“What I can’t figure out is why Steve Jobs is even trying to be the CEO of Apple? He knows he can’t win.” –Bill Gates, June 1998*
When Steve Jobs returned to Apple in mid-90s, the tech industry dumped on his attempts to bring the company back from the dead – even his frenemy Bill Gates. And with good reason. At the time, Microsoft’s stock was valued at $29 with “a market capitalization of $250 billion,” while Apple’s barely peaked at $7.25.
Gates obviously ignored one of the 10 tech commandments: Thou shalt never underestimate Steve Jobs. Years later, Apple’s become the most profitable company in the world with a market value of $921 billion in 2018.
Now Apple ranks #4 on the Fortune 500 with a stock price of $190.18 and Microsoft, well they are ranked #30 on Fortune with a stock price of $105.23.
*Never-published article for Vanity Fair