Peter Thiel criticizes Apple for lack of innovation since Steve Jobs

Peter Thiel told Business Insider on Monday that Apple “has done nothing new” since Steve Jobs, adding that eccentric CEOs like Elon Musk are far better for society than Apple chairman Tim Cook. Thiel made the remarks at a tech conference in San Francisco, where he was asked to rank today’s most influential business leaders.

Thiel’s criticism comes at a time when Apple’s product pipeline is being judged as incremental. The iPhone 15 series, launched in September, introduced only modest camera upgrades and a new color palette, while the Apple Vision Pro, unveiled in June, has struggled to gain traction beyond early adopters. Analysts have noted that Apple’s R&D spend, which topped $27 billion last year, has not translated into breakthrough products that reshape markets the way the iPhone did in 2007. The comments also reflect a broader debate within Silicon Valley about the value of “disruptive” versus “steady” innovation, a conversation Thiel has led for years through his venture fund and public statements.

Thiel, a co‑founder of PayPal and early Facebook investor, praised Musk’s willingness to take big risks with Tesla’s electric‑car rollout and SpaceX’s reusable rockets, saying those moves have tangible societal benefits. He offered no direct response from Cook, and Apple’s spokesperson declined to comment. Market reaction was muted; Apple’s shares closed unchanged after the interview, while some investors on social media echoed Thiel’s view, arguing that Apple’s focus on services and incremental hardware upgrades signals a shift from its once‑radical reputation.

The remarks could sharpen scrutiny of Apple’s upcoming announcements at its June WWDC event, where the company is expected to reveal new software features and possibly a refreshed AR/VR headset. If Apple fails to deliver a clear next‑generation product, Thiel’s critique may fuel investor calls for more daring innovation. Conversely, a strong showing could blunt the narrative that Apple is merely “coasting” on its legacy, reinforcing Tim Cook’s strategy of steady growth and profitability. The debate highlights how influential voices like Thiel’s can shape public perception of tech giants at a moment when the industry is searching for its next breakthrough.