We needed to develop new capabilities to compete effectively in the mobile and search markets, but we didn't realize how different those businesses would be. The true competitor for Microsoft in mobile was Android, not Apple, as Android monetized through advertising and offered free services, while Microsoft relied on licensing revenue.

I believed in staying hardcore and learning from our mistakes, but Microsoft struggled to pivot from its established model to embrace new opportunities in mobile.

We missed the chance to innovate in mobile and search, which were critical areas where other trillion-dollar companies thrived outside of Microsoft.

In the mobile space, we were too focused on extending Windows instead of recognizing the need for a completely new approach.

Microsoft started as a consumer company, and our success in that area allowed us to build a strong enterprise business. However, I regret losing the consumer muscle we had.

Microsoft is not just a one-trick company; the hardest challenge is adjusting to the rapid changes in technology.

In the mobile era, Apple was ahead while Facebook struggled to keep up, often acquiring companies like Instagram and WhatsApp to strengthen its position.

We got caught in the mindset of being just a platform company, which limited our ability to innovate and adapt to new market demands.

Big companies often lack a clear MTP, which hinders their ability to innovate and adapt quickly.