PayPal co-founder Peter Thiel criticized Apple for a lack of innovation since Steve Jobs died in 2011. He said, "In my telling, it did nothing new after Jobs." Thiel feels the company just keeps refining old products instead of creating new ones, even after launching the iPhone Duo on October 23.
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.
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.
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.
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.