CEO Tim Cook blasted Silicon Valley technology companies and their abuse of user privacy. Tim gave the keynote address at a privacy conference in Brussels Wednesday.
Facebook and Google make most of their money from advertising.
* Personal information is being weaponized against us with military efficiency.
* Every day, billions of dollars change hands, and countless decisions are made, on the basis of our likes and dislikes, our friends and families, our relationships and conversations. Our wishes and fears, our hopes and dreams
* scraps of data, each one harmless enough on its own, are carefully assembled, synthesized, traded, and sold
Apple is mostly hardware and mobile application revenue
Apple makes most of its money from smartphone and mobile application sales. In the third quarter of 2018, Apple generated 56.15 percent of its revenue from iPhone sales.
Apple third-quarter revenue was $53.3 billion, an increase of 17 percent from the year-ago quarter. They had $11.5 billion in net income.
Facebook and Google are advertising revenue
Revenue at Google’s parent company rose 25% during the second quarter of 2018, compared with the same period last year. It generated $26.24 billion.
Advertising was 86% of Alphabet’s revenue during the second quarter. Google’s other revenues, including cloud services, hardware, and app sales, grew a solid 37% to $4.4 billion over the same quarter a year earlier.
Facebook reported $11.97 billion in revenue and $4.98 billion in profit for the first quarter of 2018. Mobile advertising revenue was 91% of its ad revenue. Facebook revenue is almost all advertising and almost Facebook revenue is mobile ads.