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> Partner has agreed to make certain payments to the Company for (i) 95% of the approved capital expenditures Globalstar makes in connection with the new satellites described

The real secret that will be studied in business school for decades to come is Apple's supplier model.

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Having trouble understanding this. Why is it special that the supply model be studied?

They are able to swoop in and lock up supply better than any company and turn the screws on them to produce exactly what Apple needs.

Their strategy uniquely gives you the upside of internal R&D (pace, funding, and direction are set by you) with none of the downside (potential disruption by new technologies). Apple can drop a supplier on a dime if a disruptive technology comes out. If that same tech was being developed in house, there would have been too much internal politics and momentum for that switch to happen. But because they bankroll capex, they have control over the direction and pace of incremental R&D.

Note that Tim Cook and Jeff Williams the COO and Tim's right hand human, spent their entire careers before senior leadership managing Apple's supply chain.

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