Apple under John Ternus: Elon Musk targets Cursor at $60 billion

John Ternus at the Helm of Apple: A New Era Awaits

John Ternus is set to take the reins of Apple in September, succeeding Tim Cook. He inherits one of the strongest companies in the tech sector, but enters an ecosystem very different from the one Cook has shaped for decades. This leadership change comes as Apple faces significant challenges, including increasing pressure on the 30% App Store commission. Developers are questioning the power Apple wields over them, while so-called vibe-coded apps are transforming the way development occurs on the platform.

In this episode of TechCrunch's Equity podcast, hosts Kirsten Korosec, Anthony Ha, and Sean O’Kane analyze what this transition means for startups.

Elon Musk and the Acquisition of Cursor

In the tech business world, Elon Musk, through SpaceX, is contemplating a major acquisition. He plans to buy Cursor for the staggering sum of $60 billion. This deal also includes a $10 billion breakup fee, underscoring the strategic importance of this transaction for Musk, especially following the merger with xAI. SpaceX's option on Cursor reveals key aspects of Elon Musk's AI strategy.

The Stakes Surrounding Anthropic and Amazon

Meanwhile, a $5 billion contract between Amazon and Anthropic is drawing attention. This partnership echoes other similar initiatives in the realm of circular AI infrastructure, raising questions about the security and marketing of Anthropic's Mythos model.

IPOs and Market Outlook

Finally, the public market plans of fintech Revolut and AI chip startup Cerebras raise questions. These initiatives lead us to wonder if 2023 will truly be the year of the IPO market reopening after a period of stagnation.

For more analysis and discussions on these topics, follow the Equity podcast on YouTube, Apple Podcasts, Overcast, Spotify, and all podcast platforms. You can also keep up with their updates on X and Threads, at @EquityPod.