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Tag: Tim Cook

  • Apple teases ‘big week’ of product launches, starting Monday – Tech Digest

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    Apple CEO Tim Cook has officially signalled the start of a major hardware blitz, confirming that a week of product announcements will kick off this coming Monday, March 2.

    In a cryptic teaser posted to X (formerly Twitter), Cook promised a “big week ahead,” featuring a video of hands manipulating a silver, aluminium Apple logo—a clear nod to the company’s iconic MacBook and iPad industrial design.

    Unlike Apple’s traditional high-profile keynote events at Apple Park, this rollout appears to be a multi-day series of digital reveals. The company is expected to drip-feed announcements via press releases and videos throughout the early week, culminating in exclusive media “experiences” on Wednesday in New York City, London, and Shanghai, where journalists will get hands-on time with the new gear.

    iPhone 17e and iPad overhaul

    Analysts and leakers point to a refreshed lineup that bridges the gap between Apple’s entry-level devices and its pro-grade hardware. The most anticipated reveal is the iPhone 17e. Following last year’s successful debut of the 16e, Apple seems to be moving toward an annual update cycle for its more affordable smartphone.

    The iPad family is also due for a significant overhaul. We are likely to see an 11th-generation base model iPad, potentially featuring internal upgrades to support “Apple Intelligence.” Additionally, the iPad Air is expected to jump from the M3 chip to the M4, bringing it closer in performance to the current iPad Pro.

    Historic shift for Mac

    Perhaps the most intriguing rumour involves a fundamental change to the Mac architecture. Experts predict Apple may unveil the first MacBook powered by an A-series chip – the same class of processor found in the iPhone – aimed at creating an ultra-affordable, highly efficient entry-level laptop.

    Meanwhile, the MacBook Air and higher-end MacBook Pro models are expected to receive refreshes, likely standardizing the M5 chip across the portable lineup. With new desktop displays also rumoured, Apple’s week of releases looks set to touch almost every corner of its ecosystem.

     

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    Chris Price

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  • FTC warns Apple’s Tim Cook over alleged political bias in its Apple News app

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    The Federal Trade Commission on Thursday sent a warning letter to Apple CEO Tim Cook about Apple News, pointing to reports claiming the news aggregator “systematically boosts left-wing sources and suppresses right-wing sources.”

    FTC Chairman Andrew Ferguson alerted the tech giant’s chief executive that, if the allegations are true, the company could be violating the FTC Act, a law that prohibits unfair or deceptive acts or practices. The Apple News app aggregates news stories from a range of digital publications to curate content tailored to consumers’ preferences.  

    Ferguson, who cited research from the Media Research Center, a right-leaning watchdog group, said that tech companies that feature news articles based on a publication’s “perceived ideological or political viewpoint” may violate the law. The FTC chief asked Apple to review its article curation and “take corrective action swiftly” if it is excluding conservative news sources.

    Policies that exclude some news sources “stifle the free exchange of ideas, manipulate the public discourse and are inconsistent with American values,” Ferguson wrote.

    Apple did not immediately respond to CBS News’ request for comment.

    The FTC cited a report from the Media Research Center that analyzed more than 600 stories featured by Apple News in users’ feeds from Jan. 1 to Jan. 31. The analysis found that more than 400 of the stories Apple News featured came from outlets perceived to be left-leaning, and that news sources perceived to be right-leaning did not appear in users’ digital news feeds.

    The Media Research Center says it relies on AllSides, a company that rates the perceived political bias of online publications, for determining a news source’s perspective.

    Ferguson also argued that Apple may be violating its own terms and conditions of service if it doesn’t disclose to consumers practices that could “cause substantial injury that is neither reasonably avoidable nor outweighed by countervailing benefits to consumers or competition.”

    Nevertheless, the FTC chief noted that the agency “is not the speech police.”

    “[W]e do not have authority to require Apple or any other firm to take affirmative positions on any political issue, nor to curate news offerings consistent with one ideology or another,” Ferguson added.

    But, he noted, the agency has a mandate from Congress to ensure that consumers are protected from “material misrepresentations and omissions, including when the product or service offered to consumers is a speech-related product.”

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  • US FTC airs concerns over allegations that Apple News suppresses right-wing content | TechCrunch

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    The U.S. Federal Trade Commission (FTC) has raised concerns over allegations that Apple is censoring conservative content on the Apple News app.

    In a letter to Apple CEO Tim Cook, FTC chair Andrew Ferguson cited reports from Media Research Center, a right-leaning think tank, which accused Apple of excluding right-leaning outlets from the top 20 articles in the Apple News feed.

    “These reports raise serious questions about whether Apple News is acting in accordance with its terms of service and its representations to consumers […] I abhor and condemn any attempt to censor content for ideological reasons,” Ferguson’s letter reads.

    Ferguson, a Big Tech critic who Trump appointed to lead the competition regulator, noted the FTC doesn’t have any powers to require Apple to take ideological or political positions when curating news, but he said that if the company’s practices are “inconsistent” its terms of service or “reasonable expectations of consumers,” they may be in violation of the FTC Act.

    Brendan Carr, the chairman of the Federal Communications Commission (another Trump appointee critical of Big Tech), supported Ferguson’s stance, writing, “Apple has no right to suppress conservative viewpoints in violation of the FTC Act.”

    Ferguson has urged Apple to conduct a “comprehensive review” of its terms of service and ensure that the content curated on Apple News is consistent with its policies, and “take corrective action swiftly” if the curation isn’t in line.

    The letter comes a day after President Donald Trump shared the report by Media Research Center on his social media platform, Truth Social. Trump has repeatedly accused Big Tech companies of censoring right-leaning content, though many major platforms have rolled back several measures to curb fake news and disinformation they had imposed in the years prior to his second stint at the White House.

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    Apple’s relationship with the Trump administration has oscillated between warm and cold over the past year. Trump has criticized Big Tech, especially Apple, for manufacturing its devices in China, but after Cook promised to spend more than $600 billion over the next four years Stateside and moved to mend fences, relations between the Administration and the company have improved. Apple also dodged planned tariffs on smartphones made overseas and imported into the U.S.

    The FTC last year also launched an investigation into “censorship by tech platforms,” seeking input from the public who felt they were silenced due to their political ideologies or affiliations. “Tech firms should not be bullying their users,” Ferguson said at the time. “This inquiry will help the FTC better understand how these firms may have violated the law by silencing and intimidating Americans for speaking their minds.”

    Apple did not immediately return a request for comment.

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    Ram Iyer

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  • The kids ‘picked last in gym class’ gear up for Super Bowl | TechCrunch

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    The Super Bowl is happening in Silicon Valley this Sunday, and the Patriots-Seahawks game at Levi’s Stadium is going to be packed with tech money. YouTube CEO Neal Mohan is expected to be there. Apple’s Tim Cook, too. (He has become a Super Bowl fixture since Apple Music began sponsoring the halftime show several years ago.)

    Longtime VC Venky Ganesan from Menlo Ventures gave the New York Times a quote about the whole thing, saying the Super Bowl in the Bay Area is “tech billionaires who got picked last in gym class paying $50,000 to pretend they’re friends with the guys who got picked first.” Added Ganesan, “And for the record, I, too, was picked last in gym class.”

    Ganesan could likely afford a $50,000 ticket if he needed one. Menlo went all-in on Anthropic, setting up a $100 million fund with the AI company in summer 2024 to invest in other AI startups. The firm has also joined numerous funding rounds for Anthropic itself, both through its flagship fund and various special purpose vehicles. (Anthropic is reportedly expected to close a $20 billion round of funding next week at a post-money valuation of $350 billion.)

    Tickets are expensive across the board, averaging almost $7,000 according to the Times (with some last-minute seats still available on StubHub for closer to $3,600, according to a quick glance at the ticket reseller site). Only a quarter go to the general public; the rest are distributed to NFL teams. Of all ticket buyers, the largest group (27%) is coming from Washington State for the Seahawks, who’ve won just one Super Bowl in franchise history compared with the Patriots’ six titles, all with Tom Brady at quarterback.

    Google, OpenAI, Anthropic, Amazon, and Meta are splashing out for competing ads about whose AI is best for customers, so maybe their respective CEOs will show up, too. Other than Amazon’s Andy Jassy, who reportedly splits his time between Seattle and Santa Monica, all of them have homes within an hour or so of Sunday’s game.

    This is just the third time the Bay Area has hosted the Super Bowl. The first time was in 1985 at Stanford Stadium, the original football stadium at Stanford University, where the 49ers beat the Dolphins. The second took place 10 years ago at Levi’s Stadium, when the Broncos beat the Panthers.

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    Connie Loizos

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  • Apple revenues rocket to $144bn as iPhone 17 dominates China – Tech Digest

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    Apple has smashed Wall Street expectations with a massive 16% revenue surge, propelled by record-breaking iPhone sales.

    The tech titan reported a staggering $143.8 billion in revenue for the first quarter, far exceeding the $138.4 billion forecast by analysts. This performance marks the company’s strongest growth since 2021, driven by what CEO Tim Cook described as “unprecedented demand” across every geographic segment.

    The star of the quarter was the new iPhone 17 lineup. Revenue from the smartphone segment shot up 23% compared to the same period last year, reinvigorating demand in key markets.

    In particular, Apple saw a dramatic turnaround in China, where sales climbed by 38%. Cook noted that it was the “best iPhone quarter in history in greater China,” with the company’s active device install base reaching an all-time high in the region.

    While the iPhone flourished, other divisions saw a slight dip. Sales of Mac computers fell by just over 7%, and the wearables category – including the Apple Watch and AirPods – slipped by 3%.

    Despite these minor declines, the overall hardware success has placed Apple in “supply chase mode.” Cook informed analysts that the company is currently constrained as it struggles to keep up with the overwhelming consumer appetite for the iPhone 17 and 17 Pro.

    Investors remain keenly focused on Apple’s long-term artificial intelligence strategy. While competitors such as Microsoft have seen their stocks punished for heavy AI spending without immediate payoffs, Apple’s hardware-first approach appears to be weathering the storm.

    The company recently confirmed a partnership with Google to power a “more personalized Siri” using Gemini AI models, a move intended to close the gap with rivals while maintaining Apple’s signature user experience.

    Analysts suggest that Apple’s financial discipline is currently its greatest strength. While Microsoft spent over $37 billion on AI infrastructure last quarter, Apple’s planned $16 billion in capital expenditure remains conservative.

    This focus on “execution and pricing discipline” over “incremental AI features” has helped the company hit a historic $4 trillion market value, as the broader tech industry faces questions about an AI bubble.


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    Chris Price

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  • The iPhone just had its best quarter ever | TechCrunch

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    Apple had a great Q1, though iPhone sales were the real standout. The company reports that its signature device had its best quarter ever, thanks partially to a surge of sales in regions like China and India.

    “iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment,” said CEO Tim Cook during the company’s earnings call Thursday. Apple’s earnings report shows the company sold $85 billion worth of iPhones during its first quarter, up from $69 billion in the same period last year.

    During the call’s Q&A portion, Cook revealed that China had seen a huge surge in sales. “It was driven by iPhone, where we set an all-time revenue record,” Cook said, noting that it was the “best iPhone quarter in history in Greater China.” Cook said the sales bump had been driven by enthusiasm for the iPhone 17, which was announced in September. The new model has proven to be significantly more popular than the company’s previous iPhone.

    Apple’s earnings report shows that its overall sales in the Greater China region jumped from $18.5 billion in the year-ago quarter to $25.5 billion. Cook noted that, overall, the company had fared quite well in the region. “I would tell you that during the quarter, traffic in our stores in China grew by strong double digits year over year,” he said.

    Cook also highlighted India as another region where iPhones — as well as other products — seemed to be flying off the shelves. “We did set a quarterly revenue record during the December quarter,” Cook said, noting that records had been set for “iPhone and Mac and iPad [sales] and an all-time revenue record on services.” Cook called it “a terrific quarter” in a country that he noted is “the second largest smartphone market in the world and the fourth largest PC market.”

    The iPhone aside, Apple’s overall sales jumped across every geographical region, its earnings report shows. In the Americas, for instance, sales went from $52.6 billion a year ago to $58.5 billion, while in Europe, they increased from $33.8 billion to $38.1 billion.

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    Lucas Ropek

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  • Guys, I don’t think Tim Cook knows how to monetize AI | TechCrunch

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    Apple exceeded expectations when it reported its quarterly earnings on Thursday, revealing that it made $143.8 billion in revenue for a 16% year-over-year increase. As analysts peppered CEO Tim Cook with softball questions during Apple’s earnings call, one analyst dared to ask the question that seemingly no one in Silicon Valley is willing to ask.

    “When I think about your AI initiatives, you know, it’s clear there are added costs associated with that… Many of your competitors have already integrated AI into their devices, and it’s just not clear yet what incremental monetization they’re seeing because of AI…,” started Morgan Stanley’s Erik Woodring.

    Could there be a tinge of nervousness underneath this Finance Man’s probably-very-financey facade? In what I can only imagine must have been a Herculean display of courage, Woodring asked the question that lurks only in the darkest, dampest recesses of investors’ minds.

    “So, how do you monetize AI?” he asked.

    You’d think this would come up more. You would be wrong. Instead, Big Tech has taken a largely vibes-driven approach to AI development. Take OpenAI, for instance, which may seem like it’s on top of the world, given how ChatGPT has embedded itself into the cultural consciousness. But the company isn’t planning to make any money until 2030. Analysts from HBSC are even doubtful about that timeline, especially since it will need another $207 billion in funding, estimates say. Ask anyone in tech how OpenAI is planning to break even, and you’ll be met with the verbal equivalent of the ¯_(ツ)_/¯ emoticon.

    But good ol’ Tim “$143.8 billion in revenue” Cook was having a good afternoon, so maybe he’d finally spill the beans about how any of these companies are planning to recoup their investments.

    His answer was disappointing.

    “Well, let me just say that we’re bringing intelligence to more of what people love, and we’re integrating it across the operating system in a personal and private way, and I think that by doing so, it creates great value, and that opens up a range of opportunities across our products and services,” Cook said.

    So, there you have it, folks. Apple will monetize AI by creating “great value.” And, crucially, that will “open up a range of opportunities.” Which we will experience in “products and services.” Cool!

    Well, shout-out to that Morgan Stanley guy for trying.

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    Amanda Silberling

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  • Tim Cook Wants ‘Deescalation’ in Minneapolis

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    Last year, Apple CEO Tim Cook gifted President Donald Trump a plaque with a base made of 24-karat gold, and attended a White House dinner at which he addressed the room for two minutes, and in that time he repeated the words “thank you” to Trump nine times.

    This past Saturday night, he again met with Trump, this time at a screening of a flattering documentary about First Lady Melania Trump. No, Apple didn’t make or even license the movie. Its competitor did, but Cook attended the screening anyway.

    This might lead one to worry that Cook doesn’t recognize the gravity of what federal agents are doing in Minneapolis right now. No matter one’s politics, the horrifying deaths of Renee Good and Alex Pretti at the hands of federal troops are pretty easy to speak about in at least somewhat human terms. Even Ted Cruz managed to talk about Good at one point without sounding like a total monster. 

    Tim Cook’s oddly timed movie attendance, might, if I didn’t know better, be a hint that he’s not reading the room super well, and that me may lack the insight into political events of, say, the increasing number of his fellow Trump-friendly figures willing to speak frankly about the obvious violent overreach happening amid the ICE crackdown in Minneapolis. 

    But fortunately, Cook has issued a statement to Apple employees in which he says “This is a time for deescalation.” Don’t you feel better already?

    Oddly enough, Trump used similar language earlier today, saying “We’re gonna deescalate a little bit.”

    Cook’s statement doesn’t mention ICE, or other federal agencies, or the names of anyone who has died, or specify anything beyond the word “Minneapolis.” But that doesn’t mean it’s pure fluff meant to pat his employees on their heads and nothing more. After all, Cook says he had “a good conversation with the president this week where I shared my views.” So we can all rest easy that Trump is finally chastened.

    Here’s the full statement (originally leaked to Bloomberg’s Mark Gurman on Tuesday night):

    Team,

    I’m heartbroken by the events in Minneapolis, and my prayers and deepest sympathies are with the families, with the communities, and with everyone that’s been affected.

    This is a time for deescalation. I believe America is strongest when we live up to our highest ideals, when we treat everyone with dignity and respect no matter who they are or where they’re from, and when we embrace our shared humanity. This is something Apple has always advocated for. I had a good conversation with the president this week where I shared my views, and I appreciate his openness to engaging on issues that matter to us all.

    I know this is very emotional and challenging for so many. I am proud of how deeply our teams care about the world beyond our walls. That empathy is one of Apple’s greatest strengths and it is something I believe we all cherish.

    Thank you for all that you do.
    Tim

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    Mike Pearl

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  • Yeah, This Guy’s Looking Like the Frontrunner for New CEO of Apple

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    It looks like Tim Cook’s potential replacement is getting called up for a major league tryout. According to Bloomberg, John Ternus, Apple’s current head of hardware engineering, is having his role expanded and will now be handling design work within his unit. It’s the latest indicator that he could be next in line to take the top spot at the company when Cook decides to step down.

    Per the report, Ternus first got the call to take on hardware design around the end of last year. That puts Ternus in a position to oversee both hardware and software, seemingly providing a test case to see what direction he might take the company—and see how the public responds to it. (It doesn’t seem like he is responsible for the “liquid glass” update that has been widely derided, so if he can figure out how to fix that, he’d be off to a great start.)

    Ternus has been gaining momentum as the potential Cook successor for a while now. Earlier this month, the New York Times profiled him and documented some of his time at Apple, which he joined in 2001. It highlighted Ternus’ idea to add a small, photo-enhancing laser to high-end iPhones rather than all devices because die-hards would be willing to pay for it, while the average consumer wouldn’t care.

    The suggestion seems to be that Ternus would be a pragmatic CEO, following more closely in the footsteps of Cook than the more vision-driven approach of Steve Jobs. One former Apple employee told the Times, “If you want to make an iPhone every year, Ternus is your guy.” Of course, that won’t exactly be music to the ears of people who believe Apple’s design approach has stagnated over the years and the company has lost some of the luster that Jobs was able to bring by introducing devices like the iPhone and iPad.

    Bloomberg did note that while the role Ternus has been thrust into suggests a springboard to CEO-ship, it’s not a surefire guarantee that serving as the design overlord will get you the top spot. Jony Ive held down the seat for years before eventually departing from Apple in 2019, apparently over frustrations that the company stopped emphasizing innovation and started focusing on churning out replicable designs that drive profits. Jeff Williams most recently held the position, but he retired last year and was nearly the same age as Cook, so he wasn’t in line for a promotion.

    Whether Ternus ends up the heir to Apple’s throne, we’ll have to see. But it sure looks like he’s being given first crack at it.

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    AJ Dellinger

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  • Apple CEO Tim Cook’s 2025 Pay Held Steady At $74.3M

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    Apple CEO Tim Cook‘s total compensation held steady at $72.3 billion in 2025 compared with 2024.

    The pay figure was disclosed Thursday in the tech giant’s annual proxy statement. Technically, the final tally dipped about $300,000 year-to-year, but in percentage terms the decline was a small fraction of a percentage point.

    The breakdown of the CEO’s pay package was very similar to 2024’s, with a base salary of $3 million and $57.5 million in the form of a stock award. The balance came from bonuses.

    Other senior execs made around $27 million in total pay, though recently arrived CFO Kevan Parekh took home $22.5 million.

    Apple’s stock did not surge as much as Nvidia’s or those of some other tech giants. Its single-digit gain for the year was secured when investors cheered by Cook’s prediction last fal of a record calendar fourth quarter. The quarter’s financial results, which include holiday shopping and the introduction of new devices, will be reported at the end of January.

    Cook also helped the company contend with a chaotic operating environment around tariffs, especially as President Trump dialed up tensions with China, a crucial market for Apple’s flagship device, the iPhone. The CEO oversaw a rapid adjustment that saw the company shift significant amounts of manufacturing to India, a move that lowered tariff exposure.

    At 65, Cook has a somewhat cloudy outlook in terms of his long-term future in the corner office. In recent months, press reports have speculated about potential internal candidates to succeed him. On Thursday, the New York Times reported that John Ternus, Apple’s head of hardware engineering, could be the front-runner for the top post.

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    Dade Hayes

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  • Apple’s Leadership Exodus Isn’t a Crisis. It’s Just Smart Transition Planning

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    At a normal company, people come and go. Top executives leave and move on to other roles and companies. Lower-level employees find a better job and post a “life update” on Threads. It’s a pretty, well, normal thing that happens all the time.

    Apple, on the other hand, seems to enjoy a remarkable level of stability in this regard. Obviously, Apple employs a lot of people, and I’m sure a lot of them are looking for a new job at any given time. Many of the people on the iPhone maker’s leadership page, however, have been there for a decade or more. Turnover at the top—with a few exceptions—is rare.

    Partly that’s because the company’s history is one long case study in slow, deliberate succession. When Steve Jobs handed the CEO role to Cook in 2011, it wasn’t a surprise to anyone inside the company. The groundwork had been laid for years, and Cook had already stepped in as interim CEO once before.

    Now, however, we’ve seen a handful of departures over the past few weeks, and some see it as a sign that there’s something wrong. First, there were reports that Tim Cook plans to step down in early 2026. Then, Jeff Williams, who had been Chief Operating Officer since 2015, retired. Alan Dye, the head of human interface design, left for Meta. John Giannandrea is leaving, as are Lisa Jackson and Kate Adams. And, former CFO, Luca Maestri, retired at the beginning of 2025.

    Then there were the rumors that Apple’s chip chief, Johnny Srouji, was looking to exit, though it seems that reporting may have been premature. Srouji told his staff he wasn’t “planning to leave any time soon,” but someone gave the idea to Bloomberg, who reported that he had been in conversations about going elsewhere.

    Even if Srouji isn’t going anywhere, the collective exodus is hard to ignore. After all, if that many people are leaving, something must be up, right?

    Maybe. On the other hand, the fact that a number of people are leaving doesn’t mean there’s something wrong. I’d argue it’s actually pretty normal. In fact, I think it makes perfect sense, especially if it’s true that Cook is planning to retire in the next 12 to 18 months. In that case, this looks like the change is probably the result of a CEO saying to everyone working for him that this is the time to get out if you’re going to go.

    The extended deadline for the 2026 Inc. Regionals Awards is Friday, December 19, at 11:59 p.m. PT. Apply now.

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    Jason Aten

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  • Those Viral Photos of Elon and Zuck Are AI. But Google Launched a New Way to Check for Fakes

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    Photos appearing to show Elon Musk and several other Big Tech CEOs have gone viral in the past week on X and Bluesky. The mundane environments, including humble apartments and McDonald’s parking lots, should have given everyone a hint that they’re fake. But there’s a new way for the average person to check for themselves whether the images were made with AI. And it’s actually really useful.

    Right off the bat, it should be said that the vast majority of AI image detectors are not reliable. Many people think you can use tools that are openly available on the web and figure out if a given image is AI. But they’re not good. For example, people often ask Grok on X whether a photo was created with generative artificial intelligence. And it frequently gets the answer wrong. Sometimes in amusing ways.

    Google developed an AI watermark called SynthID a couple of years ago, but the company didn’t allow the average user to check whether an image had the watermark. That changed just a few days ago. Now anyone can upload an image to Gemini and ask if it has the SynthID watermark, which is invisible to the naked eye.

    The watermark is embedded in the pixels and every image created with Google’s AI creation tools will have it. Checking for the watermark is now easy for anyone who opens up Gemini.

    From Google’s announcement:

    If you see an image and want to confirm it has been made by Google AI, upload it to the Gemini app and ask a question such as: “Was this created with Google AI?” or “Is this AI-generated?”

    Gemini will check for the SynthID watermark and use its own reasoning to return a response that gives you more context about the content you encounter online.

    Obviously Gemini is less equipped to tell you if an image is AI if it wasn’t made with Google tools like Nano Banana Pro. And that’s the entire reason the company appears to be launching SynthID detection in Gemini in this moment. Nano Banana Pro launched last week and it’s allowing users to make incredibly realistic images, including images of Elon Musk and other tech CEOs that look very real.

    Some of those images have recently gone viral, like one that racked up nearly 9 million views on X before migrating to other platforms like Bluesky. The image shows Musk, Nvidia CEO Jensen Huang, Google CEO Sundar Pichai, Apple CEO Tim Cook, Amazon founder Jeff Bezos, Microsoft CEO Satya Nadella, and Meta CEO Mark Zuckerberg all standing together in a small apartment.

     

    Other versions of the image include OpenAI CEO Sam Altman, with the men standing around in a parking lot, pictured at the top of this article. For some reason, Musk is seen smoking a cigar in a couple of them. Another image showed the men in the parking lot from a different angle. And still another had the men eating McDonald’s on the ground with a Cybertruck in the background.

    If you run any of these images through Gemini it confirms they all have the SynthID watermark. If you’re wondering whether an image appears too weird to be true, it’s probably a good idea to check with Gemini.

    Did you see that viral image of President Donald Trump with Bill “Bubba” Clinton in a very compromising position? Running that image through Gemini confirms it was made with Google’s AI image generator. Gemini won’t necessarily be able to ID every AI image with certainty. But if you run an image through Gemini and it tells you the “photo” has the SynthID watermark, you know it’s not real.

    Fake images are still going to be everywhere in the current social media environment. But at least Google has given the average user a new tool to identify at least some of the fakes for themselves. It’s only going to get harder and harder to recognize AI-generated content as the years progress. Sometimes you just need to apply some common sense. For example, do you think Elon Musk and Sam Altman would be hanging out in a parking lot together? Given their very public conflicts, that seems very unlikely.

    Then again, it seemed very unlikely that Musk and President Trump would become friendly again after the Tesla CEO accused Trump of being in the Epstein files. Weirder things have happened when billions of dollars are at stake.

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    Matt Novak

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  • Tim Cook’s Retirement Looms as His $4T Reinvention of Apple Defines His Legacy

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    Tim Cook’s looming retirement caps a 14-year run defined by record growth and disciplined execution. Justin Sullivan/Getty Images

    Apple CEO Tim Cook is poised to retire as early as next year after 14 years at the helm, according to a Financial Times report last week citing multiple anonymous company insiders. Rumblings about Cook’s exit come amid accelerated succession planning by the board and senior executives, the report says.

    Some observers suggest Cook, 65, may not step away entirely, but could transition into a role as chairman of the board. Others, including Bloomberg editor Mark Gurman, believe the leak from unnamed insiders may be an intentional effort to prepare the market for a major leadership shift. Most experts don’t expect any changes before Apple’s next earnings release in January, but say a handoff could occur ahead of its mid-2026 developer conference and product launches.

    What’s clear is that Cook, who succeeded Apple co-founder Steve Jobs in 2011, is nearing the end of his run as Apple’s longest-serving CEO, putting renewed attention on both his legacy and the question of who comes next.

    Tim Cook’s unparalleled legacy

    Apple’s growth under Cook has been staggering. The company’s market capitalization stood at $350 billion when he took over 14 years ago. Today, it’s approaching $4 trillion—more than an elevenfold increase. For comparison, the S&P 500 rose just over 460 percent in the same period.

    Just a year into the job, Cook restructured Apple’s leadership team, dismissing senior vice president of retail John Browett and accepting the resignation of Scott Forstall, then senior vice president of iOS. He redistributed many of their responsibilities to existing leaders in an effort to ease internal tensions.

    Cook has overseen the release of 48 iPhone variants—from the iconic iPhone 4 in 2011 to the bold iPhone 17 Pro this September—while steering the launch of major new product lines including the MacBook Pro, Apple Watch, AirPods and Apple Vision Pro. Under his leadership, Apple also introduced the M-series silicon chips, a multiyear transition that reshaped the performance and energy efficiency of the Mac lineup and reasserted Apple’s dominance in hardware design.

    Beyond devices, Cook supercharged Apple’s services business, expanding the App Store ecosystem and launching new offerings such as Apple Music, Apple TV+, Apple Arcade, Apple Fitness+ and Apple Pay. These services have grown into a multibillion-dollar pillar of Apple’s business, helping the company diversify its revenue streams and build one of the most powerful subscription ecosystems in the world.

    Cook has turned Apple into “the most valuable business in the world while keeping its products central to everyday life,” Natalie Andreas, communication management professor at the University of Texas, told Observer.

    Still, Apple faces criticism for lagging behind rivals in the artificial intelligence arms race, even as its Apple Intelligence features roll out slowly. Many of the capabilities remain in beta. Meanwhile, Bloomberg reports that Apple has shelved plans for a more affordable, lighter Vision Pro headset (codenamed N100) and is instead diverting resources toward building A.I.-powered smart glasses that directly target Meta’s Ray-Ban-style devices.

    “Whoever takes the reins will face big challenges in artificial intelligence, immersive technologies like the Vision Pro, and increasing global regulation,” Andreas said.

    Tim Cook’s successor

    John Ternus, Apple’s senior vice president of hardware engineering and a direct report to Cook, is widely viewed as the leading candidate for the top job.

    Ternus has been at Apple for more than two decades. He joined the product design team in 2001 after working as a mechanical engineer at Virtual Research Systems. In 2013, Ternus was promoted to vice president of hardware engineering under Dan Riccio, overseeing development across the iPad, Mac, and AirPods product lines. By 2020, he had taken on responsibility for the iPhone hardware, and in January 2021, he succeeded Riccio as senior vice president of hardware engineering. In late 2022, his purview expanded further when he was put in charge of Apple Watch hardware.

    Under his leadership, Ternus has played a pivotal role in some of Apple’s most ambitious hardware efforts, including the transition of Mac computers to Apple Silicon. He has also regularly appeared at major Apple events, presenting new iMacs, MacBook Pros, redesigned iPads and other flagship devices.

    Ternus is “one of the few leaders inside the company who blends engineering depth with the same person-first philosophy Apple was built on,” Steven Athwal, founder and CEO of The Big Phone Store, a refurbished tech gadget company, told Observer.

    “He’s charismatic and well-regarded by Apple loyalists and trusted by Cook,” Bloomberg’s Mark Gurman has written.“Apple probably needs more of a technologist than a sales or operations person.”

    Ternus has also begun taking a more public, outward-facing role. He has appeared at high-profile product launches and greeted customers, including during the iPhone 17 launch in London. At 50 years old, he is about the same age Tim Cook was when he became CEO — a symbolic point often raised in succession discussions.

    Tim Cook’s Retirement Looms as His $4T Reinvention of Apple Defines His Legacy

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  • Apple’s CEO Tim Cook May Retire Soon. How’s Your Succession Planning Going?

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    When legendary Apple co-founder and CEO Steve Jobs died in 2011, long-time Apple supply chain executive Tim Cook had already been appointed to take his place. That was 14 years ago. Cook, now 65 and Apple’s longest-serving CEO, steered the company through successful product releases and the benchmark feat of becoming the first $1 trillion valued company in 2018, but strong rumors suggest that he’ll be retiring next year. The company is certainly deep in succession planning, and this may prompt you to ponder long-term leadership plans for your own company. It’s an especially timely issue in a moment where the pressures of being a CEO keep increasing in a complex business environment.

    The Financial Times reported this weekend that preparations for Cook to step down were accelerating, per company insiders who said both board and senior executives are involved with the effort. Apple is now a roughly $4 trillion company with a global presence, so this is no ordinary job. The FT says that John Ternus, currently acting as senior vice-president of hardware engineering is “widely” seen as the most likely executive to replace Cook. Though no final decisions have apparently been made, Ternus has deep knowledge of the tech giant’s operations and has appeared many times on stage during high-profile Apple hardware releases. 

    Cook’s stepping aside is not related to Apple’s performance, the FT notes, with the company widely expected to see hugely successful sales of its just-released iPhone 17 range. Cook is known to have strong preferences for an internal candidate, remarking as much when speaking with musical artist Dua Lipa on her November 2023 podcast. 

    Covering the news, Axios argues that Cook’s departure may be symbolic of the end of the “star” CEO. Although Cook isn’t as high-profile as his predecessor, his tenure as chief executive saw Apple become a global tech leader. Other boldface-name CEOs are also set to depart soon, with Disney’s CEO Bob Iger and Walmart’s CEO Doug McMillon all “preparing to leave the stage,” as Axios notes. The news outlet points out there are now an “unusual number of globally iconic brands” seeking new leadership. It’s possible that the complex legal, societal, political and technological winds swirling around the U.S., particularly with fast-evolving AI technology in mind, are playing a part in this CEO switcheroo.

    A new report at Fortune may underline this theory. In surveying the world’s top 200 corporate chiefs from the Fortune 500 for a book, senior partners at global management consulting outfit McKinsey uncovered the thinking and methodology of these company leaders, finding that 68 percent said they felt “ill prepared” to become CEO even as they stepped into the role and that 30 percent of CEOs don’t stay past the first three years. The role of CEO may also be becoming more important, and also perhaps more tenuous—more at the whim of influences like activist investors—than before. 

    Fortune notes that this means chief execs are typically juggling “roughly twice as many issues” as they would have had to just five to seven years ago. That time period is well within Cook’s tenure as Apple CEO, for example, and in that time Apple has faced numerous high-profile challenges including the covid pandemic, billion dollar-scale lawsuits and a high-profile miss in the multitrillion race for AI market share.

    What’s the big takeaway for your company?

    While you may be comfortable with your leadership team right now, maintaining a rigorous medium-term succession plan may be a good idea. Unexpected illnesses, aging executive team members and other occurrences both planned and unplanned may mean you need to look for new C-suite members without much of a warning. Deciding whether you want to promote someone from inside the company, someone steeped in its culture and way of working, or whether you want to hire a “new broom” external candidate is probably a good start. Having long-term discussions with possible candidates earlier rather than later also shows that you have the stability of the company in mind in ways that will reassure your workforce and investors.

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  • Apple’s Succession Wars Start. Here’s Who Might Take Tim Cook’s Spot

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    Tim Cook might be getting ready to hang up his hat as Apple CEO.

    That’s according to the Financial Times, which reported on Saturday that the tech giant was stepping up succession planning with expectations that Tim Cook could resign from his position as soon as next year.

    Cook, who will be turning 66 next year, took over Apple from founder Steve Jobs, and led the company through trillions of dollars worth of record market valuation spikes and a fair share of controversies for over 14 years.

    Many are looking ahead to who could be the third-ever chief to lead the company after Cook leaves. For years, many names have been floated around, from Apple’s senior vice president of software engineering Craig Federighi (famous for his presentations and his full head of hair) to Greg Joswiak, senior vice president of worldwide marketing, and Jeff Williams, Apple’s chief operating officer who was the top of that list before he resigned from his post earlier this year.

    Now the Financial Times reports that the front runner is John Ternus, Apple’s senior vice president of hardware engineering.

    Ternus, aged 50, is currently the youngest top executive at Apple, and has been with the tech giant for roughly 24 years.

    His name was first brought into the spotlight in succession conversations after a Bloomberg report from 2024 claimed that Cook thought Ternus could “give a good presentation.” That report noted that Ternus is “very mild-mannered, never puts anything into an email that is controversial, and is a very reticent decision-maker,” according to Bloomberg’s anonymous source close to the executive team.

    He has also increasingly played a more central role at Apple events, from unveiling Apple’s first in-house silicon chip, the M1, in 2020, to announcing the highly anticipated iPhone Air earlier this year.

    When compared to Cook’s operations-heavy background, Ternus is more engineering focused. Equipped with both a bachelor’s in engineering and an MBA, Tim Cook rose through the ranks at Apple as chief operating officer, focusing on sales and supply chain management.

    Ternus, on the other hand, graduated from the University of Pennsylvania in 1997 with a major in mechanical engineering. He worked on virtual reality headsets as an engineer at Virtual Research Systems before joining Apple’s product design team in 2001.

    He worked his way up the company’s hardware team to a leadership position in 2013 and got promoted to lead all of hardware engineering in 2022. AirPods, Macs, iPads, iPhones, you name it, Ternus has had a hand in its production.

    Ternus has the potential to be a breath of fresh air to some Apple fanatics who have blamed Cook for a perceived slowdown of innovation. Under Cook’s leadership, Apple has released tons of new products, but the upgrades to said products have been deemed incremental rather than revolutionary, and even boring at times.

    The company has also been criticized for the failed launch of Apple Vision Pro and its self-professed failure to catch up to competitors in the AI race, further ignited in light of the delayed launch of AI-enhanced Siri. Bringing in an engineer-first executive who has taken part in almost all of Apple’s most significant product launches in the past 24 years could, perhaps, help address some of these failings.

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  • Apple is ramping up succession plans for CEO Tim Cook and may tap this hardware exec to take over, report says | Fortune

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    Apple’s board of directors and senior executives have been accelerating succession plans for Tim Cook, sources told the Financial Times.

    After serving as CEO for 14 years, Cook may step down as early as next year, the report said.

    Apple’s senior vice president of hardware engineering, 50-year-old John Ternus, is widely seen as the most likely successor, but no final decisions have been made yet, sources told the FT.

    The engineer joined Apple’s product design team in 2001 and has overseen hardware engineering for most major products the tech company has launched ever since, according to Ternus’ LinkedIn profile.

    He has also played a prominent role during Apple’s most recent keynotes, introducing products like the new iPhone Air. Ternus had been rumored to be Cook’s potential successor, according to previous reports. 

    The company is unlikely to name a new CEO before its next earnings report in late January, and an early-year announcement would allow a new leadership team time to settle in before its annual events, the FT said. 

    The succession preparations have been long-planned and are not related to the company’s current performance, which is expecting strong end-of-year sales, people close to Apple told the FT.

    Apple did not immediately respond to Fortune’s request for comment and declined to provide a comment to the FT.

    The $4 trillion company is expecting year-on-year revenue growth of 10% to 12% for its holiday quarter ending in December, fueled by the release of the iPhone 17 model in September.

    Ternus would take the helm of the tech giant at an important time in its evolution. Although Apple has seen sales success with iPhones and new products like Airpods over the past couple of decades, it has struggled to break into AI and keep up with rivals.

    Instead, Apple has even spending significantly less in AI investments compared to Mark Zuckerberg’s Meta, Amazon, Alphabet, and Microsoft. 

    Apple has been criticized by analysts this year for not having a clear AI strategy. And despite approving a multibillion-dollar budget to run its own models via the cloud in 2026, it was reported in June that Apple is even considering using models from OpenAI and Anthropic to power its updated version of Siri, rather than using technology the company has built in-house. 

    Its AI-enabled Siri, originally slated for 2025, will be delayed until 2026 or later due to a series of technical challenges, the company announced earlier this year.

    Apple has also lost a number of senior AI team members since January, many of whom have joined Meta’s AI and Superintelligence Labs during talent poaching wars this year. The exodus of Apple’s AI execs included Ruoming Pang, former head of Apple’s foundation models and core generative AI team, who joined Meta with a compensation package reportedly worth $200 million.

    The company is also dealing with increased competition from one of its most influential former employees.

    In May, Sam Altman’s OpenAI acquired startup io for about $6.5 billion, bringing in former Apple chief designer Jony Ive to build AI devices. The 58-year-old designer was instrumental in creating the iPhone, iPod, and iPad. 

    Cook, Apple’s former operations chief, turned 65 this month. He has grown the company’s market capitalization to $4 trillion from $350 billion in 2011, when he took over the CEO role from company co-founder Steve Jobs.

    Under Cook, Apple became the first publicly traded company to reach $1 trillion in market capitalization in 2018—then it became the first company to reach $3 trillion in market cap in 2022.

    But more recently, its stock price has been lagging behind Big Tech rivals Alphabet, Nvidia, and Microsoft, though Apple is trading close to an all-time high after strong earnings were reported in October.

    Apple has also dealt with tariff complications as U.S.-China trade tensions have disrupted its supply chain.

    Cook has previously said he’d prefer an internal candidate to replace him, adding that the company has “very detailed succession plans.”

    “I really want the person to come from within Apple,” Cook told singer Dua Lipa last year on her podcast At Your Service.

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  • Apple is reportedly getting ready to replace Tim Cook as early as next year

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    According to the Financial Times, Tim Cook may be ready to leave his position as soon as next year, and Apple’s board and senior executives have ramped up their preparations to secure his replacement.

    Cook, who has been at the helm of Apple for more than 14 years, succeeded Steve Jobs and led the company to a market cap of more than $4 trillion. Cook’s tenure since 2011 has overseen the introduction of hardware, including Apple Watch, AirPods and Vision Pro, but also services like Apple Arcade and Apple TV+. According to the Financial Times‘s sources, Apple’s senior vice president of engineering, John Ternus, will most likely take on the CEO role, but this decision hasn’t been finalized yet. Ternus has been with Apple since 2001 as part of its Product Design team and eventually stepped into a vice president role within the Hardware Engineering division, where he played a heavy role in the company’s transition to Apple silicon.

    According to the Financial Times, Apple isn’t planning to announce the new CEO before its January earnings report. However, the report also noted that this announcement would come earlier in the year to allow the leadership team to transition smoothly in time for all of Apple’s annual events. Earlier this year, Apple also announced Sabih Khan as the new chief operating officer, taking over for Jeff Williams.

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  • These are the 37 donors helping pay for Trump’s $300 million White House ballroom

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    WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

    The White House released a list of 37 donors, including crypto billionaires, charitable organizations, sports team owners, powerful financiers, tech and tobacco giants, media companies, longtime supporters of Republican causes and several of the president’s neighbors in Palm Beach, Florida.

    It’s incomplete. Among others, the list doesn’t include Carrier Group, which offered to donate an HVAC system for the ballroom, and artificial intelligence chipmaker Nvidia, whose CEO, Jensen Huang, publicly discussed its donation.

    The White House hasn’t said how much each donor is giving, and almost none was willing to divulge that. Very few commented on their contributions when contacted by The Associated Press.

    A senior White House official said the list has grown since it was first released in October, but some companies don’t want to be publicly named until required to do so by financial disclosure regulations. No foreign individuals or entities were among the donors, according to the official who spoke on condition of anonymity to discuss details that haven’t been made public.

    Here’s a look at the divulged donors:

    Tech giants (8):

    Amazon Background: Trump was once highly critical of company founder Jeff Bezos, who also owns The Washington Post, but has been much less so lately. Amazon donated $1 million to Trump’s inauguration, an event attended by Bezos. Its video streaming service paid $40 million to license a documentary about first lady Melania Trump. Its cloud-based computing operation, Amazon Web Services, is a major government contractor.

    Apple Background: After an up-and-down relationship during Trump’s first term, CEO Tim Cook has sought to improve his standing with the president this time. Before returning to the White House, Trump hosted Cook at his Palm Beach estate, Mar-a-Lago, and said he had spoken with Cook about the company’s long-running tax battles with the European Union. Cook also donated $1 million to Trump’s inauguration fund. In the spring, Trump threatened the computing giant with tariffs after Apple announced plans to build manufacturing facilities in India. In August, Cook presented the president with a customized glass plaque with a gold base as the CEO announced plans to bring Apple’s total investment commitment in U.S. manufacturing over four years to $600 billion.

    Google Background: During his first term, Trump’s administration sued Google for antitrust violations. While a candidate last year, Trump suggested he might seek to break up the search engine behemoth. Once Trump won the election, Google donated $1 million to his inauguration, and its CEO, Sundar Pichai, joined other major tech executives in attending the ceremony. Google’s subsidiary, YouTube, agreed in September to pay $24.5 million to settle a lawsuit with Trump after it suspended his account following the Jan. 6 riot at the U.S. Capitol. According to court filings, $22 million of that went to the Trust for the National Mall, which can help pay for ballroom construction.

    HP Background: An original Silicon Valley stalwart, the company donated to Trump’s inaugural fund. HP ‘s CEO, Enrique Lores, participated in a White House roundtable event in September. Lores also previously met with President Joe Biden at the White House on multiple occasions as top CEOs endorsed that administration’s economic plans.

    Meta Background: Founder and CEO Mark Zuckerberg had been critical of Trump going back to 2016, and Facebook suspended Trump for years after the Jan. 6 insurrection. This time around, Meta contributed $1 million to Trump’s inauguration, and Zuckerberg attended.

    Micron Technology Background: The producer of advanced memory computer chips announced an April 2024 agreement with the Biden administration to provide $6.1 billion in government support for Micron to make chips domestically. Then, in June, Micron pledged $200 billion for U.S. memory chip manufacturing expansion under Trump. But at least $120 billion of that involved holdovers first announced during Biden’s administration.

    Microsoft Background: The company donated $1 million to Trump’s inauguration, twice what it spent for Biden’s or for Trump’s first inauguration. CEO Satya Nadella has also met with Trump numerous times, as Microsoft has supported the administration’s relaxation of regulations on artificial intelligence. He met previously with Biden, too. Trump has called for Microsoft’s president of global affairs, Lisa Monaco, to be fired because she was a deputy attorney general under Biden when the Justice Department led several investigations against Trump.

    Palantir Technologies Background: Co-founded by billionaire libertarian Peter Thiel, the firm concentrates on artificial intelligence and machine learning. It has seen profits soar thanks to lucrative defense and other federal contracts.

    Crypto (5):

    Coinbase Background: The major cryptocurrency exchange was founded by Brian Armstrong, a top donor to a political action committee that helped Trump and other pro-crypto candidates in 2024. Armstrong attended the first crypto summit at the White House in March. Coinbase also hired Trump’s co-campaign manager, Chris LaCivita, to its Global Advisory Council.

    Ripple Background: In March, the Securities and Exchange Commission dropped a lawsuit filed during Trump’s first term, which accused the company of violating securities laws by selling XRP crypto coins without a securities registration. In his second term, Trump has eased regulations on digital assets, repealing an SEC accounting rule and a previous presidential executive order mandating more federal study and proposed changes to crypto regulations.

    Tether Background: A cryptocurrency company and major stablecoin issuer, Tether paid fines for misleading investors. CEO Paolo Ardoino has been to Trump’s White House, and, in April, the company hired former Trump administration crypto policy official Bo Hines to lead its domestic expansion efforts.

    Cameron Winklevoss and Tyler Winklevoss Background: Each Winklevoss twin is listed as a separate donor. Best known as Zuckerberg’s chief antagonists in “The Social Network,” the brothers founded the Gemini cryptocurrency exchange. Biden’s SEC sued Gemini for selling unregistered securities, but the case has been paused under Trump.

    Energy and industrial (4):

    Caterpillar Background: The equipment maker ‘s PAC has donated to candidates from both parties, but given more to Republicans. It has also said publicly that Trump’s tariffs, some of which the administration has now eased, could increase its costs and hurt earnings.

    NextEra Energy Background: NextEra is the world’s largest electric utility holding company. Trump says he’ll work to ensure tech giants can secure their own sources of electricity to power data centers, especially as they expand energy-hogging artificial intelligence operations. Google recently entered into an agreement to buy power from a shuttered nuclear power plant in Iowa owned by NextEra, which the company plans to bring back online in 2029.

    Paolo Tiramani Background: An American industrial designer who has donated to Trump’s political campaigns. Tiramani, with his son, runs BOXABL, a firm specializing in modular, prefabricated homes.

    Union Pacific Background: Trump has endorsed the company’s proposed $85 billion acquisition of Norfolk Southern, which would be the largest-ever rail merger. It also will be up to the president to appoint two more Republican members of the Surface Transportation Board, who will ultimately decide whether to approve the merger. In August, Trump fired one of the two Democratic members of the board.

    Philanthropy (3):

    Adelson Family Foundation Background: Founded to strengthen the state of Israel and the Jewish people, the foundation was created by Miriam Adelson, the majority owner of the NBA’s Dallas Mavericks, close Trump ally and longtime GOP megadonor. She’s also the widow of Sheldon Adelson, the billionaire founder and owner of Las Vegas Sands.

    Betty Wold Johnson Foundation Background: Based in Palm Beach, the foundation supports health, arts and culture initiatives, as well as environmental and educational programs. It’s named in honor of the mother of New York Jets owner Woody Johnson, who served as Trump’s ambassador to the United Kingdom during his first term.

    Laura & Isaac Perlmutter Foundation Background: The nonprofit based in Lake Worth Beach, near Palm Beach, focuses on promoting health care, social justice, the arts and community initiatives. Isaac is an Israeli American businessman and financier and former chair of Marvel Entertainment. He and his wife have donated to Trump’s presidential campaigns and affiliated PACs.

    Trump administration officials (3):

    Benjamin Leon Jr. Background: The Cuban American founder of Miami-based Leon Medical Centers is Trump’s nominee for U.S. ambassador to Spain.

    Kelly Loeffler and Jeffrey Sprecher Background: A former Republican senator from Georgia, Loeffler heads Trump’s Small Business Administration. Her husband is CEO of the energy market Intercontinental Exchange Inc. and chairs the New York Stock Exchange. The couple faced scrutiny in 2020 for dumping substantial portions of their portfolio and purchasing new stocks, including in firms making protective equipment, after Congress received briefings on the severity of the coming coronavirus pandemic.

    Lutnick Family Background: Howard Lutnick is Trump’s commerce secretary. A crypto enthusiast, he once headed the brokerage and investment bank Cantor Fitzgerald.

    Communications/entertainment (3):

    Comcast Background: The mass media and telecom conglomerate has often been criticized by Trump, including in April, when the president posted that Comcast was a “disgrace to the integrity of broadcasting.” The company owns NBC and is spinning off MSNBC. It could be interested in acquiring Warner Bros. Discover, and that would leave Comcast looking for government approval.

    Hard Rock International Background: A Florida-based gaming and tourism concern owned by the Seminole Tribe, the company operates a number of casinos, including the former Trump Taj Mahal casino in Atlantic City, New Jersey. Trump has for decades criticized federal exemptions allowing tribes to operate casinos.

    T-Mobile Background: The wireless carrier is indirectly linked to Trump Mobile, which the president’s family controls and offers gold phones and cell service in a licensing deal. Trump Mobile uses Liberty Mobile Wireless, a small, Florida-based network that T-Mobile says runs its operations on T-Mobile’s network. T-Mobile says that is unrelated to its decision to donate to Trump’s ballroom, which it says is meant to “restore and enrich the historic landmarks that define our nation’s capital.”

    Big Tobacco (2):

    Altria Group Background: The tobacco giant controls Philip Morris USA, maker of Marlboro. It has pressed for federal crackdowns on counterfeit and illegal vaping products. The company donated $50,000 to Trump’s inauguration.

    Reynolds American Background: With brands including Lucky Strike and Camel, the company has been active in lobbying to steer the Trump administration away from a Biden-proposed ban on menthol cigarettes.

    Defense/national security (2):

    Booz Allen Hamilton Background: A major defense and national security technology firm with extensive government contracts, it paid fines to settle lawsuits with the Justice Department under Biden. Booz Allen Hamilton agreed to pay more than $377 million in 2023 to settle allegations that it improperly billing costs to its government contracts. In January, it paid nearly $16 million to settle allegations that it submitted fraudulent claims in connection with government contracts.

    Lockheed Martin Corporation Background: The massive defense contractor has huge government contracts. It said in a statement that it “is grateful for the opportunity to help bring the President’s vision to reality and make this addition to the People’s House.”

    Individuals (7):

    Stefan E. Brodie Background: A biotech entrepreneur and co-founder of the chemical manufacturing company Purolite, Brodie and his family donated to Trump’s 2024 presidential campaign and affiliated committees. Brodie and his brother, Donald, were convicted in 2002 of circumventing U.S. sanctions on Cuba.

    Charles and Marissa Cascarilla Background: Charles Cascarilla is co‑founder of the blockchain firm Paxos. He and his wife are philanthropists who have advocated for financial technology sector deregulation.

    J. Pepe and Emilia Fanjul Background: Longtime Republican donors and Palm Beach residents, the couple controls U.S. sugar refining interests that includes the Domino brand.

    Edward and Shari Glazer Background: Members of the family that owns the NFL’s Tampa Bay Buccaneers and has a controlling stake in the Manchester United football club, the couple donated to Trump’s campaign. Edward is the founder and CEO of US Property Trust, which operates shopping centers, and the car dealership company US Auto Trust.

    Harold Hamm Background: The billionaire oil tycoon and pioneer of hydraulic fracturing heads the oil producer Continental Resources. He’s praised the Trump administration for aggressively moving to purchase oil to replenish the Strategic Petroleum Reserve stockpile.

    Stephen A. Schwarzman Background: A Palm Beach resident and chair and CEO of the Blackstone Group, a global private equity firm he helped establish in 1985. Schwarzman has donated to Trump and his PACs previously and led his first-term President’s Strategic and Policy Forum.

    Konstantin Sokolov Background: Born in Russia, he immigrated to the U.S. and now heads the Chicago-based private equity firm IJS Investments. Sokolov has donated to many educational and charitable causes in the past, and to Trump’s political campaigns.

    ___

    Associated Press writer Darlene Superville contributed to this report.

    ___

    This story has been updated to correct the first name of an individual who donated to the White House ballroom. He is Harold Hamm, not Howard Hamm.

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  • Apple delivers strong quarter despite trade war challenges and ongoing artificial technology issues

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    SAN FRANCISCO (AP) — Apple delivered financial results during its summertime quarter that exceeded analyst projections, despite being caught in the crosshairs of a global trade war at the same time the trendsetting company is scrambling to catch up to its Big Tech peers in the artificial intelligence race.

    The performance announced Thursday was driven largely by strong initial demand for its iPhone 17 lineup that went on sale last month.

    Although the iPhone 17 lacks the AI wizardry featured in rival devices recently introduced by Samsung and Google, Apple spruced up its latest models with a redesign highlighted by a sleek “liquid glass” appearance on the display screens.

    Apple also largely maintained its pricing on its latest iPhones, despite being squeezed by the tariffs that President Donald Trump has imposed on the U.S. devices that the company mostly makes in India and China. The tariffs cost Apple $1.1 billion during the past quarter and are expected to cost another $1.4 billion during the final three months of the year.

    The formula apparently was enough to win over consumers, particularly in the United States and Europe, helping to produce iPhone sales totaling $49 billion during the July-September period, a 6% increase from the same time last year. That was slightly below the 8% jump in iPhone sales that had been anticipated by analysts, and less than the 13% bump in sales during the April-June period.

    IDC estimates that 58.6 million iPhones were sold worldwide in the July-September quarter, putting Apple second behind Samsung at 61.4 million of their Android-powered phones sold worldwide in the quarter.

    Buoyed by the iPhone results, Apple earned $27.5 billion, or $1.85 per share, nearly doubling its profit from a year ago. Revenue climbed 8% from a year ago to $102.5 billion. Both the earnings and revenue eclipsed the analyst forecasts that steer the stock market.

    Apple shares surged 3% in extended trading after the numbers came out.

    In a conference call with analysts, Apple CEO Tim Cook indicated his belief that the iPhone 17 lineup will continue to do well, predicting even more of the devices will be sold during the final three months of the year. “As we head into the holiday season with our most powerful lineup ever, I couldn’t be more excited for what’s to come,” Cook said. He cited the iPhone 17’s popularity in most parts of the world except China, where sales of the device dipped by 4% from a year ago.

    The Cupertino, California, company expects its iPhone sales to increase at least 10% from last year’s holiday season, according to projections provided by Apple’s chief financial officer, Kevan Parekh. Total revenue is expected to rise at a similar rate.

    Apple’s stock has been on a tear since a report earlier this month from the research firm International Data Corp. telegraphed the quarterly results with a preliminary analysis that concluded the company had set a new July-September record for iPhone sales. The rally catapulted Apple’s market value above $4 trillion for the first time earlier this week and now the stage is set for the shares to hit another new high during Friday’s regular trading session.

    But Apple has been widely seen as a laggard in the AI craze, one of the reasons that Nvidia — a chipmaker whose processors power the technology — became the first company to be valued at $5 trillion earlier this week.

    Apple had promised a wide array of AI features would be rolling out on last year’s iPhone models, but was only able to deliver a few of them. The missing upgrades included a smarter and more versatile version of its frequently flummoxed Siri virtual assistant – a makeover that Apple now doesn’t expect to complete until next year.

    But Apple has a long history of late starts when technology starts to head in another direction before it finally catches up and emerges as a front-runner.

    If Apple can pull it off again by eventually implanting more AI features on the iPhone, Wedbush Securities analyst Dan Ives believes those breakthroughs could boost the company’s market share by another $1 trillion to $1.5 trillion, translating into $75 to $100 per share.

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  • The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely | Fortune

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    Being CEO has its many perks: Business leaders get to command the world’s most powerful companies, shape their legacies as pioneers of industry, and enjoy hefty billion-dollar paychecks. But in the steep climb up the corporate ladder, many won’t notice all the peers left behind until they’re looking down from the very top. It can be a lonely, solitary job.

    Leaders at some of the world’s largest companies—from Airbnb and UPS to PepsiCo and Apple—are finally opening up about the mental toll that comes with the job. As it turns out, many industry trailblazers are grappling with intense loneliness; at least 40% of executives are thinking of leaving their job, mainly because they’re lacking energy and feel alone in handling daily challenges, according to a Harvard Medical School professor. And the number could even be higher: About 70% of C-suite leaders “are seriously considering quitting for a job that better supports their well-being,” according to a 2022 Deloitte study. 

    To ward off feelings of isolation, founders and top executives are stepping outside of the office to focus on improving their well-being. Toms founder Blake Mycoskie struggled with depression and loneliness after scaling his once-small shoe business into a billion-dollar behemoth. Feeling disconnected from his life’s purpose and that his “reason for being now felt like a job,” he went on a three-day men’s retreat to work on his mental health. And Seth Berkowitz, the founder and CEO of $350 million dessert giant Insomnia Cookies, cautions bright-eyed entrepreneurs the gig “is not really for everyone.” 

    “It can be lonely; it’s a solitary life. It really is,” Berkowitz recently told Fortune.

    Brian Chesky, cofounder and CEO of Airbnb

    Eugene Gologursky / Stringer / Getty Images

    Airbnb’s cofounder and CEO Brian Chesky is one the most outspoken leaders in the business world waving the red flag on loneliness. Chesky described having a lonely childhood, pulled between his love for creative design and sports, never really fitting in. But his mental health took a turn for the worse once assuming the throne as Airbnb’s CEO. His other two cofounders—who he called his “family,” spending all their waking hours working, exercising, and hanging out together—were suddenly out of view from the peak of the C-suite. 

    “As I became a CEO I started leading from the front, at the top of the mountain, but then the higher you get to the peak, the fewer the people there are with you,” Chesky told Jay Shetty during an episode of the On Purpose podcast last year. “No one ever told me how lonely you would get, and I wasn’t prepared for that.”

    Chesky recommends budding leaders actually share their power, so no one shoulders the mental burden of entrepreneurship alone. 

    “I think that ultimately, today, we’re probably living in one of the loneliest times in human history,” Chesky said. “If people were as lonely in yesteryear as they are today, they’d probably perish, because you just couldn’t survive without your tribe.”

    Indra Nooyi, former CEO of PepsiCo

    Jemal Countess / Stringer / Getty Images

    Leaders at Fortune 500 giant PepsiCo face constant pressure from consumers, investors, board members, and their own employees. But it’s also tough to vent to peers who may not relate to—or even understand—the trials and tribulations of running a $209 billion company. Indra Nooyi, the business’ former CEO, said she often felt isolated with no one to confide in.

    “You can’t really talk to your spouse all the time. You can’t talk to your friends because it’s confidential stuff about the company. You can’t talk to your board because they are your bosses. You can’t talk to people who work for you because they work for you,” Nooyi told Kellogg Insight, the research magazine for Northwestern’s Kellogg School of Management, earlier this year. “And so it puts you in a fairly lonely position.”

    Instead of divulging to a trusted friend or anonymously airing out her frustrations on Reddit, Nooyi looked inward. She was the only person she could trust, even if that meant embracing the isolation. 

    “I would talk to myself. I would go look at myself in a mirror. I would talk to myself. I would rage at myself. I would shed a few tears, then put on some lipstick and come out,” Nooyi said. “That was my go-to because all people need an outlet. And you have to be very careful who your outlet is because you never want them to use it against you at any point.”

    Carol Tomé, CEO of UPS

    Kevin Dietsch / Staff / Getty Images

    Before Carol Tomé stepped into the role of the CEO of UPS, she was warned the top job goes hand-in-hand with loneliness. The word of caution didn’t phase her—at least, not at first. But things changed when she actually took the helm of the $75 billion shipping company. 

    “I would say, ‘How lonely can it really be? It can’t be that lonely?’ What I’ve since learned is that it is extraordinarily lonely,” Tomé told Fortune last year. 

    “When you are a member of an executive team, you hang together…Now, my executive team will wait for me to leave a meeting so that they can debrief together. It’s the reality and you have to get used to it. But it is super lonely.”

    Tim Cook, CEO of Apple

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    Apple CEO Tim Cook isn’t immune to the loneliness that often comes with the corner office. More than 14 years into his tenure, he’s acknowledged his missteps, which he called “blind spots,” that have the potential to affect thousands of workers across the company if left unchecked. Cook said it’s important for leaders to get out of their own heads and surround themselves with bright people who bring out the best in them. 

    “It’s sort of a lonely job,” Cook told The Washington Post in 2016. “The adage that it’s lonely—the CEO job is lonely—is accurate in a lot of ways. I’m not looking for any sympathy.”

    Seth Berkowitz, founder and CEO of Insomnia Cookies

    Courtesy of Insomnia Cookies

    Entrepreneurship can be a deeply fulfilling and rewarding journey: an opportunity to trade a nine-to-five job for a multimillion-dollar fortune, if all the right conditions are met. And while Insomnia Cookies’ Seth Berkowitz loves being a CEO and all the responsibilities that come with it, he cautioned young hopefuls about the weight of the career. He, like Cook, advises aspiring founders to counter loneliness with genuine, meaningful connections.

    “It can be lonely; it’s a solitary life. It really is. [During] the harder times, it’s very solitary—finding camaraderie, mentorship, some sense of community, it’s really important,” Berkowitz recently told Fortune. “Because I go so deep, it’s sometimes hard to find others and let them in.”

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    Emma Burleigh

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