Steve Jobs
“Jim Collins summarized in ‘Built to Last’ that one of the traits of great companies is ‘pursuit beyond profit,’ and Jobs and his Apple have provided the most perfect interpretation of this trait” — Duan Yongping (2014-02-01)
👤 Basic Information
- Identity: Co-founder and former CEO of Apple Inc.
- Relationship with Duan Yongping: One of the core reasons Duan Yongping deeply studied Apple; one of the entrepreneurs Duan Yongping admires most
- Duan Yongping’s evaluation: Both a time-teller and a clock-builder; the most complete embodiment of pursuit beyond profit
💡 Duan Yongping’s Evaluation of Steve Jobs
“Jim Collins once summarized in ‘Built to Last’ that one trait of great companies is ‘pursuit beyond profit,’ and Jobs and his Apple gave the most perfect interpretation of this trait.” (2014-02-01, Business Logic Volume)
“I used to always think Jobs was a time-teller. Recently I suddenly felt that without Jobs, Apple couldn’t have become what it is today. For today’s Apple, Jobs’ role isn’t as significant anymore.” (2011-01-22, Investment Logic Volume)
“Cook is a better CEO than Jobs. Cook is more rational, while at the same time deeply understanding Jobs’ core pursuits in his bones… Cook is actually one of Jobs’ greatest inventions (discoveries).” (2018-08-07, Business Logic Volume)
“Because I saw that clock.” (2012-03-29, on why he realized Jobs is a clock-builder)
💡 Steve Jobs’ Core Philosophy (Original Text)
Duan Yongping quoted Jobs’ complete autobiography at the beginning of the Business Logic Volume and read it repeatedly:
“My passion is building a company that can last for generations, where people are highly motivated to create great products. Everything else is secondary. Of course, making money is great because then you can make great products. But the motivation comes from the products, not profits. Scully got it backwards and made profit the goal. The difference is subtle, but it affects everything: who you hire, who you promote, what gets discussed in meetings.” (Jobs’ own words, quoted by Duan Yongping, 2014-02-01, Business Logic Volume)
“Some people say: ‘Give customers what they want.’ But that’s not my approach. Our responsibility is to figure out in advance what they’re going to want.” (Jobs’ own words, quoted by Duan Yongping, 2014-02-01, Business Logic Volume)
💡 Time-Teller vs. Clock-Builder: Duan Yongping’s Epiphany
Duan Yongping initially classified Jobs as a “time-teller” because of Built to Last, which caused him to miss the early opportunity to invest in Apple:
“Built to Last is a good book, but it caused me to lose the opportunity to invest in Apple early on, because after reading it I classified Jobs as a time-teller (most people still think so today). Luckily later I suddenly realized he’s actually also an excellent clock-builder.” (2012-03-25, Business Logic Volume)
Later epiphany:
- Jobs established Apple University to cultivate next-generation leaders
- Jobs discovered and appointed Cook as CEO
- The corporate culture Jobs built allows Apple to remain great even after his departure
“Add one more: discovering and appointing Cook as CEO.” (2015-03-20, on Jobs’ contributions)
❓ Selected Q&A
Q: Is Jobs a time-teller or a clock-builder?
A: I used to always think Jobs was a time-teller, but recently I suddenly felt that without Jobs, Apple couldn’t have become what it is today. For today’s Apple, Jobs’ role isn’t as significant anymore. Even if Jobs didn’t plan to return, today’s Apple would continue moving forward by inertia. (2011-01-22, Investment Logic Volume)
Q: Why did Jobs make you realize Apple is a good company?
A: Because I saw that clock. (2012-03-29, Investment Logic Volume)
Q: What will happen to Apple after Jobs leaves?
A: Has Apple declined? Apple has never been as strong as it is now! What this means is that without strong culture, there cannot be great companies. Jobs wanted to build strong corporate culture and indeed succeeded! Only strong corporate culture can continuously attract good talent and retain them. (2014-02-02, Business Logic Volume)
Q: Who is better, Cook or Jobs?
A: Cook is a better CEO than Jobs. Cook is more rational, while at the same time deeply understanding Jobs’ core pursuits in his bones. When I met a senior investor from the investment community recently, I said I thought Cook was actually a better CEO, and he said he thought the same thing too. Built to Last says Jobs is a “time-teller,” but actually Jobs is simultaneously also an excellent “clock-builder,” and Cook is actually one of Jobs’ greatest inventions (discoveries). (2018-08-07, Business Logic Volume)
Q: What influence has Jobs had on you?
A: OPPO and APPLE actually share many similar genes, which is one of the reasons I was eventually able to understand APPLE. (2011-08-07, Investment Logic Volume)
One important reason I like Apple’s business model comes from my 20+ years of experience in consumer electronics. Apple is a business model I’ve always dreamed of but seemed difficult to achieve. (2013-01-22, Investment Logic Volume)
📖 Investment Insights
How Jobs’ “Pursuit Beyond Profit” Influences Duan Yongping’s Investment Judgment
Duan Yongping quoted Jobs’ own words at the beginning of the Business Logic Volume, indicating he regards Jobs’ philosophy as a core framework for understanding good companies. Jobs’ “motivation comes from the products, not profits” aligns perfectly with Duan Yongping’s “pursuit beyond profit.”
Genetic Similarity Between OPPO and Apple
Duan Yongping said “OPPO and APPLE actually share many similar genes” — this similarity goes beyond product level to企业文化 level:
- Consumer-oriented (not market-research oriented)
- Single-product strategy (focusing resources on making the best product)
- No OEM business (maintaining brand independence)
This similarity allowed Duan Yongping to use his own management experience to understand Apple, establishing genuine margin of safety.
🔗 Related Notes
Related People 段永平 · 巴菲特 · 库克 Related Companies 苹果 · OPPO Related Concepts 利润之上的追求 · 企业文化 · 生意模式 · 好公司的标准 Related Topics 段永平的经典投资案例
乔布斯
“吉姆.柯林斯在《基业长青》中曾经总结过伟大企业的其中一项特质是’利润之上的追求’，乔布斯和他的苹果给予了这项特质以最完美的诠释” — 段永平（2014-02-01）
👤 基本信息
- 身份：苹果公司联合创始人、前CEO
- 与段永平的关系：段永平深度研究苹果的核心原因之一，是段永平最推崇的企业家之一
- 段永平的评价：既是报时人也是造钟人；利润之上追求的最完整诠释者
💡 段永平对乔布斯的评价
“吉姆.柯林斯在《基业长青》中曾经总结过伟大企业的其中一项特质是’利润之上的追求’，乔布斯和他的苹果给予了这项特质以最完美的诠释。“（2014-02-01，商业逻辑篇）
“我曾经一直认为Jobs是个报时人，最近突然觉得只有Jobs的苹果是不可能成为今天这个样子的。今天的苹果，Jobs的作用已经不是那么大了。“（2011-01-22，投资逻辑篇）
“库克是个比乔布斯更好的CEO。库克更理性，同时骨子里对乔布斯的追求非常理解……库克其实就是乔布斯最伟大的发明（发现）之一。“（2018-08-07，商业逻辑篇）
“因为我看见那个钟了。“（2012-03-29，谈为什么悟到乔布斯是造钟人）
💡 乔布斯的核心理念（原文）
段永平在商业逻辑篇开篇引用了乔布斯的完整自述，并反复阅读：
“我的激情所在是打造一家可以传世的公司，这家公司里的人动力十足地创造伟大的产品。其他一切都是第二位的。当然，能赚钱很棒，因为那样你才能够制造伟大的产品。但是动力来自产品，而不是利润。斯卡利本末倒置，把赚钱当成了目标。这种差别很微妙，但它却会影响每一件事：你聘用谁，提拔谁，会议上讨论什么事情。“（乔布斯自述，引用自段永平，2014-02-01，商业逻辑篇）
“有些人说：‘消费者想要什么就给他们什么。‘但那不是我的方式。我们的责任是提前一步搞清楚他们将来想要什么。“（乔布斯自述，引用自段永平，2014-02-01，商业逻辑篇）
💡 报时人 vs 造钟人：段永平的顿悟
段永平最初因为《基业长青》把乔布斯划为”报时人”，因此错过了早期投资苹果的机会：
“《基业长青》是本好书啊，不过这本书让我失去了早期投资苹果的机会，因为看完这本书后我就把乔布斯划到报时人里去了（现在绝大多数人还这么认为）。还好后来突然悟到其实他还是一个很好的造钟人。“（2012-03-25，商业逻辑篇）
后来的顿悟：
- 乔布斯建立了苹果大学，培养下一代领导者
- 乔布斯发现并任命库克为CEO
- 乔布斯建立的企业文化让苹果在他离开后依然伟大
“加一个：发现并任命库克为CEO。“（2015-03-20，谈乔布斯的贡献）
❓ 精选问答
问：乔布斯是报时人还是造钟人？
答：我曾经一直认为Jobs是个报时人，最近突然觉得只有Jobs的苹果是不可能成为今天这个样子的。今天的苹果，Jobs的作用已经不是那么大了。就算Jobs不打算再回来，今天的苹果也会靠惯性向前的。（2011-01-22，投资逻辑篇）
问：为什么是乔布斯让你悟到苹果是好公司？
答：因为我看见那个钟了。（2012-03-29，投资逻辑篇）
问：乔布斯离开后苹果会怎样？
答：苹果衰落了吗？苹果其实从没有像现在这么强大过！这段话的意思是，没有强大的文化，就不会有伟大的公司。乔布斯就是想建立强大的企业文化并且确实做到了！只有强大的企业文化才能不断吸引到好的人才并留住他们。（2014-02-02，商业逻辑篇）
问：库克和乔布斯谁更好？
答：库克是个比乔布斯更好的CEO。库克更理性，同时骨子里对乔布斯的追求非常理解。前段时间我见到一个投资界的老前辈时，我说我认为库克其实是个更好的CEO时，他老人家说其实我也这么认为。基业长青里说乔布斯是个”报时人”，其实乔布斯同时还是个非常好的”造钟人”，库克其实就是乔布斯最伟大的发明（发现）之一。（2018-08-07，商业逻辑篇）
问：乔布斯对段永平有什么影响？
答：OPPO和APPLE其实有很多相同的基因，这也是我最后能看懂APPLE的原因之一。（2011-08-07，投资逻辑篇）
本人喜欢苹果生意模式的很重要的一点来自于自己在消费电子20多年的体验，苹果是我一直梦寐以求但似乎难以达到的生意模式。（2013-01-22，投资逻辑篇）
📖 投资启示
乔布斯的”利润之上追求”如何影响段永平的投资判断
段永平在商业逻辑篇开篇就引用乔布斯自述，说明他把乔布斯的理念视为理解好公司的核心框架。乔布斯的”动力来自产品，而不是利润”，与段永平的”利润之上的追求”高度契合。
OPPO与苹果的基因相似性
段永平说”OPPO和APPLE其实有很多相同的基因”——这不只是产品层面的相似，更是企业文化层面的相似：
- 消费者导向（不是市场调研导向）
- 单一产品策略（集中资源做最好的产品）
- 不做OEM（保持品牌独立性）
这种相似性让段永平能够用自己的经营经验来理解苹果，建立真正的安全边际。
🔗 相关笔记
相关人物 段永平 · 巴菲特 · 库克 相关公司 苹果 · OPPO 相关概念 利润之上的追求 · 企业文化 · 生意模式 · 好公司的标准 相关主题 段永平的经典投资案例