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Apple CEO Tim Cook calls new regulations "inevitable"

• https://www.axios.com by Mike Allen, Ina Fried

What he's saying: "Generally speaking, I am not a big fan of regulation," Cook said in the interview. "I'm a big believer in the free market. But we have to admit when the free market is not working. And it hasn't worked here. I think it's inevitable that there will be some level of regulation," Cook added. "I think the Congress and the administration at some point will pass something." 

Why it matters: The CEO of the world's most valuable company made it clear that Silicon Valley, despite surging revenue and profits, is in a newly humbled posture after a year of rising global skepticism.

Cook told us he used to pick up his iPhone too much, but has reduced his notifications: "The number of times I pick up a device are declining."

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