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  • Apple: hands down the most successful American company.

  • Between the ubiquity of their devices and the almost fanatical loyalty of their customers,

  • it should come as no surprise that Apple recently became the first trillion-dollar company listed

  • on the American stock market.

  • And yet, just twenty years ago Apple was on the verge of bankruptcy and it wasn't Steve

  • Jobs that saved them, but rather their greatest rival at the time, Microsoft.

  • This video is brought to you by Dashlane.

  • Never forget your passwords again by registering with the link in the description.

  • The Apple of 1997 was a very different company.

  • It wasn't selling smartphones, they weren't even invented yet, but what they were selling

  • was computers.

  • Back then Apple was a computer company and that was even reflected in their name, but

  • by all accounts it was a company in decline.

  • Apple's computers were simply too expensive to be massively popular.

  • They did have good margins, but their market share was abysmal.

  • You see, Apple refused to license its operating system to other companies, which had no choice

  • but to go to the only other player in town, Microsoft.

  • Now, keep in mind back in the 1990s the vast majority of computers were used for commercial

  • purposes.

  • Their main value was the software they had, and if your computer didn't have the necessary

  • programs developed for it, well then it was effectively useless for big companies.

  • In 1997 Microsoft had a staggering 90% market share, and unsurprisingly almost all the software

  • that was being developed at the time was made for Windows.

  • Every software developer had to make a choice: he could spend only as much money as necessary

  • to create programs for Windows, or throw almost twice as much to also support Apple, which

  • had less than 10% market share.

  • It's also worth noting that throughout this period Steve Jobs wasn't even part of the

  • company: the Apple board of directors had forced him out in 1985.

  • But in 1997 the situation was truly desperate: sales were declining rapidly and after a series

  • of unsuccessful CEOs, the Apple board actually brought Steve back.

  • In February they acquired Next, the company Steve had started after leaving Apple.

  • But by that point Apple's finances were in such bad shape that Steve Jobs didn't

  • actually receive cash for this purchase; instead he received Apple shares, specifically 1.5

  • million of them.

  • But even that wasn't enough.

  • By the end of July Apple had less than 90 days worth of cash left in the bank.

  • Apple was worth less than $3 billion and had lost over a billion in a single year.

  • But then, on the 6th of August 1997, Steve Jobs made an announcement that shocked the

  • world.

  • I'd like to announce one of our first partnerships today, a very very meaningful one, and that

  • is one with Microsoft.

  • You probably noticed that the crowd's response was hesitant: they just could not comprehend

  • how Apple could possibly partner with their biggest competitor, who was driving them out

  • of business.

  • As the announcement progressed, things got worse.

  • Next, we have taken a look at browsers out there and Apple has decided ... Apple has

  • decided to make Internet Explorer its default browser on the Macintosh.

  • Since we believe in choice.

  • The speech was sounding like a surrender statement.

  • And lastly, Microsoft is making an investment in Apple.

  • Microsoft is buying $150 million worth of Apple stock at market price.

  • It is non-voting shares.

  • Notice the keyword here: non-voting.

  • Microsoft wasn't trying to acquire Apple, instead it was just funding it.

  • But it wasn't just cash that Bill Gates was offering.

  • The second part of this is Microsoft is committing to release Microsoft Office on Macintosh for

  • the next five years.

  • The issue with software I mentioned earlier that was basically bringing Apple down, was

  • being solved by Bill Gates single-handedly.

  • No one would ever purchase an Apple computer without Microsoft Office on it and here is

  • Bill Gates giving it away for shares at market price, which he could have just purchased

  • off of the market.

  • So why did Bill Gates do it?

  • Why save Apple on the eve of what would've been their death at the hands of Microsoft?

  • Well, as you probably guessed, Bill Gates wasn't doing this out of the kindness of

  • his heart.

  • In fact, back then Bill Gates had a rather negative reputation.

  • He wasn't really into philanthropy yet; instead, he was seen as a cutthroat businessman

  • willing to do anything to succeed in his industry.

  • And by all accounts Microsoft was successful; so successful in fact, that it was attracting

  • the attention of antitrust regulators.

  • The Department of Justice had been preparing its case against Microsoft since 1993, and

  • obviously Bill didn't want his company broken up, so what better way to show that Microsoft

  • isn't a monopoly than by literally propping up his competition.

  • Less than a year after the Apple partnership, the DOJ summoned Bill Gates for a painstaking

  • three-day-long deposition.

  • By the way, you can tell a lot about someone based on how they act during these things.

  • Did you ever have any discussions with any representative of Real Networks concerning

  • what products Real Networks should or should not offer or distribute?

  • No.

  • Notice how long he takes before giving an answer, carefully considering how his responses

  • could be used against him.

  • A program designed to assist in the performance of a specific task, such as word processing,

  • accounting or inventory management.

  • I'd say it's a pretty vague definition.

  • Is it accurate as far as it goes?

  • I'd say it's vague but accurate.

  • Throughout the deposition he'd attack definitions and remain as vague as possible because he

  • knew that by saving Apple a year earlier he had really saved Microsoft.

  • The DOJ, of course, eventually gave up and in 2001 cleared Microsoft with minimal punishments.

  • And as to what happened with the Apple shares Microsoft had, well, Bill Gates got rid of

  • them as soon as they had served their purpose.

  • Once the Department of Justice had settled with Microsoft, Bill Gates converted his preferential,

  • non-voting Apple shares into regular stock.

  • In total he ended up with 18.2 million shares of Apple, which he sold in 2003.

  • Now, keep in mind this was after the dot-com bubble had crashed and in 2003 Apple's stock

  • price was still extremely low compared to its pre-bubble heights.

  • So just how much money did Bill Gates miss out on?

  • Well, Apple has been performing so well since 2003 that its stock has split twice in that

  • time, once at a 2:1 ratio in 2005 and a second time at a 7:1 ratio in 2014.

  • Thus the 18.2 million shares then would be 254 million today.

  • As of August 2018 Apple's stock price is roughly $210 a piece, which would make Microsoft's

  • former stake be worth $53.5 billion today.

  • So yeah, Bill Gates might have missed out on a few billion dollars, but hey at least

  • he doesn't have to worry about remembering all his passwords thanks to services like

  • Dashlane.

  • Dashlane makes managing passwords a breeze: it generates strong passwords, stores them

  • safely across all of your devices and automatically fills them in wherever you need them.

  • Dashlane is so convenient and secure that honestly I wouldn't be surprised if Bill

  • Gates himself has it installed on his computer.

  • The beautify of Dashlane is its versatility: it's available on every popular desktop

  • and mobile device and integrates flawlessly with every browser.

  • And it's not just a password service: it actively protects you by offering a VPN for

  • every one of your devices, and it also monitors the Dark Web to make sure your data hasn't

  • been leaked by hackers.

  • The full range of Dashlane's service will make your digital life much easier and much

  • safer, and to help you get a taste of their amazing features, I'm giving you a free

  • trial of Dashlane and 10% off their premium service if register using the link in the

  • description.

  • Anyway, thanks for watching.

  • Make sure to like, subscribe, leave a comment, check out my Patreon, check out my Skillshare

  • class and register for Dashlane and I think that's it.

  • You'll be hearing again from me in about two weeks, and until then, stay smart.

Apple: hands down the most successful American company.

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マイクロソフトはどのようにしてアップルを救ったのか(なぜそうなったのか (How Microsoft Saved Apple (And Why They Did It))

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    gotony5614.me97 に公開 2021 年 01 月 14 日
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