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What Can We Learn from The Guy Who Sold Apple In 1976?

FYI: There from the beginning, and owned 10% of the original Apple. He sold it for $800 after 12 days of working with the 2 Steves.
Not counting new dilution — outside VC investors, the IPO, and more share issuance — that $800 would be worth about $63 billion today. Even with all of the actual dilution, its in the billions.
Regards,
Ted
https://www.washingtonpost.com/business/get-there/what-if-you-sold-10-percent-of-apple-in-1976/2016/04/15/9f64f4f4-00e3-11e6-9d36-33d198ea26c5_story.html

Comments

  • I think what you can learn, is to never tell anyone what you did many years ago.
  • We learn how much technology (and the world) has changed since 1976! Apple was not incorporated until January 3, 1977; so possibly in 1976 $800 was a reasonable price given the circumstances.

    If I remember correctly, in 1976 there was the Apple Model I. This was basically a circuit board; a user had to provide a power supply, keyboard, and monitor (possibly a TV set). A more complete computer, the Apple II, was later introduced that integrated a keyboard and connected to a compatible monitor that sat on top of the Apple II. The main application for this Apple II was the spreadsheet VisiCalc. Because of its wide use, it was probably one reason Apple survived into the Mac era. I was also a user of the UCSD Pascal programming language on the Apple II.

    A digression on personal computing in the late 70’s: My first personal computer was based on an S-100 bus system. This system utilized 50 pin circuit boards with contacts on both sides of the pin. The system I purchased was a chassis with power supply and eight S-100 bus slots. Added to this chassis were a CPU card, multiple memory cards, a SCSI (Small Computer Serial Interface) card, and a disk controller card. I purchased a Persci 8 inch floppy disk and keyboard/monitor separately. The Persci floppy disk had a capacity of 64k bytes (we can buy giga-byte capacities now). When I had more money I bought a TI-810 dot matrix printer. Compare this to the computers we can buy now; even a smartphone has more capability. I was not quite enough of a geek to want to purchase an Apple I back in the 70’s.
  • @hawleyl- And here I thought that I was an early adapter with a Mac+. Wow. Not even close!
  • edited April 2016
    Fascinating. My first computer was a VIC-20 which I picked up at a Detroit area appliance store for something over $100 in the early 80s. A few years later the same company introduced the Commadore 64, a much more powerful computer, but I didn't have the money for one.

    With the Vic 20 I could do basic word processing and play some cool video games. Used a small TV as a monitor and saved files I created to a cassette tape deck. (Talk about slow!). Eventually acquired a dot-matrix printer for it - not the greatest looking print.

    VIC-20 was only 8 bits. But they sold an upgrade cartridge I eventually bought that you simply plugged into the back. That bumped it up to either 16 or 32 bits. Don't remember.
    -

    Speaking of Apple ... the original company nearly folded after Jobs left. Valuation must have been quite low for several years as Microsoft and the IBM clone computers wiped Apple's ...
    However, Jobs returned and gave Apple a second life.
  • "Speaking of Apple ... the original company nearly folded after Jobs left."

    Yes, it did have a near-death experience, and many times I wondered if all the the reams of work product that I had accumulated were going to be totally useless when Apple folded. But it didn't, and I still have access to all of those files to this day, even though none of that stuff would even be recognized, never mind supported, by the present Apple iterations.

    I still have that original Mac+, and also it's successor, the SE-30, and they both still run. Well, maybe not run, but at least a respectable walk. All of our financial records are still kept on the descendant of that original spreadsheet, and the predecessor San Francisco 911 Dispatch Center installation was completely designed on that equipment, using Claris CAD. I'm still using that CAD program to this very day... does everything that I need.
  • First computer and first Mac was an SE 20 bought with an Apple dot matrix printer for $3500! College in CA where I was teaching in 1987 let us buy a Mac with payroll deduction, no interest. Have never owned hardware made by any other company. Two sons- in-law are the only heretics in our large Apple family.
  • edited April 2016
    Interesting stuff. I can remember my father buying or owning shares of Apple in the way back days (pre 1986) for something under $10/share. When he died my mother sold them because she thought computers were stupid. If only .....

    Anyway, somewhat like Ben, I bought my first Mac, a Mac Plus through the university back during my graduate school beginnings. My advisor wouldn't accept any of my nonsense unless it was on a computer disk. Why that made it valid I have no idea. When I moved to Berkeley for further studies I upgraded to a IIsi along with a 10mB hard drive which alone set me back $1K but boy did I feel like I was living large. Both of those are long gone but if you know anyone who wants an early version of a Mac laptop I still have a 230C ( C is for color) sitting around in the igloo somewhere.
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