Patrick McGee

My first takeaway is there are limits to what you can put in a spreadsheet.

Things that don't make a spreadsheet still matter.

A second major takeaway is that owning the process is more important than owning the technology.

If you think of Airbnb and Uber as asset light tech companies, Apple did that 10 years before either of them existed and made asset light manufacturing by controlling the supply chain, by orchestrating the supply chain rather than building anything themselves.

And the third is even the world's most sophisticated supply chain company can fall victim to the rookie and calamitous mistake of putting everything in one basket.

It's the ultimate example of that.

Well, you're already thinking about it the way I think about it.

I mean, look, I think if you're looking at it from 2026, it is hard to fault this guy.

As you said, $3.6 trillion added to Apple's market cap.

You know, he clearly fulfilled whatever tasks Steve Jobs set him out to do.

His role was not necessarily to come up with breakthrough products.

It was to iterate what Steve Jobs had already come up with on a global scale.

He squeezed every penny that was really available in the supply chain.

He built up services.

He put Apple into new areas like Apple TV and a host of things like that.

He's getting $20 billion of profit per year just out of the Google relationship, right?

Just sort of using the user base in Apple's favor.

So, I mean, all kinds of things.

But

What you're pointing to is where will we see this 10 years from now?