Increased knowledge! The toughest comeback history in Silicon Valley: Jobs' desperate decade and $7 billion reversal! Many people only remember the infinite glory of Steve Jobs pulling out the iPhone at the press conference, but in the view of Reply CEO Amjad Masad, the most legendary story in Silicon Valley is the decade when Steve Jobs was exiled to the wilderness after being fired from Apple. He spent $5 million to buy Pixar back then, and then invested another $50 million, losing money continuously for ten years. At his worst, he even had to write checks out of his own pocket to pay his employees, and everyone thought he was about to go bankrupt. But in the end, he persevered and sold Pixar to Disney for a sky high price of $7 billion. During that long period of decline, his Pixar and NeXT companies had almost no sales and were completely on the brink of death. The outside world has always thought that Apple later bought NeXT just to bring Jobs back smoothly. On the contrary, at that time, Apple was caught in a serious operating system crisis when it turned to Intel chips. It was NeXT's system based on Unix and Objective C that saved Apple's life, and this system became the foundation of later macOS, allowing Apple to completely maintain its core competitiveness. Being able to withstand a long cycle of despair and persevere to the end is the top moat for entrepreneurs.