Apple CEO Steve Jobs and team would "get bored" if they weren't learning about new markets and technologies.
"Five or six years ago, we didn't know anything about video editing, so we bought technology to learn how to do that," he told Business 2.0 magazine.
Apple used that research and expertise to deliver iMovie, Final Cut Pro and DVD-burning software for Mac users. And Apple's thirst to innovate didn't stop there, Jobs explained.
"A few years later, we didn't know anything about MP3 players, but our people looked at what was out there with a critical eye and combined that with what we already knew about design, user interface, materials, and digital electronics. That gave us the iPod," he explained.
Jobs was speaking to Business 2.0 as part of that magazine’s How to succeed in 2004 feature. This gathers observations and ideas from a host of industry innovators and is available online.
Apple's CEO compares innovation at his company with the way Pixar's John Lasseter makes films: "Before he made A Bug's Life, he actually had people film what it really looks like to be in the grass from an insect's perspective, and discovered that the blades of grass and leaves are actually translucent. You just gotta go learn this stuff. If you're smart, you'll figure it out," he said.