[underdeserver]

"They've allowed the web [...] to take over for desktop apps."

Nope. Once the net became fast and mobile devices became prevalent, it was inevitable.

True, they were late to the game, but they still had enormous piles of cash, existing relationships with virtually all corporations, and a strong brand.

Nadella finally stopped leaving all the money on the table by pushing to embrace open source, web-based apps (Office 365), and Azure, and now Microsoft is back to being the third-largest company by market cap.