iPhone X goes on sale, bringing out the true Apple superfans

Production problems? Forget it.

The iPhone 8? A distant memory.

Throwing down more than a grand for the latest and greatest iPhone? That’s what they’re here for.

The iPhone X went on sale around the world on Friday, drawing crowds and long lines as Apple fans patiently waited to get their hands on the very best iPhone money can buy.

And spend money they did. The iPhone X (that’s pronounced “ten” not “ex”) just scrapes in under 1K in the US and UK, with a starting price of $999 and £999, respectively.

But in Australia, one of the first countries in the world to start selling the device, that price goes up to AU$1,579. And if you want the larger 256GB capacity, you’ll spend a whopping AU$1,879. (That’s $1,149 or £1,149 in the US and UK.)

This second launch, which comes more than a month after the launch of the iPhone 8, is the latest wrinkle in the annual gathering of Apple fanboys, gadget enthusiasts and publicity seekers. Apple’s decision to stagger the launches presented consumers with the dilemma of buying the more readily available iPhone 8 immediately, or holding out for the supposedly supply-constrained iPhone X.

To the people who showed up today, there was no question which iPhone won out.

They turned out in droves, despite (or maybe because of) early murmurings of production delays and reports that Apple might only ship half the number of devices it originally planned.

For many, it’s the only way to get the device on launch day, with pre-orders for the Nov. 3 shipping date selling out in as little as 10 minutes. Now, customers are facing delays of up to six weeks to get the true flagship Apple phone.

Sydney

At Apple’s flagship Australian store in Sydney — the first store in the world to sell the new iPhone — lines formed early, with early birds queuing since the start of the week to be able to walk straight into the store on Friday to buy the phone.

For those who had preordered, the wait was much more civilised, with buyers queuing from Friday morning to pick up phones they’d bought as soon as preorders opened on Oct. 27.

First through the doors were Sydneysiders Bishoy Behman, who’d been queuing for a week to buy the iPhone and who livestreamed his walk into the store on his iPhone 8 Plus, and Mazen Kourouche, who came to collect the phone he’d preordered “literally the minute” orders opened last week.

So why buy the iPhone X when you have a weeks-old device in your hand?

“It’s the new iPhone. It’s a new generation,” said Behman. “I’m excited for this. The 8, not so much.”

After buying two 256GB models, Behman leaves the store to immediately sell the second phone, hoping to find an eager buyer at the back of the queue.

“I’ll see how I go,” he says. 

A veteran iPhone hypester, Kourouche is also replacing his 8 Plus with an iPhone X, and plans to use the older device to shoot videos for his tech YouTube channel. The 20-year-old software engineering student unwraps his new phone like he’s doing an unboxing (though I’m the only one watching) and proceeds to tell me about the new features.

“The notch doesn’t seem to be intruding,” he says, referring to the black section at the top of the screen. “I’m going to have to get used to no home button.”

Next to him, the second in line for preorders Jesse Goodwin is getting used to the hype. He avoided the Apple store in September and bought his iPhone 8 Plus from his carrier, Telstra, but he’s already sold that to pay for the iPhone X.

The 19-year-old chemistry and Chinese studies student says reselling older devices helps him pay for the latest and greatest model.

“I’m doing a double degree, I don’t have time for a job,” he says. He starts setting up Face ID as we speak, before musing, “When I’m in China, I wear a face mask so I won’t be able to unlock the phone.” 

It doesn’t seem to bother him. Before he walks out with his new iPhone in that distinctive Apple goodie bag, he tells me this new phone is “next level.”

Japan

There seems to be considerable interest in the iPhone X in Japan as well, as lines at the Apple Store in Shibuya district in Tokyo are stretching to at least two streets away. Apple has a considerable fanbase in Japan, and it’s no surprise to find that there’s huge interest in the new phone. 

China

Over in Beijing, queue lines at Apple Store in Sanlitun weren’t as crazy long in Japan. With five different outlets in China’s capital city, Apple iPhone X buyers were spread out a bit more. Still there was plenty of enthusiasm for the new phone from those in line.

Serial Apple queuer Lloyd Yu, 31, who works at a startup, was first in line since 5am, and is getting two 256GB iPhone Xs in Space Grey. He already owns an iPhone 8 Plus and wants to upgrade because he’s a big fan of Apple.

“Everything Apple does, I accept, because everything Apple designs, is the best,” said Yu, adding that he’s also looking to try out Face ID.

Yu, who’s apparently a familiar face to Apple employees, was seen hugging and chatting with staff he knows before he left the store. By then, surprisingly, the queue lines seem to have grown larger compared to earlier in the morning, a response that’s considerably better then Apple’s iPhone 8 launch which was apparently quite lacklustre.

First published Nov. 3 at 3:38 p.m. PT. 

Update 7:07 p.m.: Adds material from Japan and China. 

Apple: See what’s up with the tech giant as it readies new iPhones and more.

Goodbye, home button? Get ready for the iPhone’s biggest change ever.

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Robert Mercer, Bannon Patron, Is Leaving Helm of $50 Billion Hedge Fund

Mr. Mercer, 71, sought in his letter to employees to distance himself from Mr. Bannon, who has gone back to running Breitbart News, the divisive media outlet and hub for nationalist and far-right activism. He said he was selling his investment in Breitbart to his daughters, who also are active in conservative politics.

“I have great respect for Mr. Bannon, and from time to time I do discuss politics with him,” Mr. Mercer wrote. “However, I make my own decisions with respect to whom I support politically. Those decisions do not always align with Mr. Bannon’s.”

His departure is not likely to fundamentally alter either Renaissance’s status as one of the most profitable hedge funds or Mr. Mercer’s status as one of the most sought-after financiers in the conservative ecosystem. In fact, the firm took on $1 billion of new funds in the past month.

But it illustrates how the worlds of politics and business are colliding in the Donald Trump era. President Trump has tried to surround himself with corporate executives, but the president’s actions and rhetoric have left some of these leaders facing angry customers and employees. A number of presidential advisory councils, for example, disbanded this summer as chief executives resigned in protest over Mr. Trump’s lukewarm denunciations of white supremacists.

Mr. Mercer followed an unusual route to become arguably the most powerful person in the right-wing movement that thrust Mr. Trump into the White House.

A shy computer coder and model-train aficionado, he spent years at I.B.M. before joining Renaissance in 1993. He helped build the hedge fund into one of the industry’s most successful firms.

Beyond donating to political campaigns, Mr. Mercer became a large financial backer of Cambridge Analytica, a voter-data firm that worked closely with the presidential campaign of Mr. Trump.

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Lawmakers in Washington are scrutinizing Cambridge Analytica in connection with investigations into Russian meddling in the presidential election; the company has turned over documents to the House intelligence committee.

Mr. Mercer and his daughter Rebekah were instrumental in Breitbart’s rise into a powerful force in conservative politics.

That backing has become controversial, partly because of the site’s connections to white nationalists. One especially inflammatory Breitbart personality, Milo Yiannopoulos, reportedly has received financial support from the Mercers.

Mr. Mercer on Thursday distanced himself from Breitbart, Mr. Bannon and Mr. Yiannopoulos, who resigned from Breitbart earlier this year.

“Actions of and statements by Mr. Yiannopoulos have caused pain and divisiveness undermining the open and productive discourse that I had hoped to facilitate,” Mr. Mercer wrote. “I was mistaken to have supported him, and for several weeks have been in the process of severing all ties with him.”

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Mr. Yiannopoulos said in a statement: “I am grateful for Bob’s help in getting me this far in my career. I wish him and the family all the best.”

Activist groups recently have pressured university investment funds to pull their money from Renaissance. The college Democratic organization at Michigan State University, for example, recently began calling on the university’s endowment to withdraw its roughly $50 million investment.

This week, students at the State University of New York at Stony Brook on Long Island voiced concern about donations to the university from Mr. Mercer and Renaissance.

Mr. Randall of the Baltimore retirement fund compared the decision to redeem money from Renaissance to the decision of whether to invest in a tobacco company or gun manufacturer. He said Renaissance is one of the fund’s best performing investments.

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Not all investors were bothered by the controversy surrounding Mr. Mercer. The endowment for Michigan State has no plans to withdraw its money despite the campus protests, said Jason Cody, a university spokesman.

“We hire investment managers based on their long-term expected performance and fit for the overall portfolio,” Mr. Cody said. “We do not consider the personal political opinions and private activities of individual employees when making decisions.”

Steve Yoakum, executive director for Public School Retirement System of Missouri, another Renaissance investor, said the furor over Mr. Mercer was a “manufactured issue.” He said performance trumped anything else.

Renaissance has made its investors lots of money. Its three main funds that are open to outside investors are up more than 10 percent through October this year. So far this year, the hedge fund has attracted about $10 billion in new assets.

The combination of Renaissance’s consistently strong performances, its secretive nature and its leaders’ idiosyncratic personalities have created an aura of mystique around the firm. Mr. Mercer’s pivotal and prominent support for Mr. Trump shoved Renaissance into the spotlight.

For example Mr. Mercer hosts a well-known holiday costume party at his Long Island estate. Last year, the president-elect and a coterie of his top advisers were among the guests.

Honoring the ultimate hero at the Mercer “Heroes and Villians” party on Long Island. Crowd thrilled w/ surprise! pic.twitter.com/VQAyaKvs6i

—
Kellyanne Conway (@KellyannePolls)
Dec. 4, 2016

“Mercer is now such a controversial figure, that must cause all kinds of difficulties for the company,” said Nick Patterson, a computational biologist at the Broad Institute, who hired Mr. Mercer at Renaissance. He said Mr. Mercer’s prominence could make it harder for Renaissance to hire the best people.

Even as he steps down from Renaissance, Mr. Mercer is likely to accelerate his political giving in the future, according to people with knowledge of Mr. Mercer’s thinking who were not authorized to speak publicly.

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Without a day-to-day role in Renaissance management, these people said, Mr. Mercer would have more freedom and time to devote to his philanthropy and other activities, including an effort to recruit and support conservative candidates who want to replace the current Republican leadership in Congress.

Mr. Mercer’s departure could stem investor defections from Renaissance. Mr. Randall said that with Mr. Mercer leaving, the Baltimore pension fund could reconsider its request to withdraw the $33 million.

“My professional position is I don’t think this will be the last discussion concerning Renaissance,” he said.

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