[HN Gopher] Apple co-founder sells Carmel Valley ranch, will bec...
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Apple co-founder sells Carmel Valley ranch, will become nature
preserve
Author : toomuchtodo
Score : 27 points
Date : 2023-06-19 21:25 UTC (1 hours ago)
(HTM) web link (www.mercurynews.com)
(TXT) w3m dump (www.mercurynews.com)
| dheera wrote:
| Get rid of the paywall by running this right after opening the
| page var id = window.setTimeout(function() {},
| 0); while (id--) window.clearTimeout(id);
| ary wrote:
| > In 1977, Mike Markkula gave two unknown, shaggy-haired computer
| programmers, Steve Jobs and Steve Wozniak, $250,000 to help turn
| their young partnership into a new company.
|
| The opening statement doesn't bode well for the factual accuracy
| of what follows. Jobs _was not_ a programmer, and Markkula was an
| investor, not a co-founder.
| freetime2 wrote:
| https://archive.is/0TCmS
| birdyrooster wrote:
| Co-founder? Really? I am pretty sure that isn't how that works.
| justrealist wrote:
| Post-success it's pretty common to play around with that
| definition.
| packetslave wrote:
| A case could be made... From wikipedia:
|
| _He was the original angel investor, first chairman, and
| second CEO for Apple Computer, Inc., providing critical early
| funding and managerial support. At the company 's founding,
| Markkula owned 26% of Apple, equivalent to each of the shares
| owned by cofounders Steve Jobs and Steve Wozniak._
| smadge wrote:
| The article also says he was the third employee after Jobs
| and Wozniak.
| birdyrooster wrote:
| Exactly my point, that is not a founder that is an angel
| investor.
| rvz wrote:
| Yes. Investor in Apple, rather than 'third co-founder' as
| the title is complete clickbait.
| ravenstine wrote:
| Don't tell that to all the people who believe Elon Musk
| founded Tesla.
| justrealist wrote:
| Elon's experience at Tesla is a great example of why the
| technicals of who incorporated the original entity
| doesn't matter.
| sgt wrote:
| True. Yet there wouldn't be a Tesla today without Elon.
| Arguably that is a kind of founder in its own right.
| sgt wrote:
| Maybe they made him solder a resistor.
| GauntletWizard wrote:
| When Apple Computer was founded, it's cap table contained
| three people - Jobs, Woz, and Markkula. That seems like a
| reasonable definition of cofounder, even if he wasn't an
| active participant in the company.
| jjtheblunt wrote:
| What about Ronald Wayne?
|
| https://en.wikipedia.org/wiki/Ronald_Wayne
| packetslave wrote:
| For those who haven't clicked through, the co-founder is Mike
| Markkula, not Jobs or Woz.
| activiation wrote:
| And he sold it for $32M... Bought it for $8M in 1982
| gnicholas wrote:
| It sounds like he developed it quite a bit, with buildings
| and even an airstrip. So the math isn't quite as simple as
| present-valuing the $8M from 1982 and subtracting it from the
| $32M in today's dollars. Still made a haul though, I'm sure!
| doctor_eval wrote:
| Apparently $8M in 1982 is worth $25M today, but property
| price inflation doesn't always match CPI.
|
| https://www.in2013dollars.com/us/inflation/1982?amount=8000
| 0...
| repiret wrote:
| Growing 4X in value over 41 years is only a 3.44% annual
| rate of return. I wouldn't call that a haul. If you
| consider cost of improvements, upkeep, and inflation, it's
| probably a loss.
| activiation wrote:
| Is the airstrip still usable?
| smadge wrote:
| Wait so California state granted $24 million to the private
| Wildlands Conservancy, who spent $35 million for the property.
| California should have just bought the property and turned it
| into a state park. This should be public land.
| yding wrote:
| Saves the state money in upkeep, with the tradeoff being that
| the private nonprofit can set its own rules on access.
| freetime2 wrote:
| I wonder if the $24M that the state contributed came with any
| stipulations ensuring public access to the land. It sounds
| like they intend to open it to the public anyway, but for
| that amount of money I assume there must be some binding
| legal agreements as well.
| freetime2 wrote:
| > The conservancy, which operates 22 other preserves in
| California, and one in Oregon, plans to open the scenic property
| to the public for hiking, mountain biking and horseback riding in
| the coming years for free, said Frazier Haney, executive director
| of the Wildlands Conservancy.
|
| > "The property is the size of -- and has the grandeur of -- many
| of California's state parks," Haney said. "It's a wonder land of
| oak-filled valleys and magnificent flower-studded ridgelines."
|
| So it's effectively a new state park for outdoor enthusiasts to
| enjoy in Northern California. Very nice!
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(page generated 2023-06-19 23:00 UTC)