Steve Jobs: Great Innovator In The History Of Modern Capitalism

Steve Jobs once said, “You gotta have a problem you wanna solve. A wrong that you wanna right, and it’s gotta be something you’re passionate about because otherwise you won’t have the perseverance to see it through.” This is exactly what Steve Jobs did when he started Apple thirty-nine years ago by making personal computers affordable for everyone.

“Steve Jobs is one of the great innovators in the history of modern capitalism,” New York Times columnist Joe Nocera told CNN's Piers Morgan. “His intuition has been phenomenal over the years. But four decades ago, one might have been hard-pressed to spot clues to Jobs' future success.”

Steve Jobs attended Oregon Reed College but after one semester dropped out. He later returned to take part in

“We both loved electronics and the way we used to hook up digital chips. Very few people, especially back then had any idea what chips were, how they worked and what they could do” (Wozniak). Steve and Wozniak began working together when Wozniak, “a talented, self-educated electronics engineer, began constructing boxes which enabled one to make long-distance phone calls for free; they sold several hundreds of models” (Griggs). Later Steve discovered Wozniak assembling a computer machine and convinced him to sell

So Jobs approached a local computer store, The Byte Shop, who said they would be interested in the machine, only if it came fully assembled. (Wozniak) Paul Terrell, the owner, ordered 50 of the machines and would pay Jobs and Wozniak $500 for each unit on delivery. They then took their purchase order to Cramer Electronics, a national electronics parts distributor, and ordered the components necessary to assemble the Apple 1. The credit manager at the parts store asked Jobs and Wozniak how they were going to pay for all of the parts and Jobs presented them with the purchase order form The Byte Shop. After everything was validated, Jobs and Wozniak received a 30 day credit time frame and in that time they built the computers, sold them to The Byte Shop and then paid Cramer Electronics. (TIME) Soon after the Apple I came out, they began working on the Apple II, which was meant to be an improved version of the Apple I. Steve and Wozniak wanted to make it with half as many chips, which in turn would create a better and faster product. They also integrated color into the Apple 2 and fine-tuned the graphics, which would result in a better image and help with the newly integrated color scheme.