Ceo Of Apple Quotes

The ultimate gift, in our digital age, is a CEO who has the storytelling talent to capture the imagination of the markets while surrounding themselves with people who can show incremental progress against that vision each day.

Ed Woolard, his mentor on the Apple board, pressed Jobs for more than two years to drop the interim in front of his CEO title. Not only was Jobs refusing to commit himself, but he was baffling everyone by taking only $1 a year in pay and no stock options. “I make 50 cents for showing up,” he liked to joke, “and the other 50 cents is based on performance.

SCULLEY. Pepsi executive recruited by Jobs in 1983 to be Apple’s CEO, clashed with and ousted

TIM COOK. Steady, calm, chief operating officer hired by Jobs in 1998; replaced Jobs as Apple CEO in August 2011.

Steve Jobs was known for the clarity of his insights about what customers wanted, but he was also known for his volatility with coworkers. Apple’s founder reportedly fired employees in the elevator and screamed at underperforming executives. Perhaps there is something endemic in the fast-paced technology business that causes this behavior, because such intensity is not exactly rare among its CEOs.

There’s a widespread conviction, spoken and unspoken, that the road to riches is trimmed in Ivy and the reins of power held by those who’ve donned Harvard’s crimson, Yale’s blue and Princeton’s orange, not just on their chests but in their souls. No one told that to the Fortune 500. They’re the American corporations with the highest gross revenues. The list is revised yearly. As I write this paragraph in the summer of 2014, the top ten are, in order, Wal-Mart, Exxon Mobil, Chevron, Berkshire Hathaway, Apple, Phillips 66, General Motors, Ford Motor, General Electric and Valero Energy. And here’s the list, in the same order, of schools where their chief executives got their undergraduate degrees: the University of Arkansas; the University of Texas; the University of California, Davis; the University of Nebraska; Auburn; Texas A&M; the General Motors Institute (now called Kettering University); the University of Kansas; Dartmouth College and the University of Missouri–St. Louis. Just one Ivy League school shows up.

Apple CEO Steve Jobs used to talk about a phenomenon called a “bozo explosion,” by which a company’s mediocre early hires rise up through the ranks and end up running departments. The bozos now must hire other people, and of course they prefer to hire bozos.

By a “product person,” Loeb and Wolf meant someone who could get teams of engineers and designers to build software tools that consumers find useful, addictive, or fun. Facebook CEO Mark Zuckerberg was this kind of executive. So was Apple cofounder Steve Jobs.

Predictions that digital tools would allow workers to telecommute were never fully realized. One of Marissa Mayer’s first acts as CEO of Yahoo! was to discourage the practice of working from home, rightly pointing out that “people are more collaborative and innovative when they’re together.” When Steve Jobs designed a new headquarters for Pixar, he obsessed over ways to structure the atrium, and even where to locate the bathrooms, so that serendipitous personal encounters would occur. Among his last creations was the plan for Apple’s new signature headquarters, a circle with rings of open workspaces surrounding a central courtyard. Throughout history

Eisner as Disney CEO in 2005. JONATHAN “JONY” IVE. Chief designer at Apple, became Jobs’s partner and confidant. ABDULFATTAH “JOHN” JANDALI. Syrian-born graduate student in Wisconsin who became biological father of Jobs and Mona Simpson, later a food and beverage manager at the Boomtown casino near Reno. CLARA HAGOPIAN JOBS. Daughter of Armenian

ROBERT IGER. Succeeded Eisner as Disney CEO in 2005. JONATHAN “JONY” IVE. Chief designer at Apple, became Jobs’s partner and confidant. ABDULFATTAH “JOHN” JANDALI. Syrian-born graduate student in Wisconsin who became biological father of Jobs and Mona Simpson, later a food and beverage manager at the Boomtown casino near Reno. CLARA HAGOPIAN JOBS. Daughter of Armenian

Under Steve Jobs, there's zero tolerance for not performing," its CEO said. At another point, when VLSI Technology was having trouble delivering enough chips on time, Jobs stormed into a meeting and started shouting that they were "fucking dickless assholes." The company ended up getting the chips to Apple on time, and its executives made jackets that boasted on the back, "Team FDA.

CEO Gil Amelio stumbled. Ellison may have been baffled when Jobs insisted that he was not motivated by money, but it was partly true. He had neither Ellison’s conspicuous consumption needs nor Gates’s philanthropic impulses nor the competitive urge to see how high on the Forbes list he could get. Instead his ego needs and personal drives led him to seek fulfillment by creating a legacy that would awe people. A dual legacy, actually: building innovative products and building a lasting company. He wanted to be in the pantheon with, indeed a notch above, people like Edwin Land, Bill Hewlett, and David Packard. And the best way to achieve all this was to return to Apple and reclaim his kingdom. And yet when the cup of power neared his lips, he became strangely hesitant, reluctant, perhaps coy. He returned to Apple officially in January 1997 as a part-time advisor, as he had told Amelio he would. He began to assert himself in some personnel areas, especially in protecting his people who had made the transition from NeXT. But in most other ways he was unusually passive. The decision not to ask him to join the board offended him, and he felt demeaned

New Rule: Americans must realize what makes NFL football so great: socialism. That's right, the NFL takes money from the rich teams and gives it to the poorer one...just like President Obama wants to do with his secret army of ACORN volunteers. Green Bay, Wisconsin, has a population of one hundred thousand. Yet this sleepy little town on the banks of the Fuck-if-I-know River has just as much of a chance of making it to the Super Bowl as the New York Jets--who next year need to just shut the hell up and play. Now, me personally, I haven't watched a Super Bowl since 2004, when Janet Jackson's nipple popped out during halftime. and that split-second glimpse of an unrestrained black titty burned by eyes and offended me as a Christian. But I get it--who doesn't love the spectacle of juiced-up millionaires giving one another brain damage on a giant flatscreen TV with a picture so real it feels like Ben Roethlisberger is in your living room, grabbing your sister? It's no surprise that some one hundred million Americans will watch the Super Bowl--that's forty million more than go to church on Christmas--suck on that, Jesus! It's also eighty-five million more than watched the last game of the World Series, and in that is an economic lesson for America. Because football is built on an economic model of fairness and opportunity, and baseball is built on a model where the rich almost always win and the poor usually have no chance. The World Series is like The Real Housewives of Beverly Hills. You have to be a rich bitch just to play. The Super Bowl is like Tila Tequila. Anyone can get in. Or to put it another way, football is more like the Democratic philosophy. Democrats don't want to eliminate capitalism or competition, but they'd like it if some kids didn't have to go to a crummy school in a rotten neighborhood while others get to go to a great school and their dad gets them into Harvard. Because when that happens, "achieving the American dream" is easy for some and just a fantasy for others. That's why the NFL literally shares the wealth--TV is their biggest source of revenue, and they put all of it in a big commie pot and split it thirty-two ways. Because they don't want anyone to fall too far behind. That's why the team that wins the Super Bowl picks last in the next draft. Or what the Republicans would call "punishing success." Baseball, on the other hand, is exactly like the Republicans, and I don't just mean it's incredibly boring. I mean their economic theory is every man for himself. The small-market Pittsburgh Steelers go to the Super Bowl more than anybody--but the Pittsburgh Pirates? Levi Johnston has sperm that will not grow and live long enough to see the Pirates in a World Series. Their payroll is $40 million; the Yankees' is $206 million. The Pirates have about as much chance as getting in the playoffs as a poor black teenager from Newark has of becoming the CEO of Halliburton. So you kind of have to laugh--the same angry white males who hate Obama because he's "redistributing wealth" just love football, a sport that succeeds economically because it does just that. To them, the NFL is as American as hot dogs, Chevrolet, apple pie, and a second, giant helping of apple pie.

In Oklahoma, the CEO of the company that makes McDonald's apple pies told me that she had trouble finding enough Americans to handle modern factory jobs-during a recession. The days of rolling out dough and packing pies in a box were over. She needed people who could read, solve problems and communicate what had happened on their shift, and there weren't enough of them coming out of Oklahoma's high schools and community colleges.

REINHOLD JOBS. Wisconsin-born Coast Guard seaman who, with his wife, Clara, adopted Steve in 1955. REED JOBS. Oldest child of Steve Jobs and Laurene Powell. RON JOHNSON. Hired by Jobs in 2000 to develop Apple’s stores. JEFFREY KATZENBERG. Head of Disney Studios, clashed with Eisner and resigned in 1994 to cofound DreamWorks SKG. ALAN KAY. Creative and colorful computer pioneer who envisioned early personal computers, helped arrange Jobs’s Xerox PARC visit and his purchase of Pixar. DANIEL KOTTKE. Jobs’s closest friend at Reed, fellow pilgrim to India, early Apple employee. JOHN LASSETER. Cofounder and creative force at Pixar. DAN’L LEWIN. Marketing exec with Jobs at Apple and then NeXT. MIKE MARKKULA. First big Apple investor and chairman, a father figure to Jobs. REGIS MCKENNA. Publicity whiz who guided Jobs early on and remained a trusted advisor. MIKE MURRAY. Early Macintosh marketing director. PAUL OTELLINI. CEO of Intel who helped switch the Macintosh to Intel chips but did not get the iPhone business. LAURENE POWELL. Savvy and good-humored Penn graduate, went to Goldman Sachs and then Stanford Business School, married Steve Jobs in 1991. GEORGE RILEY. Jobs’s Memphis-born friend and lawyer. ARTHUR ROCK. Legendary tech investor, early Apple board member, Jobs’s father figure. JONATHAN “RUBY” RUBINSTEIN. Worked with Jobs at NeXT, became chief hardware engineer at Apple in 1997. MIKE SCOTT. Brought in by Markkula to be Apple’s president in 1977 to try to manage Jobs.

ROBERT IGER. Succeeded Eisner as Disney CEO in 2005. JONATHAN “JONY” IVE. Chief designer at Apple, became Jobs’s partner and confidant. ABDULFATTAH “JOHN” JANDALI. Syrian-born graduate student in Wisconsin who became biological father of Jobs and Mona Simpson, later a food and beverage manager at the Boomtown casino near Reno. CLARA HAGOPIAN JOBS. Daughter of Armenian immigrants, married Paul Jobs in 1946; they adopted Steve soon after his birth in 1955. ERIN JOBS. Middle child of Laurene Powell and

By 1996 Apple’s share of the market had fallen to 4% from a high of 16% in the late 1980s. Michael Spindler, the German-born chief of Apple’s European operations who had replaced Sculley as CEO in 1993, tried to sell the company to Sun, IBM, and Hewlett-Packard. That failed, and he was ousted in February 1996 and replaced by Gil Amelio, a research engineer who was CEO of National Semiconductor. During his first year the company lost $1 billion, and the stock price, which had been $70 in 1991, fell to $14, even as the tech bubble was pushing other stocks into the stratosphere.

many tech CEOs strictly regulate their own children’s technology use. When New York Times reporter Nick Bilton talked to Apple cofounder and CEO Steve Jobs in late 2010, he asked Jobs if his kids loved the iPad. “They haven’t used it,” Jobs said. “We limit how much technology our kids use at home.” Bilton was shocked, but he later found that many other tech experts also limited their children’s screen time, from the cofounder of Twitter to the former editor of Wired magazine. So even people who love technology—and make a living off it—are cautious about their kids using it too much. As Adam Alter put it in his book Irresistible, “It seemed as if the people producing tech products were following the cardinal rule of drug dealing: Never get high on your own supply.

There was, of course, one other option. Two years earlier Macworld magazine columnist (and former Apple software evangelist) Guy Kawasaki had published a parody press release joking that Apple was buying NeXT and making Jobs its CEO. In the spoof Mike Markkula asked Jobs, “Do you want to spend the rest of your life selling UNIX with a sugarcoating, or change the world?” Jobs responded, “Because I’m now a father, I needed a steadier source of income.” The release noted that “because of his experience at Next, he is expected to bring a newfound sense of humility back to Apple.” It also quoted Bill Gates as saying there would now be more innovations from Jobs that Microsoft could copy. Everything in the press release was meant as a joke, of course. But reality has an odd habit of catching up with satire.

Ed Woolard, his mentor on the Apple board, pressed Jobs for more than two years to drop the interim in front of his CEO title. Not only was Jobs refusing to commit himself, but he was baffling everyone by taking only $1 a year in pay and no stock options. “I make 50 cents for showing up,” he liked to joke, “and the other 50 cents is based on performance.” Since his return in July 1997, Apple stock had gone from just under $14 to just over $102 at the peak of the Internet bubble at the beginning of 2000. Woolard had begged him to take at least a modest stock grant back in 1997, but Jobs had declined, saying, “I don’t want the people I work with at Apple to think I am coming back to get rich.” Had he accepted that modest grant, it would have been worth $400 million. Instead he made $2.50 during that period.

He had told Larry Ellison that his return strategy was to sell NeXT to Apple, get appointed to the board, and be there ready when CEO Gil Amelio stumbled. Ellison may have been baffled when Jobs insisted that he was not motivated by money, but it was partly true. He had neither Ellison’s conspicuous consumption needs nor Gates’s philanthropic impulses nor the competitive urge to see how high on the Forbes list he could get. Instead his ego needs and personal drives led him to seek fulfillment by creating a legacy that would awe people. A dual legacy, actually: building innovative products and building a lasting company. He wanted to be in the pantheon with, indeed a notch above, people like Edwin Land, Bill Hewlett, and David Packard. And the best way to achieve all this was to return to Apple and reclaim his kingdom.

How, then, can Apple claim to be 100 percent renewable? It purchases a fraudulent “100 percent renewable” status from electricity producers. The basic way this works is that Apple pays utilities to give it credit for the solar and wind that others use—and to give others the blame for the coal, gas, and nuclear that Apple uses. It’s as if Apple CEO Tim Cook were traveling with nine other people on a yacht powered 90 percent by diesel and 10 percent by a sail—and Cook claimed that he traveled just using the sail, while the others traveled using the diesel. This energy accounting fraud is shameful and destructive, because it leads us to think that we can have innovators like Apple without the uniquely cost-effective energy we get from fossil fuels. Even worse, leading company after leading company, including Facebook, Google, Bank of America, and Anheuser-Busch, is claiming to be 100 percent renewable.[18]

served as CEO of two public companies, even temporarily, and I wasn’t even sure it was legal. I didn’t know what I wanted to do. I was enjoying spending more time with my family. I was torn. I knew Apple was a mess, so I wondered: Do I want to give up this nice lifestyle that I have? What are all the Pixar shareholders going to think? I talked to people I respected. I finally called Andy Grove at about eight one Saturday morning—too early. I gave him the pros and the cons, and in the middle he stopped me and said, “Steve, I don’t give a shit about Apple.” I was stunned. It was then I realized that I do give a shit about Apple—I started it and it is a good thing to have in the world. That was when I decided to go back on a temporary basis to help them hire a CEO. The claim that he was enjoying spending more time with his family was not convincing. He was never destined to win a Father of the Year trophy, even when he had spare time on his hands. He was getting better at paying heed to his children, especially Reed, but his primary focus was on his work. He was frequently aloof from his two younger daughters, estranged again from Lisa, and often prickly as a husband. So what was the real reason for his hesitancy in taking over at Apple? For all of his willfulness and insatiable desire to control things, Jobs was indecisive and reticent when he felt unsure about something. He craved perfection, and he was not always good at figuring out how to settle for something less. He did not like to wrestle with complexity or make accommodations. This was true in products, design, and furnishings for the house. It was also true when it came to personal commitments. If he knew

History favors the bold. Compensation favors the meek. As a Fortune 500 company CEO, you’re better off taking the path often traveled and staying the course. Big companies may have more assets to innovate with, but they rarely take big risks or innovate at the cost of cannibalizing a current business. Neither would they chance alienating suppliers or investors. They play not to lose, and shareholders reward them for it—until those shareholders walk and buy Amazon stock. Most boards ask management: “How can we build the greatest advantage for the least amount of capital/investment?” Amazon reverses the question: “What can we do that gives us an advantage that’s hugely expensive, and that no one else can afford?” Why? Because Amazon has access to capital with lower return expectations than peers. Reducing shipping times from two days to one day? That will require billions. Amazon will have to build smart warehouses near cities, where real estate and labor are expensive. By any conventional measure, it would be a huge investment for a marginal return. But for Amazon, it’s all kinds of perfect. Why? Because Macy’s, Sears, and Walmart can’t afford to spend billions getting the delivery times of their relatively small online businesses down from two days to one. Consumers love it, and competitors stand flaccid on the sidelines. In 2015, Amazon spent $7 billion on shipping fees, a net shipping loss of $5 billion, and overall profits of $2.4 billion. Crazy, no? No. Amazon is going underwater with the world’s largest oxygen tank, forcing other retailers to follow it, match its prices, and deal with changed customer delivery expectations. The difference is other retailers have just the air in their lungs and are drowning. Amazon will surface and have the ocean of retail largely to itself.

SCULLEY. Pepsi executive recruited by Jobs in 1983 to be Apple’s CEO, clashed with and ousted Jobs in 1985. JOANNE SCHIEBLE JANDALI SIMPSON. Wisconsin-born biological mother of Steve Jobs, whom she put up for adoption, and Mona Simpson, whom she raised. MONA SIMPSON. Biological full sister of Jobs; they discovered their relationship in 1986 and became close. She wrote novels loosely based on her mother Joanne (Anywhere but Here), Jobs and his daughter Lisa (A Regular Guy), and her father Abdulfattah Jandali (The Lost Father). ALVY RAY SMITH. A cofounder of Pixar who clashed with Jobs. BURRELL SMITH. Brilliant, troubled hardware designer on the original Mac team, afflicted with schizophrenia in the 1990s. AVADIS “AVIE” TEVANIAN. Worked with Jobs and Rubinstein at NeXT, became chief software engineer at Apple in 1997. JAMES VINCENT. A music-loving Brit, the younger partner with Lee Clow and Duncan Milner at the ad agency Apple hired. RON WAYNE. Met Jobs at Atari, became first partner with Jobs and Wozniak at fledgling Apple, but unwisely decided to forgo his equity stake. STEPHEN WOZNIAK. The star electronics geek at Homestead High; Jobs figured out how to package and market his amazing circuit boards and became his partner in founding Apple. DEL YOCAM. Early Apple employee who became the General Manager of the Apple II Group and later Apple’s Chief Operating Officer. INTRODUCTION How This Book Came to Be In the early summer of 2004, I got a phone call from Steve Jobs. He had been scattershot friendly to me over the years, with occasional bursts of intensity, especially when he was launching a new product that he wanted on the cover of Time or featured on CNN, places where I’d worked. But now that I was no longer at either of those places, I hadn’t heard from him much. We talked a bit about the Aspen Institute, which I had recently joined, and I invited him to speak at our summer campus in Colorado. He’d be happy to come, he said, but not to be onstage. He wanted instead to take a walk so that we could talk. That seemed a bit odd. I didn’t yet

We’d just taken Pixar public, and I was happy being CEO there. I never knew of anyone who served as CEO of two public companies, even temporarily, and I wasn’t even sure it was legal. I didn’t know what I wanted to do. I was enjoying spending more time with my family. I was torn. I knew Apple was a mess, so I wondered: Do I want to give up this nice lifestyle that I have? What are all the Pixar shareholders going to think? I talked to people I respected. I finally called Andy Grove at about eight one Saturday morning—too early. I gave him the pros and the cons, and in the middle he stopped me and said, “Steve, I don’t give a shit about Apple.” I was stunned. It was then I realized that I do give a shit about Apple—I started it and it is a good thing to have in the world. That was when I decided to go back on a temporary basis to help them hire a CEO. The claim that he was enjoying spending more time with his family was not convincing. He was never destined to win a Father of the Year trophy, even when he had spare time on his hands. He was getting better at paying heed to his children, especially Reed, but his primary focus was on his work. He was frequently aloof from his two younger daughters, estranged again from Lisa, and often prickly as a husband. So what was the real reason for his hesitancy in taking over at Apple? For all of his willfulness and insatiable desire to control things, Jobs was indecisive and reticent when he felt unsure about something. He craved perfection, and he was not always good at figuring out how to settle for something less. He did not like to wrestle with complexity or make accommodations. This was true in products, design, and furnishings for the house. It was also true when it came to personal commitments. If he knew for sure a course of action was right, he was unstoppable. But if he had doubts, he sometimes withdrew, preferring not to think about things that did not perfectly suit him. As happened when Amelio had asked him what role he wanted to play, Jobs would go silent and ignore situations that made him uncomfortable.

Even though the Internet provided a tool for virtual and distant collaborations, another lesson of digital-age innovation is that, now as in the past, physical proximity is beneficial. There is something special, as evidenced at Bell Labs, about meetings in the flesh, which cannot be replicated digitally. The founders of Intel created a sprawling, team-oriented open workspace where employees from Noyce on down all rubbed against one another. It was a model that became common in Silicon Valley. Predictions that digital tools would allow workers to telecommute were never fully realized. One of Marissa Mayer’s first acts as CEO of Yahoo! was to discourage the practice of working from home, rightly pointing out that “people are more collaborative and innovative when they’re together.” When Steve Jobs designed a new headquarters for Pixar, he obsessed over ways to structure the atrium, and even where to locate the bathrooms, so that serendipitous personal encounters would occur. Among his last creations was the plan for Apple’s new signature headquarters, a circle with rings of open workspaces surrounding a central courtyard. Throughout history the best leadership has come from teams that combined people with complementary styles. That was the case with the founding of the United States. The leaders included an icon of rectitude, George Washington; brilliant thinkers such as Thomas Jefferson and James Madison; men of vision and passion, including Samuel and John Adams; and a sage conciliator, Benjamin Franklin. Likewise, the founders of the ARPANET included visionaries such as Licklider, crisp decision-making engineers such as Larry Roberts, politically adroit people handlers such as Bob Taylor, and collaborative oarsmen such as Steve Crocker and Vint Cerf. Another key to fielding a great team is pairing visionaries, who can generate ideas, with operating managers, who can execute them. Visions without execution are hallucinations.31 Robert Noyce and Gordon Moore were both visionaries, which is why it was important that their first hire at Intel was Andy Grove, who knew how to impose crisp management procedures, force people to focus, and get things done. Visionaries who lack such teams around them often go down in history as merely footnotes.

I believe that social media, and the internet as a whole, have negatively impacted our ability to both think long-term and to focus deeply on the task in front of us. It is no surprise, therefore, that Apple CEO, Steve Jobs, prohibited his children from using phones or tablets—even though his business was to sell millions of them to his customers! The billionaire investor and former senior executive at Facebook, Chamath Palihapitiya, argues that we must rewire our brain to focus on the long term, which starts by removing social media apps from our phones. In his words, such apps, “wire your brain for super-fast feedback.” By receiving constant feedback, whether through likes, comments, or immediate replies to our messages, we condition ourselves to expect fast results with everything we do. And this feeling is certainly reinforced through ads for schemes to help us “get rich quick”, and through cognitive biases (i.e., we only hear about the richest and most successful YouTubers, not about the ones who fail). As we demand more and more stimulation, our focus is increasingly geared toward the short term and our vision of reality becomes distorted. This leads us to adopt inaccurate mental models such as: Success should come quickly and easily, or I don’t need to work hard to lose weight or make money. Ultimately, this erroneous concept distorts our vision of reality and our perception of time. We can feel jealous of people who seem to have achieved overnight success. We can even resent popular YouTubers. Even worse, we feel inadequate. It can lead us to think we are just not good enough, smart enough, or disciplined enough. Therefore, we feel the need to compensate by hustling harder. We have to hurry before we miss the opportunity. We have to find the secret that will help us become successful. And, in this frenetic race, we forget one of the most important values of all: patience. No, watching motivational videos all day long won’t help you reach your goals. But, performing daily consistent actions, sustained over a long period of time will. Staying calm and focusing on the one task in front of you every day will. The point is, to achieve long-term goals in your personal or professional life, you must regain control of your attention and rewire your brain to focus on the long term. To do so, you should start by staying away from highly stimulating activities.

me to be honest about his failings as well as his strengths. She is one of the smartest and most grounded people I have ever met. “There are parts of his life and personality that are extremely messy, and that’s the truth,” she told me early on. “You shouldn’t whitewash it. He’s good at spin, but he also has a remarkable story, and I’d like to see that it’s all told truthfully.” I leave it to the reader to assess whether I have succeeded in this mission. I’m sure there are players in this drama who will remember some of the events differently or think that I sometimes got trapped in Jobs’s distortion field. As happened when I wrote a book about Henry Kissinger, which in some ways was good preparation for this project, I found that people had such strong positive and negative emotions about Jobs that the Rashomon effect was often evident. But I’ve done the best I can to balance conflicting accounts fairly and be transparent about the sources I used. This is a book about the roller-coaster life and searingly intense personality of a creative entrepreneur whose passion for perfection and ferocious drive revolutionized six industries: personal computers, animated movies, music, phones, tablet computing, and digital publishing. You might even add a seventh, retail stores, which Jobs did not quite revolutionize but did reimagine. In addition, he opened the way for a new market for digital content based on apps rather than just websites. Along the way he produced not only transforming products but also, on his second try, a lasting company, endowed with his DNA, that is filled with creative designers and daredevil engineers who could carry forward his vision. In August 2011, right before he stepped down as CEO, the enterprise he started in his parents’ garage became the world’s most valuable company. This is also, I hope, a book about innovation. At a time when the United States is seeking ways to sustain its innovative edge, and when societies around the world are trying to build creative digital-age economies, Jobs stands as the ultimate icon of inventiveness, imagination, and sustained innovation. He knew that the best way to create value in the twenty-first century was to connect creativity with technology, so he built a company where leaps of the imagination were combined with remarkable feats of engineering. He and his colleagues at Apple were able to think differently: They developed not merely modest product advances based on focus groups, but whole new devices and services that consumers did not yet know they needed. He was not a model boss or human being, tidily packaged for emulation. Driven by demons, he could drive those around him to fury and despair. But his personality and passions and products were all interrelated, just as Apple’s hardware and software tended to be, as if part of an integrated system. His tale is thus both instructive and cautionary, filled with lessons about innovation, character, leadership, and values.

By 2025, even drug dealers will not take cash. South Korea plans to have no cash at all by 2020.1 In Sweden, the European country going cashless first, buskers use contactless machines. A new app, BuSK, lets Londoners do the same thing. In Holland, a coat developed for the homeless allows people to give money by swiping a card on their sleeve.2 Physical money in your hand – a system of payment that began 600 years before the birth of Christ – is coming to an end. Apple’s CEO Tim Cook says the next generation ‘will not even know what money was.

As we thought about what would make us both better and different, two core ideas greatly influenced our thinking: First, technical founders are the best people to run technology companies. All of the long-lasting technology companies that we admired—Hewlett-Packard, Intel, Amazon, Apple, Google, Facebook—had been run by their founders. More specifically, the innovator was running the company. Second, it was incredibly difficult for technical founders to learn to become CEOs while building their companies. I was a testament to that. But, most venture capital firms were better designed to replace the founder than to help the founder grow and succeed. Marc and I thought that if we created a firm specifically designed to help technical founders run their own companies, we could develop a reputation and a brand that might vault us into the top tier of venture capital firms despite having no track record. We identified two key deficits that a founder CEO had when compared with a professional CEO: 1. The CEO skill set Managing executives, organizational design, running sales organizations and the like were all important skills that technical founders lacked. 2. The CEO network Professional CEOs knew lots of executives, potential customers and partners, people in the press, investors, and other important business connections. Technical founders, on the other hand, knew some good engineers and how to program.

It is a matter of legal record that, for years, the CEOs of Apple, Intel, Google, Pixar, and other Silicon Valley firms operated something very much like a cartel against their own employees. In a scandal that journalists now call “the Techtopus,” these worthies agreed to avoid recruiting one another’s tech workers and thus keep those workers’ wages down across the industry. In 2007, in one of the most famous chapters of the Techtopus story, the famous innovator Steve Jobs emailed Eric Schmidt, demanding that this CEO and friend of top Democrats do something about a Google recruiter who was trying to lure an employee away from Apple. Two days later, according to the reporter who has studied the case most comprehensively, Schmidt wrote back to Jobs to tell him the recruiter had been fired. Jobs then forwarded Schmidt’s email around with this comment appended: “:)

the autonomous-driving side of things, Alphabet (formerly Google), which has logged several million self-driving-car test miles, continues to lead the pack. At the end of 2016, it created a new business division, called Waymo, for its autonomous driving technology. In May 2017, Waymo and Lyft announced that they would work together on developing the technology, and later in the year, Alphabet invested $1 billion in the start-up. Others, like Cruise Automation (which GM acquired for $1 billion) and Comma.ai, which offers open-source autonomous driving technology in the same vein as Google’s Android mobile operating system, are chasing hard. Baidu, China’s leading Internet search company, has an autonomous-driving research center in Sunnyvale. Byton—backed by China’s Tencent, Foxconn, and the China Harmony New Energy auto retailer group—has an office in Mountain View, as does Didi Chuxing, the Chinese ride-sharing company in which Apple invested $1 billion. Many of these companies have taken not just inspiration but also talent from Tesla. Part of the value of an innovation cluster like Silicon Valley lies in the dispersal of intellectual labor from one node to the next. For instance, PayPal is well known in the Valley for producing a number of high performers who left the company to start, join, or invest in others. The so-called PayPal Mafia includes Reid Hoffman, who founded LinkedIn; Max Levchin, whose most recent of several start-ups is the financial services company Affirm; Peter Thiel, a Facebook board member and President Trump–supporting venture capitalist who cofounded “big data” company Palantir; Jeremy Stoppelman, who started reviews site Yelp; Keith Rabois, who was chief operating officer at Square and then joined Khosla Ventures; David Sacks, who sold Yammer to Microsoft for $1.2 billion and later became CEO at Zenefits; Jawed Karim, who cofounded YouTube; and one Elon Musk.

When we asked Woolard about the most important lessons from his Apple experience, he reported that a board leader has to have regular access to the chief financial officer, deeply understand the company strategy and execution—and pick and partner with the right CEO.

I often suggest they think about making a limited investment, putting aside maybe only 1 percent of their budget for special projects to test out a new idea. In this way, risk stops being scary and becomes R&D. Talk to private sector CEOs and they will be quick to point out that R&D is the lifeblood of innovative companies. Yes, some things will fail as you discover what works and what doesn’t. But as Einstein reportedly said, “You never fail until you stop trying.” This is true whether you’re launching a program, developing a product, or starting a movement. I’ve often heard people from the social sector protest, “But we don’t have funding for R&D!” My response is to remind them of the words of one of our greatest modern-day innovators, Steve Jobs: “Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least one hundred times more on R&D. It’s not about money. It’s about the people you have, how you’re led, and how much you get it.” You don’t need a big budget in order to experiment. “You never fail until you stop trying.” —ALBERT EINSTEIN Realistically, budgets are often stretched and funding for programs “locked.” I see this especially with foundations or government programs, which can have rigid protocols. When nonprofits or governments experiment and fail, those failures are often labeled as waste or fraud or abuse, which discourages more risk taking.

To deepen alignment across specialties, the Apple organizational structure was very different from that of most other firms. There were no product divisions that were their own profit centers. “We run one P&L for the company,” said operations head Tim Cook (who became CEO after Jobs’s death).8 Thus, divisions did not compete against each other for customers or worry about "cannibalization.” This proved a huge competitive advantage when Apple introduced the iPod and iTunes. Rival Sony, rich in assets that could have given Apple a run for its money, was undermined by their organization structure, which was divided into profit centers that drove focus on product lines but hampered collaboration across these lines. Sony’s music division and their consumer electronics division were never able to successfully join forces to compete against Apple. Conversely, at Apple, all departments could celebrate a sale, whether a consumer chose to download music through their iPod or iPhone, or send emails using an iPad or MacBook.

Research from Brunel University shows that chess students who trained with coaches increased on average 168 points in their national ratings versus those who didn’t. Though long hours of deliberate practice are unavoidable in the cognitively complex arena of chess, the presence of a coach for mentorship gives players a clear advantage. Chess prodigy Joshua Waitzkin (the subject of the film Searching for Bobby Fischer) for example, accelerated his career when national chess master Bruce Pandolfini discovered him playing chess in Washington Square Park in New York as a boy. Pandolfini coached young Waitzkin one on one, and the boy won a slew of chess championships, setting a world record at an implausibly young age. Business research backs this up, too. Analysis shows that entrepreneurs who have mentors end up raising seven times as much capital for their businesses, and experience 3.5 times faster growth than those without mentors. And in fact, of the companies surveyed, few managed to scale a profitable business model without a mentor’s aid. Even Steve Jobs, the famously visionary and dictatorial founder of Apple, relied on mentors, such as former football coach and Intuit CEO Bill Campbell, to keep himself sharp. SO, DATA INDICATES THAT those who train with successful people who’ve “been there” tend to achieve success faster. The winning formula, it seems, is to seek out the world’s best and convince them to coach us. Except there’s one small wrinkle. That’s not quite true. We just held up Justin Bieber as an example of great, rapid-mentorship success. But since his rapid rise, he’s gotten into an increasing amount of trouble. Fights. DUIs. Resisting arrest. Drugs. At least one story about egging someone’s house. It appears that Bieber started unraveling nearly as quickly as he rocketed to Billboard number one. OK, first of all, Bieber’s young. He’s acting like the rock star he is. But his mentor, Usher, also got to Billboard number one at age 18, and he managed to dominate pop music for a decade without DUIs or egg-vandalism incidents. Could it be that Bieber missed something in the mentorship process? History, it turns out, is full of people who’ve been lucky enough to have amazing mentors and have stumbled anyway.

Steve Jobs, the cofounder and former CEO of Apple Computer, amplified this sentiment in a 1994 interview by saying that the key to creativity is to expose yourself “to the best things that humans have done and then to bring those things into what you are doing.

People think focus means saying yes to the thing you’ve got to focus on. But that’s not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I’m actually as proud of the things we haven’t done as the things I have done. Innovation is saying no to 1,000 things.” –Steve Jobs Co-founder and former CEO of Apple

Around $300,000 of the total $600,000 that was raised by Augur's funding team comes from a man named Joe Costello. Costello is a successful tech entrepreneur, known to be one of Steve Jobs' top picks for the new CEO position of Apple itself. Following the smart money isn’t always a dumb idea. Gambling or casino are terms never used by Joey Krug, a young Pomona college dropout, but also Augur's lead developer. He and the small team of just five employees use the term “prediction market.” Due

In a company organized along functional rather than divisional lines, scouting must be a core competency of its leader. Steve Jobs long considered the issue of spotting and grooming talent to be one of the most important aspects of being an entrepreneur and a CEO.

Apple’s founder reportedly fired employees in the elevator and screamed at underperforming executives. Perhaps there is something endemic in the fast-paced technology business that causes this behavior, because such intensity is not exactly rare among its CEOs. Bill Gates used to throw epic tantrums. Steve Ballmer, his successor at Microsoft, had a propensity for throwing chairs. Andy Grove, the longtime CEO of Intel, was known to be so harsh and intimidating that a subordinate once fainted during a performance review.

Amid a series of heated meetings in early 2019, Cook and Ahrendts agreed to part ways. An abrupt announcement in February that she would leave ignited rumors that she had been fired. Apple’s public relations team swung into action to suppress the rumors, pushing a story that the departure had been planned. Indeed, Ahrendts told friends, she was ready to leave. She had spent five years at the company and made $173 million. She was ready to exit an empire where an aloof CEO assaulted staff with interrogation.

A similar financial review of another outside consultancy had been so stressful that the firm’s CEO had had a heart attack in the middle of the process, even as the audit had found no improprieties

Apple’s senior leadership in China issued a warning to Cook: Things could get bad. They implored their aloof and robotic CEO to strike a balance between America’s volatile reality-TV star and China’s unpredictable autocrat.

Jobs noticed that when the heart gave him an intuition, it was for him a command that he had to follow, regardless of the opinions of others. The only thing that mattered was finding a way to give shape to the intuition. For Jobs, the vegan diet, Zen meditation, a life immersed in nature, abstention from alcohol and coffee were necessary to nourish his inner voice, the voice of his heart and strengthen his ability to intuit the future. At the same time, this caused great difficulties. He was sensitive, intuitive, irrational and nervous. He was aware of the limitations that his irrationality caused in handling a large company, such as Apple Computer, and chose a rationalist manager to run the company: John Sculley, a famous manager he admired but with whom he entered continually in conflict, to the point that in 1985 the board of directors decided to fire Jobs from Apple, the company he had founded. Apple Computer continued to make money for a while with the products designed by Jobs, but after a few years the decline began and in the mid-1990s it came to the brink of bankruptcy. On December 21, 1996, the board of directors asked Jobs to return as the president’s personal advisor. Jobs accepted. He asked for a salary of one dollar a year in exchange for the guarantee that his insights, even if crazy, were accepted unconditionally. In a few months he revolutionized the products and on September 16, 1997 he became interim CEO. Apple Computer resurrected in less than a year. How did he manage? He believed that we should not let the noise of others’ opinions dull our inner voice. And, more importantly, he repeated that we must always have the courage to believe in our heart and in our intuitions, because they already know the future and know where we need to go. For Jobs, everything else was secondary.

THAT PHONE CALL to Clow was the beginning of Steve’s first big move as iCEO. Steve decided Apple needed an advertising campaign to reaffirm Apple’s old core values: creativity and the power of the individual. It needed to be something radically unlike the meek and confused product advertising that Apple had been offering consumers for years. Instead, this campaign would celebrate the company—not the company as it was that summer of 1997, but the company Steve imagined Apple should be. On the surface, it seemed an outrageous and perhaps spendthrift goal, given the company’s losses and layoffs. But Steve was insistent. And that’s why Clow made the journey north from TBWA\Chiat\Day’s offices in the Venice section of Los Angeles to Apple headquarters in Cupertino.

founders and CEOs of Apple, Google, and even the explicitly kid-targeted Snapchat app (!)—go to concerted lengths to limit their own kids’ screen time at home.[*][14] Tellingly, the late Apple CEO Steve Jobs forbade his young children to play with the then newly launched iPad.

But Steve was a parent CEO. A pushy parent. A tiger mom. He knew if we kept pushing, together, we’d figure it out. The sacrifices would be worth it. And he was right. That time. But not every time. Steve took a lot of risks, made bad decisions, launched products that didn’t work—the original Apple III, the Motorola ROKR iTunes phone, the Power Mac G4 Cube, the list goes on. But if you aren’t failing, you aren’t trying hard enough. He learned from the screwups, was constantly improving, and his good ideas, his successes, totally wiped away his failures. He was constantly pushing the company to learn and try new things.

Apple employees are spared such intrusions because they are “scared silent.” As Adam Lashinsky reports in Inside Apple, employees know that revealing company secrets will get them fired on the spot. This penchant for secrecy means the small teams that do most of the work at Apple are given only the slivers of information that executives believe they need. A few years ago, we talked to a senior Apple executive who speculated—but, of course, didn’t know—that CEO Tim Cook might be the only person who knew all the major features of the next iPhone.

What Musk had done that the rival automakers missed or didn’t have the means to combat was turn Tesla into a lifestyle. It did not just sell someone a car. It sold them an image, a feeling they were tapping into the future, a relationship. Apple did the same thing decades ago with the Mac and then again with the iPod and iPhone. Even those who were not religious about their affiliation to Apple were sucked into its universe once they bought the hardware and downloaded software like iTunes. This sort of relationship is hard to pull off if you don’t control as much of the lifestyle as possible. PC makers that farmed their software out to Microsoft, their chips to Intel, and their design to Asia could never make machines as beautiful and as complete as Apple’s. They also could not respond in time as Apple took this expertise to new areas and hooked people on its applications. You

There’s the potential that Tesla is setting itself up to capitalize on a situation like the one Apple found itself in when it first introduced the iPhone. Apple’s rivals spent the initial year after the iPhone’s release dismissing the product. Once it became clear Apple had a hit, the competitors had to catch up. Even with the device right in their hands, it took companies like HTC and Samsung years to produce anything comparable. Other once-great companies like Nokia and BlackBerry didn’t withstand the shock. If, and it’s a big if, Tesla’s Model 3 turned into a massive hit—the thing that everyone with enough money wanted because buying something else would just be paying for the past—then the rival automakers would be in a terrible bind. Most of the car companies dabbling in electric vehicles continue to buy bulky, off-the-shelf batteries rather than developing their own technology. No matter how much they wanted to respond to the Model 3, the automakers would need years to come up with a real challenger and even then they might not have a ready supply of batteries for their vehicles. “I think it is going to be a bit like that,” Musk said. “When will the first non-Tesla Gigafactory get built? Probably no sooner than six years from now. The big car companies are so derivative. They want to see it work somewhere else before they will approve the project and move forward. They’re probably more like seven years away. But I hope I’m wrong.” Musk

Initially working out of our home in Northern California, with a garage-based lab, I wrote a one page letter introducing myself and what we had and posted it to the CEOs of twenty-two Fortune 500 companies. Within a couple of weeks, we had received seventeen responses, with invitations to meetings and referrals to heads of engineering departments. I met with those CEOs or their deputies and received an enthusiastic response from almost every individual. There was also strong interest from engineers given the task of interfacing with us. However, support from their senior engineering and product development managers was less forthcoming. We learned that many of the big companies we had approached were no longer manufacturers themselves but assemblers of components or were value-added reseller companies, who put their famous names on systems that other original equipment manufacturers (OEMs) had built. That didn't daunt us, though when helpful VPs of engineering at top-of-the-food-chain companies referred us to their suppliers, we found that many had little or no R & D capacity, were unwilling to take a risk on outside ideas, or had no room in their already stripped-down budgets for innovation. Our designs found nowhere to land. It became clear that we needed to build actual products and create an apples-to-apples comparison before we could interest potential manufacturing customers. Where to start? We created a matrix of the product areas that we believed PAX could impact and identified more than five hundred distinct market sectors-with potentially hundreds of thousands of products that we could improve. We had to focus. After analysis that included the size of the addressable market, ease of access, the cost and time it would take to develop working prototypes, the certifications and metrics of the various industries, the need for energy efficiency in the sector, and so on, we prioritized the list to fans, mixers, pumps, and propellers. We began hand-making prototypes as comparisons to existing, leading products. By this time, we were raising working capital from angel investors. It's important to note that this was during the first half of the last decade. The tragedy of September 11, 2001, and ensuing military actions had the world's attention. Clean tech and green tech were just emerging as terms, and energy efficiency was still more of a slogan than a driver for industry. The dot-com boom had busted. We'd researched venture capital firms in the late 1990s and found only seven in the United States investing in mechanical engineering inventions. These tended to be expansion-stage investors that didn't match our phase of development. Still, we were close to the famous Silicon Valley and had a few comical conversations with venture capitalists who said they'd be interested in investing-if we could turn our technology into a website. Instead, every six months or so, we drew up a budget for the following six months. Via a growing network of forward-thinking private investors who could see the looming need for dramatic changes in energy efficiency and the performance results of our prototypes compared to currently marketed products, we funded the next phase of research and business development.

A few months later, Procter & Gamble tried something similar. Its CEO, A. G. Lafley, had begun talking about the need for P&G to get closer to its consumers. After reading about this, Facebook ad salesman Colleran did one of his masterful cold calls to find out if P&G was targeting any of its brands at the college market. It turned out that while P&G’s Crest White Strips teeth-whitening product had never been aimed specifically at college students, company data showed that the strips sold particularly well at Wal-Marts located near campuses. Colleran and P&G marketers came up with a Facebook campaign called Smile State. Much as Chase and Apple had done, P&G created a sponsored group on Facebook for Crest White Strips. It advertised the Smile State group only to users who were students at one of twenty large state universities located near Wal-Marts. Any student who joined got tickets to an upcoming college-oriented Matthew McConaughey movie called We Are Marshall. In addition, the schools that enrolled the most members in the Crest White Strips group got a concert organized by Def Jam Records. Over 20,000 people joined. To have 20,000 people explicitly expressing affinity for Crest White Strips using their real name is the kind of thing that gives marketers goose bumps. It was a huge win for P&G and for Facebook.

The minute I dropped out I could stop taking the required classes that didn’t interest me, and begin dropping in on the ones that looked interesting. It wasn’t all romantic. I didn’t have a dorm room, so I slept on the floor in friends’ rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the seven miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example: Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn’t have to take the normal classes, I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can’t capture, and I found it fascinating. None of this had even a hope of any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, it’s likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later. Again, you can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something—your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life. The narrator of this story is Steve Jobs, the legendary CEO of Apple. The story was part of his famous Stanford commencement speech in 2005.[23] It’s a perfect illustration of how passion and purpose drive success, not the crossing of an imaginary finish line in the future. Forget the finish line. It doesn’t exist. Instead, look for passion and purpose directly in front of you. The dots will connect later, I promise—and so does Steve.

It happened in 2006 when the company’s COO and soon-to-be CEO, Randall Stephenson, quietly struck a deal with Steve Jobs for AT&T to be the exclusive service provider in the United States for this new thing called the iPhone. Stephenson knew that this deal would stretch the capacity of AT&T’s networks, but he didn’t know the half of it. The iPhone came on so fast, and the need for capacity exploded so massively with the apps revolution, that AT&T found itself facing a monumental challenge. It had to enlarge its capacity, practically overnight, using the same basic line and wireless infrastructure it had in place. Otherwise, everyone who bought an iPhone was going to start experiencing dropped calls. AT&T’s reputation was on the line—and Jobs would not have been a happy camper if his beautiful phone kept dropping calls. To handle the problem, Stephenson turned to his chief of strategy, John Donovan, and Donovan enlisted Krish Prabhu, now president of AT&T Labs. Donovan picks up the story: “It’s 2006, and Apple is negotiating the service contracts for the iPhone. No one had even seen one. We decided to bet on Steve Jobs. When the phone first came out [in 2007] it had only Apple apps, and it was on a 2G network. So it had a very small straw, but it worked because people only wanted to do a few apps that came with the phone.” But then Jobs decided to open up the iPhone, as the venture capitalist John Doerr had suggested, to app developers everywhere. Hello, AT&T! Can you hear me now? “In 2008 and 2009, as the app store came on stream, the demand for data and voice just exploded—and we had the exclusive contract” to provide the bandwidth, said Donovan, “and no one anticipated the scale. Demand exploded a hundred thousand percent [over the next several years]. Imagine the Bay Bridge getting a hundred thousand percent more traffic. So we had a problem. We had a small straw that went from feeding a mouse to feeding an elephant and from a novelty device to a necessity” for everyone on the planet. Stephenson insisted AT&T offer unlimited data, text, and voice. The Europeans went the other way with more restrictive offerings. Bad move. They were left as roadkill by the stampede for unlimited data, text, and voice. Stephenson was right, but AT&T just had one problem—how to deliver on that promise of unlimited capacity without vastly expanding its infrastructure overnight, which was physically impossible. “Randall’s view was ‘never get in the way of demand,’” said Donovan. Accept it, embrace it, but figure out how to satisfy it fast before the brand gets killed by dropped calls. No one in the public knew this was going on, but it was a bet-the-business moment for AT&T, and Jobs was watching every step from Apple headquarters.

Tim Cook was a master of spreadsheets, not innovation. Since Cook had taken charge, legions of young MBAs had been hired to help feed the new CEO’s love of data crunching. For Christensen, that was a huge red flag. “When we teach people to be data-driven, we condemn them to take action when the game is over because there’s no data about the future,” said Christensen, adding facetiously that when he died, he planned to ask God why he only made data available about the past.

In the words of Apple co-founder and CEO Steve Jobs: Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma—which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary … You’ve got to find what you love …The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it.

world until he was forty. Despite the late start, Bill eventually became the chairman and CEO of Intuit. Following that, he became a legend in high tech, mentoring great CEOs such as Steve Jobs of Apple, Jeff Bezos of Amazon, and Eric Schmidt of Google. Bill is extremely smart, super-charismatic, and

What Musk had done that the rival automakers missed or didn’t have the means to combat was turn Tesla into a lifestyle. It did not just sell someone a car. It sold them an image, a feeling they were tapping into the future, a relationship. Apple did the same thing decades ago with the Mac and then again with the iPod and iPhone. Even those who were not religious about their affiliation to Apple were sucked into its universe once they bought the hardware and downloaded software like iTunes. This sort of relationship is hard to pull off if you don’t control as much of the lifestyle as possible. PC makers that farmed their software out to Microsoft, their chips to Intel, and their design to Asia could never make machines as beautiful and as complete as Apple’s. They also could not respond in time as Apple took this expertise to new areas and hooked people on its applications. You can see Musk’s embrace of the car as lifestyle in Tesla’s abandonment of model years. Tesla does not designate cars as being 2014s or 2015s, and it also doesn’t have “all the 2014s in stock must go, go, go and make room for the new cars” sales. It produces the best Model S it can at the time, and that’s what the customer receives. This means that Tesla does not develop and hold on to a bunch of new features over the course of the year and then unleash them in a new model all at once. It adds features one by one to the manufacturing line when they’re ready. Some customers may be frustrated to miss out on a feature here and there. Tesla, however, manages to deliver most of the upgrades as software updates that everyone gets, providing current Model S owners with pleasant surprises.

I had several friends from law school who were very enterprising guys, much more so than the average law student. They each started businesses after practicing law at large firms for multiple years. What kind of businesses did they start? They started boutique law firms. This is completely unsurprising if you think about it. They’d spent years becoming good at delivering legal services. It was a field that they understood and could compete in. Their credentials translated too. People learn from what they’re doing and do it again on their own. It’s not just lawyers; the consulting firm Bain and Company was started by seven former partners and managers from the Boston Consulting Group. Myriad boutique investment banks and hedge funds have spun out of large financial organizations. You can see the same pattern in the startup world. After PayPal was acquired by eBay in 2002, its founders and employees went on to found or cofound LinkedIn (Reid Hoffman), YouTube (Steve Chen, Jawed Karim, and Chad Hurley), Yelp (Russel Simmons and Jeremy Stoppelman), Tesla Motors (Elon Musk), SpaceX (Musk again), Yammer (David Sacks), 500 Startups (Dave McClure), and many other companies. PayPal’s CEO, Peter Thiel, famously made a $500,000 investment in Facebook that grew to over $1 billion. In this sense, PayPal is one of the most prolific companies of recent times. But if you look at any successful growth company you’ll start to see their alumni show up doing parallel things. Former Apple employees founded or cofounded Android, Palm, Nest, and Handspring, companies that revolve around devices. Former Yahoo! employees founded Ycombinator, Cloudera, Hunch.com, AppNexus, Polyvore, and many other web-oriented companies. Organizations give rise to other organizations like themselves.

We called the CEO of Apple to see if there was anything they could do to help us. We expected him to say no like usual, but that didn’t happen. It turns out that when they’re losing a billion dollars a day and thinking they might starve to death, they suddenly remember the back door they built into their encryption.” “You’ve got to be kidding.” “Nope. Took ’em less than five minutes.

Pocos directores ejecutivos tienen competencias para más de dos de estas etapas. La mayoría de los CEO llegaron a su puesto siendo fundadores, visionarios u operadores, no pragmáticos. Muy probablemente se pueden contar con los dedos de una mano los CEOs de la historia empresarial de Estados Unidos que han dirigido eficazmente sus empresas (o han deseado hacerlo) a lo largo de todo el alfabeto. Después de todo, ¿quién quiere acompañar hacia la muerte a la gran empresa que fundó décadas atrás?

La característica más común de los CEO es que tienen un régimen de ejercicio regular (...) Si te mantienes en forma, serás menos propenso a la depresión, pensarás con más claridad, dormirás mejor y ampliarás tu grupo de posibles parejas (...) Trabaja ochenta horas una semana, sé el tipo que se mantiene tranquilo ante el estrés, aborda un problema grande a base de pura fuerza bruta y energía (...) Esta forma de trabajar, sin embargo, a medida que te haces mayor puede matarte de verdad. Así que hazlo pronto, mientras eres joven.

En una de sus famosas cartas a los inversores, Jeff Bezos destacó que lo que acaba con las compañías maduras es su apego poco saludable a los procesos acostumbrados. Solo hay que preguntarle a Óscar Muñoz, CEO de United Airlines, quien defendió a los empleados de la aerolínea que sacaron a un pasajero a rastras de un avión, porque «habían seguido los protocolos preestablecidos para hacer frente a ese tipo de situaciones».

Nadella has struck a powerful balance—aligning the Azure ecosystem, where Microsoft is clearly the leader, while allowing partners in the ecosystem to leverage their participation toward progress elsewhere. His goal is not to create the operating system for the intelligent car, for example, but to be the infrastructure that processes the information (at least for now). As Providence St. Joseph Health CEO Rod Hochman explained when announcing his choice to shift the data and applications of his fifty-one-hospital system to the Azure cloud, he chose Microsoft over Amazon, Apple, and Google because “[Microsoft isn’t] trying to be in the health-care business, but [is] trying to make it better.

Roomba, made headlines when the company’s CEO, Colin Angle, told Reuters about its data-based business strategy for the smart home, starting with a new revenue stream derived from selling floor plans of customers’ homes scraped from the machine’s new mapping capabilities. Angle indicated that iRobot could reach a deal to sell its maps to Google, Amazon, or Apple within the next two years. In preparation for this entry into surveillance competition, a camera, new sensors, and software had already been added to Roomba’s premier line, enabling new functions, including the ability to build a map while tracking its own location. The market had rewarded iRobot’s growth vision, sending the company’s stock price to $102 in June 2017 from just $35 a year earlier, translating into a market capitalization of $2.5 billion on revenues of $660 million.1 Privacy

One constant theme was how Sweden’s welfare system worked to encourage risk taking. “The worst that’ll happen is that you will fail, but still be able to live in your apartment and put food on the table. That encourages you to take risks. And some of those risks pay off as world-famous companies,” Daniel said.

I believe that social media, and the internet as a whole, have negatively impacted our ability to both think long-term and to focus deeply on the task in front of us. It is no surprise, therefore, that Apple CEO, Steve Jobs, prohibited his children from using phones or tablets—even though his business was to sell millions of them to his customers!

Strength A decent proxy for your success will be your ratio of sweating to watching others sweat (watching sports on TV). It’s not about being skinny or ripped, but committing to being strong physically and mentally. The trait most common in CEOs is a regular exercise regime. Walking into any conference room and feeling that, if shit got real, you could kill and eat the others gives you an edge and confidence (note: don’t do this). If you keep physically fit, you’ll be less prone to depression, think more clearly, sleep better, and broaden your pool of potential mates. On a regular basis, at work, demonstrate both your physical and mental strength—your grit. Work an eighty-hour week, be the calm one in face of stress, attack a big problem with sheer brute force and energy. People will notice. At Morgan Stanley, the analysts pulled all-nighters weekly, and it didn’t kill us, but made us stronger. This approach to work, however, as you get older, can in fact kill you. So, do it early.

And Steve preferred an internal replacement. “If you believe that it’s important to understand Apple’s culture deeply, you wind up clicking to an internal candidate,” explains Cook. “If I were leaving this afternoon I’d recommend an inside candidate, because I don’t think there’s any way somebody could come in and understand the complexity of what we do and really get the culture in that deep way. And I think Steve knew that it also needed to be somebody that believed in the Beatles concept. Apple would not be served well to have a CEO that wanted to, or felt like they needed to, replace him precisely. I don’t think there is such a person, but you could envision people trying. He knew that I would never be so dumb as to do that, or even feel that I needed to do that.

In 1903, the president of a leading bank had certainly leaned out when he told Henry Ford – the founder of Ford Motor Company – ‘The horse is here to stay but the automobile is only a novelty – a fad.’ In 1992, Andy Grove, the CEO of Intel, had clearly leaned out when he said: ‘The idea of a personal communicator in every pocket is a pipe dream driven by greed.’ And the former CEO of Microsoft Steve Ballmer had certainly leaned out when he laughed at Apple and said, ‘There’s no chance that the iPhone is going to get any significant market share.

In 2012, Google Maps had become the premier provider of mapping services and location data for mobile phone users. It was a popular feature on Apple’s iPhone. However, with more consumer activity moving to mobile devices and becoming increasingly integrated with location data, Apple realized that Google Maps was becoming a significant threat to the long-term profitability of its mobile platform. There was a real possibility that Google could make its mapping technology into a separate platform, offering valuable customer connections and geographic data to merchants, and siphoning this potential revenue source away from Apple. Apple’s decision to create its own mapping app to compete with Google Maps made sound strategic sense—despite the fact that the initial service was so poorly designed that it caused Apple significant public embarrassment. The new app misclassified nurseries as airports and cities as hospitals, suggested driving routes that passed over open water (your car had better float!), and even stranded unwary travelers in an Australian desert a full seventy kilometers from the town they expected to find there. iPhone users erupted in howls of protest, the media had a field day lampooning Apple’s misstep, and CEO Tim Cook had to issue a public apology.19 Apple accepted the bad publicity, likely reasoning that it could quickly improve its mapping service to an acceptable quality level—and this is essentially what has happened. The iPhone platform is no longer dependent on Google for mapping technology, and Apple has control over the mapping application as a source of significant value.

Innovator Charles Kettering, the longtime head of research at General Motors and a prolific inventor, had warned his industry colleagues about getting caught in this trap. “An inventor is simply a fellow who doesn’t take his education too seriously,” he said. In other words, inventors are engineers who can let go of their expertness and achieve what Apple’s late CEO, Steve Jobs, called the “lightness of being a beginner again.

Stephen Hawking warned against the creation of artificial intelligence saying it could be mankind’s biggest mistake and expressed fears that it may enslave or exterminate us.488 Billionaire tech guru Elon Musk, founder and CEO of SpaceX and Tesla Motors, warned that creating A.I. would be like “summoning a demon.”489 Microsoft founder Bill Gates has also expressed concern about it,490 as well as Apple co-founder Steve Wozniak

It may seem unlikely in principle that one individual could really generate so much more wealth than another. The key to this mystery is to revisit that question, are they really worth 100 of us? Would a basketball team trade one of their players for 100 random people? What would Apple’s next product look like if you replaced Steve Jobs with a committee of 100 random people?6 These things don’t scale linearly. Perhaps the CEO or the professional athlete has only ten times (whatever that means) the skill and determination of an ordinary person. But it makes all the difference that it’s concentrated in one individual.

As we thought about what would make us both better and different, two core ideas greatly influenced our thinking: First, technical founders are the best people to run technology companies. All of the long-lasting technology companies that we admired—Hewlett-Packard, Intel, Amazon, Apple, Google, Facebook—had been run by their founders. More specifically, the innovator was running the company. Second, it was incredibly difficult for technical founders to learn to become CEOs while building their companies. I was a testament to that. But, most venture capital firms were better designed to replace the founder than to help the founder grow and succeed.

I knew that Bill Campbell would be the critical person I’d need to persuade one way or another. Bill was the only one of our board members who had been a public company CEO. He knew the pros and cons better than anyone else. More important, everybody always seemed to defer to Bill in these kinds of sticky situations, because Bill had a special quality about him. At the time, Bill was in his sixties, with gray hair and a gruff voice, yet he had the energy of a twenty-year-old. He began his career as a college football coach and did not enter the business world until he was forty. Despite the late start, Bill eventually became the chairman and CEO of Intuit. Following that, he became a legend in high tech, mentoring great CEOs such as Steve Jobs of Apple, Jeff Bezos of Amazon, and Eric Schmidt of Google. Bill is extremely smart, super-charismatic, and elite operationally, but the key to his success goes beyond those attributes. In any situation—whether it’s the board of Apple, where he’s served for over a decade; the Columbia University Board of Trustees, where he is chairman; or the girls’ football team that he coaches—Bill is inevitably everybody’s favorite person. People offer many complex reasons for why Bill rates so highly. In my experience it’s pretty simple. No matter who you are, you need two kinds of friends in your life. The first kind is one you can call when something good happens, and you need someone who will be excited for you. Not a fake excitement veiling envy, but a real excitement. You need someone who will actually be more excited for you than he would be if it had happened to him. The second kind of friend is somebody you can call when things go horribly wrong—when your life is on the line and you only have one phone call. Who is it going to be? Bill Campbell is both of those friends.

Such hierarchically restricted access to the CEO can’t be too different from what happens with other large companies, but the way to get admission to these high-level meetings at Apple had much less to do with your place on the org chart and much more to do with your ability to make the products better.

This push for simplicity had a purpose. Even though he was a high-tech CEO, Steve could put himself in the shoes of customers, people who cared nothing for the ins and outs of the software industry. He never wanted Apple software to overload people, especially when they might already be stretched by the bustle of their everyday lives.

False Fail. In rescuing Apple, Jobs demonstrated how to escape the Moses Trap. He had learned to nurture both types of loonshots: P-type and S-type. He had separated his phases: the studio of Jony Ive, Apple’s chief product designer, who reported only to Jobs, became “as off-limits as Los Alamos during the Manhattan Project.” He had learned to love both artists and soldiers: it was Tim Cook who was groomed to succeed him as CEO. Jobs tailored the tools to the phase and balanced the tensions between new products and existing franchises in ways that have been described in many books and articles written about Apple. He had learned to be a gardener nurturing loonshots, rather than a Moses commanding them.

By 2008, storm clouds were gathering over Microsoft. PC shipments, the financial lifeblood of Microsoft, had leveled off. Meanwhile sales of Apple and Google smartphones and tablets were on the rise, producing growing revenues from search and online advertising that Microsoft hadn’t matched. Meanwhile, Amazon had quietly launched Amazon Web Services (AWS), establishing itself for years to come as a leader in the lucrative, rapidly growing cloud services business. The logic behind the advent of the cloud was simple and compelling. The PC Revolution of the 1980s, led by Microsoft, Intel, Apple, and others, had made computing accessible to homes and offices around the world. The 1990s had ushered in the client/server era to meet the needs of millions of users who wanted to share data over networks rather than on floppy disks. But the cost of maintaining servers in an ever-growing sea of data—and the advent of businesses like Amazon, Office 365, Google, and Facebook—simply outpaced the ability for servers to keep up. The emergence of cloud services fundamentally shifted the economics of computing. It standardized and pooled computing resources and automated maintenance tasks once done manually. It allowed for elastic scaling up or down on a self-service, pay-as-you-go basis. Cloud providers invested in enormous data ​centers around the world and then rented them out at a lower cost per user. This was the Cloud Revolution. Amazon was one of the first to cash in with AWS. They figured out early on that the same cloud infrastructure they used to sell books, movies, and other retail items could be rented, like a time-share, to other businesses and startups at a much lower price than it would take for each company to build its own cloud. By June 2008, Amazon already had 180,000 developers building applications and services for their cloud platform. Microsoft did not yet have a commercially viable cloud platform. All of this spelled trouble for Microsoft. Even before the Great Recession of 2008, our stock had begun a downward slide. In a long-planned move, Bill Gates left the company that year to focus on the Bill & Melinda Gates Foundation. But others were leaving, too. Among them, Kevin Johnson, president of the Windows and online services business, announced he would leave to become CEO of Juniper Networks. In their letter to shareholders that year, Bill and Steve Ballmer noted that Ray Ozzie, creator of Lotus Notes, had been named the company’s new Chief Software Architect (Bill’s old title), reflecting the fact that a new generation of leaders was stepping up in areas like online advertising and search. There was no mention of the cloud in that year’s shareholder letter, but, to his credit, Steve had a game plan and a wider view of the playing field.

(In an odd twist of fate, ex-CEO Amelio came back to visit Steve at Apple headquarters late in 1998 with an offer to buy the assets and intellectual property of the mothballed Newton operations. A few days after the meeting, Steve told me he was flabbergasted that Amelio would have any interest in trying to make a go of it with the Newton. But selling it to him would have been “a cruel joke,” he told me. “I can be mean, but I could never be that mean. No way would I let him further humiliate himself—or Apple.” So the Newton stayed dead.

Steve may have chewed people apart in a meeting, but afterward they almost always had two things to say: One is, he was right. What they’ll tell you next is that they learned “good enough” isn’t good enough. And the next time they came back to meet with Steve, they came in with something great. It’s like anything in life. There are standards. The standards have to be enforced. If the standards aren’t enforced, then the standards slip. This is the role of the CEO in any company. Some care and some don’t. Great CEOs care a lot. Steve cared a lot. “Nice” CEOs who don’t hold the line on standards do not build great places to work. They may build a nice place to work, but they will not build a great place to work. Then the great people will leave, and then the company will degenerate into mediocrity. Steve built Apple into the best place to work.

Tim Cook, now Apple’s CEO, says that he worried about Tevanian leaving, and urged Steve in 2004 to figure out another challenge to keep the brilliant software engineer at Apple. “Steve looked at me,” Cook remembers, “and goes, ‘I agree he’s really smart. But he’s decided he doesn’t want to work. I’ve never found in my whole life that you could convince someone who doesn’t want to work hard to work hard.’ ” Another time, shortly after Steve had learned that Tevanian had taken up golf, Steve carped to Cook that something was really amiss. “Golf?!” he thundered incredulously. “Who has time for golf?

Jony Ive, Apple’s chief design officer, once said at an Apple University class that a manager’s most important role is to “give the quiet ones a voice.” I love this. Google CEO Eric Schmidt took the opposite approach, urging people to “Be loud!” I love this, too. The two leaders took different approaches to ensure that everyone was heard. This is your goal as well, but there is more than one way to achieve it. You have to find a way to listen that fits your personal style, and then create a culture in which everyone listens to each other, so that all the burden of listening doesn’t fall on you.

Many in Hollywood view Disney as a soulless, creativity-killing machine that treats motion pictures like toothpaste and leaves no room for the next great talent, the next great idea, or the belief that films have any meaning beyond their contribution to the bottom line. By contrast, investors and MBAs are thrilled that Disney has figured out how to make more money, more consistently, from the film business than anyone ever has before. But actually, Disney isn’t in the movie business, at least as we previously understood it. It’s in the Disney brands business. Movies are meant to serve those brands. Not the other way around. Even some Disney executives admit in private that they feel more creatively limited in their jobs than they imagined possible when starting careers in Hollywood. But, as evidenced by box-office returns, Disney is undeniably giving people what they want. It’s also following the example of one of the men its CEO, Bob Iger, admired most in the world: Apple’s cofounder, Steve Jobs. Apple makes very few products, focuses obsessively on quality and detail, and once it launches something that consumers love, milks it endlessly. People wondering why there’s a new Star Wars movie every year could easily ask the same question about the modestly updated iPhone that launches each and every fall. Disney approaches movies much like Apple approaches consumer products. Nobody blames Apple for not coming out with a groundbreaking new gadget every year, and nobody blames it for coming out with new versions of its smartphone and tablet until consumers get sick of them. Microsoft for years tried being the “everything for everybody” company, and that didn’t work out well. So if Disney has abandoned whole categories of films that used to be part of every studio’s slates and certain people bemoan the loss, well, that’s simply not its problem.

We called the CEO of Apple to see if there was anything they could do to help us. We expected him to say no like usual, but that didn’t happen. It turns out that when they’re losing a billion dollars a day and thinking they might starve to death, they suddenly remember the back door they built into their encryption.

Steve Jobs was known for the clarity of his insights about what customers wanted, but he was also known for his volatility with coworkers. Apple’s founder reportedly fired employees in the elevator and screamed at underperforming executives. Perhaps there is something endemic in the fast-paced technology business that causes this behavior, because such intensity is not exactly rare among its CEOs. Bill Gates used to throw epic tantrums. Steve Ballmer, his successor at Microsoft, had a propensity for throwing chairs. Andy Grove, the longtime CEO of Intel, was known to be so harsh and intimidating that a subordinate once fainted during a performance review.

You can subscribe to a Volvo XC40 (their compact SUV) for $600 a month, and that includes concierge services like packages delivered straight to your vehicle. Everything is covered except the gas: insurance, maintenance, wear-and-tear replacements, 24/7 customer care. Volvo’s CEO expects that one out of every five of the company’s vehicles will be delivered via subscription by 2023, and the company is working on its own ridesharing network that will allow users to loan or rent its cars for profit. Jim Nichols, product and technology communications manager at Volvo USA, told Consumer Reports, “Our research has shown that many customers are looking for a hassle-free, fixed-rate experience that mirrors the many subscriptions they currently have, such as Netflix or Apple’s iPhone [upgrade] program.

Apple le echó también el ojo al talento de Tesla. Fichó tantos empleados de Tesla que su CEO, Elon Musk, dijo en una ocasión que el proyecto del Apple Car era un «cementerio de Tesla». «Han contratado a gente que nosotros hemos despedido —explicó Musk al periódico alemán Handelsblatt a finales de 2015—. Si no lo consigues en Tesla, te vas a trabajar a Apple.» Musk consideraba que un coche era para Apple, «lógicamente, el siguiente producto donde poder ofrecer una innovación importante

Android phones poll 1,200 data points a day from their users and send that back to the Google data-mining mother ship. iOS phones pull 200, and Apple bends over backward to emphasize that data is not being used for profiteering. “The truth is,” Apple CEO Tim Cook said in 2018, “we could make a ton of money if we monetized our customers, if we made our customers our product. We’ve elected not to do that.

To make matters worse, the CEO was wearing a red clown’s nose made of foam. It was the UK’s Comic Relief Day, a nationwide fund-raiser where everyone wears red clown noses to raise money for charity. The rejection seemed like a bad joke indeed.

Cook was a methodical and efficient CEO. Unlike Jobs, who seemed to operate on gut, Cook demanded hard numbers on projected cost and profits. He expected teams to stick to the budget.

The future belongs to those who see possibilities before they become obvious. —John Sculley Former CEO of Pepsi and Apple Computer

After his liver transplant in April 2009, visionary Apple CEO Steve Jobs lived two and a half years,

About two years after I got hooked on that calculator, Apple released its first desktop computer out into the world. But as soon as I was able to test out one of these new computers, my fantasies evaporated. I realized the computer was not some dream machine, capable of anything.