Investors with an interest in education have called on Apple to help guide young peoples’ device usage.
The California State Teachers’ Retirement System (CalSTRS) and JANA Partners sent an open letter to the technology vendor, laying out their concerns and recommending action that could be taken.
CalSTRS director of corporate governance Anne Sheehan states: “As active and long-term shareholders of Apple, CalSTRS and Jana Partners sent the corporation a letter asking them to address the growing need to offer parents more choices and tools to help ensure that young consumers are using their products in an optimal, supportive manner.
“We believe that by doing so, Apple will enhance long-term value for all shareholders, by creating more choices and options for their customers today and helping to protect the next generation of leaders, innovators, and customers tomorrow,” she states.
“We specifically ask that Apple form a committee of experts and specialists to research and study this issue and monitor ongoing developments in technology.
“Additionally, we encourage Apple to offer parents more tools by enhancing mobile device software to enable age-appropriate setup options including limiting screen time, setting up parental monitoring, etc.
“This also includes parental education on the available research and options available to help them make more informed decisions on their child’s device usage. We want to ensure stakeholders and experts have a seat at the table as Apple develops these new tools and options moving forward.
“We hold Apple in very high regard given their prominence as a leading innovator in the technology industry and the work they are doing to develop next generation solutions. Apple has an impressive history of being attentive to creating advancements that will appeal to their expanding customer base, as well as taking responsible actions that are supportive of long-term value creation and risk reduction for their shareholders.”
She adds that this is an opportunity for Apple to play a defining role in signalling to the industry that paying special attention to the needs of the next generation of consumers is both good for business and the right thing to do.
