The Innovation Hubs

Last night, the world was given the very sad news that Steve Jobs, the co-founder, chairman and former CEO of Apple Inc had passed away from his battle with Pancreatic Cancer.  Although the news isn’t a complete shock, there have been rumours and speculation for the past few months when he stepped down from his everyday duties.  However, it’s left us with a void.

It’s amazing how many people have been influenced by what he was able to accomplish along with his staff at Apple.  I am more impressed how in such a short time he has been able to change the way we listen to music, watch movies and talk on cell phones.  It wasn’t too long ago that on the subway we had cassette players and CD disc-man.  But slowly, you started to see a trend, a revolution in fact.  More and more people were buying into the Apple brand and soon, buses and subways were filled with everyone with a portable device. 

He was intelligent enough to see that there was potential with the music industry, at a time when the industry was dealing with a major crisis on it’s hands.   In 2001 Apple launched a sleek new handheld product, a portable digital music player called the iPod. Similar to MP3 players introduced by other companies, the iPod allowed users to download music from CDs or from online sites. Apple sold three million iPods in less than three years. By 2004, almost half of the digital music players bought by consumers were iPods. A sign of things to come.

Job’s next move, in 2003, was to open an online music store. The music industry had been at the lowest point with regard to sales.  At the same time, file sharing websites were being used at a record high.  People were choosing free file-sharing services like Kazaa and Napster to download the music they wanted to listen to.

(Steve Jobs, second from the right with: Jimmy Iovine, Chairman of Interscople-Geffen and A&M Records; Bono and The Edge from U2)

After the big takedown of all the free music sharing websites, Apple introduced the iTunes Music Store. Others had attempted online music sales before with less fanfare.  Apple’s iTunes changed all that.  Not only did he simplify the process, but he also aligned himself with some of the most important and influential record companies and artists.

Today Apple’s iTunes has a major share in the marketplace and is now important way artists can release their music to their fans on the same day it’s being brought out to radio.  People can buy music from the comfort of their own home and listen to it on their devices easily.

A lot has been said what Apple will do after Steve Jobs passes away.  Steve has always aligned himself with innovative and intelligent people.  He’s built a company on that philosophy and the greatest thing Apple can do is to continue his legacy with that in mind.

Happy Thanksgiving
Greg