I'm not sure if this is still true, but I recall reading something about Apple not participating in any philanthropic ventures? With so much money (and aside from the point that they invest a lot in their products), it's a wonder why they don't work on innovating products to help struggling nations. Granted, there's no rule that says a company needs to do these sorts of things, but I think it would be a cool move.
I've had very bad experiences with these types of organizations. I once visited an institute for blind people and I had the chance to see them using the computer lab. I was moved by the scene: all these eager young people hungry for learning, and yet they didn't have internet. Their Braille library was 20 books.
So I made a huge effort and found someone who could donate a router, took $500 in savings (which, as a student in Mexico, was quite a sum) and asked friend to match my donation. So my donation was in essence two years of internet.
Some time went by and when I followed up, the router was stowed in a closet and my donation had gone to "administrative purposes" because they were having trouble making ends meet.
This is a huge problem in charitable organizations, most of the money doesn't go to the people who need it, it goes towards maintaining the organization and generating more money through bothersome print and phone campaigns.
I've met a couple of people who have worked in these organizations, and they become jaded once they catch the mechanics. There are certainly exceptions: The Bill and Melinda Gates foundation and the Turner Foundation function on the funds provided by their founders.
I still believe in charity, but in a more peer-to-peer fashion, not necessarily involving money but mentoring that builds long-standing roads to success.
Can Apple do that? Helping struggling nations is not exactly extracting value for the shareholders and that’s what Apple has to do.
You can argue that spending some money (maybe a few million dollars per year) is good PR work and good for the company’s image – but spending a substantial portion of those 76 billion? Hardly a good way to use the money (from the shareholders’ perspective).
Apple could certainly participate in philanthropic ventures but it’s not a way for them to get rid of their money.
This kind of comparison is ridiculous. Gross domestic product (GDP) refers to the market value of all final goods and services produced within a country in a given period. [Wikipedia] It would have units of [money]/[time]. Apple's cash hoard is just a lump sum reserve; it has units of [money]. To compare the two is meaningless.
A similarly meaningless comparison would be between distance and speed or countless others. Simple dimensional analysis shows how inane this whole comparison is.
It's not ridiculous to compare something to something/time. I could say a restaurant has more food in the kitchen than a family could eat in a month. That is what we are saying here, a company has more money in the bank than many countries produce in a year. It doesn't have to be the case, we could live in a world where companies are small and countries are all large in comparison. We don't.
That's current accounts for the country (i.e. inflows less outflows), not "cash hoards". There's no easy way to measure a country's "cash hoard", as it were. GDP goes up with the number of transactions, even if there is no value added in each transaction. Money is just a way of making value liquid, fungible and transferrable etc.; the amount of it specifically is relatively meaningless, as banks etc. can multiply it based on reserve ratios.
This may seem an unfair and ridiculously large amount of money to hoard, but there's one reason it isn't. When Bush came in his admin just took Microsoft off the hook. The US is so capitalist that it's quite happy for monopolies to subvert the whole point of capitalism - competition. So Apple, and every company, including Microsoft, must hoard as much paranoia money as it can, because the US government's willingness to be corrupted is obvious to everyone, especially if you're Apple, or say, Netscape. They got away with destroying it, didn't they. They wish we were all still using IE6. When the government is on the side of your competition, no amount will make you safe. They will crush you, while paying their friends soft money to look the other way.
A fascinating thing here is that despite all of Apple's current products, all the rising sales numbers, all the hype, popularity and air of coolness surrounding them and all the generally good news about them and all that... up to the launch of Lion, the share price has hardly moved and if anything it went down - just because Steve Jobs announced he would retire.
[+] [-] rglover|14 years ago|reply
[+] [-] duopixel|14 years ago|reply
So I made a huge effort and found someone who could donate a router, took $500 in savings (which, as a student in Mexico, was quite a sum) and asked friend to match my donation. So my donation was in essence two years of internet.
Some time went by and when I followed up, the router was stowed in a closet and my donation had gone to "administrative purposes" because they were having trouble making ends meet.
This is a huge problem in charitable organizations, most of the money doesn't go to the people who need it, it goes towards maintaining the organization and generating more money through bothersome print and phone campaigns.
I've met a couple of people who have worked in these organizations, and they become jaded once they catch the mechanics. There are certainly exceptions: The Bill and Melinda Gates foundation and the Turner Foundation function on the funds provided by their founders.
I still believe in charity, but in a more peer-to-peer fashion, not necessarily involving money but mentoring that builds long-standing roads to success.
[+] [-] Game_Ender|14 years ago|reply
[+] [-] ugh|14 years ago|reply
You can argue that spending some money (maybe a few million dollars per year) is good PR work and good for the company’s image – but spending a substantial portion of those 76 billion? Hardly a good way to use the money (from the shareholders’ perspective).
Apple could certainly participate in philanthropic ventures but it’s not a way for them to get rid of their money.
[+] [-] joejohnson|14 years ago|reply
A similarly meaningless comparison would be between distance and speed or countless others. Simple dimensional analysis shows how inane this whole comparison is.
[+] [-] harryh|14 years ago|reply
How much that matters is certainly unclear, but it's interesting to think about for sure.
[+] [-] pbw|14 years ago|reply
[+] [-] robin_reala|14 years ago|reply
https://www.cia.gov/library/publications/the-world-factbook/...
is correct then Apple slots in at position #4 (!), slightly ahead of Russia and quite a bit behind Germany.
[+] [-] barrkel|14 years ago|reply
[+] [-] bmm6o|14 years ago|reply
Agreed. The comparison doesn't make sense as the numbers don't have the same units. $ vs $/year.
[+] [-] tybris|14 years ago|reply
[+] [-] aj700|14 years ago|reply
[+] [-] nhebb|14 years ago|reply
[+] [-] kahawe|14 years ago|reply
[+] [-] macrael|14 years ago|reply
[+] [-] riobard|14 years ago|reply
Fascinating.
[+] [-] 4J7z0Fgt63dTZbs|14 years ago|reply