Huh? Woz shuts down Wheels of Zeus?
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Steve Wozniak, co-founder of Apple, has apparently shut down the GPS and wireless start-up he founded a few years ago, called Wheels of Zeus.
We say convenient because "Woz" just raised $150 million two days ago, as we mentioned here, for Acquicor, a sort of shell company designed to simply buy up technology properties.
But the premise of the whole Acquicor venture, as explained in its prospectus, is that Woz and two other former Apple execs, Acquicor's only employees, have the skills and accomplishments necessary to do the job. But what do they have to show recently?
This is not good. It is fine for Woz to throw in the towel on his previous company, but it wasn't disclosed to Acquicor investors. Why does this news ooze out now, only two days after Acquicor lists publicly?
Perhaps Woz and Acquicor will have a good answer, and maybe we are being too hasty to judge. We're eagerly waiting their response.
http://www.siliconbeat.com/cgi-bin/mt331/mt-tb.cgi/1228
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Matt -- i think time will find that Acquicor will be very successful. The other two partners are Gil Amelio and Ellen Hancock -- they have the talent and wisdom to evaluate technology and manage undervalued assets. Gil and Ellen are class acts in Silicon Valley and I'm excited to see what they accomplish.
Auren Hoffman on March 16, 2006 7:04 PMComment link
Gimme a break. Gil and Ellen are has-beens and both nearly drove Apple out of business.
Ellen's most recent claim-to-fame is running Exodus right into bankruptcy.
Question: Why does Apple's co-founder hook-up with the two biggest losers that almost destroyed the company he started?
Anon on March 17, 2006 10:05 PMComment link
Auren, I guess I'm wondering what Acquicor is bringing to the table? As you know, there are hundreds of private equity firms and hedge funds, run by extremely aggressive managers, who are competing with them. So who are investors in Acquicor? Which big insitutions gave these guys $150M, and why? Did my mutual fund company, Vanguard, invest, for example? Does my retirement depend partly on these guys? I'd like to know, and I'll probaby do more research on this.
matt marshall on March 18, 2006 10:41 AMComment link
I raised my eyebrow when I saw this too. I saw Gil and Ellen at work at Apple during the 90's. I won't question good or bad but I do have my point of view. My main observation is that they are observers and high-level managers. I haven't seen them be the (a) idea creator, (b) inspiring leader, (c) high-level contributor who can develop something with their own IP. All that said, they'll be fine in companies with 50,000 people and need someone to manage resource allocations, etc. But Silicon Valley is more known for making great ideas come to life. Based on what I've seen, it might be a mismatch.
Nilofer Merchant on March 19, 2006 8:34 AMComment link
Hmm..
Compare and contrast Steve Jobs' and Steve Wozniak's performance post (initial) departure from Apple. Steve Jobs had one loss with Next (though somewhat ameliorated with the Apple O/S purchase later) and a string of successes including the glittering one of pulling Apple out of the trashcan! Steve Wozniak hasn't had a success since.
The other partners in this enterprise are not much better at picking or making winners.
Bob Sutherland on April 19, 2006 1:45 PMComment link
