00:00Bloomberg's Mark Gurman, who leads our coverage of Apple, broke this story Friday, but I want to recap it.
00:05This is just reprioritizing, right, Mark? What are the details of the report you put out?
00:11Yeah, so Apple's cutting jobs in three central areas.
00:15One team is the Vision Pro team, so the group called VPG responsible for the headset.
00:20The second is Siri, and the third is a team called Intelligent Systems Experiences,
00:25which really comes down to integrating AI features through the operating system and services.
00:31So let me start with the Vision Pro.
00:32This is more of your traditional layoff where they're cutting teams and scaling back things in this particular area.
00:40So they had a team working on gaming initiatives for the Vision Pro.
00:44That team has been completely dismantled and laid off.
00:48The second is their immersive video group.
00:50This is the team making virtual reality videos for the Vision Pro, one of the top selling points.
00:55They're scaling that back.
00:57They're cutting jobs there.
00:58They're cutting investments there.
00:59And they are going to drastically reduce the number of videos they produce in-house for the Vision Pro,
01:04instead pushing that off to third parties.
01:06For Siri and the Intelligent Systems Experience team, that's part of the software engineering organization,
01:12they're cutting jobs there as well to open up roles for people who can work on the new underlying infrastructure
01:19for Siri AI.
01:20So looking to develop faster, looking to bring in talent that is more specific towards that new infrastructure for that
01:27new voice assistant
01:27and their upgraded Apple intelligence, which launches this fall for the first time.
01:33I also really enjoyed this weekend's Power On.
01:35What you were writing about is the idea of Apple's foldable phone and how this product could bring some magic
01:42back to the Apple story.
01:44You've been pulling on your experience with Samsung's foldable.
01:47You've been thinking about what you know of the details of the Apple foldable.
01:51What can you tell us?
01:53Yeah, I mean, I'm pretty pumped for the foldable phone.
01:55I think it's going to do particularly well for Apple in China as a status symbol.
02:00You know, the amount of people who use foldable phones globally is not high.
02:04It's about one and a half percent of the global phone market is foldable phones.
02:09But it's actually double that in China, right?
02:12So the vast majority of foldable phones in use in the world are in China.
02:15So that's going to be pretty successful for Apple there, I believe.
02:18But I'm really into the size of it.
02:20I'm really into how you have this small thing that can fit in your pocket and you open it up
02:24and it's about the size of an iPad mini.
02:26So all in all, pretty pumped for this new device and looking forward to getting my hands on it in
02:31just a few weeks.
02:33Every Sunday, Mark publishes Power On.
02:35I really recommend you subscribe and read it packed full of detail.
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