Tim Cook has staged what is arguably the greatest succession success in tech, an industry littered with managers who failed in the effort to follow in the founders’ footsteps
THE APPLE will surely fall, even if ever so slowly. When Tim Cook took the helm from Steve Jobs, the firm’s co-founder, a decade ago, even the most boosterish Apple fanboys worried that the company was destined to decline. Without Apple’s original Willie Wonka, the digital chocolate factory was about to be run by an automaton who made his career organising global supply chains and scrutinising spreadsheets.
For a longer answer it helps to understand what Mr Cook got so right. Besides being an exceptional manager, he proved adept at harnessing the forces that have powered the tech industry—and with it the global economy—in the 2010s. Mr Cook was the first big-tech boss to signal, loudly and often, that companies of Apple’s size and reach must take some responsibility for their impact on the wider world. Under Jobs, a gadget’s looks were more important than how they were made. Today Lisa Jackson, a former head of America’s Environmental Protection Agency and now a vice-president directly reporting to Mr Cook, is involved in product development from the start.
At some point, however, Apple will need another keystone innovation like the iPhone. Hence talk of “iGlasses”, which would add a digital layer to the physical reality perceived by the wearer, and even an iCar. Although the firm does not confirm this, it is an open secret that it has been working on both for years.
Judging by Apple’s latest supplier list, the firm has even increased its reliance on Chinese companies. Of the top 200 suppliers, 51 were based in China, up from 42 in 2018. At the height of the trade war then-president Donald Trump waged with China in 2019, Goldman Sachs, an investment bank, estimated that in the worst-case scenario Chinese retaliation could reduce Apple’s profits by nearly 30%.The fallout could be worse if Apple’s products and services were banned in China.
Such cosiness is fraying. To sustain trillion-dollar valuations all the tech giants are searching for new sources of growth—and finding them on one another’s turf. Giving iPhone users more control over their data may be rooted in a genuine wish to protect their privacy, but it also keeps data out of Facebook’s hands, which could helps Apple build its own advertising business. Apple is also rumoured to be working on its own search engine.
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