Looking back over Apple’s first 50 years, it’s clear what the company’s greatest talent is: turning rivals’ niche products into mainstream hits.
Apple proves adept at releasing new products in categories that looked like failures because customers simply lacked interest. But then Apple figured out what its competitors were doing wrong and released its own versions that quickly became iconic.
Here are five examples of Apple turning other companies’ fiascos into triumphs.
All over the world, Apple enjoys spending its milestone 50th anniversary month in the company of the artists and fans who have made the last five decades extraordinary, the company said recently of its worldwide birthday parties.
The festivities began on March 13 when Grammy Award-winning artist Alicia Keys took to the iconic steps of Apple Grand Central in New York City. Celebrations also rolled in China and South Korea, then London and Sydney, Australia. We’ve added new photos, below.
Apple marks a remarkable milestone this April 1 — 50 years since Steve Jobs, Steve Wozniak and Ronald Wayne founded the company in a California garage on that date in 1976. To commemorate it, Apple said Thursday it will plan a series of global celebrations. And CEO Tim Cook published a personal letter on apple.com. It looks back on five decades of innovation while expressing gratitude to the billions of people who have made Apple what it is today.
“Thinking different has always been at the heart of Apple,” Cook said. “It’s what has driven us to create products that empower people to express themselves, to connect and to create something wonderful.”
Bestselling author David Pogue just published Apple: The First 50 Years, an ambitious book about the history of Apple.
The approximately 600-page, full-color book spans the company’s epic saga, from its founding by two college dropouts to its latest machinations with Apple Intelligence. It’s a fun and informative book, and an easy read despite being a doorstop.
I interviewed Pogue about his book and the wild ride that Apple’s been on for the last five decades.
★★★★★
Apple: The First 50 Years by David Pogue is a comprehensive retelling of the most influential tech company in history and the people behind it. The book covers the early hobby projects of teenage Steve Wozniak to Apple Intelligence, and the lifetime’s worth of everything in between, in about 600 pages.
It’s just the right amount of detail and depth to tell the whole story of Apple’s rocketing rise to power, years of tumult and insanely great turnaround. It’s an easy and highly entertaining read. You don’t need a technical or nerdy background at all. And there are hundreds of full-color pictures.
Apple: The First 50 Years is now the definitive all-encompassing book I would recommend for anyone interested in the company that changed the world … at least three separate times.
January 3, 1977: Apple Computer Co. is officially incorporated, with Steve Jobs and Steve Wozniak listed as co-founders. The Apple incorporation leaves out third founder Ron Wayne — who initially invested in the company — because he sold back his stake in Apple for $800.
The funding and expertise needed to turn Apple into a corporation is provided by a man named Mike Markkula, who becomes an important figure in the company’s history.
December 12, 1980: Apple goes public, floating 4.6 million shares on the stock market at $22 per share. The Apple IPO becomes the biggest tech public offering of its day. And more than 40 out of 1,000 Apple employees become instant millionaires.
As Apple’s biggest shareholder, 25-year-old Steve Jobs ends the day with a net worth of $217 million. However, the big payday triggers internal tensions as it highlights Cupertino’s class divide.
August 27, 1999: Apple Computer swaps out the striped, multicolored logo the company had used since 1977 for a new single-color version. The evolution of the iconic Apple logo from rainbow to monochrome shocks many longtime fans.
However, it is part of a sustained, company-wide overhaul led by Apple CEO Steve Jobs. The makeover includes new products, the “Think Different” ad campaign and, eventually, the removal of the word “Computer” from the company’s name.
April 1, 1976: The Apple Computer Company is founded by Steve Jobs, Steve Wozniak and Ronald Wayne. The trio sets out to sell the $666 Apple-1 computer.
Apple will not officially become a corporation until January 3 the following year. By that time, Wayne is no longer a part of the business.
Sometimes, when Apple passes a major financial milestone, I’ll have a pang of regret at not having invested all the money I could lay my hands on on Apple back in the mid-1990s.
But that’s far from the worst missed opportunity involving Apple investment. A new article for Fast Company tells the story of seven early investors who sold their AAPL holdings on the day of the company’s IPO in December 1980.