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What Apple has lost—and gained—since Steve Jobs died 10 years ago

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05.10.2021

Ten years ago today, I happened to be attending a trade show in Tokyo when a tech journalist friend back in California phoned to ask if I’d heard Steve Jobs had died. I hadn’t: Apple had just made the sad announcement and it hadn’t yet overtaken Twitter, news sites, and—it would soon seem—every other form of media.

Rather than continuing with my trip as planned, I spent the rest of it writing multiple pieces about Apple’s cofounder and his impact on his company and the world. Throughout, I did my best to avoid coming to any snap judgments about what an Apple without Jobs would look like. Even a year after Jobs’s death, I marked its anniversary by arguing that it was too soon to judge how Apple was faring, in part because the company was still releasing products that he’d had a hand in shaping.

Nine years after that, I have no excuses. Tim Cook has been Apple’s CEO for more than a fifth of the company’s history. Comparing his Apple to Steve Jobs’s legacy remains tricky, since we’ll never know how Jobs would have handled the same decisions Cook has made. But since it’s no longer premature to ponder such matters, I’m going to give it a shot. And I’m going to divide my musings into four broad categories.

This one’s easy.

When Jobs died, some who weighed in about Apple’s future—including Oracle CEO Larry Ellison, a close Jobs friend—expected the worst. You didn’t have to think Jobs was irreplaceable to guess that Cook would have his hands full dealing with threats such as the growing popularity of phones based on Google’s Android operating system.

Still, many observers concluded that Apple stood a good chance of flourishing under Cook. Hedge fund manager James Altucher, who had already predicted that Apple would be the first $1 trillion company, doubled down on the prognostication after Jobs’s passing.

But even Altucher didn’t talk about Apple becoming the first company to reach a valuation of $2 trillion, a feat it achieved less than nine years after Jobs’s death. Apple is now worth more than six times what it was on October 5, 2011. As the smartphone market matured, Cook turned out to be one of the best CEOs in the history of business, adroitly keeping Apple growing through strategies such as bolstering its services portfolio.

From a Wall Street perspective, the unanswerable question that feels most pertinent is not “would Apple have been more........

© Fast Company


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