Term Sheet | Fortune Completely destroyed

Apple CEO Tim Cook during the company’s annual developer conference in Cupertino, Calif. on June 9, 2025. (Photo: David Paul Morris/Bloomberg/Getty Images)

Who needs AI when there’s a shiny new aesthetic?

Apple on Monday unveiled “Liquid Glass,” a new, unified design for the software that powers its iPhones, iPads, Macs, TVs, and Watches.

As expected from the design-centric folks in Cupertino, it’s slick stuff. 

A transparent look infiltrates the icons, files, tabs, and control areas of the operating system and Apple apps. Interface nips and tucks allow similar things to group together and controls and tabs to disappear when they’re not in use. 

Variations of the word “fluid” appear a half-dozen times in the company’s announcement, issued during Apple’s Worldwide Developers Conference, or WWDC.

Microsoft Windows Vista jokes aside—and the glassy new elements certainly recall a rival’s notorious operating system—the company’s UX innovations were only partly well-received. 

That’s because the worst-performing “Magnificent 7” big tech company this year (in terms of the markets) didn’t have what most folks wanted: a major AI announcement.

This week, Apple was careful not to over-promise on AI-driven features. 

It announced an API that allows third-party developers to build Apple Intelligence into their apps. Users can now use AI to search the web for any visual on their screen. A “live translation” feature automatically translates text messages and call captions from different languages.

The new look and features will be available this fall. Apple shares closed the day down 1.2%. —AN

At least six Waymo self-driving cars have been damaged by the violence taking place in Los Angeles in recent days amid protests against federal immigration raids.

The autonomous vehicles, as well as some Lime electric scooters, have been vandalized, and in some cases set on fire and completely destroyed. 

Videos of people climbing the Waymo robotaxis and bashing in the windshields, as well as clips of Waymo cars engulfed in flames, were shared widely online, quickly becoming key imagery of the protests in downtown Los Angeles. 

The Los Angeles Police Department warned people on Sunday to steer clear of the area, due to the risk of toxin exposure from electric batteries catching on fire. All of the self-driving taxis deployed by Waymo, which is owned by Alphabet, are electric.

No Waymo riders or employees were harmed during the incidents, and passengers had exited vehicles before they were vandalized, according to a Waymo spokesman. 

The company stopped service downtown on Monday as the protests continued, though Waymo continued to operate in the broader Los Angeles region.

Waymo declined to comment on the total estimated damage, and Lime declined to comment. Analysts have estimated that the Waymo Jaguar I-Pace SUVs, which are equipped with radar and lidar equipment, cost between $150,000 to $200,000 each. —Jessica Mathews

Warner Bros. Discovery will split itself into two publicly traded entertainment companies.

The maneuver, announced Monday, will separate its cable networks from its movie studio, TV production, and HBO Max streaming units.

A company called “Global Networks”—don’t expect the names to stick around forever—will take lucrative-but-declining CNN, TNT, TBS, and dozens of smaller assets, including Bleacher Report, CNN’s planned streaming service, and international holdings.

Global Networks will hold up to a 20% stake in the second entity, called “Streaming & Studios,” which will control assets like DC Studios, Warner Bros. Games, and the Warner Bros. TV and film divisions. 

It expects to use earnings from that investment to pay off debt; the consolidated company carries about $34 billion’s worth.

If you’re thinking, doesn’t this basically unwind the 2022 merger of Warner Media and Discovery Communications? Yes, more or less.

It also echoes Comcast’s recent move to offload its cable networks into a standalone company called Versant. That deal is expected to close later this year.

Warner Bros. Discovery CEO David Zaslav will occupy the top job at the Streaming & Studios company. CFO Gunnar Wiedenfels will become chief executive of Global Networks. 

The company’s stock closed at $9.53, down 3% on the day and almost 11% year to date. —AN