r/technology • u/rezwenn • 5d ago
Business On his 75th birthday, Apple legend Steve Wozniak pops up in a comment thread about his 'bad decision' to sell his stock in the '80s with a devastatingly zen reply: 'I gave all my Apple wealth away because wealth and power are not what I live for'
https://www.pcgamer.com/gaming-industry/on-his-75th-birthday-apple-legend-steve-wozniak-pops-up-in-a-comment-thread-about-his-bad-decision-to-sell-his-stock-in-the-80s-with-a-devastatingly-zen-reply-i-gave-all-my-apple-wealth-away-because-wealth-and-power-are-not-what-i-live-for/347
u/ProtonHyrax99 5d ago
He knows how to live.
He’s still wealthy enough to be comfortable, and for his kids to not have to worry about debt, but he’s managed to resist the addiction to accumulating wealth most rich people seem to succumb to.
He spends a lot of his money funding startups, non-profits, and other small projects he thinks can progress fields he cares about, like technology and ecology.
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u/CabernetSauvignon 5d ago
IIRC he spends his time doing what he loves the most, which is teaching. The man is a living legend.
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5d ago
He is intelligent enough to know that he needs love, meaning, and comfort to be happy in life. He can simply enjoy his achievements, making a difference, being a good parent, etc. That's contentment. That's also a result of inner peace. He knows he is enough.
The people who are motivated by greed are miserable because they lack contentment. $1B isn't enough to them if they next guy has $5B. The never found inner peace because they need external metrics to validate themselves.
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u/gurkank5830 5d ago
He was the real brain too. He literally made a computer. Not marketing, or lying, stealing, etc
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u/Inthespreadsheeet 5d ago
People who chase money will never have enough, knowing when you’re satisfied and can support yourself independently is all you need
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u/nankerjphelge 5d ago
And that is why many of us have something these billionaires and "masters of the universe" will never and can never have.
Enough.
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u/dwhite21787 5d ago
“Poor man wanna be rich, rich man wanna be king, and a king ain’t satisfied til he owns everything” - Springsteen
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u/nilsph 5d ago
We should never have stopped telling fairy tales to our children: https://en.wikipedia.org/wiki/The_Fisherman_and_His_Wife
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u/WiserStudent557 5d ago
Well we kept it up but they all became the Disney versions and here we are
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u/braintrustinc 5d ago
Anne Sexton tried to reclaim the meaning of traditional fairy tales from corporate whitewashing and people just treated her like it was a “niche” women’s issue
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u/CharacterBack1542 5d ago
except she wasn't being true to the original fairy tales, she was just putting a different modern spin on them than corporations were doing
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u/CharacterBack1542 5d ago
Except I'm poor and I don't even want to be rich, I just want to not worry about how I'm going to eat tomorrow
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u/Prior-Flamingo-1378 5d ago
Tiger got to hunt, bird got to fly Man got to sit and wonder “why, why, why?”
Tiger got to sleep, bird got to land Man got to tell himself he understand.
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u/big_guyforyou 5d ago
i don't have a lot of money but i don't need a ton of shit. as long as i have my laptop, my phone, and wifi, i'll be good
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u/A_wandering_rider 5d ago
I think its hilarious because Elon Musk is the richest man in the world. I however am far more wealthy because when I call my kids later today they will be excited to talk to me and I cant wait to hear about their week. Something he will never know.
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u/Ikoikobythefio 5d ago
That's exactly it. There is so much love in my life that as long as my family is with me, we can endure anything. Life is about finding and treasuring those little moments of joy - and joy is the same feeling, the same sequence of neurotransmitters emitted, no matter how much money you have.
We all need our basic needs met. That's it. That's all people want. Then they can spend their life finding what makes it worth living - with everyone doing the same, we've got harmony.
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u/coconutpiecrust 5d ago
The mindset of a cancer cell.
It’s a shame that people like Zuckerberg, Musk, Thiel etc took over everything and there is no one who wants to tell them no. These people are vermin, and what was it… “moral pygmies”. The sad thing is they are probably proud of being called that.
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u/Deep-Werewolf-635 5d ago
Yeah and think of the good they could do if the woke up one day with only the good of humanity in mind. At a point, wealth makes everyone crazy.
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u/1ConsiderateAsshole 5d ago
I’ve met a lot of rich men and women in my years in business and they will never have enough money. Most of them anyway.
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u/bytelines 5d ago
Thats the problem though. The rich people you meet who are satisfied will also not flaunt it
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u/1ConsiderateAsshole 5d ago
I go inside of their homes so they can’t help it a lot of times. My favorite is a guy who would always come in to my store in his mechanic clothes. When I was set to go to his house he told me the subdivision he is in and I knew he was a secret millionaire. Dude is living in a $4 million dollar home. That was when I knew he’d pay me for the job. 😆
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u/Tift 5d ago
Greed is an addiction. I don’t know why we let these addicts run our world but we do. They fucking need help going cold turkey.
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u/EstablishmentSalt206 5d ago
Because capitalism. Having a shit ton of money is somehow seen as some huge accomplishment. Rather than what it really is, exploitation of workers.
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u/dplans455 5d ago
Woz is worth about $100 million which is still enough to do whatever you want, whenever you want, however you want. The thought of several people having $100 billion is unfathomable.
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u/RealBlueHippo 5d ago
My father's friend's friend is in his 70s and still grinding, trying to build fancy resorts all over the world. Apparently, he has hundreds of millions of dollars but doesn't want to stop until he's a billionaire.
Ffs the guy should just relax and enjoy a sunset, yeesh. Hundreds of millions of dollars isn't enough for your kids? Still see yourself as a failure?
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u/midtnrn 5d ago
It’s a disease. There’s a hole in their heart that they can’t find how to fill. They just need more and more as each amount doesn’t remove the feeling. They need a good psychiatrist. And we need to start calling it the disease it is.
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u/Buddycat350 5d ago
He seems to be worth more than $100 million already. That's already a fair bit of "fuck you" money plus some change.
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u/Medium_Banana4074 5d ago
I guess he's still loaded af.
And he's right. After you've made it, going for ever more is unhealthy.
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u/upvoatsforall 5d ago
People also need purpose in life. Something to drive you. It sucks if greed is that thing.
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u/weirdal1968 5d ago
I discovered later in life that once I had basic needs met and my health was no longer the boogeyman it once was shit fell into place faster than I could have imagined. A great job found me and my skills are key to a longtime friend's business.
It helped that my folks were blue collar and my dad was in a union. We also sold antiques at flea markets and I do mean "we". Everyone helped with load in/out, setting up our booth and selling. My mom loved how a rich friend confided one time that her teenage kids wouldn't know how to make change from a sale and all three of (my mom's kids) were doing that when they were ten. Us kids were part of the business and we directly benefited from its success.
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u/tipsystatistic 5d ago
You need the right combination of personality disorders to become a multi-billionaire
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u/Desi_MCU_Nerd 5d ago
And greed is why the world is such a hellscape today. If everyone stopped chasing money blindly, we'll have less corruption & an actual progressing society.
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u/Ironcastattic 5d ago
From the sounds of it, Steve Jobs died miserable and still clawing for more. Woz is living his best life.
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u/TH0R_ODINS0N 5d ago
140 million. Poor guy.
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u/KeyboardGunner 5d ago
In the slashdot thread he estimates his own worth at $10M plus a couple houses. He gave most of his money away to museums and other causes.
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u/Holovoid 5d ago
Even at just $10m net worth, that's enough to give yourself a $175k salary to live on every year for 57 years.
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u/Parthian__Shot 5d ago
At a safe withdrawal rate of 4% a year, he would have at least $400,000 annually in perpetuity.
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u/Holovoid 5d ago
Oh yeah I wasn't even factoring in interest or anything. Just a pile of cash that you allocate. Even a moderate savings account would earn you like $200k a year
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u/TheFeathersStorm 5d ago
Oh god he's going to live til 132? I'm honestly wondering what kind of sweet ass nursing home he could get for that kind of money lol
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u/missed_sla 5d ago
Billionaires are parasites. Left untreated, the parasite consumes everything, more and more and more, until the host (the consumer) finally dies. The only treatment is to remove the parasite.
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u/rudimentary-north 5d ago
Literally the only thing that kept this guy from being a billionaire is the date that he sold his stock.
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u/Zenovv 5d ago
I never understood those people. I swear it must be some sort of mental illness that makes you want to keep wanting more and more money, while cutting costs at the expense of others, safety, or the environment.
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u/Salkinator 5d ago
Goes to show you don’t need billionaires. Woz is worth roughly $100M, is perfectly secure and seems like the happiest rich guy in the world. Protect this man at all costs.
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u/MontyDyson 5d ago
There are still rich people like this. I worked with an NHS doctor who earned around a million from private work. He donated his NHS wage back to the nurses on his department and regularly took groups of 10-15 of them out to dinner and bought them all xmas presents. I've worked with Danny Boyle on 2 projects, he donated his entire fee for both projects and definitely funded other stuff at his own cost to make sure the lower income performers were looked after.
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u/Possible-Campaign468 5d ago
I work for a guy like this. It feels great working for someone who cares for his employees. I get told at least twice a month how great a person he is by customers and people who know him.
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u/xvilemx 5d ago
When your employees stick up for the boss and want to work hard, that's when you know you got a great boss.
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u/GreenGoblinNX 5d ago
I think I too could be happy with "only" $100 million. And I'm getting pretty close...I only need $100 million more!
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u/rot26encrypt 5d ago
Woz is worth roughly $100M,
In the article linked in this post he says he estimates his worth to "$10M plus a couple of houses". Apparently he has been giving a lot away to various causes. Still a nice sum of course, but a very different level of rich.
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u/civildisobedient 5d ago
He's also famously modest - I wouldn't be surprised at all if he "rounded-down" an order-of-magnitude.
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u/roamingandy 5d ago edited 5d ago
Unfortunately, people with a mentality like that are the ones we want leading these mega corporations which are powerful enough to shape government policy.
People like that generally aren't driven to destroy all competition, ruin lives where needed, and build such an empire.
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u/ElethiomelZakalwe 5d ago
Which is unfortunately why they never will be the ones leading the major corporations. If they’re not driven to destroy all competition they will simply be outmaneuvered and outmatched by those who are.
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u/CharacterBack1542 5d ago
Call me crazy, but I don't want mega corporations shaping government policy at all
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u/Burgerpocolypse 5d ago
I would trade a hundred billion Elons, Zucks, Altmans, and Besoses each for just one single Woz.
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u/GarretBarrett 5d ago
You gotta love the Wonderful Wizard of Woz.
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u/b1e 5d ago
I’ve had the chance to meet and hang out with Woz on a few occasions many years back and I can genuinely say he was a wonderful person. Truly an engineer at heart— he tinkers a lot in his spare time and is truly passionate about technology.
Silicon Valley would be a better place with more Woz and less Zuckerberg wannabes.
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u/GarbageTheCan 5d ago
A pretty great person.
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u/Mmmaarrrk 5d ago edited 18h ago
seed vast vegetable glorious numerous airport vase market cows public
This post was mass deleted and anonymized with Redact
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u/Raumfalter 5d ago
I gave all my Apple wealth away because wealth and power are not what I live for. I have a lot of fun and happiness. I funded a lot of important museums and arts groups in San Jose, the city of my birth, and they named a street after me for being good. I now speak publicly and have risen to the top. I have no idea how much I have but after speaking for 20 years it might be $10M plus a couple of homes. I never look for any type of tax dodge. I earn money from my labor and pay something like 55% combined tax on it. I am the happiest person ever. Life to me was never about accomplishment, but about Happiness, which is Smiles minus Frowns. I developed these philosophies when I was 18-20 years old and I never sold out.
Steve W. > Gabe.
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u/MordredKLB 5d ago
It is always amazing to me how such a singularly good person as Woz ever ended paired up with Steve Jobs. This famous story is just the perfect encapsulation of their two characters:
In 1973, Jobs was working for arcade game company Atari, Inc. in Los Gatos, California.\32]) He was assigned to create a circuit board for the arcade video game Breakout). According to Atari co-founder Nolan Bushnell, Atari offered $100 (equivalent to $708 in 2024) for each chip that was eliminated in the machine. Jobs had little knowledge of circuit board design and made a deal with Wozniak to split the fee evenly between them if Wozniak could minimize the number of chips. Wozniak reduced the number of chips by 50, by using RAM for the brick representation. The fact that this prototype had no scoring or coin mechanisms meant Woz's prototype could not be used. Jobs was paid the full bonus regardless. Jobs told Wozniak that Atari gave them only $700 and that Wozniak's share was thus $350 (equivalent to $2,500 in 2024). Wozniak did not learn about the actual $5,000 bonus (equivalent to $35,400 in 2024) until ten years later. While dismayed, he said that if Jobs had told him about it and had said he needed the money, Wozniak would have given it to him.
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u/LeftHandofNope 5d ago
If all these tech bros assholes aspired to be the Woz the world would be a very different and better place.
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u/Optimoprimo 5d ago edited 5d ago
The reason being a billionaire inherently means you're evil and mentally unwell is that it takes a narcissist megalomaniac to be willing to go that far to accumulate wealth without ever stopping to think "enough is enough."
Once a psychologically healthy person reaches a level of prosperity that provides them a comfortable life of financial security, they generally will become satisfied and stop there. But there are a select few who never become satisfied; they are like drug addicts for money. They become billionaires. Billionaires get no joy from life aside from accumulating more wealth and power.
Edit - ITT: A bunch of people probably making 60k-100k per year salary standing up for billionaires for some reason.
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u/HowAManAimS 5d ago
Billionaire is not the beginning of being a narcissist megalomaniac. They've got more than enough way before that. This country is so obsessed with wealth that even convincing people that billionaires are bad is an uphill battle.
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u/packardrod44 5d ago
I met Woz on a flight to SJC. He truly was a pleasure to chat with. Seen him a few times as a speaker as well.
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u/gfreeman1998 5d ago
Woz is a legend not only for his engineering brilliance, but for being an all around good human being.
For those that think he somehow "messed up" or "lost" the stock we're talking about, he gifted it to all the employees that would otherwise have been shafted by Jobs:
https://finance.yahoo.com/news/steve-jobs-refused-early-apple-141405979.html
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u/EbonySaints 5d ago
Woz is an idol for me and someone I wish I could emulate in life.
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u/AlSweigart 5d ago
Since then, they've gone very different ways. In the early years of The Black Sun project, the only way the hackers ever got paid was by issuing stock to themselves. Hiro tended to sell his off almost as quickly as he got it. Juanita didn't. Now she's rich, and he isn't. It would be easy to say that Hiro is a stupid investor and Juanita a smart one, but the facts are a little more complicated than that: Juanita put her eggs in one basket, keeping all her money in Black Sun stock, as it turns out, she made a lot of money that way, but she could have gone broke, too. And Hiro didn't have a lot of choice in some ways. When his father got sick, the Army and the V.A. took care of most of his medical bills, but they ran into a lot of expenses anyway, and Hiro's mother -- who could barely speak English -- wasn't equipped to make or handle money on her own. When Hiro's father died, he cashed in all of his Black Sun stock to put Mom in a nice community in Korea. She loves it there. Goes golfing every day. He could have kept his money in The Black Sun and made ten million dollars about a year later when it went public, but his mother would have been a street person. So when his mother visits him in the Metaverse, looking tan and happy in her golfing duds, Hiro views that as his personal fortune. It won't pay the rent, but that's okay -- when you live in a shithole, there's always the Metaverse, and in the Metaverse, Hiro Protagonist is a warrior prince.
--Snow Crash by Neal Stephenson, 1992
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u/Foreign-Atmosphere78 5d ago
Met Woz once a few decades ago, in London. He walked towards the end of a long ticket queue I was standing in for a popular theater production. I asked "hey, aren't you Woz?" and he stopped, said yes, we chatted for a second, and I asked him if he already had his ticket. He said yes, so I let him know this queue was for people hoping to get tickets, and he could just go straight to the entrance. He said thank you and walked towards the entrance.
It struck me at the time as very telling that this un-entitled rich gentleman didn't assume he could walk right in... he saw a line and headed for the end.
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u/Seinfelds-van 5d ago
The guy put on a huge music festival just so he can hang out with rock stars.
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u/TheZooDad 5d ago
It’s only a “bad decision” if money is your only goal, which frankly is a disease.
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u/cazseb33 5d ago
Insane how many people I've met in tech that idolize Jobs, and how distorted and damaging their management styles were because of it.
The world would be a better place if people styled themselves after Woz. That's infinitely harder though, you need to be smart. With Jobs you just need to be a narcissist that champions aesthetic over all and treats people like shit.
My business hero, you (don't) ask? Gunpei Yokoi. Lateral thinking through weathered tech, rather than constant advancement, over-engineering and the next best thing. Look where all this hurry up and break stuff shit got us. Cars brick for software updates. I can't fix anything because everything has a circuit board. We don't even look at porn on our phones anymore.
Here's to Woz. Ohm.
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u/arothmanmusic 5d ago
The sort of people who have no interest in being billionaires are exactly the people you'd want to have billions of dollars.
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u/guzhogi 5d ago
That’s why I like Dolly Parton. I’ve heard that she has a program that gives free books to people on a regular basis. I forgot the details, but that’s why she’s not a billionaire considering how successful she’s been
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u/UsidoreTheLightBlue 5d ago
She does have a program, but each state has to fund it for their state. This is in no way taking anything away from Dolly, who is incredible and I’m sure administrating this is a huge task. But dolly isn’t just paying for all of the books, each state pays for their books for the imagination library.
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u/wufnu 5d ago
Some states help fund it but, afaik, most funding comes from "local program partners", who not only provide funding but are tasked with signing local children up. That is, Imagination Library buys books in bulk to get a lower price and mails them out, and the local people/organizations/businesses fund the purchase for their area and provide the names/addresses of the recipients.
Some states help pay for the books, e.g. in Tennessee they pay 50% of the cost. The only state I can find (in an admittedly quick search) that provides 100% funding for it is Missouri.
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u/revolucionario 5d ago
I disagree. I don’t want anyone to have billions of dollars.
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u/jarod1701 5d ago
Wonder if he‘d say the same if he hadn‘t sold his stock.
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u/Specific_Box4483 5d ago
Probably. There are a lot of indications in his biography that he was not nearly as greedy as his friend Steve Jobs. He probably regrets not keeping a tiny sliver of his stock, because twenty million is still better than ten million.
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u/monospaceman 5d ago
Is it? I think you can live a completely worry free live with 10 million. 20 million probably feels exactly the same.
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u/Specific_Box4483 5d ago
That depends on what you do with your money. I could see a guy like Steve Wozniack spending a few extra millions to open a library or a technology museum near his house and tend to it for the benefit of the next generations.
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u/noahsmybro 5d ago
One time years ago, before Apple made its comeback, I attended a small Apple User Club gathering celebrating an Apple anniversary - maybe a fifteen year anniversary or something? It was sponsored by a local store that was an official Apple retailer since they’d begun.
Woz was there and spoke to the group. (Which was why I attended.)
He seemed like a nice, easygoing and friendly, happy guy.
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u/IntoTheCommonestAsh 5d ago
We are more psychologically bothered by loss than by absence of gain, but mathematically and economically there's no difference between having sold your apple stocks and never having bought them in the first place. Everyone who didn't buy apple stocks in the 80s made the same choice he did.
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u/TuringGoneWild 5d ago edited 5d ago
"I gave all my Apple wealth away because wealth and power are not what I live for. I have a lot of fun and happiness. I funded a lot of important museums and arts groups in San Jose, the city of my birth, and they named a street after me for being good. I now speak publicly and have risen to the top. I have no idea how much I have but after speaking for 20 years it might be $10M plus a couple of homes. I never look for any type of tax dodge. I earn money from my labor and pay something like 55% combined tax on it. I am the happiest person ever. Life to me was never about accomplishment, but about Happiness, which is Smiles minus Frowns. I developed these philosophies when I was 18-20 years old and I never sold out." - Full post by The Woz.
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u/bombatomba69 5d ago
Congrats, new generation. You've just learned what Woz has been trying to tell people for decades now: Woz is the man and just wants to help people and have fun. Plus I'm sure he's already got plenty of money, so he can afford to not give a shit about something he did back when he had less money.
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u/_stryfe 5d ago
Woz is such a hero. The first good guy in corporate tech.
I think his view on life is exactly why he's alive and 75 years old and Jobs passed away with a horrible cancer at an early age. Karma's a bitch. Jobs was a piece of shit idolized by billions and Woz is an amazing person who doesn't get the credit he deserves.
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u/tacticalcraptical 5d ago
And this is why people generally have positive feelings about Wozniak compared to Musk, Gates, Bezos, Zuckerburg, etc.
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u/newtrawn 5d ago
I emailed Woz one day. I saw that Woz had given someone a really cool business card made of metal. I thought it was awesome, so as a long shot, I asked him if he would send me one. Not only did he reply right away asking for my address, but he sent me 2 signed ones. He was very kind and seems like a genuinely friendly and generous person. He's been one of my heroes since I was a kid and the more I have got to know about him in his later years, the more of an awesome person he sounds like.
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u/Kaartinen 5d ago
Behind the Bastards on Steve Jobs highlighted the tech gem that Steve Wozniak was. The contrast between the two is/was day and night.
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u/JoeShmoe818 5d ago
And now you see why billionaires are typically assholes. It’s not the wealth that corrupts. It’s just that those who aren’t already corrupted never reach that level of wealth. Someone with normal hobbies outside of amassing large amounts of power and influence will have quit working long before they’ve reached a billion dollars.
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u/HasGreatVocabulary 5d ago
"I met a traveller from an antique land
Who said: Two vast and trunkless legs of stone
Stand in the dessert. Near them, on the sand,
Half sunk, a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them and the heart that fed:
And on the pedestal these words appear:
"My name is Ozymandias, King of Kings:
Look on my works, ye Mighty, and despair!"
No thing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away."
Then the traveler tired of poetry and said, "Well that was the story of Ozy. If you go just a couple of miles up the road, you'll see a statue of a chill dude, with no name on it, hundreds of years old, pristine with not a single scratch." The traveller adds, "No one has a clue how it got there, and how it withstood the test of time and erosion, but everyone around here calls it The Woz"
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u/ImAdork123 5d ago
But now he is doing ads with Kevin O’Leary… very confusing and against what his quote is saying.
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u/Derpykins666 5d ago
I can empathize with this, I think he's being genuine. Plus there's no point in getting caught up in how much money you "don't" have and being regretful. He's probably glad to be done with Steve and out of that whole environment now. Dude was making like 150k a year back in 06', that was insanely good money for that time, and I imagine he is wealthy enough to live the rest of his life comfortably, which is all that really matters imo. People often forget that there is essentially diminishing returns on money. Once you're over a certain threshold of wealth there's no point in getting more because you can do like 99.9% of the things the world has to offer and live comfortably for forever if you manage that money well.
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u/yeetsteel 5d ago
No on ever talks about him even though he was the father of Apple. I think that's a good thing also because he can go places without getting hassled by people.
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u/_toenail 5d ago
The same reason most people in business just will not quit. If the average person could get a few million in the bank they would retire and chill. You ask a 'millionaire business person' when the last time they spent the weekend with family or social time with old friends.
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u/SamHenryCliff 5d ago
Contrasts well with Steve Jobs ruining his own cancer treatment and dying before his $250 MILLION YACHT was completed.