Jobs wiped out the original Pixar engineers' stock options by selling the company, "Old Pixar", to "New Pixar", which he had created specifically for this purpose. It was a mere formality to him as he was the controlling shareholder in Old Pixar, just signing some papers. "As part of the reorganization, Jobs exercised a clause in the employee stock option agreements that allowed him to buy back their options at the original strike price, which was a pittance." *
[Charles Ferguson, High Stakes, No Prisoners pp 98-99]
It wasnt Pixar, but this exact thing happened to me as well. Founder blew tons of cash and needed to raise more so he cleared out the debt with 'new co'. Apparently his money was worth more to him than my 4 years of service.
Ferguson writes, "During the public offering, the underwriters forced Jobs to distribute about 15 percent of the stock among key employees, because nobody would have invested otherwise...but many were shut out entirely, including some who had spent many years creating the technology."
Despite long-promised stock options that Levy had earlier persuaded a reluctant Jobs to finally grant to Pixar employees, Jobs had retained enough shares that he was now a billionaire.
I'm curious if abuses like this would sink the company if they went viral (eg. no animator/programmer would want to work for the company or would demand much higher cash compensation) or if it would be a non-issue like Equifax (who didn't seem to lose significant business, despite taking a massive post-data breach reputation hit).
I'm curious if more information transparency change the employment market.
Back in late 1980's I went to a university where the administration thought it would important for every freshman to get a macintosh. So, we bought on this idea and shelled out 2000 each for a machine that would propel us into the future. A machine that had no hard drive, ran software on diskettes and had no memory protection. I can not remember how many times I lost my paper because that damn thing would just reboot out of memory. It was a badly designed machine that would be ok for games but not for serious homework/work. A classmate of mine got so fed that that he threw it out of his dormitory window. Steve had the charisma to sell an idea but at that time there were other alternatives that would better for a lot of people. Sometimes I wonder, if the administration of uninversity got any kick-backs from Apple executives, if you understand what I mean
> I can not remember how many times I lost my paper because [the mac] would just reboot out of memory.
This is less of an Apple problem and more of a 1990's problem. I often had painful nights where I'd lose hours of work on Documents and PowerPoints because my Windows 98 either froze or crashed.
My girlfriend's PowerPoint crashed and froze just yesterday... To her, the computer is just as bad today. What's the point of nicer graphics when it's still slow and unreliable.
My parents got a Mac SE in 1989 and continued using it heavily through at least 2005. It still works perfectly (though at some point the hard drive needed replacement). It had a great keyboard, and very simple effective software.
It was a much better writing machine than most of the later machines I have encountered.
Steve Wozniak is who built the original Apple, the hardware and the software, Steve Jobs did manage to create the Apple image and sell himself as some kind of a tech guru in the process.
I hate this trope. Woz was a technical wizard, but Apple would have failed (and nearly did fail in 1998) without Jobs.
Apple's worst years were when Jobs was gone and the company's management was trying to beat IBM clones when Apple had few distinguishing features and the clones were competing on thin margins, while Apple largely tried to avoid the (except the few years when they allowed Apple clones). When Jobs returned, the OS changed, the CPU architecture changed, the shape and design of the computers changed, and new computing devices (iPod, iPhone, iPad) and created the iTunes + App Store.
Apple's 2013 "Misunderstood" ad https://www.youtube.com/watch?v=v76f6KPSJ2w is probably a bit of a hidden apologia for Jobs personally, among other things. Apple seems to have been going through a phase of making rather defensive ads around that time.
What a loss to humanity it would have been if Jobs had dedicated the last 25 years of his life to figuring out how to give his billions away, instead of doing what he does best."
Considering that he didn’t become a billionaire until Pixar IPOd in 1995 and he was hardly in a great position before then self funding two struggling companies - Next and Pixar until then, he wasn’t one of the world’s wealthiest people.
Lifelong lurker finally feels compelled to make a comment.
Active commenter makes a throwaway account for every potentially controversial comment to avoid it backfiring later. After all, the internet is forever.
Forgot main account password.
Just to mess with you.
Commenter is actually Steve Wozniak, much more disgruntled than he lets off publically, so makes comments like these anonymously
I had a late pal who was early apple who said much the same thing about Jobs. He actually left the place when Jobs returned, after being screamed at while trapped in an elevator with Jobs. I imagine there are still people at Apple who had such ... interactions ... with the man.
There were people who feared Basil von Zaharoff decades after his death. With good reason!
Can we stop celebrating this guy and move on? Times have changed, the wold has changed, but the aloof reality distortion continues. I will not rattle off my list of issuex but suffice to say he is not worthy of emulation in a mjority of his actions. I will boldly state: Nobody actually wants to work with the next Jobs, they just want to say they did.
>I will boldly state: Nobody actually wants to work with the next Jobs, they just want to say they did.
So, if the next Jobs gets them from near bankruptcy negative -200 million to a trillion dollar worth company and huge cultural cachet and consumer influence, they wouldn't want to work with him because he occasionally yells at people, or is very demanding, etc?
I'd say if someone is recognized as the "next Steve Jobs" there would be lines to get hired there... As there were lines to get hired at Apple during his tenure, so this "nobody actually wants to work with" seems a little wishful thinking...
[Charles Ferguson, High Stakes, No Prisoners pp 98-99]