Chapitre 19: Chapter 19: The New Era
In the early 1970s, a notable shift took place in the IT industry, largely due to the unexpected involvement of William White.
White Software's office suite revolutionized office processes. The typewriters and word processors were on the verge of becoming obsolete, a reality just waiting to happen.
Currently, there were only two software options available. If new software emerged in the future, the typewriter market would have no chance.
Would more software appear?
There was no doubt about it; everyone loved the dollar. This degree of software development was not particularly challenging. At least, it wasn't too difficult.
During that time, if Apple didn't step up, it would be doomed. Though Jobs claimed not to be concerned, his actions suggested otherwise. Apple's third-generation machine was speeding up.
...
"Wozniak, why can't we develop our own software? The software for the word processors is already good; we just need to make a few tweaks, right?"
"Jobs, have you considered that White might have patent protections? Do you really believe they risked all that money without a solid plan? William White is no pushover. To abandon the oil industry took guts. A man with such decisive courage would certainly have prepared himself. You ought to check out his books; that man is something else -- there's no way he wouldn't protect his interests with patents."
Researching patents proved to be pretty straightforward, and the results left them speechless. Not only did they have patents, but they were numerous and complicated; even imitating them was out of the question. Following their initial plan, they would likely infringe upon dozens of patents.
...
Many other companies found themselves in the same predicament, reaching a similar conclusion: William White was utterly shameless. That was a deep pit -- developing their own software wouldn't even allow them to sell it.
Given the futility of the short-term struggle, IT companies began to partner with White Software. They couldn't afford to waste any time; Apple was off to the races, while their sales were in freefall.
Their existing clients expressed disappointment. If Apple could do it, why couldn't these guys? After all, their prices were quite similar.
What these IT companies didn't anticipate was how smoothly they teamed up with White Software. The software solution they needed was already in testing; results should come within a month. In about 45 days, they would definitely have the related product.
With that in mind, there was no need to hesitate. Their offer was quite enticing. Selling their products would earn them good profits -- not to mention it might be harder to make that margin on their own development.
For businesses controlled by capital, immediate profits took precedence. The downside of managers was their lack of concern for long-term profitability; their income was directly linked to company earnings. Working with White Software would ensure short-term gains, making the choice clear.
White Software's Office suite created a better experience for users, prompting many small and medium enterprises to consult with Apple.
Jobs wasn't going to let this golden opportunity slip away. If he didn't seize it, then he really wouldn't be who he appeared to be.
To capitalize on the last chance, Apple ramped up promotional efforts. Strangely enough, Apple's salespeople turned out to be quite excellent, and Apple computer sales continued to climb. If they maintained this momentum, moving 20,000 units in a month wouldn't be a challenge.
Morgan Stanley remained cautious in evaluating Apple. They acknowledged the undervaluation but didn't raise it.
This era made it hard to earn capital market recognition. They felt conflicted about Apple's valuation and completely lost when it came to valuing White Software.
In their eyes, software companies were as good as shell companies, and they felt there was really nothing worth discussing in terms of valuation. If you pressed them for a figure, it probably wouldn't go over $20 million at best.
After all, they had little in fixed assets, the brand value was merely so-so, and all the employees were brand new, averaging under 30 years old. What worth could that possibly hold?
...
"Tom, how's the European language segment coming along?"
"Boss, we'll be ready for testing in about a week, but Asia won't be that quick."
"You need to pick up the pace. Making a profit isn't the priority. What I need is a competitive edge, and everyone in the company needs to understand that."
"Got it, boss. I'll speed things up."
"If it comes down to it, we might have to hire more people. I have other plans that need executing."
"It's probably best to hire more hands; we're short-staffed."
"Okay, inform HR and bring up the report. I'll sign off on it."
"Sure thing, boss."
Tom was the CEO he had recruited, a choice that had caught many by surprise.
He wasn't even from the IT industry; he was a marketing manager from an advertising firm who somehow caught William White's attention.
In a company, the hardest thing to control was the direction of development. Since William White wasn't worried about it, the focus was naturally on marketing. If other companies tried the same, they would surely crash and burn.
...
As the IT sector grew busier, Wall Street urged caution. The growth in users was undeniable, but competition tightened. Who would come out on top? That remained an open question.
Over time, White Software began entering the European market, shocking a group of Wall Street elites.
To them, the idea was too simple, and saying it held no value was a stretch. But it likely wasn't worth much either.
These fellows certainly didn't come to conclusions without investigation; they quickly found out it wasn't that their integrity was high and didn't want to imitate. The patent traps were just too numerous, and pouring in a lot of money recklessly would be a losing battle.
"It's just patents; can't you just work around them?"
When they raised this question, the expressions they received were akin to looking at a fool. They were too lazy to explain to those blockheads.
Getting around the patents wasn't easy, even the professionals had trouble -- what made these fools think they had the answers?
Did they not notice that European nations had no desire for development? Yet they still bought White Software.
William White was a tough cookie; he had already lined up a group of legal advisors. If you didn't have some muscle, your company would likely go under before your product even hit the market.
After a moment of realization, they found that they had made a mistake -- White Software's value was underestimated. Twenty million wasn't a trivial matter; it was entirely insulting. No wonder they hadn't received any responses.
While they couldn't produce an Office suite, there were still other software options, right? Around computers, ideas started to flow freely, and all kinds of software began to emerge from Silicon Valley. As long as your ideas were expansive enough, some venture capitalists would be willing to throw money at you.
William White became famous, not because of the hundreds-of-million-dollars inheritance he had yet to claim.
His story was incredibly inspiring; his parents' money was still out of reach. If he paid the hefty estate tax, he might even end up in debt.
William White's success relied more on personal effort; the family legacy was more of a burden than an advantage.
People saw it this way for good reason; the Hunter family had acted disgracefully, taking advantage of others.
William White inherited two main assets; to the average person, the oil company seemed far more valuable. Hadn't gas prices soared?
That company was currently under government control; the situation was dire enough without needing to elaborate. As for the farms, it was worse -- nearly all the farmers were on the brink of bankruptcy.
In the face of such circumstances, William White remained undeterred. Now, it appeared he had a very real chance to reclaim what was rightfully his.
This story had its share of family feuds and tales of resilience; there might even be revenge in the future. Americans loved that kind of story.
The fact that this guy was also a writer made the public even more excited; these tales might turn into novels, and the Hunter family was probably sweating bullets, hoping not to be turned into a laughingstock.
Anyone named Hunter in a novel was bound to be portrayed in a disreputable light. The mere thought of such a terrible outcome made the old-timers of the Hunter family shudder.
They had tried to reconcile, but the other side ignored them completely, brushing aside their so-called goodwill.
*****
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