Peter Kafka

Recent Posts by Peter Kafka

Apple Shares Bounce Back

Apple says that things will run smoothly under new CEO Tim Cook. And after some reflection, Wall Street might agree. Apple shares are trading around $370, a little less than two percent below yesterday’s close — which was a few hours before Apple announced that Steve Jobs was giving up the top job at the company he co-founded. Which means they’ve actually improved since last night, when shares had dropped more than five percent in after-market trading.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work