The Pros & Cons of Betting the Company on a Single Product / by Evan Troxel

This is a fascinating read.

There are so many things I want to do... I just have to convince myself that the worst thing that could happen is failure. And failure isn't that big of a deal. But if that thing actually takes off, it could change the world. 

Suppose you were the CEO of Apple in 2005 when a couple of intergalactic visitors with time-warping technology offered you this bet:
Design and manufacture a small mobile device that seamlessly combines the functionalities of a cellular phone, a web surfer, an audio/video player and a small PC, and your company will double its market cap and establish a third mass-market computing platform after Windows and Macintosh.
Would you take it?
Before you say, “Are you nuts, why wouldn’t I?” ponder just a few of the issues involved:

Read through to the end. Steve had cajones.