Jobs & Liquidity
More on why Steve Jobs sold to Apple. Bob Cringely writes that it's liquidity for his family:
"The guy had 80 percent of his wealth tied-up in Pixar. That kind of holding is very difficult to sell on the open market. A $4 billion sell order? I don't think so. Remember this is someone who less than two years ago had a form of pancreatic cancer that has only a 50 percent five-year survival rate. I'm not saying Jobs is going to die, but I AM saying that he is in a position where he has to think about these things and his financial position at Pixar was untenable for his family, and left him too exposed if Cars turns out to be a lemon."
"So the sale to Disney gives Jobs a smaller piece of a bigger pie and therefore much easier liquidity. But it also gives him the chance to nag Disney into the 21st century, as I am sure he will. Strong minority shareholders tend to clash with management (look at Ross Perot with general motors and Ted Turner with Time-Warner), and Jobs will do the same with Disney. He'll push to end Disney's partnership with Microsoft, to bring Disney into the Apple-Intel alliance, and potentially try for some partnership with Sony, too. It's the start of a grand amalgamation based around a combination of content, technology, and networking, and I wouldn't at all be surprised to see it end as a single huge company five years from now with Jobs at the helm."
More fun in the article include what the NSA is doing with all that controversial wiretapping and a story on a free phone service for nun in Washington DC.
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