How Apple Became the Most Powerful Tech Company in the World

0:00The year was 1976.

0:02One man sold 10% of his newly created

0:05company for just $800. He was afraid the

0:08company would fail badly and he would be

0:10left with a [music] debt to repay. But

0:12today, that small mistake is worth

0:15trillions of dollars because the name of

0:17that company was Apple. This is the

0:20story of how two young college dropouts

0:22[music] started in a small garage in

0:24California with no money and built an

0:27empire that changed [music] the history

0:29of the world. Welcome to Morvx TV. The

0:34foundation of this great empire was laid

0:36in 1971 [music]

0:37when two young men with very different

0:39personalities met for the first time.

0:42Steve Waznjak was 21 years old. [music]

0:44His mind was always busy solving the

0:46puzzles of wires and circuits. On the

0:49other side was 16-year-old Steve Jobs.

0:51[music] Jobs did not have the same deep

0:53understanding of engineering, but in his

0:56eyes was a remarkable vision for

0:58business. The first result of their

1:00friendship was the blue [music] box. It

1:02was a small device that could trick the

1:03telephone network and give people the

1:05ability to make free calls around the

1:07world. Waznjak [music] built it using

1:09his expertise. Jobs immediately realized

1:12that it could be sold to university

1:14students and used to make money. That

1:16experience [music] established a rule

1:18that would define their lives. Waznjak

1:20would build extraordinary things and

1:22Jobs would understand their value and

1:25sell them. In 1974 at [music] the age of

1:2919, Jobs dropped out of Reed College. He

1:32came to India with his friend Dan

1:34Kotkkey in search of inner peace. His

1:36destination was Kaini Dam in Utarakand

1:39where [music] he wanted to meet Neim

1:40Karoli Baba. But when he arrived, he

1:43learned that Baba G had already passed

1:45away. Jobs spent several months

1:47traveling through different parts of

1:48[music] India. He traveled barefoot like

1:50the sadhus and learned the philosophy of

1:53Zen Buddhism. The principle of

1:55simplicity or minimalism left a deep

1:58impression on his mind. From India, he

2:01came to understand [music] something

2:03that simply meditating was not enough to

2:05change the world. Something new had to

2:07be created. After returning to America,

2:10[music] Jobs began working the night

2:12shift at the video game company Atari.

2:14Around the same [music] time, Waznjak

2:16was working as an engineer at Huelet

2:18Packard or HP. In those days, computers

2:21were extremely expensive [music] and as

2:23large as an entire room. Waznjak often

2:26started attending meetings of the

2:27Homebrew Computer Club [music] where

2:29electronics enthusiasts gathered to

2:31discuss new technologies. It was there

2:33that an idea began [music] to take shape

2:35in his mind. A small computer that an

2:37ordinary person could keep on a table

2:39[music] at home. He designed a circuit

2:41board that could be connected to a

2:42television screen and a keyboard. This

2:44was the Apple Eye. Waznjak [music]

2:47wanted to give the design away for free

2:48to members of the club, but Jobs stopped

2:51him. [music] He explained that they

2:52would sell it as a finished product. To

2:55raise money for the project, Jobs sold

2:57his Volkswagen Microbus [music] and

2:59Waznjak sold his valuable HP65

3:01calculator. Together, they received

3:04around $1,300

3:06on April 1st, 1976. Apple computer was

3:10founded in the garage of Job's parents'

3:12home at 2066 Chris Drive in Los Altos,

3:16California. A colleague of theirs from

3:18Atari, Ronald Wayne, also joined the

3:21company as a 10% partner. But Jobs had

3:24taken on debt to purchase the computer

3:26parts. Wayne began to fear that if the

3:28business failed, the bank could seize

3:30his personal assets to repay the debt

3:32because Jobs and Waznjak had nothing of

3:34their own that could be seized. Just 12

3:37days [music] later, Wayne took $800 and

3:40gave up his share of the company. Now

3:42[music] only the two Steves remained.

3:44They took their completed circuit board

3:46to Paul Terrell, the owner of the bite

3:48shop in [music] Mountain View. Paul

3:50placed a large order for 50 computers

3:52and offered to pay $500 for each [music]

3:54one. But he had one strict condition. He

3:57didn't want loose parts. He wanted fully

3:59assembled computers. Jobs didn't have

4:02enough money to buy all those parts. So

4:04he [music] took Paul Terrell's written

4:05order and went to electronic suppliers.

4:08He convinced them [music] to provide the

4:09parts on 30 days credit. And inside the

4:12garage, work continued [music] day and

4:14night. Jobs, Waznjak, and a few of their

4:17friends worked together [music] and

4:18completed all 50 Apple Eye computers on

4:21time. Then they delivered them to the

4:22bite shop, the Apple I was selling, but

4:25it was still just [music] a basic

4:26circuit board housed inside a wooden

4:28box. Waznjak had already designed

4:30[music] the next machine, the Apple 2.

4:33For the first time, it had the ability

4:35to display color graphics. Jobs wanted

4:38this machine to look completely

4:39different. He wanted it to have a clean

4:42plastic case, something an ordinary

4:44person could proudly place in their

4:45living room at home. [music] But

4:47creating expensive plastic molds and

4:49producing the machine on a large scale

4:52required [music] thousands of dollars.

4:54Jobs went to banks looking for a loan.

4:56But the bank officials flatly refused to

4:58lend money to the two young men. They

5:00even approached [music] major companies

5:02like Atari and HP, but were laughed at.

5:05They were told that ordinary [music]

5:06people would never have any need to keep

5:08a computer in their homes. And at this

5:10critical moment, Mike Marcula stepped

5:13forward. Mike was a millionaire investor

5:15who [music] had previously worked at

5:16Intel, and his trained eye saw a glimpse

5:19of the future inside Waznjak's Apple 2.

5:22Mike invested a massive $250,000 in the

5:25company. That capital took Apple out of

5:28the garage and turned it into a real

5:30business operation. On January 3rd,

5:331977, [music] Apple Computer, Inc. was

5:37legally incorporated. To give the

5:38company a professional identity, a

5:41designer named Rob Janoff created a new

5:43logo. He designed the shape of an apple

5:46and added a bite to it so people

5:48wouldn't mistake it for a tomato. In

5:50April 1977, the Apple 2 was launched at

5:53the West Coast Computer Fair. Then in

5:561979, the first spreadsheet software for

5:59the Apple 2 called VisiCalc arrived and

6:02business people began rushing to buy the

6:04computer. Sales skyrocketed. In December

6:081980, Apple launched its IPO and entered

6:10the stock market. It was the world's

6:12largest IPO since Ford Motor Companies

6:15in 1956. [music]

6:16And in a single day, Steve Jobs, Steve

6:19Waznjak, [music] and many Apple

6:21employees became millionaires overnight.

6:23At just 25 years old, Jobs was already

6:26worth $250 million. [music] Apple had

6:29now become a major corporate empire,

6:31growing at extraordinary speed. After

6:33the overwhelming success [music] of the

6:34Apple 2, the company faced a major

6:36crisis. The new computer designed to

6:39replace the Apple 2, the Apple 3, failed

6:42badly. Jobs insisted that the machine

6:44should not have a cooling fan [music]

6:45that made noise. As a result, the

6:47computers began overheating until the

6:50chips inside actually melted and [music]

6:52started falling out. After that, Apple

6:54created another computer called the

6:56Lisa, but its price was set at nearly

6:59$10,000, [music]

7:00far beyond the reach of ordinary

7:02customers. The company's money was

7:04flowing out like water. Jobs was removed

7:07from the Lisa project. Furious, he

7:09turned his full attention to a smaller

7:11project, [music] the Macintosh.

7:14Jobs had visited the research center at

7:16Xerox Park where he had seen something

7:18for the first time, a graphical user

7:20interface or guey on a computer screen

7:23and the technology of the mouse. He

7:25decided that the Macintosh would change

7:27the way people used [music] computers.

7:29Instead of typing green letters on a

7:31black screen, people would click on

7:32pictures with a mouse. But Apple's

7:34worsening financial situation and its

7:36internal [music] conflicts meant the

7:38company needed an experienced leader. In

7:411983, [music]

7:42Jobs met John Scully, the president of

7:44Pepsi. After several meetings, Scully

7:48was still hesitant to become [music]

7:49Apple's CEO. Then, Jobs looked him

7:51straight in the eyes and asked him a

7:53direct question. Do you want to spend

7:55the rest of your life selling sugared

7:57water to people, or do you want to come

7:58with me and change the world? That one

8:01sentence changed Scully's decision, and

8:03he joined Apple. In 1984, during

8:06America's biggest sporting [music]

8:08event, the Super Bowl, the Macintosh,

8:10was launched with a spectacular

8:12advertisement. During its first few

8:14weeks, the machine received enormous

8:16praise. But soon, reality began to

8:19emerge. The Macintosh [music] was too

8:21slow. There was not enough software

8:23available for it, and its sales came

8:25crashing down. Warehouses began filling

8:28up with piles of unsold computers. This

8:31decline [music] set the Apple boardroom

8:33on fire. An open war began between Steve

8:36Jobs and John Scully. Jobs was planning

8:38to remove Scully from the company while

8:40Scully wanted to strip Jobs [music] of

8:42his power. In May 1985, Apple's board of

8:46directors sided with the more

8:47experienced businessman Scully. Jobs was

8:50stripped of all his important divisions

8:51[music] and left completely isolated

8:54within the company. Just a few months

8:56earlier, Steve Waznjak had also [music]

8:58left the company, feeling that Apple had

9:00lost its original engineering spirit.

9:02Then, [music] in September 1985, Steve

9:05Jobs resigned as well. Immediately after

9:08separating from Apple, Jobs took some of

9:10[music] his most loyal employees with

9:11him and filed the paperwork to create a

9:13new computer company called Next. Steve

9:16Jobs [music] invested millions of

9:17dollars of his own money into Next. His

9:20goal was to build an extremely powerful

9:22computer for universities and

9:23educational institutions. At the same

9:26time, in 1986, [music]

9:28he purchased a computer graphics

9:30division from the company of famous

9:31filmmaker George Lucas. The division was

9:33named Pixar. Next computers did not sell

9:36well because they were extremely

9:38expensive, [music] but its operating

9:40system had become one of the most

9:41advanced and technically sophisticated

9:43in the [music] world. On the other hand,

9:45in 1995, Pixar released the world's

9:48first computer animated feature film,

9:50Toy Story. Its enormous earnings made

9:52[music] Jobs a billionaire almost

9:54overnight. Without jobs, Apple's

9:56condition was getting worse day by day.

9:58During the first few years, the [music]

10:00company continued making money from the

10:01older Macintosh computers and desktop

10:03publishing. But in the 1990s, [music]

10:06Apple began to fall apart. After John

10:09Scully, Michael Spindler became CEO and

10:12then Gilamelio took over as CEO. The

10:14company created a digital assistant

10:16called Newton. But its handwriting

10:18recognition technology failed badly.

10:21Apple had introduced [music] so many

10:22different models and names into the

10:24market that customers themselves became

10:26confused about which computer they

10:28should buy. And during this [music]

10:29time, the biggest blow came from Bill

10:32Gates company Microsoft. In August 1995,

10:36Microsoft launched Windows 95. It had a

10:39graphical user interface similar to

10:41Apple's, but it was much cheaper than

10:43Apple's system and could run on any

10:45ordinary PC in the world. Windows took

10:48control of the global computer market,

10:50and Apple's sales came crashing down. By

10:53the end of 1996, Apple's situation

10:55[music] had become so desperate that the

10:58company was only a few weeks away from

10:59becoming bankrupt under its debt.

11:01>> [music]

11:01>> Apple's old operating system had become

11:03completely outdated and every internal

11:06attempt to create a new system had

11:08failed. The computers desperately

11:10[music] needed new and modern software

11:12to keep running. The then CEO Gilamelio

11:15began searching the market for

11:17alternatives. And finally, in December

11:191996, [music] he bought Jobs company

11:22Next for approximately $429 million. The

11:26purpose of the [music] deal was to

11:27acquire Next's powerful operating

11:29system. But that one decision changed

11:32everything. After 11 long years away,

11:35Steve Jobs walked back onto Apple's

11:36campus, this time as [music] an adviser.

11:39Steve Jobs return brought a new energy

11:41into Apple, but the company was still

11:43hollow from within. CEO Gilio had been

11:46unable to find any way to save the

11:47company [music] from sinking. Finally,

11:50in the middle of 1997, Apple's board

11:52removed Alio and appointed Steve Jobs as

11:55interim CEO. As soon as Jobs arrived, he

11:58completely reshaped the company. At the

12:01time, Apple was making dozens of

12:03different desktop computers, printers,

12:05and digital cameras. Jobs called a major

12:08meeting. He drew a fourbox [music] grid

12:10on a whiteboard and wrote four words on

12:12it, consumer, pro, desktop, portable.

12:16[music] He made it clear that Apple

12:18would immediately shut down the other

12:2070% of unnecessary projects [music] and

12:23concentrate only on building great

12:24computers that fit into these four

12:26boxes. But the company's cash was

12:28running out just [music] to keep its

12:30daily operations going. Then Jobs made a

12:32move that nobody [music] expected. At

12:35the 1997 Mac World Expo, Jobs announced

12:38from the stage that Apple was making a

12:40deal with its biggest rival, Bill Gates

12:42company, Microsoft. Microsoft invested

12:45$150 million in Apple and promised to

12:48create software for Apple's computers.

12:50When Bill Gates face appeared on the

12:51screen, the audience [music] began

12:53booing, but Jobs quieted the crowd and

12:56told them that they had to stop thinking

12:57that Microsoft had to lose for Apple to

12:59win. That money gave the company a

13:02chance to breathe. Jobs then discovered

13:04a young designer working inside Apple,

13:07Joanie IV. His approach to design

13:09matched Jobs thinking almost perfectly.

13:11[music] In August 1998, the two of them

13:14launched the iMac G3. At the time,

13:17computers from other companies were

13:19boring, square, [music] and dull gray

13:21boxes. But the iMac was completely

13:24different. It had a rounded egg-like

13:26shape, a [music] translucent body, and a

13:28sea blue color. Connecting it to the

13:30internet was extremely easy. The iMac's

13:33powerful sales [music] brought the Apple

13:35company, which had been losing money

13:37continuously, back into profit in its

13:39very first year. Just as Jobs had

13:41decided in his fourbox grid that Apple

13:43would also make portable computers,

13:44[music]

13:45meaning laptops, after the success of

13:47the iMac, the company launched the iBook

13:50in 1999. It was an attractive, colorful,

13:53and affordable laptop [music] designed

13:55for ordinary consumers. For the first

13:57time, the laptop made Apple a major

13:59player in the laptop [music] market on a

14:01large scale. The company had survived,

14:03but Steve Jobs [music] vision was now

14:05moving beyond computers towards

14:07something even bigger. He was about to

14:09change the world of music. [music]

14:11In May 2001, Apple made a decision to

14:15take complete control of the customer

14:16shopping experience. At Ordinary

14:19television and electronic stores,

14:21salespeople often failed to properly

14:23explain the strengths of Apple's

14:24computers to customers. Jobs brought in

14:26Ron Johnson and began preparing to open

14:29the first Apple store. Many technology

14:31experts wrote in [music] newspapers that

14:33these stores would fail badly because

14:35companies like Gateway were already

14:37closing their own stores after suffering

14:39losses. But Apple stores looked nothing

14:41like warehouses. They were designed more

14:43like the grand lobby of a five-star

14:45hotel where customers [music] could

14:47operate the computers themselves and

14:49experience the internet firsthand. These

14:52stores went on to become some of the

14:53most profitable retail stores in the

14:55world. That same year, Jobs noticed that

14:58[music] the MP3 players on the market

14:59were terrible. They were either too

15:02large and heavy or could hold only 15 to

15:0420 songs. Connecting them to a computer

15:08and searching for a song on a tiny

15:09screen was a major headache. Combining

15:12the ideas of an engineer named Tony

15:14Fidel with the [music] brilliant design

15:16of Joanie IV, Apple launched the iPod on

15:19October 23rd, 2001. On the front was a

15:23circular scroll wheel, which users could

15:25turn with their thumb to find any song

15:27from hundreds of songs within seconds.

15:30Jobs introduced [music] the device to

15:31the world with a single line, 1,000

15:34songs in your pocket. The iPod became

15:37extremely popular, but people still had

15:39to rely on illegal websites such as

15:41[music] Napster to download songs. And

15:43the entire music industry was being

15:45devastated. In April 2003, Jobs began

15:49[music] speaking directly with the

15:50owners of the world's biggest music

15:52companies. He convinced them to change

15:54the way people bought [music] music.

15:56Instead of forcing people to purchase an

15:58entire expensive album, they would be

16:00allowed to legally [music] download a

16:01single song for just 99.

16:04Apple launched the iTunes music store.

16:07In its very first week, people purchased

16:09[music] 1 million songs. The combination

16:12of the iPod and iTunes transformed Apple

16:15from simply a computer [music] company

16:16into a global entertainment brand. The

16:19company's profits began reaching heights

16:21that just a few years earlier seemed

16:23impossible to even imagine. The money

16:26from the iPod and iTunes had filled

16:27[music] Apple's coffers, but Steve Jobs

16:30attention remained equally fixed on the

16:31company's original and core business,

16:34the computer. At that time [music]

16:36between 2003 and 2005, Apple's

16:39professional laptops were called the

16:41PowerBook. They were powered by Power PC

16:43processors made by IBM and Motorola. But

16:46Apple's engineering team had run into a

16:48major wall. The new G5 chip used in

16:51desktop computers consumed so much power

16:54and produced so much heat that fitting

16:56it inside a thin laptop had become

16:58impossible. If it were [music] put

17:00inside a laptop, the machine could melt

17:02or even burn people's legs. This

17:05technological deadlock created a serious

17:07problem. Windows laptops were moving

17:10ahead rapidly while the speed of Apple's

17:12PowerBook remained stuck in the same

17:14place, changing the entire brain of the

17:16computer. The chip architecture meant

17:19that every piece of [music] software

17:20built for Apple would have to be

17:22rewritten from scratch by developers. It

17:24was an enormous business risk. Software

17:26companies could become frustrated and

17:28the entire Mac business [music] could

17:30sink badly. But Apple's engineers had

17:32been working on a secret project for

17:34years. They had been continuously

17:36testing their operating system on

17:38another type of chip. Then in June 2005,

17:42Steve Jobs made a major announcement at

17:44a large meeting of developers. Apple was

17:46ending its decades old relationship with

17:48IBM and would now [music] use processors

17:51from Intel, the world's largest chip

17:53manufacturer. In January 2006, on the

17:57stage of the Mac World Expo, Jobs

18:00introduced Apple's first laptop powered

18:02by an Intel chip. He permanently retired

18:04the old PowerBook [music] name and gave

18:06the new machine a new name, the MacBook

18:08Pro. Just a few months later, in [music]

18:10May 2006, Apple launched the new MacBook

18:14for ordinary consumers and students,

18:16replacing the old iBook. Powered by

18:18Intel's [music] Core Duo chip, these new

18:20MacBooks were four to five times faster

18:22than the older laptops. They could run

18:24heavy and complex software without

18:27overheating as much with their clean

18:29aluminum bodies, bright [music]

18:30displays, better battery life, and

18:33faster performance. These MacBooks

18:35became an essential [music] part of the

18:36bags of college students, video editors

18:39working on films, and software

18:41engineers. Apple had once again

18:43completely reestablished its dominance

18:45in [music] the laptop market. The

18:47incredible success of the MacBook and

18:48the iPod had taken Apple to new heights.

18:51But inside Apple, a major fear was

18:53growing. Around 2005, Steve Jobs noticed

18:57[music] something changing. Mobile phone

18:59companies were beginning to build music

19:00players directly into their phones. Jobs

19:03understood what that meant. If people

19:05could listen to music on their phones,

19:07no one would want to carry a separate

19:08iPod in their pocket alongside their

19:10phone. Apple's biggest source of revenue

19:12was now at risk. There was only one path

19:15forward. Apple would have to take

19:17[music] the risk of destroying its own

19:19most successful device and build its own

19:21phone. On the morning of January 9th,

19:242007, Steve Jobs walked onto the stage

19:27at the Moscone [music]

19:28Center in California. In front of a

19:30crowd of thousands, he announced, "Today

19:33we are launching three revolutionary

19:35products. A touchscreen iPod, a mobile

19:38phone, and an incredible internet

19:40communications [music]

19:40device. These are not three separate

19:43devices. This is one device. and we are

19:46calling it the iPhone. At that [music]

19:48time, the most popular smartphones on

19:50the market, such as BlackBerry and

19:52Motorola, had their lower half covered

19:54with physical keyboards [music] made of

19:55plastic buttons. Those buttons took up

19:57valuable screen space. Jobs removed all

20:00of them and [music] replaced them with

20:02one large glass screen covering the

20:04entire front of the phone. In those

20:05days, phones were operated using small

20:08plastic sticks called styluses. But Jobs

20:11introduced multi-touch technology,

20:13[music] allowing the screen to be

20:14controlled directly with the movement of

20:16your fingers. It also included the

20:18Safari browser for real internet [music]

20:19access along with smart sensors. In July

20:232008, Apple launched the App Store. It

20:26gave software developers around the

20:27world a platform to create apps for the

20:29iPhone and completely changed the

20:31economics [music] of the mobile

20:32industry. A phone was no longer just a

20:35device for making calls. It had become a

20:37computer you could carry in your pocket.

20:39At the same time, the company was

20:41opening up new markets. In January 2008,

20:45Jobs walked onto the stage [music] and

20:47pulled the world's thinnest laptop out

20:49of a Manila envelope, the MacBook Air.

20:52It changed the expectations for [music]

20:53the weight and thickness of laptops

20:55forever. Then, in 2010, Jobs launched

21:00the iPad, creating an entirely new

21:02tablet [music] market between the phone

21:04and the laptop. But the next major

21:06revolution in the mobile world came in

21:082010 with the iPhone 4. Jobs knew people

21:12[music] would not want to carry separate

21:13cameras and phones just to take

21:14photographs. So, Apple placed a

21:16front-facing camera on the phone. That

21:19single change opened the door to a new

21:21era of video calling through FaceTime

21:23and the selfie. The quality of the rear

21:25camera was also improved so dramatically

21:28that ordinary people began abandoning

21:29[music]

21:30digital point andoot cameras altogether.

21:33Apple was no longer simply a computer

21:35company. It had become the [music]

21:37world's biggest camera and

21:38communications brand. Behind all of

21:40these remarkable successes and business

21:42milestones, a deep tragedy was [music]

21:44unfolding. Back in 2003, Steve Jobs had

21:48already been diagnosed with pancreatic

21:50cancer. He fought the disease for

21:52several years and continued working

21:54[music] throughout the battle. But by

21:562011, his health had deteriorated so

21:59severely [music] that leading the

22:00company was no longer possible. In

22:03August 2011, Jobs stepped down as CEO

22:06with a heavy heart and handed Apple's

22:08leadership to his most trusted

22:10colleague, Tim Cook. On October 5th,

22:132011, Steve Jobs passed away at the age

22:15of 56. Outside Apple stores around the

22:18world, people left flowers and lit

22:21candles [music] to honor the visionary

22:22who had changed their lives. Immediately

22:25after his death, Wall Street experts and

22:28critics began predicting Apple's

22:29decline. They believed the company's

22:31soul and its engine of innovation had

22:34gone with Steve [music] Jobs. In their

22:37eyes, Tim Cook was merely a supply chain

22:39executive, not a magician capable of

22:42creating the next revolution. Tim Cook

22:44now faced an enormous challenge. He had

22:47to keep Apple from falling and restore

22:49confidence among nervous investors.

22:51Instead of trying to imitate Steve

22:52[music] Jobs, Cook focused on what the

22:55market was actually demanding, Jobs had

22:57always insisted on smaller phone

22:59screens. [music] But Cook recognized

23:01that consumers increasingly wanted

23:03larger displays for internet browsing

23:05and video consumption. Acting on that

23:07belief, he introduced the larger screen

23:10iPhone 6 and iPhone 6 Plus in 2014. The

23:14move shattered all previous sales

23:16records [music] and silenced Apple's

23:18critics. At the same time, Tim Cook

23:20helped create an entirely new wearable

23:23[music] technology industry. In 2015,

23:26Apple launched the Apple Watch. By

23:28tracking heart rate and measuring

23:29[music] ECG readings, it established

23:31itself in healthcare and helped save

23:33lives. Then, in 2016, [music]

23:37Apple eliminated the need for wired

23:39earphones and introduced the wireless

23:41AirPods. At first, many people mocked

23:44them, claiming the tiny earbuds would

23:46constantly fall out and get lost, but

23:48they became an enormous success. Today,

23:51the era of wired headphones has largely

23:54disappeared. The sales of Apple Watch

23:56and AirPods became so massive that if

23:59they were independent companies, they

24:00would rank among the world's leading

24:02businesses. Thanks to Tim Cook's [music]

24:04practical leadership and his deep

24:06understanding of the market, Apple

24:08[music] reached a historic milestone in

24:10August 2018,

24:12it became the first publicly traded

24:14American company to achieve a market

24:17value of $1 trillion. But in the

24:19computer market, the company was once

24:21again facing an [music] old problem. For

24:24the past 14 years, Apple had been using

24:26Intel processors in its MacBook and

24:28desktop computers. But Intel's

24:30technological progress had slowed down.

24:33Its processors consumed more power and

24:35laptop batteries ran out much faster. To

24:38keep the [music] laptops cool, loud,

24:41fast spinning fans had to run. Then in

24:44June 2020 [music] at the WWWDC developer

24:47conference, Tim Cook made an

24:49announcement from the stage that sent

24:51shock waves through the computer

24:52industry. Apple announced that it was

24:55ending its relationship with Intel. The

24:57company revealed that it would now use

24:59its own speciallydesigned chip in its

25:01Mac computers called Apple Silicon, the

25:04M1 chip. When the first M1 powered

25:06MacBooks [music] launched in November

25:082020, the technology world was stunned.

25:11The fans had been completely removed

25:13from these laptops, [music]

25:14yet they did not get excessively hot. In

25:17terms of speed, they broke [music] the

25:19previous records, and battery life

25:21reached up to 20 hours. This major

25:23technological leap pushed Apple several

25:26years ahead of its competitors [music]

25:27in the world of computer hardware. The

25:29peak of all these achievements came in

25:312024 when Apple launched its biggest and

25:34most ambitious project [music] yet, the

25:36Apple Vision Pro. It is an advanced

25:38headset worn over the eyes that [music]

25:40opened the door to a new world of

25:42spatial computing. With it, the computer

25:44screen is no longer trapped inside a

25:46physical box. Instead, it appears to

25:48float in the air throughout the space in

25:50front of your eyes. There is no need for

25:52a remote or a mouse to control it. It

25:55can be operated simply through the

25:56movement of your eyes and the gestures

25:58of your fingers. Under Tim Cook's

26:00[music] leadership, Apple has now

26:02surpassed the extraordinary figure of $3

26:04trillion, [music] a figure larger than

26:07the total economies of many major

26:09countries around the world. Apple's

26:11story is not simply the story of a

26:12company becoming enormous. It is the

26:14story of how two young men sold their

26:17old van and calculator and laid the

26:19foundation of a dream.

26:21It also reminds us of Ronald Wayne, who

26:23[music] out of fear sold his 10% share

26:26for $800, making what became one of the

26:29most expensive mistakes in history. It

26:31teaches us how costly it can be to lose

26:34faith in your [music] own dream. Steve

26:36Waznjak's wires and circuits gave birth

26:38to the machine, but Steve Jobs

26:41determination and his love for [music]

26:43art and design gave those machines a

26:45soul. Even after experiencing [music]

26:47the pain of being removed from the

26:49company he had helped create, Jobs

26:51refused to give up. He returned, saved

26:54the company from bankruptcy and changed

26:56the structure of the world with

26:57inventions like the iMac, iPhone,

26:59[music]

27:00iPad, and MacBook. Today, Steve Jobs is

27:04no longer with us, but his ideas remain

27:06alive in our hands, in our pockets, in

27:09our ears, [music] and in the way we

27:10work. Apple's extraordinary journey

27:13proves one famous line completely

27:14[music] true. The people who are crazy

27:17enough to think they can change the

27:18world are the ones who actually do. If

27:21you enjoyed this story, don't forget to

27:23subscribe to the channel because the

27:25next story [music] is going to be even

27:27more interesting. Thank you.