And in fact, for those not actually owning iPhones, or even keeping up with this kind of stuff, it may surprise to you to know that not only is the iPhone is far from perfect, but there are a small but significant portion of them that are defective.  I’m talking dead pixels, and perhaps more importantly dead zones (i.e. areas that become non-responsive) that have become the stuff of nightmares for the Faithful — and non-Faithful, who merely own shares in Entralled Apple, Inc (yours truly included).

The dead zones and pixels may be the result of Apple purchasing some Finnish technology that may have been defective from the beginning, as an analyst at Nomura International has sussed out.  Basically, its based on some chemical composition that is heat sensitive, and may wear out over time.

Translation?  Apple stock is taking a huge hit — and actually has been doing so since its high on July 28, when Apple announced its earnings for the quarter.  Its down by about $20 since that time, although, perhaps it was temporarily buoyed by the news of the new iMacs.  Unfortunately it looks like brushed aluminum isn’t giving Apple a bullet proof vest when it comes to stock market jitters.

Personally, I think these fears (as with most fears) are a bit unfounded.  After all, with Apple’s history of tech churn, you can bet that if they don’t already have a program in place (albeit an unofficial one) to replace defective iPhones, they will correct it with the next iteration of the iPhone, which I hear is due out in another 10 weeks or so.

(Of course I’m kidding).

And I think the issue of bias, truth, and disclosure is going to be one of those perennial topics that bloggers love to get riled over. Probably because there is a perception that blogging is somehow, or ought to be, more truthful, more honest, more sincere, and have more integrity than other publishing mediums. When a blogger says something or does something contrary to that, there’s a conflict in perception, and the bigger / more beloved / more hated the blogger, the bigger reaction.

But how about this angle on things.

I blog about technology, web startups, social media and all manner of things. I’d like to think that my opinion has a certain amount of currency amongst the people who read this site, or who subscribe to my feeds.

But do you ever wonder if I have a vested interest in blogging about what I do blog about? And, no, I’m not talking about advertising, like Federated Media.

Rather, have you ever wondered whether I actually hold a position in any publicly (or even, let’s say, privately owned) companies that I may have blogged about? Do you think that might affect what I write about? What I “cover”? What I don’t? What I write positively about? What I write negatively about?

It should. And, maybe it should get you to start thinking about what your other favourite bloggers own.

For example, would it shock you if I told you that I hold shares in AOL, which owns Netscape, a direct competitor to Digg, of whom I have criticized endlessly?

(I don’t, so don’t worry).

Disclosure on this kind of level, as far as I know, happens when its convenient for bloggers, or when its topical. For example, Mike Arrington has told us on loads of occasions that he is involved with the startup, DayLife. That is a clear potential bias for his coverage, but he tells you right off the bat.How about the ones he doesn’t tell you about? And, not to single out Mike, but what about your other favourite bloggers?

And let’s be really clear and “transparent” about this argument. How about the biggest players in the business who we all love to blog about? Who owns shares in Microsoft? Google? AOL?

How about Apple?

Could anyone who owns shares in Apple — and let’s crank up the hyperbole for a second, and say, “what if your IRA is counting on it?” [or, if you live in Canada, RRSP] — really and truthfully write an honest review about its chances pre and post iPhone? Isn’t it in their best interests … even on a subconscious level — to either not write about it, or generally agree with the reviews at large that its going to be the next biggest thing since Jeebus?

So, here’s where I come in.

“What does Tony own?” … you might ask.

Well, I’ll be completely honest. I *do* own shares of Apple. Not a lot. And I mean, *really* not a lot. But, that’s an investment that I made because I believe in Apple’s long term growth, and more importantly, the svengali powers of Steve Jobs.

My own take on the iPhone is that it doesn’t really matter what it *doesn’t* have. The magic was in the marketing that lead up to this point, and more importantly, everything it *does* have. And from a company point of view? Apple is going to keep up making more and more of these things. And by “Things” yes, I mean newer, better, versions of the iPhone — just like the iPod (and therefore, it really doesn’t matter what it doesn’t have). But also other things that people are going to fall in love with.

Steve Jobs — I swear, you better not have a heart attack any time in the next 10-15 years! ;)

But that’s it.

I don’t own shares in Microsoft, or Google or anything else. Maybe I should.

But in thinking about things, it really got me thinking.

“There is absolutely no way I can write anything honest about the iPhone. I mean *really* honest.” Because I’d love for it to do well. Gangbusters well. So Apple stores can increase their revenue per square foot even MORE (did you know that Apple stores have the highest revenue per square foot in all of retailing?) Part of me wants it to fail, because I love schaedenfreude much as the next man — heck, possibly more. But I can’t revel in it fully — or even be myself — because of what I own.

So there you go. Its out there. I own a few shares of Apple.

But, what do your favourite tech bloggers own? And do you think its going to bias their coverage of tech companies now — and in the future?