What the Apple Announcement Means

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Steve Jobs just wrapped up another keynote–Chris Martin from Coldplay is playing a little send-off right now. As far as Apple announcements go, the keynote might have felt like a bit of a letdown, but there were three important reveals:

1. Apple TV

The scuttlebutt: An iTunes-connected TV box–Kevin Rose guessed it would be renamed the iTV–that would run iPhone apps, thus creating an opportunity for app entrepreneurs to invade the living rooms of millions of Apple fanboys.

The reality: The device is still called the Apple TV. It's cheap, it looks sweet, and there are cut rate prices for video rentals. But no app store.

The upshot: A big letdown for entrepreneurs, who would have had a shot at reaching consumers in yet another place. I expect that apps will eventually come.

2. New iPods

The scuttlebutt: Apple would launch a new version of the iPod touch to keep pace with the iPhone 4.

The reality: Delivered! The new touch is basically an iPhone 4 without the phone. It includes the same display and processor, plus two cameras for video calls and the ability to record videos in high definition. Plus there's a new line of the smaller iPods. Jobs called this "the strongest lineup of iPods we've ever had."

The upshot: Great news for app developers, especially those making games and communications applications. During the keynote, Jobs pointed out that the iPod touch is the most popular portable game player in the world, with more than 1.5 billion entertainment apps downloaded. The improved iPod Touch should make the device even more attractive–and further broaden the market for game companies.

3. Wardrobe

The scuttlebutt: Black mock turtleneck, of course. 

The reality: Crew neck!

The upshot: Bad news for high neckline holdouts. Your icon has left you.

Senior contributing writer Max Chafkin has profiled companies such as Yelp, Zappos, Twitter, Threadless, and Tesla for the magazine. He lives in Brooklyn, New York. @chafkin