Netgear CEO Trashes Steve Jobs, Predicts WP7's Demise
January 31, 2011 7:28 AM
comment(s) - last by
Netgear Chairman and CEO Patrick Lo.
(Source: Flickr.com/Jeremy Toeman)
Says Apple will eventually lose out to the more open Android
Netgear Chairman and CEO Patrick Lo has never been a shy guy, as evidenced most recently by his "scathing attack" on Apple CEO Steve Jobs in an
The Sydney Morning Herald
"Steve Jobs wants to suffocate the distribution so even though he doesn't own the content he could basically demand a ransom," Lo told
, referring to the closed delivery model of iTunes.
This was just one specific criticism from a broad discussion of closed and proprietary products vs. open ecosystems like Google's Android. Lo said that Apple has succeeded so far because they "own the market" of many of their products, like the iPod with MP3 players. However, Lo predicted that, like Betamax vs. VHS and Mac vs. Windows, the open platform -- again referring to Android -- would win in the long run.
"Once Steve Jobs goes away, which is probably not far away, then Apple will have to make a strategic decision on whether to open up the platform," Lo told
. "Ultimately a closed system just can't go that far ... If they continue to close it and let Android continue to creep up then it's pretty difficult as I see it."
Lo predicted that Android would eventually become the standard for a range of consumer electronic devices, pointing to its recent
overtaking of Apple in global market share
He also attributed Jobs' trashing of Adobe Flash as nothing more than an issue of ego.
As for Windows Phone 7, Lo said that Microsoft had fallen behind its competitors and would continue to languish there. "Microsoft is over - game over - from my point of view," he told
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1/31/2011 11:23:14 AM
One of the core reasons that Apple stock is so high is because they have a ludicrously large pile of cash that is just sitting there. The investors want that cash to be paid out to shareholders as a dividend since Apple seems unlikely to spend it - probably because they would have to buy both GM and Ford to actually spend it all. Microsoft did a one-time dividend of their cash hoard back in the early 2000's.
That is the main reason that their P/E is so high. It is probably trading at about 30-40% over where it should actually be, based upon performance and earnings trends.
"Game reviewers fought each other to write the most glowing coverage possible for the powerhouse Sony, MS systems. Reviewers flipped coins to see who would review the Nintendo Wii. The losers got stuck with the job." -- Andy Marken
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