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David Zaslav will receive $887M as compensation for the Paramount/Warner Bros merger. Meanwhile, thousands of people are expected to lose their jobs in layoffs after the merger closes. (Source: Deadline)

Technically true but misleading. No iPhone is really “made” in India — yet. But if the final step is completed there, it’s a “substantive” change to the product and can therefore avoid tariffs. But these iPhones are as dependent on the China-centric supply chain as every iPhone you’ve ever held. The depth and breadth of the supply chain hasn’t moved. Maybe, and hopefully, it will, but that would take years, cost tens of billions of dollars, and cause Apple unwanted friction with Beijing and Chinese consumers. So yes, India is the “source,” but only after 1,000 parts (per iPhone) have been machined, fabricated, laser-welded, molded, shaped, etched, and fitted across an enormously complex, efficient and expensive web of factories in China involving up to 3mn workers per year. After subassembly, it’s exported to India, for final assembly and packaging, a process involving tens of thousands of workers. De-risking is in the future. At present, India-“made” iPhones are about avoiding Modi’s tariffs on China (for the Indian market) and avoiding Trump’s tariffs on China (for the US market).

Finder icon color balance is restored in macOS Tahoe beta 2