Word: groves
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Dates: during 1990-1999
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...Intel's competitors. If Grove is tough on people inside Intel, he is brutal with competition. Intel's current victims are Advanced Micro Devices and National Semiconductor, but no single firm poses much of a threat. Intel, says AMD CEO Jerry Sanders, makes it nearly impossible to get access to the big customers--Compaq, Dell, Gateway--that make for economies of scale. "That's where Intel makes it tough," says Sanders, another Fairchild alum. "In my view Intel goes right to the edge--and sometimes over it--to exclude people from providing chips to those guys...
...Grove has so effectively squashed the competition that his biggest worry isn't the rumblings of AMD but the strategic risk of a slowing PC market. The hottest-selling PCs this year have been dirt-cheap, sub-$1,000 models. Growth there could wreck Intel's business model. Says Drew Peck, an analyst at Cowen & Co.: "You can't sell a $500 processor in a $1,000 PC." And though cheap PCs are a tiny part of the overall market--businesses generally buy pricier PCs--Intel may be heading into a sea change. Intel's buoyant stock...
...Grove, of course, sees it as an opportunity. He is in the midst of rejiggering Intel's operating model so the firm can make money on sub-$1,000 PCs. That means taking more risks and finding new applications for Intel chips. Intel has also invested hundreds of millions to "seed" demand for PCs. The firm is betting on interactive multimedia (imagine watching the Super Bowl and clicking on a player to see his stats), cable modems that speed Internet delivery and audio software that makes your PC sound like the local THX multiplex. Grove has reviewed dozens of battle...
...Clausewitz craved the decisive battle, Grove hungers for the decisive risk, the bet that will guarantee Intel's future. "Are we missing something?" Grove mused one day this spring over a lunch of tofu and ketchup, settling his silverware into a moment of quiet. "Sometimes," he says in a rolling baritone, "the risk of omission is greater than the risk of commission...
...fall. Though the firm has escaped with a clean bill of health in the past, its dominant market share may look like a fat bull's-eye to trustbusters. Intel's close relationship with Microsoft--tech insiders refer to a WinTel duopoly--does seem to make competition more difficult. Grove, for one, isn't slowing any plans because of the government. "We're very careful," he says, "and clean...