Tim: I don't think Apple has to own a content business. We haven't had a problem getting access to content. 30 Million songs, double digit thousand movies, 100,000+ TV episodes. Difficult globally because they have different ownership in different markets
Tim: I think this is an area where partnerships with content producers is better than ownership by Apple
Tim: what we have is great for consumers and owners
Walt: what's going on between you and Facebook?
Tim: Facebook is great...
Walt: but there's no sharing like Twitter in OS X/iOS
Tim: I think our relationship is solid, we can do more
Kara: Steve said they were onerous, are they still onerous?
Tim: they have a way of doing things. People who have strong points of view can appreciate and respect that
Tim: we want to provide simple and elegant ways to do things, Facebook has millions of customers.
Kara: not many things have been purchased by Apple. more acquisitions under the Cook regime?
Tim: we buy companies from time to time. If i don't have to do it publicly I don't want to
Kara: speaking of companies you keep secret, do you see big acquisitions?
Tim: not looking at a big one right now, won't rule it out. Says expressly apple didn't try to buy instagram
Tim: have acquired companies with technologies, synergies with things we're working on. not "wired" to acquire companies for revenue
Walt: you bought Siri, which launched at a D conference
Walt: when it works it works really well. kind of like magic. a lot of times it doesn't work. it says i can't help you. its a beta
Tim: customers love it. its one of the most popular features of iPhone 4S, "which is one of the... the most popular phone in the world i guess"
Tim: we have some cool ideas about what Siri can do.
Tim: I think Siri has proven that voice is something people want to do. Touch came along and voice that understands the context -- voice recognition has been along for a long time -- what makes Siri cool is that it has a personality. I think you'll be pleased with where Siri is going
Tim: is that what you want? (giggles)
Tim: it's not voice recognition, its the AI, understanding what you're saying. This is something people have dreamed about for years
Tim: yes it can be broader, but we see unbelievable potential here. Siri as a feature has moved into the mainstream. It's amazing that this has happened since Octover of last year
Tim: we're doubling down on it
Kara: what do you do all day? what do you see you role as? Do you see yourself as a visionary like Steve?
Tim: Steve was a genius, a visionary. I don't think my role was to replace him. Steve was an original, not another one being made.
Tim: I've never felt the weight of needing to be him. I am who I am, I'm focused on that. Being a great CEO of Apple. It's incredible to work with the smartest, most innovative people on earth
TIm: i spend my day working with them on products we can't announce, working with all the geographies. I love every minute of it. It's my oxygen
Walt: Who's the curator on products these days?
Tim: we have a privilege because if i look around the executive team, many of them are people I've worked with for double digit years. The curator role moves, as it has always moved
Walt: it's a myth that Jobs did it all
Tim: if he were here he'd tell you one person couldn't do it all. He brought in great people to the company, and set a standard for who they brought in. his legacy will be that. I wouldn't be overly focused on who does what piece
Tim: there's a lot of key people, there's always been a lot of key people
Kara: what's your goal, being a trillion dollar company?
Tim: no, I want to build great products. There's not a revenue goal. If you do the great products the results follow. companies that focus on financial results don't get there. You have to focus on what gets you there
Kara: what do you look up to outside of Apple
Tim: If you walked into my office you'd see Bobby Kennedy, Martin Luther King. CEOs: Bob Iger of Disney
Tim: there are others, I've had opportunities to meet
Questions from the audience
John from a University: deep discounts for K-12/higher ed are gone, no discount for iPad. Do you see a return to discounts in Apple's future?
Tim: actually there still is a discount for institutions and individuals. We're going to keep doing that because education is important. iPad does have a K12 discount. Last year that discount was 3/4 of a billion dollars, so not insignificant
Tim: iTunes University, we're doing all of this for free. iBooks Author, "a tool most people would charge thousands of dollars for"
Adam Lashinsky from Fortune: talk about your strengths and weaknesses as a CEO