Monday, October 21, 2013

Steve Jobs: Pirate(s) of Silicon Valley



Steven Paul "Steve" Jobs, was born on February 24, 1955 and died on October 5, 2011. Steve was an American entrepreneur, marketer, and inventor, who was the co-founder (along with Steve Wozniak and Ronald Wayne), chairman, and CEO of Apple Inc.  Steve was also co-founded and served as chief executive of Pixar Animation Studios; he became a member of the board of directors of The Walt Disney Company in 2006, when Disney acquired Pixar. Steve was among the first to see the commercial potential of Xerox PARC's mouse-driven graphical user interface, which led to the creation of the Apple Lisa and, one year later, the Macintosh. He also played a role in introducing the LaserWriter, one of the first widely available laser printers, to the market.

After a power struggle with the board of directors in 1985, Steve left Apple and founded NeXT. In 1996 Steve returned to Apple as an advisor, and took control of the company as an interim CEO. Steve brought Apple from near bankruptcy to profitability by 1998. As the new CEO of the company, Steve  oversaw the development of the iMac, iTunes, iPod, iPhone, and iPad, and on the services side, the company's Apple Retail Stores, iTunes Store and the App Store. The success of these products and services provided several years of stable financial returns, and propelled Apple to become the world's most valuable publicly traded company in 2011. The reinvigoration of the company is regarded by many commentators as one of the greatest turnarounds in business history.

In 2003, Steve was diagnosed with a pancreas neuroendocrine tumor. Though it was initially treated, he reported a hormone imbalance, underwent a liver transplant in 2009, and appeared progressively thinner as his health declined. On medical leave for most of 2011, Steve resigned in August that year, and was elected Chairman of the Board. He died of respiratory arrest related to his tumor on October 5, 2011.
"Remember, the sixties happened in the early seventies, and that's when I came of age; and to me, the spark of that was that there was something beyond what you see every day. It’s the same thing that causes people to be poets instead of bankers. And I think that's a wonderful thing. I think that same spirit can be put in to products, and those products can be manufactured, and given to people, and they can sense that spirit."
                                                                               —Steve Jobs, Pirates of Silicon Valley

 Although Steve earned only $1 a year as CEO of Apple, he held 5.426 million Apple shares worth $2.1 billion, as well as 138 million shares in Disney (which he received in exchange for Disney's acquisition of Pixar) worth $4.4 billion. Steve quipped that the $1 per annum he was paid by Apple was based on attending one meeting for 50 cents while the other 50 cents was based on his performance. Forbes estimated his net wealth at $8.3 billion in 2010, making him the 42nd-wealthiest American.
 
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