I dispute that Apple is being run efficiently. Compared to 5-7 years ago, Apple has grown in size dramatically, hired a lot more engineers and other staff in pretty much every department. Yet Apple's output in terms of quality products seems to be about the same or less, and Apple's output in terms of services is larger, but not necessarily better. What are all these engineers doing? You know that expression that COE types always say, do more with less? Well, it seems Apple is doing meh with more. The output per engineer is much lower than it was.