I love when he does these types of origin stories or unknown stories videos bringing us back to the past and the nostalgia of the nineties, heighties, etc...
the fact that he paid back everyone who believed in him when his business failed just says it all about this man. if you're reading this Wayne... to me, I'd pick you out of the 3 founders to have coffee with and chat with. I'm more impressed by this man than the other 2
I think all three of them are exceptional human beings. People like Jobs, Wozniak and Wayne don't come to this fame and fortune very often. The saddest part of it all is that Jobs passed away.
World would be better off for loads of generations to come for all, resulting in prosperous living earth if we support right people like Wayne, as a role-model for sure!
Perhaps the saddest part of all was hearing how he lost his life savings in a robbery after he'd retired. Strange that neither Jobs or Wozniak appear not to have helped him back up after that, particularly as he remains on good terms with them. Wayne seems happy and content with his little mobile home. At least he hasn't got the mither of parking a bloody big useless ship!
Keeping it would n gold is so much riskier than keeping it in a bank. They don’t teach enough about finance in school. He should’ve been taught about FDIC.
As someone who ran a small business that I had to close and financially recover from, I understand his hesitation when things in a new company with a new business model start moving fast and the pressure and risk increased. I can’t say that I would have rode it out, especially as the older partner who was once bitten and had less time to recover financially if things went wrong.
There was little risk for him. He didn't put much into the partnership and left when things started gathering momentum. He's just trying to save face, realizing it was a bad decision.
@@bobweiram6321 Apple incorporated as a corporation in Jan 1977. He left in April 1976. The business at the time was a partnership, so creditors can come after his house and retirement fund.
I was in a start up where a Chinese friend wanted to start a Chinese fast food restaurant. He almost had an investor (big money from China), but then he demonstrated that he didn't have any idea of how to run a business. He was also suppose to make major decisions with me. (I was working a half salary as my half of the investment. He owned an Asian pear orchard). We had 3 restaurants and were going to open a fourth, but the third we opened (without my consent or knowledge until after the fact) was a horrible location and we lost it, one of our other restaurants (2 were profitable), and then we lost our investor and any chance of success. I had restaurant experience, but my partner didn't. It was too bad. I had asked one of my other Chinese friends who had owned a restaurant for decades to help develop the menu which was pretty good (and why the first 2 restaurants were profitable).
@@voidvector A regular partnership, or LLP, requires an equal ownership and liability by all parties. Since he only owned 10%, it had to be an LLC, which limited his risk to what he put into the business.
@@freetheworld2671 wouldn't say addicted to losing but having lost before and probably seeing signs on how he lost before in the recently formed company he got scared and thought back to his own failure and didn't want to go trough that again.
I really like this guy's thinking and personality. He might not receive the money but I think the two Steve are talking about him as their mentors during early Apple days. He is the kind of guy that nurtured the talented and disappeared to do things he loves
Considering what happened with every single one who started Apple with Steve Jobs, frankly he probably would've lost everything later or ended up selling it to Steve for some more cash. It's highly unlikely he'd still have 10% of apple nowadays.
Even with barely few % shares he would have been a milionaire. Still like he mentioned, he didnt wanted to sit in the back of the building sorting documents which is undertandable.
@@JackieWelles he wouldn't have Been. They have computers for that. Also he a founder he could hire someone else to do it. These are excuses. To justify the worst decision in his life. Smh
In my time in Silicon Valley (1977-2006, Cupertino, San Jose, Santa Clara, Sunnyvale), I worked for 3 startups. Two of the three failed, and for the third, I made a whole $USD70,000. But I had lots of fun working with really smart people! Still lucky me! Based on this, I absolutely agree with Wayne's approach and position. I will buy his current books and anything new; I gotta support a fellow startup person even if I'm not in the same solar system.
It's sad in hindsight, but makes total sense what he said. People forget that Apple was 1 of 100 other startups trying to do the same thing. It's no different then the story of Peter Teal who invested $500k in the beginning of Facebook then left, never thinking it would get as big as it is. I believe he could of still tapped into his connections with the 2 Steve's to find a place being hired as an employee for Apple on a high paying executive level if he needed money. I'm sure they would have extended that offer due to their history.
Both founders are loaded, they could help this poor guy just put sympathy. He is living in mobile home, went through many ups and downs. Really admire this guy, he paid back all his People after his company went down. Must be a honest man and a good friend. I wonder why those two never offered him a hand $
Really appreciate your videos man. I started watching during COVID when I got laid off and for some reason they bring a sense of comfort to me. Keep it up!
My dad got burned on businesses in the 80s, and became very conservative the rest of his real estate career, because the pain he endured from the failed businesses, he never wanted to experience again. Understandable with what this guy went through early on.
11:35 One thing I am starting to wonder is, Did Wayne have anybody else that he bounces ideas off of? Someone like a business advisor or even just a mentor. It seems to me that he lived in his own world, worked alone and was always inside his own head, analyzing his own moves and making decisions by HIMSELF. While I admire his integrity and good natured personality, I can't help but wonder how different his life would be if he had someone else other than himself, to consult with, much like the two Steve's had with each other. Anyways, perhaps he did have someone, but I can't help but imagine that after everything he went through, something must have frightened to the point where his only response to risk is to run, not fight. Great documentary as usual DG.
Watching people lose their money on him while he being passionates about his work probably put him on that lifestyle. Then again he live longer than steve jobs himself. So its a little bit of everything, but you can be sure with his track record, he is quite kind.
There's time where you run and times where you fight, for him who's not in his 20s like Steves, if the company goes bust then all his life saving would have gone and he's not an age where he can start over
Everyone has to know their limitations. And frankly he was successful on his own terms. It's easy for us to judge him because we have benefit of hindsight.
Each success has a reality gap. It is very common that those missing 10-20% to success are actually filled in by unsung heroes like Wayne. Unfortunately, the world is very unforgiving to nice people who would not cut-throat or strongarm/backstab people. Great story!
People get a bit carried away with the idea of owning 10% at founding. He would have been massively diluted just a year later when the partnership was reformed as a corporation with other investors. Then diluting ownership to venture capitalists, the IPO, and 45 years of stock options being issued. Even Microsoft bought a significant chunk of Apple in 1997. He’d probably be well below 1% even if he never sold a share. Of course I’d still take that.
Even a 0.1% stake would be life changing with Apple's ridiculous valuation. If he managed to keep it through all the turmoil at Apple before they reached that ridiculous valuation.
There are janitors, secretaries, assembly line workers and baristas who are now millionaires simply because they were given a few shares by startups far less successful than Apple. Your slice may shrink, but the pie can grow exponentially.
Also worth noting, Wozniak isn’t a multibillionaire, and one reason is that he generously offered up a lot of his shares to employees for the IPO. Meanwhile Steve Jobs was certainly NOT so generous, but when he got fired in 1985 he sold all shares except one, supposedly. He became a billionaire thanks to Pixar, not Apple.
Excellent presentation style Dagogo brother and your productions are always TOP.CLASS. . It is not always that we find this story being narrated without hyper-excited melodrama in the narration. . Loved it! Hope to be able to directly support you, in my better times, in the future.
I probably feel more sad for him than he does for himself, what an amazing human. I hope and try to look at the world as positively as he does. It's probably why he still looks so healthy!
It's entirely possible that if he had not sold, Apple would not have turned out the way it did. Having 10% of the company in the hands of someone that didn't share the same viewpoint would of course have impacted the direction of the company. His integrity and sense of morality may have led to less ruthless business decisions, and this could have left room for a competitor. This may have been better for the world.. but you can't say that if he had just kept his shares, everything else would have worked out the same
The fact that this man struggled to settle with his early investors is a story of honor among thieves; the fact that the other two who continued the Apple story and never offered to help Wayne at all is the story of dishonor among thieves. Wayne is my pick any day for a decent man. After fifty years in business, believe me, there are far too many of the latter than the former, Wayne. Best of health to you in your years remaining on this planet of the apes.
To be fair, Apple wasn’t a safe bet. Apple almost failed multiple times, it was bailed out by Microsoft so the business itself technically failed. So it’s a lesson not to let life’s lessons affect you, but he can’t be faulted for his decision
@@bluecollarmenproductions Apple was struggling, but they didn't fail. It happened once over their entire history. Microsoft also didn't bail them out. It was a merely a truce over legal disputes between the two companies. It was only $100 million dollars which is insignificant considering Apple was raking in billions in revenue at the time.
I considered buying Apple shares in 1996 but decided it was too risky as the company was nearly bankrupt. The next year Steve Jobs was back and we all know what happened next.
Interesting video! Certainly mixed emotions considering how things played out. It's not easy choosing a path in matters like this. My business ventures with other people thus far have been flops. I probably would have been smarter to exit sooner than I had each time because I was always the one doing a lot of the work. I definitely understand Ronald's perspective here.
Selling off his shares an apple was not his biggest mistake in life. But keeping his life savings in his house definitely was a terrible decision. Don’t be like this guy. Don’t be drawn in by Gold and silver sellers that are just trying to get your money.
@@jorceshaman No it's a pretty bad investment. The growth in value of precious metals is terrible compared to index funds. You have to make sure you are buying from a reputable source so you don't get ripped off, then when you want to sell it good luck getting anywhere near the spot price. Businesses will want to undercut you and individuals will pass entirely because if they are paying spot price they might as well go to a reputable dealer. Plus you have to physically store all this shit which is a hassle and leaves you potentially vulnerable. You have been fooled by incredible marketing from gold sellers and their affiliates.
@@hypnotico7051 Except that cash/businesses are extremely vulnerable and I question whether we may be on the verge of a worldwide economic collapse. Gold has been valuable no matter what over the past several thousand years. It's not marketing, it's history.
@@jorceshaman Good job not addressing any of my points. The US dollar is one of the strongest currencies in the world. It's the World's reserve currency. The downfall of the dollar is another one of those marketing points that you fell for.
There's always stories like this in all business ventures. Someone is bound to get cold feet 🦶. Risk is never easy 😢. And those that can mitigate it 😮come out ahead. 😊 Good story Dagogo.
He also penniless. And clearly regrets his life choices. He will die barely being remembered. Smh he could have done what he did while still being part of apple
The man himself is quite content with his decisions but it's the other people thinking that he missed out on an opportunity big time and trying to make him feel someway that isn't OK which he totally was. We all have to embrace the 'maybe or maybe not' kind of life else if the world had it it's way it'll make you sad and depressed about everything,, even your existence.
This is a very important part of the story that most people miss out on. They try to make it seem like two young kids started a computer company but they had experience around them guiding them. I think it's very important that this part be highlighted for future generations.
It's amazing that neither Steve never helped this guy out with a million or two. Cripes they have so much money, there must have been a lot more bitterness that never went public.
Doubt Dwayne would accept them giving him money out of his principles. It’s also an insulting thing to do back then. Handing money to an old friend like he is some poor beggar... Although Dwayne was never rich in his lifetime, he also wasn’t exactly poor either. No need to lower your self worth by begging for money to your friends. Only case I could see the two Steves send money to Dwayne is when he has serious health issues and can’t pay his medical bills.
If anyone out there knows Wayne, show him the comment section of this video. He may not have gotten rich, but having this many people admire your character is much more impressive.
Amazing story CF! I had never heard about Wayne before now. All of us can second guess his decision. However, as he noted, it was the correct decision for him at that time.
During the first NeXT developers’ conference in 1992, I came across Steve Jobs who was idling at the NeXT booth. Too young and impressionable, I couldn’t get the nerves to shake his hand and introduce myself as a young French software engineering student and NeXT registered developer. How would it have changed my life? No regrets, I love the life I have.😊
I've read a lot and watched tons of videos about the early days of Apple, so I was about to skip this video thinking: "He's gonna talk about Mike Markkula for sure, no need to watch this...". I watched it anyway because all of your videos are good, so I thought I'd give it a try, you didn't disappoint, I've never read about Wayne. It doesn't matter if I woke up feeling like a smart ass and I think I know everything, even about topics I really like and do tons of research, there's always something new to learn from your videos. Keep up the awesome work and thank you for taking the time to do it! 🙌🏻
Can't fault him for selling his stake for $800, hindsight bias is real and Apple could have easily gone bankrupt. Besides all of us would've sold our shares had it jumped to even $100,000, let alone
This is a PERFECT example that *Being an Entrepreneur is NOT for everyone* Being timid & emotional is of course a part of human nature, but not in business. And for those that see that as an attack on Wyane - it's not/Would you want your heart surgeon to be timid or emotional while giving you a triple bypass.......Exactly!
It's not really a sad story. This man has his head screwed on right, he's got real integrity, and he doesn't seem to live in regret. I just wish he had gotten more for the contract! Very well told story, +1 subscriber.
"Better your own house made of planks, than a lavish fair in the house of another." I read this quote once, I think it was from the Bible, but have not been able to find it. I absolutely love it, something I revert to when I think of working and being bossed around by someone else.
Investing is too "risky" so better save your money. while in reality it is in fact a necessary act to fight against inflation. it was an enlightening moment for me when i learned how money really works. Now I only wish I had started in my twenties and had more time to take full advantage of the bulls and bears. Now I own 3 rental properties, started my own business and my net worth has increased by $500,000
The markets are a trap for the avaricious. Don’t believe me, then let me know how it feels to loose it all, just before you jump out the 20th story window! Did you ever hear of 1929, this is going to be worse. The banks will fail first, followed by the markets, then the housing markets.
I can understand his apprehension. He'd failed already in business and the new projects were not his, so he sold out. At least he achieved things that most of us will never attempt, out of fear, so he still achieved lot even tho he's not a millionaire. I'd heard of the story long ago but this is a nice video, as always. Keep up the good work! 👍
Anytime I think my life is unfair, I will think of this guy and get a reality check. Good to see he still seems to have a good attitude, but it sure seems like the universe is out to get him 😐
Man, that was a fabulous story! Despite hearing bits and pieces before, no one has articulated it this well 👍 btw where on earth do you get these high quality real pictures and videos ??
So he was almost 20 years older than Jobs and Wozniak, and yet he outlived them both. Perhaps it has something to do with him getting out.. perhaps not. But kinda makes you wonder the pressure Apple had on the other two
Wozniak is still kicking at 72 years old. I think Jobs was the youngest of all of them and he died first because he refused to treat his illness the correct way and insisted he do it 'his way' and paid the price
@@ADreamingTraveler well.. here's the secret... I'm stupid. Idk why I thought Woz is dead. I should have checked before I posted. As for Steve Jobs.. yes. He went his own way with the treatment
Even if he never made a dime from the whole affair, he has one thing only one other living man on Earth can claim: he was there at the beginning. And as such, history will remember him forever.
Thank for the story. It is really sad that Apple did not, and does not support Wayne financially. This obviously will be s tax write off for the company, but as the story has been told here: it would be better to turn to ice for warmness.
I know what it's like to been in his situation. I'm in a similar one. Had to leave a business, which later became very successful and makes millions/year for my business partners. But I don't regret. I'd rather be just an average Joe than a multimillionaire locked in a mental institution. That's what would probably had happened if hadn't quit the business.
Yeah I think a lot of people when thinking about these situations forget you're not just simply walking away from tons of money, there's also then insane workload to be done.
Personally I think he saw what money does to people by living in Vegas. It's like the dark side of the force and universal. Rewires your brain. Sure you see it in your old business partners. I had a similar experience working in Tahoe for almost a decade in my youth with intentions to get rich. Than I saw how the rich lived. Horrible marriages, messed up kids, surrounded by fake friends and just all around miserable and most were alcoholics. As a worker I got to see all the background stuff. Life changing to say the least. Semi retired by simply spending wiser and working less and enjoyed my youth for next couple decades. No regrets. Money can't buy the really important stuff.
@@69jbr69 holy crust, yeah that's scary when u say it out loud! 😬 It's sad when people become soo obsessed w/one aspect of their lives - money/career 💸💰, they ultimately n regretfully sacrifice their health, hobbies, and relationships in that single-minded pursuit. 🤑 The 5 Pursuits to Balance & Maximize in Life: Money, Career, Health, Hobbies, Relationships - a successful life for all individuals require a healthy balance in all five of these categories/pursuits in life 🪙❤💙
Tell me about it! By the 1990s, Apple was already a national mythology and a symbol of entrepreneurship--an inspiring story of two college dropouts who built an industrial empire from a humble garage. How could he not see the value of owning one of the most important artifacts in its history? It should be noted he was a collector of stamps and other memorabilia, which makes his decision even worse.
@@tonic316 yeahhh, man didn't have to like be insanely wealthy but he could've reinvested his bread better into living a comfortable life with a family and passing that down at least. This shit was depressing lol
as you have mentioned, 65% of startups goes under in a decade so no one can't predict the future whether an idea will catch on or not, just like how VHS wasn't the best one but it prevails over the other one although bein inferior.... that's the story of mankind even in history...sometimes an individual will win easily over the others to rule and other times, some people have to really try hard to get to where they want to be...things are uncertain and that's both the beauty and the horror aspect of life
I have been in Wayne’s shoes. I have helped create small businesses. It is a marathon, not a sprint. I have made money and lost money from these ventures. None of them as big as Apple, obviously. But the secret to success is to keep balance, and have a good life.
There's a meme about "If you think you've had a bad day..." about this guy and the vast fortune he could have so easily had. "He co-founded Apple Computer Company (now Apple Inc.) as a partnership with Steve Wozniak and Steve Jobs on April 1, 1976, providing administrative oversight and documentation for the new venture. Twelve days later, he sold his 10% share of the new company back to Jobs and Wozniak for US$800 (equivalent to $3,810 in 2021), and one year later accepted a final US$1,500 (equivalent to $7,143 in 2021) to forfeit any potential future claims against the newly incorporated Apple. In the early 1990s, Wayne sold the original Apple partnership contract paper, signed in 1976 by Jobs, Wozniak, and himself, for US$500. In 2011, the contract was sold at auction for $1.6 million. Wayne has stated that he regrets that sale. Wayne retired to a mobile home park in Pahrump, Nevada, where he sells stamps and rare coins, and plays penny slots at a casino."
I think I would of made the same choice as Wayne. I know what it feels like to realize you are out of your depth. Hindsight is a cruel mistress. I experienced the same thing when I was forwarded an email in the early 2000's for something called Bitcoin. All my friends told me I needed to start mining or invest. At the time I didn't have 2 pennies to rub together. My wife and I shared 1 1988 S10 to get back and forth to work. Investing would of left us living in that car. Sometimes I look back with disappointment. Though currently we live very comfortably. Own our home and couldn't be happier, though sometimes I wonder.
I don't think it's either sad nor stupid. Mr. Wayne helped the company to become what it is today and that is a proud achievement on it's own. You can't measure it by the amount of profit he made (or could have made). There are some things that go beyond money.
One thing about life is that no matter how many times you fail, opportunities will always come and go. Sadly for Wayne, he missed every opportunity that was thrown at him lol.
Not everyone wants that much money or prestige. He just gone after what his heart preferred. And he just chose what he thought is better for him at that time, no regrets there.
Wow. So very well done. He projects a very honest and strong character and seems to have managed to stay true to himself, even when life knowcked him down. Goes to show, respect is earned. Especially in a world where so many incapable and fake people are roaminf around. On another note, Apple should give him some shares back. He is one of the 3 OGs and doesnt strike me as the type of person that wouldn`t stay cautious.
I made bad choices that resulted in my life being s hit. There's nothing I can do about those choices so I don't dwell on them. I've learned what I could from them and have accepted my life as is. That's about all you can do unless you want to drive yourself crazy with regrets.
I have to write my thoughts on this since I know someone who's just like Wayne. First mistake : When he failed at his first business he did not look at it objectively and analyzed the situation, instead he took things personally and closed the business. He had some ego issues, otherwise he could have asked for help and people will be happy to help him revive the business. But no, he want to be the only person behind his own success ( which I think an ego thing ). Same ego thing made him refuse the $50k was offered by Jobs when they first knew each other. Also ego made him buy his own shares from his investors when he did not have to and no one would blame him if he didn't do it, but he always makes things personal. Second mistakes: Although he knew Apple was going to be something, he saw himself doing some boring job with 10% while two kids do the fun stuff and have other 90% would hurt him.
This man has a good soul and the patience of Job (the guy from the Bible, not Jobs). To not only loose out on everything he's lost out on but also loose, have stolen and even throw away the original contract and still maintain his state of mind is a testament that he is the better part of a generation long gone.
I’m sure this guy had some issue like handling, drug or alcohol addiction etc. not because he sold his shares, because he sold his copy of contract. I’m sure if you ask him there is a long list of things he sold to pay for that on going issue
From Wayne's answer of not regretting his decision, It proves money can make your life easier but will not be the solution to becoming fulfilled in life.
I've heard of this story. But never saw the story articulated so well. You're a credit to the community Dagogo. Big fan of your work. Love you.
I love when he does these types of origin stories or unknown stories videos bringing us back to the past and the nostalgia of the nineties, heighties, etc...
THIS
Dagogo? Cool name
Just don't read the wikipedia page while watching the doc or it will ruin it for you (almost word for word)
ruclips.net/video/K9aShSGvr4g/видео.html
the fact that he paid back everyone who believed in him when his business failed just says it all about this man. if you're reading this Wayne... to me, I'd pick you out of the 3 founders to have coffee with and chat with. I'm more impressed by this man than the other 2
Steve Wozniak is an amazing human. I would rather want to talk to him
I think all three of them are exceptional human beings. People like Jobs, Wozniak and Wayne don't come to this fame and fortune very often. The saddest part of it all is that Jobs passed away.
World would be better off for loads of generations to come for all, resulting in prosperous living earth if we support right people like Wayne, as a role-model for sure!
Wow. Amazing. A coffee and a chat with you what a winner he must be. LMFAO.
True
Perhaps the saddest part of all was hearing how he lost his life savings in a robbery after he'd retired. Strange that neither Jobs or Wozniak appear not to have helped him back up after that, particularly as he remains on good terms with them. Wayne seems happy and content with his little mobile home. At least he hasn't got the mither of parking a bloody big useless ship!
This is what happens when you play too safe. You tend to have misfortune in your little safe haven
Keeping it would n gold is so much riskier than keeping it in a bank. They don’t teach enough about finance in school. He should’ve been taught about FDIC.
Jobs could have given him a stipend, if nothing else. I would. I would give him at least $5,000 a month.
As someone who ran a small business that I had to close and financially recover from, I understand his hesitation when things in a new company with a new business model start moving fast and the pressure and risk increased. I can’t say that I would have rode it out, especially as the older partner who was once bitten and had less time to recover financially if things went wrong.
There was little risk for him. He didn't put much into the partnership and left when things started gathering momentum. He's just trying to save face, realizing it was a bad decision.
@@bobweiram6321 Apple incorporated as a corporation in Jan 1977. He left in April 1976. The business at the time was a partnership, so creditors can come after his house and retirement fund.
I was in a start up where a Chinese friend wanted to start a Chinese fast food restaurant. He almost had an investor (big money from China), but then he demonstrated that he didn't have any idea of how to run a business. He was also suppose to make major decisions with me. (I was working a half salary as my half of the investment. He owned an Asian pear orchard). We had 3 restaurants and were going to open a fourth, but the third we opened (without my consent or knowledge until after the fact) was a horrible location and we lost it, one of our other restaurants (2 were profitable), and then we lost our investor and any chance of success. I had restaurant experience, but my partner didn't. It was too bad. I had asked one of my other Chinese friends who had owned a restaurant for decades to help develop the menu which was pretty good (and why the first 2 restaurants were profitable).
that sucks
@@voidvector A regular partnership, or LLP, requires an equal ownership and liability by all parties. Since he only owned 10%, it had to be an LLC, which limited his risk to what he put into the business.
such character... his integrity and dignity that he holds and carries is PRICELESS. His soul and spirit cannot be stolen, destroyed. He is a legend.
Is it purely integrity or addicted to losing?
@@freetheworld2671 wouldn't say addicted to losing but having lost before and probably seeing signs on how he lost before in the recently formed company he got scared and thought back to his own failure and didn't want to go trough that again.
Wayne is the kind of man you WANT to have a significant roll running a business. That kind of integrity can not be taught or bought.
Its the only thing you can take with you to the afterlife.
So you have to ask yourself what kind of people remain in all big companies today. Small hint: there‘s not a lot of Waynes.
@@KNByam what after life? lmao
T-Rump is also a huge failure. 👎👎
you'll lose money...
I really appreciate how well researched and thoughtful your videos are. Thank you!😊
I really like this guy's thinking and personality. He might not receive the money but I think the two Steve are talking about him as their mentors during early Apple days. He is the kind of guy that nurtured the talented and disappeared to do things he loves
Considering what happened with every single one who started Apple with Steve Jobs, frankly he probably would've lost everything later or ended up selling it to Steve for some more cash. It's highly unlikely he'd still have 10% of apple nowadays.
Even with barely few % shares he would have been a milionaire. Still like he mentioned, he didnt wanted to sit in the back of the building sorting documents which is undertandable.
@@JackieWelles he wouldn't have Been. They have computers for that. Also he a founder he could hire someone else to do it. These are excuses. To justify the worst decision in his life. Smh
@@CardGamesTV1 agreed
@@CardGamesTV1 Spoken like someone who has never been in that situation before
@@JackieWelles Just like Facebook's co-founder who gave Mark Zuckerberg 18K when Facebook was still in its early stage, has 0.03% share.
I fell in love with his soul and integrity. Such a great man ❤
I didn't, but he's not fighting himself at nights so that's good.
In my time in Silicon Valley (1977-2006, Cupertino, San Jose, Santa Clara, Sunnyvale), I worked for 3 startups. Two of the three failed, and for the third, I made a whole $USD70,000. But I had lots of fun working with really smart people! Still lucky me! Based on this, I absolutely agree with Wayne's approach and position. I will buy his current books and anything new; I gotta support a fellow startup person even if I'm not in the same solar system.
I could have been a millionaire if I didn't sell my 5 million Dogecoins in 2018.
wondering which startups you worked with and which one eared you $70K
It's sad in hindsight, but makes total sense what he said. People forget that Apple was 1 of 100 other startups trying to do the same thing. It's no different then the story of Peter Teal who invested $500k in the beginning of Facebook then left, never thinking it would get as big as it is. I believe he could of still tapped into his connections with the 2 Steve's to find a place being hired as an employee for Apple on a high paying executive level if he needed money. I'm sure they would have extended that offer due to their history.
They did! Steve Jobs kept trying to bring him back, but Wayne made a decision and stuck with it.
@@AjanKan I didn't realize that. That seems pretty stubborn.
Definitely ruled by fear.
Both founders are loaded, they could help this poor guy just put sympathy. He is living in mobile home, went through many ups and downs.
Really admire this guy, he paid back all his People after his company went down. Must be a honest man and a good friend. I wonder why those two never offered him a hand $
My thoughts exactly or even offer a very small share of Apple at least
Steve Wozniak actually gave out a lot of his stocks to early workers of apple that Steve Jobs left out.
We do not know if they offered or not or even if he accepted something or not. My impression is that he would have told them both, no.
why they didnt gave him a share from their personal stocks, at least , both steve have so much they can consume
@@leusmaximusx Steve Jobs is dead
Selling stock that would be worth 220 billion dollars today for 800 dollars has got to go under the biggest oof moments in history
Most expensive L's in history. Lol even worse that the original McDonald's owners.
@@KNByam That wasn't an L, the McDonald's story is straight up fuckery, they should have hired a hitman honestly
The Mc Donald’s story is a lot of Kroc!!!😮
Really appreciate your videos man. I started watching during COVID when I got laid off and for some reason they bring a sense of comfort to me. Keep it up!
They're what Care and Reason feel like, in an era where neither ever seem to be permitted to exist together.
My dad got burned on businesses in the 80s, and became very conservative the rest of his real estate career, because the pain he endured from the failed businesses, he never wanted to experience again. Understandable with what this guy went through early on.
11:35
One thing I am starting to wonder is, Did Wayne have anybody else that he bounces ideas off of? Someone like a business advisor or even just a mentor. It seems to me that he lived in his own world, worked alone and was always inside his own head, analyzing his own moves and making decisions by HIMSELF.
While I admire his integrity and good natured personality, I can't help but wonder how different his life would be if he had someone else other than himself, to consult with, much like the two Steve's had with each other.
Anyways, perhaps he did have someone, but I can't help but imagine that after everything he went through, something must have frightened to the point where his only response to risk is to run, not fight.
Great documentary as usual DG.
Watching people lose their money on him while he being passionates about his work probably put him on that lifestyle. Then again he live longer than steve jobs himself. So its a little bit of everything, but you can be sure with his track record, he is quite kind.
There's time where you run and times where you fight, for him who's not in his 20s like Steves, if the company goes bust then all his life saving would have gone and he's not an age where he can start over
I think he’s that kind of person who is not for business. He’s literally too kind and probably a great engineer with not so great people skills.
Everyone has to know their limitations. And frankly he was successful on his own terms. It's easy for us to judge him because we have benefit of hindsight.
👍🏼great analysis. Foreal. You could be a preacher
Each success has a reality gap. It is very common that those missing 10-20% to success are actually filled in by unsung heroes like Wayne. Unfortunately, the world is very unforgiving to nice people who would not cut-throat or strongarm/backstab people. Great story!
Damn. What makes this a little less sad is that Ronald was OK with his decision. Unfortunate his gold and silver got robbed.
You are one of the best narrators/storytellers on RUclips. The way you narrate all these real life events is just captivating. A big fan of yours!
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People get a bit carried away with the idea of owning 10% at founding. He would have been massively diluted just a year later when the partnership was reformed as a corporation with other investors. Then diluting ownership to venture capitalists, the IPO, and 45 years of stock options being issued. Even Microsoft bought a significant chunk of Apple in 1997. He’d probably be well below 1% even if he never sold a share. Of course I’d still take that.
Diluting is a robbery. 10% should be 10%
Even owning one percent would have made him a multibillionaire about $20B plus.
Even a 0.1% stake would be life changing with Apple's ridiculous valuation. If he managed to keep it through all the turmoil at Apple before they reached that ridiculous valuation.
There are janitors, secretaries, assembly line workers and baristas who are now millionaires simply because they were given a few shares by startups far less successful than Apple. Your slice may shrink, but the pie can grow exponentially.
Also worth noting, Wozniak isn’t a multibillionaire, and one reason is that he generously offered up a lot of his shares to employees for the IPO. Meanwhile Steve Jobs was certainly NOT so generous, but when he got fired in 1985 he sold all shares except one, supposedly. He became a billionaire thanks to Pixar, not Apple.
Excellent presentation style Dagogo brother and your productions are always TOP.CLASS.
.
It is not always that we find this story being narrated without hyper-excited melodrama in the narration.
.
Loved it!
Hope to be able to directly support you, in my better times, in the future.
I probably feel more sad for him than he does for himself, what an amazing human. I hope and try to look at the world as positively as he does. It's probably why he still looks so healthy!
A shame the two Steve's didn't help him out at all, despite their "high praise" of him.
It's entirely possible that if he had not sold, Apple would not have turned out the way it did.
Having 10% of the company in the hands of someone that didn't share the same viewpoint would of course have impacted the direction of the company.
His integrity and sense of morality may have led to less ruthless business decisions, and this could have left room for a competitor. This may have been better for the world.. but you can't say that if he had just kept his shares, everything else would have worked out the same
Jobs would have pushed him out. Maybe Jobs did push him out, but nobody is saying it?
He's clearly jinxed!
Seems like he's more of a silent partner.
The fact that this man struggled to settle with his early investors is a story of honor among thieves; the fact that the other two who continued the Apple story and never offered to help Wayne at all is the story of dishonor among thieves. Wayne is my pick any day for a decent man. After fifty years in business, believe me, there are far too many of the latter than the former, Wayne. Best of health to you in your years remaining on this planet of the apes.
To be fair, Apple wasn’t a safe bet. Apple almost failed multiple times, it was bailed out by Microsoft so the business itself technically failed.
So it’s a lesson not to let life’s lessons affect you, but he can’t be faulted for his decision
yeah even steve jobs was fired.. it was roller coaster ride for soo many years..
Failed multiple times? What are you talking about? It is perhaps the biggest success story in computer history.
@@bobweiram6321 no it did fail in the 90s it was doing so/so the iPod changed everything
@@bluecollarmenproductions Apple was struggling, but they didn't fail. It happened once over their entire history. Microsoft also didn't bail them out. It was a merely a truce over legal disputes between the two companies. It was only $100 million dollars which is insignificant considering Apple was raking in billions in revenue at the time.
I considered buying Apple shares in 1996 but decided it was too risky as the company was nearly bankrupt. The next year Steve Jobs was back and we all know what happened next.
Interesting video! Certainly mixed emotions considering how things played out. It's not easy choosing a path in matters like this. My business ventures with other people thus far have been flops. I probably would have been smarter to exit sooner than I had each time because I was always the one doing a lot of the work. I definitely understand Ronald's perspective here.
Selling off his shares an apple was not his biggest mistake in life. But keeping his life savings in his house definitely was a terrible decision. Don’t be like this guy. Don’t be drawn in by Gold and silver sellers that are just trying to get your money.
There's nothing wrong with owning gold and silver as investments. His mistake was not having them secured well enough.
@@jorceshaman No it's a pretty bad investment. The growth in value of precious metals is terrible compared to index funds. You have to make sure you are buying from a reputable source so you don't get ripped off, then when you want to sell it good luck getting anywhere near the spot price. Businesses will want to undercut you and individuals will pass entirely because if they are paying spot price they might as well go to a reputable dealer. Plus you have to physically store all this shit which is a hassle and leaves you potentially vulnerable. You have been fooled by incredible marketing from gold sellers and their affiliates.
@@hypnotico7051 Except that cash/businesses are extremely vulnerable and I question whether we may be on the verge of a worldwide economic collapse. Gold has been valuable no matter what over the past several thousand years. It's not marketing, it's history.
@@jorceshaman Good job not addressing any of my points. The US dollar is one of the strongest currencies in the world. It's the World's reserve currency. The downfall of the dollar is another one of those marketing points that you fell for.
@@hypnotico7051 It's not marketing. I don't give a shit about gold marketing. Stop assuming I'm watching ads.
There's always stories like this in all business ventures. Someone is bound to get cold feet 🦶.
Risk is never easy 😢. And those that can mitigate it 😮come out ahead. 😊
Good story Dagogo.
I think he just didnt want to be the only founder not named steve
Imagine
A humble guy who had nothing but bad luck all his life.
He chose the more fulfilling path that deserved great respect. The unfortunate events afterward are sad 😔.
The man is egoless. 🙏🏼🙏🏼
Thank you for sharing his story, Dagogo. ✨
He also penniless. And clearly regrets his life choices. He will die barely being remembered. Smh he could have done what he did while still being part of apple
You know him personally ?
Egoless? His ego except for the robbery and contract is actually the reason for the biggest of these mistakes.
Wayne appears to be a relatively happy, well adjusted person who followed his heart. We could do much worse.
And is comfortably living in a trailer home. Follow your heart, that's silly; follow the money.
@@freetheworld2671 Good luck Melvin.
Well the guy seems to be in decent health for his age, has a nice house, I'm sure has a happy family. At the end of the day, that's what's important.
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keep telling yourself that buddy
The man himself is quite content with his decisions but it's the other people thinking that he missed out on an opportunity big time and trying to make him feel someway that isn't OK which he totally was. We all have to embrace the 'maybe or maybe not' kind of life else if the world had it it's way it'll make you sad and depressed about everything,, even your existence.
This is a very important part of the story that most people miss out on. They try to make it seem like two young kids started a computer company but they had experience around them guiding them. I think it's very important that this part be highlighted for future generations.
The fact that he's part of Apple's history is pretty cool.
It's amazing that neither Steve never helped this guy out with a million or two. Cripes they have so much money, there must have been a lot more bitterness that never went public.
I know right, why don't they flick him a million or get him to write a book for Apple with great contract terms
Thinking the same. Some friendship right.
Doubt Dwayne would accept them giving him money out of his principles.
It’s also an insulting thing to do back then. Handing money to an old friend like he is some poor beggar...
Although Dwayne was never rich in his lifetime, he also wasn’t exactly poor either. No need to lower your self worth by begging for money to your friends.
Only case I could see the two Steves send money to Dwayne is when he has serious health issues and can’t pay his medical bills.
They were friends, but they were probably not that close. Wayne cut and run right when the momentum started to build up. He wasn't a believer.
@@haydo8373 Business is not charity my friend, why give him a million(s) for a few pages of contract and a logo ?
His mistake wasn't different from the mistake of any other person back then, who didn't bought the share in the first place.
Company went public and millions of people didn’t buy a single stock, I feel that. Good point
If anyone out there knows Wayne, show him the comment section of this video. He may not have gotten rich, but having this many people admire your character is much more impressive.
Amazing story CF! I had never heard about Wayne before now. All of us can second guess his decision. However, as he noted, it was the correct decision for him at that time.
During the first NeXT developers’ conference in 1992, I came across Steve Jobs who was idling at the NeXT booth. Too young and impressionable, I couldn’t get the nerves to shake his hand and introduce myself as a young French software engineering student and NeXT registered developer. How would it have changed my life? No regrets, I love the life I have.😊
I've read a lot and watched tons of videos about the early days of Apple, so I was about to skip this video thinking: "He's gonna talk about Mike Markkula for sure, no need to watch this...". I watched it anyway because all of your videos are good, so I thought I'd give it a try, you didn't disappoint, I've never read about Wayne. It doesn't matter if I woke up feeling like a smart ass and I think I know everything, even about topics I really like and do tons of research, there's always something new to learn from your videos. Keep up the awesome work and thank you for taking the time to do it! 🙌🏻
From a big fan of yours. With thanks.
Wayne, a gentleman to the core.
No matter what we do or don't do, or what we decide or not, our destiny has to be fulfilled, we like it or not. We are just toys in the hands of fate.
Can't fault him for selling his stake for $800, hindsight bias is real and Apple could have easily gone bankrupt.
Besides all of us would've sold our shares had it jumped to even $100,000, let alone
This is a PERFECT example that *Being an Entrepreneur is NOT for everyone* Being timid & emotional is of course a part of human nature, but not in business. And for those that see that as an attack on Wyane - it's not/Would you want your heart surgeon to be timid or emotional while giving you a triple bypass.......Exactly!
Thank you very much Dagogo for this very enlightening video. I never knew there was a third funder.
It's not really a sad story. This man has his head screwed on right, he's got real integrity, and he doesn't seem to live in regret. I just wish he had gotten more for the contract! Very well told story, +1 subscriber.
"Better your own house made of planks, than a lavish fair in the house of another." I read this quote once, I think it was from the Bible, but have not been able to find it. I absolutely love it, something I revert to when I think of working and being bossed around by someone else.
Respect to the man for moving on with his life, despite being knocked down several times.
Investing is too "risky" so better save your money. while in reality it is in fact a necessary act to fight against inflation. it was an enlightening moment for me when i learned how money really works. Now I only wish I had started in my twenties and had more time to take full advantage of the bulls and bears. Now I own 3 rental properties, started my own business and my net worth has increased by $500,000
The markets are a trap for the avaricious. Don’t believe me, then let me know how it feels to loose it all, just before you jump out the 20th story window! Did you ever hear of 1929, this is going to be worse. The banks will fail first, followed by the markets, then the housing markets.
I can understand his apprehension. He'd failed already in business and the new projects were not his, so he sold out. At least he achieved things that most of us will never attempt, out of fear, so he still achieved lot even tho he's not a millionaire.
I'd heard of the story long ago but this is a nice video, as always. Keep up the good work! 👍
Anytime I think my life is unfair, I will think of this guy and get a reality check. Good to see he still seems to have a good attitude, but it sure seems like the universe is out to get him 😐
Haha!
The guy who started Victoria's Secret killed himself. =/
This guy kicked the universe in balls. He’s not lead around by a ring in his nose.
As always, this was a great watch 🔥
Man, that was a fabulous story! Despite hearing bits and pieces before, no one has articulated it this well 👍 btw where on earth do you get these high quality real pictures and videos ??
I feel for him. Randomly becoming a businessman wouldn't sound too good to most people
So he was almost 20 years older than Jobs and Wozniak, and yet he outlived them both. Perhaps it has something to do with him getting out.. perhaps not. But kinda makes you wonder the pressure Apple had on the other two
Wozniak is still kicking at 72 years old. I think Jobs was the youngest of all of them and he died first because he refused to treat his illness the correct way and insisted he do it 'his way' and paid the price
@@ADreamingTraveler well.. here's the secret... I'm stupid. Idk why I thought Woz is dead. I should have checked before I posted.
As for Steve Jobs.. yes. He went his own way with the treatment
Even if he never made a dime from the whole affair, he has one thing only one other living man on Earth can claim: he was there at the beginning. And as such, history will remember him forever.
Very true . Money isn't everything
@@foxxrider250r but it’s right up there next to Oxygen
@@roncur nope
No body gonna remember that man
@@roncur that didn't help Steve jobs 😂
Thank for the story.
It is really sad that Apple did not, and does not support Wayne financially. This obviously will be s tax write off for the company, but as the story has been told here: it would be better to turn to ice for warmness.
I know what it's like to been in his situation. I'm in a similar one. Had to leave a business, which later became very successful and makes millions/year for my business partners. But I don't regret. I'd rather be just an average Joe than a multimillionaire locked in a mental institution. That's what would probably had happened if hadn't quit the business.
Yeah I think a lot of people when thinking about these situations forget you're not just simply walking away from tons of money, there's also then insane workload to be done.
Personally I think he saw what money does to people by living in Vegas. It's like the dark side of the force and universal. Rewires your brain. Sure you see it in your old business partners. I had a similar experience working in Tahoe for almost a decade in my youth with intentions to get rich. Than I saw how the rich lived. Horrible marriages, messed up kids, surrounded by fake friends and just all around miserable and most were alcoholics. As a worker I got to see all the background stuff. Life changing to say the least. Semi retired by simply spending wiser and working less and enjoyed my youth for next couple decades. No regrets. Money can't buy the really important stuff.
@@69jbr69 holy crust, yeah that's scary when u say it out loud! 😬 It's sad when people become soo obsessed w/one aspect of their lives - money/career 💸💰, they ultimately n regretfully sacrifice their health, hobbies, and relationships in that single-minded pursuit. 🤑
The 5 Pursuits to Balance & Maximize in Life: Money, Career, Health, Hobbies, Relationships - a successful life for all individuals require a healthy balance in all five of these categories/pursuits in life 🪙❤💙
@@69jbr69 couldn't have said it better myself
Definitivamente uma história triste. Por onde o cara passa, onde toca, faz coisa errada. Puxa vida.
he sold the original contract in the 90s for $500 and in 2011 it sold at auction for $1.6 million. guy is the king of bad decisions.
Tell me about it! By the 1990s, Apple was already a national mythology and a symbol of entrepreneurship--an inspiring story of two college dropouts who built an industrial empire from a humble garage. How could he not see the value of owning one of the most important artifacts in its history? It should be noted he was a collector of stamps and other memorabilia, which makes his decision even worse.
Excellent video. Cautionary, inspiring, human.
Wayne earned the respect of both the other founders and I'd like to say he earned my respect too ☯️🙏
respect doesn't buy you anything though lmao
@@tonic316 Some people are so poor, all they have is money ~ Bob Marley
@@TheEcono thats some nice copium from a poor
@@TheEcono I don't care what anyone says. Being rich is a good thing ~ Mark Cuban
@@tonic316 yeahhh, man didn't have to like be insanely wealthy but he could've reinvested his bread better into living a comfortable life with a family and passing that down at least. This shit was depressing lol
The world sometimes needs ruthless people like Steve Jobs and always needs men of integrity like Ronald Wayne.
as you have mentioned, 65% of startups goes under in a decade so no one can't predict the future whether an idea will catch on or not, just like how VHS wasn't the best one but it prevails over the other one although bein inferior.... that's the story of mankind even in history...sometimes an individual will win easily over the others to rule and other times, some people have to really try hard to get to where they want to be...things are uncertain and that's both the beauty and the horror aspect of life
I have been in Wayne’s shoes. I have helped create small businesses. It is a marathon, not a sprint. I have made money and lost money from these ventures. None of them as big as Apple, obviously. But the secret to success is to keep balance, and have a good life.
given his age, his booktitles, his tech-background and the fact he kept all savings in gold i really would like to hear what he thinks about btc...
That's my dream, to be the man behind the scenes, unknown and a billionaire.
Dagogo thank you for creating and sharing your supreme quality presentations. Bravo!👏
That’s not a sad story. Just a guy living life and the ups and downs that go with it. He seemed happy to me.
Your chanel is one of the best out there ! Thank you for all your work ! 🙏 💎❣️
There's a meme about "If you think you've had a bad day..." about this guy and the vast fortune he could have so easily had.
"He co-founded Apple Computer Company (now Apple Inc.) as a partnership with Steve Wozniak and Steve Jobs on April 1, 1976, providing administrative oversight and documentation for the new venture. Twelve days later, he sold his 10% share of the new company back to Jobs and Wozniak for US$800 (equivalent to $3,810 in 2021), and one year later accepted a final US$1,500 (equivalent to $7,143 in 2021) to forfeit any potential future claims against the newly incorporated Apple.
In the early 1990s, Wayne sold the original Apple partnership contract paper, signed in 1976 by Jobs, Wozniak, and himself, for US$500. In 2011, the contract was sold at auction for $1.6 million. Wayne has stated that he regrets that sale.
Wayne retired to a mobile home park in Pahrump, Nevada, where he sells stamps and rare coins, and plays penny slots at a casino."
Great video, but minor correction, the border around Apple’s first logo read:
“A mind forever voyaging through strange seas of thought, alone.”
Awesome music very relaxed and calm and something suspense 🔥
Want more like this togo.
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A Brilliant man who lacked imagination in a field very near to his talent!
Another fantastic video Dagogo. Cheers
Amazing storytelling Dagogo!
Apparently not so sad. He seems like a very content person who has lived a full life
Ronald Wayne's story is a powerful reminder that success often involves taking risks and making bold decisions.
I think I would of made the same choice as Wayne. I know what it feels like to realize you are out of your depth. Hindsight is a cruel mistress. I experienced the same thing when I was forwarded an email in the early 2000's for something called Bitcoin. All my friends told me I needed to start mining or invest. At the time I didn't have 2 pennies to rub together. My wife and I shared 1 1988 S10 to get back and forth to work. Investing would of left us living in that car. Sometimes I look back with disappointment. Though currently we live very comfortably. Own our home and couldn't be happier, though sometimes I wonder.
well if that bitcoin was FTX I think it's safe to say you made the right decision
If you’re comfortable with a good marriage you’re ahead of 99 percent of people
I don't think it's either sad nor stupid. Mr. Wayne helped the company to become what it is today and that is a proud achievement on it's own. You can't measure it by the amount of profit he made (or could have made). There are some things that go beyond money.
History is INCREDIBLE!!
One thing about life is that no matter how many times you fail, opportunities will always come and go. Sadly for Wayne, he missed every opportunity that was thrown at him lol.
In the end, life is all about missed opportunities.
"gracious" - the perfect word explaining the gentleman ... Wish we have more people with such integrity running businesses ... More Waynes Less SBFs
Not everyone wants that much money or prestige. He just gone after what his heart preferred. And he just chose what he thought is better for him at that time, no regrets there.
Wow. So very well done. He projects a very honest and strong character and seems to have managed to stay true to himself, even when life knowcked him down. Goes to show, respect is earned. Especially in a world where so many incapable and fake people are roaminf around. On another note, Apple should give him some shares back. He is one of the 3 OGs and doesnt strike me as the type of person that wouldn`t stay cautious.
Wow, timing is EVERYTHING! I hope Wayne is well and continues to prosper.
I made bad choices that resulted in my life being s hit. There's nothing I can do about those choices so I don't dwell on them. I've learned what I could from them and have accepted my life as is. That's about all you can do unless you want to drive yourself crazy with regrets.
I read his autobiography. It is interesting and definitely worth a read.
We have to make decisions and never look back. We can't change the past. That's live.
CF - One of my favorite channels :)
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I have to write my thoughts on this since I know someone who's just like Wayne.
First mistake :
When he failed at his first business he did not look at it objectively and analyzed the situation, instead he took things personally and closed the business.
He had some ego issues, otherwise he could have asked for help and people will be happy to help him revive the business. But no, he want to be the only person behind his own success ( which I think an ego thing ).
Same ego thing made him refuse the $50k was offered by Jobs when they first knew each other.
Also ego made him buy his own shares from his investors when he did not have to and no one would blame him if he didn't do it, but he always makes things personal.
Second mistakes:
Although he knew Apple was going to be something, he saw himself doing some boring job with 10% while two kids do the fun stuff and have other 90% would hurt him.
This man has a good soul and the patience of Job (the guy from the Bible, not Jobs). To not only loose out on everything he's lost out on but also loose, have stolen and even throw away the original contract and still maintain his state of mind is a testament that he is the better part of a generation long gone.
What a wonderful human being.
I’m sure this guy had some issue like handling, drug or alcohol addiction etc. not because he sold his shares, because he sold his copy of contract. I’m sure if you ask him there is a long list of things he sold to pay for that on going issue
From Wayne's answer of not regretting his decision, It proves money can make your life easier but will not be the solution to becoming fulfilled in life.