Bloomberg Video Interview - Shahid Khan Praises Steve Jobs, Predicts New Market Leader

Warren Buffett and BofA, Steve Jobs and Apple

Aug. 25 (Bloomberg) -- Andrew Kilpatrick, author of "Of Permanent Value: The Story of Warren Buffett," and Shahid Khan, chairman of MediaMorph Inc., talk about Warren Buffett's $5 billion investment in Bank of America Corp. and Steve Jobs's resignation yesterday as chief executive officer of Apple Inc. They speak with Carol Massar and Matt Miller on Bloomberg Television's "Street Smart." (Source: Bloomberg)



WATCH THE VIDEO HERE

Shahid Khan Quotes

"I think the market already had accounted for Steve Jobs not being at the helm. There was no Steve Jobs premium in the stock price. Yesterday it took a little hit in the after-market trading, but today it's back to normal."

"The industry itself is at an inflection point, with Google's acquisition of Motorola, with HP dumping WebOS. In the whole mobile industry, we're down to a three-horse race. It's basically Android, it's Apple's IOS, and it's Microsoft. With that, and Steve Jobs not being at the helm of Apple, there is an opening for somebody else to come in and become #1 now."

"[Steve Jobs] was a perfectionist, so with him, it was about coming up with really innovative, groundbreaking ideas, and then focusing on flawless execution. Everything that he launched was perfect, with immaculate user experience."

"Technology is a very fickle industry. People have come up with iconic products in the past, and no body remembers them anymore. MySpace used to be big, Facebook has taken over. If you leave any gap in the marketplace, others can come in and take it over."

Watch the video at Bloomberg.com