Tim Cook’s 15-Year Run, Meta's $18B Teen Safety Deal & 21 Banks Convene on Stablecoins

Tim Cook's fifteen years running Apple ended this week and John Ternus becomes the company's eighth CEO, a hardware engineer who led every iPad, the last five iPhone generations, and AirPods. Claire and Sam argue Apple's decision to sit out the model building race may have been the right one, since it left the company competing on product experience while licensing models from others. Ternus fronts his first iPhone event next Wednesday.

Meta agreed to pay eighteen billion dollars to settle state claims that Instagram and Facebook were designed to addict minors, without admitting wrongdoing, and the product terms are the part that matters. A two hour daily cap across both apps, no feeds or Reels between midnight and six, and only a parent can lift any of it. The same morning Meta ran full page ads asking TikTok and YouTube to adopt the same rules, offering to tighten its own cap to one hour per app if they follow. Then Sam explains why twenty one financial institutions want to issue a dollar stablecoin of their own, and why the banks watched transaction volume move onto rails they do not own. She reads it as a treasury tool before it is a consumer one.

Chapter

0:00 Tim Cook Steps Down As Apple CEO

1:45 Tim Cook's Legacy By The Numbers

4:00 John Ternus: Apple's 8th CEO

5:05 Apple's AI Strategy Explained

10:33 Meta's $18 Billion Teen Safety Settlement

12:29 New Instagram And Facebook Teen Limits

17:52 21 Banks Explore A Joint Stablecoin

18:28 What Is A Stablecoin?

22:33 Why JPMorgan Isn't Joining The Group