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"He's the type of person who'll hit you in the ass and get you going. It doesn't make you a lot of friends, but it's a great ability to have." -- Adam, on Bono |
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"He's the type of person who'll hit you in the ass and get you going. It doesn't make you a lot of friends, but it's a great ability to have." -- Adam, on Bono |
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Transcript of Ron Insana Interview
CNBC,
October 27, 2004
CNBC's Ron Insana talks with U2 band members Bono and the Edge, along with Apple chairman Steve Jobs, about their agreement to market customized iPod MP3 players.
INSANA: Apple's new iPod belting out U2 songs. U2's Bono and its guitarist the Edge helped introduce Apple's new special edition black iPod today, which is preprogrammed with the group's upcoming album. U2's new single "Vertigo" has already hit the airwaves in Apple's new advertising campaign. Apple CEO Steve Jobs and U2's Bono and the Edge join us live from San Jose first on CNBC. Gentlemen, we thank you all for being with us, appreciate your taking the time. Mr. Jobs, I'll start with you -- what's this new product all about? I understand there's even a version that's gonna allow you to download, or hold some 25,000 pictures on the iPod as well. JOBS: Yeah, we introduced two new products today. The first is iPod photo which lets you hold in addition to your whole music library, your whole photo library right on an iPod. And, so you can have 25,000 photos right in your pocket, alongside your music, and it's pretty cool. But maybe the most exciting thing is the new U2 iPod. We decided to do an iPod with U2 that was really special. And it's the most gorgeous thing you've ever seen, it's black with a red wheel, and it's got the band members' signatures laser engraved on the back. It's really nice. INSANA: Now Bono, what motivated you and your partners in the band to get involved with a project like this? You've recently gotten involved with a venture capital firm Roger McNamee, someone we know very well. What's driving you towards the corporate world, and the world of products and music delivery systems? BONO: Well you know Ron, it's hard to get these iPods. INSANA: (Laugh) Yeah... BONO: So...so...the reason I got involved in technology stuff at Elevation Partners and Roger, and the reason why we're such fans of what Apple are doing is simply that music is changing shape by technology. And it always has, music's had a relationship with technology going right back to the fuzz box...Jimmy Hendrix would step on them, make that sound...and drum machines...and samplers which gave you hip-hop. Technology and music have always been cousins, but now they're kind of next door neighbors. In fact, today they moved into the same house. And we've been...you know, people have offered us fortunes to do commercial and we haven't turned them down for any religious reasons, it's just that we couldn't find products that were cool enough. We wanted to be part of this -- we see it as a partnership. No money's changed hands and we're gonna do these products together. We've got a complete U2 digital box set which is coming out, and we've got this extraordinary, beautiful object. This is the sort of sexiest object in music since the electric guitar. INSANA: Although the Edge, you guys have always seemed like the type that would not go corporate. EDGE: Yeah. INSANA: In your younger days if I recall correctly you made comments about that -- what's different now that allows you I think comfortably to get into an alliance like this one? EDGE: Well our position on sponsorship hasn't changed, it's always been that we do not sell our reputation or our fans' regard for our work to anybody. But this is a different thing, this is a technology partnership. Because we're in business with our record labels, we're in business with our merchandising companies, and we're now in business with Apple. Because it's a very clean, straightforward relationship. We're selling U2 branded iPods...the U2 iPod. And we're selling our music on iTunes. We just get a share of the revenues earned by these two releases. That's it -- plain and simple. We're also in an iTunes ad, because iTunes as a music distribution system is promoting our music. It's really simple. INSANA: Now Mr. Jobs, this is becoming an increasingly competitive space in high-tech consumer gadgetry. How do you hold back the advances that are undertaken by some of your rivals, including Dell Computer and others, who want to play in this space? JOBS: Well, you know, we win by making the best products. And that's what Apple's always done, and I think that people understand that the iPod is by far and away the best MP3 player in the world, and the iTunes music store has a 70% market share as well, it's the best way to buy music online. So, I think we make the best products. I think customers are really smart and they figure it out. INSANA: Mr. Jobs, I'm not trying to ask a smart-alecky journalist question, but just out of serious concern... BONO: Oh come one! (Laugh) INSANA: No, no...how are you feeling? How are you doing? JOBS: Thank you. I'm feeling great, actually. And today was a really special day for Apple, I ain't ever gonna to forget it for the rest of my life. INSANA: All right, well gentlemen, I want to thank you for taking the time. I know you've got a busy tour ahead of you. Steve Jobs, Bono, the Edge -- thanks for spending time with us today. Appreciate it. EDGE: Thank you, Ron. BONO: Thanks, Ron! INSANA: See you soon, I hope!
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