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Coasting on the legacy of his predecessor is considered "doing as good a job"?

Cook's legacy and Jobs' legacy are one and the same. There was and is a lot more to Apple than a new product every few years and flashy keynotes. Cook transformed Apple from a company that was trying to build new products out of other companies' parts bins and couldn't weather a single dud without winding up on bankruptcy's doorstep again into a company that is so efficient that every quarter it can deliver tens of millions of products that never existed before from manufacturers that in some cases didn't even know they were going to make it six months prior.
 
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Nice to see that all Apple employees can enjoy high salaries as per the example of the CEO.
 
Post his contract, please. TIA for the 411.
His contract likely is not public, but there were many articles about the company policy forcing him to use a private jet:

Since 2017, Cook has been forced by company policy to use only private jets for business and personal travel. Apple said it was for security and efficiency reasons. Back then his travel expenses were $93,109 while security expenses totaled $224,216, according to Apple's 2017 SEC regulatory filings.

His private jet expenses have ballooned since the policy came into force. In Apple's just released 2020 filing for shareholders, Cook's travel expenses were $432,564, up from $315,311 in 2019.


Does Apple really think travelling commercially is dangerous? Those tiny private jets usually crash much more often than large commercial planes. Usually because the pilot often feels the pressure to take a higher risk in order to get his client to the destination. That problem killed many celebrities and even politicians.
 
Does Apple really think travelling commercially is dangerous? Those tiny private jets usually crash much more often than large commercial planes. Usually because the pilot often feels the pressure to take a higher risk in order to get his client to the destination. That problem killed many celebrities and even politicians.

I doubt it's the safety of the flight itself as much as it is keeping the public at a safe distance from him. Flying private means he can have a security detail with him and limit his exposure between the plane and car. Like it or not, there are opportunists out there that would love nothing more than to make a statement by physically confronting and harming the CEO of one of the largest and most publicly recognized companies on the planet.
 
I can’t think of many CEO’s of Fortune 500 companies that have a salary of $3m or less. It’s exactly how it should be, he runs the most valuable company in the world…and he is getting compensated through the stock price…the job of a CEO is to maximise shareholder wealth!
That works well for Tim and Apple in the here and now, but how long will this success last without serious new product innovation to appease the market? Just ask BlackBerry.
 
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Well, I believe he earns exactly according to his contractual agreement. Now, if he could steer Apple towards its former glory in terms of innovation and design, THAT would be worth a headline!
 
That works well for Tim and Apple in the here and now, but how long will this success last without serious new product innovation to appease the market? Just ask BlackBerry.
I guess we have differing interpretations of what meaningful innovation entails.

In my opinion, what Apple has done well since Steve Job's passing was to build a formidable ecosystem around the iPhone. Tim Cook made the right call in making the iPhone the centre of Apple, rather than the Mac (because the number of people who own an iPhone vastly outnumber those who own a Mac).

At the end of the day, I believe that Apple is a design company selling tools that can improve people’s lives. It does this not through any one product, but by the interplay between hardware, software and services to create a superior experience that people are willing to pay a premium for.

It's also why I would like to throw the question back to @Col4bin

Blackberry was disrupted by a superior product (the iPhone), and that's the whole problem - it sold a product. What will Apple be disrupted by, given that it isn't defined by any one product but rather, the user experience (which is again, derived from hardware, software and services integration)? And since no company comes close to replicating the Apple ecosystem or offering as cohesive a product line, I really don't see any credible threat to Apple at the moment.

Fast forward to today, and we are rewarded with articles like this:
SEOUL—Consumers around the world are increasingly choosing Apple Inc.’sAAPL -1.39%decrease; red down pointing triangle iPhones over high-end Android smartphones, with younger users seen as pushing the company toward the level of dominance in the market globally that it has enjoyed in the U.S.
I have a number of theories as to why this is to case. We have Apple's famous integration between hardware, software and services coming together to create a unique user experience that the competition can't emulate, we have mobile carrier promotions, instalment plans and trade-in programmes coming together to make iPhones more affordable and accessible, we have accessories like the Apple Watch, AirPods and AirTags giving incentive to either get an iPhone or stick with one, and most importantly, Apple's take on innovation (where it prioritises quality over quantity) is resonating with consumers who prefer more practical and useful tools over the kitchen sink approach of companies like Samsung.

It's also difficult to compete with "cool", which is what Apple is currently seen as. These are intangibles that cannot be quantified on a spec sheet, but they matter, and more importantly, can't be readily aped.

What I am trying to say is that there is a lot more to running a successful business than a very narrow and engineering-focused take on what "product innovation" entails (just look at the galaxy fold as an example of a technologically-impressive device that hasn't really taken off). Something like having an entire array of Apple Watch bands, much as the people here like to poke fun at it, has been integral to the Apple Watch being as popular as it is, even though there's nothing technologically innovative about them, because it's purely a fashion play (just as the decision to release a yellow iPhone 14 at this time is a purely business-driven move aimed at smoothening their balance sheet). But it's one that works, because it understands the human psyche.

My advice to each and every one of the Macrumours members here is, as it always was, is that we really should be trying to explain Apple's success. Not explain it away.
 
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If Steve Jobs had chosen Scott Forestall to inherit his mantle, then today's Apple would've likely continued Jobs's focus on innovation and making user-friendly tools. But instead, we are stuck with that mediocre MBA suit Tim Cook whose focus is on maximizing profits and pleasing shareholders.
You are most definitely correct. Apple fans just don't see it that way though.
 
how long will this success last without serious new product innovation to appease the market? Just ask BlackBerry.
Apple has just in 2020 easily doubled and in some cases nearly tripled battery runtime of its laptops and made the entry level MacbookAir so competitive in terms of performance, battery runtime as well as pricing that it has no entry level laptop competition. At the approximate $780 price point throughout the previous year it still remained at the top two years later. Similarly, starting at $1599 for the 14" base model there is no better spec laptop for the money towards the midrange, and even on the laptop high-end devices they easily compete with the HP Firefly, Dell Precision and Lenovo Thinkpad X1 devices that have at best similar specs at the same price points.

To put differently, Macbooks are more competitive than ever before. Similarly, iPhones are by far the best selling smartphones on the market.

What new product should they innovate? I am glad they went back to basics and really listened to their customers this time around and improved performance, battery runtime, and connectivity on their Macbooks. I can do without the "innovations" that were the touch bar, or removing Magsafe, etc. We can also now have near-unlimited warranty runtimes which is very appreciated as I can now justify keeping Apple devices for more than 3 years (since I am essentially required to make sure business critical devices are under active support contracts) instead of throwing out perfectly working devices just because the 3 year Applecare limit is reached. Now I can extend that to 4-5 years.

There isn't a need to reinvent the wheel, their devices are already among the most solid on the market. What they need to improve on is the fine details, such as the big Macbook flaw where the logic board design places 12V voltage pins too close to the SSD which leads to Macbooks being damaged beyond economical repair. And perhaps paying their retail workers more than the minimum they can get away with.
 
Such stratospheric pay insures that they will never know what the rest of us have to do to live.

Fill up the car, or eat. Eat, or fill a prescription. Cloths for the kids for school, or fix the car. Pay the minimum on the credit card, or pay the gas bill.

I don't begrudge people the rewards for their efforts, but in these cases, the person just gets the gold ring and sure he took a 'pay cut', but it's still an insane amount of money for someone who occupies a posh office and has crews of people waiting on them while flying private. Sad...
 
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Actually $50 million does not seem a lot, as even some YouTubers make more money. And Cristiano Ronaldo for example makes about $1 million with a single sponsored Instagram post.

However on the other side those $50 million imply that Tim Cook has a talent that only a very small number of people have. I am not so sure about that. There may be 10,000 skilled people in the world who could run the company as well as Tim Cook. He just happened to be in the right position at the right time.

I saw an interview with the great actress Judy Dench and she admitted, that actors like her with all the fame and money just were lucky to be "discovered" by the right people. There are many very talented actors in small theatres around the world, who could to the job as well as the famous ones. It is quite random who gets famous. Of course talent is needed, but for every famous talented person there may be 100 equally talented people who never get famous. With CEOs it is similar.

Axel Springer was a big publisher in Germany. He married Friede, the nanny of his two sons. She did not have any experience in business at all, but when he died, she inherited his company and built a media empire out of it that was became much bigger than it was during the lifetime of her husband. So a nanny suddenly was one of the most successful CEOs in Germany. Of course she surrounded herself with experts, but had the final words. That shows what people can achieve if you give them the chance. Who would have thought that a nanny could run a media empire?
 
That works well for Tim and Apple in the here and now, but how long will this success last without serious new product innovation to appease the market? Just ask BlackBerry.
What is blackberrys answer? Remember each MR poster has their own definition of innovation. The public does not buy your definition.
 
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If Steve Jobs had chosen Scott Forestall to inherit his mantle, then today's Apple would've likely continued Jobs's focus on innovation and making user-friendly tools. But instead, we are stuck with that mediocre MBA suit Tim Cook whose focus is on maximizing profits and pleasing shareholders.
There is a reason Steve didn’t. I’ll leave it to MR posters to opine why.
 
However on the other side those $50 million imply that Tim Cook has a talent that only a very small number of people have. I am not so sure about that. There may be 10,000 skilled people in the world who could run the company as well as Tim Cook. He just happened to be in the right position at the right time.

There could be more. There could be 100,000 skilled people who could run the company just as well.

But the owners and bosses of company (the shareholders, and the Board as their representative) don’t want to gamble on someone who *could* run the company well. They pay whatever they pay Tim because they *know* he runs it well.

If they knew a certain person could run it better, for less money, they would do that instead. Its their decision.

I don’t think Lebron James deserves half a million dollars for each game where hes throwing a ball in a basket…but im not paying for tickets or merchandise so his salary doesnt come out of my pocket thus its not my place to say
 
All Tim has to do is continually milk current product lines without taking risks, just to be rewarded $50m every year. What a life!

Yeah...absolutely taking no risk at all dumping Intel with their awful incremental performance improvements, and instead developing your own CPU/GPU silicon, substantially improving performance while reducing power consumption. And most importantly, not being held hostage to Intel's product timeline/roadmap.
 
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There is a reason Steve didn’t. I’ll leave it to MR posters to opine why.

It would have been a mess without Cook at the helm of Apple and its 164,000+ employees.

Apple would have joined the likes of Meta/Facebook, Amazon, Dell, HP, Zoom, Salesforce, Microsoft, Yahoo, google, PayPal, Cisco. etc who have been poorly managed during the pandemic and economic downturn, and now forced into having massive employee layoffs.
 
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