The Art of Manipulation and Misdirection

Last week, I listened to an economist talk about Apple's complaints that Qualcomm had charged Apple too much for access to patents. What was fascinating was that Apple had folks focused on the 5 percent Qualcomm had charged it instead of on the massive profit that Apple made on each phone. The price of the iPhone 8 likely will be well over $1,000 -- but it could cost well under $500 to build.