Business
Apple at 50: How a garage startup became a $3.5-trillion titan
Fifty years ago, Steve Wozniak knew he built a great personal computer, but the young engineer couldn’t convince his employer, Hewlett-Packard, to buy into the big idea.
“Five times they turned me down for the personal computer. I wanted Hewlett-Packard to do it. I loved my company, but now Steve Jobs and I had to go into business,” Wozniak told The Times.
Wozniak and Jobs, both in their 20s, co-founded Apple with Ron Wayne on April 1, 1976.
Back then, personal computers were very expensive and rare. Apple would go on to revolutionize the tech industry, creating innovative, intuitive and beautiful gadgets billions of people would buy again and again.
Apple Inc.’s then-CEO Steve Jobs speaks in front of an early image of himself and Steve Wozniak during an Apple event on Jan. 27, 2010, in San Francisco.
(Justin Sullivan / Getty Images)
Apple, now one of the world’s most valuable and powerful companies, turns 50 this week.
From its humble beginnings when the founders worked out of Jobs’ family garage, Apple has ballooned over the last five decades, opening a sprawling ring-shaped headquarters in Cupertino, Calif., and employing roughly 166,000 workers.
Its market value has surpassed $3.5 trillion, making it the second-largest company in the world after Nvidia. In the fiscal year ending in September, Apple reported revenue of $416 billion and a net income of $112 billion. The company has attracted a large loyal fan base with more than 2.5 billion active Apple devices worldwide.
“Apple is more than just a technology company. It’s really a cultural icon,” said Jacob Bourne, a technology analyst at eMarketer.
By creating well-designed products that blur the lines between work and enjoyment, Apple helped foster an emotional connection to the brand, he said. The company’s strong stance on privacy and security has cultivated trust among legions of its fans who line up at Apple’s retail stores to buy its latest products.
“Every company claims to strive for excellence. It’s just a trope. But, man, you go inside Apple and talk to these people, and it’s almost a mania. It’s intense to work at Apple. A lot is expected of you,” said David Pogue, a journalist and author of “Apple: The First 50 Years.”
This attention to detail is apparent in Apple’s products.
When Apple built a way for people to unlock their devices with their faces, the company tested the technology at Harley-Davidson motorcycle rallies and even hired Hollywood special effects artists to ensure life-like masks couldn’t spoof its facial recognition system, Pogue said.
Pogue’s book, released ahead of Apple’s anniversary, goes through Apple’s long history, chronicling the company’s key players — including Jobs’ leadership style and temper — and the challenges it faced as it rose to the top.
“Apple’s story is an epic tale of frenetic all-nighters and creative rebellion,” he wrote in his book. “Of titanic successes (iPods, iPhones, iPads) and instructive failures (Lisa, Apple III, MobileMe). Of funny, idealistic, scary-smart workaholics — coming up on three generations of them — who want to make things better by making things better. It’s about management, marketing, and strategy — and also about creativity, drive, and obsession.”
Jobs shows an Apple iPhone at the MacWorld Conference in San Francisco on Jan. 9, 2007.
(Paul Sakuma / Associated Press)
Apple went through periods of financial trouble and uncertainty.
In the 1990s, the company laid off a third of its workforce and was days away from bankruptcy before the return of Jobs, who left the company in 1985 after clashing with the board and then-Chief Executive John Sculley.
In 2011, Jobs died of pancreatic cancer at 56, fueling more uncertainty around the company’s future. Apple has faced scrutiny over working conditions at Chinese factories where Apple devices and other electronics are produced.
The company had massive breakout moments of success, including the release of the iPhone in 2007, outpacing rivals such as BlackBerry and sparking the shift to smartphones.
“Apple kept up with it all. Apple was always flexible,” Wozniak said. “Now we’ve got so many different avenues, from the surfaces to other machines and AirPods and all that.”
The secret to the company’s success was it managed its brand well and didn’t make “lousy junk” that breaks down, he said.
The tech giant — which is building a new office complex in Culver City — also expanded its footprint into Hollywood in 2019 with the launch of Apple TV+, the streaming service known for such TV shows as “Severance,” “The Morning Show” and the comedy “Ted Lasso.” In 2022, it became the first streamer to win an Academy Award for best picture for family drama “CODA.”
Apple, known for looking forward, took time to reflect and celebrate its half-century.
Earlier in March, Apple held a surprise concert featuring artist and producer Alicia Keys, who performed at its Grand Central Store in New York.
The company has held celebrations in different parts of the world, showcasing artists in China, Korea, Thailand, the United Kingdom and Mexico as well.
Apple worked with artists to light up the Sydney Opera House in Australia with art designed on the iPad.
Apple Chief Executive Tim Cook with Alicia Keys at a 50th anniversary celebration at Apple Grand Central in New York on March 13.
(Theo Wargo / Getty Images for Apple)
“Through every breakthrough, one idea has guided us — that the world is moved forward by people who think different,” wrote Tim Cook, Apple’s chief executive, in a public letter about the milestone.
It’s not just Apple that’s been celebrating.
In January, RR Auction held an auction to celebrate the anniversary that included rare items such as Jobs’ bedroom desk and bow ties. A 1976 check signed by Jobs and Wozniak before the founding of Apple and an Apple I computer prototype board each sold for more than $2 million, according to the auction’s website.
The Computer History Museum in Mountain View, Calif., has been hosting events and opened a new exhibit to celebrate Apple’s anniversary.
Inside the museum, rare prototypes of Apple products, including its personal computers and smartphones, were on display to showcase the Silicon Valley powerhouse’s long journey. A wooden Apple I case, a clear acrylic Macintosh, a large iPod prototype and other items from Apple’s past fill the room.
Earlier this month, Pogue hosted a sold-out evening event that featured key people in Apple’s history, including its former chief executive Sculley.
Wayne, the Apple co-founder who left the company days after its founding, also made a rare appearance. He departed from Apple early, he said, because he thought it was too financially risky.
“If the whole thing came unglued, Jobs and Woz didn’t have two nickels to rub together, so who are they going to come after? Obviously. And I didn’t feel that I could stand the risk of such a disaster,” he said.
Sculley, who became Apple’s chief executive in 1983 and held the position for a decade, was initially reluctant to leave PepsiCo, but Jobs eventually persuaded him.
“He said, ‘Do you want to sell sugar water for the rest of your life, or do you want to come with me and change the world?’” Sculley said on stage.
Today, the world is very different, and technology has evolved.
The rise of artificial intelligence that can generate text and images has prompted anxiety about the future. And it’s spurring the creation of hardware such as smartglasses and robots.
But AI can also create problems such as “deepfakes” that make it seem like a person is saying something or doing something they’re not, Wozniak noted.
People spend a lot of time scrolling through videos on social media, addicted to their phones instead of interacting with their friends and family.
“The world is run by people who want to sell things,” Wozniak said. “They’re not going to let us get away from that.”
Apple is also contending with the AI race and is seen to be trailing. Its shares rose more than 55% over the last three years but the broader Nasdaq Composite index rose more than 75% and it ceded its throne as the world’s largest company by market value to Nvidia.
Meanwhile, there are questions swirling around when Cook, 65, will retire.
For now, Apple appears positioned well, analysts said.
“I see Apple being able to weather the current pressures at least for the foreseeable future,” said Bourne, the eMarketer analyst.
Business
Trader Joe’s expands with two new locations in California
Trader Joe’s plans to open two new stores in California.
The stores will be located in Paso Robles and Anaheim Hills, part of a batch of 10 new nationwide locations the company announced last week.
The additions are part of the company’s growing nationwide expansion.
The popular grocery chain plans to unveil at least 20 locations this year, two of which have already opened their doors, Nakia Rohde, a spokesperson for Trader Joe’s, told The Times.
Trader Joe’s, known for its unique, affordable products and viral tote bags, has undergone rapid growth over the past year, opening 11 new stores in the last two months of 2025.
The Monrovia-based company has been in growth mode since the first store — located in Pasadena — opened in 1967, Rohde said.
“Our goal is always to bring delicious products at great values to as many people and neighborhoods as we can,” Rohde said. “The best way to do that is to open more stores.”
Trader Joe’s announced five new California locations just under a year ago. A store in Costa Mesa opened in December and another Los Angeles location opened in June.
The company’s rapid developments come as grocery stores battle rising inflation, only further complicated by the hike in gas prices.
Some companies have fared better than others. Aldi, a discount grocery chain, plans to add 180 U.S. stores in 2026. Grocery Outlet announced in March that it is closing 36 underperforming stores, including nine in California.
Trader Joe’s is privately held and owned by families who also own a stake in the Aldi supermarket chain, according to its website.
Business
How California Pistachio Farmers Profit From Iran War and Viral Dubai Chocolate Trends
Land area devoted to pistachio growing
Twenty years ago, California farmers bet big on the pistachio. The little green nut was considered niche in the United States, but it was a staple in Iran and the surrounding region.
That gamble has paid off. Demand for pistachios is high as wellness trends draw people to high-fiber, protein-rich foods. They are also a key ingredient of Dubai chocolate, the incredibly popular chocolate bar filled with pistachio cream and kataifi, or shredded phyllo.
Pistachio orchards cover more than 600,000 acres in California, up from 100,000 in 2001. The San Joaquin Valley of California has near-perfect conditions for pistachios, a mix of hot, dry summers and cold, wet winters. The United States is now the world’s largest producer and exporter of pistachios. Iran is second.
Yet more than a month into the war with Iran, ship traffic through the Strait of Hormuz is at historically low levels, which has stymied exports from the region.
The potential removal of a major player in the market is good news for farmers in California, who are likely to get higher prices for their pistachios.
“With this war, it’s going to limit what Iran is able to do, able to ship, to customers in Europe and China,” said Adam Orandi, who farms 1,600 acres of pistachio orchards in the San Joaquin Valley. His father imported saplings from Iran in the 1970s.
For hundreds of years, Iran dominated the market. Pistachios first found their way to California in the 1930s when an American botanist, William E. Whitehouse, brought the nuts back from Iran. Yet only one variety flourished, which was named the “Kerman.”
Pistachio orchards expanded in the 1970s in California, but Iran continued to control the global market until the Iranian hostage crisis of 1979, when students stormed the U.S. Embassy in Tehran and took dozens of Americans hostage.
Various trade embargoes against Iran were imposed and lifted in the following years, but a 241 percent tariff that was put in place in 1986 essentially ended Iran’s reign in the pistachio market in the United States.
Since 2011, the United States has consistently surpassed Iran as the largest exporter of pistachios. Iran has continued to lose market share.
The U.S. leads Iran in pistachio exports
“Production in Iran has been very erratic,” said David Magaña, who analyzes the fresh produce and tree nut industry at Rabobank. “Fifteen years ago, Iran accounted for 40 to 50 percent of global pistachio exports. More recently, Iran’s share has been more like 20 percent.”
The wholesale price of in-shell pistachios — what large manufacturers or retailers pay — has climbed 20 percent in the last 18 months to $4.57 a pound, according to Expana, a market data provider for the agriculture and food industries. In stores, consumers are paying significantly more.
The market is divided into two products: in-shell pistachios, which are sold whole and often roasted, and pistachio “kernels,” the seeds that are used in food production. The explosion of interest in pistachios as an ingredient in desserts and other foods has sharply increased demand for the kernels.
“For years, pistachios were a one-trick pony. They were a salty snack,” Mr. Orandi said. Just a few years ago, he added, he “couldn’t give the kernels away.”
In recent years, California growers have devoted more acreage to pistachios, and the state produced a record 1.6 billion pounds last year. American Pistachio Growers, a trade association, projected that California trees will bear more than two billion pounds of pistachios by 2031.
Pistachio imports have shot up worldwide
But there is one thing standing between the farmers and those projections: California’s water regulations, which people in the industry said may restrict the ability of some orchards to expand.
Pistachios, like other tree nuts, require large amounts of water. The amount needed by an acre of pistachio trees for an optimal crop yield depends on a number of factors, including soil salinity and the age of the trees.
On average, one acre of pistachios consumes over one million gallons of water in a year — slightly less than almonds and walnuts, according to estimates from University of California Agriculture and Natural Resources. For areas in California prone to droughts, the pistachio boom could add stress to the state’s already thin water resources.
The vast majority of pistachios in California — in addition to other nuts and crops — grow in areas classified as of “extremely high” water stress as defined by the World Resources Institute, an environmental research firm. Compared to two decades ago, the amount of water used annually for pistachios in these areas is now tens of billions more gallons than before.
Difference in water use in pistachio-growing regions between 2007 and 2025
Still, there may be benefits to pistachios emerging as a major nut crop of the state, according to Josué Medellín-Azuara, a water resources researcher and professor of environmental engineering at University of California, Merced. They are more tolerant to drought and water salinity compared to walnuts and almonds, and they are consistently a high value crop, he said.
The profitability of these water-intensive crops creates a paradox for the farmers planting them, said Rich Pauloo, a hydrologist. “They consume more water, but you get more money per drop of water.”
Business
Barbie brand takes another hit with festival flop
Jacqueline Kerr arrived to a Florida convention center Friday, suitcases stuffed with intricate, hand-made costumes — pink sequined ball gowns, a leopard bodysuit and an all-white rhinestone cowgirl ensemble — all paying homage to classic Barbie looks.
None of them made it out of her suitcase.
Kerr and her best friend had spent hundreds of dollars preparing for Barbie Dream Fest, a three-day event that organizers touted as a chance for fans to “live the dream life.”
But when Kerr arrived Friday, it felt more like a nightmare.
“I was so excited to have an event where I could finally put on my most Barbie-esque outfits and have an excuse to wear them without looking like a fool,” the 32-year-old from Florida said. “We were so disillusioned after that first day.”
Hundreds of posts from angry attendees flooded social media sites this weekend, many of whom said the event was a far cry from what was advertised. The event was organized by Mischief Management in Fort Lauderdale, Fla.
Tickets for adults were hefty, ranging from $69 for a day pass to $449 for a 3-day VIP experience. Kerr and her friend purchased a pass that cost $249 per person and included a swag bag that she never received, she said.
Mischief Management confirmed to The Times that the company is issuing full refunds to all ticket holders. Kerr was told the refund would process in three to four weeks.
The event was meant to be an intimate fan convention designed to offer fans closer access to the Barbie universe, a spokesperson for the company said.
“We appreciate the passion and engagement from the Barbie community,” said a spokesperson from Mischief Management. “Bringing fans together — alongside Barbie role models, designers, partners, and global icons who embody the true spirit of Barbie — was at the heart of this event.”
The event comes during a tough time for the Barbie brand. The doll, one of the most popular toys in Mattel’s inventory, has struggled to garner sales, despite gaining momentum in 2023, when the “Barbie” movie had widespread success.
Mattel’s shares plummeted in February after the company announced weak holiday season sales, with Barbie products taking a big hit. The company recently announced it’s laying off 65 employees in May, and let go of 89 other workers in January.
The Barbie brand was licensed by Mischief Management, a spokesperson for Mattel said.
“We want every fan experience to be an excellent one,” the spokesperson said.
The event sold ticket-holders a big dream, including an ’80s-themed neon roller-skating party, an interactive Barbie Dream House, a bicycle course and a free glam bar. The schedule also boasted a star-studded lineup of speakers, including Serena Williams and Angel Reese.
But that dream fell flat, attendees said.
Instead, eventgoers roamed a largely empty convention center with bare concrete walls void of pink and glitter. A small, makeshift rink sectioned off by barricades was stationed in the corner, and the glam bar was closed down by the second day of the event. The bicycle course featured four small bikes with training wheels, only suitable for young children.
Kerr and her friend worked their way through the convention in less than 45 minutes on Friday, she said.
Williams, Reese and other celebrities did hold speaking events over the weekend, though the audience was mostly empty, Kerr said. The Mattel designers responsible for making Barbie also spoke at the convention.
The schedule promoted a free glam bar, which wasn’t staffed for most of the weekend, said Brielle Cenci, a vendor who paid several thousand dollars to have a booth.
Cenci owns a company that sells mermaid clip-on hair extensions and flew in from New Jersey. The event felt poorly organized and vendors received little communication ahead of the convention that only dwindled as the weekend went on, she said.
Vendors expected the convention to be packed with thousands of people, but Cenci said she saw only about 100 attendees a day.
“It felt like a farmers market,” Cenci said. “It was a ghost town. It felt awkward for the people attending, because it was so silent and empty… We were just as in the dark about the event as the attendees were.”
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