Apple: Tim Cook's tenure at the tech giant has been fruitful

9/8/22 8:00PM

Apple's latest iPhone reveal — complete with a full roster of supporting acts — took place on Wednesday**.** Millions tuned in to see the iPhone 14 and a refresh of Apple's most-popular wearables, including new AirPod Pro's and a more resilient Apple Watch.

‍If it ain't broke...

‍Critics will complain that, even with some cool design updates, the iPhone 14 is more of an evolution than a revolution on the product side. That's a fair critique — and one that's been levelled at Apple many times since Tim Cook took over as CEO from Steve Jobs in 2011. The strongest rebuttal to that criticism is seen in the chart above: during Cook's tenure sales have more than tripled and the company's share price is up more than tenfold.

While the product line-up may not have changed dramatically, Apple's Services division is undergoing a revolution. Services include the App Store, Apple Music, Apple Pay, Apple TV and a new area of intense focus — advertising. Just 18 months since Apple made major changes to its privacy policy, which made it harder for digital ad platforms like Facebook to target ads at users, they're now beefing up their own advertising effort. The company is reportedly looking to double its advertising workforce, suggesting that even Apple can't resist the high margin temptation of selling advertising space on its most valuable properties.

The one surprise from the announcement was that iPhone prices won't be going up in the US or Canada, bucking the inflationary trend seen in so many other industries. The company, it seems, is comfortable sacrificing some margin on the iPhone in order to keep the device at the center of the Apple ecosystem.

The next big product innovation from Apple? You may have to wait until the Apple Car.

Jon Keegan14h

Report: Some of Meta’s new AI models will eventually be open-source

Axios reports that Meta is close to releasing its first new AI models after setting up its “superintelligence” team led by former Scale.AI CEO Alexandr Wang, and some of the models will eventually be released with an open-source license.

Per the report, Meta sees an opportunity to focus on consumers, rather than the lucrative enterprise market that both OpenAI and Anthropic have been focusing on.

Meta had previously embraced open-source AI with its Llama models, with CEO Mark Zuckerberg writing a manifesto declaring open-source AI as “the path forward.” Axios says that Meta will be pursuing more of a hybrid strategy of proprietary and open-source models going forward.

The New York Times previously reported that Meta was delaying the launch of its new AI model because of performance issues.

Scoop: Meta will still open-source AI models — just not all of them

The New York Times previously reported that Meta was delaying the launch of its new AI model because of performance issues.

OpenAI’s plan for an AGI world: AI for all and a 4-day workweek

The company’s policy paper calls for a new social contract that includes AI at the center of everything, which could lower costs and create cures for diseases, but also warned it may upend the public safety net.

Jon Keegan14h

🏠 $2.15M

Jon Keegan16h

The median price for a house in San Francisco is now $2.15 million, jumping 18% from last year. The AI startup boom is pushing what was already one of the most expensive housing markets to dizzying new heights. The median price for condos in the city jumped 27% to reach $1.36 million, according to data from Compass, reported by Bloomberg.

Jon Keegan17h

Report: OpenAI on track to burn $85 billion in 2028, expects profitability by 2030

Anthropic and OpenAI are racing to go public this year, and all eyes are on how long they can sustain burning billions in cash before they achieve something that looks like a viable business.

Investors have seen both companies’ projections, and there’s no sign of slowing down, according to a report from The Wall Street Journal.

OpenAI expects to burn tens of billions per year for the rest of the decade, peaking at $85 billion in 2028, before achieving profitability in 2030, per the report.

Anthropic will also continue to burn cash for years — far less than OpenAI — but it projects that 2026 will be its biggest year of losses. It targets 2029 for profitability, fueled by exploding enterprise revenue.

An Inside Look at OpenAI and Anthropic’s Finances Ahead of Their IPOs

OpenAI expects to burn tens of billions per year for the rest of the decade, peaking at $85 billion in 2028, before achieving profitability in 2030, per the report.

Form Energy iron-air battery system leaving Form Factory 1

Big batteries are the newest answer to Big Tech’s big energy needs

America’s booming energy demand is creating a powerful case for large-scale energy storage.

Patrick Sisson4/2/26