> It’s very difficult to make money in developer tools.

Just to be clear: we are talking the 90s here. Everybody was charging for developer tools (). MSDN was not free, far from it. From today's viewpoint where every compiler imaginable is free and the tools are better than ever (except there is nothing like Delphi and VCL), the 90s were a heaven for tool makers.

I'm talking about the Windows ecosystem.

Correct, but Borland didn’t die in the 1990s. That was its heyday. As I said, I used Turbo C++ during that period and I spent good money on it. But the tools commoditized and Microsoft eventually made MSDN basically free in the 2000s (there might have been some nominal charge, but it was low). And that was when Borland eventually got acquired, in 2009.