Google is paying Apple billions per year to remain on the iPhone, Bernstein says

Todd Haselton, writing for CNBC;

Google is paying Apple billions of dollars to remain the default search engine on iPhones and iPads, Bernstein said in a note to investors on Monday.

The firm believes that Google will pay Apple about $3 billion this year, up from $1 billion just three years ago, and that Google’s licensing fees make up a large bulk of Apple’s services business.

Of course, Google will earn more than what they’re paid Apple in return. Just last quarter, the company reported a revenue of $26 billion.

So I’d say that $3 billion (a year) that they paid Apple is all worth it.

What it’s like working for Warren Buffett: ‘It’s literally just reading about 12 hours a day’

Tae Kim, reporting for CNBC;

Combs also revealed what a typical day was like as a Buffett manager:

“I get in around 7 or 8 and I read until about 7 or 8 at night. And I go home and see my family and then I’ll read for another hour or two in bed at night. And you know, there might only be three to four phone calls the entire week. So there are very, very few interruptions … But it’s literally just reading about 12 hours a day.”