Chapter 1: What is the main topic discussed in this episode?
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Alrighty, great to have your company. Thank you for joining us. Tuesday, April 21, the day that we will remember that Tim Cook stepped down as Apple CEO. Well, announced he was stepping down anyway. Doesn't come much bigger than that. Put it this way, when ABC calls me to be on the television, you know it's a big tech story.
You know, it's funny, I can kind of judge the story by the number of phone calls and Yeah, today's a big day. It was already a big day because it's my Tuesday for my radio spots. But then we end up with a huge announcement at about 6am our time in Australia, in Sydney anyway, that Tim Cook would be standing down.
Now, long rumoured, and this is the thing, I got this question a lot, is this a shock? The announcement was a shock, but the contents of it were not. So we weren't made aware it was going to happen. We weren't sitting by the phone waiting for an email. But when it was announced, it was not a shock what was announced. Does that make sense? John Ternus, the new Apple CEO, was well rumored.
And I think that's probably part of the strategy over the last couple of years or certainly last six months. People like Mark Gurman at Bloomberg have been solidly reporting this. And I think that is a strategy. I think from a business perspective, you leak the hell out of what's happening and see how it lands. And it landed okay. There wasn't any major pushback.
They aren't struggling to justify this. It's kind of made perfect sense in many ways. So Tim Cook will become the executive chairman of Apple. John Ternus will become the CEO. And obviously the quotes are glowing. Tim Cook says, it's been the greatest privilege of my life to be the CEO of Apple and I've been trusted to lead such an extraordinary company.
But he says of Ternus, he has the mind of an engineer, the soul of an innovator and the heart to lead with integrity and honor. He's a visionary whose contributions to Apple over 25 years are too numerous to count. So 25 years. The bloke is not old. Like I'm talking ā I'd have to find out. We could probably find out, I guess. But I'd say he's not 50. I'm going to Google him as we speak.
Yeah, born 1975, so he is 50. He's just 50. Now, Tim Cook's 65. So that to me is the indicator here. Tim's direct leadership team are senior. You know, Greg Joswiak, Bob Borchers, people who have been at Apple for a very long time and frankly at some point have to question their own desire to retire.
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Chapter 2: What does Tim Cook's resignation mean for Apple?
So that's fascinating, right? Because it's also a way for Apple to cement the Steve Jobs mantra legacy vision for another 10 to 15 years. See, if you wait another five years for Tim Cook to leave, you lose Ternus because he'd go somewhere else.
You'd lose some of the senior executives because they're getting older, and you'd have a bunch of young people who don't have the Steve Jobs legacy built into them. The distortion field is strong there, and that's a really important part of the business. So under Cook's leadership, it's grown from a market capitalization of $350 billion to $4 trillion. representing more than a 1,000% increase.
Yearly revenue has quadrupled from $108 billion in the first year of Tim Cook's time to $416 billion.
Wow.
That's a lot of money. That's a lot of revenue. So congratulations to John Ternus. He'll be great. He's an engineer. He's led some of the most amazing products. He's worked through the iPad line, the AirPods line, iPhone, Mac, Apple Watch.
There's talk online about how he was a mechanical engineer designing virtual reality headsets at a company called Virtual Research Systems before he joined Apple in 2001 as a member of the product design team. So that's a fascinating thing for me because it means he has that kind of VR knowledge. And obviously that probably played strongly into the Vision Pro, but where does it go from here?
And that is the vision for Apple's future. He's not going to change anything in the next little while. But the teams that we don't see, the rooms that we've never seen, what are they working on and what will he push them to work on? That's the big change. He is going to take the role of CEO on September the 1st. Now, September the 1st, by my calculations, is one week and one day ahead.
Actually, it'll be one week exactly because the iPhone event will normally be on Tuesday. It'll be one week before the iPhone event this year. Do you have Tim Cook and John Ternus on stage as a handover at their first major event, or do they do that at WWDC? It's going to be fascinating, but nothing much will change. But we do have... the Apple foldable launching this year.
And that story is going absolutely bonkers right now on EFTM. We have not seen traffic like this in a very long time. So a lot of interest in the foldable from Apple, all eyes on Apple because of the foldable and because of the AI. So let's just see how it all plays out for John Ternus. Congratulations, the new CEO of Apple. He'll be fine. Nothing can go wrong for years.
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Chapter 3: Who is John Ternus, the new Apple CEO?
Yeah, really good. What can I do for you?
I noticed something strange in my Gmail on my Android phone.
Okay. Let me open up Gmail on my Android phone. So I've got my bearings. What did you notice?
Yeah, sometime back, what email asks for confirmation of your credentials every now and again, and you've just got to re-enter, it's usually OptusNet email that happens with. So I do that and then it's okay. But then just before Christmas, Optus had problems with their emails and I couldn't re-establish contact with them. with OptusNet through my Gmail accounts. And so I kept doing it.
And then I realized that my name had been spelled differently. If I give you an example, maybe an email address is abcd at optusnet.com.au. Well, that'd be my email address. But this other email address had a line above the A.
Okay. Now, when you say you're seeing this alternate email address, where? In emails that are received or sent or in your actual account?
No, I've not had any problems from it, but I went and looked for a Gmail address that I wanted to do some eBay shopping. And so if I had an email and there was problems with it, I could just delete it and forget about it. Sure, sure. Sort of a throwaway thing. So I went into settings. So if you go into your email and then your top left corner with the lines. Yep.
All the way down the bottom of settings, yep. Settings, general settings.
And then it lists your email accounts.
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Chapter 4: How has Tim Cook's leadership impacted Apple's growth?
Run a stand at the TV. Is your TV connected via Ethernet or Wi-Fi?
It's Wi-Fi.
So stand at the TV. We'll put a laptop next to the TV. Put it on the Wi-Fi and do a speed test. Do three speed tests. Get yourself an average. Okay, you're seeing 250 or whatever. Yeah. I mean, there's no way that should create a problem for the TV, let's be honest, if you're seeing 200 there.
So one thing with the TV is to forget the Wi-Fi network and reconnect to see whether it just needs to kick off the bum, basically. But aside from that, you could go around and turn things off. So the best scenario of all is turn everything off except the modem and your laptop, for example, and do the speed test again and see whether you get vastly better speeds.
And if you do get vastly better speeds, then one by one, turn things back on. Let it connect, let us do a thing and see which thing is dragging the network down. And if it turns out that nothing's dragging the network down, it's just rubbish, so it's just bad Wi-Fi, then you need to contemplate getting yourself a different Wi-Fi solution. Forget the ā you can still use that existing modem.
Are you on fiber or hybrid fiber, Kyax or HFC? What are you on?
Supposed to be hybrid fiber.
Yeah, so you're on the old Foxtel Optus cable, yeah?
Yes.
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