With billg missing the dawn of the Internet, I didn't mean the IE integration fiasco and the resulting lawsuit - that's actually the part they got more or less right (in their own perverted 3E approach, not according to my moral compass), but too late to become dominant. They first wasted time trying to create their own MSN walled garden a la Compuserve .
To Ballmer's credit he did start Azure, although it doesn't feel it was a serious enough effort, until he was replaced. But between Vista, Windows 8, Windows Mobile, Nokia, Skype, Zune, Kin, etc etc... it's no wonder it's been called Microsoft's lost decade.