Walter Isaacson Quote
Jobs and Wozniak had no personal assets, but Wayne (who worried about a global financial Armageddon) kept gold coins hidden in his mattress. Because they had structured Apple as a simple partnership rather than a corporation, the partners would be personally liable for the debts, and Wayne was afraid potential creditors would go after him. So he returned to the Santa Clara County office just eleven days later with a statement of withdrawal and an amendment to the partnership agreement. By virtue of a re-assessment of understandings by and between all parties, it began, Wayne shall hereinafter cease to function in the status of ‘Partner.’ It noted that in payment for his 10% of the company, he received $800, and shortly afterward $1,500 more. Had he stayed on and kept his 10% stake, at the end of 2012 it would have been worth approximately $54 billion. Instead he was then living alone in a small home in Pahrump, Nevada, where he played the penny slot machines and lived off his social security check. He later claimed he had no regrets. I made the best decision for me at the time. Both of them were real whirlwinds, and I knew my stomach and it wasn’t ready for such a ride.
Jobs and Wozniak had no personal assets, but Wayne (who worried about a global financial Armageddon) kept gold coins hidden in his mattress. Because they had structured Apple as a simple partnership rather than a corporation, the partners would be personally liable for the debts, and Wayne was afraid potential creditors would go after him. So he returned to the Santa Clara County office just eleven days later with a statement of withdrawal and an amendment to the partnership agreement. By virtue of a re-assessment of understandings by and between all parties, it began, Wayne shall hereinafter cease to function in the status of ‘Partner.’ It noted that in payment for his 10% of the company, he received $800, and shortly afterward $1,500 more. Had he stayed on and kept his 10% stake, at the end of 2012 it would have been worth approximately $54 billion. Instead he was then living alone in a small home in Pahrump, Nevada, where he played the penny slot machines and lived off his social security check. He later claimed he had no regrets. I made the best decision for me at the time. Both of them were real whirlwinds, and I knew my stomach and it wasn’t ready for such a ride.
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About Walter Isaacson
He has been the president and CEO of the Aspen Institute, a nonpartisan policy studies organization based in Washington, D.C., the chair and CEO of CNN, and the editor of Time.
Isaacson attended Harvard University and Pembroke College, Oxford as a Rhodes scholar. He is the co-author with Evan Thomas of The Wise Men: Six Friends and the World They Made (1986) and the author of Pro and Con (1983), Kissinger: A Biography (1992), Benjamin Franklin: An American Life (2003), Einstein: His Life and Universe (2007), American Sketches (2009), Steve Jobs (2011), The Innovators: How a Group of Hackers, Geniuses, and Geeks Created the Digital Revolution (2014), Leonardo da Vinci (2017), The Code Breaker: Jennifer Doudna, Gene Editing, and the Future of the Human Race (2021) and Elon Musk (2023).
Isaacson is an advisory partner at Perella Weinberg Partners, a New York City-based financial services firm. He was vice chair of the Louisiana Recovery Authority, which oversaw the rebuilding after Hurricane Katrina, chaired the government board that runs Voice of America, and was a member of the Defense Innovation Board.