Apple under fire after two Apple investors urged the company to step up and play a bigger role in managing smartphone overuse and addiction. David Benoit, Activism Reporter at The Wall Street Journal, was with us to discuss why Jana Partners has decided to push Apple to develop tools and research the effects of smartphone overuse by young people.
Benoit says the investors aren’t saying its necessarily Apple’s responsibility to monitor phone usage. Instead, he thinks they believe that Apple could play an important role in acknowledging that they aren’t sure what the impact of all this phone usage will be, but could score points by giving parents the option to monitor usage.
Activist investors typically focus on things like buybacks and acquisitions. Benoit says this move by Jana Partners to take a stance on corporate responsibility is very different. He thinks following Jana's advice could help protect Apple from potential backlash on teen iPhone usage. In addition, Benoit says goodwill could help drive future sales if consumers feel Apple made a phone that is safe for kids.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
America’s employers added just 235,000 jobs in August, a modest gain after two months of robust hiring at a time when the delta variant’s spread has discouraged some people from flying, shopping and eating out.
Stocks closed mostly lower on Wall Street Friday following a weak jobs report, but gains for a handful of Big Tech companies allowed the Nasdaq composite to sneak in another record high.
The number of Americans seeking unemployment benefits fell last week to 340,000, a pandemic low, another sign that the job market is steadily rebounding from the economic collapse caused by the coronavirus pandemic.
The stock market recovered from an afternoon stumble and ended with modest gains Thursday, enough to mark more record highs for the S&P 500 and the Nasdaq.
A group of Democratic senators quietly put forth a bill that could reshape domestic manufacturing in the United States.
Stocks inched mostly higher on Wall Street Wednesday, enough to nudge the Nasdaq composite index to an all-time high.
When Only Fans announced that they would be blocking adult content on the platform, creators like Pyra Faye were shocked and disheartened.
Cheddar asked its Gen Z and Millennial-aged Facebook and Instagram users about several topics including how they use social media, buying cryptocurrency, and the future job market.
Google is once again postponing a return to the office for most workers until mid-January.
