Activist Investors Want Apple To Play Role In Combating Growing Crisis Of Kids’ Smartphone Addictions
Jana Partners LLC and the California State Teachers’ Retirement System control about $2 billion of Apple share, and want Apple to take responsibility for what they see as a public health crisis.
USA Today:
Apple Urged To Do More To Combat iPhone Addiction Among Kids
Apple should do more to curb growing smartphone addiction among children, two major investors in the iPhone maker said Monday. In an open letter to the technology giant, New York-based Jana Partners LLC and the California State Teachers’ Retirement System, highlighted increasing concern about the effects of gadgets and social media on youngsters. (Hjelmgaard, 1/8)
The Wall Street Journal:
iPhones And Children Are A Toxic Pair, Say Two Big Apple Investors
“Apple can play a defining role in signaling to the industry that paying special attention to the health and development of the next generation is both good business and the right thing to do,” the shareholders wrote in the letter, a copy of which was reviewed by The Wall Street Journal. “There is a developing consensus around the world including Silicon Valley that the potential long-term consequences of new technologies need to be factored in at the outset, and no company can outsource that responsibility.” (Benoit, 1/7)
