Is the Future Open or Closed?!

Steve Jobs - CNBC
MarketWatch Interview
Transcript
1998.08.14.1710-1717

By Randy Rencsok
Updated 1998.08.14.1933

Interviewer1: How are you?

Steve Jobs I'm Fine..(Interviewer1 interjects before Jobs finishes: Terrific!) .. A little Tired.

Interviewer1: I wonder whether this computer is the computer you are looking forward to putting Apple and the Macintosh back into the consumer mass market in a big way - the way it was, way bach when the origional Macintosh came out and way back when the Apple II came out?

Steve Jobs Right.. You know, as you know, you, you said Apple pioneered the consumer market for computing. But somewhere along the way they, they lost, they lost their direction. Because Apple hasn't made (ah) a really compelling product under a few thousand dollars, under two thousand dollars in a few years. So iMac is, is Apple's (ah) vision of what a consumer computer should be. And that is a great computer that you can take home, take out of the box, and be cruising the internet within about 10 minutes. And something that, that's so great that you don't have to like hide it when company comes (smile), you know. (steve laughs, and the interviewers).

Interviewer2: Renae Sam Miguel (??sp) Here Mr. Jobs. (ah) Let's say I'm a long time PC user and I'm taking a long hard look at some of these sub $1,000 models. (Ah) The ones that will get me on the internet quickly and also they have floppy drives so I can transfer my existing files. In those terms how would you sell me on a iMac?

Steve Jobs (looking up in the air)Well, you know I don't think it's really the case that other computers can get you on the internet in 10 minutes. We've actually done tests and, the, you know the other computers be (ah) 30, 40 minutes before your on the internet, and are a little more confusing for some people. (um) I think also, you know, the iMac is faster than the fastest PC you can buy for any amount of money. I mean it's hard to believe but a $1299 iMac toasts a 3, 4, 5 thousand dollar PII 400Mhz PC. So your buying yourself sort of a very powerful computer here and yet one that does what Apple is know for. Which is makes the internet as easy to use as the Macintosh made personal computing (ah) a decade ago.

Interviewer1: Mr. Jobs I'm a Macintosh user. Started when I worked in the publishing business. I confess that I feel sometimes ghetto-ized as a Mac user. I don't seem to have the same selections of software, the sam (ah) access to service, or to technical help. Maybe not so much from Apple but from some of the (um) other vendors. The printer companies and so on and so forth. What do you have to say to me?

Steve Jobs Well Actually some really good news. (um) As Apple has seen its, its fortunes (hand gestures kind of a big U (up down up)) I think ah, start to turn around the developers have been coming back in large numbers. Over 460 new applications have been announced for the Macintosh since the iMac was launched on May 6th. So the developers have been coming back in droves, and, and it's great, and we're working really closely with a lot of them. So I think your going to start to see a lot more apps on the Mac, and , and even cooler versions of apps being on the Mac first for a change.

Interviewer: What about the supply issue? What are you doing to make sure that there are not only enough iMacs to go around. I mean you already have 150,000 preorders already, you have to be happy with that. But also some of your other (ah) products like the G3 powerbooks and the Power Macs. You, you mentioned at MacWorld and the Java(??) center in New York that Yeah you did have some problems keeping those on the shelves and you were trying to take some steps to correct them. (ah) What about the supply issues to make sure that everybody can, can get a Apple product that they want?

Steve Jobs Well we're buildin' lots of products. (um) The demand may be even greater than 'lots of products'. but were building (ah) quite a few of them. So, were, we're gonna find out, see how many iMacs fly off the shelves this weekend. But (ah) I we're doing our best to keep up with demand. It's a nice problem to have.

Interviewer: It is... (um) One other question. Let's say that the iMac fufills ALL of your wildest dreams and your wishes and becomes the technology story of the year. And that your G3 pwoerbooks and Power Macs continue to sell well, as well and the street starts hitting, you know, past your 52 weeks high. Let's say it gets to 55, 60 dollars a share. Will you consider your mission as interim CEO accomplished or are there other things, other goals that you have there at Apple?

Steve Jobs (um) You know, we, we have a lot of goals here but, but we tend to really focus on what we're doing at the moment, in terms of what we talk about, and, and that is really iMac right now so (um) thats what we tend to talk about right now. (smile)

Interviewer: Mr. Jobs Thank you very much for joining us.

Steve Jobs Sure

Interviewer: Appreciate it all.

Steve Jobs Ok

Interviewer: That was Steve Jobs live from Cupertino California. (end)

Some final comments. It appeared that Steve was indeed a bit tired. It was nice to see him dressed casually, and I really had to feel for him as he stumbled through a few things. I know how damn hard it is to talk directly to the camera and it's hard to get going sometimes. Though from the interview I didn't get that I really believe in this product kind of feeling. It felt like more of a shaky sales job rather than a very strong "I" believe in this product, and "I" can't wait until others get to try it too kind of feeling.

A major statement seems to be that Jobs somewhat acknowledged that Apple doesn't have enough iMacs manufactured to meet demand. I quote "Well we're buildin' lots of products. (um) The demand may be even greater than 'lots of products'." I think this hints that Apple doesn't have 150K iMacs ready to ship out the door. I agree that having a high demand is a good thing, but not being able to meet it is not.

Another point. I really wish Apple wouldn't go into the performance arguments. When Steve says "I mean it's hard to believe but a $1299 iMac toasts a 3, 4, 5 thousand dollar PII 400Mhz PC." I think he really does a disservice to the iMac. What he should be saying is that we(Apple) believe when independant tests are run that that iMac owners will be more than pleasantly suprised, but they will know by actually using the machine that it is actually faster than similiarly equipped and priced PCs, and probably even faster than PC's costing thousands of dollars more. Toasts - a PII 400Mhz - I personally believe that claim will not be found to be true in many but some specialized test cases, and all it does is turn people away from Apple because they will percieve that Apple is lying. When the tests are run and this is found to be true in many realworld cases they will have been justified. Let performance speak for itself through completely independant tests. This is a thing that is best spread by word of mouth.

Finally I left the (ah)s and (um)s and wierd language in the Transcript to illustrate Steve Jobs uncertainty etc. Not to bemean him or the interview. I do think it is important that Steve brush up on his imprompto speaking skills. Makes me think I should do the same.

Randy Rencsok
President Turbo Software

	Interviewer1:	How are you?
	Steve Jobs	I'm Fine..(Interviewer1 interjects before Jobs finishes: Terrific!) .. A little Tired.
	Interviewer1:	I wonder whether this computer is the computer you are looking forward to putting Apple and the Macintosh back into the consumer mass market in a big way - the way it was, way bach when the origional Macintosh came out and way back when the Apple II came out?
	Steve Jobs	Right.. You know, as you know, you, you said Apple pioneered the consumer market for computing. But somewhere along the way they, they lost, they lost their direction. Because Apple hasn't made (ah) a really compelling product under a few thousand dollars, under two thousand dollars in a few years. So iMac is, is Apple's (ah) vision of what a consumer computer should be. And that is a great computer that you can take home, take out of the box, and be cruising the internet within about 10 minutes. And something that, that's so great that you don't have to like hide it when company comes (smile), you know. (steve laughs, and the interviewers).
	Interviewer2:	Renae Sam Miguel (??sp) Here Mr. Jobs. (ah) Let's say I'm a long time PC user and I'm taking a long hard look at some of these sub $1,000 models. (Ah) The ones that will get me on the internet quickly and also they have floppy drives so I can transfer my existing files. In those terms how would you sell me on a iMac?
	Steve Jobs	(looking up in the air)Well, you know I don't think it's really the case that other computers can get you on the internet in 10 minutes. We've actually done tests and, the, you know the other computers be (ah) 30, 40 minutes before your on the internet, and are a little more confusing for some people. (um) I think also, you know, the iMac is faster than the *fastest* PC you can buy for any amount of money. I mean it's hard to believe but a $1299 iMac *toasts* a 3, 4, 5 thousand dollar PII 400Mhz PC. So your buying yourself sort of a very powerful computer here and yet one that does what Apple is know for. Which is makes the internet as easy to use as the Macintosh made personal computing (ah) a decade ago.
	Interviewer1:	Mr. Jobs I'm a Macintosh user. Started when I worked in the publishing business. I confess that I feel sometimes ghetto-ized as a Mac user. I don't seem to have the same selections of software, the sam (ah) access to service, or to technical help. Maybe not so much from Apple but from some of the (um) other vendors. The printer companies and so on and so forth. What do you have to say to me?
	Steve Jobs	Well Actually some really good news. (um) As Apple has seen its, its fortunes (hand gestures kind of a big U (up down up)) I think ah, start to turn around the developers have been coming back in large numbers. Over 460 new applications have been announced for the Macintosh since the iMac was launched on May 6th. So the developers have been coming back in droves, and, and it's great, and we're working really closely with a lot of them. So I think your going to start to see a lot more apps on the Mac, and , and even cooler versions of apps being on the Mac *first* for a change.
	Interviewer:	What about the supply issue? What are you doing to make sure that there are not only enough iMacs to go around. I mean you already have 150,000 preorders already, you have to be happy with that. But also some of your other (ah) products like the G3 powerbooks and the Power Macs. You, you mentioned at MacWorld and the Java(??) center in New York that Yeah you did have some problems keeping those on the shelves and you were trying to take some steps to correct them. (ah) What about the supply issues to make sure that everybody can, can get a Apple product that they want?
	Steve Jobs	Well we're buildin' lots of products. (um) The demand may be even greater than 'lots of products'. but were building (ah) quite a few of them. So, were, we're gonna find out, see how many iMacs fly off the shelves this weekend. But (ah) I we're doing our best to keep up with demand. It's a nice problem to have.
	Interviewer:	It is... (um) One other question. Let's say that the iMac fufills *ALL* of your wildest dreams and your wishes and becomes *the* technology story of the year. And that your G3 pwoerbooks and Power Macs continue to sell well, as well and the street starts hitting, you know, past your 52 weeks high. Let's say it gets to 55, 60 dollars a share. Will you consider your mission as interim CEO accomplished or are there other things, other goals that you have there at Apple?
	Steve Jobs	(um) You know, we, we have a lot of goals here but, but we tend to really focus on what we're doing at the moment, in terms of what we talk about, and, and that is really iMac right now so (um) thats what we tend to talk about right now. (smile)
	Interviewer:	Mr. Jobs Thank you very much for joining us.
	Steve Jobs	Sure
	Interviewer:	Appreciate it all.
	Steve Jobs	Ok
	Interviewer:	That was Steve Jobs live from Cupertino California. (end)