According to a new Bloomberg article, Apple Inc. (NASDAQ:AAPL) made a big mistake by taking on debt in order to pay for its massive capital programs. The author thinks that the company should have, instead, bought Tesla Motors Inc (NASDAQ:TSLA) instead, and that’s what the company would have done under former CEO Steve Jobs.

Apple steve jobs

Chamath Palihapitiya, writing on Bloomberg earlier today, pointed to the company’s recent announcement that it intended to get into the auto market. The move was low key, and this annoyed Palihapitiya.  The news that the company was taking on $17 billion in debt shook his opinion of modern day Apple Inc. (NASDAQ:AAPL) even further.

According to Palihapitiya, if Steve Jobs were still in charge at Apple Inc. (NASDAQ:AAPL) the auto announcement would have been reserved for the World Wide Developers Conference, and it would have been a big deal. The thesis is that Apple Inc. (NASDAQ:AAPL) is no longer the company it was under Steve Jobs, and the argument is attractive.

Apple Inc. (NASDAQ:AAPL), in its twenty first century form, built itself on consumer experience. Its products were new and innovative, it changed the consumer electronics market, and the company built itself into the biggest firm by harnessing the love consumers had for its products. Now the company is getting involved in debt deals although it’s one of the most cash rich firms in the world.

This is something that the company’s fans can’t understand too easily, and it points toward growing concern at Cupertino that the opinions of hedge funds and their voices seem to be becoming more important to the firm than its customers. Rumors that Apple Inc. (NASDAQ:AAPL) is working on long awaited smart televisions and watches, do not help the company’s image, according to the piece.

Apple Inc. (NASDAQ:AAPL), if Steve Jobs were still in charge, would have made a huge deal about its intent to move into cars. The move would have been portrayed as a revolution, and the rhetoric around it would have built excitement. If he was around, Apple might just have bought the most exciting company in the auto industry -Tesla Motors Inc (NASDAQ:TSLA).

Many Apple Inc. (NASDAQ:AAPL) fans would love to see a car designed in Cupertino hit the road. Google Inc (NASDAQ:GOOG) has been working on a car for years. Maybe Apple Inc. (NASDAQ:AAPL) should have bought Tesla Motors Inc (NASDAQ:TSLA).