Apple CEO Tim Cook called House Speaker Nancy Pelosi and other members of Congress last week, warning lawmakers that newly proposed antitrust legislation would harm consumers and hurt innovation, five sources with knowledge of the conversations told The New York Times.
Lawmakers introduced a series of antitrust bills that target Facebook, Apple, Google and Amazon, The New York Times reports. The legislative efforts seek to rein in the tech companies by addressing alleged anti-competitive practices and by curbing monopoly power, according to a report by CNET.
Pelosi pushed back on Cook’s warnings, asking him to name specific policy objections, two sources with knowledge of the conversations told The New York Times. Read More
Apple Chief Executive Officer Tim Cook’s annual compensation increased by 28% in 2020 even as the coronavirus pandemic sparked a recession, according to filings.
Tim Cook’s 2020 compensation totaled $14.7 million, which was mainly comprised of performance-based pay, according to Securities and Exchange Commission (SEC) filings released Tuesday, Business Insider reported. While the coronavirus pandemic sparked a recession in the spring, Apple consistently reported positive financial figures including increased revenue and growth throughout 2020. Read More
Facebook CEO Mark Zuckerberg was the only tech executive at Wednesday’s antitrust hearing who unequivocally said China is stealing technology from American companies.
“I think it’s well documented that the Chinese government steals technology from American companies,” the 36-year-old Silicon Valley executive said after Rep. Greg Steube asked him if China is stealing from U.S. technology companies. The Florida Republican posed the same question to CEOs Tim Cook of Apple, Jeff Bezos of Amazon, and Sundar Pichai of Google. Read More
They command corporations with gold-plated brands, millions or even billions of customers, and a combined value greater than the entire German economy. One of them is the world’s richest individual; another is the fourth-ranked billionaire. Their industry has transformed society, linked people around the globe, mined and commercialized users’ personal data, and infuriated critics on both the left and right over speech. Read More
President Donald Trump said Sunday that Apple CEO Tim Cook told him paying economic tariffs would make it difficult for his company to compete with the likes of Samsung. Read More
President Donald Trump said Friday on Twitter that Apple will “not be given Tariff wavers” for product parts made in China. Read More