1. When Sony launched the Walkman, skeptics predicted doom for an expensive device ($150 at the time) that played but couldn’t record. It turned out to be a blockbuster hit.
Early Walkman versions had TWO headphone jacks so you and a friend could listen at the same time.
2. Though Sony had a 22-year headstart on Apple in portable music devices, it was too late to embrace MP3s, and the iPod soon dominated the genre. Sony’s boss Sir Howard Stringer had siloed the company’s divisions, which kept Sony from building an integrated iTunes/iPod solution.
3. This was a huge miss on Sony’s part because at the time Sony not only had an incredible electronics division but a massive recording/music business that it could’ve combined to deliver an iPod-like solution. Steve Jobs masterfully plugged that gap.
Apple employee: You don’t know what you’re talking about!
Steve Jobs: You’re right. I’ve made many mistakes and have the scar tissue to show for those. But hear me out…
Amazing response - can’t imagine many CEOs handling this so gracefully.
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