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> When I read about the 10 billion disaster that was the failed Apple Car development effort, I can’t help but think that current Apple leadership has abandoned
by RcouF1uZ4gsC 3y ago
> When I read about the 10 billion disaster that was the failed Apple Car development effort, I can’t help but think that current Apple leadership has abandoned all the entrepreneurship wisdom of their former CEO and co-founder.
Actually, that 10 billion dollar disaster actually makes me more happy. Many companies are very happy to sit on their laurels and just keep milking their cash cows without trying to innovate.
To put that 10 billion dollar number into context, Apple gets around 18 billion per year from Google just to be the default search engine.
When you get that kind of money, it makes sense to make attempts to create a new market segment. The 10 billion spent on the Apple Car was over several years.
Also, even failed endeavors can lead to experience. I would bet that the lessons learned from the Apple Newton probably helped shape the iPod and later the iPhone that became runaway hits.
- dangus 3y agoIt’s completely ridiculous that this effort is framed in this way, as if spending $10 billion was irresponsible and against the wisdom of their late Demigod founder. Apple has so much cash that they literally can’t spend it. If Apple wanted to get into unrelated large capital industries like oil, banking, healthcare, or commercial aviation I wouldn’t blame them. Consider this example: more than half of US airline revenue is made up of credit card financing activities. They are banks first and airlines second, so it would make a ton of sense for Apple to get in on that type of industry.