follow us on twitter @elitebizmag find us on facebook connect with us on linkedin google+ page

In the loop: Tim Cook's surprise comment about Apple’s $1tn valuation and Wikipedia’s CEO isn’t feeling the cryptocurrency buzz

Written by Yoana Cholteeva on Friday, 03 August 2018. Posted in Insight, Analysis

What a week. Not only did Steve Jobs’ brain baby reach a record valuation but the past seven days also saw Wikipedia’s co-founder slam cryptocurrencies and the gender pay gap be revealed to be worse than you thought

In the loop: Tim Cook's surprise comment about Apple’s $1tn valuation and Wikipedia’s CEO isn’t feeling the cryptocurrency buzz

Photo credit: Apple

 Tim Cook’s surprising comment about Apple's $1tn valuation

Say what you will about Tim Cook but he know how to stay humble. While other corporate chieftains would’ve been tempted to celebrate in hyperbole when becoming the first company to be valued at $1tn, the Apple CEO modestly said it was"not the most important measure" of success in a memo to his 12, 000 employees.

Commenting on this “significant milestone,” Cook said: “Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values. It's you, our team, that makes Apple great and our success is due to your hard work, dedication and passion. I am deeply humbled by what you do, and it's the privilege of a lifetime to work alongside you.”

Channeling Steve Jobs‘ mannerisms, he encouraged the iPhone maker’s employees to “look forward to Apple's bright future” and to keep up the good work.

Talk about humble brag.

Online retailers are celebrating the highest year-on-year growth in eight years

High street retailers are suffering and the freakish weather at the beginning of this year didn’t help their efforts to regain customers to their stores. But while The Beast From the East reduced the footfall in traditional stores, online retailers has had their best first six months of a year since 2001.

In fact, digital vendors’ sales enjoyed a 16.8% year-on-year growth between January and June this year, according to Capgemini’s, the digital consultancy, and IMRG’s, the e-commerce community, latest research. During the same period, the average basket value jumped to £94, the highest since records began.

Although, we’re not surprised more people may do some recreational shopping online when the weather gods decide to keep them at home.

Jimmy Wales a co-founder of Wikipedia openly dislikes cryptocurrency

Given the cryptocurrency craze has convinced many companies to launch initial coin offering to fill their coffers, it was almost a relief when Jimmy Wales, co-founder of Wikipedia, revealed the online encyclopaedia would “absolutely never going to do that.”

Ironically, he was speaking to Business Insider at the Berlin blockchain conference BlockShow when he continued: “I have reservations about blockchain. It’s a super-interesting technology, but it’s clearly a bubble with a lot of mania and hype around it. People pay me to give speeches, so I flew to Berlin.”

This is hardly the first time Wales been publicly criticising the trend. Still, his openness is is refreshing in a time when even Kodak tries to breath in new life in its brand by launching its own cryptocurrency.

Government committee warns gender pay gap worse than you think

Everyone knows that the gender pay gap in Britain is really bad. However, the Business, Energy and Industrial Strategy Committee’s latest report warns that it’s even worse than what you think.

Having surveyed 1,377 employers, the committee found that while the difference between the median pay men and women earn stands at 18%, that this figure could jump to 40% in some sectors. Moreover, 78% reported a significant gender pay gap in favour of men.

In response, the committee recommends that all organisations with over 50 employees must publish annual gender pay gap data from 2020. It also proposed that company CEOs should have stretching targets and be accountable to deliver them.

Considering the magnitude of the pay gap it seems like such recommendations might come in handy to tackle the issue.

People are less afraid of job-stealing robots

Whether you’re excited about new tech or not, it’s still understandable that some sectors may fear the rise of the machines, especially if they’ll steal their jobs. Surprisingly, we learned this week that fewer workers search online about the risk of robots stealing their jobs.

Are these the weirdest ways to keep staff engaged during meetings ever?

From surfboarding to porn studios, we looked into the most bizarre ways SMEs fight sinking productivity levels during meetings.

Why British SME retailers are thriving overseas

While stores on the high street may be struggling, SME retailers have nearly doubled international transfers in the last year.

What infuriates employees at the workplace

From jammed printers to rotten food, new research revealed this week the things that grinds people’s gears in the office. Avoid them at all costs.

The benefits and issues predictive technology

Startups have developed tech that can accurately predict the future. The question is if this is a good or bad thing.

Did Xero UK's co-founder invent digital shoplifting?

This week we published our interview with Gary Turner. As a lifetime technology enthusiast and champion of SMEs, he was the perfect pick to spearhead the growth of Xero UK. Although, when we sat down with him he revealed that he may have indulged in some low-level recreational hacking in his youth.

About the Author

Yoana Cholteeva

Yoana Cholteeva

With a pure interest in business and entrepreneurship, Yoana has recently joined the Elite team for another challenge. Out of work, a keen traveller, explorer, and a huge fan of art, she is striving to broaden her ideological horizons while indulging into her passion for storytelling.


Proud Partners

Strategic Media Partners

Event Media Partners