You've heard the news by now. Steve Jobs is no longer the CEO of Apple.
He has held that position since 1997 and led the company he co-founded through its historical turnaround.
Now, in his resignation letter, Jobs said he could no longer meet his duties and expectations as CEO.
But it is important to note that Jobs will remain Apple's chairman.
Now, he is well-known for being hands-on.
Now, he has made two major public appearances this year, despite being on medical leave since January. And this is his latest, just two months ago.
It is worth remembering just how many businesses Apple has transformed under Jobs.
The personal computer, it has come a long way:
from the Apple II, making the computer affordable enough for anyone to own, to the Macintosh, making it accessible for anyone to use.
Or the iPod, which surpassed the Sony Walkman, becoming the personal music player of its generation.
Now, the iTunes Store, it transformed the music business. It is now said to be the world's biggest music store.
And then there was the iPhone, turning the mobile phone into a proper computing platform in its own right.
Now, Jobs' latest gadget is, of course, the iPad, and analysts think it could reach sales of $44 million this year alone.
It's really hard to overstate just how important Steve Jobs has been to business, to the economy, what he's done, because he's really revolutionized so many businesses.
His biggest impact on business is that he has taught people that the product is all that matters.
What Jobs recognized was that the introduction of the product is your one chance to send a message to the public about what this thing is,
and he treated it like a Hollywood premiere.
An iPod, a phone. Are you getting it?
It was a piece of theater, and he treated it like a piece of theater.
And he invited the audience, he primed them like you would send out the trailers for a movie,
and then he did a performance, every second of which was carefully choreographed and scripted and rarely went wrong.
Most companies will do a market study and say,
"Well, what do we think the appetite for this product is, what will be the price elasticity, what's the market size,
what's the correct way for us to go out and sell it?"
And Apple has done none of that.
Apple says... Steve Jobs says, "We think people are gonna want an iPhone. We think they're gonna want a smartphone that looks beautiful,
and that does these various things, and we're gonna build it. And then we're gonna go tell them about it, and then they're gonna buy it."