23
Nov
11

Profits=Power

Last week I heard Mike Morritz, a Sequoia veteran speak about Steve Jobs and Apple. Mike Morritz was a journalist for TIME when Apple was doing incredibly well and he wrote a book on Apple back in the 80’s. So he had the fortune of knowing Steve Jobs closely.
One thing he mentioned about how Jobs operated differently after returning to Apple in 1997 was that he believed profits=power and focused on increasing cash reserves to do amazing stuff like buy out all machines in the world to create Macbook casings so as to stop any competitor from being able to use the same technology.
Here’s an article talking a bit more on how Apple manages supply chain operations. http://www.businessweek.com/magazine/apples-supplychain-secret-hoard-lasers-11032011.html
I’ve been thinking about this philosophy and I think it makes a lot of sense to run a business where your profits over your competitors gives you a significant long term competitive advantage instead of operating for years with single digit margins by undercutting competition on price.
Thoughts on this?
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3 Responses to “Profits=Power”


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