The Steve Ballmer Interview

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! Sponsors: Many thanks to our fantastic Summer ‘25 Season partners: J.P. Morgan Payments https://bit.ly/acquiredJPMPballmeryt Statsig https://bit.ly/acquiredstatsig25 Vercel https://bit.ly/acquiredvercel25 Anthropic https://bit.ly/acquiredclaude25 Links: Join us July 15 at Radio City! http://acquired.fm/nyc More Acquired: Get email updates with hints on next episode and follow-ups from recent episodes https://www.acquired.fm/email Join the Slack http://acquired.fm/slack Subscribe to ACQ2 https://pod.link/acquiredlp Check out the latest swag in the ACQ Merch Store! https://www.acquired.fm/store 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.

Ben GilberthostDavid RosenthalhostSteve Ballmerguest

Jun 2, 20252h 59mWatch on YouTube ↗

EPISODE INFO

Released: June 2, 2025
Duration: 2h 59m
Channel: Acquired
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

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! Sponsors: Many thanks to our fantastic Summer ‘25 Season partners: J.P. Morgan Payments https://bit.ly/acquiredJPMPballmeryt Statsig https://bit.ly/acquiredstatsig25 Vercel https://bit.ly/acquiredvercel25 Anthropic https://bit.ly/acquiredclaude25 Links: Join us July 15 at Radio City! http://acquired.fm/nyc More Acquired: Get email updates with hints on next episode and follow-ups from recent episodes https://www.acquired.fm/email Join the Slack http://acquired.fm/slack Subscribe to ACQ2 https://pod.link/acquiredlp Check out the latest swag in the ACQ Merch Store! https://www.acquired.fm/store 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.

SPEAKERS

Ben Gilbert
host
David Rosenthal
host
Steve Ballmer
guest

EPISODE SUMMARY

In this episode of Acquired, featuring Ben Gilbert and David Rosenthal, The Steve Ballmer Interview explores steve Ballmer on Microsoft’s luck, enterprise muscle, and missed waves Ballmer recounts Microsoft’s early dependence on IBM, how the non-exclusive DOS deal and the PC ecosystem’s formation created massive platform leverage, and why “luck” matters in building great companies.

RELATED EPISODES