Two big Apple investors have written an open letter to the company, and it isn’t talking about dividends or how the company will give their pockets more significant profits. This message is all about kids using smartphones and the potential danger that come with it.
Activist investors Jana Partners and the California State Teachers’ Retirement System (CalSTRS) pension fund have roughly $2 billion in Apple shares. In their open letter, they plead with the company to put in tools to hopefully study the impact of smartphone addiction. In the letter itself, it states that if they don’t take action and figure out this problem, this could eventually hurt the company’s bottom line.
While their stake in the company is less than one percent, the letter itself could affect other investors and banks.
“Apple can play a defining role in signaling to the industry that paying special attention to the health and development of the next generation is both good business and the right thing to do,” the letter states. “The potential long-term consequences of new technologies need to be factored in at the outset, and no company can outsource that responsibility.”