Pres. Obama Nixes ITC Apple Product Ban

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Aug. 5 (Bloomberg) -- The U.S. decision to overturn an import ban on Apple’s older iPhones and iPads may help short-term sales and hobble Samsung in any settlement talks in the companies’ patent fight. L2 Thinktank Founder Scott Galloway speaks with Tom Keene on Bloomberg Television's "Bloomberg Surveillance." (Source: Bloomberg)

Is this latest patent decision, if you want to call it that, better for innovation or consumers?

I think it is better for apple and the obama administration.

The narrative is straightforward.

He has decided that he wants to associate his brand of new media companies and he cannot drive by a web of 2.0 company without being -- without doing a press conference.

The fact that he stepped in, he is absolutely going to be the guy showing up with an apple computer and blackberry.

Unilateral discrete events like this have to destroy our bilateral and multilateral negotiations.

The biggest customer in the world, you can throw around your weight more than anyone else.

I'm curious if you know what the ramifications will be.

I consider it a non- event other than the branding expectations.

As you say, there was no surprise that he did this.

The president cannot drive buy something with a website on it without stopping in and having a press conference.

It will be interesting to see if he weighs in between u.s. companies.

Having said all that, this internal patent battle, have we learned anything from all this?

If there was a chart, it would be the most complicated ben diagram -- divert -- venn diagram you have ever seen.

They do encourage risk-taking, but now it seems like they are in a constant state of suing each other.

Does it end, then?

This is a tiny slice of the pipe.

-- pie.

There is a constant war between p are in a legal front.

This makes the news, but in reality this is just a tiny leash.

This is war without a military.

We just lined up with one side.

Does this stifle innovation in a phone and smartphone innovation?

That will be the statement on the side of the victims.

Without proper protection, there is no reason to invest in innovation.

You are literally seeing people trying to handle the notion of trying to pinch on your ipad or iphone.

They have applied for a patent with a round of curves.

If you and i agree, getting a patent is ridiculous.

Increasingly complex and political, innovation is still moving forward with these smaller companies asking for forgiveness after the promotion.

What does it not feel like one of the world's most valuable companies?

What do you mean?

No negative news about apple, right?

We don't look at it as the u.s. less valuable company.

Why is that?

-- most valuable company?

Why is that?

We talk about it being below the ipo price.

It is just a more interesting story to talk about the slope of the company.

The slow but apple over the last year has been down.

It still has them the strongest brand in the world.

Thank you so much, scott.

Interest rates as their top

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