Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg criticized Apple Inc. (NASDAQ:AAPL) for its lack of innovation and restrictive policies during a recent Joe Rogan podcast appearance on Saturday, escalating a long-standing rivalry between Silicon Valley’s tech giants.
What Happened: “Steve Jobs invented the iPhone and now they’re just kind of sitting on it 20 years later,” Zuckerberg said, suggesting Apple hasn’t “really invented anything great in a while.” He also claimed Meta’s profits could double without Apple’s “random rules” and 30% App Store commission.
The criticism comes as Apple faces mounting regulatory pressure over its App Store policies. The U.S. Department of Justice is pursuing antitrust action against the iPhone maker, while European Union regulations are forcing changes to its closed ecosystem.
This latest clash follows years of tension between the two companies, dating back to 2014 when Apple CEO Tim Cook first criticized Facebook’s data collection practices. The relationship deteriorated further after the 2018 Cambridge Analytica scandal when Cook publicly stated on MSNBC that he “wouldn’t be in this situation” regarding Facebook’s privacy issues.
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Why It Matters: The conflict intensified in 2021 when Apple introduced privacy features requiring apps to get user permission for tracking, significantly impacting Meta’s advertising revenue. Zuckerberg reportedly told executives that Facebook needed to “inflict pain” on Apple in response, according to the New York Times.
More recently, Zuckerberg questioned the market viability of Apple’s Vision Pro headset during Meta’s first-quarter 2023 earnings call, suggesting consumers would prefer “fashionable AI glasses without a display.”
For investors, this ongoing rivalry highlights fundamental differences in business models: Meta’s advertising-dependent, data-driven approach versus Apple’s hardware-focused, privacy-centric strategy. While Meta’s stock surged on Thursday, reaching $615.01, Apple shares have declined 2.34% to $237.02, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Wikimedia
