ronwayneheadshotRon Wayne, Apple, Inc.'s sometimes forgotten third co-founder, has posted a short essay entitled "Why I Left Apple Computer After Only 12 Days, In My Own Words". The piece notes that though he sold his share of Apple for pennies on the dollar, he has no regrets. Instead, he was looking to change the world in his own way.

I didn’t separate myself from Apple because of any lack of enthusiasm for the concept of computer products. Aside from any immediate apprehension in regard to financial risks, I left because I didn’t feel that this new enterprise would be the working environment that I saw for myself, essentially for the rest of my days. I had every belief would be successful but I didn’t know when, what I’d have to give up or sacrifice to get there, or how long it would take to achieve that success.

[...]

To counter much that has been written in the press about me as of late, I didn't lose out on billions of dollars. That's a long stretch between 1976 and 2012. Apple went through a lot of hard times and many thought Apple would simply go out of business at various times in its maturity. I perhaps lost tens of millions of dollars. And quite honestly, between just you and me, it was character building.

If I had known it would make 300 people millionaires in only four years, I would have stayed those four years. And then I still would have walked away. Steve and Steve had their project. They wanted to change the world in their way. I wanted to change the world in my own.

Rather than follow Jobs and Wozniak in remaking computing, Wayne had made his own attempt at putting a "dent in the universe". He published a book late last year that he says is the result of 40 years of research. Insolence of Office is described as a look at the foundations of the American Republic, the Constitution, and the nature of money.

Wayne notes, with full self-awareness of the arrogance of the statement, "the writing and publication of Insolence is, in itself, enough to justify my existence on this planet."

Wayne published his autobiography entitled Adventures of an Apple Founder: Atari, Apple, Aerospace & Beyond in the fall of 2011. Both the autobiography and Insolence of Office are available on Amazon and the iBookstore.

via The Next Web

Top Rated Comments

scott911 Avatar
118 months ago
props to this guy.

Seems :apple: wasn't his thing - and he was smart enough to know it.

There were years and years and years at apple which were miserable. Had he stayed, or been allowed to stay, at what personal cost would those future dollars have come at?

I can think of a lot of people with small fortunes that sure seemed pretty unhappy. Michael Jackson / Whitney Houston comes to mind for some odd reason.

This isn't like loosing a lottery ticket and kicking yourself for the rest of one's life. This was deciding to spend one's entire life doing something else that'd bring satisfaction.

I'd say Wayne got a win.
Score: 9 Votes (Like | Disagree)
rdowns Avatar
118 months ago


Ron Wayne, Apple, Inc.'s sometimes forgotten third co-founder,

Apple Computer. Apple, Inc. didn't exist back then.
Score: 9 Votes (Like | Disagree)
FrizzleFryBen Avatar
118 months ago
poor guy is missing out on some major cash!

:confused: Did you read the article? He said he did not regret his decision and that it was character building.

He seems like a great and humble man to me.
Score: 8 Votes (Like | Disagree)
iRCL Avatar
118 months ago
So, his own dream that he keeps referring to? Obviously it was a career in television.

Score: 7 Votes (Like | Disagree)
Avatar74 Avatar
118 months ago
poor guy is missing out on some major cash!
In investing, any decision that errs on caution and doesn't expose your principal to risk of catastrophic loss is acceptable. Blind risk is not investing, it's speculation. Things could very easily have gone the other way. I had a few thousand shares of Apple years ago, which would be worth millions of dollars today. Sure, I joke about what a lack of foresight it was... but let me put some perspective on this:

In 1996 I actually wrote a paper, probably one of a few floating out there at the time, discussing the framework for large scale internet distribution of music which was still a few years away. If anyone should have seen the road ahead it was me. I had more information than most people on that subject.

Fast forward to 2000, the market crashes, and I'm forced to liquidate my position in Apple because I was not being a wise investor... I was taking risks. I had to cover other positions. One of the positions I chose to liquidate was Apple, because at the time it didn't seem like it had a future. And this was very likely... All they'd had under their belt (since their rebirth) by then was the iMac.

A few months later iPod came out. It was not an overnight game changer. It still had some way to go before it made a dent... because it took another three years before iTunes Music Store came out and the product ecosystem began to unfold.

Wayne wasn't a rich man to begin with so I can understand his dilemma. But you learn and you move on. I'm much more adept at seeing opportunity now, but my risk aversion is very sharp. I don't throw myself blindly into "the next big thing"... that's a surefire way to expose your principal to potential catastrophic loss.

As a shrewd investor, your job ought to be to seek adequate, not outrageous, returns, and let them compound over time... You'll invariably make bad decisions from time to time. Winning isn't about making the slam dunk again and again. Nobody does that (those who say they do are hiding their losses).

But all you need to really do is know how to insure yourself against catastrophic consequences for the bad decisions you are inevitably going to make from time to time. If you keep moving forward slowly, you'll still beat someone who runs so hard they keep getting the wind knocked out of them every few paces.

----------

That's what rather most people would say if they'd made that big of a bad decision.
Not necessarily. Some people never learn from their mistakes. Persistence is not always a virtue. But I wouldn't characterize Wayne's move as a mistake. Choosing to avoid unforeseeable risk for something more stable at a point in your life when you maybe have a family to think about is not a mistake. A mistake is when you risk half a million dollars blindly on a company you know next to nothing about (sorry boys, technical analysis, i.e. "chartistry", doesn't tell you anything relevant), then you wake up one morning and watch $70,000 vaporize two seconds after the opening bell. Been there, done that.

I'm investing now, not speculating, and generating far better compounded returns than some fool who borrows 4:1 to make 100 trades a year that return him $50,000 (What he miscalculates as a 1000% return when it's actually a 2% return after counting up the total cost basis, not even accounting for risk exposure).

Am I making money as fast as the next guy? Probably not... but I'm not losing money as fast as the next guy either. ;-)

Any number times zero is still zero.
Score: 6 Votes (Like | Disagree)
pacalis Avatar
118 months ago
Man, for someone who (rightly) keeps downplaying his part, he sure likes to be noticed.

He was technically part of Apple for a few days as a tiebreaker between Jobs and Woz. Before they did anything.

We know Apple was successful, but had the three of them stayed together anything could have happened. An unhappy founder, between Woz and Jobs staying on for the promise of riches? Sounds like the alternative could have easily been a recipe for disaster.
Score: 5 Votes (Like | Disagree)

Top Stories

bloodoxygenapplewatch

Apple Watch Series 7 to Gain Breakthrough New Health Feature

Friday March 5, 2021 5:34 am PST by
Apple is reportedly planning to bring a new, first-of-its-kind health technology to the Apple Watch Series 7, in what could be a breakthrough for managing conditions such as diabetes more easily. According to a recent report from ETNews, the Apple Watch Series 7 will feature blood glucose monitoring via a non-invasive optical sensor. Measuring blood glucose levels, also known as blood...
apple transfer google photos 1

Apple Launches Service for Transferring iCloud Photos and Videos to Google Photos

Wednesday March 3, 2021 12:04 pm PST by
Apple this week introduced a new service that's designed to make it quick and easy for iCloud users to transfer their stored photos and videos to Google Photos. As outlined in an Apple support document, you can go to Apple's privacy website and sign in to see the "Transfer a copy of your data" option. If you select this and go through all the steps, Apple will transfer your iCloud photos and ...
imac pro featured black

Apple Confirms iMac Pro Will Be Discontinued When Supplies Run Out, Recommends 27-Inch iMac

Saturday March 6, 2021 7:33 am PST by
Apple on late Friday evening added a "while supplies last" notice to its iMac Pro product page worldwide, and removed all upgrade options for the computer, leaving only the standard configuration available to order for now. We've since confirmed with Apple that when supplies run out, the iMac Pro will no longer be available whatsoever. Apple says the latest 27-inch iMac introduced in August...
Oled iPads and MackBook Pro

OLED 10.9-Inch iPad Rumored for Early 2022, 12.9-Inch iPad Pro and 16-Inch MacBook Pro Could Follow

Thursday March 4, 2021 8:37 pm PST by
Earlier today, DigiTimes shared a preview of an upcoming report claiming that Apple is working on both iPad and Mac notebook models with OLED displays that could launch starting in 2022. The full report from DigiTimes is now available, and it includes several new alleged details about Apple's plans. According to the report, the first of these devices to adopt an OLED display is likely to be...
apple products refurbished store banner

Class Action Lawsuit Over Apple Providing Refurbished Replacement Devices Proceeding to Trial in August

Friday March 5, 2021 9:53 am PST by
Initially filed in 2016, a class action lawsuit that accuses Apple of violating the Magnusson-Moss Warranty Act, Song-Beverly Consumer Warranty Act, and other U.S. laws by providing customers with refurbished replacement devices is set to proceed to trial August 16, according to a notice this week from law firm Hagens Berman Sobol Shapiro LLP. Apple's repair terms and conditions state that,...
iPhone 13 Notch Feature2

iPhone 13 Rumor Recap: Smaller Notch, Larger Batteries, 120Hz for Pro Models, Improved 5G, Wi-Fi 6E, and More

Friday March 5, 2021 8:20 am PST by
While we are likely at least six months away from Apple unveiling the so-called iPhone 13 lineup, rumors about the devices are starting to accumulate, so we've put together this recap of everything that is expected so far. The upcoming iPhone 13 lineup will consist of the same four models and the same screen sizes as the iPhone 12 lineup, according to reputable analyst Ming-Chi Kuo,...
maxresdefault

What's on Your iPhone Home Screen?

Thursday March 4, 2021 10:31 am PST by
Over on our YouTube channel, MacRumors videographer Dan has a new video up where he shares his Home Screen, wallpaper, and all of his current favorite widgets. Subscribe to the MacRumors YouTube channel for more videos. Check out Dan's video to see his setup, and then comment below and show us your own Home Screens. It's always fun to see other peoples' Home Screens, and with widgets and...
OLED iPad Pro and MacBook Pro

iPad and MacBook Models With OLED Displays Rumored to Launch in 2022

Thursday March 4, 2021 8:19 am PST by
Apple plans to release new iPad and MacBook models with OLED displays in 2022, according to industry sources cited by Taiwanese supply chain publication DigiTimes. The information was shared in the site's paywalled "Before Going to Press" section, so there are no further details yet, but the full report should be released by tomorrow. Apple has gradually increased its adoption of OLED...
Top Stories 48

Top Stories: iPhone 13 Leaks, OLED iPads and Macs, New AirTags Evidence

Saturday March 6, 2021 6:00 am PST by
iPhone rumors are heating up, with noted analyst Ming-Chi Kuo this week releasing a wide-ranging report outlining his expectations for the iPhone lineup over the next three years. This week also saw rumors about OLED displays potentially coming to iPad and Mac starting next year, increasing signs of AirTags functionality in iOS 14.5 betas, and more, so check out all of the details below! i...
imac pro while supplies last

iMac Pro No Longer Custom Configurable, Available 'While Supplies Last'

Friday March 5, 2021 10:14 pm PST by
Apple appears to be on the verge of discontinuing the iMac Pro, with the store page for the high-end all-in-one Mac including a "While supplies last" tagline and only the base model with no custom configurations available for purchase. The iMac Pro launched in December 2017, and while there have been a few tweaks to the available configurations over the years, it has received no substantial...