NeXT: Steve Jobs’ Dot.com IPO That Never Happened
computerhistory.org3 pointsby solipsist0 comments
1980: Underwriters Morgan Stanley and Hambrecht & Quist take Apple
Computer public in the largest IPO since Ford Motor Company went
public in 1956. Originally filed to sell at US$14 a share, the stock
opens at $22 and all 4.6 million shares sell out in minutes. The stock
rises almost 32 percent on its first day of trading to close at US$29,
giving the company a market valuation of US$1.778 billion. For fiscal
year 1980, Apple showed a profit of US$11.7 million, or 24 cents a share
on revenue of US$118 million (compared to US$8.3 billion in fiscal
2004), giving the IPO a P/E ratio of 92. Of Apple's 1,000 employees,
more than 40 become instant millionaires thanks to their stock options.
[1]
Facebook's P/E ratio today (5/29/12): 92.31 Being a better speaker doesn't necessarily mean your ideas are going to get worse.
In your essay, you say: Being a really good speaker is not merely orthogonal to having good ideas, but in
many ways pushes you in the opposite direction.
Paraphrasing the above passage, "being a really good speaker ... pushes you in the opposite direction [of having good ideas]". Currently, the predominant business model for commercial search engines is advertising.
The goals of the advertising business model do not always correspond to providing quality
search to users. For example, in our prototype search engine one of the top results for
cellular phone is "The Effect of Cellular Phone Use Upon Driver Attention", a study which
explains in great detail the distractions and risk associated with conversing on a cell
phone while driving. This search result came up first because of its high importance as
judged by the PageRank algorithm, an approximation of citation importance on the web [Page,
98]. It is clear that a search engine which was taking money for showing cellular phone ads
would have difficulty justifying the page that our system returned to its paying
advertisers. For this type of reason and historical experience with other media [Ba2dikian
831, we expect that advertising funded search engines will be inherently biased towards the
advertisers and away from the needs of the consumers. Cause: Unable to touch type Solution: Learn to touch type.
http://www.apple.com/about/ergonomics/baksol.html