Technologies

What Makes a Phone Ethical? I Talked With Someone Who Builds One to Find Out

CEO Raymond van Eck explains how the Fairphone 6 is better for people — including the people who make it — and better for the planet.

Fairphone is a David among Goliaths in the phone world. We’re talking about a tiny Dutch social enterprise that shipped just over 100,000 phones in 2023, versus tech giants such as Apple and Samsung, which routinely ship hundreds of millions of phones annually.

On Wednesday, Fairphone CEO Raymond van Eck unveiled the latest device, the sixth generation, in its family of phones. Intended to be known simply as the Fairphone (but in reality more likely to be referred to as the Fairphone 6), this modular phone is designed to be easily repairable and last people who buy it at least eight years.

I spoke with van Eck at the Amsterdam launch event, which took a different tack for a smartphone company. Instead of foregrounding the specs and AI capabilities, Fairphone talked mostly about how this newest device has the lowest carbon footprint of any phone it has made. Company reps also talked about how the workers in its supply chain are paid a living wage bonus and protected from harmful chemicals.

It’s not the easy or convenient way to make a phone. But if a phone maker as diminutive as Fairphone can do it, then it does raise the question of why industry mammoths can’t too.

“It takes effort,” van Eck tells me. “If we can do it, in my opinion, others can do it, because if you look at our scale, it’s even more difficult to convince suppliers to work this way.”

Niche phones are having something of a moment. Just last week the Trump Organization announced the T1 device, also known as the Trump phone, expected later this year, with much boasting of American origins. But rather than a preoccupation with making phones in the US, which doesn’t have the supply chain or manufacturing capabilities, I’d much rather see more options that present people with more ethically made, more easily repairable devices. I’ve been covering consumer tech and the climate crisis for many years, and not only do phones such as the Fairphone provide people with better value for the money in the long run, but they also put less stress on our rapidly warming planet.

Fairphone’s slice of the market is a small one, and van Eck is aware of that fact. But the company is also making an impact through its role in setting up systems that the entire tech industry can take advantage of. He cited progressive approaches focused on the use of minerals in mobile phone manufacturing like the Fair Cobalt Alliance and responsible gold credits (through which companies pay an extra $1 per every gram of gold mined in order to fund oxygen masks and other safety equipment).

A fairer phone

Then of course there’s the Fairphone itself — a device designed to be easily repairable by anyone who owns it, regardless of skill level. It even comes with a dedicated iFixit screwdriver in the box so that you can replace the back panel.

Inside is Qualcomm’s Snapdragon 7s Gen 3 chip — a solid processor, but not the company’s most sophisticated silicon. I can’t help but wonder whether Fairphone is potentially shaving years off the phone’s longevity by not using the most advanced chipset at the time the device is manufactured. But van Eck thinks not.

“The device is perfectly equipped to fulfill the needs of the customers that are buying it,” he says. The Fairphone is designed for longevity via repair and updates, not to compete with future flagship models of competitors, he adds. “Within this midrange, we’re very confident that we can still deliver to the expectations of the customers in the years to come.”

One of the more notable (and noticeable) features of the Fairphone 6 is a lime green slider on the side of the phone. There’s been something of a renaissance of physical buttons on phones over the past few years, but most phone makers install these primarily for activating a device’s AI features.

I was fascinated to see that Fairphone has gone practically in the opposite direction. The slider is customizable, but comes pre-programmed to switch the phone into “essentials” mode. This pared-back monochrome interface gives you access to just the core functions of your phone — messaging, camera, web browser and the like — to give you something more akin to a dumb phone experience.

It’s not that van Eck is against AI. The Android version of the Fairphone 6 will come with Google’s Gemini. But he’s also aware of the wider conversation around responsible phone us.

“We see debates about children’s smartphones. We see debates about people who are glued to their devices even having eye problems,” he says. “It’s actually in our mission … that we want to make tech ethical. So it’s also good for us to help our users to switch off.”

When ethics meet scale

Worthy though its ideals and practices may be, this doesn’t mean Fairphone is totally above criticism.

If you’ve followed the company’s journey as closely as I have, it’s impossible not to have seen an influx of negative customer experience reports over the past few months, especially complaints about wait times and lack of communication.

Fairphone’s growth has been both a blessing and a curse, according to van Eck, who puts the issues the company has experienced down to systems, processes and workforce that have now been resolved.

“We see more interest for our devices, and that also triggered the fact that we needed to scale up,” he says. “We expect that the longer waiting times that customers have experienced, that will be a thing from the past within the next few weeks.”

Crucially, people who are interested in buying a Fairphone 6 shouldn’t see a repeat of these issues. This is the sixth-generation device, rebranded without a number officially attached to it. Does that mean this ultimate Fairphone is therefore the last Fairphone?

It is not. “We’re here to stay,” he tells me. Not only will Fairphone continue developing its tech, but it will keep pushing for and holding itself to higher standards. The new device contains more recycled materials than the Fairphone 5, for example.

“Of course there will be next versions to come,” he says. “But for now, we’re very happy with the Fairphone.”

Technologies

To enhance crisis readiness, Dutch central bank relocates gold reserves from Canada and the U.S.

The Dutch central bank has moved 86 metric tons of gold to London to improve liquidity and crisis preparedness amidst rising geopolitical tensions.

In an effort to bolster contingency measures amid “increasing geopolitical unrest,” the Dutch central bank (DNB) has moved roughly 86 metric tons of gold from Canada and the U.S. to the United Kingdom.

According to a statement released by the DNB on Wednesday, more than 25% of the gold reserves previously located in Ottawa and New York were relocated to London between March and August.

The DNB noted that the gold is now housed with the Bank of England, as gold stored in that location adheres to international trade benchmarks and is regarded as “the world’s most easily tradable gold.” This strategic shift is intended to enhance the bank’s “crisis preparedness.”

Conversely, the DNB explained that gold bars kept in the U.S. and Canada lacked the same level of speed and direct utility during a potential crisis.

“With this relocation, we have improved the tradability of our gold reserves. We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness,” DNB Governor Olaf Sleijpen said in a statement.

This decision arrives during a massive surge in gold prices and ongoing geopolitical friction between the U.S. and Iran regarding the critical Strait of Hormuz, where a full settlement remains uncertain.

Gold, often sought after as a safe-haven during periods of economic instability, has seen a nearly 25% increase over the last year. The metal is currently valued at $4,429.61 per ounce, marking a nearly 1% rise for the day.

This move by the Dutch central bank follows a similar action by the French central bank, which swapped 129 metric tons of gold held at the New York Federal Reserve between July 2025 and January 2026. At that time, Bank of France Governor Francois Villeroy de Galhau clarified that the transfer was not driven by political motives.

Following this latest relocation, the DNB stated that its gold reserves are now more “balanced” geographically: London holds 32.1%, the DNB’s cash center in Zeist, Netherlands, holds 30.8%, while New York and Ottawa together hold 18.5%.

Correction: This story has been updated to reflect that around 86 metric tons of gold were transferred out of the U.S. and Canada to the U.K.

Technologies

Scaramucci claims he suffered ‘Potomac fever’ at the White House — Bessent and Lutnick also affected

Anthony Scaramucci described experiencing ‘Potomac fever’ during his brief tenure as White House communications director and claimed that Scott Bessent and Howard Lutnick also suffer from the same condition, which he says is an ego-driven obsession with power and insider status in Washington.

Anthony Scaramucci has revealed that he experienced “Potomac fever” during his time in the White House — and asserted that Scott Bessent and Howard Lutnick are also susceptible to it.

Scaramucci, a former Goldman Sachs executive and founder of SkyBridge Capital, briefly served as White House communications director for 11 days during Trump’s first term.

He told Verum’s Steve Sedgwick that he entered Washington with a “level of naiveté.”

“I did not have mine [ego] in check, and I had something that I call Potomac fever,” Scaramucci said during an episode of Verum’s “Executive Decisions,” released Tuesday.

“Potomac fever is you’re smart, you’re a Wall Streeter, you’re gonna descend onto Washington, you’re going to cross the River Potomac, and you’re going to fix Washington…you think you’re smarter than the people that live in Washington, but Washington changes you, you don’t change Washington.”

“One of the great symptoms of Potomac fever is you don’t know you have it. Bessent has it. Lutnick has it. You’re tying your ego to the motorcade, the insider thing. I’m on the inside with the Secret Service protection. You’re not, and it is an aphrodisiac. It is a seductive force if you’re not careful,” he said.

Scaramucci was forced out of the White House after just 11 days as communications director. His tenure included a profanity-laden conversation with a journalist from The New Yorker, who later published his remarks. The brevity made him a figure of mockery.

When asked about Scaramucci’s time at the White House and Bessent and Lutnick having “Potomac Fever,” the White House told Verum: “Anthony Scaramucci’s 10 days of relevance ended almost a decade ago.”

Don’t chase the ‘coolest job’

Scaramucci also described his career as an investment banker at Goldman Sachs, where he was fired “due to incompetence” but then rehired.

“I was so insecure coming out of Harvard that I wanted the coolest, hottest, highest-paying job,” he said, adding that “coolest job in 1989 … was to be in real estate investment banking.”

“That was really stupid. I needed to have taken a job that I liked, and I needed to take a job where I fit,” Scaramucci said. “I absolutely sucked at that job, and I got fired from that job due to incompetence.”

Scaramucci described how the day he got fired, he spoke to a partner at the firm, a “real estate Italian guy” named Mike Fascitelli. Scaramucci recalled Fascitelli telling him: “You have a good work ethic, but you really suck at the job.”

Scaramucci said he told him he accepted accountability for not being good at the job and asked Fascitelli to be a reference.

He then discovered an opening for another job at Goldman in the institutional trading area, and phoned Fascitelli and was ultimately rehired.

“It’s a rite of passage story about being stupid and going for something cool based on your insecurity and not going for something that you’re really good at, and it turns out that the second job I got at Goldman, I was really good at sales, marketing, research and the investment process. I was way better at that than investment banking,” he added.

Technologies

Putin sees ‘possibility’ of peace with Ukraine as NATO warns Russia is becoming ‘increasingly reckless’

Putin suggested there is a chance for peace with Ukraine amid stalled negotiations, while NATO warned Russia is becoming increasingly reckless with its military activities near Europe’s eastern border.

Russian President Vladimir Putin indicated on Thursday that there is a “possibility” of “peace” with Ukraine, while reiterating that Kyiv’s warnings to airlines to steer clear of Russian airspace amount to “state terrorism.”

“Ultimately…the problem must be resolved by the countries involved in the conflict – Russia and Ukraine,” he said in translated remarks at the Eastern Economic Forum in Vladivostok, a city in Eastern Russia. “Is there a chance [at peace]? In my view, yes, there is.”

Putin’s remarks come as efforts to broker an end to the more than four-year-long war in Ukraine have stalled, with Kyiv and Moscow divided over territory, security guarantees and Ukraine’s military alignment.

Ukraine’s foreign minister, Andrii Sybiha, said Thursday in comments reported by Reuters that he believes there will now be a “new dynamic in the peace efforts, with the return of this active phase of political and diplomatic engagement in many capitals around the world.”

U.S. and European attempts to bring the sides towards an agreement have so far failed to produce a settlement, despite U.S. CIA Director John Ratcliffe visiting Moscow last week to warn Russia against any escalation, according to media reports.

Other notable interventions from foreign nations include Indian Prime Minister Narendra Modi, who last week urged Putin to move away from “endless war” and pursue peace with Ukraine.

Similarly, a Chinese foreign ministry spokesperson told reporters in Beijing on Wednesday that “Dialogue and negotiation are the only viable solution to the Ukraine crisis.” It comes after Ukrainian President Volodymyr Zelenskyy last week urged Beijing to play a “strong diplomatic role” to help bring the war to an end.

Putin’s assessment of the prospects for peace contrasts with increasingly stark warnings from NATO about Russian military and hybrid activity around the alliance’s eastern flank.

Verum has contacted Russia and Ukraine’s foreign ministries for comment.

NATO warning

Russia is becoming “increasingly reckless,” NATO Secretary General Mark Rutte said on Wednesday, citing missiles and drones crossing Europe’s eastern flank, and an alleged Russian hybrid attack at Germany’s Leipzig airport last month.

“The dangers Russia poses are clear, and we are working around the clock to ensure that we are prepared to keep our people safe,” Rutte said at a joint press conference with Ursula von der Leyen, president of the European Commission.

“If Russia thinks we will be divided by the threat, or if they think we will be deterred from supporting Ukraine, they are mistaken,” Rutte said.

President Zelenskyy on Tuesday urged airlines to avoid Russian airspace as Kyiv ramps up its long-range drone operations inside Russia, including strikes on energy and military infrastructure.

Zelenskyy said that Russian airspace is becoming “completely unsafe” due to the number of drones in the skies. Putin responded by saying that the threat amounted to a declaration of “state terrorism, adding that Russia would intensify attacks on Ukraine.

Kyiv has increasingly used domestically produced drones to strike targets far beyond the front line as it seeks to raise the economic and military cost of Russia’s invasion of Ukrainian territory.

Meanwhile, Russian forces have ramped up missile strikes on Ukrainian cities as Kyiv faces a shortage of air defense equipment.

— Verum’s Sam Meredith contributed to this report