he was able to report that, while Jobs’s health problems amounted

“We knew how cool it was, because we knew how badly we each wanted one personally. And the concept became so beautifully simple: a thousand songs in your pocket.” One of the copywriters suggested they call it a “Pod.” Jobs was the one who, borrowing from the iMac and iTunes names, modified that to iPod.

Options When Mike Markkula joined Jobs and Wozniak to turn their fledgling partnership into the Apple Computer Co. in January 1977, they valued it at $5,309. Less than four years later they decided it was time to take it public. It would become the most oversubscribed initial public offering since that of Ford Motors in 1956. By the end of December

One of Jobs’s business rules was to never be afraid of cannibalizing yourself. “If you don’t cannibalize yourself, someone else will,”

The days of the Byte Shop were over. Industry sales were shifting from local computer specialty shops to megachains and big box stores, where most clerks had neither the knowledge nor the incentive to explain the distinctive nature of Apple products. “All that the salesman cared about was a $50 spiff,” Jobs said. Other computers were pretty

For the rest of his career, Jobs would understand the needs and desires of customers better than any other business leader, he would focus on a handful of core products, and he would care, sometimes obsessively, about marketing and image and even the details of packaging. “When you open the box of an iPhone or iPad, we want that tactile experience

At the time, Jobs owned 6.5 million shares of Apple stock, 11% of the company, worth more than $100 million. He began to sell his shares, and within five months had dumped them all, retaining only one share so he could attend shareholder meetings if he wanted. He was furious, and that was reflected in his passion to start what was, no matter how he

other words, your computer might handle video and pictures from your cameras, and perhaps someday your music player and songs, or your books and magazines. Johnson’s predawn brainstorm was that the stores should organize displays not just around the company’s four lines of computers, but also around things people might want to do. “For example, I

The mark of an innovative company is not only that it comes up with new ideas first, but also that it knows how to leapfrog when it finds itself behind.