The CultCast CultCast #319 - How Apple’s going to spend its MASSIVE fortune 💰🎉
Jan 19, 2018
57:11
This week: Tim Cook is THRILLED with the US’ new tax overhaul, and has some exciting plans to spend Apple’s massive fortune. Plus: forget other smart speakers—we’re tell you why we’re now even more excited for HomePod. And stick around for our favorite movies, shows, and sausages in an all-new very weird What We’re Into!
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On the show this week
You’ll soon be able to disable Apple’s iPhone throttling feature
- Tim Cook has revealed that a future iOS 11 update will let users disable the feature that was causing their iPhone to throttle performance.
- He says that this forthcoming update will give users the option to disable performance throttling if they would rather be at risk of unexpected shutdowns but maintain full CPU and GPU performance.
Apple says it will add $350 billion to U.S. economy
- Apple’s big tax break is about to unleash an big beautiful avalanche of spending from the iPhone-maker.
- In its last earnings report, Apple said it held $252 billion in cash overseas. It appears, given the new corporate tax rate of 15.5 percent, that it is returning a majority of this to the United States. This low rate is a one-time deal for corporations to repatriate their overseas cash hordes
- Apple revealed its plans to contribute $350 billion to the U.S. economy over the next five years now that the fee for repatriating its mountain of overseas cash has been significantly lowered.
- Even though construction on Apple’s new spaceship campus just finished, the company says its already looking to build a new one. Plans (including the location) for the third Apple HQ will be revealed later this year. The building will initially house new team specializing in technical support for customers.
- The company also says it plans to increase the size of its advanced manufacturing fund from $1 billion to $5 billion. The fund is used to invest in U.S. manufacturing companies and suppliers.
- Apple says it will add over 20,000 new jobs in the next five years by hiring for new jobs at its existing campuses and the new one. $30 billion will be spent on capital expenditures in the US over next 5 years with $10 billion of that going to data centers.
- With the new tax law in effect, Apple expects it will only pay $38 billion