Comment by jmye
16 hours ago
“Capitulating to the current regime on everything is in shareholder’s best interests” is neither a foregone conclusion nor a statement of fact. It’s economic myopia at best.
16 hours ago
“Capitulating to the current regime on everything is in shareholder’s best interests” is neither a foregone conclusion nor a statement of fact. It’s economic myopia at best.
Let me be clear - I'm not happy about it. But ignoring such a reality reminds me of that quote comparing Job's best friend to a lawnmower.
That said, I'd love to enlightened to how it's myopic, or rather, what course(s) of action you would take, keeping in mind that Apple is a multi-trillion dollar public company.
I’m telling you that thinking a->b is myopic. It could be that shareholder value would’ve been higher had Tim Cook told Trump (or Biden, or Trump, or Obama) to go fuck himself. Perhaps the people who spend money on iPhones, specifically, would’ve been more inclined to buy a new iProduct, than they are now that he’s bent the knee.
Myopia is thinking “well he did it so it must have been good”. There are myriad other things he could’ve done, that have a strong argument towards higher shareholder value.
Edit to add: Think TSLA, if you want a concrete example. If that stock was at all trading on fundamentals (and if they had a remotely capable or competent board) and not Magic Memes, Musk’s hard right pivot was inarguably bad for the brand and shareholder value, even if it made the President temporarily happy.
Counterfactuals are weak opinion, at best.
Given that Apple is doing well, the onus is on someone claiming that Apple would have done better, having a strong argument.
Not "could" have done better, because things could obviously have gone better, worse, or anything else, given any substantive or random difference. Could means nothing.
(And I say this as someone very disappointed with how Cook handled that.)
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