth, hiring and firing, housing crisis, income inequality, income per capita, independent contractor, industrial robot, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, James Watt: steam engine, Jeff Bezos, job automation, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, Khan Academy, Kickstarter, labor-force participation, low skilled workers, Lyft, manufacturing employment, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, Martin Wolf, means of production, megacity, Mikhail Gorbachev, mini-job, mittelstand, move fast and break things, move fast and break things, neoliberal agenda, Network effects, new economy, open economy, Peace of Westphalia, Peter Thiel, precariat, Productivity paradox, profit maximization, purchasing power parity, race to the bottom, reserve currency, reshoring, ride hailing / ride sharing, Ronald Reagan, San Francisco homelessness, self-driving car, shareholder value, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Simon Kuznets, Social Responsibility of Business Is to Increase Its Profits, special economic zone, Steve Jobs, Steve Wozniak, TaskRabbit, The Chicago School, The Future of Employment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, the scientific method, Tim Cook: Apple, trade route, transfer pricing, Uber and Lyft, uber lyft, union organizing, universal basic income, War on Poverty, We are the 99%, women in the workforce, working poor, working-age population, Yom Kippur War, young professional, zero-sum game

But over time, Benioff's outspoken stance did inspire others to take similar steps. Fellow Big Tech leaders, such as Tim Cook of Apple, started calling for regulation of their sector, in areas where they felt they were ill-equipped to make decisions on their own. Even if subtly aimed at other competitors, it showed that technology companies had started to reflect on the societal consequences of their actions. “Technology has the potential to keep changing the world for the better,” Apple's Tim Cook wrote ahead of Davos in 2019,27 “but it will never achieve that potential without the full faith and confidence of the people who use it.”

., November 2016, https://www.vox.com/2016/11/15/13631938/benioff-salesforce-data-government-federal-trade-commission-ftc-linkedin-microsoft. 26 Trailblazer, Marc Benioff, October 2019, pp. 12–13. 27 “You Deserve Privacy Online. Here's How You Could Actually Get It,” Tim Cook, TIME Magazine, January 2019, https://time.com/collection/davos-2019/5502591/tim-cook-data-privacy/. 28 “Big Tech Needs More Regulation,” Mark Zuckerberg, Financial Times, February 2020, https://www.ft.com/content/602ec7ec-4f18-11ea-95a0-43d18ec715f5. 29 “Benioff Comes Out Strong for Homeless Initiative, although Salesforce Would Pay Big,” Kevin Fagan, San Francisco Chronicle, October 2018, https://www.sfchronicle.com/bayarea/article/Benioff-comes-out-strong-for-homeless-initiative-13291392.php. 30 “The Social Responsibility of Business,” Marc Benioff, The New York Times, October 2018, https://www.nytimes.com/2018/10/24/opinion/business-social-responsibility-proposition-c.html. 31 “We can now measure the progress of stakeholder capitalism.

Notes 1 “Top 5 Tech Giants Who Shape Shenzhen, ‘China's Silicon Valley,’” South China Morning Post, April 2015, https://www.scmp.com/lifestyle/technology/enterprises/article/1765430/top-5-tech-giants-who-shape-shenzhen-chinas-silicon. 2 Interview with Liu Guohong by Peter Vanham, Shenzhen, China, June 2019. 3 Nanyang Commercial Bank, https://www.ncb.com.hk/nanyang_bank/eng/html/111.html. 4 “First Land Auction Since 1949 Planned in Key China Area,” Los Angeles Times/Reuters, June 1987, https://www.latimes.com/archives/la-xpm-1987-06-28-mn-374-story.html. 5 “The Silicon Valley of Hardware,” Wired, https://www.wired.co.uk/video/shenzhen-episode-1. 6 “Exclusive: Apple Supplier Foxconn to Invest $1 Billion in India, Sources Say,” Reuters, July 2020, https://www.reuters.com/article/us-foxconn-india-apple-exclusive/exclusive-apple-supplier-foxconn-to-invest-1-billion-in-india-sources-say-idUSKBN24B2GH. 7 “Global 500: Ping An Insurance,” Fortune, https://fortune.com/global500/2019/ping-an-insurance. 8 “The World's Biggest Electric Vehicle Company Looks Nothing Like Tesla,” Bloomberg, April 2019, https://www.bloomberg.com/news/features/2019-04-16/the-world-s-biggest-electric-vehicle-company-looks-nothing-like-tesla. 9 “How Shenzhen Battles Congestion and Climate Change,” Chia Jie Lin, GovInsider, July 2018, https://govinsider.asia/security/exclusive-shenzhen-battles-congestion-climate-change/. 10 “China's Debt Threat: Time to Rein in the Lending Boom,” Martin Wolf, Financial Times, July 2018 https://www.ft.com/content/0c7ecae2-8cfb-11e8-bb8f-a6a2f7bca546. 11 “China's Debt-to-GDP Ratio Surges to 317 Percent,” The Street, May 2020, https://www.thestreet.com/mishtalk/economics/chinas-debt-to-gdp-ratio-hits-317-percent. 12 “Climate Change: Xi Jinping Makes Bold Pledge for China to Be Carbon Neutral by 2060,” South China Morning Post, September 2020, https://www.scmp.com/news/china/diplomacy/article/3102761/climate-change-xi-jinping-makes-bold-pledge-china-be-carbon. 13 “Current Direction for Renewable Energy in China,” Anders Hove, The Oxford Institute for Energy Studies, June 2019, https://www.oxfordenergy.org/wpcms/wp-content/uploads/2020/06/Current-direction-for-renewable-energy-in-China.pdf. 14 “Everyone around the World is Ditching Coal—Except Asia,” Bloomberg, June 2020, https://www.bloomberg.com/news/articles/2020-06-09/the-pandemic-has-everyone-ditching-coal-quicker-except-asia. 15 “Statistical Review of World Energy 2020,” BP, https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html. 16 “World Integrated Trade Solution,” World Bank, 2018, https://wits.worldbank.org/CountryProfile/en/Country/CHN/Year/LTST/TradeFlow/Import/Partner/by-country/Product/Total#. 17 “China Imports,” Comtrade, UN, 2018, https://comtrade.un.org/labs/data-explorer/. 18 “Does Investing in Emerging Markets Still Make Sense?”


pages: 460 words: 107,454

Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet by Klaus Schwab, Peter Vanham

3D printing, additive manufacturing, agricultural Revolution, Apple II, Asian financial crisis, Asperger Syndrome, basic income, Berlin Wall, bitcoin, blockchain, blue-collar work, Branko Milanovic, Bretton Woods, British Empire, business process, capital controls, Capital in the Twenty-First Century by Thomas Piketty, car-free, carbon footprint, centre right, clean water, cleantech, cloud computing, collateralized debt obligation, collective bargaining, colonial rule, coronavirus, corporate governance, corporate social responsibility, Covid-19, COVID-19, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, cryptocurrency, cuban missile crisis, currency peg, cyber-physical system, decarbonisation, demographic dividend, Deng Xiaoping, Diane Coyle, don't be evil, European colonialism, Fall of the Berlin Wall, family office, financial innovation, Francis Fukuyama: the end of history, future of work, gender pay gap, gig economy, Gini coefficient, global supply chain, global value chain, global village, Google bus, high net worth, hiring and firing, housing crisis, income inequality, income per capita, independent contractor, industrial robot, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, James Watt: steam engine, Jeff Bezos, job automation, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, Khan Academy, Kickstarter, labor-force participation, low skilled workers, Lyft, manufacturing employment, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, Martin Wolf, means of production, megacity, Mikhail Gorbachev, mini-job, mittelstand, move fast and break things, move fast and break things, neoliberal agenda, Network effects, new economy, open economy, Peace of Westphalia, Peter Thiel, precariat, Productivity paradox, profit maximization, purchasing power parity, race to the bottom, reserve currency, reshoring, ride hailing / ride sharing, Ronald Reagan, San Francisco homelessness, self-driving car, shareholder value, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Simon Kuznets, Social Responsibility of Business Is to Increase Its Profits, special economic zone, Steve Jobs, Steve Wozniak, TaskRabbit, The Chicago School, The Future of Employment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, the scientific method, Tim Cook: Apple, trade route, transfer pricing, Uber and Lyft, uber lyft, union organizing, universal basic income, War on Poverty, We are the 99%, women in the workforce, working poor, working-age population, Yom Kippur War, young professional, zero-sum game

But over time, Benioff's outspoken stance did inspire others to take similar steps. Fellow Big Tech leaders, such as Tim Cook of Apple, started calling for regulation of their sector, in areas where they felt they were ill-equipped to make decisions on their own. Even if subtly aimed at other competitors, it showed that technology companies had started to reflect on the societal consequences of their actions. “Technology has the potential to keep changing the world for the better,” Apple's Tim Cook wrote ahead of Davos in 2019,27 “but it will never achieve that potential without the full faith and confidence of the people who use it.”

., November 2016, https://www.vox.com/2016/11/15/13631938/benioff-salesforce-data-government-federal-trade-commission-ftc-linkedin-microsoft. 26 Trailblazer, Marc Benioff, October 2019, pp. 12–13. 27 “You Deserve Privacy Online. Here's How You Could Actually Get It,” Tim Cook, TIME Magazine, January 2019, https://time.com/collection/davos-2019/5502591/tim-cook-data-privacy/. 28 “Big Tech Needs More Regulation,” Mark Zuckerberg, Financial Times, February 2020, https://www.ft.com/content/602ec7ec-4f18-11ea-95a0-43d18ec715f5. 29 “Benioff Comes Out Strong for Homeless Initiative, although Salesforce Would Pay Big,” Kevin Fagan, San Francisco Chronicle, October 2018, https://www.sfchronicle.com/bayarea/article/Benioff-comes-out-strong-for-homeless-initiative-13291392.php. 30 “The Social Responsibility of Business,” Marc Benioff, The New York Times, October 2018, https://www.nytimes.com/2018/10/24/opinion/business-social-responsibility-proposition-c.html. 31 “We can now measure the progress of stakeholder capitalism.

Notes 1 “Top 5 Tech Giants Who Shape Shenzhen, ‘China's Silicon Valley,’” South China Morning Post, April 2015, https://www.scmp.com/lifestyle/technology/enterprises/article/1765430/top-5-tech-giants-who-shape-shenzhen-chinas-silicon. 2 Interview with Liu Guohong by Peter Vanham, Shenzhen, China, June 2019. 3 Nanyang Commercial Bank, https://www.ncb.com.hk/nanyang_bank/eng/html/111.html. 4 “First Land Auction Since 1949 Planned in Key China Area,” Los Angeles Times/Reuters, June 1987, https://www.latimes.com/archives/la-xpm-1987-06-28-mn-374-story.html. 5 “The Silicon Valley of Hardware,” Wired, https://www.wired.co.uk/video/shenzhen-episode-1. 6 “Exclusive: Apple Supplier Foxconn to Invest $1 Billion in India, Sources Say,” Reuters, July 2020, https://www.reuters.com/article/us-foxconn-india-apple-exclusive/exclusive-apple-supplier-foxconn-to-invest-1-billion-in-india-sources-say-idUSKBN24B2GH. 7 “Global 500: Ping An Insurance,” Fortune, https://fortune.com/global500/2019/ping-an-insurance. 8 “The World's Biggest Electric Vehicle Company Looks Nothing Like Tesla,” Bloomberg, April 2019, https://www.bloomberg.com/news/features/2019-04-16/the-world-s-biggest-electric-vehicle-company-looks-nothing-like-tesla. 9 “How Shenzhen Battles Congestion and Climate Change,” Chia Jie Lin, GovInsider, July 2018, https://govinsider.asia/security/exclusive-shenzhen-battles-congestion-climate-change/. 10 “China's Debt Threat: Time to Rein in the Lending Boom,” Martin Wolf, Financial Times, July 2018 https://www.ft.com/content/0c7ecae2-8cfb-11e8-bb8f-a6a2f7bca546. 11 “China's Debt-to-GDP Ratio Surges to 317 Percent,” The Street, May 2020, https://www.thestreet.com/mishtalk/economics/chinas-debt-to-gdp-ratio-hits-317-percent. 12 “Climate Change: Xi Jinping Makes Bold Pledge for China to Be Carbon Neutral by 2060,” South China Morning Post, September 2020, https://www.scmp.com/news/china/diplomacy/article/3102761/climate-change-xi-jinping-makes-bold-pledge-china-be-carbon. 13 “Current Direction for Renewable Energy in China,” Anders Hove, The Oxford Institute for Energy Studies, June 2019, https://www.oxfordenergy.org/wpcms/wp-content/uploads/2020/06/Current-direction-for-renewable-energy-in-China.pdf. 14 “Everyone around the World is Ditching Coal—Except Asia,” Bloomberg, June 2020, https://www.bloomberg.com/news/articles/2020-06-09/the-pandemic-has-everyone-ditching-coal-quicker-except-asia. 15 “Statistical Review of World Energy 2020,” BP, https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html. 16 “World Integrated Trade Solution,” World Bank, 2018, https://wits.worldbank.org/CountryProfile/en/Country/CHN/Year/LTST/TradeFlow/Import/Partner/by-country/Product/Total#. 17 “China Imports,” Comtrade, UN, 2018, https://comtrade.un.org/labs/data-explorer/. 18 “Does Investing in Emerging Markets Still Make Sense?”


pages: 706 words: 202,591

Facebook: The Inside Story by Steven Levy

active measures, Airbnb, Airbus A320, Amazon Mechanical Turk, Apple's 1984 Super Bowl advert, augmented reality, Ben Horowitz, blockchain, Burning Man, business intelligence, cloud computing, computer vision, crowdsourcing, cryptocurrency, disinformation, don't be evil, Donald Trump, East Village, Edward Snowden, El Camino Real, Elon Musk, Firefox, Frank Gehry, glass ceiling, indoor plumbing, Jeff Bezos, John Markoff, Jony Ive, Kevin Kelly, Kickstarter, Lyft, Mahatma Gandhi, Marc Andreessen, Mark Zuckerberg, Menlo Park, Metcalfe’s law, MITM: man-in-the-middle, move fast and break things, move fast and break things, natural language processing, Network effects, Oculus Rift, PageRank, Paul Buchheit, paypal mafia, Peter Thiel, pets.com, post-work, Ray Kurzweil, recommendation engine, Robert Mercer, Robert Metcalfe, rolodex, Sam Altman, Sand Hill Road, self-driving car, sexual politics, Shoshana Zuboff, side project, Silicon Valley, Silicon Valley startup, slashdot, Snapchat, social graph, social software, South of Market, San Francisco, Startup school, Steve Ballmer, Steve Bannon, Steve Jobs, Steven Levy, Steven Pinker, surveillance capitalism, Tim Cook: Apple, Tragedy of the Commons, web application, WeWork, WikiLeaks, women in the workforce, Y Combinator, Y2K, you are the product

“If you’re not”: Cook’s remark was made on an MSNBC “Revolution” event in an interview with Kara Swisher and Chris Hayes, on April 6, 2018. Cook disagreed: Matthew Panzarino, “Apple’s Tim Cook Delivers Blistering Speech on Encryption, Privacy,” TechCrunch, June 2, 2015. measure their worth with Likes: Brian Fung, “Apple’s Tim Cook May Have Taken a Subtle Dig at Facebook in His MIT Commencement Speech,” Washington Post, June 9, 2017. After Cambridge: Peter Kafka, “Tim Cook Says Facebook Should Have Regulated Itself, but It’s Too Late for That Now,” Recode, March 28, 2018. “extremely glib”: Ezra Klein, “Mark Zuckerberg on Facebook’s Hardest Year, and What Comes Next,” Vox, April 2, 2018.

“It’s a shared view that we’ve turned the corner and that we now have confidence that we can not only address problems that come up but we can systematically get ahead of them in the future,” Andrew Bosworth told me in late 2018. Not all of them, it turned out. While Facebook’s critics were abundant, one in particular seemed to get under Zuckerberg’s skin: Apple’s CEO, Tim Cook. As Facebook’s problems became more public after the election, Cook began to voice reservations about social media, and Facebook in particular. Apple’s business model, Cook noted at every opportunity, was based on a straightforward exchange: you pay for the product and use it. The Facebook business model, Cook would note, provides a service that seems free but actually isn’t, as you are paying with your personal information and constant exposure to ads.

Just as leaders of great national powers would summit despite their hostilities, Zuckerberg and Cook would generally set aside time to talk at the annual Herb Allen summer gathering. In 2017, Zuckerberg had been upset at a remark Cook had made at a commencement speech; the Apple CEO had told the graduates not to measure their worth with Likes, and Zuckerberg had taken that personally. Tim Cook wasn’t about to run his speeches past Zuckerberg. By then Cook was promoting privacy as a pillar of Apple’s deal with its customers. The targets of his jibes were Google and Facebook, but only Google was a direct competitor, and Zuckerberg felt sideswiped. After Cambridge Analytica, Cook was asked what he would do if he were in Zuckerberg’s place.


pages: 159 words: 42,401

Snowden's Box: Trust in the Age of Surveillance by Jessica Bruder, Dale Maharidge

anti-communist, Bay Area Rapid Transit, Berlin Wall, blockchain, Broken windows theory, Burning Man, cashless society, Chelsea Manning, citizen journalism, computer vision, crowdsourcing, disinformation, Donald Trump, Edward Snowden, Elon Musk, Ferguson, Missouri, Filter Bubble, Firefox, Internet of things, Jeff Bezos, Julian Assange, license plate recognition, Mark Zuckerberg, mass incarceration, medical malpractice, Occupy movement, off grid, pattern recognition, Peter Thiel, Robert Bork, Seymour Hersh, Shoshana Zuboff, Silicon Valley, Skype, social graph, Steven Levy, surveillance capitalism, Tim Cook: Apple, web of trust, WikiLeaks

Purges Hundreds of Millions of Call and Text Records,” New York Times, June 28, 2018. p. 93 German media scholar Till Wäscher: Wäscher, “Six Frames against Surveillance.” p. 94 Apple CEO Tim Cook: Eric Lichtblau and Katie Benner, “Apple Fights Order to Unlock San Bernardino Gunman’s iPhone,” New York Times, February 17, 2016; Kate Fazzini, “In a Three-Way Privacy Fight, Apple Has More to Lose Than Facebook or Google,” CNBC, October 25, 2018. p. 94 Justice Department officials derided the company’s refusal to cooperate: Eric Lichtblau and Matt Apuzzo, “Justice Department Calls Apple’s Refusal to Unlock iPhone a ‘Marketing Strategy,’” New York Times, February 19, 2016. p. 94 Snowden told the Guardian he had no regrets: Ewen MacAskill and Alex Hern, “Edward Snowden: ‘The People Are Still Powerless, but Now They’re Aware,” Guardian, June 4, 2018.

In 2016, the popular messaging service WhatsApp began using end-to-end encryption to protect users’ communications. The same year, tensions rose as Apple defied a federal court order to help the FBI break into an iPhone belonging to one of the perpetrators of a San Bernardino mass shooting that killed fourteen people. “The same engineers who built strong encryption into the iPhone to protect our users would, ironically, be ordered to weaken those protections and make our users less safe,” said Apple CEO Tim Cook, who later made “privacy is a human right” his public mantra. Justice Department officials derided the company’s refusal to cooperate, calling it a “marketing strategy.”

I absorbed the story, trying to process the enormity of it all. A national freakout was brewing. I called Dale: “Is that it?” “Yes.” “Shit.” I felt light-headed. “Is that all of it?” “No.” Over the next few days, more disclosures followed. The NSA had been collecting users’ private communications from AOL, Apple, Facebook, Google, Microsoft, Yahoo, and other companies. Obama had told intelligence officials to make a list of possible foreign targets for American cyberattacks. During a single thirty-day period, the NSA had harvested nearly 3 billion pieces of intelligence from US computer networks. And so on.


pages: 363 words: 92,422

A Fine Mess by T. R. Reid

Affordable Care Act / Obamacare, Bernie Sanders, Capital in the Twenty-First Century by Thomas Piketty, carried interest, centre right, clean water, Donald Trump, Double Irish / Dutch Sandwich, game design, Gini coefficient, High speed trading, Home mortgage interest deduction, Honoré de Balzac, income inequality, industrial robot, land value tax, loss aversion, mortgage tax deduction, obamacare, Occupy movement, offshore financial centre, oil shock, Plutocrats, plutocrats, race to the bottom, Ronald Reagan, seigniorage, Silicon Valley, Skype, Snapchat, sovereign wealth fund, Tax Reform Act of 1986, Tesla Model S, The Wealth of Nations by Adam Smith, Tim Cook: Apple, Tobin tax, We are the 99%, WikiLeaks

When confronted about these tactics by angry U.S. senators from both parties—“It is completely outrageous,” said John McCain, the Arizona Republican, “that Apple has not only dodged full payment of U.S. taxes, but it has managed to evade paying taxes around the world through its convoluted and pernicious strategies”—Apple executives responded with indignation of their own. “We pay all the taxes we owe, every single dollar,” declared Tim Cook, Apple’s CEO, who noted that Apple paid significant sums in U.S. taxes on its sales in the United States—more than $16 million in corporate income tax every day of the year. “We do not depend on tax gimmicks. . . . We do not stash money on some Caribbean island.” The problem, Cook said, was that 35% corporate tax rate, which would make it “very expensive” to record those international sales in the United States or to bring home the billions of dollars Apple had assigned to its foreign subsidiaries.

By routing its manufacturing through a tiny factory in Puerto Rico, Microsoft saved over $4.5 billion in taxes on goods sold in the United States” over a three-year period.8 Despite these industrious efforts to escape American taxes, Caterpillar, Apple, Google, and Microsoft still declare themselves to be American corporations. Apple’s CEO, Tim Cook, was adamant on this point that day when the senators were grilling him about “stateless income.” “I am often asked,” Cook said, “if Apple still considers itself an American company. My answer has always been an emphatic ‘Yes.’ We are proud to be an American company and equally proud of our contribution to the U.S. economy.”

The best solution would be for the United States to “eliminate all corporate tax expenditures, lower corporate income tax rates, and implement a reasonable tax on foreign earnings that allows the free flow of capital back to the United States.” In short, Tim Cook gave Congress the same message that Gérard Depardieu had given to François Hollande: if you set tax rates high, taxpayers will fall back on “convoluted and pernicious strategies” to avoid them—including taking their money to a different country. Although Cook did not mention it to the senators, Apple Inc. had actually found a roundabout way to bring home some of the billions it held overseas without paying U.S. tax on the earnings. In 2013, Apple borrowed billions of dollars—that is, it sold corporate bonds—in the United States.


pages: 339 words: 95,270

Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace by Matthew C. Klein

Albert Einstein, Asian financial crisis, asset allocation, asset-backed security, Berlin Wall, Bernie Sanders, Branko Milanovic, Bretton Woods, British Empire, business climate, business cycle, capital controls, centre right, collective bargaining, currency manipulation / currency intervention, currency peg, David Ricardo: comparative advantage, deglobalization, deindustrialization, Deng Xiaoping, Donald Trump, Double Irish / Dutch Sandwich, Fall of the Berlin Wall, falling living standards, financial innovation, financial repression, fixed income, full employment, George Akerlof, global supply chain, global value chain, illegal immigration, income inequality, intangible asset, invention of the telegraph, joint-stock company, land reform, Long Term Capital Management, Malcom McLean invented shipping containers, manufacturing employment, Martin Wolf, mass immigration, Mikhail Gorbachev, Money creation, money market fund, mortgage debt, New Urbanism, Nixon triggered the end of the Bretton Woods system, offshore financial centre, oil shock, open economy, paradox of thrift, passive income, reserve currency, rising living standards, Robert Shiller, Robert Shiller, Ronald Reagan, savings glut, Scramble for Africa, sovereign wealth fund, The Nature of the Firm, The Wealth of Nations by Adam Smith, Tim Cook: Apple, trade liberalization, Wolfgang Streeck

The only safety of nations lies in removing the unearned increments of income from the possessing classes, and adding them to the wage-income of the working classes or to the public income, in order that they may be spent in raising the standard of consumption. John A. Hobson, Imperialism: A Study (1902) Contents Acknowledgments Introduction ONE From Adam Smith to Tim Cook: The Transformation of Global Trade TWO The Growth of Global Finance THREE Saving, Investment, and Imbalances FOUR From Tiananmen to the Belt and Road: Understanding China’s Surplus FIVE The Fall of the Wall and the Schwarze Null: Understanding Germany’s Surplus SIX The American Exception: The Exorbitant Burden and the Persistent Deficit Conclusion.

The challenge is an intellectual one (getting people to appreciate this perspective) and a political one (defeating entrenched interests that benefit from the status quo). To understand how all this works, it helps to have a historical perspective of how we got here. O•N•E From Adam Smith to Tim Cook The Transformation of Global Trade International trade used to be simple. High transport costs and politically imposed constraints limited the flow of finished goods and raw materials across borders. In the late eighteenth and early nineteenth centuries, British thinkers argued for removing tariffs and other barriers to encourage specialization, while Americans and Germans proposed protecting infant industries to develop diversified domestic markets.

See also Thomas Hauner, Branko Milanovic, and Suresh Naidu, “Inequality, Foreign Investment, and Imperialism,” Stone Center Working Paper 2017, for a modern quantitative analysis of Hobson’s thesis. 8. Kenneth Austin, “Communist China’s Capitalism: The Highest Stage of Capitalist Imperialism,” World Economics, January–March 2011, 79–94. ONE From Adam Smith to Tim Cook 1. Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 2 vols., ed. Edwin Cannan (London: Methuen, 1904), vol. 1, bk. 1, chap. 1, available at https://oll.libertyfund.org/. 2. R. H. Coase, “The Nature of the Firm,” Economica 4, no. 16 (November 1937): 386–405. 3. Smith, Wealth of Nations, vol. 1, bk. 4, chap. 2. 4.


pages: 598 words: 134,339

Data and Goliath: The Hidden Battles to Collect Your Data and Control Your World by Bruce Schneier

23andMe, Airbnb, airport security, AltaVista, Anne Wojcicki, augmented reality, Benjamin Mako Hill, Black Swan, Boris Johnson, Brewster Kahle, Brian Krebs, call centre, Cass Sunstein, Chelsea Manning, citizen journalism, cloud computing, congestion charging, disintermediation, drone strike, Edward Snowden, experimental subject, failed state, fault tolerance, Ferguson, Missouri, Filter Bubble, Firefox, friendly fire, Google Chrome, Google Glasses, hindsight bias, informal economy, Internet Archive, Internet of things, Jacob Appelbaum, Jaron Lanier, John Markoff, Julian Assange, Kevin Kelly, license plate recognition, lifelogging, linked data, Lyft, Mark Zuckerberg, moral panic, Nash equilibrium, Nate Silver, national security letter, Network effects, Occupy movement, Panopticon Jeremy Bentham, payday loans, pre–internet, price discrimination, profit motive, race to the bottom, RAND corporation, recommendation engine, RFID, Ross Ulbricht, self-driving car, Shoshana Zuboff, Silicon Valley, Skype, smart cities, smart grid, Snapchat, social graph, software as a service, South China Sea, stealth mode startup, Steven Levy, Stuxnet, TaskRabbit, telemarketer, Tim Cook: Apple, transaction costs, Uber and Lyft, uber lyft, undersea cable, urban planning, WikiLeaks, Yochai Benkler, zero day

Google has done much the same: Associated Press (2 Apr 2013), “Timeline: A look at developments linked to Google privacy concerns,” CTV News, http://www.ctvnews.ca/sci-tech/timeline-a-look-at-developments-linked-to-google-privacy-concerns-1.1220927. Apple is somewhat of an exception: Rich Mogull (25 Jun 2014), “Why Apple really cares about your privacy,” Macworld, http://www.macworld.com/article/2366921/why-apple-really-cares-about-your-privacy.html. It uses iTunes purchase information: Charles Arthur (18 Sep 2014), “Apple’s Tim Cook attacks Google and Facebook over privacy flaws,” Guardian, http://www.theguardian.com/technology/2014/sep/18/apple-tim-cook-google-facebook-privacy-surveillance. It’s very big business for Amazon: Jay Greene (18 Mar 2014), “Amazon easing into $1 billion sideline business: ad sales,” Union Bulletin, http://union-bulletin.com/news/2014/mar/18/amazon-easing-1b-sideline-business-ad-sales.

The UK wants similar access: Guardian (19 Sep 2014), “Former UK ambassador to the United States given data-access role,” Guardian, http://www.theguardian.com/technology/2014/sep/19/sir-nigel-shienwald-data-access-role-david-cameron. Apple’s business model protects: Rich Mogull (25 Jun 2014), “Why Apple really cares about your privacy,” Macworld, http://www.macworld.com/article/2366921/why-apple-really-cares-about-your-privacy.html. Charles Arthur (18 Sep 2014), “Apple’s Tim Cook attacks Google and Facebook over privacy flaws,” Guardian, http://www.theguardian.com/technology/2014/sep/18/apple-tim-cook-google-facebook-privacy-surveillance. Do you trust a company: European countries allow for far more permissive government access than the US does.

companies are employing “warrant canaries”: Cyrus Farivar (5 Nov 2013), “Apple takes strong privacy stance in new report, publishes rare ‘warrant canary,’” Ars Technica, http://arstechnica.com/tech-policy/2013/11/apple-takes-strong-privacy-stance-in-new-report-publishes-rare-warrant-canary. valiant and clever effort: In fact, Apple’s canary disappeared in the report following the one where it debuted. No one is sure what it means. Jeff John Roberts (18 Sep 2014), “Apple’s ‘warrant canary’ disappears, suggesting new Patriot Act demands,” Gigaom, https://gigaom.com/2014/09/18/apples-warrant-canary-disappears-suggesting-new-patriot-act-demands.


pages: 321 words: 92,828

Late Bloomers: The Power of Patience in a World Obsessed With Early Achievement by Rich Karlgaard

Airbnb, Albert Einstein, Amazon Web Services, Apple's 1984 Super Bowl advert, Bernie Madoff, Bob Noyce, Brownian motion, Captain Sullenberger Hudson, cloud computing, cognitive dissonance, Daniel Kahneman / Amos Tversky, deliberate practice, Electric Kool-Aid Acid Test, Elon Musk, en.wikipedia.org, experimental economics, fear of failure, financial independence, follow your passion, Frederick Winslow Taylor, hiring and firing, Internet of things, Isaac Newton, Jeff Bezos, job satisfaction, knowledge economy, labor-force participation, longitudinal study, low skilled workers, Mark Zuckerberg, meta-analysis, Moneyball by Michael Lewis explains big data, move fast and break things, move fast and break things, pattern recognition, Peter Thiel, Sand Hill Road, science of happiness, shareholder value, Silicon Valley, Silicon Valley startup, Snapchat, Steve Jobs, Steve Wozniak, sunk-cost fallacy, theory of mind, Tim Cook: Apple, Toyota Production System, unpaid internship, upwardly mobile, women in the workforce, working poor

Magic Johnson heads a group that bought Major League Baseball’s Los Angeles Dodgers from Frank McCourt for $2 billion. most recent Forbes list: “Forbes Releases 2018 List of America’s Richest Self-Made Women, a Ranking of the Successful Women Entrepreneurs in the Country,” Forbes, July 11, 2018, https://bit.ly/​2NI4zje. Apple CEO: Tim Cook, “Tim Cook Speaks Up,” Bloomberg, October 30, 2014. attitudes toward diversity: Gary R. Hicks and Tien-Tsung Lee, “Public Attitudes Toward Gays and Lesbians: Trends and Predictors,” Journal of Homosexuality 51, no. 2 (2006): 57–77; Andrew Markus, “Attitudes to Multiculturalism and Cultural Diversity,” in Multiculturalism and Integration: A Harmonious Relationship, ed.

Prominent African Americans like Michael Jordan and Magic Johnson aren’t just former athletes, they’re now team owners. The most recent Forbes list of “America’s Richest Self-Made Women” includes seventeen billionaires, with businesses ranging from roofing to trucking to retail. Same-sex marriage is now a federally mandated constitutional right in all fifty states, and high-profile business leaders like Apple CEO Tim Cook openly identify as gay. And even though we’ve lately taken a step back as a society in terms of public and political tolerance, polls confirm that over recent decades, attitudes toward diversity in education and the workplace, gender equality, and same-sex marriage have shifted steadily.

In 2008, Hector Zenil, who coleads the Algorithmic Dynamics Lab at the Karolinska Institute in Sweden, studied 3,400 people between the ages of four and ninety-one on their ability to behave randomly. The idea is that random thinking—seeing beyond the obvious—is connected to creative thinking. When an apple falls from a tree, the creative person doesn’t simply think that apple must have been ripe; like Isaac Newton, she sees the apple fall and pictures the invisible force of gravity. How did Hector Zenil and researchers test for random thinking? They developed five short “random item generation” tasks performed on a computer, including twelve simulated coin flips, ten simulated rolls of a die, and arranging boxes on a grid.


pages: 569 words: 156,139

Amazon Unbound: Jeff Bezos and the Invention of a Global Empire by Brad Stone

activist fund / activist shareholder / activist investor, air freight, Airbnb, Amazon Picking Challenge, Amazon Web Services, autonomous vehicles, Bernie Sanders, big data - Walmart - Pop Tarts, business climate, call centre, carbon footprint, Clayton Christensen, cloud computing, Colonization of Mars, commoditize, computer vision, coronavirus, corporate governance, Covid-19, COVID-19, crowdsourcing, disinformation, disintermediation, Donald Trump, Downton Abbey, Elon Musk, future of work, global pandemic, income inequality, independent contractor, invisible hand, Jeff Bezos, John Markoff, Mahatma Gandhi, Mark Zuckerberg, mass immigration, minimum viable product, move fast and break things, Peter Thiel, Ponzi scheme, Potemkin village, private space industry, quantitative hedge fund, remote working, RFID, Robert Bork, Ronald Reagan, search inside the book, Silicon Valley, Silicon Valley startup, Snapchat, speech recognition, Steve Ballmer, Steve Jobs, Steven Levy, Tim Cook: Apple, Tony Hsieh, too big to fail, Tragedy of the Commons, Uber for X, union organizing, WeWork

Despite instituting temperature checks, social distancing guidelines, and other safety measures, some employees were still getting sick and workers protested that the company was prioritizing sales over safety. Leandro Justen After it resisted making Bezos available to testify before Congress, Amazon was forced to relent. On July 29, 2020, the CEO appeared virtually, along with Facebook’s Mark Zuckerberg, Google’s Sundar Pichai, and Apple’s Tim Cook, during the House Judiciary Subcommittee’s hearing on online platforms and market power. Mandel Ngan “My life is based on a large series of mistakes,” Bezos said in November 2019 at the Smithsonian’s American Portrait Gala in Washington D.C. He was introduced by his oldest son, Preston. Joy Asico/AP for National Portrait Gallery Bezos sorted through binders of artists before choosing the photorealistic painter Robert McCurdy.

It’s part of what makes it so special.” Bezos had saved the Post. But he was also, in a way, benefiting from the refracted glow of its noble journalistic mission. In 2016, Fortune magazine placed Bezos in the top spot on its list of the world’s 50 Greatest Leaders—above Angela Merkel, Pope Francis, and Tim Cook. The accompanying article spent as much space on the turnaround at the paper as it did on the momentum at Amazon. “We used to joke that Jeff changed retail completely, built a 10,000-year clock, and sent rockets into space. But he wasn’t called the greatest leader in the world until he helped a newspaper company,” a former Post executive told me.

For Bezos and his advisors though, who were still trying to positively spin the embarrassing events surrounding his divorce, such a cloud of uncertainty was at the very least distracting from the more unsavory and complicated truth. * * * As the entire mêlée quieted over the course of 2019, Bezos and Lauren Sanchez started appearing together in public. In July, they attended the Allen & Company conference in Sun Valley, Idaho, mingling with the likes of Warren Buffett, Tim Cook, and Mark Zuckerberg. A few days later, they watched the Wimbledon men’s finals from the Royal Box, three rows behind Prince William and Kate Middleton. In August, they gamboled in the western Mediterranean Sea on the super yacht of mogul David Geffen. There were also trips to Solomeo, Italy, for a summit organized by luxury designer Brunello Cucinelli and to Venice, aboard the mega yacht of Barry Diller and Diane von Furstenberg.


pages: 254 words: 81,009

Busy by Tony Crabbe

airport security, Bluma Zeigarnik, British Empire, business process, cognitive dissonance, Daniel Kahneman / Amos Tversky, fear of failure, Frederick Winslow Taylor, haute cuisine, informal economy, inventory management, Isaac Newton, job satisfaction, knowledge worker, Lao Tzu, loss aversion, low cost airline, meta-analysis, Milgram experiment, placebo effect, Richard Feynman, Rubik’s Cube, Saturday Night Live, science of happiness, Shai Danziger, Thorstein Veblen, Tim Cook: Apple

Kjell Nordström and Jonas Ridderstrale, Karaoke Capitalism (New York: Financial Times Prentice Hall, 2004). 6. Cited by Susan Adams, “The Test That Measures a Leader’s Strengths,” Forbes.com (August 28, 2009), http://www.forbes.com/2009/08/28/strengthsfinder-skills-test-leadership-managing-jobs.html. 7. Quoted by Dan Frommer, “Apple COO Tim Cook: ‘We Have No Interest In Being In The TV Market,’” Business Insider (February 23, 2010), http://www.businessinsider.com/live-apple-coo-tim-cook-at-the-goldman-tech-conference-2010-2. 8. Robert S. Kaplan and David P. Norton, “The Balanced Scorecard: Measures That Drive Performance,” Harvard Business Review 83 (July–August 2005): 172–80. 9. M. Baghai, S. Coley, and D.

We say “no” to good ideas every day. We say “no” to great ideas in order to keep the amount of things we focus on very small in number so that we can put enormous energy behind the ones we choose.7 —Tim Cook, Apple CEO Succeeding in a world of too much is not about producing “more”; in fact, it is about doing less, better and with more impact. It’s about focusing on fewer, bigger things with enormous energy. Like Apple. Here are some practical tactics to help you to do this. Do the Big Stuff First There is a little experiment Stephen Covey used to do with rocks, gravel and sand. You take a big jug and fill it with big rocks.

Product-based positioning can come from either strategy. Henkel, the German company, invented the glue stick to allow people to easily and cleanly glue paper. Henkel released Pritt Stick in 1969, which fit a need (we didn’t know we had) in schools and offices; by 2001 they were being sold in 121 countries. Apple is the obvious example of sexy. At the time iPods were becoming dominant, there were many other MP3 players, but none were so cool. It’s about doing very few things really well, so that they stand out from the competition in a crowded market. How could you differentiate yourself through what you do?


pages: 421 words: 110,406

Platform Revolution: How Networked Markets Are Transforming the Economy--And How to Make Them Work for You by Sangeet Paul Choudary, Marshall W. van Alstyne, Geoffrey G. Parker

3D printing, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, Amazon Mechanical Turk, Amazon Web Services, Andrei Shleifer, Apple's 1984 Super Bowl advert, autonomous vehicles, barriers to entry, big data - Walmart - Pop Tarts, bitcoin, blockchain, business cycle, business process, buy low sell high, chief data officer, Chuck Templeton: OpenTable:, clean water, cloud computing, connected car, corporate governance, crowdsourcing, data acquisition, data is the new oil, digital map, discounted cash flows, disintermediation, Edward Glaeser, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, financial innovation, Haber-Bosch Process, High speed trading, independent contractor, information asymmetry, Internet of things, inventory management, invisible hand, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, Khan Academy, Kickstarter, Lean Startup, Lyft, Marc Andreessen, market design, Metcalfe’s law, multi-sided market, Network effects, new economy, payday loans, peer-to-peer lending, Peter Thiel, pets.com, pre–internet, price mechanism, recommendation engine, RFID, Richard Stallman, ride hailing / ride sharing, Robert Metcalfe, Ronald Coase, Satoshi Nakamoto, self-driving car, shareholder value, sharing economy, side project, Silicon Valley, Skype, smart contracts, smart grid, Snapchat, software is eating the world, Steve Jobs, TaskRabbit, The Chicago School, the payments system, Tim Cook: Apple, transaction costs, Travis Kalanick, two-sided market, Uber and Lyft, Uber for X, uber lyft, winner-take-all economy, zero-sum game, Zipcar

Charles Duhigg, “How Companies Learn Your Secrets,” New York Times, February 16, 2012, http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html?pagewanted=all. 18. Wade Roush, “The Story of Siri, from Birth at SRI to Acquisition by Apple—Virtual Personal Assistants Go Mobile,” xconomy, June 14, 2010, http://www.xconomy.com/san-francisco/2010/06/14/the-story-of-siri-from-birth-at-sri-to-acquisition-by-apple-virtual-personal-assistants-go-mobile/?single_page=true. 19. “A letter from Tim Cook on Maps,” Apple, http://www.apple.com/letter-from-tim-cook-on-maps/. 20. Amadeo, “Google’s Iron Grip on Android.” CHAPTER 8: GOVERNANCE 1. Josh Dzieza, “Keurig’s Attempt to DRM Its Coffee Cups Totally Backfired,” The Verge, February 5, 2015, http://www.theverge .com/2015/2/5/7986327/keurigs-attempt-to-drm-its-coffee-cups-totally-backfired. 2.

Apple’s decision to create its own mapping app to compete with Google Maps made sound strategic sense—despite the fact that the initial service was so poorly designed that it caused Apple significant public embarrassment. The new app misclassified nurseries as airports and cities as hospitals, suggested driving routes that passed over open water (your car had better float!), and even stranded unwary travelers in an Australian desert a full seventy kilometers from the town they expected to find there. iPhone users erupted in howls of protest, the media had a field day lampooning Apple’s misstep, and CEO Tim Cook had to issue a public apology.19 Apple accepted the bad publicity, likely reasoning that it could quickly improve its mapping service to an acceptable quality level—and this is essentially what has happened.

These laws moderate behavior at both the user and the ecosystem level. For example, at the user level, the Apple rule that allows a user to share digital content among up to six devices or family members prevents unlimited sharing while nonetheless providing economic incentives for the purchase of Apple services and making a reasonable amount of sharing convenient.22 At the ecosystem level, the Apple rule compelling app developers to submit all code for review, combined with the rule that releases Apple from any duty of confidentiality, allows Apple to proliferate best practices.23 Platform laws should be, and usually are, transparent.


pages: 393 words: 115,217

Loonshots: How to Nurture the Crazy Ideas That Win Wars, Cure Diseases, and Transform Industries by Safi Bahcall

accounting loophole / creative accounting, Albert Einstein, Apple II, Apple's 1984 Super Bowl advert, Astronomia nova, British Empire, Cass Sunstein, Charles Lindbergh, Clayton Christensen, cognitive bias, creative destruction, disruptive innovation, diversified portfolio, double helix, Douglas Engelbart, Douglas Engelbart, Edmond Halley, Gary Taubes, hypertext link, invisible hand, Isaac Newton, Johannes Kepler, Jony Ive, knowledge economy, lone genius, Louis Pasteur, Mark Zuckerberg, Menlo Park, Mother of all demos, Murray Gell-Mann, PageRank, Peter Thiel, Philip Mirowski, Pierre-Simon Laplace, prediction markets, pre–internet, Ralph Waldo Emerson, RAND corporation, random walk, Richard Feynman, Richard Thaler, side project, Silicon Valley, six sigma, Solar eclipse in 1919, stem cell, Steve Jobs, Steve Wozniak, the scientific method, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Tim Cook: Apple, tulip mania, Wall-E, wikimedia commons, yield management

Just like the failure of Friendster prior to Facebook, or the failure of cholesterol-lowering drugs and diets prior to Endo’s statins, or the failure of the Comets before the Boeing 707, IBM’s failure with OS/2 had been a False Fail. In rescuing Apple, Jobs demonstrated how to escape the Moses Trap. He had learned to nurture both types of loonshots: P-type and S-type. He had separated his phases: the studio of Jony Ive, Apple’s chief product designer, who reported only to Jobs, became “as off-limits as Los Alamos during the Manhattan Project.” He had learned to love both artists and soldiers: it was Tim Cook who was groomed to succeed him as CEO. Jobs tailored the tools to the phase and balanced the tensions between new products and existing franchises in ways that have been described in many books and articles written about Apple.

Steve Wozniak, Apple’s cofounder along with Jobs, who was working on the Apple II franchise, left, along with other critical employees; the Mac launch failed commercially; Apple faced severe financial pressure; Jobs was exiled; and John Sculley took over (eventually rescuing the Mac and restoring financial stability). When Jobs returned twelve years later, he had learned to love his artists (Jony Ive) and soldiers (Tim Cook) equally. Although equal-opportunity respect is a rare skill by nature, it can be nurtured with practice (more on this in chapter 5). Manage the transfer, not the technology Bush, although a brilliant inventor and engineer, pointedly stayed out of the details of any one loonshot.

Elevating Jobs first to interim CEO in mid-1997 and then to full-time CEO in early 1998 was viewed as a Hail Mary play, and one with a particularly small chance of saving the company. The many failed promises of NeXT had reduced Jobs’s credibility as a technology leader in the eyes of industry analysts and observers. When Jobs finally took over, gone was the dismissive attitude toward soldiers. In March 1998, he hired Tim Cook, known as the “Attila the Hun of inventory,” from Compaq to run operations. Also gone were the blinders to S-type loonshots. For example, by 2001 music piracy on the internet was rampant. The idea of an online store selling what could easily be downloaded for free seemed absurd. And no one sold music online that customers could keep on their own computers (online music, at the time, was available only through subscription: monthly fees for streaming songs).


pages: 335 words: 97,468

Uncharted: How to Map the Future by Margaret Heffernan

23andMe, Affordable Care Act / Obamacare, Airbnb, Anne Wojcicki, anti-communist, Atul Gawande, autonomous vehicles, banking crisis, Berlin Wall, Boris Johnson, chief data officer, Chris Urmson, clean water, complexity theory, conceptual framework, cosmic microwave background, creative destruction, crowdsourcing, David Attenborough, discovery of penicillin, epigenetics, Fall of the Berlin Wall, fear of failure, George Santayana, gig economy, Google Glasses, index card, Internet of things, Jaron Lanier, job automation, Kickstarter, late capitalism, lateral thinking, Law of Accelerating Returns, liberation theology, mass immigration, mass incarceration, Murray Gell-Mann, Nate Silver, obamacare, oil shale / tar sands, passive investing, pattern recognition, Peter Thiel, prediction markets, RAND corporation, Ray Kurzweil, Rosa Parks, Sam Altman, Shoshana Zuboff, Silicon Valley, smart meter, Stephen Hawking, Steve Ballmer, Steve Jobs, surveillance capitalism, The Signal and the Noise by Nate Silver, Tim Cook: Apple, twin studies, University of East Anglia

The founder of Bulletproof Coffee is equally obsessed by the importance of his own life: ‘The Bulletproof Coffee Founder Has Spent $1 Million in His Quest to Live to 180’, www.menshealth.com/­health/­a25902826/­bulletproof-dave-asprey-biohacking/ 9 2019 commencement address by Apple CEO Tim Cook at Stanford University, news.stanford.edu/­2019/­06/­16/­remarks-tim-cook-2019-stanford-commencement, accessed 8 August 2019 10 The hospice movement proved a tremendous ally to the gay community during the AIDS crisis 10 BE PREPARED 1 The World Health Organization considers the death toll of 11,310 to be a significant under-estimate.

Why is he, like fellow transhumanists Peter Thiel and Sam Altman, so uninterested in real problems, like the fall in life expectancy, even in rich countries like the United States? Or the immediate climate crisis that could, after all, make eternal life pretty miserable? The vision feels literally disembodied and strangely inhuman. Was it these technologists that Tim Cook had in mind when he said: ‘You cannot possibly be the greatest cause on the earth, because you aren’t built to last’?9 These men seem incapable of imagining a world being any good without them. Is that the bug they’re trying to fix? The transhumanist world is largely white, male, middle-aged and middle-class.

We used to ignore these systems but their problems have become ours now, when a bank halfway across the world crashes or a government falls. Apple’s iPhone may have been ‘designed in California’, but making it depends on raw materials and suppliers from Ireland, the Philippines, China, Taiwan, Japan, Austria, Korea, Singapore, Thailand, Germany, the UK, the Netherlands, Indonesia, Puerto Rico, Brazil, Malaysia, Israel, the Czech Republic, Mexico, Vietnam, Morocco, Malta, Belgium and most of the United States. This complex supply chain is designed to reduce costs, take advantage of labour specialisms, employment conditions, currency fluctuations and tax breaks. But they expose Apple (and similar phone manufacturers) to natural disasters, labour disputes, economic volatility, social turmoil, religious strife, trade wars and political discontent: all factors over which the company has no control, little influence and poor foresight.


pages: 56 words: 16,788

The New Kingmakers by Stephen O'Grady

AltaVista, Amazon Web Services, barriers to entry, cloud computing, correlation does not imply causation, crowdsourcing, David Heinemeier Hansson, DevOps, Jeff Bezos, Khan Academy, Kickstarter, Marc Andreessen, Mark Zuckerberg, Netflix Prize, Paul Graham, Ruby on Rails, Silicon Valley, Skype, software as a service, software is eating the world, Steve Ballmer, Steve Jobs, The future is already here, Tim Cook: Apple, Y Combinator

Even its forgotten desktop business is showing steady if unspectacular growth. There are many factors contributing to Apple’s remarkable success, from the brilliance of the late Steve Jobs to the supply chain sophistication of current CEO Tim Cook. And of course, Apple’s success is itself fueling more success. In the tablet market, for example, would-be competitors face not only the daunting task of countering Apple’s unparalleled hardware and software design abilities, but the economies of scale that allow Apple to buy components more cheaply than anyone else. The perfect storm of Apple’s success is such that some analysts are forecasting that it could become the world’s first trillion-dollar company.

Here are five businesses that, in at least one area, understood the importance of developers and engaged appropriately. Apple In August 2011, a month after reporting record earnings, Apple surpassed Exxon as the world’s biggest company by market capitalization. This benchmark was reached in part because of fluctuations in oil price that affected Exxon’s valuation, but there’s little debate that Apple is ascendant. By virtually any metric, Steve Jobs’s second tenure at Apple has turned into one of the most successful in history, in any industry. Seamlessly moving from hit product to hit product, the Apple of 2012 looks nothing like the Apple of the late nineties, when Dell CEO Michael Dell famously suggested that Apple should be shut down, to “give the money back to the shareholders.”

Lost in the shuffle has been the role of developers in Apple’s success. But while the crucial role played by Apple’s developers in the company’s success might be lost on the mainstream media, it is not lost on Apple itself. In March 2012, Apple dedicated the real estate on its website to the following graphic. Setting aside the 25 billion applications milestone for a moment, consider the value of the home page. For a major retailer to devote the front page of a website to anything other than product is unusual. This action implies that Apple expects to reap tangible benefits from thanking its developers—most notably when it comes to recruiting additional developers.


pages: 240 words: 78,436

Open for Business Harnessing the Power of Platform Ecosystems by Lauren Turner Claire, Laure Claire Reillier, Benoit Reillier

Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, barriers to entry, basic income, blockchain, carbon footprint, Chuck Templeton: OpenTable:, cloud computing, collaborative consumption, commoditize, crowdsourcing, Diane Coyle, disintermediation, distributed ledger, future of work, George Akerlof, independent contractor, intangible asset, Internet of things, Jean Tirole, Jeff Bezos, Kickstarter, knowledge worker, Lean Startup, Lyft, Mark Zuckerberg, market design, Metcalfe’s law, minimum viable product, multi-sided market, Network effects, Paul Graham, peer-to-peer lending, performance metric, Peter Thiel, platform as a service, price discrimination, profit motive, ride hailing / ride sharing, Sam Altman, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, smart contracts, Snapchat, software as a service, Steve Jobs, Steve Wozniak, TaskRabbit, The Market for Lemons, Tim Cook: Apple, transaction costs, two-sided market, Uber and Lyft, uber lyft, universal basic income, Y Combinator

These outsourcing decisions do not fundamentally alter the business model of the company, however, since it keeps tight control over the end-to-end production process of its devices. 18 Statista, June 2016, www.statista.com/statistics/276623/number-of-apps-available-inleading-app-stores/. 19 If you want to better understand the nature of this ‘governance’, you may want to have a look at the App Store guidelines for app developers: https://developer.apple.com/appstore/review/guidelines/. 20 Apple’s services include the various app stores, as well as iTunes, iCloud, Apple Music, Apple Pay, Apple Care, licensing and other services. 21 Fiscal data from Apple’s website, www.apple.com/pr/library/2016/. 22 http://uk.businessinsider.com/apple-ceo-tim-cook-services-q3-2016-7. 23 Apple announced in June 2016 that this 30% figure could go down to 15% (with 85% going to developers) in some circumstances. See www.theverge.com/2016/6/8/ 11880730/apple-app-store-subscription-update-phil-schiller-interview. 24 Horace Dediu, Asymco (2014), www.asymco.com/, www.asymco.com/2015/08/26/muchbigger-than-hollywood/ and www.asymco.com/2015/01/22/bigger-than-hollywood/. 72 Platform-powered ecosystems 25 At the developer level, Apple now allows third-party developers to plug into Siri across multiple operating systems (iOS, tvOS and macOS).

A closer review of revenues generated by Apple’s non-hardware activities since 2005 shows how apps, which were responsible for only a fraction of Apple’s revenues in 2008, are now a multibillion-dollar business. In fact, Tim Cook expects that it will be ‘the size of a Fortune 100 company by the end of 2017’.22 And this, of course, excludes the amount of money that was paid to the developers of these apps (Apple keeps 30% of the price paid for the apps sold on its App Store).23 When looking at total App Store billings (what customers actually spend), Figure 6.5 shows that they are now larger than Hollywood’s US box office revenues and are likely to overtake Hollywood’s global box office revenues in 2016.24 Apple has been able to match different business models to different activities in order to design a self-reinforcing business architecture.

Through 64 Platform-powered ecosystems Figure 6.3 Apple’s main business lines Source: Apple website, Wikipedia, Launchworks analysis Table 6.2 Apple’s ecosystem APPLE Apple hardware (iPhone, MacBook, iPad, Apple Watch) Apple Operating Systems (iOS, macOS, Watch OS) Digital Stores (iTunes, Apple Music) App stores (iOS, Mac) Cloud services (iCloud) Apple software (iMovie, iPhoto) Platform Retailer/ Reseller Input/Output business 3 3 3 3 3 3 Source: Launchworks analysis its operating systems and app stores for computers, mobile phones, tablets and wearables, Apple manages a two-sided platform between consumers and software providers. This model fosters a diverse range of software applications. As of June 2016, Apple’s App Store had more than 2 million applications.18 It is interesting to note that Apple, unlike other marketplaces, remains very keen to control the experience of its products end-to-end, and has therefore maintained strong governance around its businesses.


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Thinking Machines: The Inside Story of Artificial Intelligence and Our Race to Build the Future by Luke Dormehl

Ada Lovelace, agricultural Revolution, AI winter, Albert Einstein, Alexey Pajitnov wrote Tetris, algorithmic trading, Amazon Mechanical Turk, Apple II, artificial general intelligence, Automated Insights, autonomous vehicles, backpropagation, book scanning, borderless world, call centre, cellular automata, Claude Shannon: information theory, cloud computing, computer vision, correlation does not imply causation, crowdsourcing, drone strike, Elon Musk, Flash crash, friendly AI, game design, global village, Google X / Alphabet X, hive mind, industrial robot, information retrieval, Internet of things, iterative process, Jaron Lanier, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, John von Neumann, Kickstarter, Kodak vs Instagram, Law of Accelerating Returns, life extension, Loebner Prize, Marc Andreessen, Mark Zuckerberg, Menlo Park, natural language processing, Norbert Wiener, out of africa, PageRank, pattern recognition, Ray Kurzweil, recommendation engine, remote working, RFID, self-driving car, Silicon Valley, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, social intelligence, speech recognition, Stephen Hawking, Steve Jobs, Steve Wozniak, Steven Pinker, strong AI, superintelligent machines, technological singularity, The Coming Technological Singularity, The Future of Employment, Tim Cook: Apple, too big to fail, Turing machine, Turing test, Vernor Vinge, Watson beat the top human players on Jeopardy!

Get Ready for the Internet to Disappear In January 2015, Google’s executive chairman Eric Schmidt caused a stir while speaking at the World Economic Forum in Davos, Switzerland. Asked about his predictions for the future of the Web, Schmidt said, ‘I will answer very simply that the Internet will disappear.’ There was, of course, nothing simple about this answer. Upon first listen, it was a bit like Apple CEO Tim Cook telling people that they should put down the smartphones and have a face-to-face conversation with friends, or a movie studio boss saying that cinema is stuck in a rut and people ought to spend their time reading books or going for walks. In reality, Schmidt was saying nothing of the kind. Instead, he was making an observation about what has happened to technology in recent years as it has become both smaller and more pervasive.

The sounds of classic rock and roll – which extrapolated ideas from the rhythm and blues music of the 1940s – make sense to a 1955 audience. Heavy metal music, which did the same to ideas from 1960s and 70s rock music, made no sense. However, the act of simply combining ideas by themselves is not necessarily creative, even if the result is novel. As Apple’s CEO Tim Cook has said about unnecessary invention, ‘You can converge a toaster and a refrigerator, but you know those things are not going to probably be pleasing to the user.’ One of my favourite movies of all time is a film by Robert Altman called The Player, a satire on Hollywood and its sometimes lack of creativity.

Like Google, Facebook and other tech companies, Apple has competed fiercely to hire AI experts in recent years. According to a former Apple employee, the company’s number of machine learning experts has tripled or quadrupled in the past several years. As with these other companies, Apple uses humans as part of its largely AI-driven services. However, unlike the other companies, Apple presents its human workers as a selling point; not simply as a stand-in for the bits of its technology which don’t quite work properly yet. When Apple introduced its much-anticipated Apple Music streaming service in June 2015, one of its most heavily advertised features was its reliance on humans with specialist music knowledge to curate playlists.


pages: 254 words: 79,052

Evil by Design: Interaction Design to Lead Us Into Temptation by Chris Nodder

4chan, affirmative action, Amazon Mechanical Turk, cognitive dissonance, crowdsourcing, Daniel Kahneman / Amos Tversky, Donald Trump, en.wikipedia.org, endowment effect, game design, haute couture, Ian Bogost, jimmy wales, Jony Ive, Kickstarter, late fees, loss aversion, Mark Zuckerberg, meta-analysis, Milgram experiment, Monty Hall problem, Netflix Prize, Nick Leeson, Occupy movement, pets.com, price anchoring, recommendation engine, Rory Sutherland, Silicon Valley, Stanford prison experiment, stealth mode startup, Steve Jobs, sunk-cost fallacy, telemarketer, Tim Cook: Apple, trickle-down economics, upwardly mobile

Use self-generated persuasion. Apple fans are the company’s best salespeople. Hype and limited initial availability lead to total strangers asking early adopters how they like their new toy. It’s unlikely these avid fans are going to say, “I hate it!” 6. Construct vivid appeals. New products are demonstrated on-stage using a few select applications that show off the key elements of the product in an emotionally compelling manner (editing vacation photos, planning an exciting event, and so on). 7. Use pre-persuasion. Apple often shies away from direct technical comparison with competitors. Indeed, CEO Tim Cook said, “[Product specifications] are the things tech companies invent because they can’t provide a great experience.”

Pratkanis’ techniques: Anthony R. Pratkanis. “How to Sell a Pseudoscience.” Skeptical Inquirer T9 (1995). Tim Cook quote: Goldman Sachs Technology and Internet conference, February 12, 2013. BBC Superbrands documentary: Alex Riley and Adam Boome. “Superbrands' success fuelled by sex, religion and gossip” BBC (bbc.co.uk). May 16, 2011. Retrieved December 2012. Kirsten Bell’s observations: Francie Diep. “Why Apple Is the New Religion.” TechNewsDaily (technewsdaily.com). Oct 23 2012. Retrieved December 2012. Apple as religion: Pui-Yan Lam. “May the Force of the Operating System be with You: Macintosh Devotion as Implicit Religion.”

The newer influx of Apple users may have diluted the original fervor of Mac devotees, but it’s still possible to see rationalization at work just by starting a discussion of the relative value-per-dollar of Apple computers versus generic PCs. 3. Manufacture source credibility and sincerity. Steve Jobs, the now-deceased father of Apple, has been replaced by head designer Jony Ive as the spiritual leader of the Apple clan. 4. Establish a granfalloon. Enter any Apple store to see ritual, symbolism, and feelings at work creating a feeling of belonging for the in-group of Apple users. Door greeters might as well be saying, “Welcome home.” 5.


pages: 250 words: 64,011

Everydata: The Misinformation Hidden in the Little Data You Consume Every Day by John H. Johnson

Affordable Care Act / Obamacare, Black Swan, business intelligence, Carmen Reinhart, cognitive bias, correlation does not imply causation, Daniel Kahneman / Amos Tversky, Donald Trump, en.wikipedia.org, Kenneth Rogoff, labor-force participation, lake wobegon effect, Long Term Capital Management, Mercator projection, Mercator projection distort size, especially Greenland and Africa, meta-analysis, Nate Silver, obamacare, p-value, PageRank, pattern recognition, publication bias, QR code, randomized controlled trial, risk-adjusted returns, Ronald Reagan, selection bias, statistical model, The Signal and the Noise by Nate Silver, Thomas Bayes, Tim Cook: Apple, wikimedia commons, Yogi Berra

Ever,” Flowing Data website, accessed August 4, 2015. http://flowingdata.com/2009/11/26/fox-news-makes-the-best-pie-chart-ever/. The pie chart was aired on Fox Chicago, and the source was given as Opinion Dynamics. 12. David Yanofsky, “The Chart Tim Cook Doesn’t Want You to See,” Quartz website, September 10, 2013, http://qz.com/122921/the-chart-tim-cook-doesnt-want-you-to-see/. 13. For a stunning look at how data can be captured, check out www.dear-data.com—“a year-long, analog data drawing project” by two extremely talented information designers: Giorgia Lupi and Stefanie Posavec, “Dear Data,” accessed June 7, 2015, http://www.dear-data.com/. 14.

Finally, identify outliers, and understand the impact they can have on your average. Some outliers are perfectly valid parts of the data set. Other times, it makes sense to exclude extreme examples in order to get a fair answer to the question you’re asking. One bad apple can spoil the bunch, as they say. Not every outlier is a bad apple—but an outlier can skew your results in a way you need to be aware of.46 4 Are You Smarter Than an iPhone-Using, Radiohead-Loving Republican? Understanding Correlation Versus Causation As any self-respecting parent will tell you, there’s a lot of pressure to make sure little Susie and Johnny are smarter than their classmates.

For example, Starbucks chief creative officer and president of Global Innovation and Evolution Fresh Retail (and former director of real estate) Arthur Rubinfeld has written an entire book on how everyday franchisees can learn the lessons of Starbucks with respect to site selection; his secrets include looking for oil stains in the parking lot (a sign that there’s lots of traffic).18 Maybe a Starbucks location is more likely to have sidewalks, and people like living where there are sidewalks. Maybe every time a Starbucks opens, an Apple Store opens next door—and that’s what is driving the rise in real estate prices. We don’t know. And that’s the point. OMITTED VARIABLES All of these factors—town centers, sidewalks, Apple Stores—are possible omitted variables. An omitted variable is one of the primary reasons why correlation doesn’t equal causation. Remember when we talked about bivariate relationships—relationships between two variables?


pages: 625 words: 167,349

The Alignment Problem: Machine Learning and Human Values by Brian Christian

Albert Einstein, algorithmic bias, Amazon Mechanical Turk, artificial general intelligence, augmented reality, autonomous vehicles, backpropagation, butterfly effect, Cass Sunstein, Claude Shannon: information theory, computer vision, Donald Knuth, Douglas Hofstadter, effective altruism, Elon Musk, game design, Google Chrome, Google Glasses, Google X / Alphabet X, Gödel, Escher, Bach, hedonic treadmill, ImageNet competition, industrial robot, Internet Archive, John von Neumann, Joi Ito, Kenneth Arrow, longitudinal study, mandatory minimum, mass incarceration, natural language processing, Norbert Wiener, Panopticon Jeremy Bentham, pattern recognition, Peter Singer: altruism, Peter Thiel, premature optimization, RAND corporation, recommendation engine, Richard Feynman, Rodney Brooks, Saturday Night Live, selection bias, self-driving car, side project, Silicon Valley, speech recognition, Stanislav Petrov, statistical model, Steve Jobs, strong AI, the map is not the territory, theory of mind, Tim Cook: Apple, zero-sum game

Some movements are made; . . . but the first actions are seen to be quite wrong; there is a manifest want of coincidence, which originates a new attempt, and that failing, another is made, until at last we see that the posture is hit. —ALEXANDER BAIN45 What would I do? I wouldn’t be in the situation. —APPLE CEO TIM COOK, WHEN ASKED WHAT HE WOULD DO IN THE SITUATION CONFRONTING FACEBOOK CEO MARK ZUCKERBERG46 It’s 2009, and twenty years after ALVINN but in the very same building, Carnegie Mellon graduate student Stéphane Ross is playing Super Mario Kart—or, rather, a free and open-source derivative called SuperTuxKart, featuring the Linux mascot, a lovable penguin named Tux.

“Interpretability Beyond Feature Attribution: Quantitative Testing with Concept Activation Vectors (TCAV).” In Proceedings of the 35th International Conference on Machine Learning, edited by Jennifer Dy and Andreas Krause, 2668–77. PMLR, 2018. Kimball, Spencer, and Paayal Zaveri. “Tim Cook on Facebook’s Data-Leak Scandal: ‘I Wouldn’t Be in This Situation.’” CNBC, March 28, 2018. https://www.cnbc.com/2018/03/28/tim-cook-on-facebooks-scandal-i-wouldnt-be-in-this-situation.html. Kindermans, Pieter-Jan, Sara Hooker, Julius Adebayo, Maximilian Alber, Kristof T. Schütt, Sven Dähne, Dumitru Erhan, and Been Kim. “The (Un)reliability of Saliency Methods.” arXiv Preprint arXiv:1711.00867, 2017.

See also Pomerleau, “Knowledge-Based Training of Artificial Neural Networks for Autonomous Robot Driving”: “Autonomous driving has the potential to be an ideal domain for a supervised learning algorithm like backpropagation since there is a readily available teaching signal or ‘correct response’ in the form of the human driver’s current steering direction.” 44. The course was Sergey Levine’s CS294-112, Deep Reinforcement Learning; this lecture, “Imitation Learning,” was delivered on December 3, 2017. 45. Bain, The Senses and the Intellect. 46. Kimball and Zaveri, “Tim Cook on Facebook’s Data-Leak Scandal.” 47. Ross and Bagnell, in “Efficient Reductions for Imitation Learning,” discuss their architecture choice: a three-layer neural network taking in 24-by-18-pixel color images, with 32 hidden units and 15 output units. Pomerleau, “Knowledge-Based Training of Artificial Neural Networks for Autonomous Robot Driving,” discusses the architecture of ALVINN, made from a three-layer neural network taking in 30-by-32-pixel black-and-white images, with 4 hidden units and 30 output units. 48.


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Company of One: Why Staying Small Is the Next Big Thing for Business by Paul Jarvis

Airbnb, big-box store, Cal Newport, call centre, corporate social responsibility, David Heinemeier Hansson, effective altruism, Elon Musk, en.wikipedia.org, endowment effect, follow your passion, gender pay gap, glass ceiling, Inbox Zero, independent contractor, index fund, job automation, Kickstarter, Lyft, Mark Zuckerberg, Naomi Klein, passive investing, Paul Graham, pets.com, remote work: asynchronous communication, remote working, Results Only Work Environment, ride hailing / ride sharing, Ruby on Rails, side project, Silicon Valley, Skype, Snapchat, software as a service, Steve Jobs, supply-chain management, Tim Cook: Apple, too big to fail, uber lyft, web application, Y Combinator, Y2K

Petitions and boycotts quickly went up online, with thousands of ex-customers, feeling betrayed by the change in the core values on which Daiya had been founded, signing on within days of the announcement. Several retailers, like Portland’s Food Fight and Brooklyn’s Orchard Grocer, stopped selling Daiya immediately. Within hours, over 6,000 people signed a petition to boycott the brand. Bear in mind that Daiya is not just an isolated incident. When Apple released its bug-filled maps software, CEO Tim Cook had to issue a public apology. When United Airlines yanked a customer from his paid-for seat, the internet exploded, and United stock plummeted by a market value of about $1 billion. When Nivea staged an ill-conceived “White Is Purity” campaign that was quickly embraced by white supremacy groups (not their target audience), the company saw a huge backlash from consumers who felt that the ad was overtly racist.

Next, customers need to admire your “whole person”—not just how you act when you’re trying to sell them something. What charities do you support? How do you act outside of work? With everyone sharing everything on social media, your entire life is available to anyone with access to Google. CEOs are sharing the news when their own babies are born (like Mark Zuckerberg or Marissa Mayer). Tim Cook, an incredibly private man, shared an essay about being gay and campaigns against anti-transgender laws. Customers admire businesses that feel and act similarly to them. Admiration develops when you do this well, and once you have their admiration, customers develop an interest in your success and accomplishments instead of a sense of resentment or jealousy.

As a small business or one that isn’t aiming to grow rapidly, you can use polarization to provide an avenue for reaching your potential audience—without massive advertising spends or paid user acquisition—by getting people talking. Think back to before Apple was a monolith in the tech industry, when it was a tiny company going up against the giant IBM. In a now-famous Apple television advertisement—an homage to George Orwell’s classic book 1984—a hero battles against conformity and “Big Brother.” The ad was so controversial and different from all the other ads at the time that all the cable news outlets picked it up after it first aired and re-aired it for free as a news story. By being different, Apple ended up selling $3.5 million worth of its new Macintoshes just after the ad first ran.


Calling Bullshit: The Art of Scepticism in a Data-Driven World by Jevin D. West, Carl T. Bergstrom

airport security, algorithmic bias, Amazon Mechanical Turk, Andrew Wiles, bitcoin, cloud computing, computer vision, correlation coefficient, correlation does not imply causation, crowdsourcing, cryptocurrency, delayed gratification, disinformation, Dmitri Mendeleev, Donald Trump, Elon Musk, epigenetics, Estimating the Reproducibility of Psychological Science, experimental economics, invention of the printing press, John Markoff, longitudinal study, Lyft, meta-analysis, new economy, p-value, Pluto: dwarf planet, publication bias, RAND corporation, randomized controlled trial, replication crisis, ride hailing / ride sharing, Ronald Reagan, selection bias, self-driving car, Silicon Valley, Silicon Valley startup, social graph, Socratic dialogue, Stanford marshmallow experiment, statistical model, stem cell, superintelligent machines, the scientific method, theory of mind, Tim Cook: Apple, twin studies, Uber and Lyft, Uber for X, uber lyft, When a measure becomes a target

With the exact same data, The Washington Post subsequently redrew the figure, zooming in to a more appropriate range. The temperature increase that leaps out of that chart tells a different story. The Internet news site Quartz used this technique to strong effect when, in 2013, Apple CEO Tim Cook gave a presentation about iPhone sales. Below is a version of the graph that Cook showed: This graph looks quite impressive; it seems as if Apple is taking over the world with the iPhone as cumulative sales go up and up and up. But of course cumulative sales go up—cumulative sales can’t go down! What the graph hides is the fact that quarterly iPhone sales had been declining for at least the past two quarters prior to Cook’s presentation.

April 4, 2018. https://kuow.org/​stories/​driving-downtown-seattle-you-may-soon-have-pay-toll/. Tatem, A. J., C. A. Guerra, P. M. Atkinson, and S. I. Hay. “Athletics: Momentous Sprint at the 2156 Olympics?” Nature 431 (2004): 525. Yanofsky, David. “The Chart Tim Cook Doesn’t Want You to See.” Quartz. September 10, 2013. https://qz.com/​122921/​the-chart-tim-cook-doesnt-want-you-to-see/. BY CARL T. BERGSTROM AND JEVIN D. WEST Calling Bullshit BY CARL T. BERGSTROM Evolution (with Lee Alan Dugatkin) ABOUT THE AUTHORS CARL T. BERGSTROM is an evolutionary biologist and professor in the Department of Biology at the University of Washington, where he studies how epidemics spread through populations and how information flows through biological and social systems at scales—from the intracellular control of gene expression to the spread of misinformation on social media.

The asterisk directs us to small print reading “5 grams of fat per 30 gram serving compared to 7 grams of fat in the average of the leading chocolate candy brands.” Here’s an example of a number provided without enough context to be meaningful. What brands are chosen as comparators? Is this an apples-to-apples comparison or are we comparing chocolate-covered malt balls to straight chocolate bars? How about sugar? Refined sugar may be a bigger health concern than fat; are Whoppers higher or lower in sugar? Are there other bad ingredients we should be concerned about? And so on, and so forth. The 25 percent figure sounds like an important nutritional metric, but it is really just meaningless numerosity.


pages: 302 words: 80,287

When the Wolves Bite: Two Billionaires, One Company, and an Epic Wall Street Battle by Scott Wapner

activist fund / activist shareholder / activist investor, asset allocation, Bear Stearns, Bernie Madoff, corporate governance, corporate raider, Credit Default Swap, independent contractor, Mark Zuckerberg, Ponzi scheme, price discrimination, Ronald Reagan, short selling, Silicon Valley, Tim Cook: Apple, unbiased observer

In a little more than six months, Cheniere shares lost 50 percent of their value from where Icahn had bought in. Investments in Freeport-McMoRan and Hertz had also fallen hard. Even Icahn’s top horse, Apple, which had been a home-run investment, hadn’t been cooperating lately. Icahn had revealed the position back in August 2013 when he tweeted, “We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come.” The news had sent Wall Street into a full-fledged frenzy. Apple wasn’t just any stock; it was the market’s crown jewel and the biggest company on Earth by market cap. Back in September 2012, shares had hit an all-time intraday high of $705, but had recently fallen on hard times as investors began to worry about Apple’s margins and the pace of iPhone sales.

Four minutes later, Icahn sent a second tweet that read, “Had a nice conversation with [CEO] Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.” Icahn had called Cook before going public out of respect for the CEO and to give him a head’s up about what was about to hit the tape. Cook was in a meeting at the time and called Icahn back when he got out, finding the investor to be direct but cordial. Icahn said he wanted a large buyback and in short order. Cook explained that Apple had begun returning money to shareholders in 2012 after a long period of not doing so, had already expanded the program earlier in the year, and remained committed to the process, though at its own pace.

Icahn had spent decades sparring with large companies, often urging them to buy back their own shares or add new board members, but Apple represented something different. It was the richest company on Earth, and even though Icahn could only do so much given Apple’s size, he proved unafraid to take on the giant. Icahn even pledged to hold onto his shares, saying in the letter, “There is nothing short-term about my intentions here.” On October 28, 2013, Apple reported strong earnings, but margins fell to 37 percent, down from 40 percent the prior year. Shares fell 4 percent after hours when the numbers hit. For the year, Apple shares still closed up 5.5 percent. But on January 28, 2014, Apple suffered its worst one-day stock performance in months, with shares dropping 8 percent as a result of disappointing iPhone sales.


pages: 460 words: 130,820

The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion by Eliot Brown, Maureen Farrell

"side hustle", activist fund / activist shareholder / activist investor, Adam Neumann (WeWork), Airbnb, Bear Stearns, Bernie Madoff, Burning Man, cloud computing, coronavirus, corporate governance, Covid-19, COVID-19, don't be evil, Donald Trump, East Village, Elon Musk, future of work, gender pay gap, global pandemic, global supply chain, Google Earth, Gordon Gekko, greed is good, hockey-stick growth, housing crisis, index fund, Internet Archive, Internet of things, Jeff Bezos, Lyft, Mark Zuckerberg, Maui Hawaii, Network effects, new economy, Peter Thiel, pets.com, post-oil, railway mania, ride hailing / ride sharing, rolodex, San Francisco homelessness, Sand Hill Road, self-driving car, sharing economy, side project, Silicon Valley, Silicon Valley startup, smart cities, Snapchat, software as a service, sovereign wealth fund, starchitect, Steve Jobs, super pumped, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, WeWork, women in the workforce, Y Combinator, Zipcar

He’d met Ruth Porat, Google’s CFO, and both he and Bruce Dunlevie tried to persuade her to join WeWork’s board, to no avail. He hotly pursued a meeting with Tim Cook, CEO of Apple. Neumann and his lieutenants pitched Apple on the idea that a supercharged version of the WeWork key card could be tied into the iPhone. Eventually, Cook agreed to a meeting, and Neumann was so excited he asked aides if he should get his hair done, noting that Cook was gay. Still, nothing concrete resulted from these meetings—not from Google, not from Apple, and not even from another startup closer to WeWork in age and valuation: Airbnb. In multiple meetings with the San Francisco home rental startup, Neumann pitched Airbnb’s CEO, Brian Chesky, on a plan to reinvigorate WeLive and spread it around the world.

By 2012, the itch had returned. Son yearned to become a force in the United States again. He turned back to his mobile phone playbook and started trying to buy both Sprint and T-Mobile—a move to compete against AT&T and Verizon. He announced a $21.6 billion deal in late 2012 for 70 percent of Sprint. Apple’s Tim Cook and others assured him that a deal to buy T-Mobile as well would pass muster with U.S. regulators, he told others. As if to announce his return to the Silicon Valley elite, Son bought one of the most expensive houses ever sold in the country, spending $117 million for a nine-acre estate in Woodside, California, a stone’s throw from the epicenter of venture capital on Sand Hill Road.

Aiming to modernize his country and diversify Saudi Arabia away from oil, Prince Mohammed was plunging money into the U.S. startup scene, not only via the Vision Fund but also through investments in companies like Lucid Motors, an electric car company. The techno-optimist was happily received by top venture capitalists and tech giant CEOs. Tim Cook of Apple, Sergey Brin and Sundar Pichai of Google, and Mark Zuckerberg of Facebook were all photographed with him. Neumann managed to secure his own meeting. On a stop in Los Angeles, Prince Mohammed was holding court at a mansion, sitting down with people like Oprah Winfrey. Neumann and Roni Bahar traveled there and met with the crown prince as well as the head of the PIF, Yasir al-Rumayyan, for around an hour.


pages: 239 words: 80,319

Lurking: How a Person Became a User by Joanne McNeil

4chan, A Declaration of the Independence of Cyberspace, Ada Lovelace, Airbnb, AltaVista, Amazon Mechanical Turk, Burning Man, Chelsea Manning, Chris Wanstrath, citation needed, cloud computing, crowdsourcing, delayed gratification, dematerialisation, disinformation, don't be evil, Donald Trump, drone strike, Edward Snowden, Elon Musk, feminist movement, Firefox, Google Earth, Google Glasses, Google Hangouts, helicopter parent, Internet Archive, invention of the telephone, Jeff Bezos, jimmy wales, Kim Stanley Robinson, l'esprit de l'escalier, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, means of production, Menlo Park, Mondo 2000, moral panic, move fast and break things, move fast and break things, Network effects, packet switching, PageRank, pre–internet, profit motive, QAnon, recommendation engine, Saturday Night Live, Shoshana Zuboff, Silicon Valley, slashdot, Snapchat, social graph, Stephen Hawking, Steve Jobs, Steven Levy, Stewart Brand, surveillance capitalism, technoutopianism, Ted Nelson, Tim Cook: Apple, trade route, Turing complete, We are the 99%, web application, white flight, Whole Earth Catalog, you are the product

Amazon, with its books-to-Mars trajectory, demonstrates the limitlessness of American avarice and exploitation, while for libraries to offer not only books but also suit jackets and bicycles upholds in perfect opposition the limitless spirit of compassion and generosity to those in need—a spirit that is curtailed only by the reality of municipal budgets. Apple has even set up shop in an old library. You can upgrade your phone at the Apple Carnegie Library in Washington, D.C., which opened in 2019. As Tim Cook announced, the company will “continue the legacy of this beautiful building as a place where people seek knowledge and a sense of community.” Once it was home to ninety-five thousand volumes; now a customer can purchase a laptop there for three thousand dollars. Then again, there’s a reason why it wasn’t called the Central Public Library when Apple took over. Its very name—Apple Carnegie Library—demonstrates a problem older than the personal computer.

He is constantly making comments like “Every time you buy shoes, you’re helping fund Blue Origin,” as he did at the Yale Club in New York in 2019; the transcript of this conversation is available at Business Insider (“Jeff Bezos Just Gave a Private Talk in New York. From Utopian Space Colonies to Dissing Elon Musk’s Martian Dream, Here Are the Most Notable Things He Said,” February 23, 2019). Tim Cook’s announcement about the Apple Carnegie Library comes from a post to his Twitter account on May 1, 2019. The library held ninety-five thousand volumes according to The Washington Post (Judith Valente, “UDC Opens $4.2 Million Library, But Its Campus Not Likely to Be Built,” December 11, 1980). Andrew Carnegie’s philanthropy “was certainly not unimpeachable—it was often warped by his own ego and eccentricity—but we don’t need to idealize it in order to admire elements of it, especially his library campaign,” Benjamin Soskis wrote in a piece about the complicated history of the library for Boston Review (“Apple’s Newest Store and the Perverse Logic of Philanthro-Capitalism,” May 21, 2019).

* * * Around the time of its first smartphone launch in 2007, it was possible, if unwise, to talk about Apple as an underdog, and adopt the corporation’s own narrative, a holdover since its famous 1984-inspired Super Bowl commercial, directed by Ridley Scott, featuring a spry bleached blonde racing to attack “Big Brother” with a sledgehammer. In 2007, Apple was ranked 367 on Fortune’s Global 500. Ten years later, it was ninth on the list (between Berkshire Hathaway and Exxon Mobil). With the iPhone, Apple was off to the races: in 2010, Apple sold almost forty million devices, and by 2014, sales were just shy of 170 million. Now the figure is north of two hundred million new Apple phones each year.


pages: 309 words: 81,243

The Authoritarian Moment: How the Left Weaponized America's Institutions Against Dissent by Ben Shapiro

active measures, affirmative action, Affordable Care Act / Obamacare, Amazon Web Services, Bernie Sanders, coronavirus, Covid-19, COVID-19, crowdsourcing, delayed gratification, disinformation, don't be evil, Donald Trump, Ferguson, Missouri, future of work, gender pay gap, global pandemic, Herbert Marcuse, hiring and firing, illegal immigration, income inequality, Intergovernmental Panel on Climate Change (IPCC), Mark Zuckerberg, mass incarceration, microaggression, mutually assured destruction, New Journalism, obamacare, Robert Bork, Ronald Reagan, Saturday Night Live, Silicon Valley, Snapchat, Steven Pinker, the scientific method, Tim Cook: Apple, War on Poverty, yellow journalism

Doug McMillon, “Advancing Our Work on Racial Equity,” Walmart.com, June 12, 2020, https://corporate.walmart.com/newsroom/2020/06/12/advancing-our-work-on-racial-equity. 3. Rachel Lerman and Todd C. Frenkel, “Retailers and restaurants across the US close their doors amid protests,” WashingtonPost.com, June 1, 2020, https://www.washingtonpost.com/technology/2020/06/01/retailers-restaurants-across-us-close-their-doors-amid-protests/. 4. Tim Cook, “Speaking up on racism,” Apple.com, https://www.apple.com/speaking-up-on-racism/. 5. Mitchell Schnurman, “‘Silence is not an option’: What CEOs are saying about racial violence in America,” DallasNews.com, June 7, 2020, https://www.dallasnews.com/business/commentary/2020/06/07/silence-is-not-an-option-what-ceos-are-saying-about-racial-violence-in-america/. 6.

McMillon pledged more minority hiring, “listening, learning and elevating the voices of our Black and African American associates,” and spending $100 million to “provide counsel across Walmart to increase understanding and improve efforts that promote equity and address the structural racism that persists in America.”2 The fact that Walmart had to close hundreds of stores due to the threat of BLM looting went unmentioned.3 Major corporations tripped over themselves to issue public statements denouncing racism—and, more broadly, America’s supposed systemic racism. Many of the corporations pledged to fund their own quasi-religious indulgences, which would alleviate their supposed complicity in the racist system. Tim Cook of Apple issued a letter stating that America’s racist past “is still present today—not only in the form of violence, but in the everyday experience of deeply rooted discrimination,” and offered funding for the Equal Justice Initiative,4 a progressive organization that blames historic racism for nearly every modern ill.

After the 2020 election, as big tech moved to stymie alternative media, conservatives jumped to Parler: Parler hit the top spot in Apple’s App Store, and jumped by more than 4.5 million members in one week. Parler’s chief selling point: it would not ban people based on political viewpoint. Parler’s CEO, John Matze, said, “We’re a community town square, an open town square, with no censorship. If you can say it on the street of New York, you can say it on Parler.”52 Until you couldn’t. After the January 6 riots, based on vaguely sourced reports that Parler had been an organizing place for the rioters, Apple, Amazon, and Google all barred Parler. Apple’s App Store barred Parler on the basis that Parler’s processes were “insufficient” to “prevent the spread of dangerous and illegal content.”


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Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy by George Gilder

23andMe, Airbnb, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, Albert Einstein, AltaVista, Amazon Web Services, Asilomar, augmented reality, Ben Horowitz, bitcoin, Bitcoin Ponzi scheme, blockchain, Bob Noyce, British Empire, Brownian motion, Burning Man, business process, butterfly effect, carbon footprint, cellular automata, Claude Shannon: information theory, Clayton Christensen, cloud computing, computer age, computer vision, crony capitalism, cross-subsidies, cryptocurrency, Danny Hillis, disintermediation, distributed ledger, don't be evil, Donald Knuth, Donald Trump, double entry bookkeeping, Elon Musk, Erik Brynjolfsson, Ethereum, ethereum blockchain, fault tolerance, fiat currency, Firefox, first square of the chessboard, first square of the chessboard / second half of the chessboard, floating exchange rates, Fractional reserve banking, game design, George Gilder, Google Earth, Google Glasses, Google Hangouts, index fund, inflation targeting, informal economy, Internet of things, Isaac Newton, iterative process, Jaron Lanier, Jeff Bezos, Joan Didion, John Markoff, John von Neumann, Julian Assange, Kevin Kelly, Law of Accelerating Returns, Marc Andreessen, Mark Zuckerberg, means of production, Menlo Park, Metcalfe’s law, Money creation, money: store of value / unit of account / medium of exchange, move fast and break things, move fast and break things, Network effects, new economy, Norbert Wiener, Oculus Rift, PageRank, pattern recognition, Paul Graham, peer-to-peer, Peter Thiel, Ponzi scheme, prediction markets, quantitative easing, random walk, ransomware, Ray Kurzweil, Renaissance Technologies, Robert Mercer, Robert Metcalfe, Ronald Coase, Ross Ulbricht, Ruby on Rails, Sand Hill Road, Satoshi Nakamoto, Search for Extraterrestrial Intelligence, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, Singularitarianism, Skype, smart contracts, Snapchat, software is eating the world, sorting algorithm, South Sea Bubble, speech recognition, Stephen Hawking, Steve Jobs, Steven Levy, Stewart Brand, stochastic process, telepresence, Tesla Model S, theory of mind, Tim Cook: Apple, transaction costs, tulip mania, Turing complete, Turing machine, Vernor Vinge, Von Neumann architecture, Watson beat the top human players on Jeopardy!, WikiLeaks, Y Combinator, zero-sum game

Still in first place as of this writing is Apple, twenty years older, riding on the crest of the worldwide market for its coveted iPhones, but Google is aiming for the top spot with its free strategy. In 2006, it purchased Android, an open source operating system that is endowing companies around the globe, including itself, with the ability to compete with the iPhone. Apple is an old-style company, charging handsomely for everything it offers. Its CEO, Tim Cook, recall, is the author of the trenchant insight that “if the service is ‘free,’ you are not the customer but the product.” Apple stores make ten times more per square foot than any other retailer.

This self-learning software will also be capable of performing most of your jobs. The new digital world may not need you anymore. Don’t take offense. In all likelihood, you can retire on an income which we regard as satisfactory for you. Leading Silicon Valley employers, such as Larry Page, Elon Musk, Sergey Brin, and Tim Cook, deem most human beings unemployable because they are intellectually inferior to AI algorithms. Did you know that Google AI defeated the world Go champion in five straight contests? You do not even know what “Go” is? Go is an Asian game of strategy that AI researchers have long regarded as an intellectual challenge far exceeding chess in subtlety, degrees of freedom, and complexity.

With the ascendancy of Amazon, Apple, and other online emporia early in the twenty-first century, much of the Internet was occupied with transactions, and the industry retreated to the “cloud.” Abandoning the distributed Internet architecture, the leading Silicon Valley entrepreneurs replaced it with centralized and segmented subscription systems, such as Paypal, Amazon, Apple’s iTunes, Facebook, and Google cloud. Uber, Airbnb, and other sequestered “unicorns” followed. These so-called “walled gardens” might have sufficed if they could have actually been walled off from the rest of the Internet. At Apple, Steve Jobs originally attempted to accomplish such a separation by barring third-party software applications (or “apps”).


pages: 384 words: 93,754

Green Swans: The Coming Boom in Regenerative Capitalism by John Elkington

agricultural Revolution, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, Berlin Wall, bitcoin, Black Swan, blockchain, Boeing 737 MAX, Buckminster Fuller, business cycle, carbon footprint, Clayton Christensen, clean water, cloud computing, corporate governance, corporate social responsibility, correlation does not imply causation, creative destruction, crowdsourcing, David Attenborough, deglobalization, discounted cash flows, distributed ledger, Donald Trump, double entry bookkeeping, drone strike, Elon Musk, en.wikipedia.org, energy transition, Geoffrey West, Santa Fe Institute, George Akerlof, global supply chain, Google X / Alphabet X, Hans Rosling, impact investing, intangible asset, Internet of things, invention of the wheel, invisible hand, Iridium satellite, Jeff Bezos, Jony Ive, Joseph Schumpeter, Kevin Kelly, Kickstarter, M-Pesa, Mark Zuckerberg, Martin Wolf, more computing power than Apollo, move fast and break things, move fast and break things, Naomi Klein, Nelson Mandela, new economy, Nikolai Kondratiev, oil shale / tar sands, oil shock, placebo effect, planetary scale, Plutocrats, plutocrats, Ponzi scheme, Ralph Nader, Rubik’s Cube, self-driving car, shareholder value, sharing economy, Silicon Valley, smart cities, smart grid, sovereign wealth fund, Steven Pinker, Stewart Brand, supply-chain management, The future is already here, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Tim Cook: Apple, urban planning, Whole Earth Catalog

Think of Merck chief Kenneth Frazier’s resignation from Donald Trump’s American Manufacturing Council in response to the US leader’s handling of racial violence in Charlottesville. Or Unilever head Paul Polman’s leading a charge on climate change as the US government was pulling out of the Paris accord. Or any number of corporate leaders, from Apple’s Tim Cook to Salesforce’s Marc Benioff, threatening to move business out of US states that do not respect LGBT rights.24 Exciting times, but we should be wary of simply leaving it to companies to handle the great challenges of tomorrow. Listen to a former managing director of Larry Fink’s BlackRock.

The net result is that capitalist algorithms have increasingly driven yawning wealth divides and helped wipe something like 60% off the Living Planet Index, a measure of the vitality of Earth’s biosphere calculated by the World Wildlife Fund (WWF).18 “We are the first generation to know we are destroying our planet and the last one that can do anything about it,” WWF UK CEO Tanya Steele told our Green Swan Day audience. Since the New Economy period, we have seen what we might inelegantly call the exponential algorithmicization of our economies. Indeed, leading CEOs like Apple’s Tim Cook have spotlighted the dysfunctions of many of today’s algorithms—and of those who code them. Giving a commencement address at Stanford, he warned his Silicon Valley compatriots, “If you have built a chaos factory, you can’t dodge responsibility for the chaos.”19 Some of these problems can be solved fairly quickly, but others—including the implications of the burgeoning surveillance state—represent intergenerational challenges.

How interesting, then, to see the media commentary around Ive’s announcement that he was leaving Apple. This marked a shifting in expectations of brands like Apple, as the Financial Times explained in a full-page article. Noting that it was no longer good enough for products to be beautiful and easy to use, the piece stressed, “The priorities of many consumers are changing. A new generation of environmentally conscious consumers may no longer fetishize a MacBook’s aluminum body or see the latest iPhone as less of a status symbol than their predecessors.”44 The newspaper noted that it is impossible to change the batteries in Apple’s AirPods, its tiny wireless headphones, because the components are glued together to keep their volume as small as possible.


pages: 340 words: 97,723

The Big Nine: How the Tech Titans and Their Thinking Machines Could Warp Humanity by Amy Webb

Ada Lovelace, AI winter, Airbnb, airport security, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, algorithmic bias, artificial general intelligence, Asilomar, autonomous vehicles, backpropagation, Bayesian statistics, Bernie Sanders, bioinformatics, blockchain, Bretton Woods, business intelligence, Cass Sunstein, Claude Shannon: information theory, cloud computing, cognitive bias, complexity theory, computer vision, crowdsourcing, cryptocurrency, Daniel Kahneman / Amos Tversky, Deng Xiaoping, disinformation, distributed ledger, don't be evil, Donald Trump, Elon Musk, Filter Bubble, Flynn Effect, gig economy, Google Glasses, Grace Hopper, Gödel, Escher, Bach, Inbox Zero, Internet of things, Jacques de Vaucanson, Jeff Bezos, Joan Didion, job automation, John von Neumann, knowledge worker, Lyft, Mark Zuckerberg, Menlo Park, move fast and break things, move fast and break things, natural language processing, New Urbanism, one-China policy, optical character recognition, packet switching, pattern recognition, personalized medicine, RAND corporation, Ray Kurzweil, ride hailing / ride sharing, Rodney Brooks, Rubik’s Cube, Sand Hill Road, Second Machine Age, self-driving car, SETI@home, side project, Silicon Valley, Silicon Valley startup, skunkworks, Skype, smart cities, South China Sea, sovereign wealth fund, speech recognition, Stephen Hawking, strong AI, superintelligent machines, surveillance capitalism, technological singularity, The Coming Technological Singularity, theory of mind, Tim Cook: Apple, trade route, Turing machine, Turing test, uber lyft, Von Neumann architecture, Watson beat the top human players on Jeopardy!, zero day

They ranged from creating sweeping new legislation to mirror Europe’s aggressive GDPR rules, to a proposal that would designate web platforms as information fiduciaries that would have to follow a prescribed code of conduct, not unlike law firms.78 Just a few months later, Apple CEO Tim Cook went on Twitter to post a screed about the future of privacy, the big tech giants, and America. On October 24, he wrote that companies should make the protection of user privacy paramount. “Companies should recognize that data belongs to users and we should make it easy for people to get a copy of their personal data, as well as correct and delete it,” he wrote, continuing with, “Everyone has a right to the security of their data.”79 Sensing that regulation is becoming a real possibility in the US, Apple has been promoting its data protection services and the privacy protections embedded in its mobile and computer operating systems.

Jordan Novet, “Why Tech Companies Are Racing Each Other to Make Their Own Custom AI Chips,” CNBC, April 21, 2018, https://www.cnbc.com/2018/04/21/alibaba-joins-google-others-in-making-custom-ai-chips.html. 78. The full paper can be accessed at https://graphics.axios.com/pdf/PlatformPolicyPaper.pdf?_ga=2.167458877.2075880604.1541172609-1964512884.1536872317. 79. Tweets can be accessed at https://twitter.com/tim_cook/status/1055035534769340418. CHAPTER 3: A THOUSAND PAPER CUTS: AI’S UNINTENDED CONSEQUENCES 1. “‘An Owners’ Manual’ for Google’s Shareholders,” 2004 Founders’ IPO Letter, Alphabet Investor Relations, https://abc.xyz/investor/founders-letters/2004/ipo-letter.html. 2. Ibid. 3. “Leadership Principles,” Amazon, https://www.amazon.jobs/principles. 4.

During our lifetimes, we’ve learned to recognize what an apple is through reinforcement learning—someone taught us what an apple looked like, its purpose, and what differentiates it from other fruit. Then, over time and without conscious awareness, our autonomous biological pattern recognition systems got really good at determining something was an apple, even if we only had a few of the necessary data points. If you see a black-and-white, two-dimensional outline of an apple, you know what it is—even though you’re missing the taste, smell, crunch, and all the other data that signals to your brain this is an apple. The way you and Alexa both learned about apples is more similar than you might realize.


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Power, for All: How It Really Works and Why It's Everyone's Business by Julie Battilana, Tiziana Casciaro

affirmative action, agricultural Revolution, Albert Einstein, algorithmic bias, Asperger Syndrome, blood diamonds, Boris Johnson, British Empire, call centre, Cass Sunstein, clean water, cognitive dissonance, collective bargaining, conceptual framework, coronavirus, Covid-19, COVID-19, different worldview, disinformation, Elon Musk, Erik Brynjolfsson, feminist movement, fundamental attribution error, future of work, gig economy, hiring and firing, impact investing, income inequality, informal economy, Intergovernmental Panel on Climate Change (IPCC), invention of movable type, Jeff Bezos, job satisfaction, Joshua Gans and Andrew Leigh, Mahatma Gandhi, means of production, mega-rich, meta-analysis, Milgram experiment, moral hazard, Naomi Klein, Nelson Mandela, Occupy movement, Panopticon Jeremy Bentham, principal–agent problem, profit maximization, Ralph Waldo Emerson, ride hailing / ride sharing, Second Machine Age, shareholder value, sharing economy, Shoshana Zuboff, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, Steven Pinker, surveillance capitalism, the scientific method, The Wisdom of Crowds, Tim Cook: Apple, transatlantic slave trade, union organizing, zero-sum game

Yet these features are useful only up to a point, as our IP addresses are still visible, which means that our internet service providers, our employers, and/or the government can still track our activity online. Ultimately, protecting ourselves from bias in the algorithms and lack of control over personal data requires changing the laws and then making sure they are enforced. Addressing the 2021 Computers, Privacy and Data Protection conference, Apple’s CEO, Tim Cook, forcefully called for far-reaching data privacy reforms to “send a universal, humanistic response to those who claim a right to users’ private information about what should not and will not be tolerated.”60 Sundar Pichai has also called for such regulation. In an op-ed published in the Financial Times in 2020, he insisted that regulation was needed and suggested that existing “rules such as Europe’s General Data Protection Regulation can serve as a strong foundation.”61 In 2016, the European Union passed the General Data Protection Regulation (GDPR).

(London: Palgrave Macmillan UK, 2010). 57 Beth Kowitt, “Inside Google’s Civil War,” Fortune, January 29, 2020, https://fortune.com/longform/inside-googles-civil-war/. 58 Kate Conger, “Hundreds of Google Employees Unionize, Culminating Years of Activism,” New York Times, January 4, 2021, https://www.nytimes.com/2021/01/04/technology/google-employees-union.html. 59 “Home,” Alphabet Workers Union, December 15, 2020, https://alphabetworkersunion.org/. 60 “LIVE: Apple CEO Tim Cook speaks at Brussels’ International Data Privacy Day,” Reuters (video), January 28, 2021, https://www.youtube.com/watch?v=ug6tA6fhhdQ. 61 Sundar Pichai, “Why Google Thinks We Need to Regulate AI,” Financial Times, January 20, 2020, https://www.ft.com/content/3467659a-386d-11ea-ac3c-f68c10993b04. 62 “What is GDRP, the EU’s New Data Protection Law?

To illustrate, consider the war that Tim Sweeney, the founder and CEO of game maker Epic Games, has waged against Apple and Google to fight what he sees as their abuse of power over computer game developers. Sweeney’s pushback escalated as the popularity of Epic’s flagship game, Fortnite, grew, giving him leverage over the tech companies. In 2018, he launched Fortnite outside Apple’s App Store and the Google Play store to get around what he saw as their disproportionate app fees. In 2020, Apple and Google responded in kind by banning Fortnite from their stores. in retaliation for Epic Games’ avoiding their payment systems.


pages: 344 words: 104,077

Superminds: The Surprising Power of People and Computers Thinking Together by Thomas W. Malone

agricultural Revolution, Airbnb, Albert Einstein, Amazon Mechanical Turk, Apple's 1984 Super Bowl advert, Asperger Syndrome, Baxter: Rethink Robotics, bitcoin, blockchain, business process, call centre, clean water, creative destruction, crowdsourcing, Donald Trump, Douglas Engelbart, Douglas Engelbart, drone strike, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, experimental economics, Exxon Valdez, future of work, Galaxy Zoo, Garrett Hardin, gig economy, happiness index / gross national happiness, independent contractor, industrial robot, Internet of things, invention of the telegraph, inventory management, invisible hand, Jeff Rulifson, jimmy wales, job automation, John Markoff, Joi Ito, Joseph Schumpeter, Kenneth Arrow, knowledge worker, longitudinal study, Lyft, Marshall McLuhan, Occupy movement, Pareto efficiency, pattern recognition, prediction markets, price mechanism, Ray Kurzweil, Rodney Brooks, Ronald Coase, Second Machine Age, self-driving car, Silicon Valley, slashdot, social intelligence, Stephen Hawking, Steve Jobs, Steven Pinker, Stewart Brand, technological singularity, The Nature of the Firm, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, Tim Cook: Apple, Tragedy of the Commons, transaction costs, Travis Kalanick, Uber for X, uber lyft, Vernor Vinge, Vilfredo Pareto, Watson beat the top human players on Jeopardy!

But it seems to me that we are justified in saying that Apple is conscious in a way that is closer to being literally true than just metaphorical. By the way, here’s one more piece of evidence: When Apple’s CEO, Tim Cook, spoke at MIT’s commencement, I told him I was writing a book that included the example you’ve just read. When I asked him whether he thought Apple was conscious, he considered the question very thoughtfully. Then, over the course of several minutes, he said he thought Apple was an organism like a person with values and goals and that, of course, it was conscious. You may not view this as conclusive evidence, but I think it’s a very interesting perspective from someone with a uniquely privileged view of the company.

And human hierarchies have been critical to our remarkable dominance over the other life forms on our planet.2 Of all the types of superminds, hierarchies are the easiest to recognize. A human hierarchy usually has a single person at its top, and that person speaks on behalf of the whole group.3 When Tim Cook at Apple says something publicly, he is speaking for the whole organization in a way that isn’t possible in any other form of supermind. Since a few people in a hierarchy usually make the most important decisions for the supermind as a whole, their individual human emotions, values, and limitations play a more influential role than in other types of superminds.

To explore this question, let’s consider a very specific example of a human group: Apple, Inc. IS APPLE CONSCIOUS? First, let’s define the supermind called Apple as including all the employees of Apple, Inc., along with all the machines, buildings, and other resources the employees use to do their work. Is this group conscious according to the definitions above? Awareness Apple certainly reacts to stimuli in the outside world. If you buy a song on iTunes, Apple will make it available for you to download. If you walk into an Apple store, someone will greet you and try to help you buy an Apple product. In 2007, Apple responded to a variety of changes in the markets for mobile phones, computers, and their components by introducing a widely acclaimed new product called the iPhone.


The Code: Silicon Valley and the Remaking of America by Margaret O'Mara

"side hustle", A Declaration of the Independence of Cyberspace, accounting loophole / creative accounting, affirmative action, Airbnb, AltaVista, Amazon Web Services, Apple II, Apple's 1984 Super Bowl advert, autonomous vehicles, back-to-the-land, barriers to entry, Ben Horowitz, Berlin Wall, Bob Noyce, Buckminster Fuller, Burning Man, business climate, Byte Shop, California gold rush, carried interest, clean water, cleantech, cloud computing, cognitive dissonance, commoditize, computer age, continuous integration, cuban missile crisis, Danny Hillis, DARPA: Urban Challenge, deindustrialization, different worldview, don't be evil, Donald Trump, Doomsday Clock, Douglas Engelbart, Dynabook, Edward Snowden, El Camino Real, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Frank Gehry, George Gilder, gig economy, Googley, Hacker Ethic, high net worth, hockey-stick growth, Hush-A-Phone, immigration reform, income inequality, informal economy, information retrieval, invention of movable type, invisible hand, Isaac Newton, Jeff Bezos, Joan Didion, job automation, job-hopping, John Markoff, Julian Assange, Kitchen Debate, knowledge economy, knowledge worker, Lyft, Marc Andreessen, Mark Zuckerberg, market bubble, mass immigration, means of production, mega-rich, Menlo Park, Mikhail Gorbachev, millennium bug, Mitch Kapor, Mother of all demos, move fast and break things, move fast and break things, mutually assured destruction, new economy, Norbert Wiener, old-boy network, pattern recognition, Paul Graham, Paul Terrell, paypal mafia, Peter Thiel, pets.com, pirate software, popular electronics, pre–internet, Ralph Nader, RAND corporation, Richard Florida, ride hailing / ride sharing, risk tolerance, Robert Metcalfe, Ronald Reagan, Sand Hill Road, Second Machine Age, self-driving car, shareholder value, side project, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, skunkworks, Snapchat, social graph, software is eating the world, speech recognition, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, supercomputer in your pocket, technoutopianism, Ted Nelson, the market place, the new new thing, There's no reason for any individual to have a computer in his home - Ken Olsen, Thomas L Friedman, Tim Cook: Apple, transcontinental railway, Uber and Lyft, uber lyft, Unsafe at Any Speed, upwardly mobile, Vannevar Bush, War on Poverty, We wanted flying cars, instead we got 140 characters, Whole Earth Catalog, WikiLeaks, William Shockley: the traitorous eight, Y Combinator, Y2K

His death prompted an extraordinary outpouring of grief, not only from those who knew him personally but from the millions of Apple users who felt that they knew him nearly as well. “Steve was a dreamer and a doer,” one wrote in a tribute wall on the company’s website. “I am grateful for the gift he was in his creative genius,” wrote another. At Apple retail stores throughout the world, people brought flowers and personal notes in tribute.12 At the private memorial service held on Apple’s Cupertino campus a few weeks after his death, new CEO Tim Cook played a recording for the assembled crowd of company employees, celebrities, and Valley power players.

Tech firms further reduced their tax bills by writing off stock options, depreciation of facilities, and expenditures on R&D. The elaborate shell game—entirely permissible under IRS rules—made rich companies like Apple, Google, and Amazon even richer. Washington made spasmodic efforts to change the system in the Obama years, but it was hard to cast beloved tech brands as tax-dodging fat cats. “I love Apple!” rhapsodized Missouri Democrat Claire McCaskill at a 2013 Senate hearing where Tim Cook was supposedly being called to account for his company’s creative accounting. Kentucky Republican Rand Paul berated his fellow Senators for “bullying” Cook and a company that was “one of America’s greatest success stories.”12 Facebook employees and alumni also joined the ranks of the breathtakingly wealthy.

Jesse Drucker, “Kremlin Cash Behind Billionaire’s Twitter and Facebook Investments,” The New York Times, November 5, 2017; Michael Wolff, “How Russian Tycoon Yuri Milner Bought His Way into Silicon Valley,” Wired, October 21, 2011. 12. Chris William Sanchirico, “As American as Apple Inc.: International Tax and Ownership Nationality,” Tax Law Review 68, no. 2 (2015): 207–74; Rebecca Greenfield, “Senators Turn Tim Cook’s Hearing into a Genius Bar Visit,” The Atlantic, May 21, 2013. 13. David Kirkpatrick, “Inside Sean Parker’s Wedding,” Vanity Fair, August 1, 2013. 14. “Yammer Raises $17 Million in Financing Round Led by The Social+Capital Partnerhip,” Marketwire, September 27, 2011. 15.


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Beyond Outrage: Expanded Edition: What Has Gone Wrong With Our Economy and Our Democracy, and How to Fix It by Robert B. Reich

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, affirmative action, banking crisis, business cycle, carried interest, collateralized debt obligation, collective bargaining, Credit Default Swap, credit default swaps / collateralized debt obligations, desegregation, full employment, Home mortgage interest deduction, job automation, Mahatma Gandhi, minimum wage unemployment, money market fund, Nelson Mandela, new economy, Occupy movement, offshore financial centre, Plutocrats, plutocrats, Ponzi scheme, race to the bottom, Ronald Reagan, Savings and loan crisis, single-payer health, special drawing rights, The Wealth of Nations by Adam Smith, Tim Cook: Apple, too big to fail, trickle-down economics, women in the workforce, working poor, zero-sum game

Even though the rate of unemployment has begun to fall, jobs still remain scarce, and the pay of the bottom 90 percent continues to drop, adjusted for inflation. But CEO pay is still rising through the stratosphere. Among the CEOs who took in more than $50 million in 2011 were Qualcomm’s Paul Jacobs ($50.6 million), JCPenney’s Ron Johnson ($51.5 million), Starbucks’s Howard Schultz ($68.8 million), Tyco International’s Ed Breen ($68.9 million), and Apple’s Tim Cook ($378 million). The titans of Wall Street are doing even better. The super-rich are not investing in jobs and growth. They’re putting their bonanza into U.S. Treasury bills or investing it in Brazil or South Asia or anywhere else it can reap the highest return. The American economy is in trouble because so much income and wealth have been going to the top that the rest of us no longer have the purchasing power to keep the economy going.

Between 2009 and 2011, the thirty-five biggest U.S. companies added 113,000 American jobs but almost three times that many jobs (333,000) abroad, according to a survey by The Wall Street Journal. Nearly 60 percent of their revenue growth came from outside the United States. Apple employs 43,000 people in the United States but contracts with over 700,000 workers abroad. It makes iPhones in China both because wages are low there and because Apple’s Chinese contractor can quickly mobilize workers from company dormitories at almost any hour of the day or night. American companies aren’t creating just routine jobs overseas. They’re also creating good high-tech jobs there and doing more of their research and development abroad.

American corporations signed up for deals with China involving energy and aviation manufacturing, but much of the work would be done in China. American companies don’t care, as long as the deals help their bottom lines. An Apple executive told The New York Times, “We don’t have an obligation to solve America’s problems. Our only obligation is making the best product possible.” He might have added, and showing profits big enough to continually increase our share price. If Apple or any other big American company can make a product best and cheapest in China or anywhere else, then that’s where it’ll do it. I don’t blame the companies. American corporations are in business to make profits and boost their share value, not to create good American jobs.


pages: 459 words: 140,010

Fire in the Valley: The Birth and Death of the Personal Computer by Michael Swaine, Paul Freiberger

1960s counterculture, Amazon Web Services, Apple II, barriers to entry, Bill Atkinson, Bill Gates: Altair 8800, Byte Shop, cloud computing, commoditize, computer vision, Douglas Engelbart, Douglas Engelbart, Dynabook, Google Chrome, I think there is a world market for maybe five computers, Internet of things, Isaac Newton, Jaron Lanier, job automation, John Markoff, John von Neumann, Jony Ive, Loma Prieta earthquake, Marc Andreessen, Menlo Park, Mitch Kapor, Mother of all demos, Paul Terrell, popular electronics, Richard Stallman, Robert Metcalfe, Silicon Valley, Silicon Valley startup, stealth mode startup, Steve Ballmer, Steve Jobs, Steve Wozniak, Stewart Brand, Ted Nelson, Tim Cook: Apple, urban sprawl, Watson beat the top human players on Jeopardy!, Whole Earth Catalog

The two lines of processors battled for the lead in capability. Intel, though, held the lead in sales quite comfortably. Its microprocessors powered most of the IBM computers and clones, whereas Motorola had one primary customer for its processors—Apple. (Atari and Commodore, with their 680x0-based ST and Amiga computers, had to wait in line for chips behind Apple, foreshadowing Apple supply-chain strategies that would be solidified under Tim Cook as COO.) In 1989 “Moore’s law,” Intel cofounder Gordon Moore’s two-decade-old formulation that memory-chip capacity would double every 18 months, was proving to still roughly predict growth in many key aspects of the technology, including memory capacity and processor speed.

Leaving the Stage In 2011, at the age of 56, Steve Jobs died due to complications from pancreatic cancer. A few months earlier he had stepped down as CEO, telling the board, “I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.” COO Tim Cook was named CEO. In 2013, Steve Ballmer retired as CEO of Microsoft. The company had been struggling to find its way in recent years, failing to secure a significant market share in the new product categories. Satya Nadella, a 22-year Microsoft veteran, would become only the third CEO in Microsoft’s history.

Meanwhile, without the singular vision of a Steve Wozniak, the Apple III project was floundering. Delays in the Apple III were soon causing concern in the marketing department. The young company was beginning to feel growing pains at last. When Apple was formed, the Apple II was already near completion. The Apple III was the first computer that Apple—as a company—had designed and built from scratch. The Apple III was also the first Apple not conceived by Steve Wozniak in pursuit of his personal dream machine. Instead the Apple III was a bit of a hodgepodge, pasted together by many hands and designed by committee.


pages: 482 words: 121,173

Tools and Weapons: The Promise and the Peril of the Digital Age by Brad Smith, Carol Ann Browne

Affordable Care Act / Obamacare, AI winter, airport security, Albert Einstein, algorithmic bias, augmented reality, autonomous vehicles, barriers to entry, Berlin Wall, Boeing 737 MAX, business process, call centre, Celtic Tiger, chief data officer, cloud computing, computer vision, corporate social responsibility, disinformation, Donald Trump, Edward Snowden, en.wikipedia.org, immigration reform, income inequality, Internet of things, invention of movable type, invention of the telephone, Jeff Bezos, Mark Zuckerberg, minimum viable product, national security letter, natural language processing, Network effects, new economy, pattern recognition, precision agriculture, race to the bottom, ransomware, Ronald Reagan, Rubik’s Cube, school vouchers, self-driving car, Shoshana Zuboff, Silicon Valley, Skype, speech recognition, Steve Ballmer, Steve Jobs, surveillance capitalism, The Rise and Fall of American Growth, Tim Cook: Apple, WikiLeaks, women in the workforce

It was a bit like telling baseball fans that they could go to an event that included the national anthem, a hot dog eating contest, and the first game of the World Series. We all knew what brought us to Washington on that cold winter morning. An all-star cast of tech leaders arrived at the West Wing, including Apple CEO Tim Cook, Google chairman Eric Schmidt, Facebook COO Sheryl Sandberg, Netflix CEO Reed Hastings, and a dozen others. Most of us already knew each other. Eight of our companies—virtually all competitors—had just come together to create a new coalition, called Reform Government Surveillance, to work together on precisely the issues we were there to discuss.

Then we stepped into a large room for what reporters would call “the most memorable moment” of the state visit—not just at Microsoft or in Seattle, but for the entire six days across the country.5 The leaders of twenty-eight technology companies from both the United States and China had gathered for a photo opp. Flanking President Xi was a group that included Tim Cook, Jeff Bezos, Ginni Rometty, Mark Zuckerberg, and the CEOs of basically every household technology name in America. It was a photo that built on President Xi’s cybersecurity announcement during dinner the night before, one that made every other image of the trip pale in comparison. There was only one president from a country other than the United States who could command this audience.

While other American companies are present in China, only Apple with its iPhone has enjoyed success in the country on a level that is comparable to its leadership in the rest of the world. In recent years, Apple has earned three times as much revenue as Intel, which is the number two US tech company in China.6 When it comes to profits, the situation is likely starker. Apple may well generate more profits within China than the rest of the American tech sector put together. It’s a notable accomplishment but also a challenge for the company, given China’s large contribution to Apple’s global profitability. As we’ve found at Microsoft over time and more globally with products like Windows and Office, anytime you’re dependent on a particular source for a large share of revenue or profitability, it makes it difficult to contemplate changes in that area.


pages: 430 words: 135,418

Power Play: Tesla, Elon Musk, and the Bet of the Century by Tim Higgins

air freight, autonomous vehicles, big-box store, call centre, Colonization of Mars, coronavirus, corporate governance, Covid-19, COVID-19, Donald Trump, Elon Musk, family office, global pandemic, Henry Ford's grandson gave labor union leader Walter Reuther a tour of the company’s new, automated factory…, Jeff Bezos, Jeffrey Epstein, low earth orbit, Lyft, margin call, Mark Zuckerberg, Menlo Park, paypal mafia, ride hailing / ride sharing, Sand Hill Road, self-driving car, short selling, side project, Silicon Valley, Silicon Valley startup, skunkworks, sovereign wealth fund, stealth mode startup, Steve Jobs, Tesla Model S, Tim Cook: Apple, Travis Kalanick, Uber for X, uber lyft

It should come as no surprise then that Silicon Valley’s biggest player, Apple, had taken note. In 2014, the company had quietly begun work on its own electric car program, hiring a slew of experienced hands to launch the effort, dubbed Project Titan. But it quickly became clear that developing a car was harder than they first thought. So, with Tesla’s stock fallen from its previous highs and with its well-publicized struggles over the Model X, Apple CEO Tim Cook apparently saw an opening. Tesla and Apple had developed a complicated relationship. Musk admired Apple’s achievements and was eager to hire people with Apple on their résumés. His stores were explicitly modeled after Apple’s; his designs took inspiration from the iPhone.

They had grown accustomed to it in the dark days leading up to General Motors’ bankruptcy. The gravity of Tesla’s financial situation weighed on Musk. At one point, he thought aloud about how Apple and its war chest of $244 billion might help. By all accounts, the iPhone maker’s efforts to develop a car had been a struggle. Musk’s supposed bravado with CEO Tim Cook years earlier, when Tesla was last in trouble, may have ended a possible acquisition. This time, with his hat in his hand, Musk reached out to Cook about meeting for a possible deal. Perhaps Apple would be interested in acquiring Tesla for about $60 billion, or more than twice its value when Cook had originally inquired?

He wanted to be CEO of Apple. Cook, who since Steve Jobs’s death had shepherded Apple into the most valuable publicly traded company in the world, was gobsmacked by the request. “Fuck you,” Cook said, in Musk’s telling, before hanging up. (Apple declined to comment on the record.)*3 Whether or not this was an accurate recounting, it’s hard to imagine Musk was serious about wanting to be CEO of Apple. Rather, the story played into Musk’s vision of Tesla becoming on par with Apple. It also served a more immediate purpose: It told those senior managers hoping for salvation from Apple to think again.


pages: 511 words: 132,682

Competition Overdose: How Free Market Mythology Transformed Us From Citizen Kings to Market Servants by Maurice E. Stucke, Ariel Ezrachi

affirmative action, Airbnb, Albert Einstein, Andrei Shleifer, Bernie Sanders, Boeing 737 MAX, Cass Sunstein, choice architecture, cloud computing, commoditize, corporate governance, Corrections Corporation of America, Credit Default Swap, crony capitalism, delayed gratification, disinformation, Donald Trump, en.wikipedia.org, Garrett Hardin, George Akerlof, gig economy, Goldman Sachs: Vampire Squid, Google Chrome, greed is good, hedonic treadmill, income inequality, income per capita, independent contractor, information asymmetry, invisible hand, job satisfaction, labor-force participation, late fees, loss aversion, low skilled workers, Lyft, mandatory minimum, Mark Zuckerberg, market fundamentalism, mass incarceration, Menlo Park, meta-analysis, Milgram experiment, mortgage debt, Network effects, out of africa, payday loans, Ponzi scheme, precariat, price anchoring, price discrimination, profit maximization, profit motive, race to the bottom, Richard Thaler, ride hailing / ride sharing, Robert Bork, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, Shoshana Zuboff, Silicon Valley, Snapchat, Social Responsibility of Business Is to Increase Its Profits, Stanford prison experiment, Stephen Hawking, sunk-cost fallacy, surveillance capitalism, The Chicago School, The Market for Lemons, The Myth of the Rational Market, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thomas Davenport, Thorstein Veblen, Tim Cook: Apple, too big to fail, Tragedy of the Commons, transaction costs, Uber and Lyft, uber lyft, ultimatum game, Vanguard fund, winner-take-all economy, Yochai Benkler

But one cannot seriously argue that these benefits should depend on our accepting the inevitability of a toxic competition in which the Gamemakers are always the winners and we have to agree to be the product. Just as US President Dwight D. Eisenhower warned against the creeping powers of the military industrial complex in his farewell address to the nation in 1961, Tim Cook, Apple’s CEO, in 2018, warned against the dangers of the “data industrial complex” where “[o]ur own information, from the everyday to the deeply personal, is being weaponized against us with military efficiency. . . . We shouldn’t sugarcoat the consequences. This is surveillance. And these stockpiles of personal data serve only to enrich the companies that collect them.”169 Cook also firmly endorsed the creation of “a comprehensive federal privacy law in the United States” and went into some detail about what it should cover.

US44413318, November 2018, 13, https://www.seagate.com/files/www-content/our-story/trends/files/idc-seagate-dataage-whitepaper.pdf. 166.Lara O’Reilly, “Walgreens Tests Digital Cooler Doors with Cameras to Target You with Ads,” Wall Street Journal, January 11, 2019, https://www.wsj.com/articles/walgreens-tests-digital-cooler-doors-with-cameras-to-target-you-with-ads-11547206200. 167.Facebook, “About: Mission,” accessed May 2, 2019, https://www.facebook.com/pg/facebook/about/. 168.Google, “About Google,” accessed May 2, 2019, https://www.google.com/about/. 169.Tim Cook, “Remarks before the International Conference of Data Protection & Privacy Commissioners” (Brussels, October 24, 2018), https://www.privacy conference2018.org/system/files/2018-10/Tim%20Cook%20speech%20-%20ICDPPC2018.pdf. 170.Bundeskartellamt, “Bundeskartellamt Prohibits Facebook.” 171.Jennifer Valentino-DeVries et al., “How Game Apps That Captivate Kids Have Been Collecting Their Data,” New York Times, September 12, 2018, https://nyti.ms/2N90yFh. 172.The protection of that privacy law is very narrow: Tiny Lab is liable only if its games were directed to children under thirteen years old, or if Tiny Lab had actual knowledge that it was collecting personal information online from children under thirteen years of age.

., “Public Health Risk of Arsenic Species in Chicken Tissues from Live Poultry Markets of Guangdong Province, China,” Environmental Science & Technology, 51 (February, 2017): 3508, https://pubs.acs.org/doi/pdf/10.1021/acs.est.6b06258. 45.Richard Bilton, “Apple ‘Failing to Protect Chinese Factory Workers,’” BBC News, December 18, 2014, https://www.bbc.com/news/business-30532463; Marcus Wohlsen, “Apple Isn’t the Only One to Blame for Smartphone Labor Abuses,” Wired, December 19, 2014, https://www.wired.com/2014/12/apple-isnt-one-blame-smartphone-supply-chain-abuses/; Charles Arthur, “Samsung Accused of Exploiting Younger Workers in China,” Guardian (Manchester), September 5, 2012, https://www.theguardian.com/technology/2012/sep/05/samsung-accused-exploiting-workers-china; Charles Arthur, “Samsung Finds Labour Violations at Dozens of Its Chinese Suppliers,” Guardian (Manchester), July 1, 2014, https://www.theguardian.com/technology/2014/jul/01/samsung-working-practice-breaches-chinese-suppliers. 46.Michelle Chen, “Was Your Smartphone Built in a Sweatshop?


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The Enlightened Capitalists by James O'Toole

activist fund / activist shareholder / activist investor, anti-communist, Ayatollah Khomeini, Bernie Madoff, British Empire, business cycle, business process, California gold rush, carbon footprint, City Beautiful movement, collective bargaining, compensation consultant, corporate governance, corporate social responsibility, Credit Default Swap, crowdsourcing, cryptocurrency, desegregation, Donald Trump, double entry bookkeeping, end world poverty, equal pay for equal work, Frederick Winslow Taylor, full employment, garden city movement, germ theory of disease, glass ceiling, God and Mammon, greed is good, hiring and firing, income inequality, indoor plumbing, inventory management, invisible hand, James Hargreaves, job satisfaction, joint-stock company, Kickstarter, knowledge worker, Lao Tzu, longitudinal study, Louis Pasteur, Lyft, means of production, Menlo Park, North Sea oil, passive investing, Ponzi scheme, profit maximization, profit motive, Ralph Waldo Emerson, rolodex, Ronald Reagan, shareholder value, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, Socratic dialogue, sovereign wealth fund, spinning jenny, Steve Jobs, Steve Wozniak, stocks for the long run, stocks for the long term, The Fortune at the Bottom of the Pyramid, The Wealth of Nations by Adam Smith, Tim Cook: Apple, traveling salesman, Uber and Lyft, uber lyft, union organizing, Vanguard fund, white flight, women in the workforce, young professional

Mounting evidence that influential CEOs like Apple’s Tim Cook have the power to sway public opinion raises alarms because big company executives already wield disproportionate political power through their personal wealth, the financial clout of the corporations they lead, and the influence of lobbyists in their employ. Is it then good for society if they also exercise the considerable power of the bully pulpit that comes with their position? Moreover, when such power is used with regard to sensitive political or religious issues, it is unlikely to be universally appreciated. For example, when Tim Cook spoke in favor of gay marriage, his pronouncement was greeted positively by those on the left, but negatively by those on the right; similarly, when Chick-fil-A CEO Dan Cathy took the opposite stand, the right cheered, and the left jeered.35 The issue is where to draw the line between legitimate and illegitimate use of executive bully pulpits.

Trend One: An Emerging Generation of Enlightened and Effective Business Leaders My heart is drawn to evidence that a new generation of enlightened capitalists has emerged in recent years—a generation of men and women as committed to social engagement as their forbearers, but more sophisticated and skilled, and thus more likely to be able to create sustainable legacies. Among the contemporary chief executives often mentioned in this regard are Starbucks’ Howard Schultz, Salesforce’s Marc Benioff, Apple’s Tim Cook, PepsiCo’s Indra Nooyi, Campbell Soup’s Denise Morrison, Merck’s Kenneth Frazier, and, especially, Unilever’s Paul Polman and Whole Foods’ John Mackey. Because they all lead large, publicly traded corporations, optimists posit that those CEOs are on the verge of finally proving that shareholder capitalism and enlightened business practices are fully compatible.

In essence, we first must understand the tenets of business orthodoxy before we can appreciate our enlightened capitalists’ heresies. Received Wisdom: The Practice of Business Throughout Most of History COMMON TO ALL MANKIND, Adam Smith wrote, is “the propensity to truck, barter and exchange” goods. Indeed, at some point in prehistory, one of our ancestors may have swapped a bunch of apples for a joint of meat, and the species has been engaged in business ever since. Hence it might be said, contrary to competing claims, that the world’s oldest profession is business. If you think about business in terms of stories, as I do, one story is as old as human society itself: the one about the division of labor, and the trading of goods to meet the necessities of life.


pages: 431 words: 129,071

Selfie: How We Became So Self-Obsessed and What It's Doing to Us by Will Storr

Albert Einstein, autonomous vehicles, banking crisis, bitcoin, computer age, correlation does not imply causation, Donald Trump, Douglas Engelbart, Douglas Engelbart, Elon Musk, en.wikipedia.org, gig economy, greed is good, invisible hand, job automation, John Markoff, Kickstarter, longitudinal study, Lyft, Menlo Park, meta-analysis, Mont Pelerin Society, mortgage debt, Mother of all demos, Nixon shock, Peter Thiel, prosperity theology / prosperity gospel / gospel of success, QWERTY keyboard, rising living standards, road to serfdom, Robert Gordon, Ronald Reagan, selective serotonin reuptake inhibitor (SSRI), Silicon Valley, Silicon Valley startup, Steve Bannon, Steve Jobs, Steven Levy, Stewart Brand, The Future of Employment, The Rise and Fall of American Growth, Tim Cook: Apple, Travis Kalanick, twin studies, Uber and Lyft, uber lyft, War on Poverty, Whole Earth Catalog

These days, when business leaders are challenged about the lengths they go to reduce their tax bills, for example, they frequently defend their actions by presenting themselves as ultra-smart contestants in the neoliberal game who are managing to reduce their liabilities whilst still cleverly playing within its rules. In 2016, a three-year investigation by the EU found that electronics company Apple Inc. had paid between 0.005 per cent and 1 per cent tax on their European profits. The commission found that their ‘sweetheart’ deal with Ireland, where they’d based their European HQ, amounted to a form of illegal state aid and attempted to claw back $13bn. Dismissing all this as ‘political crap’, Chief Executive Tim Cook defended Apple by explaining that they’d ‘played by the rules’. Similarly, following the financial crisis, some bankers in Wall Street saw their bailing out by the state as proof of their superior skill at the game.

‘Extremely poor’ neighbourhoods are here defined as ‘census tracts where 40 percent or more of the population lives below the federal poverty line.’ Back in 1981 the American Business Roundtable: Mirror, Mirror, Simon Blackburn (Princeton University Press, 2014), p. 97. In 2016, a three-year EU investigation . . . ‘political crap’: ‘Tim Cook condemns Apple tax ruling’, Julia Kollewe, Guardian, 1 September 2016. some bankers in Wall Street saw their bailing out: This American Life, WBEX Chicago, episode 415: ‘Crybabies’, originally aired 24 September 2010. As veteran tech reporter Dan Lyons has observed: Disrupted, Dan Lyons (Hachette, 2016), pp. 117–18.

We live in a world of things, he thought, and each of those things has unique properties that can be defined and categorized and acts predictably according to certain laws: an apple that falls to the ground does so under the force of gravity, he said, just as it floats on the sea under that of levity. His view of reality, and of change, was deeply optimistic. Historian Adrienne Mayor writes that Aristotle believed that ‘all things in nature moved towards achieving perfection of their potentials’. One thing in the world that undergoes change is a human. A person, like an apple, is an object in isolation that possesses its own unique properties. But what kind of thing is it?


pages: 209 words: 53,236

The Scandal of Money by George Gilder

Affordable Care Act / Obamacare, bank run, Bernie Sanders, bitcoin, blockchain, borderless world, Bretton Woods, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, central bank independence, Claude Shannon: information theory, Clayton Christensen, cloud computing, corporate governance, cryptocurrency, currency manipulation / currency intervention, Daniel Kahneman / Amos Tversky, Deng Xiaoping, disintermediation, Donald Trump, fiat currency, financial innovation, Fractional reserve banking, full employment, George Gilder, glass ceiling, Home mortgage interest deduction, impact investing, index fund, indoor plumbing, industrial robot, inflation targeting, informal economy, Innovator's Dilemma, Internet of things, invisible hand, Isaac Newton, James Carville said: "I would like to be reincarnated as the bond market. You can intimidate everybody.", Jeff Bezos, John Bogle, John von Neumann, Joseph Schumpeter, Kenneth Rogoff, knowledge economy, Law of Accelerating Returns, Marc Andreessen, Mark Zuckerberg, Menlo Park, Metcalfe’s law, Money creation, money: store of value / unit of account / medium of exchange, mortgage tax deduction, Nixon triggered the end of the Bretton Woods system, obamacare, Paul Samuelson, Peter Thiel, Ponzi scheme, price stability, Productivity paradox, purchasing power parity, quantitative easing, quantitative trading / quantitative finance, Ray Kurzweil, reserve currency, road to serfdom, Robert Gordon, Robert Metcalfe, Ronald Reagan, Sand Hill Road, Satoshi Nakamoto, Search for Extraterrestrial Intelligence, secular stagnation, seigniorage, Silicon Valley, smart grid, South China Sea, special drawing rights, The Great Moderation, The Rise and Fall of American Growth, The Wealth of Nations by Adam Smith, Tim Cook: Apple, time value of money, too big to fail, transaction costs, trickle-down economics, Turing machine, winner-take-all economy, yield curve, zero-sum game

The oligopsonists include Facebook’s Mark Zuckerberg, Microsoft’s Satya Nadella, Google’s alphabetic Larry Page, Disney’s Robert Iger, Verizon’s Lowell McAdam, Amazon’s Jeff Bezos, Netflix’s Reed Hastings, and Apple’s Tim Cook. None seems a good bet for a gaggle of gulls. What is really going on is the displacement of the open and rabble-run IPO market by an exclusive game of horse trading among the most exalted elite of “qualified investors,” the owners of the leviathans of the last generation of IPOs. Capped by such regulatory tolls and encumbrances as the accounting mazes of Sarbanes-Oxley, Fair Disclosure’s code of omertà, and the EPA’s “cautionary principle” barring innovative manufacturing, the new Silicon Valley confines ascendant companies beneath a glass ceiling. From Apple to Google, a few public giants dominate this private-company market since they are the only potential buyers.

The Boston Consulting Group and Bain & Company charted learning curves across the entire capitalist economy, affecting everything from pins to cookies, insurance policies to phone calls, transistors to lines of code, pork bellies to bottles of milk, steel ingots to airplanes.2 Growing apace with output and sales is entrepreneurial learning, yielding new knowledge across companies and industries, bringing improvements to every facet of production, every manufacturing process, every detail of design, marketing, and management. Crucially, the curve extends to customers, who learn how to use the product and multiply applications as it drops in price. The proliferation of hundreds of thousands of applications for Apple’s iPhones, for example, represented the learning curve of the users as much as the learning curve at Apple. The most famous such curve is that described by Moore’s Law, which predicts a doubling of computer cost-effectiveness every twenty-four months. It has been recycled by the solar industry in the form of Swanson’s Law, showing the decline of the cost of silicon photovoltaic cells from seventy-six dollars per watt in 1977 to fifty cents per watt in 2014.

As we saw in chapter 2, it is the most thoroughly documented phenomenon in all enterprise, ordaining that the cost of producing any good or service drops by between 20 percent and 30 percent with every doubling of total units sold. Crucially, the curve extends to customers, who learn how to use the product and multiply applications as it drops in price. The proliferation of hundreds of thousands of applications for Apple’s iPhones, for example, represented the learning curve of the users as much as the learning curve at Apple. All these curves document the essential identity of growth and learning as a central rule of capitalist change. Sound management of money cannot focus on finding stable elements among existing goods and services that are endlessly multifarious and changing.


pages: 128 words: 38,187

The New Prophets of Capital by Nicole Aschoff

3D printing, affirmative action, Affordable Care Act / Obamacare, Airbnb, American Legislative Exchange Council, basic income, Bretton Woods, clean water, collective bargaining, commoditize, crony capitalism, feminist movement, follow your passion, Food sovereignty, glass ceiling, global supply chain, global value chain, helicopter parent, hiring and firing, income inequality, Khan Academy, late capitalism, Lyft, Mark Zuckerberg, mass incarceration, means of production, performance metric, post-work, profit motive, rent-seeking, Ronald Reagan, Rosa Parks, school vouchers, shareholder value, sharing economy, Silicon Valley, Slavoj Žižek, structural adjustment programs, Tim Cook: Apple, urban renewal, women in the workforce, working poor, zero-sum game

And, while the salaries of US corporate executives have skyrocketed over the past two decades, the company has restrained executive pay to nineteen times the average pay of all team members ($18 an hour for full-time, permanent employees). By comparison, in 2011 Apple’s Tim Cook took home $378 million in salary, stock, and other benefits, which was 6,258 times the pay of an average Apple employee. How can Whole Foods do all these things and remain profitable in the cutthroat food industry, where most food retailers make profits of pennies on the dollar? Although Whole Foods saw a temporary dip in profits following the 2008 financial crisis, Mackey attributes the long-term prosperity of the company to its conscious growth model.


pages: 199 words: 56,243

Trillion Dollar Coach: The Leadership Playbook of Silicon Valley's Bill Campbell by Eric Schmidt, Jonathan Rosenberg, Alan Eagle

Apple's 1984 Super Bowl advert, augmented reality, Ben Horowitz, cloud computing, El Camino Real, Erik Brynjolfsson, fear of failure, Jeff Bezos, longitudinal study, Marc Andreessen, Mark Zuckerberg, Menlo Park, meta-analysis, Sand Hill Road, shareholder value, Silicon Valley, speech recognition, Steve Ballmer, Steve Jobs, Tim Cook: Apple

., who had recently succumbed to cancer at the age of seventy-five. Bill had been a transcendent figure in the technology business since moving west in 1983, playing a critical role in the success of Apple, Google, Intuit, and numerous other companies. To say he was tremendously respected would be a gross understatement—loved is more like it. Among the audience that day were dozens of technology leaders—Larry Page. Sergey Brin. Mark Zuckerberg. Sheryl Sandberg. Tim Cook. Jeff Bezos. Mary Meeker. John Doerr. Ruth Porat. Scott Cook. Brad Smith. Ben Horowitz. Marc Andreessen. Such a concentration of industry pioneers and power is rarely seen, at least not in Silicon Valley.

Going out to the wild, woolly west, where it was more a meritocracy, I would have a chance to move quickly and sit on the management team.”8 Move quickly, indeed. Within nine months of joining Apple, Bill was promoted to VP of sales and marketing and given the task of overseeing the launch of the highly anticipated Macintosh, Apple’s new computer that would replace the Apple II as the company’s flagship product. To kick off the launch, the company made a big move: it bought a slot to run a commercial during the Super Bowl, which would be played in Tampa, Florida, on January 22, 1984. Once the ad was produced, Bill and the team showed it to Apple cofounder Steve Jobs. An allusion to George Orwell’s novel 1984, it showed a young woman running through a dark hallway, fleeing guards, and emerging into a chamber where hundreds of gray-clad, head-shaven men are listening, zombie-like, to a droning “big brother” figure on a large screen before them.

.* Although he did not know it at the time, he was about to enter the third chapter of his career, a return to coaching full-time, but not on a football field. When Steve Jobs was forced out of Apple in 1985, Bill Campbell was one of the few leaders at the company who fought against the move. Dave Kinser, an Apple colleague of Bill’s at the time, recalls Bill saying that “we’ve got to keep Steve in the company. He’s way too talented to just let him leave!” Steve remembered that loyalty. When he returned to Apple and became its CEO in 1997, and most of the board members stepped down, Steve named Bill as one of the new directors.* (Bill served on the Apple board until 2014.) Steve and Bill became close friends, speaking frequently and spending many Sunday afternoons walking around their Palo Alto neighborhood discussing all sorts of topics.


pages: 202 words: 59,883

Age of Context: Mobile, Sensors, Data and the Future of Privacy by Robert Scoble, Shel Israel

Albert Einstein, Apple II, augmented reality, call centre, Chelsea Manning, cloud computing, connected car, Edward Snowden, Edward Thorp, Elon Musk, factory automation, Filter Bubble, G4S, Google Earth, Google Glasses, Internet of things, job automation, John Markoff, Kickstarter, lifelogging, Marc Andreessen, Mars Rover, Menlo Park, Metcalfe’s law, New Urbanism, PageRank, pattern recognition, RFID, ride hailing / ride sharing, Robert Metcalfe, Saturday Night Live, self-driving car, sensor fusion, Silicon Valley, Skype, smart grid, social graph, speech recognition, Steve Jobs, Steve Wozniak, Steven Levy, Tesla Model S, Tim Cook: Apple, ubercab, urban planning, Zipcar

Location In September 2012, Apple launched its own mobile maps. It took very little time for the public to realize that they were so awful as to be comedic. But the humor got lost if you were using them to find your way along a snowy road late at night. Apple Maps somehow managed to erase famous landmarks from their sites in the world’s major cities; others were relocated under bodies of water. Drivers reported that turn-by-turn voice directions were misguiding them, occasionally urging them to take abrupt turns mid-span on suspension bridges. The maps were so flawed that CEO Tim Cook soon publicly apologized, encouraging customers to use competing products, including Google Maps.

How could a company, universally acclaimed for unmatched product elegance, make such an unmitigated gaffe? Some pointed to a bitter and public divorce between Apple and Google. Steve Jobs had considered Google Android to be a direct rip-off of Apple’s iOS operating system. Could Apple Maps have simply been a crudely devised and poorly executed act of revenge against a powerful former ally? We think not. In our view, Apple made a huge mistake, but it was strategically motivated and not part of a petty Silicon Valley vendetta. Although Google and Apple historically had lots of good reasons to be allies, they were destined to become the rivals they now are.

Caterina Fake, CEO and founder of Findery, a location-based platform, explains it best in a statement that is simultaneously obvious and profound: “Without location, there is no context.” And for Apple, without context there will be no leadership. So Apple and Google divorced. Today Android and iOS compete for mobile operating system dominance, and thus Apple had little choice but to develop its own maps. Its big mistake was not in the play, but in being unprepared for the enormous challenges they faced on an unrealistically short timeline and then blindly plowing forward. By the time Apple Maps launched, Google had about 7000 employees working on its mobile maps. Matching that is nearly impossible for Apple, whose entire company has only 20,000 employees.


pages: 184 words: 53,625

Future Perfect: The Case for Progress in a Networked Age by Steven Johnson

Airbus A320, airport security, algorithmic trading, banking crisis, barriers to entry, Bernie Sanders, call centre, Captain Sullenberger Hudson, Cass Sunstein, Charles Lindbergh, cognitive dissonance, credit crunch, crowdsourcing, dark matter, Dava Sobel, David Brooks, Donald Davies, future of journalism, hive mind, Howard Rheingold, HyperCard, Jane Jacobs, John Gruber, John Harrison: Longitude, Joi Ito, Kevin Kelly, Kickstarter, lone genius, Mark Zuckerberg, mega-rich, meta-analysis, Naomi Klein, Nate Silver, Occupy movement, packet switching, peer-to-peer, Peter Thiel, planetary scale, pre–internet, RAND corporation, risk tolerance, shareholder value, Silicon Valley, Silicon Valley startup, social graph, Steve Jobs, Steven Pinker, Stewart Brand, The Death and Life of Great American Cities, Tim Cook: Apple, urban planning, US Airways Flight 1549, WikiLeaks, William Langewiesche, working poor, X Prize, Yochai Benkler, your tax dollars at work

In the old days, it might have taken months for details from a John Sculley keynote to make it to the College Hill Bookstore; now the lag is seconds, with dozens of people live-blogging every passing phrase from a Steve Jobs or Tim Cook speech. There are 8,000-word dissections of each new release of OS X at the technological site Ars Technica, written with attention to detail and technical sophistication that far exceed anything a traditional newspaper would ever attempt. Writers such as John Gruber and Donald Norman regularly post intricate critiques of user-interface issues. The traditional newspapers have improved their coverage as well: think of David Pogue’s reviews in The New York Times, or Dow-Jones’s extended technology site, AllThingsD.

Tech critics such as Scott Rosenberg and Andrew Leonard at Salon wrote tens of thousands of words on the latest developments at Apple. (I wrote a few thousand myself at the online magazine I had founded, FEED.) Sometime around then, Apple launched its first official website; now I could get breaking news about the company directly from the source, the second they announced it. If my nineteen-year-old self could time-travel to the present day, he would no doubt be amazed by all the Apple technology—the iPhones and MacBook Airs—but I think he would be just as amazed by the sheer volume and diversity of the information about Apple available now. In the old days, it might have taken months for details from a John Sculley keynote to make it to the College Hill Bookstore; now the lag is seconds, with dozens of people live-blogging every passing phrase from a Steve Jobs or Tim Cook speech.

We need to be reminded of what life was like before the Web. I made my monthly pilgrimages to College Hill because I was interested in the Mac, which was, it should be said, a niche interest in 1987, though not that much of a niche. Apple was one of the world’s largest creators of personal computers, and by far the most innovative. But if you wanted to find out news about the Mac—new machines from Apple, the latest word on the upcoming System 7 or HyperCard, or any new releases from the thousands of software developers or peripheral manufacturers—if you wanted to keep up with any of this, there was just about one channel available to you, as a college student in Providence, Rhode Island.


pages: 265 words: 70,788

The Wide Lens: What Successful Innovators See That Others Miss by Ron Adner

ASML, barriers to entry, Bear Stearns, call centre, Clayton Christensen, inventory management, iterative process, Jeff Bezos, Lean Startup, M-Pesa, minimum viable product, mobile money, new economy, RAND corporation, RFID, smart grid, smart meter, spectrum auction, Steve Ballmer, Steve Jobs, Steven Levy, supply-chain management, Tim Cook: Apple, transaction costs

CNET.com, July 12, 2002, http://news.cnet.com/2100-1040-943519.xhtml. 210 iPod, boasting 100 million customers: Steven Levy, “Why We Went Nuts About the iPhone,” Newsweek, July 16, 2007. 210 Apple’s stock shot up 44 percent: Matt Krantz, “iPhone Powers up Apple’s Shares,” USA Today, June 28, 2007. 211 “four times the number of PCs that ship every year”: Morris, “Steve Jobs Speaks Out.” 211 Ericsson released the R380: Dave Conabree, “Ericsson Introduces the New R380e,” Mobile Magazine, September 25, 2001. 211 Palm followed up with its version: Sascha Segan, “Kyocera Launches First Smartphone in Years,” PC Magazine, March 23, 2010, http://www.pcmag.com/article2/0,2817,2361664,00.asp#fbid=C81SVwKJIvh. 211 “one more entrant into an already very busy space”: “RIM Co-CEO Doesn’t See Threat from Apple’s iPhone,” InformationWeek, February 12, 2007. 212 the phone was exclusively available from only one carrier: In a handful of markets regulators ruled the exclusivity arrangement illegal. 212 “The bigger problem is the AT&T network”: David Pogue, “The iPhone Matches Most of Its Hype,” New York Times, June 27, 2007. 212 priced at a mere $99 in 2007: Kim Hart, “Rivals Ready for iPhone’s Entrance; Pricey Gadget May Alter Wireless Field,” Washington Post, June 24, 2007. 212 “cause irreparable damage to the iPhone’s software”: Apple, press release, September 24, 2007. 213 “I say I like our strategy”: Steve Ballmer interviewed on CNBC, January 17, 2007. 213 They ran out of the older model six weeks before the July 2008 launch: Tom Krazit, “The iPhone, One Year Later,” CNET.com, June 26, 2008, http://news.cnet.com/8301-13579_3-9977572-37.xhtml. 213 60 percent went to buyers who already owned at least one iPod: Apple COO Tim Cook’s comments at Goldman Sachs Technology and Internet Conference, cited in JPMorgan analyst report, “Strolling Through the Apple Orchard: The Good, the Bad and the Ugly Scenarios,” March 4, 2008. 215 the average iPhone user paid AT&T $2,000: Jenna Wortham, “Customers Angered as iPhones Overload AT&T,” New York Times, September 2, 2009. 215 as high as $18 per user per month: Tom Krazit, “Piper Jaffray: AT&T Paying Apple $18 per iPhone, Per Month,” CNET.com, October 24, 2007, http://news.cnet.com/8301-13579_3-9803657-37.xhtml. 216 Apple announced its 10 billionth app download: Apple.com, “iTunes Store Tops 10 Billion Songs Sold,” February 25, 2010, http://www.apple.com/pr/library/2010/02/25iTunes-Store-Tops-10-Billion-Songs-Sold.xhtml.

But while we can see these three principles employed by scores of successful organizations, no recent firm is a better exemplar of their use than Apple. Apple’s Success in the New Millennium Everyone knows that Apple has been on an incredible run for the last decade. But while a great deal of attention has focused on Apple’s sleek product designs, what is often misunderstood is Apple’s systematic approach to its ecosystem strategy—its hidden source of advantage. Apple has no monopoly on great products, great interfaces, or a great brand. Apple’s product design is key, of course, but Apple’s rivals have been at its heels—behind but close—for years, even garnering praise for comparable design quality and better functionality.

,” EDN.com, June 25, 2001, http://www.edn.com/article/484332-Is_MP3_Here_to_Stay_.php. 145 “the hit of the holiday season”: Arik Hesseldahl, “iPod’s a Winner,” Forbes.com, December 7, 2001, http://www.forbes.com/2001/12/07/1207tentech.xhtml. 145 “revolutionary,” and “brilliant”: Eliot Van Buskirk, “How the iPod Will Change Computing,” CNET.com, November 2, 2001, http://reviews.cnet.com/4520-6450_7-5020659-1.xhtml. 146 purchased over 600,000 iPods: “Apple Press Info,” Apple.com., 2011, http://www.apple.com/pr/products/ipodhistory/. Accessed July 23, 2011. 146 Apple held only 15 percent of the digital player market: Brian Garrity, “Digital Devices Get Smaller, Capacity Grows; Will Consumers Respond?,” Billboard, November 9, 2002. 146 “iTunes Music Store offers a groundbreaking solution”: Apple, “Apple Launches the iTunes Music Store,” press release, April 28, 2003. 146 200,000 songs from major labels: Ibid. 146 8 billion songs: William Blair & Company, “Apple Inc.,” equity research report, September 2, 2009. 146 operating margin of 10 percent: Estimate from report by Pacific Crest Securities analyst Andy Hargreaves, discussed in Eric Savitz, “Apple: Turns Out, iTunes Makes Money, Pacific Crest Says, Subscription Service Seems Inevitable,” Tech Trader Daily, April 23, 2007. 146 compatible with both FireWire and USB cables: Michelle Megna, “Apple’s Shining Moment: The Company Hits the Right Notes with Its New Online Music Store and Revamped iPods,” New York Daily News, May 11, 2003. 146 sales of portable CD players were still more than double: Christopher Walsh, “All They Want for Xmas Is the iPod,” Billboard, January 29, 2005. 147 sales of the iPod had leaped 616 percent: Mark Evans, “Apple’s iPod Is ‘the Kleenex’ of MP3 Players: Cultural Phenomenon Garnered Apple US$1.1-Billion in Q3,” National Post (Canada), July 15, 2005. 147 closest competitor with 8 percent market share: IDC data cited in William Blair & Company, “Apple Inc.,” equity research report., September 2, 2009. 147 “These waves of technology, you can see them way before they happen”: Betsy Morris, “Steve Jobs Speaks Out,” Fortune, March 7, 2008. 147 “the Walkman of the early 21st century”: “Behind the Smiles at Sony,” Economist, March 12, 2005. 148 pioneers are the ones with arrows in their backs: Peter N.


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Connectography: Mapping the Future of Global Civilization by Parag Khanna

"Robert Solow", 1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 9 dash line, additive manufacturing, Admiral Zheng, affirmative action, agricultural Revolution, Airbnb, Albert Einstein, amateurs talk tactics, professionals talk logistics, Amazon Mechanical Turk, Asian financial crisis, asset allocation, autonomous vehicles, banking crisis, Basel III, Berlin Wall, bitcoin, Black Swan, blockchain, borderless world, Boycotts of Israel, Branko Milanovic, BRICs, British Empire, business intelligence, call centre, capital controls, charter city, clean water, cloud computing, collateralized debt obligation, commoditize, complexity theory, continuation of politics by other means, corporate governance, corporate social responsibility, credit crunch, crony capitalism, crowdsourcing, cryptocurrency, cuban missile crisis, data is the new oil, David Ricardo: comparative advantage, deglobalization, deindustrialization, dematerialisation, Deng Xiaoping, Detroit bankruptcy, digital map, disruptive innovation, diversification, Doha Development Round, edge city, Edward Snowden, Elon Musk, energy security, Ethereum, ethereum blockchain, European colonialism, eurozone crisis, failed state, Fall of the Berlin Wall, family office, Ferguson, Missouri, financial innovation, financial repression, fixed income, forward guidance, global supply chain, global value chain, global village, Google Earth, Hernando de Soto, high net worth, Hyperloop, ice-free Arctic, if you build it, they will come, illegal immigration, income inequality, income per capita, industrial cluster, industrial robot, informal economy, Infrastructure as a Service, interest rate swap, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Isaac Newton, Jane Jacobs, Jaron Lanier, John von Neumann, Julian Assange, Just-in-time delivery, Kevin Kelly, Khyber Pass, Kibera, Kickstarter, LNG terminal, low cost airline, low cost carrier, low earth orbit, manufacturing employment, mass affluent, mass immigration, megacity, Mercator projection, Metcalfe’s law, microcredit, mittelstand, Monroe Doctrine, mutually assured destruction, New Economic Geography, new economy, New Urbanism, off grid, offshore financial centre, oil rush, oil shale / tar sands, oil shock, openstreetmap, out of africa, Panamax, Parag Khanna, Peace of Westphalia, peak oil, Pearl River Delta, Peter Thiel, Philip Mirowski, Plutocrats, plutocrats, post-oil, post-Panamax, private military company, purchasing power parity, QWERTY keyboard, race to the bottom, Rana Plaza, rent-seeking, reserve currency, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Coase, Scramble for Africa, Second Machine Age, sharing economy, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, six sigma, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, Stuxnet, supply-chain management, sustainable-tourism, TaskRabbit, telepresence, the built environment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, Tim Cook: Apple, trade route, Tragedy of the Commons, transaction costs, UNCLOS, uranium enrichment, urban planning, urban sprawl, WikiLeaks, Yochai Benkler, young professional, zero day

Apple is now taking its passive provision of goods a step further by strategically relaunching the production of one iMac line in Texas. As the CEO, Tim Cook, said in December 2013, “I don’t think we have a responsibility to create a certain kind of job. But I think we do have a responsibility to create jobs.”3 The distinction is important, because even though Apple will invest $100 million in repatriating assembly, Apple products are still largely made from foreign parts such as Samsung chips and Sharp screens that will have to be imported, and its longtime manufacturing partner, Taiwanese Foxconn, has facilities in Texas already.

In early 2015, the trading house Itochu made the largest Japanese foreign investment ever in China, buying (together with Thailand’s CP Group) a 10 percent stake in CITIC, one of China’s oldest and most respected conglomerates. CHAPTER 7: THE GREAT SUPPLY CHAIN WAR 1. Interview with author, July 18, 2015. 2. Enrico Moretti, The New Geography of Jobs (Houghton Mifflin Harcourt, 2012). 3. Josh Tyrangiel, “Tim Cook’s Freshman Year: The Apple CEO Speaks,” Bloomberg Businessweek, Dec. 6, 2012. 4. However, additive manufacturing and the sharing economy together do cause tremendous domestic dislocation. The construction sector is not tradable, but it can increasingly be automated as entire homes are designed, printed, and assembled out of 3-D printing kits, displacing contractors and builders across America and Europe. 5.

Even Silicon Valley’s technology companies increasingly make their products—and keep their money—in the cloud. There are fewer than five countries in the world whose GDP is larger than the more than $200 billion of liquid cash Apple Inc. holds in securities worldwide, meaning Apple could buy many countries’ combined output (minus their debt). Having sold almost two billion products to over one billion people, Apple not only has more money but also occupies greater mind share than most nations. Countries run by supply chains, cities that run themselves, communities that know no borders, and companies with more power than governments—all are evidence of the shift toward a new kind of pluralistic world system.


pages: 391 words: 71,600

Hit Refresh: The Quest to Rediscover Microsoft's Soul and Imagine a Better Future for Everyone by Satya Nadella, Greg Shaw, Jill Tracie Nichols

"Robert Solow", 3D printing, Amazon Web Services, anti-globalists, artificial general intelligence, augmented reality, autonomous vehicles, basic income, Bretton Woods, business process, cashless society, charter city, cloud computing, complexity theory, computer age, computer vision, corporate social responsibility, crowdsourcing, Deng Xiaoping, Donald Trump, Douglas Engelbart, Edward Snowden, Elon Musk, en.wikipedia.org, equal pay for equal work, everywhere but in the productivity statistics, fault tolerance, Gini coefficient, global supply chain, Google Glasses, Grace Hopper, industrial robot, Internet of things, Jeff Bezos, job automation, John Markoff, John von Neumann, knowledge worker, Mars Rover, Minecraft, Mother of all demos, NP-complete, Oculus Rift, pattern recognition, place-making, Richard Feynman, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, side project, Silicon Valley, Skype, Snapchat, special economic zone, speech recognition, Stephen Hawking, Steve Ballmer, Steve Jobs, telepresence, telerobotics, The Rise and Fall of American Growth, Tim Cook: Apple, trade liberalization, two-sided market, universal basic income, Wall-E, Watson beat the top human players on Jeopardy!, young professional, zero-sum game

Believing that the iPhone used by one of the shooters might contain information that would illuminate just what had happened and thereby help prevent future attacks, the FBI filed suit to force Apple to unlock the phone. Apple pushed back. Tim Cook, Apple’s CEO, argued that his company could breach the phone’s security only by creating new software that would expose a so-called backdoor that anyone could then infiltrate. The FBI, in Apple’s view, was threatening data security by seeking to establish a precedent that the U.S. government could use to force any technology company to create software that would undermine the security of its products. Other technologists backed Apple’s position. Once again, Microsoft faced a difficult decision—one that weighed heavily on me personally.

I don’t see it that way. When done right, partnering grows the pie for everyone—for customers, yes, but also for each of the partners. Ultimately the consensus was that this partnership with Apple would help to ensure Office’s value was available to everyone, and Apple was committing to make its iOS really show off the great things Office can do, which would further solidify Microsoft as the top developer for Apple. On launch day, Apple’s Senior Vice President for Worldwide Marketing, Phil Schiller, teased the audience as he set up the next demo at the iPad Pro launch. “We’ve been lucky to have some developers come in to work with us on professional productivity.

PC shipments, the financial lifeblood of Microsoft, had leveled off. Meanwhile sales of Apple and Google smartphones and tablets were on the rise, producing growing revenues from search and online advertising that Microsoft hadn’t matched. Meanwhile, Amazon had quietly launched Amazon Web Services (AWS), establishing itself for years to come as a leader in the lucrative, rapidly growing cloud services business. The logic behind the advent of the cloud was simple and compelling. The PC Revolution of the 1980s, led by Microsoft, Intel, Apple, and others, had made computing accessible to homes and offices around the world.


pages: 244 words: 66,977

Subscribed: Why the Subscription Model Will Be Your Company's Future - and What to Do About It by Tien Tzuo, Gabe Weisert

3D printing, Airbnb, airport security, Amazon Web Services, augmented reality, autonomous vehicles, blockchain, Build a better mousetrap, business cycle, business intelligence, business process, call centre, cloud computing, cognitive dissonance, connected car, death of newspapers, digital twin, double entry bookkeeping, Elon Musk, factory automation, fiat currency, hockey-stick growth, Internet of things, inventory management, iterative process, Jeff Bezos, Kevin Kelly, Lean Startup, Lyft, manufacturing employment, minimum viable product, natural language processing, Network effects, Nicholas Carr, nuclear winter, pets.com, profit maximization, race to the bottom, ride hailing / ride sharing, Sand Hill Road, shareholder value, Silicon Valley, skunkworks, smart meter, social graph, software as a service, spice trade, Steve Ballmer, Steve Jobs, subscription business, Tim Cook: Apple, transport as a service, Uber and Lyft, uber lyft, WeWork, Y2K, Zipcar

That revenue is growing at 27 percent a year and represents more than half of Apple’s growth. And while its hardware business is seasonal and subject to wide peaks and troughs, its service business shows consistent, predictable growth quarter over quarter. But guess what? Some people still don’t get it! The Q&A session of that last earnings call was dominated by analyst questions around iPhone supply and demand. It’s enough to make you slam your forehead on your desk. Now, I understand that today Apple is doing just fine by selling expensive phones to affluent people. But just imagine what would happen at the next Apple keynote if Tim Cook announced a simple monthly Apple subscription plan that covered everything: network provider charges, automatic hardware upgrades, and add-on options for extra devices, music and video content, specialty software, gaming, etc.

If, as a result, Cupertino could deliver a financial statement similar to Salesforce’s noting that 80 percent of next year’s revenue was already in the bank, how fast do you think it would take for Apple to hit that trillion-dollar valuation? As each year passes, Apple cares less and less about how many iPhones it ships, and more about its revenue per Apple ID, lifetime value per Apple ID, and efficiency metrics toward growing the base and value of those Apple IDs. Apple has cleverly integrated those IDs into its retail experience as well. I can walk into any Apple store, give them my ID, and walk out with a product. That’s pretty amazing. Starbucks also has the ID. I can log in to Starbucks and look at all the coffees and lattes I’ve been drinking since I started using a Starbucks card and its mobile payment app.

But just imagine what would happen at the next Apple keynote if Tim Cook announced a simple monthly Apple subscription plan that covered everything: network provider charges, automatic hardware upgrades, and add-on options for extra devices, music and video content, specialty software, gaming, etc. Not just an upgrade program, but Apple as a Service. I have to admit, this isn’t my idea—it belongs to Goldman Sachs. Goldman analyst Jankowski has suggested an “Apple Prime” $50 monthly subscription that would include a guaranteed phone upgrade, Apple TV, and Apple Music. If, as a result, Cupertino could deliver a financial statement similar to Salesforce’s noting that 80 percent of next year’s revenue was already in the bank, how fast do you think it would take for Apple to hit that trillion-dollar valuation?


pages: 222 words: 70,132

Move Fast and Break Things: How Facebook, Google, and Amazon Cornered Culture and Undermined Democracy by Jonathan Taplin

1960s counterculture, affirmative action, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, American Legislative Exchange Council, Apple's 1984 Super Bowl advert, back-to-the-land, barriers to entry, basic income, battle of ideas, big data - Walmart - Pop Tarts, bitcoin, Brewster Kahle, Buckminster Fuller, Burning Man, Clayton Christensen, commoditize, creative destruction, crony capitalism, crowdsourcing, data is the new oil, David Brooks, David Graeber, don't be evil, Donald Trump, Douglas Engelbart, Douglas Engelbart, Dynabook, Edward Snowden, Elon Musk, equal pay for equal work, Erik Brynjolfsson, future of journalism, future of work, George Akerlof, George Gilder, Google bus, Hacker Ethic, Herbert Marcuse, Howard Rheingold, income inequality, informal economy, information asymmetry, information retrieval, Internet Archive, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, John Markoff, John Maynard Keynes: technological unemployment, John von Neumann, Joseph Schumpeter, Kevin Kelly, Kickstarter, labor-force participation, life extension, Marc Andreessen, Mark Zuckerberg, Menlo Park, Metcalfe’s law, Mother of all demos, move fast and break things, move fast and break things, natural language processing, Network effects, new economy, Norbert Wiener, offshore financial centre, packet switching, Paul Graham, paypal mafia, Peter Thiel, Plutocrats, plutocrats, pre–internet, Ray Kurzweil, recommendation engine, rent-seeking, revision control, Robert Bork, Robert Gordon, Robert Metcalfe, Ronald Reagan, Ross Ulbricht, Sam Altman, Sand Hill Road, secular stagnation, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, smart grid, Snapchat, software is eating the world, Steve Bannon, Steve Jobs, Stewart Brand, technoutopianism, The Chicago School, The Market for Lemons, The Rise and Fall of American Growth, Tim Cook: Apple, trade route, Tragedy of the Commons, transfer pricing, Travis Kalanick, trickle-down economics, Tyler Cowen: Great Stagnation, universal basic income, unpaid internship, We wanted flying cars, instead we got 140 characters, web application, Whole Earth Catalog, winner-take-all economy, women in the workforce, Y Combinator, you are the product

Amazon, whose founder, Jeff Bezos, embraces the libertarian creed but has not taken the “don’t ask permission” route, has instead opened a new front: a relentless push to lower prices and commoditize content (especially books), which presents a different danger. And then there is Apple, the dissenter from the libertarian creed. Both Steve Jobs and Tim Cook have been real allies to the content community, and their stance against the surveillance-marketing model that is at the core of Google’s and Facebook’s businesses—i.e., their support of ad blockers—puts them in direct opposition to the dominant search and social platforms.

Jobs went back to Cupertino and called a board meeting, saying he had to build a new computer based on the PARC architecture and that it should not be backward-compatible with the existing Apple II. The board thought he was crazy, but Jobs applied his charisma—his “reality distortion field”—and got his way. Xerox got its Apple shares, and in December of 1980, Apple went public at $22 per share. Xerox’s holdings were instantly worth millions. The first version of a computer using the PARC architecture, the Lisa, was a commercial failure, but when Jobs introduced the Macintosh in an iconic advertisement that aired during the 1984 Super Bowl, the long-awaited vision of the future arrived. The tragedy for Xerox was that two years later, the Xerox CFO sold all its Apple stock. Imagine what it would have meant to the company if it had held on to 5 percent of Apple, which would now be worth about $32 billion.

Brown explains: “Xerox built big complicated stuff that sold for $250,000 a unit and came with three-year guarantees. What was the chance that any of the PARC stuff could ever be sold through the Xerox channels? Zero.” So the decision was made to try to partner with Apple. Almost every version of the story of Steve Jobs visiting PARC for a demonstration in December of 1979 is wrong. It is usually said to epitomize the complete failure on Xerox’s part to understand what they had invented. A bit of background: Apple had successfully launched the Apple II computer in April of 1977. It was an instant hit, and between September of 1977 and September of 1980, yearly sales grew from $775,000 to $118 million, an average annual growth rate of 533 percent.


pages: 223 words: 63,484

Making Ideas Happen: Overcoming the Obstacles Between Vision and Reality by Scott Belsky

centralized clearinghouse, index card, lone genius, market bubble, Merlin Mann, New Journalism, Results Only Work Environment, rolodex, side project, Silicon Valley, Steve Jobs, Steve Wozniak, supply-chain management, Tim Cook: Apple, Tony Hsieh, young professional

As we examine the history of spectacular creations and the leaders behind these accomplishments, some obvious examples of Doers, Dreamers, and Incrementalists stand out. Bill Bowerman, the former track coach who developed Nike’s running shoes, partnered with Phil Knight to transform his vision into a business. In the leadership of Apple, one might call Jonathan Ive (chief designer), Tim Cook (chief operating officer), and Steve Jobs (chief executive officer) Dreamer, Doer, and Incrementalist, respectively. In the world of fashion, the Dreamer Calvin Klein had Barry Schwartz, Ralph Lauren had Roger Farah, and Marc Jacobs had Robert Duffy—three fashion visionaries paired with a world-class Doer as a partner.

You also don’t want to create too much structure around when you can and cannot generate new ideas. However, you must be willing to kill ideas liberally—for the sake of fully pursuing others. In a rare interview in BusinessWeek on Apple’s system for innovation, CEO Steve Jobs explained that, in fact, there is no system at Apple—and that spontaneity is a crucial element for innovation, so long as it is paired with the ability to say no without hesitation: Apple is a very disciplined company, and we have great processes. But that’s not what it’s about. Process makes you more efficient. But innovation comes from people meeting up in the hallways or calling each other at 10:30 at night with a new idea, or because they realized something that shoots holes in how we’ve been thinking about a problem.

Since 2004, AMR Research, a leading authority on supply chain research that serves numerous Fortune 500 companies, has published an annual list of the twenty-five companies with the best supply chain management. You might be surprised to learn that Apple debuted on the list at No. 2 in 2007, and overtook companies such as Anheuser-Busch, Wal-Mart, Procter & Gamble, and Toyota to take the No. 1 slot in 2008. Why would Apple, a company known for new ideas and its ability to “think different,” also be one of the most organized companies on the planet? The answer is that—like it or not—organization is a major force for making ideas happen.


pages: 260 words: 76,223

Ctrl Alt Delete: Reboot Your Business. Reboot Your Life. Your Future Depends on It. by Mitch Joel

3D printing, Amazon Web Services, augmented reality, call centre, clockwatching, cloud computing, Firefox, future of work, ghettoisation, Google Chrome, Google Glasses, Google Hangouts, Khan Academy, Kickstarter, Kodak vs Instagram, Lean Startup, Marc Andreessen, Mark Zuckerberg, Network effects, new economy, Occupy movement, place-making, prediction markets, pre–internet, QR code, recommendation engine, Richard Florida, risk tolerance, self-driving car, Silicon Valley, Silicon Valley startup, Skype, social graph, social web, Steve Jobs, Steve Wozniak, Thomas L Friedman, Tim Cook: Apple, Tony Hsieh, white picket fence, WikiLeaks, zero-sum game

And what this data indicates is that the one-screen world is not a possible trend but an inevitability that has already taken place, and that the growth continues at an exponential pace. When Apple CEO Tim Cook took to the stage at the Yerba Buena Center for the Arts on March 7, 2012, many people were waiting to see both how Cook would handle the first major release from Apple in a post–Steve Jobs world and what the rumored iPad would be capable of, as the iPad 2 was still selling well. Beyond a smooth performance and a new iPad that featured Retina Display with a faster computer processor (dual-core A5X processor with quad-core graphics, thank you very much), few picked up on the staggering data point that Cook enlightened us all with. Apple sold over fifteen million iPads in the first quarter of 2012.

Ironically, other, scrappier startups have disrupted this traditional retail model with digital-only brands that are capturing the imagination (and money) of consumers all over the world. WHAT APPLE KNOWS. What happened prior to 2001 that made Apple go into the retail business? Whenever the topic of Apple and the Apple retail experience (aka Apple Store) is brought up, many media pundits roll their eyes as if the success of these sparse and crisp stores is some kind of anomaly in business lore. It’s not. Apple came to a conclusion in the 1990s that many businesses have yet to wake up to. They knew that if potential customers walked into a traditional consumer electronics goods store and became inundated with a massive selection of computers and laptops, they would, instinctively, defer to the first sales associate they could wrestle down.

Prior to becoming the CEO of JCPenney, Johnson was the senior vice president of retail operations at Apple. In short, he led the concept of both the Apple retail stores and the Genius Bar. His record at Apple is pristine. Within two years of the first store opening, the retail operation of Apple surpassed a billion dollars in annual sales (beating the record held by The Gap). Globally, Apple now has over three hundred stores, and their expansion plans continue to be as aggressive as their product launches. In November 2011, Johnson left Apple to lead JCPenney through this time of purgatory and reboot. His first big and bold moves made news as the 110-year-old company not only struggles to remain relevant but fights within the constraints of the traditional retail world—a place where being an anchor store at a highly coveted shopping mall was the difference between success and failure.


pages: 269 words: 70,543

Tech Titans of China: How China's Tech Sector Is Challenging the World by Innovating Faster, Working Harder, and Going Global by Rebecca Fannin

Adam Neumann (WeWork), Airbnb, augmented reality, autonomous vehicles, blockchain, call centre, cashless society, Chuck Templeton: OpenTable:, cloud computing, computer vision, connected car, corporate governance, cryptocurrency, data is the new oil, Deng Xiaoping, digital map, disruptive innovation, Donald Trump, El Camino Real, Elon Musk, family office, fear of failure, glass ceiling, global supply chain, income inequality, industrial robot, Internet of things, invention of movable type, Jeff Bezos, Kickstarter, knowledge worker, Lyft, Mark Zuckerberg, megacity, Menlo Park, money market fund, Network effects, new economy, peer-to-peer lending, personalized medicine, Peter Thiel, QR code, RFID, ride hailing / ride sharing, Sand Hill Road, self-driving car, sharing economy, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart transportation, Snapchat, social graph, software as a service, South China Sea, sovereign wealth fund, speech recognition, stealth mode startup, Steve Jobs, supply-chain management, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, urban planning, WeWork, winner-take-all economy, Y Combinator, young professional

China’s massive $9 trillion mobile payments market led by Alibaba and Tencent is light-years ahead of the United States.5,6 Nearly everyone in the country, about 900 million, uses their smartphone as a mobile wallet, Alipay or WeChat Pay, to scan items and pay instantly without banking and credit card fees. Cash is a thing of the past in China. Cash, checks, money orders, and credit and debit cards are still commonly used in the United States, and Apple Pay and Google Pay are not yet mainstream in the States.7 Breaking into China now isn’t an option for American financial brands, given the dominance of Alibaba and Tencent. Google’s app store is blocked, and Apple Pay has such limited traction that Apple CEO Tim Cook agreed to accept Alipay at Apple’s 41 retail stores in China. Master-Card and Visa have tried for years to break into China while American Express was recently approved, but it’s probably too late.

DJI’s new flashy home in Shenzhen is a futuristic twin skyscraper designed by Foster & Partners, the same architect as for Apple’s orbit-like base in Cupertino. The plush building features cantilevered floors, a sky bridge where drones will be tested, and even a robot-fighting ring. The Apple of Drones DJI has positioned itself as the Apple of drones. Rumors have popped up that Apple would buy DJI as the iPhone maker mulls an entry into the drone market. In a stroke of marketing genius, DJI has obtained a dedicated section of prime real estate space at Apple retail stores globally for a line of advanced consumer drones. Its drones are sold on Amazon, eBay, Alibaba’s online retail service AliExpress, DJI’s site, and retail stores.

CHAPTER 3 ________________ GAINING FAST: CHINA’S NEXT TECH TITANS The next group of up-and-comers is right behind China’s BAT and leading the future for smartphones that rival Apple, internet-connected smart homes, superapps for speedy on-demand takeout lunches, plus 15-second video thrills and AI-fed news. XIAOMI: The Apple of the East Chinese tech entrepreneur Lei Jun is sometimes called the Steve Jobs of Apple. An entrepreneur celebrity in China much as Jobs was in Silicon Valley, he launched China’s smartphone maker Xiaomi in the spirit of Jobs and copied his products and style down to blue jeans and black T-shirt attire and stage presentations for new iPhones and iPads, even once teasing an introduction with the adopted line “Just one more thing.”


pages: 345 words: 75,660

Prediction Machines: The Simple Economics of Artificial Intelligence by Ajay Agrawal, Joshua Gans, Avi Goldfarb

"Robert Solow", Ada Lovelace, AI winter, Air France Flight 447, Airbus A320, algorithmic bias, Amazon Picking Challenge, artificial general intelligence, autonomous vehicles, backpropagation, basic income, Bayesian statistics, Black Swan, blockchain, call centre, Capital in the Twenty-First Century by Thomas Piketty, Captain Sullenberger Hudson, collateralized debt obligation, computer age, creative destruction, Daniel Kahneman / Amos Tversky, data acquisition, data is the new oil, deskilling, disruptive innovation, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, everywhere but in the productivity statistics, Google Glasses, high net worth, ImageNet competition, income inequality, information retrieval, inventory management, invisible hand, job automation, John Markoff, Joseph Schumpeter, Kevin Kelly, Lyft, Minecraft, Mitch Kapor, Moneyball by Michael Lewis explains big data, Nate Silver, new economy, On the Economy of Machinery and Manufactures, pattern recognition, performance metric, profit maximization, QWERTY keyboard, race to the bottom, randomized controlled trial, Ray Kurzweil, ride hailing / ride sharing, Second Machine Age, self-driving car, shareholder value, Silicon Valley, statistical model, Stephen Hawking, Steve Jobs, Steven Levy, strong AI, The Future of Employment, The Signal and the Noise by Nate Silver, Tim Cook: Apple, Turing test, Uber and Lyft, uber lyft, US Airways Flight 1549, Vernor Vinge, Watson beat the top human players on Jeopardy!, William Langewiesche, Y Combinator, zero-sum game

If strategy involves doing something at the expense of something else, then in the AI space, few companies made a stronger, earlier commitment than Apple. Tim Cook wrote, in a special section devoted to privacy on Apple’s home page: “At Apple, your trust means everything to us. That’s why we respect your privacy and protect it with strong encryption, plus strict policies that govern how all data is handled.”11 He went on: A few years ago, users of Internet services began to realize that when an online service is free, you’re not the customer. You’re the product. But at Apple, we believe a great customer experience shouldn’t come at the expense of your privacy.

Plain and simple.12 Apple did not make this decision due to a government regulation. Some claimed Apple made the decision because it was purportedly lagging behind Google and Facebook in developing AI. No company, certainly not Apple, could eschew AI. This commitment would make its job harder. It plans to do AI in a way that respects privacy. It is making a big strategic bet that consumers will want control over their own data. Whether for security or privacy, Apple has bet that its commitment will make consumers more, not less, likely to allow AI onto their devices.13 Apple isn’t alone in betting that protecting privacy will pay off.

Many other companies, including Google, Facebook, and Amazon, have chosen a different path, telling users that they will use data to provide better products. Apple’s focus on privacy limits the products it can offer. For instance, both Apple and Google have face recognition built into their photo services. To be useful to consumers, the faces have to be tagged. Google does this, preserving the tags, regardless of device, since the recognition runs on Google servers. Apple, however, because of privacy concerns, has opted to have that recognition occur at the device level. That means if you tag faces of people you know on your Mac, the tags will not carry over to your iPhone or iPad.


pages: 265 words: 75,202

The Heart of Business: Leadership Principles for the Next Era of Capitalism by Hubert Joly

big-box store, call centre, carbon footprint, Clayton Christensen, clean water, cognitive dissonance, commoditize, coronavirus, corporate governance, corporate social responsibility, Covid-19, COVID-19, David Brooks, fear of failure, global pandemic, iterative process, Jeff Bezos, lateral thinking, long term incentive plan, meta-analysis, old-boy network, pension reform, performance metric, popular capitalism, pre–internet, race to the bottom, remote working, Results Only Work Environment, risk/return, shareholder value, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, supply-chain management, Tim Cook: Apple, young professional, zero-sum game

In one of my first addresses at Best Buy, I asked the company’s top leaders to imagine how the conversation would go if I were to call Apple’s CEO Tim Cook and Amazon’s Jeff Bezos. “How is the wind where you are sailing?” I would ask. “The wind is great! Great sailing. We’re having the time of our life,” they both would answer. So if they found the wind at their backs, I concluded, then the problem was not the wind. And if wind was not the problem, then we probably were. We could keep coming up with the best possible excuses and wait for the unlikely day when prizes would be handed out in that category. Or we could change tack. First, we had to regroup, which required some pruning.

We applied the same model with other suppliers, including Microsoft, Sony, LG, AT&T, Verizon, Sprint, Canon, Nikon, and Google. The strategy contributed to revitalizing Sony’s ailing TV business. Apple, with whom we had developed the first store-within-a-store experience back in 2007, also decided to double down and invest more in our space, even though they had their own flagship retail fleet. And in 2019, Apple announced that Best Buy would service Apple products, helping the many customers who do not live near an Apple store. Great for the customers, great for Apple, and great for Best Buy, as this meant another reason for customers to visit our stores. If Best Buy had remained a company whose mission was to sell electronics, showrooming might well have killed us, as more and more customers used us to look at products and then ordered them from Amazon.

So was the shift to online shopping and the fact that Amazon was not collecting sales tax. Apple Stores added to the headwinds. Prices on key products were deflating; the iPhone was making cameras, voice recorders, and music players redundant. Best Buy appeared to be the victim of a perfect storm of circumstances—even the best sailors cannot overcome such headwinds. But how could that be? All my previous jobs had been in industries where IT and electronics played a positive role. The likes of Amazon, Apple, and Samsung were doing very well. In one of my first addresses at Best Buy, I asked the company’s top leaders to imagine how the conversation would go if I were to call Apple’s CEO Tim Cook and Amazon’s Jeff Bezos.


pages: 677 words: 206,548

Future Crimes: Everything Is Connected, Everyone Is Vulnerable and What We Can Do About It by Marc Goodman

23andMe, 3D printing, active measures, additive manufacturing, Affordable Care Act / Obamacare, Airbnb, airport security, Albert Einstein, algorithmic trading, artificial general intelligence, Asilomar, Asilomar Conference on Recombinant DNA, augmented reality, autonomous vehicles, Baxter: Rethink Robotics, Bill Joy: nanobots, bitcoin, Black Swan, blockchain, borderless world, Brian Krebs, business process, butterfly effect, call centre, Charles Lindbergh, Chelsea Manning, cloud computing, cognitive dissonance, computer vision, connected car, corporate governance, crowdsourcing, cryptocurrency, data acquisition, data is the new oil, Dean Kamen, disinformation, disintermediation, Dogecoin, don't be evil, double helix, Downton Abbey, drone strike, Edward Snowden, Elon Musk, Erik Brynjolfsson, Filter Bubble, Firefox, Flash crash, future of work, game design, global pandemic, Google Chrome, Google Earth, Google Glasses, Gordon Gekko, high net worth, High speed trading, hive mind, Howard Rheingold, hypertext link, illegal immigration, impulse control, industrial robot, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Jaron Lanier, Jeff Bezos, job automation, John Harrison: Longitude, John Markoff, Joi Ito, Jony Ive, Julian Assange, Kevin Kelly, Khan Academy, Kickstarter, knowledge worker, Kuwabatake Sanjuro: assassination market, Law of Accelerating Returns, Lean Startup, license plate recognition, lifelogging, litecoin, low earth orbit, M-Pesa, Mark Zuckerberg, Marshall McLuhan, Menlo Park, Metcalfe’s law, MITM: man-in-the-middle, mobile money, more computing power than Apollo, move fast and break things, move fast and break things, Nate Silver, national security letter, natural language processing, obamacare, Occupy movement, Oculus Rift, off grid, offshore financial centre, optical character recognition, Parag Khanna, pattern recognition, peer-to-peer, personalized medicine, Peter H. Diamandis: Planetary Resources, Peter Thiel, pre–internet, RAND corporation, ransomware, Ray Kurzweil, refrigerator car, RFID, ride hailing / ride sharing, Rodney Brooks, Ross Ulbricht, Satoshi Nakamoto, Second Machine Age, security theater, self-driving car, shareholder value, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, smart meter, Snapchat, social graph, software as a service, speech recognition, stealth mode startup, Stephen Hawking, Steve Jobs, Steve Wozniak, strong AI, Stuxnet, supply-chain management, technological singularity, telepresence, telepresence robot, Tesla Model S, The future is already here, The Future of Employment, The Wisdom of Crowds, Tim Cook: Apple, trade route, uranium enrichment, Wall-E, Watson beat the top human players on Jeopardy!, Wave and Pay, We are Anonymous. We are Legion, web application, Westphalian system, WikiLeaks, Y Combinator, you are the product, zero day

Though modern computer operating systems, including those from both Microsoft and Apple, come with free hard disk encryption tools built in, they are not turned on by default, and only a small minority of companies and a tiny percentage of consumers encrypt the data on their laptops or desktops. In fact, most consumers have no idea these security protocols even exist. In the wake of the celebrity iCloud hacking fiasco of 2014, Apple’s chief executive, Tim Cook, acknowledged the company had to do more to ratchet up customers’ awareness of cyber-security matters. I thoroughly agree. In September 2014, Apple announced that its latest iPhone would encrypt all data on the device when a password was set, a move Google vowed to match with its forthcoming Android mobile phone operating system.

In September 2014, Apple announced that its latest iPhone would encrypt all data on the device when a password was set, a move Google vowed to match with its forthcoming Android mobile phone operating system. These are important steps forward in minimizing smartphone security risks, but given that 40 percent of users don’t even use a password on their mobile phones at all, Tim Cook was right: much more education and awareness are needed. Taking a Byte out of Cyber Crime: Education Is Essential Civilization is in a race between education and catastrophe. H. G. WELLS We have a literacy problem in the United States and around the world, and it’s not the one most think of.

By finally creating its own mobile app for users, Facebook devised not only a better user experience but also a new tool for grabbing voluminous amounts of data from a user’s mobile device. Pilfering Your Data? There’s an App for That An Apple iPhone commercial in 2009 famously introduced us to the phrase “there’s an app for that” as a means of demonstrating there is an iPhone application for every possible human need. A bold statement at the time, but perhaps Steve Jobs was right. Since its launch in 2008, there have been more than sixty-five billion downloads from Apple’s App Store, generating revenues of over $10 billion in 2013 alone. To compete with Apple, Google launched its own app store known as Google Play, and each company hosts more than a million separate applications available for download.


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The Four: How Amazon, Apple, Facebook, and Google Divided and Conquered the World by Scott Galloway

activist fund / activist shareholder / activist investor, additive manufacturing, Affordable Care Act / Obamacare, Airbnb, Amazon Web Services, Apple II, autonomous vehicles, barriers to entry, Ben Horowitz, Bernie Sanders, big-box store, Bob Noyce, Brewster Kahle, business intelligence, California gold rush, cloud computing, commoditize, cuban missile crisis, David Brooks, disintermediation, don't be evil, Donald Trump, Elon Musk, follow your passion, future of journalism, future of work, global supply chain, Google Earth, Google Glasses, Google X / Alphabet X, Hacker Conference 1984, Internet Archive, invisible hand, Jeff Bezos, Jony Ive, Khan Academy, longitudinal study, Lyft, Mark Zuckerberg, meta-analysis, Network effects, new economy, obamacare, Oculus Rift, offshore financial centre, passive income, Peter Thiel, profit motive, race to the bottom, RAND corporation, ride hailing / ride sharing, risk tolerance, Robert Mercer, Robert Shiller, Robert Shiller, Search for Extraterrestrial Intelligence, self-driving car, sentiment analysis, shareholder value, Silicon Valley, Snapchat, software is eating the world, speech recognition, Stephen Hawking, Steve Ballmer, Steve Bannon, Steve Jobs, Steve Wozniak, Stewart Brand, supercomputer in your pocket, Tesla Model S, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, undersea cable, Whole Earth Catalog, winner-take-all economy, working poor, you are the product, young professional

For all the good that Jobs did for Apple, he was also a destructive force inside the company. He bullied employees; his attitudes around philanthropy and inclusiveness were small; his mercurial personality and megalomania kept Apple perpetually in borderline chaos. His death ended the company’s historic run of innovation, but it also let Apple, under Tim Cook, focus on predictability, profitability, and scale. You can see the results on the balance sheet: if profits are a sign of success, in fiscal year 2015 Apple was the most successful firm in history, registering $53.4 billion in net profit.9 If Apple were anything but a Fortune 500 tech darling, Congress would have implemented tax reforms.10 But most politicians, like other privileged classes around the world, feel a tiny rush when they pull out their iPhones.

Biography. http://www.biography.com/people/louis-vuitton-17112264. 21. Apple Newsroom. “‘Designed by Apple in Calfornia’ chronicles 20 years of Apple design.” https://www.apple.com/newsroom/2016/11/designed-by-apple-in-california-chronicles-20-years-of-apple-design/. 22. Ibid. 23. Norman, Don. Emotional Design: Why We Love (or Hate) Everyday Things (New York: Basic Books, 2005). 24. Turner, Daniel. “The Secret of Apple Design.” MIT Technology Review, May 1, 2007. https://www.technologyreview.com/s/407782/the-secret-of-apple-design/. 25. Munk, Nina. “Gap Gets It: Mickey Drexler Is Turning His Apparel Chain into a Global Brand.

The company’s former chief financial officer, Joseph Graziano, signaled disaster, telling Business Week that Jobs was insisting on “serving caviar in a world that seems content with cheese and crackers.”31 The stores, of course, changed the tech industry—and advanced Apple as a luxury company. The iPhone drove Apple’s share, but stores drove the brand and margin. Walk up Fifth Avenue or the Champs Élysées, and you see Vuitton, Cartier, Hermès, and Apple. These are captive channels. A $26,000 Cartier Ballon Bleu watch or a $5,000 suede Burberry trench coat would lose their luster on shelves at Macy’s. But stores operated by the brands become temples to the brand. Apple’s stores sell nearly $5,000 per square foot. Number 2 is a convenience store, which lags by 50 percent.32 It wasn’t the iPhone, but the Apple Store, that defined Apple’s success. 4.


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Framers: Human Advantage in an Age of Technology and Turmoil by Kenneth Cukier, Viktor Mayer-Schönberger, Francis de Véricourt

Albert Einstein, Andrew Wiles, autonomous vehicles, Ben Bernanke: helicopter money, Berlin Wall, bitcoin, blockchain, Claude Shannon: information theory, cognitive dissonance, coronavirus, correlation does not imply causation, Covid-19, COVID-19, credit crunch, crowdsourcing, cuban missile crisis, Daniel Kahneman / Amos Tversky, discovery of DNA, Donald Trump, double helix, Douglas Hofstadter, Elon Musk, en.wikipedia.org, fiat currency, framing effect, Francis Fukuyama: the end of history, Frank Gehry, game design, George Gilder, global pandemic, global village, Gödel, Escher, Bach, Ignaz Semmelweis: hand washing, informal economy, Isaac Newton, Jaron Lanier, Jeff Bezos, job-hopping, knowledge economy, Louis Pasteur, Mark Zuckerberg, Mercator projection, meta-analysis, microaggression, nudge unit, packet switching, pattern recognition, Peter Thiel, quantitative easing, Ray Kurzweil, Richard Florida, Schrödinger's Cat, self-driving car, Silicon Valley, Steve Jobs, Steven Pinker, The Structural Transformation of the Public Sphere, Thomas Kuhn: the structure of scientific revolutions, Tim Cook: Apple, too big to fail, transaction costs

There would be disagreement and friction, which is a headache to manage. But the benefits of diversity outweigh these difficulties. Three years after Podolny started, Jobs passed away and his deputy, Tim Cook, took over as chief executive. Cook has long been an advocate of diversity in all its forms. His personal story may play a role, as he is one of the few bosses of a major company to come out as gay. Under his leadership, Apple would honor Jobs’s belief that diversity makes for better framers and more successful companies. A Mind-Set, Not a Method Think of mental diversity as you might carpentry tools.

The information was also compiled from conversations with Podolny when he was at Yale, interviews, firsthand experience, and written accounts, including: Jessica Guynn, “Steve Jobs’ Virtual DNA to Be Fostered in Apple University,” Los Angeles Times, October 6, 2011, https://www.latimes.com/archives/la-xpm-2011-oct-06-la-fi-apple-university-20111006-story.html; Brian X. Chen, “Simplifying the Bull: How Picasso Helps to Teach Apple’s Style,” New York Times, August 10, 2014, https://www.nytimes.com/2014/08/11/technology/-inside-apples-internal-training-program-.html; Adam Lashinsky, Inside Apple: How America’s Most Admired—and Secretive—Company Really Works (New York: Business Plus, 2012). On insight problems: Marvin Levine, A Cognitive Theory of Learning: Research on Hypothesis Testing (Hillsdale, NJ: Lawrence Erlbaum, 1975); Janet Metcalfe and David Wiebe, “Intuition in Insight and Noninsight Problem Solving,” Memory & Cognition 15, no. 3 (May 1987): 238–46.

We make similar mistakes in our own day. In 2008 Nokia led the world in mobile phone sales. When Apple introduced the iPhone, few thought it would take off. The trend was to make handsets smaller and cheaper, but Apple’s was bulkier, pricier, and buggier. Nokia’s frame came from the conservative telecom industry, valuing practicality and reliability. Apple’s frame came from the breathlessly innovative computing industry, valuing ease of use and the extensibility of new features via software. That frame turned out to be a better fit for the needs and wants of consumers—and Apple dominated the market. Misapplying frames can have horrendous consequences.


pages: 271 words: 77,448

Humans Are Underrated: What High Achievers Know That Brilliant Machines Never Will by Geoff Colvin

Ada Lovelace, autonomous vehicles, Baxter: Rethink Robotics, Black Swan, call centre, capital asset pricing model, commoditize, computer age, corporate governance, creative destruction, deskilling, en.wikipedia.org, Freestyle chess, future of work, Google Glasses, Grace Hopper, industrial cluster, industrial robot, interchangeable parts, job automation, knowledge worker, low skilled workers, Marc Andreessen, meta-analysis, Narrative Science, new economy, rising living standards, self-driving car, sentiment analysis, Silicon Valley, Skype, social intelligence, Steve Jobs, Steve Wozniak, Steven Levy, Steven Pinker, theory of mind, Tim Cook: Apple, transaction costs

Dunbar, “Rowers’ High: Behavioural Synchrony Is Correlated with Elevated Pain Thresholds,” Biology Letters 15, September 2009, doi:10.1098/rsbl.2009.0670. Nonetheless, by the time Jobs stepped down as CEO in August 2011 . . . See biographies at www.apple.com for the tenures as of August 2011 of Eddy Cue (twenty-two years), Phil Schiller (fourteen years), Jonathan Ive (nineteen years), Scott Forstall (nineteen years), and Tim Cook (thirteen years). To see how wrong things can go . . . “Why Teams Don’t Work: An interview with J. Richard Hackman by Diane Coutu,” Harvard Business Review, May 2009. Dr. John Noseworthy, CEO of the Mayo Clinic, told me about the considerable lengths to which he has gone . . .

We do not all bring the same social skills, and group effectiveness depends on building up social capital between group members through earning trust and helping one another. It all takes time. An important implication of these findings is that since highly effective teams are rare and valuable, not easily or quickly replicated, keeping them together, once formed, is worth a lot. Exhibit A was Apple’s top team under Steve Jobs. The conventional view of Apple’s success is that it derived from Jobs’s genius and dictatorial management, but Jobs knew that wasn’t nearly enough. He worked extraordinarily hard to assemble and keep a highly effective top team, which is an extremely difficult feat in a successful company. As the company prospers, other firms try to lure away its executives, usually with higher-level, higher-paying, more highly visible roles, and the temptation can be overwhelming.

You run into someone, you ask what they’re doing, you say ‘Wow,’ and soon you’re cooking up all sorts of ideas.’” It all has to happen in person. That’s why Jobs famously designed the Pixar headquarters the way he did. Pixar is the animation studio that Jobs initially funded and eventually ran in the years before he returned to Apple and for several years thereafter. It’s arguably the most successful film studio ever, since it has never produced a flop. The Toy Story films, Finding Nemo, the Cars films—of the fourteen features it had produced through 2013, every one was a major financial winner. Jobs wanted to keep it that way, so he insisted that Pixar’s new headquarters be designed around a central atrium; he then placed the café, mailboxes, conference rooms, and other elements so as to force people to criss-cross it.


pages: 297 words: 84,009

Big Business: A Love Letter to an American Anti-Hero by Tyler Cowen

23andMe, Affordable Care Act / Obamacare, augmented reality, barriers to entry, Bernie Sanders, bitcoin, blockchain, Bretton Woods, cloud computing, cognitive dissonance, compensation consultant, corporate governance, corporate social responsibility, correlation coefficient, creative destruction, crony capitalism, cryptocurrency, dark matter, David Brooks, David Graeber, don't be evil, Donald Trump, Elon Musk, employer provided health coverage, experimental economics, Filter Bubble, financial innovation, financial intermediation, global reserve currency, global supply chain, Google Glasses, income inequality, Internet of things, invisible hand, Jeff Bezos, late fees, Mark Zuckerberg, mobile money, money market fund, mortgage debt, Network effects, new economy, Nicholas Carr, obamacare, offshore financial centre, passive investing, payday loans, peer-to-peer lending, Peter Thiel, pre–internet, price discrimination, profit maximization, profit motive, RAND corporation, rent-seeking, reserve currency, ride hailing / ride sharing, risk tolerance, Ronald Coase, shareholder value, Silicon Valley, Silicon Valley startup, Skype, Snapchat, Social Responsibility of Business Is to Increase Its Profits, Steve Jobs, The Nature of the Firm, Tim Cook: Apple, too big to fail, transaction costs, Tyler Cowen: Great Stagnation, ultimatum game, WikiLeaks, women in the workforce, World Values Survey, Y Combinator

And then there’s the fact that large American companies are much more globalized than ever before, and their supply chains are spread across a larger number of countries. Apple’s iPhone, for instance, relies on components and assembly from the United States, South Korea, Thailand, Malaysia, the Philippines, Taiwan, India, and China. A lot of Apple’s key innovation was not the technology behind the iPhone, much of which already was in place, but rather new ideas about how to build up and maintain such a supply chain. Steve Jobs and Tim Cook had to develop a great deal of knowledge about trade patterns, foreign direct investment, and the global economy more generally. In each of the countries in which it does business, Apple has faced unique institutional and regulatory obstacles.

Your real options are to find corners of the internet that will be interested in your ideas, and adjust accordingly. It’s still a far freer intellectual world than what we knew only a short time ago. To consider a third major tech company: Apple too continues to be a major innovator, in spite of its reputation to the contrary. Not only does Apple have three truly major developments under its belt—personal computers, smartphones, and smart tablets—but the company continues to try to drive further advances. The future of the Apple Watch remains uncertain, but at the very least it is a major achievement along the path of developing higher-quality and more practical internet-connected wearables; its millions of users already find it a convenient way to receive messages and track and measure certain aspects of their behavior.

For each copy of Microsoft Word that is sold, other copies are pirated or otherwise reproduced in a way that does not result in a traditional fee for sale at the price set by Microsoft. Apple is the company on this list that charges luxury prices, at least for its hardware. But before the iPhone, you couldn’t buy something like that at any price. And within a few years after the debut of the iPhone, there were plenty of cheaper smartphone models on the market, and since that time those models have gained most of the market share. As of this writing, smartphones are becoming cheaper yet, due to imports from China, and the quality of those products is likely to improve rapidly. Apple helped enable these cheaper products, whether it wanted to or not, and all along the company knew it would end up creating competitors.


pages: 307 words: 90,634

Insane Mode: How Elon Musk's Tesla Sparked an Electric Revolution to End the Age of Oil by Hamish McKenzie

Airbnb, Albert Einstein, augmented reality, autonomous vehicles, barriers to entry, basic income, Bay Area Rapid Transit, Ben Horowitz, business climate, car-free, carbon footprint, Chris Urmson, Clayton Christensen, cleantech, Colonization of Mars, connected car, crony capitalism, Deng Xiaoping, disinformation, disruptive innovation, Donald Trump, Elon Musk, Google Glasses, Hyperloop, Internet of things, Jeff Bezos, John Markoff, low earth orbit, Lyft, Marc Andreessen, margin call, Mark Zuckerberg, megacity, Menlo Park, Nikolai Kondratiev, oil shale / tar sands, paypal mafia, Peter Thiel, ride hailing / ride sharing, Ronald Reagan, self-driving car, Shenzhen was a fishing village, short selling, side project, Silicon Valley, Silicon Valley startup, Snapchat, South China Sea, special economic zone, stealth mode startup, Steve Jobs, Tesla Model S, Tim Cook: Apple, Uber and Lyft, uber lyft, universal basic income, urban planning, urban sprawl, Zipcar

And for the first four years that the iPhone was on sale, it wasn’t even compatible with China Mobile, which accounted for 700 million customers. Since then, Apple has fixed those problems, and China is now arguably its most important market, having registered more iPhone sales than in the United States. In October 2015, Apple CEO Tim Cook said China will be “Apple’s top market in the world.” Apple’s commitment to the country shows in its products. In particular, the large-format plus-size iPhones (starting with the iPhone 6 Plus) were perfect for China, where mobile phones serve as showpieces. The flashy Apple Watch is an equally powerful status item. There is little reason to suggest that Tesla can’t capitalize on the same dynamics.

Then there’s Apple. “They have hired people we’ve fired,” Musk told the German newspaper Handelsblatt in September 2015. Rumors that Apple was working on an electric car project had emerged that February, when an Apple employee allegedly e-mailed Business Insider to say that the Cupertino company was working on a project that would “give Tesla a run for its money.” Former Tesla people had been joining the company in droves. Musk had his own view of the situation. “We always jokingly call Apple the ‘Tesla Graveyard,’” he said. “If you don’t make it at Tesla, you go work at Apple. I’m not kidding.”

In fact, on reflection, it looked like Tesla was following a similar path to the one taken by Apple, which also got off to a rocky start in China. Apple launched the iPhone in China in 2009 but was struck by a series of criticisms early on, not the least of which were about working conditions in the Shenzhen factory where its devices were made. The factory owner, Foxconn, came under fire for several worker suicides. Meanwhile, Apple’s scalper problem was on another level. The scalpers were so bold as to buy iPhones in bulk and sell them right outside Apple stores. Apple was also slow to make the latest iPhones available in the country, with Chinese consumers typically getting them months after they went on sale in the United States.


pages: 271 words: 79,367

The Switch: How Solar, Storage and New Tech Means Cheap Power for All by Chris Goodall

3D printing, additive manufacturing, decarbonisation, demand response, Elon Musk, energy transition, first square of the chessboard / second half of the chessboard, Haber-Bosch Process, hydrogen economy, Internet of things, M-Pesa, Negawatt, off grid, Peter Thiel, Russell Ohl, smart meter, standardized shipping container, Tim Cook: Apple, wikimedia commons

There is indeed probably an element of window-dressing in the actions of some businesses. They are seeking to appeal to environmentally conscious customers, and possibly investors. But most businesses are driven primarily by a desire to save money and avoid future electricity price rises. Discussing Apple’s investments in renewable energy, CEO Tim Cook said recently that ‘we expect to have very significant savings’. Similarly, Walmart – not usually seen as an environmental do-gooder – stresses the financial benefits of PV as much as its other benefits: ‘Using the power of the sun and installing solar panels lowers our energy costs and is clearly good for the environment, but another benefit is that it keeps prices low for our customers.’

Among the most notable solar supporters is Apple, the world’s most valuable company, which has made a promise of carbon neutrality for its operations and manufacturing plants around the world. As well as investing in solar in the US, the business has started to commission PV farms in China. One series of investments in Inner Mongolia will produce 170 megawatts of peak output across three huge farms. To get a sense of the scale of this, a solar portfolio of this size will produce enough electricity to meet about one thousandth of the UK’s total annual power need. But to wipe out its entire carbon impact Apple will need to make investments of about ten times this size.

But to wipe out its entire carbon impact Apple will need to make investments of about ten times this size. For a company with $200bn of cash on its balance sheet, this represents little more than small change. Apple is not alone. Google has made renewable investment pledges totalling $2.5 billion in recent years including financing the largest US residential PV installer, SolarCity. Global retailer IKEA has put 700,000 panels on its stores and recently pledged another €100 million to solar as it promised to move to 100 per cent clean energy by 2020. The world’s largest retailer, Walmart, has made similar investment on its own warehouses while in the UK Sainsbury’s has put over 100,000 panels on its roofs.


pages: 297 words: 83,651

The Twittering Machine by Richard Seymour

4chan, anti-communist, augmented reality, Bernie Sanders, Cal Newport, Cass Sunstein, Chelsea Manning, citizen journalism, colonial rule, correlation does not imply causation, credit crunch, crowdsourcing, disinformation, don't be evil, Donald Trump, Elon Musk, Erik Brynjolfsson, Filter Bubble, Google Chrome, Google Earth, hive mind, informal economy, Internet of things, invention of movable type, invention of writing, Jaron Lanier, Jony Ive, Kevin Kelly, knowledge economy, late capitalism, liberal capitalism, Mark Zuckerberg, Marshall McLuhan, meta-analysis, Mohammed Bouazizi, moral panic, move fast and break things, move fast and break things, Network effects, new economy, packet switching, patent troll, Philip Mirowski, post scarcity, post-industrial society, RAND corporation, Rat Park, rent-seeking, replication crisis, sentiment analysis, Shoshana Zuboff, Silicon Valley, Silicon Valley ideology, smart cities, Snapchat, Steve Bannon, Steve Jobs, Stewart Brand, Stuxnet, surveillance capitalism, TaskRabbit, technoutopianism, the scientific method, Tim Cook: Apple, undersea cable, upwardly mobile, white flight, Whole Earth Catalog, WikiLeaks

For the sake of her own sanity, she delegated the management of her Facebook account to an employee. Many social industry and tech executives resist their own technologies. Mark Zuckerberg’s Facebook account is run by employees. Apple’s Steve Jobs wouldn’t let his children near an iPad, while his replacement, Tim Cook, doesn’t allow his nephew to use social networking sites. Apple’s design strategist Jony Ive warns that ‘constant use’ of tech is overuse.3 As always, tech is adept at producing profitable solutions to the problems it creates. Now smartphone users can trade in their addictive devices for a range of minimalist alternatives, with the limited texting and call-making functionality of a very old mobile phone.

Google resorted to internal encryption to evade surveillance when it was revealed that both the NSA and GCHQ had wiretapped the firm’s communications. Apple fought the FBI to a standstill over encryption on its phones. The FBI wanted to force Apple to unlock an iPhone belonging to Rizwan Farook, one of the shooters in the San Bernardino massacre in December 2015. Apple resisted in the courts, and ultimately the FBI backed off when it used third-party software to hack the phone, revealing nothing of pertinence. FBI director James Comey complained that Apple allowed ‘people to hold themselves beyond the law’.29 This was revealing, suggesting that he expected there to be no area of life not potentially scrutable by the law.

Increasingly, these abstractions are linked to an emerging web of ubiquitous computing technologies which Greenfield has presciently called ‘everyware’.76 Ostensibly designed to smooth the edges of life, this network connects smartphones, sensors, data collectors, cookies and platforms in a constant flow of information. In so doing, it quietly outsources important decisions. When you ask Alexa or Siri for a nearby restaurant or shoe shop, it will be Apple or Google or Amazon that determines your path of movement through the urban space on the basis of their commercial needs. Naturally, these structures can be used by political authority to promote governing norms, but they can also work as more insidious forms of control. The emerging ideal of the ‘smart city’, where sensors and data collectors determine the allocation of resources and assets, is a case in point.


pages: 346 words: 89,180

Capitalism Without Capital: The Rise of the Intangible Economy by Jonathan Haskel, Stian Westlake

"Robert Solow", 23andMe, activist fund / activist shareholder / activist investor, Airbnb, Albert Einstein, Andrei Shleifer, bank run, banking crisis, Bernie Sanders, business climate, business process, buy and hold, Capital in the Twenty-First Century by Thomas Piketty, cloud computing, cognitive bias, computer age, corporate governance, corporate raider, correlation does not imply causation, creative destruction, dark matter, Diane Coyle, Donald Trump, Douglas Engelbart, Douglas Engelbart, Edward Glaeser, Elon Musk, endogenous growth, Erik Brynjolfsson, everywhere but in the productivity statistics, Fellow of the Royal Society, financial innovation, full employment, fundamental attribution error, future of work, Gini coefficient, Hernando de Soto, hiring and firing, income inequality, index card, indoor plumbing, intangible asset, Internet of things, Jane Jacobs, Jaron Lanier, job automation, Kenneth Arrow, Kickstarter, knowledge economy, knowledge worker, laissez-faire capitalism, liquidity trap, low skilled workers, Marc Andreessen, Mother of all demos, Network effects, new economy, open economy, patent troll, paypal mafia, Peter Thiel, pets.com, place-making, post-industrial society, Productivity paradox, quantitative hedge fund, rent-seeking, revision control, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Coase, Sand Hill Road, Second Machine Age, secular stagnation, self-driving car, shareholder value, sharing economy, Silicon Valley, six sigma, Skype, software patent, sovereign wealth fund, spinning jenny, Steve Jobs, sunk-cost fallacy, survivorship bias, The Rise and Fall of American Growth, The Wealth of Nations by Adam Smith, Tim Cook: Apple, total factor productivity, Tyler Cowen: Great Stagnation, urban planning, Vanguard fund, walkable city, X Prize, zero-sum game

We know that innovation often involves investing in organizational change, such as creating a new business unit to sell a new product line. And it’s also possible to think of examples of companies that have invested to create valuable organizational assets outside their own firms. The remarkable Apple supply chain that Tim Cook was responsible for developing is clearly a long-term source of value for Apple, allowing it to bring products to market extraordinarily quickly. A valuable asset of so-called sharing-economy businesses like Uber or AirBnB is typically their network of committed suppliers—Uber’s drivers or AirBnB’s hosts. This too is an asset of lasting value that both companies have invested heavily to develop (and which they invest to protect, for example, against legal actions requiring them to treat their suppliers as employees).

Consider an expert designer at Apple, a company famed for, and to some extent reliant on, its good design. What stops that designer, from an economic point of view, demanding more and more money in return for not leaving for the competition or setting up a new, design-led start-up? One answer to the question is synergies. Apple’s design is especially valuable in the context of a whole set of intangible assets Apple owns: its technologies, its customer service, and the power of its brand and marketing channels. All of these things make an Apple designer more valuable to Apple than to an alternative employer, and they reduce the incentives to leave.

Oral Rehydration Therapy is a perfect example. But spillovers don’t just arise from R&D. After Apple released the iPhone, almost all smartphones started looking just like it. Apple’s investments in software, design, and supply chains (for example, creating the software supply chain we call the App Store) were adopted or imitated by its competitors as they sought to create phones like Apple’s. By creating what marketing experts would call the smartphone “category” (or more precisely, growing it significantly), Apple benefited not just themselves but other smartphone manufacturers. The iPhone also provides an example of marketing spillovers.


pages: 290 words: 73,000

Algorithms of Oppression: How Search Engines Reinforce Racism by Safiya Umoja Noble

A Declaration of the Independence of Cyberspace, affirmative action, Airbnb, algorithmic bias, borderless world, cloud computing, conceptual framework, crowdsourcing, desegregation, disinformation, Donald Trump, Edward Snowden, Filter Bubble, Firefox, Google Earth, Google Glasses, housing crisis, illegal immigration, immigration reform, information retrieval, Internet Archive, Jaron Lanier, Mitch Kapor, Naomi Klein, new economy, PageRank, performance metric, phenotype, profit motive, Silicon Valley, Silicon Valley ideology, Snapchat, Tim Cook: Apple, union organizing, women in the workforce, yellow journalism

Dunbar, A. (2006). Introducing Critical Race Theory to Archival Discourse: Getting the Conversation Started. Archival Science, 6, 109–129. Dyer, R. (1997). White. London: Routledge. Eddie, R., and Prigg, M. (2015, November 13). “This Does Not Represent Our Values”: Tim Cook Addresses Racism Claims after Seven Black Students Are Ejected from an Apple Store and Told They “Might Steal Something.” Daily Mail. Retrieved from www.dailymail.co.uk. Eglash, R. (2002). Race, Sex, and Nerds: From Black Geeks to Asian American Hipsters. Social Text, 20(2), 49–64. Eglash, R. (2007). Ethnocomputing with Native American Design.

See Hardenaug, 2001; Shah, 2010. 43. While less formal scholarship has been dedicated to this issue, considerable media attention in 2011 and 2012 has been focused on the labor conditions in parts of China where Apple manufactures its products. While some of the details of the journalistic reporting have been prone to factual error in location and dates, there is considerable evidence that labor conditions by Apple’s supplier Foxconn are precarious and rife with human-rights abuses. See Duhigg and Barboza, 2012. 44. See Fields, 2004. 45. Wallace, 1990, 98. 46. See Hobson, 2008. 47. See Harvey, 2005. 48.

With all of the aberrations and challenges that tech companies face in charges of data discrimination, the possibility of hiring recent graduates and advanced-degree holders in Black studies, ethnic studies, American Indian studies, gender and women’s studies, and Asian American studies with deep knowledge of history and critical theory could be a massive boon to working through the kinds of complex challenges facing society, if this is indeed the goal of the technocracy. From claims of Twitter’s racist trolling that drives people from its platform34 to charges that Airbnb’s owners openly discriminate against African Americans who rent their homes35 to racial profiling at Apple stores in Australia36 and Snapchat’s racist filters,37 there is no shortage of projects to take on in sophisticated ways by people far more qualified than untrained computer engineers, whom, through no fault of their own, are underexposed to the critical thinking and learning about history and culture afforded by the social sciences and humanities in most colleges of engineering nationwide.


pages: 327 words: 84,627

The Green New Deal: Why the Fossil Fuel Civilization Will Collapse by 2028, and the Bold Economic Plan to Save Life on Earth by Jeremy Rifkin

1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, American Society of Civil Engineers: Report Card, autonomous vehicles, Bernie Sanders, blockchain, borderless world, business cycle, business process, carbon footprint, collective bargaining, corporate governance, corporate social responsibility, creative destruction, decarbonisation, en.wikipedia.org, energy transition, failed state, ghettoisation, hydrogen economy, impact investing, information asymmetry, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, Joseph Schumpeter, means of production, megacity, Network effects, new economy, off grid, oil shale / tar sands, peak oil, planetary scale, renewable energy credits, Ronald Reagan, shareholder value, sharing economy, Silicon Valley, Skype, smart cities, smart grid, sovereign wealth fund, Steven Levy, the built environment, The Wealth of Nations by Adam Smith, Tim Cook: Apple, trade route, union organizing, urban planning, women in the workforce, zero-sum game

The world’s giant internet companies are leading the way in decoupling from fossil fuels and reinvesting in green energy in the ICT sector, with Apple, Google, and Facebook setting the pace. In April 2018, Apple announced that all of its data centers worldwide are now powered by renewable energy. The company also announced that twenty-three of its key manufacturing partners around the world have agreed to power all of Apple’s production with 100 percent green energy. Commenting on this milestone, Apple’s CEO, Tim Cook, said, “We’re going to keep pushing the boundaries of what is possible with the materials in our products, the way we recycle them, our facilities and our work with suppliers to establish new creative and forward-looking sources of renewable energy because we know the future depends on it.”19 Google achieved 100 percent renewable energy usage in its data centers in 2017 and is currently operating twenty renewable energy projects with a total investment of $3.5 billion in renewable energy infrastructure.20 In July 2017, Facebook announced that “all” of its new data centers from here on out will be powered by 100 percent renewable energy.21 The internet behemoths are out front in decoupling from the fossil fuel civilization, but many other leading ICT and telecom companies are running nearly apace.

., “Worldwide Energy Needs for ICT: The Rise of Power-Aware Networking,” paper presented at the 2008 International Conference on Advanced Networks and Telecommunication Systems, 2, doi:10.1109/ants.2008.4937762; Lotfi Belkhir and Ahmed Elmeligi, “Assessing ICT Global Emissions Footprint: Trends to 2040 & Recommendations,” Journal of Cleaner Production 177 (January 2, 2018): 448, doi:10.1016/j.jclepro.2017.12.239. 17.  Belkhir and Elmeligi, “Assessing ICT Global Emissions Footprint,” 458. 18.  Ibid., 458–59. 19.  Apple, “Apple Now Globally Powered by 100 Percent Renewable Energy,” news release, April 9, 2018, https://www.apple.com/newsroom/2018/04/apple-now-globally-powered-by-100-percent-renewable-energy/ (accessed January 15, 2019). 20.  Urs Hölzle, “100% Renewable Is Just the Beginning,” Google news release, December 12, 2016, https://sustainability.google/projects/announcement-100 (accessed February 7, 2019). 21.  

Africa North Africa power grid plans for solar and wind energy in South Africa Age of Progress Age of Resilience aggregate energy efficiency agriculture sector carbon farming digital operations effect of animal rearing on greenhouse gas emissions green electricity cooperatives Internet of Things infrastructure organic farming percentage of crops and land used for animal feed use of public land and vegetarian or vegan diets AIG Alliance of Liberals and Democrats for Europe (ALDE) Allianz Alphabet Inc.. See also Google American Society of Civil Engineers (ASCE) infrastructure report card apartheid divestment movement Apple apprenticeships, green Arias Cañete, Miguel artificial intelligence (AI) Ashton, Kevin AT&T autonomous (self-driving) electric vehicles AXA Balsillie, Jim Bank of America Bank of England Prudential Regulation Authority (PRA) Barber, Randy Barbier, Edward Bernhard, Wolfgang Bernstein Research Big Data Bilicic, George bio-based materials biosphere consciousness Blair, Tony blockchain technology Bloomberg, Michael Bond, Kingsmill Booker, Cory Boston Tea Party Bowser, Muriel Brattle Group Brown, Jerry Buffett, Warren building sector decoupling from fossil fuel industry nodal IoT buildings retrofits Bulc, Violeta Burger King Burns, Larry Burrow, Sharan Buttigieg, Pete Byrd, Harry Caldecott, Ben Canada and liquefied natural gas (LNG) pipeline and natural gas Toronto waterfront smart city project capital market capital pension capital public capital social capital capitalism and near-zero marginal costs and pension capital pension fund divest/invest campaign and Sharing Economy social capitalism and socially responsible investment (SRI) carbon bubble carbon capture and storage and agriculture sector limitations of process of carbon tax Carbon Tracker Initiative Carney, Mark Castro, Julián Cavoukian, Ann Changing Wealth of Nations 2018: Building a Sustainable Future, The (World Bank report) China.


pages: 340 words: 90,674

The Perfect Police State: An Undercover Odyssey Into China's Terrifying Surveillance Dystopia of the Future by Geoffrey Cain

airport security, anti-communist, Berlin Wall, cloud computing, commoditize, computer vision, coronavirus, Covid-19, COVID-19, Deng Xiaoping, Edward Snowden, European colonialism, ghettoisation, global supply chain, Kickstarter, land reform, mass immigration, Nelson Mandela, Panopticon Jeremy Bentham, pattern recognition, phenotype, pirate software, purchasing power parity, QR code, RAND corporation, Ray Kurzweil, ride hailing / ride sharing, Right to Buy, self-driving car, sharing economy, Silicon Valley, Skype, smart cities, South China Sea, speech recognition, Tim Cook: Apple, trade liberalization, trade route, undersea cable, WikiLeaks

Gap said it worked with two suppliers who used yarn from mills in Xinjiang and was sorting out and reviewing its relationships there.13 Apple was another American company that benefited. It had connections to at least three factories in its supply chain that employed Uyghur laborers forcibly transferred from the camps. ASPI found that, between April 28 and May 1, 2017, seven hundred Uyghurs were transferred to the city of Nanchang to work at a factory run by O-Film. O-Film made cameras for the iPhone 8 and iPhone X. In December 2017, Apple CEO Tim Cook visited another O-Film factory. According to an Apple press release, Cook praised O-Film for its “humane approach towards employees” during his visit.

He also said that workers seemed “able to gain growth at the company, and live happily.” Apple’s manufacturing partners expanded their use of Uyghur labor in September 2019, according to a local government document stating that 560 Uyghur workers had been transferred to the Foxconn factory that made half the world’s iPhones. Foxconn, a major Apple partner, had taken part in the Xinjiang Aid scheme.14 Apple said it launched an investigation into O-Film. “Apple is dedicated to ensuring everyone in our supply chain is treated with dignity and respect,” an Apple spokesman said in a statement. “We have found no evidence of any forced labor on Apple production lines and we plan to continue monitoring.”

“We have found no evidence of any forced labor on Apple production lines and we plan to continue monitoring.” In late 2020 or early 2021, Apple reportedly dropped O-Film as a components supplier over accusations of its involvement in forced labor.15 Another company that claimed to make components for an Apple supplier, Highbroad Advanced Material Company, signed an agreement with a local government to employ one thousand Uyghur workers each year for three years.16 Highbroad makes components for flat-panel displays, and counts among its other customers HP, Mercedes-Benz, Dell, LG, and Volkswagen.17 HP didn’t respond to media requests for comment after the report was released.


pages: 343 words: 91,080

Uberland: How Algorithms Are Rewriting the Rules of Work by Alex Rosenblat

"side hustle", Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, basic income, big-box store, call centre, cashless society, Cass Sunstein, choice architecture, collaborative economy, collective bargaining, creative destruction, crowdsourcing, disinformation, disruptive innovation, don't be evil, Donald Trump, en.wikipedia.org, future of work, gender pay gap, gig economy, Google Chrome, income inequality, independent contractor, information asymmetry, Jaron Lanier, job automation, job satisfaction, Lyft, marginal employment, Mark Zuckerberg, move fast and break things, Network effects, new economy, obamacare, performance metric, Peter Thiel, price discrimination, Ralph Waldo Emerson, regulatory arbitrage, ride hailing / ride sharing, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, social software, stealth mode startup, Steve Jobs, strikebreaker, TaskRabbit, Tim Cook: Apple, transportation-network company, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, union organizing, universal basic income, urban planning, Wolfgang Streeck, Yochai Benkler, Zipcar

Anyone within that geofence (e.g., Apple’s app-review team) would see a different version of Uber’s app. (It’s a bit like if a company were to send a tech reporter a new smartwatch to test and review—under the pretense that it is their normal product—but the device sent to the reporter secretly includes a faster processor not available to everyone else, so that the tech reporter will give it a better grade.) In a meeting that took place years before the event became public knowledge, Apple CEO Tim Cook summoned a nervous Travis Kalanick to his office to discuss Uber’s willful disregard for Apple’s rules. Kalanick agreed to comply properly.

But in direct violation of these rules, Uber continued to track iPhone data even after users had deleted the ridehail app from their phones, as Mike Isaac reported for the New York Times.48 Normally, app developers who flout Apple’s app-store guidelines risk being cut from the app store, which in Uber’s case would have resulted in their losing access to millions of Apple customers. Given the stakes, Uber went to elaborate lengths to hide its noncompliance: the ridehail company purposefully set out to evade Apple’s fraud detection protocols by manipulating what Apple’s app-review team would see when approving the Uber app. Under orders from then-CEO Travis Kalanick, Uber’s engineers duped Apple for a time by building a “geofence” around Apple’s corporate headquarters in Cupertino, California.

As privacy and legal scholar Woodrow Hartzog observes publicly on Twitter, “By not including a common option like “only while app is in use,” they [Uber] manipulate users into sharing by making privacy costly.”47 (Uber later revised the settings when Apple made it mandatory as a condition of hosting Uber and others in its app store, though Android users were still affected before Uber changed course.) Most consumers, who are generally further removed from Uber drama, accept data practices that are not in their best interests simply because they want a cheap taxi ride and a convenient service. It is clear that consumers can be taken advantage of through data exploits. And it’s not just individual consumers who are vulnerable—large companies can also get duped by sly data practices. Apple’s app store has specific privacy rules that all apps must follow, including the Uber app.


pages: 302 words: 74,878

A Curious Mind: The Secret to a Bigger Life by Brian Grazer, Charles Fishman

4chan, Airbnb, Albert Einstein, Apple II, Asperger Syndrome, Bonfire of the Vanities, en.wikipedia.org, game design, Google Chrome, Howard Zinn, Isaac Newton, Jeff Bezos, Kickstarter, Norman Mailer, orbital mechanics / astrodynamics, out of africa, RAND corporation, Ronald Reagan, Seymour Hersh, Silicon Valley, stem cell, Steve Jobs, Steve Wozniak, the scientific method, Tim Cook: Apple

Simpson Jared Cohen: director of Google Ideas Joel Cohen: population specialist, mathematical biologist Kat Cohen: university admissions counselor, author of The Truth About Getting In William Colby: CIA director, 1973–1976 Elizabeth Baron Cole: nutritionist Jim Collins: management consultant, expert on business and management, author of Good to Great Robert Collins: neurologist, former chairman of neurology at UCLA School of Medicine Sean Combs: musician, music producer, fashion designer, entrepreneur Richard Conniff: author who specializes in human and animal behavior Tim Cook: CEO of Apple, Inc. Tatiana Cooley-Marquardt: repeat winner of USA Memory Championship Anderson Cooper: journalist, author, TV personality, anchor of CNN’s Anderson Cooper 360 Norman Cousins: medical guru, author of Anatomy of an Illness: As Perceived by the Patient Jacques Cousteau: oceanographer, pioneered marine conservation Chris W.

Wilson: biologist, author, professor emeritus at Harvard University, two-time winner of the Pulitzer Prize Oprah Winfrey: founder and chairwoman of the Oprah Winfrey Network, actress, author George C. Wolfe: playwright, theater director, two-time winner of the Tony Award Steve Wozniak: cofounder of Apple Inc., designer of Apple I and Apple II computers, inventor John D. Wren: president and CEO of marketing and communications company Omnicom Will Wright: game designer, creator of Sim City and The Sims Steve Wynn: businessman, Las Vegas casino magnate Gideon Yago: writer, former correspondent for MTV News Eitan Yardeni: teacher and spiritual counselor at the Kabbalah Centre Daniel Yergin: economist, author of The Prize: The Epic Quest for Oil, Money and Power, winner of the Pulitzer Prize Dan York: chief content officer at DirecTV, former president of content and advertising sales, AT&T Michael W.

News & World Report, winner of the Pulitzer Prize for investigative reporting Jack Healey: human rights activist, former executive director of Amnesty International USA Thomas Heaton: seismologist, professor at California Institute of Technology, contributed to the development of earthquake early warning systems Peter Herbst: journalist, former editor of Premiere and New York magazines Danette Herman: talent executive for Academy Awards Seymour Hersh: investigative reporter, author, winner of the Pulitzer Prize for uncovering the My Lai massacre and its cover-up during the Vietnam War Dave Hickey: art and cultural critic who has written for Harper’s, Rolling Stone, and Vanity Fair Jim Hightower: progressive political activist, radio talk-show host Tommy Hilfiger: fashion designer, founder of lifestyle brand Christopher Hitchens: journalist and author who was a critic of politics and religion David Hockney: artist and major contributor to the Pop art movement in the 1960s Nancy Irwin: hypnotherapist Chris Isaak: musician, actor Michael Jackson: singer, songwriter, his 1982 album Thriller is the bestselling album of all time LeBron James: NBA basketball player Mort Janklow: literary agent, founder and chairman of the literary agency Janklow & Nesbit Associates Jay Z: musician, music producer, fashion designer, entrepreneur Wyclef Jean: musician, actor James Jebbia: CEO of the Supreme clothing brand Harry J. Jerison: paleoneurologist, professor emeritus at UCLA Steve Jobs: cofounder and former CEO of Apple Inc., cofounder and former CEO of Pixar Betsey Johnson: fashion designer Jamie Johnson: documentary filmmaker who directed Born Rich, heir to Johnson & Johnson fortune Larry C. Johnson: former analyst for the CIA, security and terrorism consultant Robert L. Johnson: businessman, media magnate, cofounder and former chairman of BET Sheila Johnson: cofounder of BET, first African American woman to be an owner/partner in three professional sports teams Steve Johnson: media theorist, popular science author, cocreated online magazine FEED Jackie Joyner-Kersee: Olympic gold medalist, track star Paul Kagame: president of Rwanda Michiko Kakutani: book critic for the New York Times, winner of the Pulitzer Prize for criticism Sam Hall Kaplan: former architecture critic for the Los Angeles Times Masoud Karkehabadi: wunderkind who graduated from college at age thirteen Patrick Keefe: author, staff writer for the New Yorker Gershon Kekst: founder of the corporate communications company Kekst and Co.


Alpha Girls: The Women Upstarts Who Took on Silicon Valley's Male Culture and Made the Deals of a Lifetime by Julian Guthrie

Airbnb, Apple II, barriers to entry, Bear Stearns, blockchain, Bob Noyce, call centre, cloud computing, credit crunch, disruptive innovation, Elon Musk, equal pay for equal work, fear of failure, game design, glass ceiling, hiring and firing, Jeff Bezos, Louis Pasteur, Lyft, Mark Zuckerberg, Menlo Park, Mitch Kapor, new economy, PageRank, peer-to-peer, pets.com, phenotype, place-making, Ronald Reagan, Rosa Parks, Sand Hill Road, Silicon Valley, Silicon Valley startup, Skype, Snapchat, software as a service, South of Market, San Francisco, stealth mode startup, Steve Jobs, Steve Wozniak, TaskRabbit, Tim Cook: Apple, Travis Kalanick, uber lyft, unpaid internship, upwardly mobile, urban decay, web application, William Shockley: the traitorous eight, women in the workforce

Things were not that different in the more recent gold rush. The Valley was always a region dominated by men, from William Hewlett, Dave Packard, Bob Noyce, Gordon Moore, Andy Grove, Larry Ellison, Steve Jobs, and Steve Wozniak to, decades later, in the twenty-first century, Larry Page, Sergey Brin, Mark Zuckerberg, Elon Musk, Tim Cook, Travis Kalanick, and Marc Benioff. Mary Jane, fueled by peanut butter sandwiches packed in wax paper for the two-day journey, was under no illusion that it would be easy to navigate the old boys’ club of Sand Hill Road and Silicon Valley. Even today, decades after Mary Jane first arrived, 94 percent of investing partners at venture capital firms—the financial decision makers shaping the future—are men, and more than 80 percent of venture firms have never had a woman investing partner.

Her first interview had been with Steve Jobs and Steve Wozniak of Apple. The founders invited double-e students to the LOTS computer center to hear a pitch about their three-year-old company. If the students liked what they heard, they could stay and be interviewed. Jobs, wearing wire-rimmed glasses and jeans, told Magdalena and the other double-e students that working for Apple would be like “an extension of college.” Magdalena was one of sixteen students who showed up for the interview. She loved the idea of working for Apple. Jobs had dropped out of college and spent time studying Hinduism and Buddhism in India.

When he was a teenager, he and a few friends started a company called Liberty Software to make adventure games for the Atari 800. He earned extra money going to people’s homes to repair antennas and CB radios, and he worked for Apple Computer the summer before his junior year at the University of Southern California. Largely unsupervised, Marc started writing software for a game about raiding IBM’s headquarters. His manager at Apple said the game wasn’t appropriate and later suggested Marc consider a job at Oracle. They had the best salespeople in the world, he was told. In his first year at Oracle, Benioff was named rookie of the year.


pages: 411 words: 98,128

Bezonomics: How Amazon Is Changing Our Lives and What the World's Best Companies Are Learning From It by Brian Dumaine

activist fund / activist shareholder / activist investor, AI winter, Airbnb, Amazon Web Services, Atul Gawande, autonomous vehicles, basic income, Bernie Sanders, Black Swan, call centre, Chris Urmson, cloud computing, corporate raider, creative destruction, Danny Hillis, Donald Trump, Elon Musk, Erik Brynjolfsson, future of work, gig economy, Google Glasses, Google X / Alphabet X, income inequality, independent contractor, industrial robot, Internet of things, Jeff Bezos, job automation, Joseph Schumpeter, Kevin Kelly, Lyft, Marc Andreessen, Mark Zuckerberg, money market fund, natural language processing, pets.com, Plutocrats, plutocrats, race to the bottom, ride hailing / ride sharing, Sand Hill Road, self-driving car, shareholder value, Silicon Valley, Silicon Valley startup, Snapchat, speech recognition, Steve Jobs, Stewart Brand, supply-chain management, Tim Cook: Apple, too big to fail, Travis Kalanick, Uber and Lyft, uber lyft, universal basic income, wealth creators, web application, Whole Earth Catalog

Stitch Fix built its online women’s clothing business around a smart algorithm that identifies which fashions its customers prefer. The impact that Bezonomics is having on society is just as profound. Some of the big tech companies are sowing discord with fake news, interfering with elections, and violating personal privacy. As Apple CEO Tim Cook put it: “If you’ve built a chaos factory, you can’t dodge responsibility for the chaos.” The global wealth gap has become so out of kilter that politicians in America and Europe have singled out Amazon and other big tech companies for blame. These wealth-creation machines have become so efficient at creating riches for their top employees and shareholders that they’re likely to engender more public outrage and become easy targets for regulators—perhaps in some cases even be broken up.

See also Alexa Bezos and development of, 49, 111 goal of becoming part of people’s lives with, 14–15 Internet of Things and, 123–24 introduction of, 26 Prime Video use with, 26 shopping assistance with, 115–16 Amazon Flex, 23, 172–73 Amazon 4-star stores, 24, 167 AmazonFresh, 170–71, 189 Amazon Go stores, 13, 24, 111, 139–41, 143, 167 Amazonia (Marcus), 41 Amazon Lending, 13, 233–34 Amazon Music, 10, 26, 80, 97, 98, 100, 220, 260 Amazon Pay, 234 Amazon Prime, 93–105, 109 addictive nature of, 98–99 AI flywheel and, 94, 99, 102, 115 Alexa and, 115 all-you-can-eat aspect of shipping and services with, 99 Amazon ecosystem around, 94 Amazon’s income from, 154 Amazon’s sale of its own products and, 153 annual fee for, 14 Bezos’s focus on shortening delivery time by, 22 corporate synergy with other Amazon services, 98 cross-category spending in, 100 customer data from, 101 customer service and selection in, 104–5 decision to launch, 95–96 free delivery options from, 4, 10, 14, 22, 80, 98, 101, 154, 171, 186 free services with, 97, 101–2 free shipping debate over, 96–97 growth in number of members of, 94 health-care purchases and, 226 household percentage having, 15 merchant’s expenses for, 146 naming of, 96 number of shoppers in, 14 1-Click design and, 18, 98, 232–33 Prime Video and new members in, 102–3 shopping behavior change with, 98 spending by members of, 95, 100 as stand-alone business within Amazon, 97–98 streaming music service with, 26 streaming video service with, 25 Whole Foods discount with, 97, 101, 168, 260 Amazon Prime Air, 179 Amazon Prime Now, 22, 171 Amazon Restaurants food delivery business, 64 Amazon Robotics Challenge, 138 Amazon Studios, 101–2 Amazon Visa card, 234 Amazon Web Services (AWS), 51–52 Bezos’s creation of, 7, 218 Bezos’s long-term vision for, 63–64 medical records using, 225 Prime with free storage space on, 97 profitability of, 25, 64, 65 small business use of, 10–11 ambient computing, 111 American Civil Liberties Union (ACLU), 36 American Culture and Faith Institute, 240 Anderson, Chris, 18 Anderson, Joel, 186 Anderson, Sterling, 175 Andreessen, Marc, 248 Android operating system, 14, 64, 225 Android TV, 237 Ant Financial, 198, 234–35 antitrust law, 257–68, 271 academic arguments for breakup under, 258–59 Amazon lobbyists on, 247 congressional testimony on, 258 critics and proposed breakup of Amazon under, 255, 257–58, 261, 263–64, 266–67 Department of Justice review in, 257, 267 European investigations under, 259 evidence showing lack of violation of, 259–60 historical background to, 264–66 Apollo software platform, 176 Apple AI skills and customer knowledge of, 8, 114 brand value of, 16 corporate campus of, 75 economic power of, 265–66 global wealth gap and, 271 health-care innovation and, 90, 222, 225 identification with founder, 53 iOS operating system of, 225 iWatch from, 222 Jobs’s working culture at, 55 Siri voice assistant app from, 108 Apple Music, 26, 98 Apple Pay, 234, 235 Apple TV, 237 Arcadia Group, 223 Aronowitz, Nona Willis, 16–17 artificial intelligence (AI) Alexa and voice recognition and, 108–9, 111, 112–13 Amazon’s application of, 270 Amazon smart speakers and, 109–10 Bezonomics and companies’ adaptation to, 125 black box and, 91, 147 business plans driven by, 4, 6, 86, 125, 269–70 buying model and, 85–87 coining of term, 107 connected devices and, 124 disruptive nature of, 125 doctors’ diagnosis using, 27 early voice recognition and, 108 Echo’s use of, 26 expectations for future of, 112–13 flywheel model and, 5, 88.

Perhaps the company’s most public failure was the Amazon Fire Phone. Apple’s iPhone, launched in 2007, had become a huge success, and Google had its fast-growing Android operating system. Why not, thought Bezos, develop a phone that would appeal to Amazon’s Prime members? In 2014, Amazon launched the Fire Phone, a smart device that sold for $650, making it competitive with the iPhone and Samsung’s Android phones. The phone, however, didn’t support many popular apps, including Google Maps and Starbucks, and some users complained how awkward it was to import programs such as the Apple iTunes library. The phone never caught the public’s imagination, and soon after the product’s launch Amazon took a massive write-down on its unsold inventory.


pages: 332 words: 100,245

Mine!: How the Hidden Rules of Ownership Control Our Lives by Michael A. Heller, James Salzman

23andMe, Airbnb, Berlin Wall, British Empire, Cass Sunstein, clean water, collaborative consumption, coronavirus, Covid-19, COVID-19, crowdsourcing, Donald Trump, Downton Abbey, Elon Musk, endowment effect, estate planning, facts on the ground, Fall of the Berlin Wall, Firefox, Garrett Hardin, gig economy, Hernando de Soto, Internet of things, land tenure, Mason jar, new economy, North Sea oil, offshore financial centre, oil rush, planetary scale, race to the bottom, recommendation engine, rent control, Richard Thaler, Ronald Coase, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, South China Sea, sovereign wealth fund, stem cell, surveillance capitalism, TaskRabbit, The future is already here, Tim Cook: Apple, Tragedy of the Commons, you are the product, Zipcar

Like millions of consumers, da Silva buys movies through his Apple iTunes account. To his surprise one day, he found that three movies he’d bought had disappeared from his account. He contacted Apple, looking for an explanation. He didn’t like the customer service agent’s answer, so he tweeted a dramatized version of his unsatisfying exchange—which promptly went viral. As he wrote: Me: Hey Apple, three movies I bought disappeared from my iTunes library. Apple: Oh yes, those are not available anymore. Thank you for buying them. Here are two movie rentals on us! Me: Wait…WHAT?? @tim_cook when did this become acceptable?

Ownership rewards two types of labor: physical and intellectual. Tending an apple orchard is physical; creating an apple pie recipe is intellectual. Granting ownership for physical labor is time-tested—that’s the origin of the intuition behind You reap what you sow. For producers, ownership motivates them to grow more apples because they can charge for what they grow. Consumers benefit, too. Ownership provides a quick and easy way to decide who gets the apples: whoever pays the market price gets a bite. If one person eats an apple, another can’t. But this trade-off does not hold for consumers of intellectual labor.

@tim_cook when did this become acceptable?… Apple: You see, we are just a store front. Me: Store front? Apple: Yeah, we take your money, but we are not responsible for what is sold. And, we certainly do NOT guarantee you get to keep anything you buy in our store front. We only guarantee that we get to keep your money. Me: I see….So that “Buy” button is meaningless? It should maybe be called: “Feelin Lucky”? Apple: I see you are unhappy. Have two more rentals on us. Linn Nygaard felt the same frustration, but with Amazon instead of Apple. An information technology consultant based in Oslo, Nygaard is often on the road.


pages: 257 words: 90,857

Everything's Trash, but It's Okay by Phoebe Robinson

23andMe, Airbnb, Bernie Madoff, Bernie Sanders, crack epidemic, Donald Trump, double helix, Downton Abbey, Elon Musk, feminist movement, Firefox, Lyft, Mahatma Gandhi, Mark Zuckerberg, microaggression, Rosa Parks, Silicon Valley, Silicon Valley startup, Tim Cook: Apple, uber lyft

Kennedy’s “Ask not what your country can do for you, ask what you can do for your country,” Michelle Obama’s “When they go low, we go high,” and the classic Ying Yang Twins rap lyric “Ay, bitch! Wait till you see my dick.” . . . Y’all, this is like when Apple hints there’s going to be a big announcement regarding the iPhone, so we all tune in to Tim Cook’s live stream of the product launch, and he’s just like, “The phone is slightly bigger,” and we’re all like, “Dat could’ve been a Post-it note message next to an empty bag of Chex Mix.” Ying Yang, your dicks are like practically all of the dicks that have ever been seen, so calm down.

For every one of these glaringly outrageous situations, there are thousands where going for the complaint case is just ignorant. Take, for example, that 2013 viral video of a lady going off on a Los Angeles Apple store employee because she thought she could roll in there sans an appointment and get replacement parts. Raise of hands if you’ve ever gone into an Apple store that wasn’t insanely crowded. For real, every time I go to Apple’s Genius Bar, I just see a line of Old Roses from Titanic who were formerly young hipsters, talking about how “it’s been eighty-four years” since they first walked into Apple, seeking help for their technology woes. Of course, waiting for something to be fixed when you weren’t planning on waiting can be annoying; however, losing your mind over something that insignificant is abuse of the complaint attaché case.

Then there was the De-Peening of 2017 aka very powerful men such as award-winning actor Kevin Spacey, legendary journalist Charlie Rose, comedian/auteur Louis C.K. watching their lives and careers implode following the uncovering of their sometimes decades-long sexual-deviant behavior, which ranged from harassment to sexual assault. And let’s not forget the murder of Harambe, the gorilla, at the Cincinnati Zoo; Apple removing the headphone jack from their iPhones because this company is hell-bent on being the Nurse Ratched of our time; or the first black bachelorette, Rachel Lindsay, incorrectly choosing Bryan over Peter, thus denying the world some cocoa, gap-teefed babies. Oh! And remember a few years ago when a dude in the US legit had Ebola and went bowling and ate chicken wings with friends instead of quarantining himself because #WhiteNonsense?


The Pirate's Dilemma by Matt Mason

"side hustle", Albert Einstein, augmented reality, barriers to entry, citizen journalism, creative destruction, don't be evil, Donald Trump, Douglas Engelbart, East Village, Firefox, future of work, glass ceiling, global village, Hacker Ethic, haute couture, Howard Rheingold, Internet of things, invisible hand, Isaac Newton, jimmy wales, job satisfaction, John Markoff, Joseph Schumpeter, Kickstarter, Lao Tzu, Marshall McLuhan, means of production, Naomi Klein, new economy, New Urbanism, patent troll, peer-to-peer, prisoner's dilemma, RAND corporation, RFID, Richard Florida, Richard Stallman, SETI@home, Silicon Valley, South China Sea, Stephen Hawking, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, Tim Cook: Apple, urban sprawl, Whole Earth Catalog

David Pinch, Jamie-James Medina, Seth Godin, Tom Curry, Susan Arciero and Milos Bang, Ryan Senser (for his idea of using a Venn diagram to illustrate the Pirate’s Dilemma), Sweet Joy Hachuela-Johansson, Corey Tatarczuk, Jacques DeJardin, Phoebe Eng and Zubin Schroff (for letting me hide out at their place in the Hamptons and get some serious writing done), my uncle Stephen Boyd, my uncle Graham Brown, Esther Gold, Chris Campion, Alex Donne Johnson, Fabio Scianna, Alicia Hansen, Mr. Richard Antwi, Kirk Vallis, Anthony Mouskoundi, Tim Cooke, Graeme Pretty, Jit Shergill, Dave McConachie, Rob Moore, Spencer Giles, Rob Marciano, Jon Allen, Gaby Marciano, Laura Sunley, Laurie Basannavar, Jeff Chang, Harold Anthony at jumpoff.tv, James Barrett, Dilia Baille, Shane Tomlinson, Marvin Lutrell, everyone at dissensus.com, all the staff at the Brooklyn Public Library, and Lynne D.

In May 2006 he financed a lawsuit that overturned New York legislation that banned anyone age eighteen to twenty from buying or carrying spray paint or broad-tipped marker pens, which effectively prohibited many art students from buying supplies for school, or even carrying them to class. Judge George B. Daniels granted a temporary injunction against the law, arguing, “That’s like telling me I can eat an apple, but I can’t buy an apple, no one can sell me an apple and I can’t bring it to work for lunch.” 110 | THE PIRATE’S DILEMMA hoax was spectacular* and his ongoing defense of street art and free speech is admirable, but some critics see nothing more than thinly veiled PR stunts for his multinational corporation. The one thing both artists proved for certain is that the media afterlife of a piece of graffiti can be way more powerful than its temporary terrestrial body.

If we also consider that over 800 million mobile phones are sold every year, which will all be able to receive music, and study the growth of new technologies and their application in the last century, the industry should be confident.” The jury is still out on Jenner’s solution, but EMI and Universal became the first major labels to begin selling MP3s without DRM encryption in 2007. That February, Apple’s Steve Jobs made a plea to all the record companies to abolish DRM completely, saying it was “clearly the best alternative for consumers, and Apple would embrace it in a heartbeat.” John Kennedy, Boundaries | 161 the CEO of the IFPI (the International Federation of Phonograph Industries), summed up the music industry’s new position on the Pirate’s Dilemma it faced: “At long last the threat has become the opportunity.”


pages: 303 words: 100,516

Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork by Reeves Wiedeman

Adam Neumann (WeWork), Airbnb, barriers to entry, Burning Man, call centre, carbon footprint, coronavirus, corporate governance, Covid-19, COVID-19, cryptocurrency, Donald Trump, dumpster diving, East Village, eat what you kill, Elon Musk, fear of failure, Gordon Gekko, housing crisis, index fund, Jeff Bezos, Lyft, margin call, Mark Zuckerberg, Maui Hawaii, medical residency, Menlo Park, mortgage debt, Network effects, new economy, prosperity theology / prosperity gospel / gospel of success, ride hailing / ride sharing, Sand Hill Road, sharing economy, Silicon Valley, Silicon Valley startup, Skype, Snapchat, software as a service, sovereign wealth fund, starchitect, stealth mode startup, Steve Jobs, Steve Wozniak, the High Line, Tim Cook: Apple, too big to fail, Travis Kalanick, Uber for X, uber lyft, WeWork, zero-sum game

No one had raised private capital in the 2010s as successfully as Neumann, and he became less concerned about the specifics of what WeWork could offer potential partners and more focused on pushing his fellow CEOs to commit to investing in his IPO. Even a token commitment from Salesforce or Apple would go a long way toward building support for the story Adam was telling to investors. In the spring, Adam secured a meeting with Tim Cook, Apple’s CEO. Neumann and Gross worked with Adrian Perica, Apple’s vice president of corporate development, and Luca Maestri, Apple’s CFO, to develop a pitch to Cook on a collaboration that could lead Apple—which was already invested in WeWork through the Vision Fund—to invest in WeWork’s IPO. When he visited Cupertino, Adam wore a T-shirt under a blazer and brought his dad.

Jen Berrent, the company’s lawyer, got frustrated when one new tech hire came in with a spreadsheet laying out various kinds of equity payment schemes. “You have to trust us,” Berrent said. To build out the tech team, Adam poached Shiva Rajaraman, an engineer who had bounced among jobs at YouTube, Spotify, and Apple; Adam told Rajaraman he should leave Apple because what WeWork was building would be “bigger than the iPhone.” WeWork’s tech team had grown from half a dozen people in 2013 to more than two hundred, but the first task facing Rajaraman remained fixing Space Station and Space Man. The insistence that WeWork build and maintain its systems in-house rather than outsourcing to an established software provider had lingering consequences.

America was preparing to reelect a former community organizer as president. Occupy Wall Street took over a park in lower Manhattan, and a sense persisted that the old world order no longer served humanity’s needs. WeWork was premised on the idea that even the most iconoclastic entrepreneurs couldn’t build a business without help. With Jobs having left Apple to deal with pancreatic cancer, Adam seemed eager to position his company as a rising star of the new economy and himself as a candidate for America’s next entrepreneur in chief. “The next decade is the ‘We’ decade,” he told the Daily News. “If you look closely, we’re already in a revolution.” Many of WeWork’s first employees were bewildered by Adam’s bombast.


pages: 303 words: 100,516

Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork by Reeves Wiedeman

Adam Neumann (WeWork), Airbnb, barriers to entry, Burning Man, call centre, carbon footprint, coronavirus, corporate governance, Covid-19, COVID-19, cryptocurrency, Donald Trump, dumpster diving, East Village, eat what you kill, Elon Musk, fear of failure, Gordon Gekko, housing crisis, index fund, Jeff Bezos, Lyft, margin call, Mark Zuckerberg, Maui Hawaii, medical residency, Menlo Park, mortgage debt, Network effects, new economy, prosperity theology / prosperity gospel / gospel of success, ride hailing / ride sharing, Sand Hill Road, sharing economy, Silicon Valley, Silicon Valley startup, Skype, Snapchat, software as a service, sovereign wealth fund, starchitect, stealth mode startup, Steve Jobs, Steve Wozniak, the High Line, Tim Cook: Apple, too big to fail, Travis Kalanick, Uber for X, uber lyft, WeWork, zero-sum game

No one had raised private capital in the 2010s as successfully as Neumann, and he became less concerned about the specifics of what WeWork could offer potential partners and more focused on pushing his fellow CEOs to commit to investing in his IPO. Even a token commitment from Salesforce or Apple would go a long way toward building support for the story Adam was telling to investors. In the spring, Adam secured a meeting with Tim Cook, Apple’s CEO. Neumann and Gross worked with Adrian Perica, Apple’s vice president of corporate development, and Luca Maestri, Apple’s CFO, to develop a pitch to Cook on a collaboration that could lead Apple—which was already invested in WeWork through the Vision Fund—to invest in WeWork’s IPO. When he visited Cupertino, Adam wore a T-shirt under a blazer and brought his dad.

Jen Berrent, the company’s lawyer, got frustrated when one new tech hire came in with a spreadsheet laying out various kinds of equity payment schemes. “You have to trust us,” Berrent said. To build out the tech team, Adam poached Shiva Rajaraman, an engineer who had bounced among jobs at YouTube, Spotify, and Apple; Adam told Rajaraman he should leave Apple because what WeWork was building would be “bigger than the iPhone.” WeWork’s tech team had grown from half a dozen people in 2013 to more than two hundred, but the first task facing Rajaraman remained fixing Space Station and Space Man. The insistence that WeWork build and maintain its systems in-house rather than outsourcing to an established software provider had lingering consequences.

America was preparing to reelect a former community organizer as president. Occupy Wall Street took over a park in lower Manhattan, and a sense persisted that the old world order no longer served humanity’s needs. WeWork was premised on the idea that even the most iconoclastic entrepreneurs couldn’t build a business without help. With Jobs having left Apple to deal with pancreatic cancer, Adam seemed eager to position his company as a rising star of the new economy and himself as a candidate for America’s next entrepreneur in chief. “The next decade is the ‘We’ decade,” he told the Daily News. “If you look closely, we’re already in a revolution.” Many of WeWork’s first employees were bewildered by Adam’s bombast.


pages: 385 words: 101,761

Creative Intelligence: Harnessing the Power to Create, Connect, and Inspire by Bruce Nussbaum

3D printing, Airbnb, Albert Einstein, Berlin Wall, Black Swan, Chuck Templeton: OpenTable:, clean water, collapse of Lehman Brothers, creative destruction, Credit Default Swap, crony capitalism, crowdsourcing, Danny Hillis, declining real wages, demographic dividend, disruptive innovation, Elon Musk, en.wikipedia.org, Eugene Fama: efficient market hypothesis, Fall of the Berlin Wall, follow your passion, game design, housing crisis, Hyman Minsky, industrial robot, invisible hand, James Dyson, Jane Jacobs, Jeff Bezos, jimmy wales, John Gruber, John Markoff, Joseph Schumpeter, Kickstarter, lone genius, longitudinal study, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Martin Wolf, new economy, Paul Graham, Peter Thiel, QR code, race to the bottom, reshoring, Richard Florida, Ronald Reagan, shareholder value, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, six sigma, Skype, Steve Ballmer, Steve Jobs, Steve Wozniak, supply-chain management, Tesla Model S, The Chicago School, The Design of Experiments, the High Line, The Myth of the Rational Market, thinkpad, Tim Cook: Apple, too big to fail, tulip mania, We are the 99%, Y Combinator, young professional, Zipcar

We have recently seen a spate of what seemed to be innovative companies fail in maintaining that aura in their products, and there is no guarantee that Apple will succeed despite Jobs’s assurances that his successor, Tim Cook, understands the need to have goals that transcend simply making a profit. Certainly Apple’s aura has been compromised because of labor conditions at Foxconn, the Chinese manufacturer of iPads and iPhones, as well as the less than perfect launch of Apple Maps. The power of aura cannot be underestimated. I remember seeing a Ferrari designed by Italian firm Pininfarina at a conference in the mid-nineties that mesmerized me.

But the technology of our time—their improved features and lowered costs, their ability to make us all creators and not just passive users—can, in fact, connect people in ways that the films or photographs of seven decades ago could not. As with many of the Creative Intelligence competencies, the road leads back to Apple. Consumers call Apple products “cool” and “easy to use,” and more sophisticated business analysts applaud Apple’s “ecosystem” of integrated software and hardware. But none of those qualities alone explains why we feel the way we do about Apple products; it’s impossible to discuss Apple products without mentioning how they feel in the hand, look to the eye, and connect to our deep emotions. The story of how Apple began creating beautiful, easy-to-use products should be required reading for anyone interested in creating something that’s not just useful but meaningful.

Browning, Steven Russolillo, and Jessica E. Vascellaro, “Apple Now Biggest-Ever U.S. Company,” Wall Street Journal, August 20, 2012, accessed October 22, 2012, http://online.wsj.com/article/ SB10000872396390443855804577601773524745182.html; “Apple Becomes the Most Valuable Company Ever,” CBS Money Watch, August 20, 2012, accessed October 22, 2012, http://www.cbsnews.com/8301-505123_ 162-57496461/apple-becomes-most-valuable-company-ever/. In inflation-adjusted dollars, Microsoft was valued at about $850 billion in 1999, higher than Apple in August 2012. Many Wall Street analysts are predicting that Apple’s stock would rise to $800 and perhaps even $1,000 over the next year or two, which would give it a market capitalization higher than Microsoft even when inflation is taken into account. 263 There are clear lessons: Japan’s great moment of innovation in the 1970s and 80s came from a small group of post–World War II entrepreneurs, such as Sony’s Akita Morita, who were not connected with the country’s giant zaibatsus, or conglomerates.


pages: 788 words: 223,004

Merchants of Truth: The Business of News and the Fight for Facts by Jill Abramson

23andMe, 4chan, Affordable Care Act / Obamacare, Alexander Shulgin, Apple's 1984 Super Bowl advert, barriers to entry, Bernie Madoff, Bernie Sanders, Charles Lindbergh, Chelsea Manning, citizen journalism, cloud computing, commoditize, corporate governance, creative destruction, crowdsourcing, death of newspapers, digital twin, diversified portfolio, Donald Trump, East Village, Edward Snowden, Ferguson, Missouri, Filter Bubble, future of journalism, glass ceiling, Google Glasses, haute couture, hive mind, income inequality, information asymmetry, invisible hand, Jeff Bezos, Joseph Schumpeter, Khyber Pass, late capitalism, Marc Andreessen, Mark Zuckerberg, move fast and break things, move fast and break things, Nate Silver, new economy, obamacare, Occupy movement, performance metric, Peter Thiel, phenotype, pre–internet, race to the bottom, recommendation engine, Robert Mercer, Ronald Reagan, Saturday Night Live, self-driving car, sentiment analysis, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, skunkworks, Snapchat, social intelligence, social web, Steve Bannon, Steve Jobs, Steven Levy, technoutopianism, telemarketer, the scientific method, The Wisdom of Crowds, Tim Cook: Apple, too big to fail, WeWork, WikiLeaks, Yochai Benkler, you are the product

I scrambled to find the appropriate editors to work on these projects in teams often co-led with the business side. I invited Thompson to accompany me on a trip to Silicon Valley. I had been invited to give a speech at San Francisco’s Commonwealth Club, to be the guest at one of Sheryl Sandberg’s monthly gatherings in her home for the most influential women in tech, and for lunch with Apple CEO Tim Cook, with whom I was trying to create better communication after he took umbrage over the Times’s series on his company. We chatted amiably through the three-day trip. He told me several times that he was developing a plan to restructure the leadership of the Times. I feared this didn’t bode well for the independence of the newsroom.

Two days after the election, Bezos tried to bury the hatchet, tweeting, “Congratulations to @realDonaldTrump. I for one give him my most open mind and wish him great success in his service to the country.” Trump ended up inviting Bezos to attend a tech summit at the White House in June 2017 to discuss ways to modernize the government’s technology. Along with Apple’s Tim Cook and Microsoft’s CEO Satya Nadella, Bezos was a member of Trump’s American Technology Council, sitting with an impassive look on his face just a seat away from the president. But the detente did not last long. Less than a week later, the President tweeted, “The #AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes (which they should) is FAKE NEWS!”

Within 24 hours: Sarah Phillips, “A Brief History of Facebook,” Guardian, July 25, 2007, https://www.theguardian.com/technology/2007/jul/25/media.newmedia. “You had the underpinnings: Chris Cox, interviewed by Martin Nisenholtz, Digital Riptide, April 1, 2013, https://www.digitalriptide.org/person/chris-cox/. “iPhone is a revolutionary: “Apple Reinvents the Phone with iPhone,” Apple, Inc. (press release), January 9, 2007, https://www.apple.com/newsroom/2007/01/09Apple-Reinvents-the-Phone-with-iPhone/. The release date was set: “Where Would Jesus Queue?,” The Economist, July 5, 2007, https://www.economist.com/business/2007/07/05/where-would-jesus-queue. With seed funding: Tanner Greenring, Scott Lamb, Jack Shepherd, Matt Stopera, and Peggy Wang, interviewed by Jill Abramson and John Stillman, New York, June 26, 2015.


pages: 327 words: 90,542

The Age of Stagnation: Why Perpetual Growth Is Unattainable and the Global Economy Is in Peril by Satyajit Das

"Robert Solow", 9 dash line, accounting loophole / creative accounting, additive manufacturing, Airbnb, Albert Einstein, Alfred Russel Wallace, Anton Chekhov, Asian financial crisis, banking crisis, Bear Stearns, Berlin Wall, bitcoin, bond market vigilante , Bretton Woods, BRICs, British Empire, business cycle, business process, business process outsourcing, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, Clayton Christensen, cloud computing, collaborative economy, colonial exploitation, computer age, creative destruction, cryptocurrency, currency manipulation / currency intervention, David Ricardo: comparative advantage, declining real wages, Deng Xiaoping, deskilling, disintermediation, disruptive innovation, Downton Abbey, Emanuel Derman, energy security, energy transition, eurozone crisis, financial innovation, financial repression, forward guidance, Francis Fukuyama: the end of history, full employment, gig economy, Gini coefficient, global reserve currency, global supply chain, Goldman Sachs: Vampire Squid, happiness index / gross national happiness, Honoré de Balzac, hydraulic fracturing, Hyman Minsky, illegal immigration, income inequality, income per capita, indoor plumbing, informal economy, Innovator's Dilemma, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, John Maynard Keynes: technological unemployment, Kenneth Rogoff, knowledge economy, knowledge worker, light touch regulation, liquidity trap, Long Term Capital Management, low skilled workers, Lyft, Mahatma Gandhi, margin call, market design, Marshall McLuhan, Martin Wolf, Mikhail Gorbachev, mortgage debt, mortgage tax deduction, new economy, New Urbanism, offshore financial centre, oil shale / tar sands, oil shock, old age dependency ratio, open economy, passive income, peak oil, peer-to-peer lending, pension reform, Plutocrats, plutocrats, Ponzi scheme, Potemkin village, precariat, price stability, profit maximization, pushing on a string, quantitative easing, race to the bottom, Ralph Nader, Rana Plaza, rent control, rent-seeking, reserve currency, ride hailing / ride sharing, rising living standards, risk/return, Robert Gordon, Ronald Reagan, salary depends on his not understanding it, Satyajit Das, savings glut, secular stagnation, seigniorage, sharing economy, Silicon Valley, Simon Kuznets, Slavoj Žižek, South China Sea, sovereign wealth fund, TaskRabbit, The Chicago School, The Great Moderation, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, the market place, the payments system, The Spirit Level, Thorstein Veblen, Tim Cook: Apple, too big to fail, total factor productivity, trade route, transaction costs, uber lyft, unpaid internship, Unsafe at Any Speed, Upton Sinclair, Washington Consensus, We are the 99%, WikiLeaks, Y2K, Yom Kippur War, zero-coupon bond, zero-sum game

Between 1979 and 2005, around 70 percent of increases in income accrued to the top 0.1 percent of workers. In the 1950s, the average US chief executive officer was paid around twenty times the typical employee. Currently, the pay ratio of a CEO to an average employee is in excess of 200 times. In 2011, Apple CEO Tim Cook was paid US$378 million in salary, stock, and other benefits, over 6,000 times the earnings of an average Apple employee. At Walmart, the CEO earned 900 times the earnings of a typical worker. Deregulation, incentive-based remuneration, the use of equity options, managers’ bargaining powers, and their ability to convince remuneration committees of a shortage of talent all boosted compensation packages.

Ironically, China's new socialism did not unite the workers of the world, but divided them, triggering “the profoundest global reshuffle of people's economic positions since the Industrial Revolution.”4 Automation increased both corporate profits and income inequality. Apple's ubiquitous i-gadgets consist of components made in multiple countries and assembled in China, with the supply chain being managed in the US by Apple, which earns around 30–50 percent of the final price. The process favors skilled labor, reducing the share of revenue accruing to low-skilled workers. Similar complex and fragmented production processes apply to the products that constitute around 85 percent of global GDP.

By 2014, total cash balances worldwide were as much as US$7 trillion, roughly double the level of ten years earlier. American corporations held over US$1.7 trillion in cash. The five largest hoarders alone held around half a billion dollars in cash. Technology firms held around US$690 billion in cash, roughly double the levels of five years ago. Apple alone held over US$170 billion. Over 60 percent of this cash was held abroad. Interestingly, the large cash balances coexisted with elevated overall corporate debt levels. Many corporations borrowed at home to fund their spending, taking advantage of low interest rates and avoiding paying taxes on repatriated overseas profits.


pages: 379 words: 109,223

Frenemies: The Epic Disruption of the Ad Business by Ken Auletta

Airbnb, barriers to entry, Bernie Sanders, Boris Johnson, Build a better mousetrap, Burning Man, call centre, carbon footprint, cloud computing, commoditize, connected car, corporate raider, crossover SUV, disintermediation, Donald Trump, Elon Musk, forensic accounting, Google Glasses, Internet of things, Jeff Bezos, Khan Academy, Lyft, Mark Zuckerberg, market design, Menlo Park, move fast and break things, move fast and break things, Naomi Klein, NetJets, Network effects, pattern recognition, pets.com, race to the bottom, Richard Feynman, ride hailing / ride sharing, Saturday Night Live, self-driving car, sharing economy, Shoshana Zuboff, Silicon Valley, Snapchat, Steve Ballmer, Steve Jobs, surveillance capitalism, The Theory of the Leisure Class by Thorstein Veblen, Tim Cook: Apple, transaction costs, Uber and Lyft, uber lyft, Upton Sinclair, éminence grise

—David Ogilvy If Jon Mandel’s March 2015 speech to the ANA sparked a client revolt that year, by 2016 signs were growing of a wider and more ominous revolt, a revolt by consumers against all advertising, as mobile technology brought ads more intimately and insistently into people’s lives but at the same time gave them new tools to block them. The marketing community gulped when Apple, which three decades before had famously aired a TV ad that declared a rebellion against the ruling IBM computer Goliath, now seemed to want to smash most advertising. Tim Cook, the CEO of Apple, stood on a San Francisco stage late that summer and announced that Apple would offer a new operating system for iPhones and iPads that would contain apps empowering users to block ads. Apple, which received less than one percent of its revenues from advertising, was helping consumers seal their devices from ads.

The user experience must be paramount, Apple proclaimed. No, no, proclaimed Web sites, media companies, marketers, and ad-reliant companies like Facebook and Google: our ability to inform users and subsidize content is crippled by ad blockers. Those dependent on advertising accused Apple and ad blockers of murder. Apple and ad blocker advocates accused advertisers of committing suicide with mindless and intrusive ads. What neither Apple nor Google said publicly was that Apple’s maneuver was part of a raging war between Apple and Google for smartphone supremacy. Apple made its money selling hardware and software; Google made its money selling ads.

And their abundant data allows a peek into private lives, employing this information as a marketing tool. Apple raised its voice against Facebook and Google. With little reliance on advertising, in September 2017 Apple wielded privacy as a weapon against its digital competitors. For its upgraded Safari browser, Apple said it would limit how advertisers and websites could use cookies to track and target users. Apple was, once again, portraying itself as a company on the side of consumers and their privacy. Arrayed against Apple were the trade groups of the entire advertising universe—the Interactive Advertising Bureau, the ANA, and the 4A’s. In an open letter, they accused Apple of “sabotage,” insisting that the blocking of cookies could murder the advertising business.


pages: 385 words: 111,113

Augmented: Life in the Smart Lane by Brett King

23andMe, 3D printing, additive manufacturing, Affordable Care Act / Obamacare, agricultural Revolution, Airbnb, Albert Einstein, Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, Apple II, artificial general intelligence, asset allocation, augmented reality, autonomous vehicles, barriers to entry, bitcoin, blockchain, business intelligence, business process, call centre, chief data officer, Chris Urmson, Clayton Christensen, clean water, congestion charging, crowdsourcing, cryptocurrency, deskilling, different worldview, disruptive innovation, distributed generation, distributed ledger, double helix, drone strike, Elon Musk, Erik Brynjolfsson, Fellow of the Royal Society, fiat currency, financial exclusion, Flash crash, Flynn Effect, future of work, gig economy, Google Glasses, Google X / Alphabet X, Hans Lippershey, Hyperloop, income inequality, industrial robot, information asymmetry, Internet of things, invention of movable type, invention of the printing press, invention of the telephone, invention of the wheel, James Dyson, Jeff Bezos, job automation, job-hopping, John Markoff, John von Neumann, Kevin Kelly, Kickstarter, Kim Stanley Robinson, Kodak vs Instagram, Leonard Kleinrock, lifelogging, low earth orbit, low skilled workers, Lyft, M-Pesa, Mark Zuckerberg, Marshall McLuhan, megacity, Metcalfe’s law, Minecraft, mobile money, money market fund, more computing power than Apollo, Network effects, new economy, obamacare, Occupy movement, Oculus Rift, off grid, packet switching, pattern recognition, peer-to-peer, Ray Kurzweil, RFID, ride hailing / ride sharing, Robert Metcalfe, Satoshi Nakamoto, Second Machine Age, selective serotonin reuptake inhibitor (SSRI), self-driving car, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, smart transportation, Snapchat, social graph, software as a service, speech recognition, statistical model, stem cell, Stephen Hawking, Steve Jobs, Steve Wozniak, strong AI, TaskRabbit, technological singularity, telemarketer, telepresence, telepresence robot, Tesla Model S, The future is already here, The Future of Employment, Tim Cook: Apple, trade route, Travis Kalanick, Turing complete, Turing test, uber lyft, undersea cable, urban sprawl, V2 rocket, Watson beat the top human players on Jeopardy!, white picket fence, WikiLeaks

That summer, Google made an eight-pound prototype of a computer meant to be worn on the face. To Ive, then unaware of Google’s plans, “the obvious and right place” for such a thing was the wrist. When he later saw Google Glass, Ive said, it was evident to him that the face “was the wrong place.” [Tim Cook, Apple’s C.E.O.] said, “We always thought that glasses were not a smart move, from a point of view that people would not really want to wear them. They were intrusive, instead of pushing technology to the background, as we’ve always believed.” Ian Parker on Jonathan Ive’s thinking about wearable notification devices20 As context becomes critical to better engagement, functionality is already shifting away from apps.

Contrary to popular belief, IBM wasn’t the first company to create a personal computer (PC). In the early 1970s, Steve Jobs and Steve Wozniak had been busy working on their own version of the personal computer. The result—the first Apple computer (retrospectively known as the Apple I)—actually preceded the IBM model6 by almost five years, and used a very different engineering approach. However, it wasn’t until Apple launched the Apple II that personal computing really became a “thing”. Figure 3.2: An original Apple I computer designed by Jobs and Wozniak and released in 19767 (Credit: Bonhams New York) Around the same time as Jobs and Wozniak’s development of the earliest form of PC, there was also a rapid downsizing of computers in the workplace.

Let’s dive deeper into this concept of adding years to our lives and life to our years, and building our brains while we are at it, before looking at how to activate the protection against linear decay, and upgrading ourselves. Figure 5.5: Apple’s HealthKit measures 67 different categories. (Credit: Apple) QS products started off as separate products and, by 2013, had reached over US$200 million a year in sales, primarily for devices that counted steps and calculated calories based on height, age and weight input by the user. Several apps have duplicated or emulated this functionality in iOS and Androids. Such an app functionality became part of the Apple iOS in 2015, in large part to increase the functionality and usefulness of the Apple Watch. Apple calls this particular app HealthKit. As you can see from the screen shot of Apple’s HealthKit app in figure 5.5, there are seven major categories (body measurements, fitness, me, nutrition, results, sleep and vitals) and 67 separate categories under All, ranging from active calories through to zinc levels.


pages: 334 words: 104,382

Brotopia: Breaking Up the Boys' Club of Silicon Valley by Emily Chang

23andMe, 4chan, Ada Lovelace, affirmative action, Airbnb, Apple II, augmented reality, autonomous vehicles, barriers to entry, Bernie Sanders, Burning Man, California gold rush, Chuck Templeton: OpenTable:, David Brooks, Donald Trump, Elon Musk, equal pay for equal work, Ferguson, Missouri, game design, gender pay gap, Google Glasses, Google X / Alphabet X, Grace Hopper, high net worth, Hyperloop, Jeff Bezos, job satisfaction, Khan Academy, Lyft, Marc Andreessen, Mark Zuckerberg, Maui Hawaii, Menlo Park, meta-analysis, microservices, paypal mafia, Peter Thiel, post-work, pull request, ride hailing / ride sharing, rolodex, Saturday Night Live, shareholder value, side project, Silicon Valley, Silicon Valley startup, Skype, Snapchat, Steve Jobs, Steve Wozniak, Steven Levy, subscription business, Tim Cook: Apple, Travis Kalanick, uber lyft, women in the workforce

Seeing a more inclusive workforce in Silicon Valley will encourage more girls and women studying computer science now. “People that just merely point to the pipeline issue, they don’t get it,” Apple’s CEO, Tim Cook, told me at a 2017 fundraiser for a girls’ high school. “The tech companies have a lot to do ourselves. The truth is that in aggregate we all don’t do a good job retaining either.” Diversity matters at Apple, Cook said, because without that mixture of input it would be impossible to create the most desirable products on the planet. To be clear, Apple’s diversity numbers (which include its retail store employees) are also average by Silicon Valley standards, with women representing 32 percent of employees worldwide and 23 percent of tech roles.

“Of course I do”: Sheryl Sandberg, “Sheryl Sandberg: Bloomberg Studio 1.0 (Full Show),” interview by author, Bloomberg, Aug. 9, 2017, video, 24:16, https://www.bloomberg.com/news/videos/2017-08-10/sheryl-sandberg-bloomberg-studio-1-0-full-show-video. “broader group of employees”: “Uber Report: Eric Holder’s Recommendations for Change.” A true marvel: Steven Levy, “One More Thing: Inside Apple’s Insanely Great (or Just Insane) New Mothership,” Wired, May 16, 2017, https://www.wired.com/2017/05/apple-park-new-silicon-valley-campus. “everything an Apple employee”: Beth Spotswood, “Apple’s Campus Has Everything—Oh, Except Daycare,” SFist, May 19, 2017, http://sfist.com/2017/05/19/apples_campus_has_everything_-_oh_e.php. Because child care has proven: Rose Marcario, “Patagonia’s CEO Explains How to Make On-Site Child Care Pay for Itself,” Fast Company, Aug. 15, 2016, https://www.fastcompany.com/3062792/patagonias-ceo-explains-how-to-make-onsite-child-care-pay-for-itself.

Holder noted that an earlier dinner would allow a “broader group of employees” to utilize the benefit—including those who “have spouses or families waiting for them at home”—and signal an earlier end to the workday. Uber complied. In April 2017, as I was writing this book, Apple opened its new spare-no-expense, spaceship-like campus, Apple Park, at a cost of $5 billion. A true marvel, it includes four-story sliding glass doors, rotating elevators, and a 100,000-square-foot wellness center (plus a two-story yoga room), not to mention a carbon-fiber roof and nine thousand drought-resistant trees. One thing it doesn’t have is a child-care facility. One blogger quipped, Apple’s new campus has “everything an Apple employee could wish for, unless they have children in which case: tough.” Sure, child care might be hard to execute, but Silicon Valley has never claimed to be normal or shied away from hard problems.


pages: 382 words: 105,819