We really like this quote from Steve Jobs that one of our contributors sent across this morning… a fairly interesting (and totally Jobs-ian) way to look at things:
“We’ve had one of these before, when the dot-com bubble burst. What I told our company was that we were just going to invest our way through the downturn, that we weren’t going to lay off people, that we’d taken a tremendous amount of effort to get them into Apple in the first place ― the last thing we were going to do is lay them off. And we were going to keep funding. In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that’s exactly what we did. And it worked. And that’s exactly what we’ll do this time.”
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While I applaud Apple’s bravado what we are in for in 2009 and beyond is far different that the dot-com bubble burst. I agree that forward-looking companies should take ground while others are retreating, but this should be tempered with the prudence requisite of the seriousness of the situation.
Comment by Tobin Arthur December 16, 2008 @ 10:21 pm