Ron Wayne Sold 10% of Apple for $800
Short-term fear of downside destroyed the greatest upside in business history.
Ron Wayne was Apple's third co-founder. He owned 10% of the company. Twelve days after signing the founding documents, he sold his stake for $800 because he was worried about personal liability if the company failed. That stake would eventually be worth over $300 billion. It's the most expensive case of loss aversion in recorded history.
From Episode 457: The Simple Way to Create More Luck, Friends, and Opportunity
Shared by Sheel Mohnot
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