Farhad Manjoo:

Apple’s recent wins weren’t merely lucky. They were the result of a determined, unmatched strategy to create bestselling, profitable products in the most remunerative new market in tech, the business of mobile computing.

He gets it. Gruber gets it. MG gets it. Consumers get it. Analysts don’t get it. I’m still stunned by this.

In the dotcom bubble of ‘01, a lot of it was due to piss-poor understanding by those with the spondoolis. A decade later and they still clearly don’t quite understand the tech. They’re a lot better, but they’re not there yet. At least the PE and VC community is.