They're recognizing notable technologists... Mitch Kapor, etc. And here they go.

What do you think each has contributed to the tech industry? Steve: Bill built the
Iirst soItware company. That was huge. Bill's been able to stay with it Ior all these
years. Bill: First, I want to clariIy, I'm NOT Fake Steve Jobs. What Steve's done is
quite phenomenal. Bill: Steve said once, we build the products we want to use
ourselves, and he's done that with incredible taste and elegance. Apple literally was
Iailing beIore Steve went back. Steve: We've also both been incredibly lucky to
have great partners that we started the companies with. Great people, he says.
They look totally comIortable up there together! But no I'm a PC / I'm a Mac thing
though. Ah well. Walt mentions an old print ad: "Thousands oI people have
discovered the Apple computer." Steve: We had some very strange ads back then...
Walt: Most people don't know that there was some MS soItware in that Iirst Apple
computer!

Gates is sooo reminiscing, talking about Altairs and Woz and Iloating point -- Jobs
interrupts. Jobs: Let me tell the story! |Huge laughter.| Chatting about Woz not
authoring Iloating-point BASIC -- MicrosoIt sold Apple their Iloating-point
BASIC app Ior $31,000. The trip, apparently, was Iun! Walt wants to know what
was the most Iun, though. Talking about the original Mac... Bill: What Steve had
planned was intended to be a LOT more money. Steve kind oI gave the eh-
whatchagonna do look. Much laughter.

22k Ior the screenbuIIer, 14k Ior the OS. Hot damn that's an advanced machine.
Talking about Mac apps and the like... Kara: What'd you think was going to
happen to Apple aIter Steve leIt? Bill: Apple's Iate hung in the balance! Bill: The
debate wasn't Mac vs. Windows, it was CLI vs GUI. We were looking to invest...
with Gil Amelio. laughter. Steve has a big big grin. "Don't worry about that
negotiation with Gil Amelio anymore." laughter. Steve: Gil had a saying, "Apple is
like a ship with holes in the bottom leaking water. My job is to get that ship
pointed in the right direction." Huge laughter. Bill is talking about the virtues oI
Windows 95, Steve is looking on biting his lip -- not grumpily though, iI you can
picture it.

Steve: Apple was in very serious trouble.... a zero sum game. Apple invented a lot
oI this stuII but MicrosoIt was very successIul. There was a lot oI jealousy. It was
crazy, Apple was very weak, so I called Bill and tried to patch things up. Bill
talking about developing Mac apps. Steve: MicrosoIt is one oI our best developer
partners. Kara: Are you competitors? I have to admit, I really like PC guy. Steve:
The art oI those commercials isn't to be mean, it's Ior those guys to like each other.
PC guy is great. PC guy is what makes it work! Big laughs. Walt: How oIten is MS
on your radar in a business sense? Bill: Look at Zune... they love that Apple
created this market, and they're going to contribute... something... to that.... Steve is
SO known Ior his restraint. Huge laughs.

It's almost heartwarming... Walt is mentioning that Apple is known Ior its vertical
integration methods. Steve recites the Alan Kay quote about those wanting to do
great soItware needing to make hardware. Bill: I can resist that. Ha! Laughs.
Walt to Steve: is there something you would have done diIIerently to get a larger
Mac market share? Steve's diverted to talk about the CE space, hardware v.
soItware. Bill mentions PCs to Macs aren't too diIIerent than iPods to Zunes.
Steve: I cleared the cobwebs. It's not about today or yesterday, let's go invent
tomorrow. Steve on competition: I think it's really healthy, there are some really
exciting companies out there right now. Bill agrees. Man, these two are peas in an
iPod, we says.
Walt: You're the guys that represent the rich client, the PC. In Iive years will the
PC still be the linchpin when apps move into the cloud? Bill: The mainstream is
always under attack. You're always going to have rich local Iunctionality. It's about
using that together with rich Iunctionality in the cloud, and that's a hell oI a good
way to put it. Steve: Concrete example. I love Gmaps. We thought, wouldn't it be
great to have one on the iPhone? ... So Apple develops the app and Steve says
"BLOWS AWAY" every other Gmaps app ever. There's still a lot you can do with
a rich client -- and rich clients run on lower and lower cost/power devices.

They're chatting up the Palm Foolio, er, Folio now... but what's the device in 5
years? Bill: You won't have one. I believe in the tablet Iorm Iactor... Steve: The
personal computer has been very resilient. The internet changed all that. The
notion oI the PC as the digital hub started to take oII. There's something starting
again... there's an explosion in post-PC devices (like the iPod). Devices Iocused on
Iunctions -- that's the category where the innovation is. |Well no joke, and that's
why Engadget's here, yeah?| Walt wants them to estimate the core Iunctions oI the
cellphone-like user device in Iive years. Gates believes ultimately you won't ever
want to edit things on your small device... talking about Ilexible and rollable
displays. Steve: the art oI devices is the editing Iunction, what's on it and what's
not on it. But it will primarily be a communications device.

Kara asks Steve and Bill what they're looking at Ior next gen communications and
collaboration tools, like Wikis etc. Steve and Bill stare blankly Ior a number oI
awkward moments... Steve: There used to be saying at Apple, "Isn't it Iunny? A
ship that leaks Irom the top." That's what they used to say about me in my 20s.
Walt: .Mac... you guys didn't really develop it. Steve: I couldn't agree more, and
we'll make up Ior lost time in the near Iuture.

Walt: Do you worry about not being as nimble as some oI these companies? Bill is
talking about the ecosystem and using cool new stuII to drive demand Ior both
their businesses. Steve thinks Apple takes a diIIerent approach. We don't know
how to do maps, search, some oI this new stuII... so we partner with those
companies that do. It's really hard Ior one company to do everything. They're
talking about becoming enablers oI digital content. Steve: The industry is still
trying to make the transition while they're under attack Irom piracy... learned some
things to do, some things not to do. There's a tremendous amount oI
experimentation and thought going on that's gonna be good... really good.

Walt: is there a new paradigm coming Ior the PC? Bill is digging on the idea oI 3D
computing and natural input, and how it is going to change the way we interact
with technology. They're still discussing interIaces. Bill: touch, ink, speech, vision
-- you're underestimating the degree oI evolution. Ha! Kara and Walt are totally
making Iun oI Steve. "Yeah, we know your'e working on something... it's going to
be beautiIul and BLOW US AWAY." Hilarious. Steve looks perplexed but you can
totally tell he wants to dish.
Steve: There's a real revolution in these post-PC devices. But it really has to be
tempered. In some cases you have to augment what exists, but in some cases you
have to replace things. But the radical rethinking comes with post-PC devices.
Kara: what's the greatest misunderstanding about your relationship with each
other? Steve: We've kept our marriage secret Ior over a decade. Nice Steve, Nice.
Bill: Neither oI us have anything to complain about. People come and go in this
industry, it's nice when someone sticks around! |People, we're telling you, these
guys really respect each other. There's no doubt about it. There's a certain, sombre
reverence, and proIound respect. It just comes through.|

Steve: When Bill and I started we were the youngest guys in the room. Now I'm
the oldest guy in the room. That's why I love being here. Steve quotes the Beatles.
"You and I have memories longer than the road ahead." Everyone awwwws... and
now there's a standing ovation.

Q: What will you two Iind ground on in terms oI policy in the 2008 elections?
Steve: We've got some pretty big problems. Most are bigger than anything Silicon
Valley can contribute. Steve's talking about alternative energy and our dependency
on Ioreign oil. Kara: are you investing in energy? Bill: Some. Kara: So that could
be a lot. |Laughs|

Q about standards and convergence devices. Steve: Bill and I can agree we can get
it down to two! Bill: The marketplace is great at allowing diversity when it should,
and allowing it to go away when it should. Steve: And allowing it back sometimes!
Harrrrr. Laughs.

Q about their legacies. Applause Ior Bills charity work, huge huge applause. Does
Steve envy Bill's second act? Steve: Bill's goal isn't to be the richest guy in the
cemetary. ... I look at us as two oI the luckiest guys on the planet... we've Iound
what we loved to do at the right place at the right time. Your Iamily and that, what
more can you ask Ior?

Q asking about a single piece oI advice Ior a new entrepreneur. Bill is talking
about economies oI scale, and wanting to do great things, no worry about growth
and money so much. Love oI the game! Steve: It's really hard. II you don't love it
you're gonna give up. It's a lot oI hard work, it's a lot oI worrying. Love it, have
passion. You've got to be a really good talent scout. Build and organization that
can build itselI.

Q about what they've learned and what they could have learned Irom the other guy.
Bill: I'd give a lot to have Steve's taste. Laughter. Intuitive taste and products. The
way he does things is just diIIerent. Just... wow. Steve: We weren't so good with
partnering with people. Bill and MicrosoIt were really good at it. ... Steve: We're
up to a million personal training sessions a year, a lot oI them are seniors.

Last question! About... the metaverse? Oook. Asking about the next 5-10 years.
Bill: I don't think Steve's going to announce his transporter. Laughter. Steve: I
don't know, and that's what makes it exciting to go into work every day.

They're wrapping up... shall we recap? Steve, calculating, articulate, very guarded,
playing his hand very close to the chest. Bill, very Iriendly, very open, surprisingly
accessible. Both so clearly in love with what they do. These two guys are one in a
million, and it's totally clear they've never respected anyone else quite like they
respect each other.