Fortune’s ‘21 Dumbest Moments in Business 2008’ (#8 I Am Rich app, #19 Steve Jobs obituary)

Jobs’ ‘greatly exaggerated’ death

“Newspapers prepare obituaries of famous people before they die, but few publish them while the subjects are still alive. In August, Bloomberg News accidentally releases an obit for Apple CEO Steve Jobs, who – despite a well-publicized brush with pancreatic cancer – is still alive and kicking,” Michal Lev-Ram writes for Fortune.

“As if that wasn’t enough, in October a post on CNN’s user-generated site, iReport, claims that Jobs has suffered a heart attack. The erroneous report sends Apple’s stock down 10% in just 10 minutes,” Lev-Ram writes.

Lev-Ram writes, “At his next media appearance, Jobs appears in front of a giant screen with the message, ‘The reports of my death are greatly exaggerated.'”

An iPhone app for just $999.99

Lev-Ram asks, “Nobody would pay nearly a thousand bucks for a screen-saver, right?”

“The release of the new Apple iPhone in July introduces to the masses the world of mobile video games and other time-sucking applications designed by non-Apple software developers – most of them available for less than $10,” Lev-Ram writes.

Lev-Ram, “But one application sneaks past Apple’s gatekeepers and onto the company’s new App Store: ‘I Am Rich,’ a $999.99 screen-saver whose sole feature is a glowing red jewel. Apple gets blasted for making the application available for sale and then quietly removing it, but the real losers? The eight suckers who bought it.”

Full article, with 19 other “Dumbest Moments,” including “Microsoft overbids for Yahoo,” here.


  1. Dumb business move? It was a brilliant move on the part of those who are shorting and profit-taking at the cost of Apple’s stock. All they have to do is arrange for a rumour or “accidental” report of Jobs’ death and watch the money flow in as the stock dives.

  2. Until the SEC begins to aggressively and effectively enforce the “naked short” rule, APPL will remain in virtual free-fall. Oh, yeah, they issue all kinds of press releases about pursuing this kind of banned trade with new fervor, but they’re simply not following through. Until they do, we won’t see the top side of 100 again.

  3. And number 23, a anonymous business person losses sanity and just about everything else after becoming obsessive compulsive about whinning on Mac forums about matte screens after losing motor skills control to type “matte screen covers computers” into google.

  4. Just look at the lack of posts in the “5 Day Most Commented” column. MDN and their lame hit bait articles are causing the site to take a dive, as people are getting sick of weeding through the crap (i.e. US political garbage) to read something of actual value.

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