Stay Hungry, Stay Foolish…. – Steve Jobs

“Stay hungry” means you must always want more and more in terms of new opportunities.

“Stay foolish…” means, when everyone thinks that you are a fool for trying to do what you are doing, then pay no attention to them, simply stay a fool, continue to do what you set out to do, and in the end, someone will be eventually laughing to the bank.

Steve knows this too well, so as Bill Gates, even Mark Zuckerberg, and so as Donald Trump (especially when he was just a small time apartment manager in Cincinnati, Ohio).

At the beginning, non-visionaries always tend to stand on the side line, laughing at whomever is trying out new things, but in the end, they come running and begging, asking for hands out.

Now, who’s a fool?

Is Steve Jobs Dying?

Steve Job’s sudden resignation as CEO of Apple may signal something more personal, perhaps something about his personal medical that he knows that he might be near death. He hasn’t looked healthy in months. His face looks dehydrated and pale. I believe there’s more to this than what he’s making us to believe. Only time will tell.

As for Apple’s current stock price; it’s gonna nose dive for the next few weeks before it goes up again. If you’re a day-trader or short-term investor in Apple’s stock, sell now, until it reaches a concave-up, the lowest point it can go down, due to whatever the strain factors, until it goes up again.

Yes, Steve has been molding Tim Cook as his successor and the market has always been prepared for him, but not for this sudden, not right now. So, the market will have to feel comfortable with the new Apple’s CEO before it can go up again, but it will never be the same in its stock pricing, ever again.

Are ‘Music’ Record Labels Still Needed?

When coming to the Internet and music, there has been a long history of disruptive innovations, which some have caused controversy in online marketplace, but most of them have changed the music business and its revenue flow model.

In April 2000, Prince, also known as The Artist Formerly Known as Prince, became the first subject ever, to trade music online, in terms of pay-to-download. He released his remix album, “Rave In2 the Joy Fantastic”, exclusively through his NPG Music Club. That was in the year 2000, and the music industry should have seen this coming, but they stayed asleep, while the online music marketplace moved forward, evolved, and embraced the new business model, a no-revenue generation model as opposed to the traditional brick-and-mortal music stores.

The article, How Much Music is Worth, which was published in the Newsweek magazine, of October 29, 2007, further describes the disruptive online marketplace for the music industry. The article talks about the British rock band, Radiohead, which caused even further controversy in online music marketplace.

The band produced its much anticipated new CD, “In Rainbows”, but didn’t release it in the old fashion way, but made it available for download online. Not for-pay to download, such as what Prince did in April 2000, but for Radiohead, anyone could download its newly produced CDless music from the band’s official web site, and the twist to this was; there was no price tag on it, for what the user should pay to download the music.

The band left the price field empty left it up to the user to decide how much to leave in the band’s eshopping cart for downloading its songs. That’s right, you could download the entire new CD, without paying a dime, it’s up to you to decide how much to pay. But to get an unprotected code, a user is required to pay only $0.90, so you could download and play the songs on any device such as iPods, Zunes, and PCs.

The article reports that in the first few days of the band releasing their new eCD, over 1.2 million visitors to its web site downloaded “In Rainbows”. The article further states that consensus survey found that many customers paid $5 to $15 to download the band’s music, while some paid nothing.

But that’s not the whole story; the music industry has long been faced trouble, with users downloading songs online for free. It all started with the then Napster, which allowed the sharing and downloading of music online by anyone, anywhere. This led to the music industry scrambling to file lawsuits for anyone and everyone who downloaded their music online. To which they had no success, because two weeks ago, the music industry organization RIAA announced that it will no longer file lawsuits for sharing and downloading songs online for free.

Steve Jobs, founder of Apple, seemed like he was the long awaited savior of online music, with his introduction of IPod and iTunes Music Store.

However, to make it even worse, Steve negotiated with the music record labels to sell songs on Itunes Music Store for a flat fee of $0.99 per each song and only $10 per each CD download. This price is rather ridiculously low compare to the traditional CD pricing, which can rack up to $17 per CD, but with that, you get a CD with all kinds of songs, even those you don’t like. But, with online music, you get to pick which one you want and don’t want. The music industry went along with Steve’s proposal. However, they became unhappy because they realized that Steve was making more money selling iPods, than they do selling songs.

The article asks if $0.99 is the right price paid for each song on Steve’s iTunes Music Store. The answer is no. But it caused a high price elasticity of demand for online music trading.

“In general, as the price of a good rises, consumers will usually demand a lower quantity of that good; they may consume less of that good, substitute it with another product, etc. Actually, the greater the extent to which demand falls as price rises, the greater is the price elasticity of demand. Conversely, as the price of a good falls, consumers will usually demand a greater quantity of that good: consuming more of that good, while dropping substitutes” (Wikipedia.org).

In this case, as the price of music falls due to the downloading and sharing of songs online for free, the greater the demand, causing the price elasticity of demand to skyrocket. This in part is due to the fact that, even if consumers have no substitute for music, it’s not like, when the price of music rises, that consumers will replace it with something else, they just stop demanding for more. But now, they have more option on where to buy or share their music, or rather, where to download, at the lowest price and sometimes for free. And, free is always better when coming to music.

Newsweek Magazine should not have asked how much music is worth, but whether Record Labels are still needed, given that any artist can now release an album or in this case, an eCD, and make it instantly available to the general Internet users, without involving the Record Labels’ bureaucracy.

Apple’s Possible Future Without Steve Jobs

I am not and have never been a fan of Apple or its products, except its stock in recent years, but I like what Steve Jobs did by turning around the company.

Prior to the introduction of its new products such as iMac, iPod, etc, Apple seemed like it was going down the hill. For instance, in December 1997, its stock hit the lowest at $3.28. Most analysts then seemed to have written it off until the settlement of Microsoft’s antitrust case, coupled by the introduction of Apple’s new products; iMac, etc.

The problem that seems to face certain companies is when one solely brands and ties the company to the Founder/CEO, and if something happens to him or her, then it may seem like the company itself may also go down. So, with Steve Jobs, it may look like without him at the realm, that Apple may not do as good, but surely, it will hopefully continue to thrive.

Steve only needs to do what Bill Gates has done, by identifying or appointing his future replacement soon, so that the market can get to know and get used to the person who may replace him some day.

The Most, Very Unique Invention Idea to Make Billions, Only for You?

In today’s competitive global economy, it’s all about finding your niche’. Bill Gates (Microsoft), Steve Jobs (Apple), Google (Page & Brin), and many other entrepreneurs have magnificently excelled at doing this very same thing, they found their niche’, which they have and continue to exploit while making tons of money. You can also find your niche and proprietarily develop it, market it globally, and make a fortune.

However, in this age, it’s nearly impossible for you to come up with a completely unique invention to capitalize on it. Because, nearly every unique invention that you could come up with, has already been invented by someone else.

Here is the best news for you, but only if you hurry and grab this idea now. This was an idea proposed by my Evolutionary Biology professor, Dr. Taylor, at the Ohio State University.

The idea is; most of us know that most amphibians, such as Frogs, lay their unshelled eggs in shallow water. Their mating process is unique too; the male frog grabs the female frog from behind, and then the female frog squirts out the eggs, lots of them, and all the eggs are sprouted in the water, no nest, just wrapped up in a clear jelly like liquid that keeps the eggs together.

Since their eggs remain alone, unguarded and unprotected, they usually become a meal for most other amphibians. The result is the decrease in their species growth, for such as frogs and other amphibians, which may eventually extinct, as their population continue to evaporate due to slow reproduction.

Now, imagine if you come up with a new invention, an invention that can help amphibians lay their eggs better, protect them, and eventually cause their reproduction to increase. Not only that you’ll make gazillions, but you will also help save most of the amphibian species.

Well, hurry up, and grab this new great invention idea. And when you successfully develop it, please don’t forget me.