Well, Ted, in the English-speaking world this quote has also been hijacked.  It has been hijacked by a lot of business school kids (and business school kids grown old), life coaches and other aspiring types to mean what you reported. These are the Western handbags with an unauthorised label.

The important fact is that The Whole Earth Catalog was a counterculture publication.  It was not interested in cementing the dominance and the values of the Establishment.

The magazine featured essays and articles, but was primarily focused on product reviews. The editorial focus was on self-sufficiency, ecology, alternative education, "do it yourself" (DIY), and holism, and featured the slogan "access to tools". While WEC listed and reviewed a wide range of products (clothing, books, tools, machines, seeds, etc.), it did not sell any of the products directly.  

It was not about money, ambition and greed.  

Jobs was talking about idealism, heart and intuition.

"Stay hungry" also has the connotation of "Don't always judge something by whether it will make enough money to feed yourself and the family."

In the same speech, Jobs tells the story  of how he decided to join a calligraphy course after he had dropped out from college.  This  is what he says, "None of this had even a hope of any practical application in my life. But 10 years later, when we were designing the first Macintosh computer, it all came back to me."

He means it as an example of not judging something by whether it has any practical application to you, and of following your heart to do things which may appear to you and others to be completely useless.

He was at the time of the story always hungry, and he needed a job, food and money more than calligraphy!

So in Chinese, you can also interpret it as "随心而为，不怕贫穷饥饿。"

The key is to read the whole speech and interpret "Stay Hungry.  Stay foolish" in context.

To impute any thoughts about ambition, success and money to the quote is as intellectually sloppy and dishonest as it is to impute any Confucian thoughts about the pursuit of knowledge and humility to it.  

In Chinese, perhaps it can be interpreted thus:

勇于追梦，若饥若渴; 敢于相信直觉，不要随波逐流。

注释:  生命苦短，不要被困在别人的剧本里，不要随波逐流，要勇于编织梦想，要敢于追求理想，要勇于相信自己的直觉，要敢于聆听自己心灵深处的呼唤!

(别忘了这是一个癌症病患者对年轻大学生的讲演。)