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50th video of the Behind the Business Series.
Today Apple is the most profitable company in the world and it very recently became the first trillion-dollar publicly-traded company in America. And yet just two decades ago Apple was on the verge of bankruptcy; surprisingly, it wasn't Steve Jobs that saved them, but their biggest rival at the time: Microsoft.
Throughout the 1990s Microsoft was expanding aggressively, achieving a staggering 90% market share in the personal computer market. Apple, meanwhile, was in rapid decline: developers were making fewer and fewer applications for the Macintosh, while Apple's license for Microsoft Office was expiring. Things were looking grim, until at Apple's yearly conference, Steve Jobs made a very surprising announcement.
Steve Jobs announced Microsoft would be one of Apple's key strategic partners. Microsoft would invest $150 million into Apple in exchange for non-voting shares and in exchange would license Microsoft Office to Apple for another 5 years.
The audience reaction was mixed, but ultimately this proved to be the saving grace for Apple. Without this capital infusion from Microsoft, Apple would've gone bankrupt in less than 90 days. So why did Bill Gates do it? Why did he save Apple?
In truth, he wasn't doing it out of the kindness of his heart. Instead, he noticed the looming threat of anti-trust regulations. He knew the Department of Justice was getting ready to break up Microsoft on monopoly grounds, so he did his best to prop-up his competition. Essentially, he saved Apple to save Microsoft.
When the anti-trust threat had been resolved in 2001, Bill Gates sold his stake in Apple and moved on. Of course, as we now know today, Apple eclipsed Microsoft (and every other tech company) and Bill Gates' original $150 million stake would've been worth over $50 billion today. He missed out on quite some gains!
Under the kind patronage of Nagabhushanam Peddi, Dan Supernault, Samuel Patterson, James Gallagher & Brett Gmoser.
18 часов назад