Microsoft CEO Laughed at iPhone and Said It Had "No Chance." Apple Sold 2.5 Billion of Them.

When Steve Jobs unveiled the iPhone in January 2007, Microsoft CEO Steve Ballmer literally laughed on camera. In an interview, he mocked the $500 price tag, called it "the most expensive phone in the world," and dismissed it because it didn't have a keyboard. "No chance," he repeated, practically giggling. Meanwhile, Apple went on to sell over 2.5 billion iPhones, generating more than $2 trillion in cumulative revenue. The iPhone became the most profitable product in human history and turned Apple into the world's most valuable company. Microsoft's Windows Phone? Dead. Nokia, Palm, BlackBerry — all the companies that agreed with Ballmer? Gone or irrelevant. The man who laughed now owns the Clippers, bought with money from Microsoft stock. He should send Tim Cook a thank-you note every morning.