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Answers From Steve Jobs at Apple's Shareholder Meeting

DECS writes "At today's Apple annual shareholder meeting, a series of proposals were presented for voting after which CEO Steve Jobs answered a series of questions from the audience. Jobs talked about Greenpeace, stock options, the iPhone, Mac OS X Leopard, and .Mac."

49 of 162 comments (clear)

  1. LOL by Anonymous Coward · · Score: 4, Funny

    From TFA: "I wish it was just a matter of writing checks. If it was just a matter of spending money, Microsoft would deliver good products." Truer words have never been spoken. Also the oblig: In Soviet Russia, money spends Microsoft!

  2. 'prompting Jobs to pull an iPhone out of his front by larry+bagina · · Score: 5, Insightful

    If he pulled it out of his front pocket (Jobs wears jeans), perhaps it's not prone to scratching or easily breakable. Maybe they learned something.

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  3. Anyone notice a change in Jobs? by falcon5768 · · Score: 5, Interesting
    Like he's a new man all of a sudden? I mean yeah he had that cancer scare a year or two back, but like his attitude has changed. Its like he's not the same Jobs who stormed off MSNBC or CNN, or the same Jobs that people stayed away from when getting into elevators, cause you didnt know if you would have a job coming out of it.

    He's almost jovial all of a sudden. Its frightening.

    Nice of him to finally clear the air on the stock scandal and get the whole facts out there. Knowing the whole story now it really does look like what analysts where saying, a whole lot of nothing. Why the feds think they need to go after Apple of all companies when there a MUCH bigger fish to fry (*cough* hello big oil shutting down refineries for maintenance right after coming off of maintenance cycles to decrease production) who knows.

    Also nice of him to again point out how stupid Greenpeace is. I quite enjoyed the maybe you should hire a few engineers so you can understand what the hell your talking about remark.

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    1. Re:Anyone notice a change in Jobs? by Anonymous Coward · · Score: 5, Interesting

      Back in college when I was studying metallugical engineering, I tried to get involved with a couple of those organizations, not greenpeace specifically. But they were insane from the bottom up. I couldn't pass the idological litmus test, which pretty much involve calling day night. It a lot of ways they're the new religion.

    2. Re:Anyone notice a change in Jobs? by catdevnull · · Score: 4, Insightful
      --

      I might know what I'm talkin' about, but then again, this is Slashdot...
    3. Re:Anyone notice a change in Jobs? by Nefarious+Wheel · · Score: 5, Interesting
      He's never come across as clueless or insensitive to me, just very very focused. I remember in the early days of Apple he walked in to the Bandley 2 computer room (open fishbowl, secured by people knowing not to bother the ops) wearing T-shirt, jeans & sandals and started playing with the switches on one of the front panels of "Junior", the 11/70 we used for development.

      Tim Fischer, the op at the time, threw him out. "Do you know who I am?" he said -- Tim responded "I don't care if you're f***ing Steve Jobs, get out of my computer room". Steve left and I believe TIm got a pay rise out of it, although he was a bit shook when he told me.

      RSTS-E/Basic Plus -- everything you needed but address space...

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    4. Re:Anyone notice a change in Jobs? by neoform · · Score: 3, Insightful

      Erm.. he's been a billionaire for a long time.. do you really think another 600mil is gonna make him walk on sunshine?

      --
      MABASPLOOM!
    5. Re:Anyone notice a change in Jobs? by Short+Circuit · · Score: 2, Insightful

      Knowing the whole story now it really does look like Uh, you've heard his side of the story. What other side have you heard, that you might reasonably claim to heard the whole thing?

      It's not that I don't like Jobs and Apple; I'd love to get me some of that pearly fruit, if I had the money. It's just that I don't take what individual people say as the whole story.
    6. Re:Anyone notice a change in Jobs? by Korin43 · · Score: 4, Funny

      Who needs billions when you can have MILLIONS?

    7. Re:Anyone notice a change in Jobs? by that+this+is+not+und · · Score: 2, Interesting

      Back then 'PeeCees' weren't used to develop their own software. The software was always cross-compiled/assembled on bigger machines.

    8. Re:Anyone notice a change in Jobs? by falcon5768 · · Score: 2, Insightful
      Well up till now all we have heard is analysts, who have said everything from there was nothing wrong, to its a boodbath and Apple's going under.

      Both the FTC and Apple have been quiet since they where told not to talk about it.

      The fact that Jobs has finally said the nature of the stock options issue, that it dealt with the fact that Apple's stock has been going up and up and within the days time between being awarded and actually getting the stock, its price increased, leads you to believe thats it, they are talking about it now which makes it a non-issue.

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    9. Re:Anyone notice a change in Jobs? by UnknowingFool · · Score: 2, Informative

      Dude--he made $646.6 MILLION dollars last year

      Technically he received $646.6 million in stock compensation which really is not the same thing. As stock, their value isn't realized until he cashes out which he has not done yet. If Apple stock splits and doubles in the next year (which it has done in the last 2 years), that stock will be worth $1.2 billion if he ever cashes out.

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    10. Re:Anyone notice a change in Jobs? by tm2b · · Score: 4, Insightful

      Everybody else is focusing on his compensation, but I think it's a lot more - at his level of wealth, money is more an abstract way of keeping score than anything tangible. It's not like you can live in two homes, eat two meals, or sleep in two beds at once.

      Instead, consider this. For decades, he's had to live with the internal certainty that he was right, that computers should be designed according to his philosophy, but that that dastardly Bill Gates stole the ideas that Jobs brought to market and proceeded to dominate the computing market. Meanwhile politics at Apple pushed him out, making him sit on the sidelines building NeXT. Years ran into decades of watching somebody who he thought committed the highest crime of having no taste eat the lunch that he believed should have been his.

      Now, finally, he's on top of the world. He's brought his vision to the world of portable music, and the world has smiled and said that it is good - and that Microsoft's attempts to enter that market are, well, not so good. The innovative animation studio he nurtured through a vision of the highest quality instead of quantity, has been given the highest compliment possible (in being purchased at a very high price) by Disney, the keepers of the legacy of the oringal wave of animation innovation. On top of that, he's poised to bring that vision to an even larger market.

      Love him or hate him, but he's got every reason in the world to be happy. Money's nice, but bringing your vision to fruition and having it succeed, and having the world sit up and take notice - that's priceless. And I think that there's every indication that this is what really drives the man.

      --
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  4. Jobs on his salary: by earthbound+kid · · Score: 4, Interesting
    1. Re:Jobs on his salary: by Anonymous Coward · · Score: 2, Insightful

      'I make fifty cents just for showing up, and the other 50 cents is based on my performance.'
      He's a marketing genius, no doubt about that. He is the highest paid executive in the US, and still manages to get focus on his 1$ salary PR stunt.
    2. Re:Jobs on his salary: by dr.badass · · Score: 3, Informative

      He is the highest paid executive in the US, and still manages to get focus on his 1$ salary PR stunt.

      Highest paid in 2006. He doesn't have huge stock option grants vesting every year. From the Forbes profile you linked to is very telling:

      Total Compensation (2006)
      $646.60 mil

      5-Year Compensation Total
      $650.17 mil

      In other words, over 99% of his compensation for the past five years came from last year alone. During that time AAPL went from about $12 to over $100.

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    3. Re:Jobs on his salary: by GaryPatterson · · Score: 2, Interesting

      He may be a marketing genius, but he's also brought Apple from insignificance to centre-stage prominence, and the share prices reflect that.

      I argue that all executives above a certain level should be on $1/year salary, with other money coming in based purely on performance. If the alternative (the current state) is huge bonuses on top of already huge salaries when the company is tanking and workers are getting shafted, then it'd be an improvement. It should also make executives focus on longer term success for a company.

      Having said all that, the amount he was given by the board is excessively high.

  5. Comment removed by account_deleted · · Score: 4, Funny

    Comment removed based on user account deletion

  6. Can Apple to hire him for less than $7.50/hr? by NotQuiteReal · · Score: 2, Funny
    I thought the CA minimum wage was $7.50 an hour.

    Maybe Mr. Jobs only "works" 10 minutes a year or so...

    --
    This issue is a bit more complicated than you think.
    1. Re:Can Apple to hire him for less than $7.50/hr? by Billy+the+Impaler · · Score: 5, Informative

      I thought the CA minimum wage was $7.50 an hour. The minimum wage applies to hourly workers. Salaried workers are free to negotiate any contract they wish so long as it plays by the other rules.
  7. Re:Green Mfg by hardburn · · Score: 5, Insightful

    Great idea. Hold up Dell and HP for what they plan to do, while villifying Apple for already doing those things years ago.

    The environment is an incredibly important issue that doesn't deserve the nitwits at Greenpeace.

    --
    Not a typewriter
  8. "iPhone out in June" by vertigoCiel · · Score: 2, Insightful

    He says it'll be released on time, but he said the same thing about the Apple TV a few weeks before they announced it would be delayed.

  9. Re:Cryptic Jobs by StreetStealth · · Score: 3, Funny

    I'm guessing it's something to do with Leopard.

    --
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  10. Re:'prompting Jobs to pull an iPhone out of his fr by LynnwoodRooster · · Score: 2, Funny
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  11. Re:/. has been by ktappe · · Score: 3, Insightful

    The reality is that Apple and Google are the companies making the innovative, neat new products these days that we're having fun playing with. You can either accept that and have fun with the rest of us or be grumpy and effectively yell "hey you kids, get out of my yard!" I feel sorry for you if you continue to choose the latter course of action.

    --
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  12. roughlydrafted.com article == blog entry? by vic-traill · · Score: 2, Insightful

    I'm not an OS X guy, so I don't follow or know my Mac-related sites. Anyway I follow the link, and I'm reading along, and in the second Greenpeace-related paragraph I encounter:

    encouraging user donations to Greenpeace to somehow solve that issue.

    My BullshitDetectorReadingOpinion(submission) returns a mild buzz. Next line:

    After attempting to take credit for Apple's announcements (referring to the G.P. rep)

    sends me off on a bit of surfing of roughlydrafted.com, and googling of same said, which leads me to the conclusion that roughlydrafted.com is Daniel Eran's pulpit. Some of the 'articles' are fine and interesting, but that's not my point.

    A few weeks back someone defined the difference between digg and /. as that the former is a blog aggregator+comments and the latter is a news aggregator+comments.This captures the difference for me, and makes me wonder about the submission a bit.

    I suppose this is why we have arguments on /. as to whether bloggers are journalists http://politics.slashdot.org/article.pl?sid=07/04/ 07/0428225.

    I do admit that Mr. Eran is pretty up-front with his bias, so you know where he stands while you're reading him.

    --
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    1. Re:roughlydrafted.com article == blog entry? by Anonymous Coward · · Score: 5, Informative

      RoughlyDrafted.com is pro-Apple. However, the lines that got your BS-detector buzzing are false positive. They are not BS. Google News around and you'll find out that Greenpeace indeed took credit for Apple's announcement. Not only did they take credit, they lied about what the credit was for. What Jobs said was Apple would change their policy regarding communicating their existing plans and achievements. Greenpeace pretended that Apple would change their plans to be greener and took credit for it. Greenpeace is a bunch of scums who capitalize on people's concern for the environment. Avoid Greenpeace, help other environmental groups.

    2. Re:roughlydrafted.com article == blog entry? by base2_celtic · · Score: 3, Insightful

      Eran is in a tough position. He has a fervent dislike of biased journalism. He also has a known interest in (and love of) many Apple products. This makes it difficult for him to write on these topics, and still appear detatched.

      He's passionate, certainly. Angry at some Microsoft shills? Obviously. Biased? No, I don't think so. The reason I think that way is because of the way he puts his influences and beliefs up front. He doesn't hide them. He doesn't pretend they exist. He references constantly, and provides reasoned arguments to back up any claims he makes.

      He's not right all the time, but he's right a whole lot more (for my money) than almost any other person writing about Apple today. I trust what he has to say because of the way he says it, and the evidence he brings to bear. I also trust him because of his track record of making big predictions that get proved right.

      Disclaimer: I use and prefer Mac OS X as an operating system, and write OS X games.

      --
      Using the holy grail of OSes...
    3. Re:roughlydrafted.com article == blog entry? by Whiney+Mac+Fanboy · · Score: 2, Informative
      I completely agree with your post apart from the sentence

      Hes a complete and utter Apple shill,
      I find it hard to believe that Apple would pay someone to write a blog as stupid & irritating as Roughly Drafted. Their money's better spent on more subtle shillery.
      --
      There are shills on slashdot. Apparently, I'm one of them.
  13. Greenpeace by Grindalf · · Score: 2, Insightful

    I think Greenpeace's Science - particularly with respect to greenhouse effect solutions is muddled - like the scientists don't have steering control. It would be cool if some one who's a expert and who's used to dealing with politicians (i.e who posesses a stron persona) examined exactly where they are headed and corrected that for them as it destroys their cause.

    --
    The purpose of existence is to make money.
    1. Re:Greenpeace by aquila78 · · Score: 2, Insightful

      I think there is a definite need for the Greenpeace campaign. I think what we really need to address the environmental issues concerning chemical waste and recycling policies, is informed choices. That means that the information comes from a trusted an unbiased source. Greenpeace undermines it position as such by running an uninformed campaign. That's sad, cause Greenpeace are one of the only entities which can pull a campaign with some impact of. I think greenpeace should take Job's advice: Hire experts and get the facts right. This way their campaign will have a lot more impact. Even though the Apple affair was a bit of a FUD-filled the need for the campaign is still there. They have got peoples attention, I hope they will use that attention constructively. Besides pressuring PC manufacturers I think that Greenpeace should push for legislation.

  14. Re:do something with the cash! by Paradise+Pete · · Score: 3, Insightful
    do something please! Any fool can put money in the bank. At least convert it to Euros or something, the dollar is getting weaker!

    What do you think, that they just toss it into a checking account? When a company has "cash" that doesn't mean there are bags of money laying around. Of course it gets invested. And they make a lot of money doing so.

    And your statement about "at least convert it to Euros" is naive. If you really think you can predict currency exchange rates, believe me, you'll be able to afford a lot more than 1,000 shares of AAPL. Currency trading is the biggest market in the world. If you can predict it well you'll have all the money you could ever spend.

  15. Re:What other side...? by Anonymous Coward · · Score: 3, Funny

    Greenpeace's side. We heard from them first. They started this, remember? ("Apple are teh 5uxx0rz! Clean it up already!")

    Then we heard a reply from Apple ("We were already doing that, like 12 years ago, so shaddup.").

    Greenpeace got their response in ("See they changed their policy because of us! We r0x0rz!").

    So we have now heard from both sides.
    And Apple pwned Greenpeace. FTW.

  16. forget about being "slightly better" by nanosquid · · Score: 4, Interesting

    I don't know about Apple's overall corporate standing in terms of environment, and I don't think it matters that much. The fact is: computers are bad for the environment. The best thing you can do for the environment may be not to buy a new computer at all and keep using the old one. And the worst thing for the environment may ultimately be... the power hungry software upgrades that induce people to buy new hardware.

    As for Apple, I wish they'd replace their styrofoam packaging with something recycled and biodegradable. Apple's packaging is like a throwback to the 70's.

    1. Re:forget about being "slightly better" by beelsebob · · Score: 4, Insightful

      As for Apple, I wish they'd replace their styrofoam packaging with something recycled and biodegradable. Apple's packaging is like a throwback to the 70's. Yes and no... I agree, I'd rather see recycled cardboard cartons, but what they use is certainly not a throwback to the 70s... The boxes are only just big enough to fit the item into, and the styrofoam they use usually has large holes cut in it to reduce consumption and weight. Bob

    2. Re:forget about being "slightly better" by That's+Unpossible! · · Score: 3, Insightful

      How does it reduce consumption to cut a large hole into something which was already produced?

      Let's see, what's more likely... produce large, solid block of styrofoam on assembly line, run it through another line to cut all the holes in it.

      OR

      Create the styrofoam in special molds so "the holes" are there from the beginning.

      Jesus I can't believe this has to be explained

      --
      Ironically, the word ironically is often used incorrectly.
  17. Every time this guys talks to someone from Apple by simong · · Score: 2, Funny

    They get their iPhone out

    "Loooook... shiiinyyyy...." *waves in face*

  18. Re:'prompting Jobs to pull an iPhone out of his fr by Pandare · · Score: 2, Funny

    thrown of iPhones

    Thrown of iPhones? I didn't know they let Ballmer into the Apple offices.

  19. Campaigning has cleaned up Ikea too by Oldsmobile · · Score: 2, Interesting

    Even though campaigning like this is often viewed as obnoxious and the author of the article sure seemed to think so, it's motivated several big companies to clean up their act.

    Case in point, Ikea, which is nowadays greener and more ethical than any number of small furniture retailers, even the mom-and-pop operations that probably sell the worst kind of child labour produced rainforest wood furniture there is.

    This due to being vocal about the problems by that company and now it turns out that if you want to be an ethical shopper you have to shop at Ikea.

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  20. Re:We Love You Steve! by gnasher719 · · Score: 3, Insightful

    '' on the environment - no need announce environmental goals as other computer manufacturers are doing because iJobs himself thinks that doing so accomplishes nothing. ''

    And that is so obviously correct, I don't know why you mention it at all.

    Reducing waste helps. Announcing a goal to reduce waste doesn't help.

    What is better in your opinion: Removing PVC from packaging (Apple twelve years ago) or announcing the goal to remove PVC from packaging in the next two years (HP) ? I know what's better in my opinion, and unfortunately we also know what is better according to Greenpeace.

  21. Missing the Innovation by LKM · · Score: 4, Insightful

    Innovative? Uh, let's see - (...) iPhone - not really fair since it isn't out yet, but from what we've heard ... Edge, limited to 4 or 8 GB required storage, touch screen only, mediocre camera. Innovative - not at all (see HTC, Samsung, etc).

    You're obviously utterly missing what's innovative about Apple's stuff. It's not that they have the latest and greatest tech (they often do, but it's not important). The innovative stuff is how they design the user interaction.

    You can get pretty phones from LG. They do more and cost less than the iPhone. The problem is that the UI sucks.

  22. Did he talk about... by djones101 · · Score: 3, Funny

    the iRack and the iRan?

  23. Re:Or maybe... by falcon5768 · · Score: 2, Informative
    No he was. I worked as a Apple Rep back in 00-02, and my boss used to tell me stories about him. People at Apple really WHERE scared of him when he came back as CEO (rather iCEO at the time) While Im sure he wanted that image to get people at Apple doing their best (since he is a well known perfectionist) you dont get that image by petting kitties and buying ice cream for little kids.

    As it was not long after he told me some of the stories, he and 700 other people in the Education branch of Apple where fired for poor job performance and restructuring. While a number got their jobs back in other departments, he was one of the ones let go and not rehired.

    --

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  24. Re:do something with the cash! by MECC · · Score: 2, Interesting



    Well, it has been going up lately, but MS stock outperformed it (click the Max zoom in the upper right hand area of the graph). A much better investment might be copper. I read an article years ago by an economic geologist (haven't found a link to it though) in which it was stated that at current known copper reserves, there isn't enough copper to wire the third world to the same extent the industrialized nations are wired (power and communications). Wireless may change that, but the third world still wants electricity, and China is building 544 new coal power plants in the foreseeable future. That's a lot of copper, and without some kind of gigantic new source, that's likely to mean higher copper prices in the future.

    I'd advise apple to invest in either copper of MS stock.

    --
    "We are all geniuses when we dream"
    - E.M. Cioran
  25. Re:do something with the cash! by UnknowingFool · · Score: 3, Informative
    I take it that you didn't read Apple's Annual report 10-K statement back in December. On pg 60:

    Research and Development (R&D)

    Expenditures for R&D increased 33% or $177 million to $712 million in 2006 compared to $535 million in 2005. The increase was due primarily to an increase in R&D headcount in the current year to support expanded R&D activities, an increase of $46 million in stock-based compensation recognized as R&D expense resulting from the adoption of SFAS No. 123R, and higher overall expenses due to the 14th week added to the first fiscal quarter of 2006 to realign the Company's fiscal quarters with calendar quarters. In addition, during 2005, the Company capitalized approximately $29.7 million of costs associated with the development of Mac OS X Tiger. No software development costs were capitalized during 2006. Further information related to the Company's capitalization of software development costs may be found in Part II, Item 8 of this Form 10-K at Note 1 of Notes to Consolidated Financial Statements. Despite the increase in expenditures, R&D as a percentage of net sales remained relatively flat in 2006 as compared to 2005 due to the significant increase in revenue. The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company's core business strategy. As such, the Company expects to make further investments in R&D to remain competitive.

    On pg 68:

    Capital Expenditures

    The Company's total capital expenditures were $657 million during 2006, consisting of $200 million for retail store facilities and equipment related to the Company's Retail segment, $263 million for real estate acquisitions for the Company's second corporate campus and for a new data center, and $194 million for corporate infrastructure, including information systems enhancements. The Company currently anticipates it will utilize approximately $675 million for capital expenditures during 2007, including approximately $360 million for expansion of the Company's Retail segment, approximately $50 million for real estate acquisitions including the Company's second corporate campus and its new data center, and approximately $265 million to support normal replacement of existing capital assets and enhancements to general information technology infrastructure.

    Stock Repurchase Plan

    In July 1999, the Company's Board of Directors authorized a plan for the Company to repurchase up to $500 million of its common stock. This repurchase plan does not obligate the Company to acquire any specific number of shares or acquire shares over any specified period of time. The Company has repurchased a total of 13.1 million shares at a cost of $217 million under this plan and was authorized to repurchase up to an additional $283 million of its common stock as of September 30, 2006.

    With that in mind, Apple spent $712 million last year in R&D and they increased spending from the previous year. Also they are using the cash apparently to expand the business by acquiring real estate for new stores while upgrading their infrastructure. And they are buying back stock.

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  26. Re:Green Mfg by hardburn · · Score: 2, Insightful

    I agree with the other reply to this post--Greenpeace is worse than nothing. Their raving lunacy makes the oil industry look like the sensible ones. There are ways to promote environmental issues in a calm, reasonable manner, but this has been made nearly impossible, because you'll just get lumped in with Greenpeace.

    As for "it's of course easy to sit on your ass and comment on /. about how stupid Greenpeace is", you don't know me or the projects I've researched and undertaken along these lines.

    --
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  27. Re:Green Mfg by porcupine8 · · Score: 3, Insightful

    I put Greenpeace in the same category as PeTA - pushing their respective movements backwards, because they make everyone think that anyone who cares about the environment (or animals) is as batshit insane as they are. Spending more money on publicity for their crackpot campaigns than on actually helping anyone. Preaching to their little mostly-teenaged choir, not noticing that the masses are backing away slowly, not only from them but from other legitimate groups that just happen to share a few surface features but actually do a lot of good.

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  28. Re:Cryptic Jobs by Blakey+Rat · · Score: 2, Funny

    Read the summary, it's undoubtedly him talking about .mac, specifically iDisk. ;)

  29. Usability is not subjective by LKM · · Score: 3, Insightful

    I hope you're not working in any position where you design user interfaces - although I guess that, unfortunately, many people who do design UIs think like you do. You're wrong, of course. Usability is not subjective. It's measurable.

    I'm not entirely sure you actually mean to say that usability is subjective. You're right when you say that different interfaces make different use cases simple. And yes, there will be cases where other phones are easier to use than the iPhone. But given Apple's track record, I expect the iPhone to be one of the - if not the - easiest to use phones on average.