Do We Believe the Jobs Hype?

I read an article this week about Steve Jobs being crowned "CEO of the Decade" by Fortune 500. My gut reaction was that of surprise and disgust. After the initial shock wore off I tried to analyse why I felt the way that I did towards Jobs. Was it because I have a natural resentment toward Macs? Was it because he was one of the few people who was successful in these tough economic times? The conclusion that I cam to is that it is natural for "captains of industry", and Jobs was quoted as being a modern rendition of this Gilded Age figure, to be both heralded and despised in their own time.

People talk now about the brillance of Rockafeller, Ford and Carnegie. They are most commonly thought of as self-made men who knew what was needed to be successful in the business world and let nothing get in the way of their goals. We do not often hear about the, at times, deplorable conditions their workers were subjected to, or the massive chasm that existed in those times between the high and low classes. Most often we hear about how much wealth they were able to accumulate.  During their own times, however, they were looked upon as idols by the wealthy and devils by the poor. 

Personally I think that it will be the same with Steven Jobs. In fifty years no one will hear about his liver transplant, or about how he left his company and then came back. They will probably not read about his anti-corporate attire or his uniquie quirks. They will know, however, that his net worth exceeded 5 billion dollars, and that is just counting his investments in Disney and Apple. People will undoubtadly hear how the "self-made man" started this obscure business in his garage and eventually became the most successful CEO from 2000-2010.

If you did not see the article and would like to read it I have provided the link below:

http://money.cnn.com/2009/11/04/technology/steve_jobs_ceo_decade.fortune/index.htm

Comments

[Kyle]

That is one plum article. I happen to have the opposite reaction with respect to Jobs than you in that I want to pay attention to what he is pushing or moving into, as could possibly be the next big thing. In addition, his business achievements are something to be admired. As the article says, rare is the person who is capable of effecting four industries, let alone one (music, movies, mobile phones, computers).
I have to disagree in your assessment of the three Gilded Age titans. I think that current knowledge of these men includes the range of their activities, from building businesses to questionable labor practices. If anything I would almost say that their names are more associated with immorality and corruption of power than with anything "good."
As an investor in Apple I am always concerned with the deep connection between Jobs and his company. There does not seem to be any succession plan in place, and if there is it is not public at all. It seems like it would be in the company's best interest to disclose at the very least that some plan is in place for when Jobs is no longer in charge. Perhaps that would detract from the mystique of the company or something. It is also possible that even following Jobs departure Apple will live a long and varied existence just as other corporations did following the departure of their founders.

[Lindsey Bestebreurtje]

"In fifty years no one will hear about his liver transplant, or about how he left his company and then came back. They will probably not read about his anti-corporate attire or his unique quirks."

Do you really think that Jobs being against corporate attire can be compared to the kinds of working conditions suffered by turn of the century steel workers at the hands of Carnegie and Rockefeller?