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1

MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly

2

After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history

3

Current price of silver as of Tuesday, July 14, 2026
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Why Apple’s CEO went to Obama’s cybersecurity summit

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Philip Elmer-DeWitt
Philip Elmer-DeWitt
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By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
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February 13, 2015, 11:53 AM ET
Global Leaders Attend NYC Climate Week Event
NEW YORK, NY - SEPTEMBER 22: Tim Cook, president and CEO of Apple, Inc., discusses the interaction between business and climate with Christina Figueres (not seen), the Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCC), during a New York City Climate Week event at the Morgan Library on September 22, 2014 in New York City. Leaders from all over the world will meet to discuss global warming and evironmental issues ahead of the U.N. summit. (Photo by Michael Graae/Getty Images)Photograph by Michael Graae — Getty Images
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Why did Apple agree to send its CEO to Friday’s White House conference on cybersecurity — headlined by the President himself — but not Google, Facebook and Yahoo?

The four horsemen of the Internet all find themselves at loggerheads with the Obama Administration over privacy and security. Apple, perhaps, even more so. According to FBI director James Comey, Apple’s decision, with iOS 8, to encrypt all its devices by default, “will have very serious consequences for law enforcement and national security agencies at all levels.”

But Apple’s business model makes it different from those other three companies. Because Apple makes most of its money selling devices, not advertising, it can afford to take the high road.

“When an online service is free,” Cook wrote last fall in a preamble to Apple’s privacy white paper, “you’re not the customer. You’re the product.” (Cue Google chairman Eric Schmidt’s tight-lipped retort.)

Now Apple is upping the ante. It’s trying to turn cybersecurity — Apple Pay, TouchID, powerful encryption, two-step verification — into a marketing tool, another moat it can use to protect ASPs double and triple its competitors’.

It’s a strategy that worked for BlackBerry. It kept them relevant — even in the White House — long after their technology had been eclipsed.

Follow Philip Elmer-DeWitt on Twitter at @philiped. Read his Apple AAPL coverage at fortune.com/ped or subscribe via his RSS feed.

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