Alex Netelkos

July 16, 2023

Be Ronald Wayne (Before You Can Be Steve Jobs)

Steve Jobs is a transcendent figure for our modern times. The man who, with his business Steve Wozniak, founded perhaps the most iconic company of the 21st Century. Apple is the world’s largest tech company and ushered in the smartphone revolution. In a world that "thinks the same", they "think different".

Any of the tales you hear about Apple, from their iconic "1984" tv ad to the creation of the iPhone, involve Steve Jobs singlehandedly showing his sheer genius to birth these epic ideas and push society to the next level.

What most people don’t realize is that Apple had a third cofounder, Ronald Wayne. He infamously sold his shares in the company (10%) back to the two Steves only 12 days after founding the company for only $800. His shares now would have been worth well over $1 billion dollars. In the tech world, it’s quite common to think of Wayne as the Pete Best or Wally Pip of startups. That is, the person who missed out on the raging success because of the poorest of luck. Jobs is viewed as a titan of industry and Wayne a cautionary tale.

It is truly remarkable to watch the mind of a brilliant individual like Steve Jobs. There is no denying his intellect and his keen eye for product management. There are many tech topics that I will reference him on (one such example for adtech: https://www.youtube.com/watch?v=39iKLwlUqBo). 

However, in a world of Steve Jobs, I prefer to be a Ronald Wayne. That might sound like a remarkably foolish thing to say since Wayne missed out on a fortune. However, Ronald Wayne displayed a key characteristic throughout his brief endeavor with Apple: he was true to himself despite (and sometimes in spite of) the misfortune around him. 

Ronald Wayne had previously gone into business opening his own slot machine company in Nevada. However, his business went under after five years of operations. He loved slot machines, but realized he was not a keen businessman. He self-professed that, "I had no business being in business. I was far better working in engineering." He also described his experience running a business as being "very traumatic", which led him to a more risk-averse life.

Through this experience (and surely many others), Ronald Wayne figured out who he was, what drove him and the things that brought him joy. He preferred working engineering jobs vs. starting a business. He loves slot machines, stamps, and coins. He designed Apple’s original logo that incorporated Isaac Newton and words from a Wordsworth poem. He has even published books of his own, both about Apple and global monetary systems. These are hobbies and accomplishments that anyone should be proud about.

Ronald Wayne knew exactly who he was. Therefore, he has stated that he knew what his life would become if he continued working at Apple. Jobs and Wozniak would have put him in charge of documentation systems, which was not fond of. He would have also grinded again in the entrepreneurial journey, which was too much for him to experience for a second time. Even if Apple did become successful (which Wayne has started he believed Jobs and Wozniak would become), then he is quoted saying, "probably would have wound up the richest man in the cemetery". He knew this was not a life he would enjoy. In his words, "I knew what I would become….That was not the future I saw for myself."

Because of that, has repeatedly stated that he does not regret his decision one bit. Ronald Wayne knew who he was. He understood exactly what worked for him and what did not and was at peace with that. He didn’t settle on his core values and identity. He had tried the entrepreneurial route before and realized he didn’t like it. He stayed true to himself.

This can feel almost radical. We’re told first and foremost to follow the Steve Jobs of the world because they reach for the stars and get there. However, do we need that level of success in life to feel fulfilled? We should first and foremost pursue the things that bring us joy and understand who we truly are first rather than put ourselves in the same box as Steve Jobs. Perhaps Steve Jobs remained true to himself, and in that regard if you find yourself like jobs, then be a Steve Jobs. However, we cannot assume that everyone has the same level of drive or motivations as someone like Steve Jobs. 

Worse off, I worry that people use drive and accomplishments to fill voids in their lives that are vacated by other places. The tales of entrepreneurship are filled with people who achieve grand success and vast fortunes, only to feel an emptiness afterwards. This might be easy to lampoon with people like Jeff Bezos becoming some hybrid between Lex Luthor and Pitbull in an attempt to keep wanting more. However, there are plenty of other more relatable tales from tech, like that of Justin Kan who struggled mightily after exiting Twitch (https://www.youtube.com/watch?v=7rIL5vHoF34).

This is all not to say that Ronald Wayne couldn’t have done differently or that you should follow his exact footsteps if you are in a similar situation. I would have advised him to give Apple a try for a year, and if he felt the same way after that year, then part ways with the company. At the very least, he would have been left with some equity for his hard work. Perhaps Wayne could have even stayed on in an advisory role with him retaining some shares so he can mentor the two Steves. There could even be a lesson to understand how to strike a balance between ethics and pragmatism with Ronald Wayne’s situation. 

However, the underlying story remains for Wayne and everyone else in similar situations: stay true to who you are. If your mind and body are telling you something, then listen to it. Just be willing to live with the consequences. We all have triumphs in our lifetimes and we all know people who have been very successful. But how many of us know folks who’ve mastered being content with who they are as people? How many of us can lay claim to that very same thing? 

With all this in mind, Wayne can be viewed as somewhat of a stoic hero. He faced the inevitability of life’s misfortunes, and nonetheless stayed true and proud of who he was. He would have made Marcus Aurelius and Seneca very proud. Perhaps, he should be admired just as much as Steve Jobs.