Apple’s new CEO, and why Elon Musk wants to buy Cursor for $60B

A new era is on the way for Apple as Tim Cook plans to step down from his CEO role in September, handing the reins to hardware chief John Ternus.  

Ternus may be inheriting one of the most durable businesses in tech, but he’s also stepping into a very different ecosystem than the one Cook spent decades shaping. The App Store’s 30% cut is under pressure, the behind-the-scenes power Apple once held over developers is being challenged, and vibe-coded apps are changing what it means to build on Apple’s platform. 

On this episode of TechCrunch’s Equity podcast, hosts Kirsten Korosec, Anthony Ha, and Sean O’Kane dig into what this transition means for startups and a closer look at some of the week’s biggest deals — including SpaceX’s $60B option on Cursor. 

Listen to the full episode to hear about: 

What the SpaceX-Cursor agreement (and that $10 billion breakup fee) says about Elon Musk’s AI strategy post-xAI merger 

Why fintech Revolut and AI chip startup Cerebras‘ public market plans have us wondering whether this is actually the year the IPO market reopens 

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