THE GLOBAL ELITE

34: Steve Jobs

The ailing creator of the iPod and iPhone is next to irreplaceable.

 
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For two years I wrote a satirical blog under the persona of Apple founder and CEO Steve Jobs, and one of the recurring themes was that Jobs is not actually human but in fact is a demigod, the offspring of Zeus and a mortal woman, an immortal figure who uses his extraordinary powers to restore a sense of childlike wonder to the world by creating magical consumer-electronics products like the iPod and iPhone. This is, after all, a CEO who inspires a frightening level of adoration from Apple fanatics. These people think nothing of camping out overnight in freezing cold weather just to attend one of his speeches. No other chief executive is so inextricably linked to his company's brand and products. As one Wall Street analyst put it this year, "Apple is Steve Jobs, and Steve Jobs is Apple."

Alas, however, Jobs is all too human, as became evident in June when he appeared at an Apple conference looking frail and gaunt, causing Apple watchers to worry that perhaps Jobs had suffered a recurrence of the pancreatic cancer for which he underwent surgery four years ago. Later, word leaked that Jobs had undergone surgery in the spring. Fears flamed up again in December when Apple announced that he would not give his annual keynote address at the Macworld conference in January. Asked about Jobs's health, an Apple spokesman says that if at some point Jobs were unable to perform his duties as CEO, Apple would make this known.

Jobs cofounded Apple in 1976, got tossed out in 1985 and returned in 1997, when the company was as close to death as a company can get. Since then he has orchestrated one of the greatest turnarounds in corporate history, making Apple into the hottest brand in consumer electronics. At the end of 1997 Apple stock was trading for about three bucks a share. Today those shares trade for $96, after shooting as high as $202 earlier this year. The weak economy might take some wind out of Apple's sails, especially since the company sells mostly to consumers rather than to corporate customers, and because Apple's products are hardly cheap. On the other hand, Apple's customers are fiercely loyal and aren't penny-pinching bargain hunters. They're not likely to start buying Dell computers or Motorola cell phones just to save a few bucks. If anything, they'll just wait a bit longer before upgrading their Apple gear.

Jobs began Apple's turnaround with the 2001 introduction of the iPod, which defined and then dominated the portable-music-player market—and which became central to the resuscitation of Apple's computer line. The Mac, once derided as a toy, today is the best personal computer on the planet, period. And the iPhone is the best smart phone. Nothing else comes close. As of the third quarter of 2008, Apple's iPhone was outselling the Research in MotionBlackBerry, even though the iPhone had been in the market for only 15 months. When measured by revenues, Apple has become the world's third-largest mobile-phone maker, behind Nokia and Samsung. All this is happening just as mobile devices are poised to become the most important computing platform.

For all this and more, thank Steve Jobs. He's not an engineer. He can't write a line of software code. He is, by most accounts, a terrible manager, prone to tantrums and abusive tirades, almost unbearable to work for. But he is also a genius —a relentless perfectionist with a keen eye for design and a Zen master's sense of which features to leave out. His products are simple, spare and elegant, with the best user interfaces in the world. Moreover, Apple is not Jobs's only home run. In 1986 he spent $10 million to buy a sad little company that was trying (and mostly failing) to sell specialized, high-end graphics computers. Twenty years later, having renamed the outfit Pixar and turned it into an animation house, he sold it to Disney for $7.4 billion. (Pixar's John Lasseter follows Jobs on NEWSWEEK's Global Elite list.)

But as for the superhuman demigod stuff? Sadly, Jobs looks a lot older than his 53 years, and even before he pulled out of Macworld, much of the buzz about Apple was focused on who might succeed him as chief executive. It's hard to imagine any mere mortal attempting to fill his shoes.

No. 33: Rex Tillerson

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Member Comments

  • Posted By: SLIPSHINE @ 12/30/2008 3:03:30 PM

    STEVE JOBS IS GREAT FOR APPLE FOR SURE - BUT POWERFULL IN THE WORLD.
    NOPE DONT SEE IT. HOW ABOUT THE GATES FOUNDATION WICH HAS FINANCIAL
    BACKING AND A WORLD PRESENCE.

  • Posted By: Tabi @ 12/24/2008 9:23:48 PM

    As much as Steve Jobs may be a good CEO, it is gushing praises like this that make possible the bloated CEO egos and compensations. Steve Jobs exists as the head of an organization. He may be at the top, but he is supported by a whole legion of Apple workers. Steve Job certainly deserves some credit, but it is all shared credit.

  • Posted By: kestudila @ 12/22/2008 11:46:03 PM

    Very true. The iMac was a hit way before the iPod, and even started the "iEverything" moniker craze. But I would venture that the earliest and deepest contribution the second-coming Steve Jobs made to the Apple ecosystem was the NextStep operating system, which he brought over from Next and had deftly reshaped into OS X. Remember how baffled we were at the time, all drooling over the dazzling but unfinished BeOS? Jobs was right, and captained the difficult transition with characteristic mastery. Today, OS X is the central force of Apple, driving the healthy growth of the Mac, iPod (with the touch, other models to follow) and iPhone product lines.

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