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Ronald Wayne: The forgotten co-founder of Apple and billionaire that never was.....
Ronald Wayne was one of the original founders of Apple, Inc. In the late 1970s, Ronald worked as an engineer at video game maker Atari. While at Atari, one of his co-workers was Steve Jobs. In their free time, Steve Jobs and a friend named Steve Wozniak were building homemade computers.
In 1976, Jobs and Wozniak decided they wanted to launch their own company. Jobs reached out to Wayne, who had experience setting up corporations, to be a co-founder.
The oldest member of the three-man team, Mr. Wayne sank personal assets into the business and soon became worried that the project was going to run his finances into the ground. He drew the first logo for Apple, drafted the original agreement between the Apple founders, and wrote the manual for the first Apple computer.
Unfortunately, just two weeks after forming the company Ronald decided to relinquish his 10% stake for a payout of $800. When the company became an official corporation, he was paid an additional $1500 US to give up all rights of ownership.
Ronald went back to working at Atari and later owned a stamp shop. He is now retired, and authored his memoirs Adventures of an Apple Founder, and a book about the Constitution and its historic relevance, Insolence of Office, both of which were published in 2011.
Had Ronald held on to his 10% Apple stake, today it would be worth more than $100 billion today. He has said that he made the "best decision with the information available to me at the time" and does not regret his selling of his shares. The first Apple product he ever owned was an iPad 2 which was given to him in 2011. He is the owner of a dozen patents and was featured in the documentary Welcome to Macintosh. He sold the original Apple company agreement signed by Jobs and Wozniak in the early 90s for $500. That document later sold at auction for $1.6 million.
Today, Wayne, who is 88 years old has a net worth of $400,000. Truly a case of what could have been.
Tuesday
Nigeria was once an indisputable leader in Africa: What happened?
The traditional leadership and redeemer posture of Nigeria in Africa has, in recent years, been put into question.
Issues like corruption and infrastructural decay have held the country down from playing a leadership role in Africa. As have transitions from one poor leadership to another. A visionary leadership is lacking while public institutions are weak, inept and compromised. Decades of political patronage and nepotism have seen a corrosion of quality and performance in the public service.
In addition, the intractable problem of Boko Haram and Islamic State, coupled with kidnappings, have created a security crisis. All continue to shatter the myth of military invincibility and the might of the Nigerian state.
In the beginning, it was not so. From independence in 1960, Nigeria took upon itself the role of uniting Africa against western recolonisation. The continent, from then on in, became the centre-piece of its foreign policy. The fact that nations were living under foreign rule made it possible to galvanise them around a common cause. This led to the creation of the Organisation of African Unity – now the African Union – in 1963 and Economic Community of West African States in 1975.
Nigeria assumed a leading role in these events as it forged a foreign policy with a strong Afrocentric posture. In fact, so frenetic was its involvement in this role that it sometimes paid little attention to the home front.
Nigeria’s leadership role on the continent was a product of the vision, dreams and, sometimes, whims of the founding fathers. They were nevertheless premised on real national capacity. Jaja Wachukwu, Nigeria’s first external affairs minister noted in 1960 that:
Our country is the largest single unit in Africa… we are not going to abdicate the position in which God Almighty has placed us. The whole black continent is looking up to this country to liberate it from thraldom.
This defined the country’s behaviour and continental outlook and has continued to influence successive administrations – weak or effective.
Assuming a leadership role
The sheer size of Nigeria’s population – the largest on the continent which rose from 48.3 million in 1963 to over 220 million in 2022 — gave the country the idea that Africa was its natural preoccupation.
In addition, its colonial experience and the abundance of its oil resources and wealth have empowered Nigeria economically. This made it possible for the country to pursue an ambitious foreign policy. It also permitted Nigeria to finance its Civil War, strengthening its international independence. And oil made possible an unparalleled post-war recovery.
Nigeria has used its influence to good effect and to good ends. For example, it worked with other countries in the West African sub-region to establish the Economic Community of West African States in 1975. It went on to push for the prevention and resolution of devastating conflicts that engulfed Liberia in 1992. The conflict spilled over into Sierra Leone and other countries in the region. Nigeria spearheaded the cessation of hostilities and created the cease-fire monitoring group to bring a total end to the civil strife and restore democracy in both countries.
Many observers agree that the sterling performance of the monitoring group is unparalleled in the history of regional organisations the world over. It has now become a model to emulate for its operational efficiency and for giving regional actors pride of place in the resolution of regional conflicts.
Nigeria exerted similar efforts to ensure that democratic governments were restored to Guinea-Bissau, Cote d’Ivoire and Sao Tome et Principe, after military take-overs in those countries.
It spent over US$10 billion in these peace campaigns and also lost soldiers in the process.
Nigeria has not limited its peacekeeping role to West Africa. It has also been engaged in Burundi, Democratic Republic of the Congo, Zimbabwe and Ethiopia-Eritrea.
The country also played the most important role in fighting apartheid in Southern Africa and supporting liberation movements on the continent.
Disappointments
But Nigeria has not been immune to challenges facing countries on the continent. Corruption, misappropriation of public funds, electoral malpractices, insurgency and terrorism have devastated its capacity and weakened its moral fortitude to lead the continent.
Amidst enormous wealth, poverty in Nigeria is endemic . It could even become the poverty capital of the world, according to The World Poverty Clock. Nigerians have been reduced to the behest of the politicians that tie them to gridlock of “stomach infrastructure”. This is a new trend which reflects institutionalised and structural poverty. Deprivation puts people in a vulnerable and compromised position where the desperation for survival makes them sell their votes and conscience.
The slow movement of the current administration is also killing the Nigerian spirit and leadership posture. South Africa, Ghana and even Madagascar have acted faster in continental and global politics, including during times of emergency such as the current COVID-19 pandemic. But Nigeria seems content with a spectator position.
What next?
Nigeria has been relegated to the background of international affairs. To turn this around requires a revisit to the roots – and mowing the lawns afterwards. Nigeria must take stock of its own performance and capacities and re-position itself – first from within.
If Nigerian leaders are increasingly determined to proffer African solutions to their problems, then political structures and institutions must be reformed to reflect conditions suitable for sustainable development. Without a formidable political base, the economy will remain weak and fragile. The political base is crucial, because, the state is the repository of all ramifications and dimensions of power – political, economic, technological and military. And the purpose of the state is to authoritatively allocate these resources.
There is also a need to empower people to mobilise their local resources and to use them for development. And, of course, public funds should not be concentrated in the hands of few individuals, who may be tempted to steal them. An accountable system is one in which money management has several checks.
Oil wealth has been the country’s nemesis, a curse that has promoted corruption and blatant bleeding of the economy. But it is declining in value and as source of national revenue. Now is the time for Nigeria to make good its repeated and well-advertised intentions to diversify the economy.
A de-emphasis on oil would open the door to smarter ideas about how to create wealth. It would also herald in getting rid of a great deal of the phlegm of corruption which has played such a central role in Nigeria’s infrastructural decay, eroded its influence and given it such a negative image.
Added to this is the succession of weak rulers since 2007.
African leaders do not look towards Nigeria anymore for counsel, inspiration and help. They think Nigeria has a lot on its plate already and needs help. The potential is still there for Nigeria to return to power; but it takes leadership to (re)build the auspicious atmosphere and to activate the country’s potential – the two steps required to regain that enviable frontliner spot on the continent.
This article was originally published in The Conversation.
Monday
Sowore 'disappointed' Tinubu did not participate in Abuja Marathon
The African Action Congress (AAC) Presidential Candidate, Omoyele Sowore has expressed his 'disappointment' that the President-elect, Bola Tinubu did not participate in the 2023 Abuja Marathon.
Sowore stated this while addressing journalists in Abuja on Saturday.
He also expressed disappointment over the absence of the Minister of Federal Capital Territory, FCT, Mohammed Bello, at the race.
The rights activist was one of the participants in the maiden edition of the Abuja International Marathon.
He said: “This is the first Abuja marathon, I participated and I ran longer than I expected. I expected that the Minister of FCT would be here.
“I was even expecting Tinubu to be here, but apparently, I am the only presidential candidate standing after the election.
“I ran with kids, great kids. I am of the opinion that we are wasting a lot of talent in this country.”
According to Sowore, sports was an important tool towards uniting Nigerians and generating employment for the youths.
Sunday
Saturday
Peter Obi reacts to Buhari’s postponement of National Population Census
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| Buhari betrayed Jonathan’s Legacy |
CC™ Global News
By Gboyega Sowemimo
Labour Party (LP) presidential candidate in the 2023 general election, Peter Gregory Obi, has reacted to President Muhammadu Buhari’s decision to postpone the 2023 Population and Housing Census, earlier scheduled for May 3-7 2023.
Buhari in a press statement signed by the Minister of Information and Culture, Lai Mohammed, on Saturday, officially approved the census postponement.
Mohammed revealed that Buhari gave the approval after meeting with some members of the Federal Executive Council and the Chairman of the National Population Commission, Nasir Isa-Kwarra, and his team at the Presidential Villa in Abuja on Friday.
According to the minister, President Buhari approved that a new date would be determined by the incoming administration.
Reacting via Twitter on Saturday, Peter Obi described Buhari’s decision as a welcome development, stressing that National Census is a critical development and nation-building tool.
Obi tweeted: “FGN’s decision to postpone the 2023 Population and Housing Census, scheduled for 3-7 May 2023, to a date to be determined by the incoming Administration is a propitious and welcome development. National Census is a critical development and nation-building tool”
It is imperative that the next National Population Census is done right, with a view to addressing past concerns of the exercise being manipulated to favor a certain region of the country.
Friday
Transgender female runner who beat 14,000 women at London Marathon offers to give medal back
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CC™ Global News
By Ryan Gaydos and Chantz Martin
Glenique Frank, a transgender woman who ran the London Marathon in the female category, offered to give her medal back after controversy stirred when she beat out about 14,000 women in the race.
Frank sparked criticism after she appeared in a BBC interview and gushed about becoming a grandmother. She told the New York Post that the London Marathon was the first race she was able to pick her own name and gender. Several other races she plans on running need her name and gender given on her passport, including New York City, Tokyo and Boston, among others.
Frank told the outlet she was only sorry for "upsetting" her critics.
"If they want me to give my medal back, I’ll say, ‘OK, fine. No problem,'" Frank told the New York Post. "If they really think I’ve stolen the place [of a female runner], I don’t mind giving the medal back, because I’ll run again next year for charity.
"They’re angry because they’re saying that one of 14,000 women behind me could have had my place. Really? I did [the race in] 4 hours 11 minutes. There’s lots of women that beat me."
Frank said she understood she does not have a "womb" but insisted she did not compete as an elite runner and "didn’t steal any money."
Frank’s foray into the London Marathon irked two-time Olympian Mara Yamauchi, who finished in sixth place in the marathon at the Beijing Olympics in 2008 while representing her home country of Great Britain.
Yamauchi did not mince words when she spoke on Frank's win at the marathon over the weekend.
"Males in the [female] category is UNFAIR for females," Yamauchi wrote in a tweet.
"Nearly 14,000 actual females suffered a worse finish position [because] of him," Yamauchi wrote on Twitter.
Frank said her attention was not to try to trick anyone.
"I’ve known since I was 5 that I was in the wrong body," Frank said.
Frank said she is still planning on running marathons and planned on entering the London race next year as "other" or "male" to "just keep everybody happy."
Frank previously ran at an event in New York City while wearing a bra and a wig.
Frank, who is a British citizen, identifies as a female. After running a 17th career marathon, she excitedly spoke about using "girl power" to help get through the race.
Thursday
Nigeria Completes Gas Pipeline Without Chinese Funds
CC™ Energy News
By Charles Kennedy
The Nigerian National Petroleum Corporation (NNPC) has used around $1.1 billion of its own funds so far and has completed work on 70% of a large natural gas pipeline in Nigeria even after a Chinese loan for the project failed to materialize.
Nigeria's federal government announced in July 2020 that the Bank of China and Sinosure had agreed to finance part of the costs for constructing the Ajaokuta-Kaduna-Kano (AKK) gas pipeline to the economic hub in the north, Kano. In the summer of 2021, reports started swirling that Chinese lenders were reluctant to increase their exposure and finance part of the gas pipeline project estimated to cost $2.8 billion.
Nigeria has started to look for alternative funding for at least US$1 billion of the pipeline's cost and has started to approach other lenders, including export-import credit institutions, sources told Reuters two years ago.
This week, NNPC Group chief executive, Mele Kyari, said on a site inspection that the AKK Gas Pipeline project was nearly 70% completed, and more than $1.1 billion has been released so far to finance the project. The pipeline is planned to run for 614 kilometers (382 miles) and is currently being financed by the NNPC.
The AKK Gas Pipeline line will flow 2 Bscf/d and will power industries and power plants and create gas-based industries, Kyari said. By the third quarter of this year, NNPC will complete the entire welding job on this line, he said while visiting a construction site along the pipeline's route.
“We have so far spent over $1.1 billion on this project from our cashflow," NNPC's Kyari said.
"We are a commercial company today. We have inter-company loans within our company now. This company can fund this project, so we do not need any support to deliver this project now."
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