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What would Steve Jobs think about the current state of innovation at Apple?

Well I think Apple has become a very iterative company instead of innovative. the 4S was the last device released in Steve’s lifetime. Apple is generally a trendsetter in the industry. The Macbook Retina (2012) and iPhone 5S (2013) spurred the adoption of high res displays on laptops and fingerprint sensors on phones after they were introduced. But I’d say after 2013ish it started to go downhill, and the innovation turned to iteration trying to catch up to Samsung and others.

Look at this…
iPad Pro and iPad Mini were released after Jobs died. I doubt he would’ve approved of having 3 different kinds of iPads available at once. He was a proponent of simplicity and giving the consumer only a few choices.
At the same time we had the Macbook 12 inch, two different sizes of iPhones, Macbook Air somehow still available, and the three worst offenders lately have been: Apple Watch – no matter what I don’t think Jobs could have justified the purpose of having a smartwatch. And especially one priced at $10k.
iPhone 7 – this completely divided consumers with the removal of the headphone jack. As an avid analog music listener I doubt Jobs would have been happy about that either.
2016 Macbook Pro – eliminate all legacy ports and replace them with USBC. No Jobs wouldn’t have done this either. He would have left at least one USBA port in there. Yes the earlier Macbooks removed the optical drives before anyone else did, but at that time everything was shifting to digital downloads. We have not shifted to world where everything uses USBC yet. And yeah the touch bar – totally useless. Just like Force Touch.

IMO the last great product Apple released was the iPhone 5S. After that they are just playing catchup to Samsung. (disclaimer: I own an iPhone SE)