Wednesday, September 14, 2011
Is Steve Jobs a monopolist or not?
Is Steve Jobs a monopolist or not? This question is a pivotal point and a wedge issue as we progress through the information revolution. In my opinion I would disagree with those who claim that Jobs is a monopolist. I would rather argue that Jobs is a revolutionary innovator that has paid his dues by navigating his way to the top of an industry that is driven by competition and technological savvy. Today Apple has one of the largest market caps on Wall Street, but many people forget the struggles that Jobs and Apple overcame in becoming one of the most innovative companies of the modern era. And when you’re the industry leader in a market where competition for cutting edge products for cash ready consumers is the motivator, Steve Jobs has become the innovator. What is most impressive to me is that Apple has achieved dominant market capitalization, sitting at the top of Fortune 500s and replacing companies like GE. However Apple has done this by creating high end luxury products that have become social media staples and appeals to all generations of consumers. It is unprecedented to see a company that is geared towards high end consumers with disposable income achieve the "titan" status that Apple can boast. So the debate over whether Jobs is a monopolist or not will play out in the years to come, as Jobs steps down from his post as Apple chairman and CEO. But one thing is for sure, if Apple plans to keep their position as the industry leader in this gadget crazy era of consumers, they must find a way to keep innovating products that will ultimately enhance their lives. Apple has managed to do this with the ipod, and has created a tablet market with the ipad. The question remains whether they can continue to pump out such innovative products. With the uncertainty that Apple faces it shows that Apple clearly does not have a monopoly, and Jobs is not a monopolist.
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