How does Apple defy the law of large numbers as the company posts ever-increasing iPhone sales?
That’s one of the first questions Apple CEO Tim Cook was asked at today’s Goldman Sachs technology conference. While Apple posted a record 74.5 million iPhone sales last quarter, Cook says he sees no reason why that number can’t keep growing.
“We don’t believe in laws like the law of large numbers,” said Cook. “Steve ingrained in us that putting limits on your thinking are never good. So we’re never focused on the numbers, we’re focused on the things that produce the numbers…. We’re a product company.”
Listing Apple’s top accomplishments of 2014, Cook hit on iOS 8, Yosemite, HealthKit, Swift, iPhone 6, Touch ID on iPad and Mac sales continuing to gain market share.
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
3 responses to “Tim Cook: We don’t believe in the law of large numbers”
THE BEST!!!
The law of large numbers actually has nothing to do with it being more difficult for a number to grow the larger it becomes, but rather what happens when you repeat an experiment a large number of times. I know Warren Buffett also misuses the term which is a real shame because both of those guys are smarter than that.
There is no “Law” of Big Numbers, but there is a “Theory” of Big Numbers.