“We’ve demonstrated a strong track record of being very disciplined with the use of our cash. We don’t let it burn a hole in our pocket, we don’t allow it to motivate us to do stupid acquisitions. And so I think that we’d like to continue to keep our powder dry, because we do feel that there are one or more strategic opportunities in the future.”
- February 24, 1955 – October 5, 2011
- American
- Entrepreneur, businessman, industrial designer
- He brought to the world revolutionary products that combined technology and design at a high level, such as the personal computer Macintosh, iPhone, and iPad, and also revolutionized the music industry with the iPod, iTunes, and iTunes Store.
Quote
“We’ve demonstrated a strong track record of being very disciplined with the use of our cash. We don’t let it burn a hole in our pocket, we don’t allow it to motivate us to do stupid acquisitions. And so I think that we’d like to continue to keep our powder dry, because we do feel that there are one or more strategic opportunities in the future.”
Explanation
In this quote, Steve Jobs discusses Apple’s disciplined and strategic approach to managing its financial resources. Jobs stresses that Apple avoids the temptation to spend recklessly, whether by making unnecessary acquisitions or investing in ventures that don’t align with the company’s long-term goals. By being cautious with its cash, Apple ensures that it is in a strong position to seize on strategic opportunities when they arise. This approach reflects Jobs’ commitment to maintaining control and focus, ensuring that Apple only takes calculated risks that contribute to its growth and sustainability.
Jobs’ comment about keeping their powder dry emphasizes the importance of patience and being ready to act when the right opportunity presents itself. This mindset was instrumental in Apple’s ability to make bold moves, such as the acquisition of NeXT and Pixar, which eventually paid off in groundbreaking ways, including the return of Jobs to Apple. By managing its finances carefully, Apple maintained the flexibility to innovate and adapt to future changes in the tech industry.
Today, Apple’s ability to maintain a strong cash reserve continues to give it the financial flexibility to invest in innovative projects, acquire companies that align with its vision, and weather economic downturns. Jobs’ words highlight the importance of a balanced approach to corporate strategy—where disciplined financial management supports both short-term success and long-term vision.
