• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

What Mitt Romney said last night about Apple’s Steve Jobs

By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
August 31, 2012, 11:43 AM ET

Romney in Tampa. Image: realclearpolitics.com

FORTUNE — The Republican candidate for President mentioned Apple (AAPL) and Steve Jobs in his acceptance speech at the party’s convention Thursday night. Here’s what he had to say:

When I was 37, I helped start a small company. My partners and I had been working for a company that was in the business of helping other businesses.

So some of us had this idea that if we really believed our advice was helping companies, we should invest in companies. We should bet on ourselves and on our advice.

So we started a new business called Bain Capital…

That business we started with 10 people has now grown into a great American success story. Some of the companies we helped start are names you know.  An office supply company called Staples – where I’m pleased to see the Obama campaign has been shopping; The Sports Authority, which became a favorite of my sons. We started an early childhood learning center called Bright Horizons that First Lady Michelle Obama rightly praised. At a time when nobody thought we’d ever see a new steel mill built in America, we took a chance and built one in a corn field in Indiana. Today Steel Dynamics is one of the largest steel producers in the United States.

These are American success stories. And yet the centerpiece of the President’s entire re-election campaign is attacking success. Is it any wonder that someone who attacks success has led the worst economic recovery since the Great Depression? In America, we celebrate success, we don’t apologize for it.

We weren’t always successful at Bain.  But no one ever is in the real world of business.

Jobs in 1997. Photo: Reuters

That’s what this President doesn’t seem to understand. Business and growing jobs is about taking risk, sometimes failing, sometimes succeeding, but always striving. It is about dreams. Usually, it doesn’t work out exactly as you might have imagined. Steve Jobs was fired at Apple. He came back and changed the world.

It’s the genius of the American free enterprise system – to harness the extraordinary creativity and talent and industry of the American people with a system that is dedicated to creating tomorrow’s prosperity rather than trying to redistribute today’s.

The full text of Romney’s speech is available here.

About the Author
By Philip Elmer-DeWitt
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

rick steves holds american flag
PoliticsTaxes
Travel guru Rick Steves is happy to pay more taxes
By Catherina GioinoApril 3, 2026
3 hours ago
Artemis II’s moonbound astronauts capture Earth’s brilliant blue beauty as they travel more than 110,000 miles from home
InnovationNASA
Artemis II’s moonbound astronauts capture Earth’s brilliant blue beauty as they travel more than 110,000 miles from home
By Marcia Dunn and The Associated PressApril 3, 2026
4 hours ago
Checking a bag on United Airlines now costs $10 more as Iran war sends jet fuel costs up nearly 100% in major hubs
Travel & LeisureAir Travel
Checking a bag on United Airlines now costs $10 more as Iran war sends jet fuel costs up nearly 100% in major hubs
By Rio Yamat and The Associated PressApril 3, 2026
4 hours ago
At least one crew member still missing after Iran shoots down 2 U.S. aircraft while Trump says ‘it’s war’
PoliticsIran
At least one crew member still missing after Iran shoots down 2 U.S. aircraft while Trump says ‘it’s war’
By Sam Mednick, Konstantin Toropin, Seung Min Kim and The Associated PressApril 3, 2026
4 hours ago
man silhouette two computer screens
CybersecurityOnline
Internet Watch Foundation finds 260-fold increase in AI-generated CSAM in just one year, and ‘it’s the tip of the iceberg’
By Catherina GioinoApril 3, 2026
5 hours ago
6 Best Vitamins to Boost Energy (2026): Top Recommendations From Experts
HealthDietary Supplements
6 Best Vitamins to Boost Energy (2026): Top Recommendations From Experts
By Emily PharesApril 3, 2026
6 hours ago

Most Popular

Google CEO Sundar Pichai says we’re just a decade away from a new normal of extraterrestrial data centers
Innovation
Google CEO Sundar Pichai says we’re just a decade away from a new normal of extraterrestrial data centers
By Fortune EditorsApril 3, 2026
17 hours ago
Gen Z fled San Francisco for Texas and Florida. Now they’re turning ‘welcomer cities’ into the next big tech towns
Real Estate
Gen Z fled San Francisco for Texas and Florida. Now they’re turning ‘welcomer cities’ into the next big tech towns
By Fortune EditorsApril 2, 2026
2 days ago
The Walmart billionaires next door: Quiet backlash is brewing against the heirs who remade the retailer’s hometown
Magazine
The Walmart billionaires next door: Quiet backlash is brewing against the heirs who remade the retailer’s hometown
By Fortune EditorsApril 3, 2026
20 hours ago
Major 4-day workweek study suggests that when we work 5 days we spend one doing basically nothing
Success
Major 4-day workweek study suggests that when we work 5 days we spend one doing basically nothing
By Fortune EditorsApril 2, 2026
1 day ago
Current price of oil as of April 2, 2026
Personal Finance
Current price of oil as of April 2, 2026
By Fortune EditorsApril 2, 2026
2 days ago
Paul Krugman smacks down Trump speech with argument that $4 gas is ‘less than half’ of the Hormuz hit. Here’s what he’s talking about
Economy
Paul Krugman smacks down Trump speech with argument that $4 gas is ‘less than half’ of the Hormuz hit. Here’s what he’s talking about
By Fortune EditorsApril 2, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.