Citation
On the Firing Line: My 500 Days at Apple
TL;DR
Apple was 90 days from bankruptcy in 1997
First-hand account from Apple CEO Gil Amelio documenting the company's near-death state before Steve Jobs' return. Provides crucial context for understanding just how close Apple came to bankruptcy - 90 days from death with $1 billion cash burning at $1 billion/year.
Key Findings from Amelio & Simon (2006)
- Apple was 90 days from bankruptcy in 1997
- Had $1 billion cash but burning $1 billion per year
- Multiple failed products (Newton) draining resources
- Mac clone licensing was cannibalizing sales