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Many of these phones are stolen to order and are shipped out of the country within hours.
Some have been found in China, Russia and the Middle East. 
Would your local Police try to get them back even if you know where it is?
Probably not.
Anyone taking selfies is advertising what phone they have.  Again, an invitation to the gangs of thieves. 
Flashing your maxi-sized phone around in places like the middle of London or any big city is  IMHO flashing an invitation to these gangs to come and get the phone.
That's why I use an iPhone SE. Hardly worth nicking. 

I have seen these gangs in operation in Glasgow. They are incredibly well organised. 

Could Apple and Google do better?
You bet. They could automatically disable the phone the next time it is connected to a network. That might not be so easy in some countries.  Make reporting the theft easy. Do it in hours not days. 
But people, please don't waft your top of the range phone around in crowded places/tourist hotspots. If you to make sure that it is covered by insurance. 
Oh, Apple, please allow people to register their phone with you. Connect the IMEI etc with you. How many people know the serial number or IMEI number of their phone? You don't so make a database so that when your phone is stolen, those details can be available to you and law enforcement.

Blaurieter said:

The new White House has just turned President Kennedy's phrase and personalized it:

"Ask not what your country can do for you—ask what you can do for your country."

Now it is Ask not what your Trump can do for you—ask what you can do for Trump."

The government used to do things FOR people (FEMA, Medicare, infrastructure), now it is what the government will do TO youi. [of to corporations, to colleges, local and state government).

That should be  
ask not what your country can do for you - ask how much will it cost me to keep Trumpo off my back?

Tim Cook could stroke Trump's ego by making him a Solid gold iPhone. Build it in the USA and ... job done. Ok, it is small fry when compared to a 747-8 but Chump loves gold trinkets. If you doubt that, just look at the Oval Office. It is full of gold tat.

Did Apple not learn anything from 'BatteryGate'? I smell a monster class action lawsuit just waiting to be filed as soon as this release hits the street.
AI has its place but ... I just have this feeling that this is not one of them.

I hope that the default is OFF otherwise, I hope Apple has a better class of lawyer on speed dial than they had with the Epic case.

Is there no limit to how low Google will stoop? Don't answer that. They know no limits in their quest to know more about you than you do.

If you use Google for anything, now is the time to stop and ask if you should continue to let them have free access to your phone which for many people IS THEIR LIFE.

NO, NO and thrice no.