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Acquired

The Steve Ballmer Interview

Acquired

Ben Gilbert and David Rosenthal

Venturecapital, Ma, Investing, Acquisitions, Startups, Vc, Investment, Business, Technology

4.82.9K Ratings

🗓️ 2 June 2025

⏱️ 179 minutes

🧾️ Download transcript

Summary

We sit down with Steve Ballmer, the legendary former Microsoft CEO and owner of the LA Clippers, for an epic conversation covering his 34 years at Microsoft. Steve listened to our Microsoft episodes and had some thoughts to share — and boy, did he deliver. Steve takes us point-by-point through the original IBM DOS deal that started everything, how he built Microsoft's enterprise business from scratch, and offers his candid reflections on missing mobile and search. We also cover the story behind “developers, developers, developers”, the complexities of his relationship with Bill Gates (including a year where they didn't speak), and why he ultimately decided to step down as CEO. Plus, we learn why Steve has held onto his Microsoft stock through it all — giving him arguably the best investment track record in the world over the last 10 years with his net worth growing from $20B to $130B since leaving. And of course, we couldn't resist also talking about his other passion: the Clippers and Intuit Dome. Hit play and get ready to experience the patented Steve Ballmer energy and fun on full display!

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Many thanks to our fantastic Summer ‘25 Season partners:

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‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.

Transcript

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0:00.0

All right, so David, Steve gave us the signed Clippers jersey with the name acquired on it.

0:07.6

There's only one jersey. What are we going to do about this?

0:12.3

Should we rock paper scissors for it? Well, you know what? No, no. You keep it. There's no Seattle

0:18.8

basketball team. Keep it there up there. All right. All right. It'll no Seattle basketball team. Oh.

0:21.7

Keep it there.

0:22.8

All right.

0:23.1

All right.

0:25.4

It'll go in Acquired Museum North.

0:25.9

Great.

0:26.6

Perfect.

0:27.1

All right.

0:27.7

Let's do it.

0:28.7

Let's do it.

0:30.0

Who got the truth?

0:32.4

Is it you?

0:33.0

Is it you?

0:33.6

Is it you? Is it you?

0:35.1

Is it you? Is it you, is it you?

0:39.2

Sit me down, say it straight, another story on the way who got the truth.

0:45.6

Welcome to episode one of the summer 2025 season of Acquired, the podcast about great companies and the stories and playbooks behind them.

0:54.7

I'm Ben Gilbert.

0:55.6

I'm David Rosenthal.

...

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