Technolgy Rules: Tim Cook to Apple staff: $1TR in shareholder value isn’t what drives us

Friday, August 3, 2018

Tim Cook to Apple staff: $1TR in shareholder value isn’t what drives us

How should you feel to know your employer is far, far richer than Croesus?

As Apple CEO Tim Cook tells it — in a memo to staff, obtained by BuzzFeed News, re: yesterday’s news that the computer company Steve Jobs founded back in 1976 is now worth more than $1,000,000,000,000 — you should feel A) pretty stoked that your labor has helped achieve a significant financial milestone but also B) know it’s not a success metric to get hung up about because it’s the passion for innovation and creation (not the towering mounds of gold) that really counts and so C) please, after taking a moment, remember to get back to work.

Here’s what Cook actually wrote to Apple’s global “team” of circa 123,000 employees:

Team,

Today Apple passed a significant milestone. At our closing share price of $207.39, the stock market now values Apple at more than $1 trillion. While we have much to be proud of in this achievement, it’s not the most important measure of our success. 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. I want to thank you from the bottom of my heart for all the late hours and extra trips, all the times you refuse to settle for anything less than excellence in our work together.

Let’s take this moment to thank our customers, our suppliers and business partners, the Apple developer community, our coworkers and all those who came before us at this remarkable company.

Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges — and that the people who are crazy enough to think they can change the world are the ones who do. In today’s world, our mission is more important than ever. Our products not only create moments of surprise and delight, they empower people all around the globe to enrich their lives and the lives of others.

Just as Steve always did in moments like this, we should all look forward to Apple’s bright future and the great work we’ll do together.

Tim