New York Times: In praise of Apple's business model

“A high-priced oasis for the world’s rich.”

From Farhad Manjoo’s How Apple Thrived in a Season of Tech Scandals:

The business world has long been plagued by Apple catastrophists — investors, analysts, rival executives and journalists who look at the world’s most valuable company and proclaim it to be imminently doomed.

The critics’ worry for Apple is understandable, even if their repeated wrongness is a little hilarious. Apple’s two-decade ascent from a near-bankrupt has-been of the personal computer era into the first trillion-dollar corporation has defied every apparent rule in tech.

Companies that make high-priced hardware products aren’t supposed to be as popular, as profitable or as permanent. To a lot of people in tech, Apple’s success can seem like a fluke, and every new hurdle the company has faced — the rise of Android, the death of Steve Jobs, the saturation of the smartphone market, the ascendance of artificial intelligence and cloud software — has looked certain to do it in.

But this year, as it begins to roll out a new set of iPhones, the story line surrounding Apple has improbably shifted. In an era of growing skepticism about the tech industry’s impact on society, Apple’s business model is turning out to be its most lasting advantage…

My take: What Manjoo says.

Inequality is the story of our age, and it’s no surprise that it could become the dominant story line of tech, too. As the digital world gets scarier, Apple’s technology may come to resemble a high-priced oasis for the world’s rich. Everyone else takes their chances on a free lunch.