Apple has done 'nothing new' since Jobs era: PayPal co-founder
What's the story
Peter Thiel, the billionaire co-founder of PayPal and a prominent venture capitalist, has criticized Apple for its lack of innovation since the death of Steve Jobs in 2011. In an interview with author Walter Isaacson on The Builders podcast, Thiel said that while Apple is still a financial powerhouse, it hasn't introduced anything truly innovative in the tech world since Jobs's time.
Innovation critique
Thiel's take on Apple's lack of innovation
Thiel examined Apple's journey over the last 15 years and claimed that the company has mostly been riding on the success of the original iPhone launched in 2007, instead of coming up with new ideas.
"In my telling, it did nothing new after Jobs," he said during his interview.
He also noted that while mobile phones were a major invention, there wasn't much more to do beyond scaling and branding them over time.
Product growth
Apple's product expansion since Jobs's introduction of the 1st iPhone
Since Jobs's introduction of the first iPhone, Apple has certainly expanded its product range with MacBooks, iPads, and AirPods becoming common household items.
The company also launched its first foldable phone, the iPhone Duo, on October 23.
But from Thiel's point of view, refining and expanding existing products isn't the same as creating a whole new category.
Leadership comparison
Thiel prefers visionary leaders over operational managers
Thiel clarified that he doesn't think Apple is a failing company, but rather a "pure, well-run value stock."
His main issue is with what he sees as a departure from the bold, risk-heavy innovation that characterized its early years.
He also compared corporate leadership styles and said he prefers visionaries over operational managers.
"I would still say somehow Elon or Steve Jobs are way better for society than Tim Cook," he said.