Peter Thiel renews Apple criticism: ‘Nothing new after Steve Jobs’

PayPal co-founder Peter Thiel has reiterated his view that Apple Inc. has produced no meaningful innovation since the death of co-founder Steve Jobs in 2011. Thiel made these remarks during an interview with author Walter Isaacson for The Builder’s podcast, which aired earlier this week. He characterized the smartphone as a major invention that required little subsequent technological advancement, stating that Apple’s efforts over the past 15 years have focused primarily on scaling the product, building its brand, and extending its business ecosystem. In the interview, Thiel identified the iPhone, launched in 2007, as one of Apple’s greatest breakthroughs. He argued that because the device was so significant, there was little left to revolutionize afterward. “In my telling, it did nothing new after Jobs,” Thiel stated. He suggested that the company lost its strategic direction following Jobs’ passing. Thiel also compared leadership impacts, asserting that figures such as Elon Musk and Steve Jobs have benefited society more than current Apple Chief Executive Officer Tim Cook. These comments align with Thiel’s previous assertions. In 2017, he declared that Apple’s era of dominance was ending, predicting that breakthrough innovation would become increasingly difficult for the firm. Despite these pessimistic forecasts, Apple has grown into one of the world’s most valuable corporations. Its share price has posted substantial gains over the years, even during periods of broader market volatility. Recently, Apple introduced its first foldable smartphone, the iPhone Duo, marking a notable shift in its hardware lineup after nearly two decades. Thiel’s critique arrives as Apple faces increased scrutiny regarding its artificial intelligence strategy. The company is working to enhance Siri and expand its AI capabilities while competing against rivals such as OpenAI and Anthropic. Critics have questioned the pace of Apple’s AI rollout and its ability to deliver advanced generative AI features, areas where competitors have moved aggressively in recent years. Market attention now turns to Apple’s upcoming quarterly earnings report. Investors expect the data to offer insights into the company’s hardware performance, AI investments, and overall growth strategy. The release will test the validity of Thiel’s skepticism against the company’s actual financial trajectory. This period highlights the continuing debate over whether transformative innovation or consistent execution serves as the primary metric for measuring the success of technology giants.