9 Dec
2006
9 Dec
'06
3:41 p.m.
On 9 Dec 2006 at 12:12, Martin Scott Goldberg wrote:
"In 1976, Steve Wozniak and Steve Jobs formed the
Apple Computer Company
to sell Wozniak's computer, which they named the "Apple 1". Although it
required the users to provide their own cabinet, power supply, keyboard
and video monitor, it didn't require a seperate terminal as other
computers of the time did. A simple BASIC interpreter could also be
loaded with an optional casette interface. Although it required a fairly
technical user to complete the system and make it usable, about 200 Apple
1's were assembled in Jobs' garage and sold in the first year."
Someone needs to mention that Jobs and Wozniak also got a very sweet
deal when they needed venture capital. Within a few years, the
picture would change dramatically, with VC's requiring a majority of
seats on the corporate board, large shares of the profit pie and veto
power on any strategic decision--including seeking more venture
capital.
By about 1985, VCs had gotten very greedy and probably were
responsible for the death of several startups. I was hired as a
consultant to VCs for several of them to see what might be salvaged
from a tilt-up filled with office furniture and
incomplete production
inventory. Inevitably it was after the engineering staff had
been
laid off, so record of any potentially valuable intellectual property
ended up in the dumpster. The rest was usually auctioned off.
Woz and Jobs were in the right place at the right time.
Cheers,
Chuck