Most people are not aware that Apple Corporation had its beginnings in a garage. Steve Wozniak, Steve Jobs and Ronald Wayne were responsible for its development. The Apply I personal computer was hand-built by Wozniak in his garage.
In 1977 Apple was incorporated and Ronald Wayne opted out of the company by selling his shares back to the company for $800. Stepping in to provide financial support was Mike Markkula, a multi-millionaire, with a $250,000 investment. Markkula helped Apple obtain the necessary credit and venture capital to expand and refine the company’s operations.
Later in 1977, the Apple II computer was introduced with a 5 1/4 inch floppy disk drive which was a revolutionary advancement over other computers. Sales were temped until a piece of software was introduced to run on the Apple II computer.
VisiCalc was a spreadsheet program that opened a niche for business applications. Like Apple, it was a privately developed program. Dan Bricklin and Rob Frankston were responsible for designing and bringing this innovative software to the market.
The marriage of the Apple hardware with the VisiCalc software created the personal computer revolution. The only government involvement was the incorporation of the companies.
The success of these companies and those that followed clearly demonstrated that government help was not a factor. For example, Silicon Valley was not created by the government but paid for by the corporations that located their operations to that area. It was in the local and state governments’ interest to build the roads and infrastructure because it generated revenue for those governments. Without the companies, there would not be a Silicon Valley and a major source of revenue for California.
Obama and Elizabeth Warren don’t understand that governments benefit from helping businesses but governments don’t create profitable enterprises. It is in the best interest of governments to support and facilitate businesses because of the revenue they generate. This is why states compete with each other to attract businesses.