Steve Jobs, the co-founder of the world’s largest company Apple, who was unceremoniously ousted from the firm in 1985 after a long power struggle, returned to the company in 1997, when the company was on the verge of bankruptcy.
Steve Jobs, the co-founder of the world’s largest company Apple, who was unceremoniously ousted from the firm in 1985 after a long power struggle, returned to the company in 1997, when the company was on the verge of bankruptcy. In an interview with CNBC in October 1997, former Apple CEO Steve Jobs shared the reason why he returned to the company even after being ousted. “I very much want to see Apple get turned around. And I think it’s going to. So I don’t know how much more committed I could be,” Steve Jobs said.
Steve Jobs founded Apple with Steve Wozniak in 1976, and was forced out of the company in September 1985. In an interesting turn of events, he went on to create another computer company, NeXT, which Apple acquired in February 1997, bringing him back as interim chief before he took on the role permanently. Jobs’ return to the company proved to be a game-changer for Apple, as the company became profitable again.
“The resources we’re investing are equal or greater than we have been, but it’s on fewer things. So we’re going to do a better job at them,” Steve Jobs had told CNBC in 1997. Notably, the next decade saw iconic products from the company’s stables, as under his able leadership, Apple released the iMac, iPod and iPhone. In the same interview, Steve Jobs also spoke about how he felt after being booed onstage during his Macworld keynote in August of that year. He had announced a partnership with rival Microsoft — including a live, onscreen appearance from Bill Gates — inviting jeers from the crowd.
“The situation had become so polarized, I wasn’t that surprised. My job isn’t to win a popularity contest right now. My job is to help the team at Apple do the right things to turn this company around so it can really prosper again,” he said in the interview. Another interesting fact is that when the interview was initially recorded, Apple’s stock price was only $0.78 per share. Now, it commands a share price of $184.74, making it the world’s most valuable company with a market capitalisation of $915.74 billion.