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Hello there.
TGIF! An apple a day kept Tim Cook around for 15 years, so is it finally time for Apple to call a doctor, or are they healthy as ever?
In this issue:
🍎 Tim Cook's 15-Year Apple Run Ends With a 2,200% Stock Gain
⚡️ Uber Kicks 3,000+ Employees to the Curb
💍 Oura Stacks Its Board With Big Names Ahead of IPO
🤖 Trump Sides With OpenAI… But Not Everyone Does
🎙️ AI’s Reality Problem & The Cost of Progress
Speaking of, how come wearable tech is always focused on health tracking? I don’t need my ring to tell me my blood pressure’s rising as I’m elbow-deep in a bag of French fries. That’s between my human doctor and me. Let’s break it down. 👇
🍎 Cook Leaves Apple After a 2,200% Run
Tim Cook officially stepped down as Apple's CEO on September 1st, wrapping up a 15-year run that turned the company into an absolute monster. When he took over from Steve Jobs in 2011, Apple stock was trading around $13 (adjusted for splits). Now it's sitting at roughly $320. That's a gain of over 2,200%, which means if you dropped $10,000 into Apple when Cook started, you'd be looking at something like $230,000 to $270,000 today.
Cook wasn't just riding the iPhone wave either. He launched Apple Watch, AirPods, Apple Music, Apple Pay, and a whole services empire that now pulls in billions. The company went from $108 billion in revenue during his first year to over $416 billion in fiscal 2025. Apple also became the first US company to hit $1 trillion, then $2 trillion, then $3 trillion, and crossed $4 trillion last October. The market cap went from about $350 billion to roughly $4.67 trillion under his watch.
One of Cook's biggest moves was buying back almost $879 billion worth of Apple's own stock since 2013, shrinking the share count by over 40%. That made each remaining share worth more and helped push the stock price higher. Cook's not leaving entirely, though. He's sticking around as executive chairman while John Ternus, Apple's former hardware chief, takes the CEO seat. Apple's next big event is September 9th, and the new foldable iPhone everyone's been waiting for might finally show up. The rest of this year will serve as a preview of Apple’s next era - keep an eye out!
⚡️ The Tech Ticker
Uber is laying off 3,300 employees, 10% of its workforce, as CEO Dara Khosrowshahi pushes to "build the autonomous future."
X is moving US creator payouts to its own X Money service, replacing Stripe for all original content creators and subscription revenue.
Google avoided a forced breakup of its ad tech business after a federal judge rejected the DOJ's request to divest AdX.
GoPro is being acquired by Starman Optical for $285 million, though the action camera maker will remain a public company.
Nvidia invested $3.5 billion in a zero-coupon convertible bond issued by Taiwan-based chipmaker MediaTek.
💍 Oura's Proposing a Massive IPO
Oura, the company behind those smart rings that track your sleep and health, just added some serious firepower to its board. We're talking Jason Warnick, the CFO who helped Robinhood go public and spent almost two decades at Amazon. Leslie Kilgore, former marketing chief at Netflix, who now sits on the boards of Netflix and Pinterest. Miki Kuusi, who built Wolt from scratch in 2014 and sold it to DoorDash. And finally, David Sze from Greylock Partners, who invested early in LinkedIn, Roblox, and Facebook.
Oura filed confidentially for a US IPO back in May and is working with Goldman Sachs, Morgan Stanley, and JPMorgan on a deal that could value the company at up to $3 billion. The listing could happen as soon as this month. That would be a big jump from the roughly $11 billion valuation they had after their 2025 funding round. CEO Tom Hale says revenue could hit $2 billion in 2026, up from $500 million in 2024, with most of that growth coming from subscriptions rather than ring sales. The company is on track to pass 5 million paid members this quarter, each paying at least $5.99 a month.
If you're into wearables or consumer health trends, this one's worth watching. A hardware company that actually figured out the subscription game is pretty rare. Might be time to put a ring on it.
🤖 All Eyes on AI
The Trump administration sided with OpenAI in The NYT’s lawsuit, filing a brief that argues AI training on copyrighted material should qualify as fair use.
New lawsuits against OpenAI claim executives overrode safety team recommendations regarding the Tumbler Ridge shooter's ChatGPT conversations.
Waymo is going on offense ahead of Tesla's Cybercab launch, arguing that "pure end-to-end" AI systems using only cameras aren't safe enough.
OpenAI's ad business hit $1 billion in annualized revenue roughly 200 days after launching, with ChatGPT Ads now live in more than 40 countries.
Wall Street banks are demanding lower fees from elite law firms, arguing that AI is sharply reducing the hours needed for research, document review, and contract analysis.
🤡 Meme of the Week
🎙️ AI’s Reality Problem & The Cost of Progress
In this episode of This Week in Tech, the hosts unpack a week where AI-generated content becomes harder to distinguish from reality, tech giants consolidate even more power, and growing concerns emerge over who benefits from the next wave of innovation.
📻 Tune in to:
Explore how advances in AI video, autonomous agents, and machine reasoning are raising new questions about trust and transparency in tech.
Examine the growing concentration of power among companies like NVIDIA, Apple, and Meta.
Investigate the backlash forming around the AI economy, from data-center expansion and surveillance concerns to fears that the promised benefits of technological progress may not be shared equally.
🎧 Listen on:
⭐️ What did you think of today's edition?
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Till next time,
— Brandon and Blake
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