Mike Markkula

February 25, 1981: Original Apple CEO Michael Scott oversees a mass firing of employees, then holds a massive party. The Apple layoffs follow a hiring boom that led to what Scott called a “bozo explosion” at the company. They also stand as an early sign that the fun startup culture of Apple’s early days are gone forever.

“I used to say that when being CEO at Apple wasn’t fun anymore, I’d quit,” he tells a crowd of Apple staffers. “But now I’ve changed my mind — when being CEO isn’t fun anymore, I’ll just fire people until it is fun again.”

For many people at Apple, the day is the worst in the company’s history.

January 28, 1978: Apple Computer occupies Bandley 1, its first custom-built office, giving the company a bespoke business center to house its growing operations in Cupertino, California.
A full 15 years before 1 Infinite Loop, and almost four decades before Apple Park’s stunning “spaceship” HQ  landed, 10260 Bandley Drive in Cupertino becomes the first purpose-built, permanent headquarters for the newly founded company.

January 3, 1977: Apple Computer Co. is officially incorporated, with Steve Jobs and Steve Wozniak listed as co-founders. The Apple incorporation leaves out third founder Ron Wayne — who initially invested in the company — because he sold back his stake in Apple for $800.

The funding and expertise needed to turn Apple into a corporation is provided by a man named Mike Markkula, who becomes an important figure in the company’s history.

December 25, 1977: Apple co-founder Steve Wozniak spends the holidays building a prototype of the Disk II, the Apple II computer’s revolutionary floppy disk drive.

“I worked all day, all night, through Christmas and New Year’s trying to get it done,” Wozniak would later recall in his autobiography, iWoz. “[Early Apple employee] Randy Wiggington, who was actually attending Homestead High, the school Steve [Jobs] and I had graduated from, helped me a lot on that project.”

Wiggington takes December 25 off. Woz does not.

June 1, 1978: Apple launches the Disk II floppy drive, one of the company’s most important peripherals ever.

The best floppy drive available at the time, Disk II solves the Apple II computer’s most glaring weakness — a lack of storage. It also helps establish Apple’s flair for handsome profit margins.

April 15, 1981: Apple CEO Mike Markkula defends the struggling Apple III computer with a surprisingly straightforward admission. The comment comes even as the company pushes an unorthodox “fix” for the Apple III motherboard, which tends to overheat due to a questionable design.

“It would be dishonest for me to sit here and say that it’s perfect,” Markkula tells The Wall Street Journal, after critics blast the new computer for its overheating motherboard. Apple’s official solution to the problem? Ask users to drop their Apple III from a height of 6 inches to reseat the chips.

April 8, 1983: John Sculley, former president of PepsiCo, takes charge as Apple’s third CEO.

Despite a total lack of experience selling tech products, Sculley is lured to Apple by Steve Jobs himself. The Apple co-founder famously pitched the Pepsi exec with the line, “Do you want to spend the rest of your life selling sugared water or do you want a chance to change the world?”

Steve Jobs is no longer the man who spent the longest time as Apple CEO. Tim Cook, the executive currently in charge, has now surpassed Jobs’ record of 4,249 days with that title, making him officially Apple’s longest-serving CEO.

But it turns out the calculation isn’t that simple. Steve Jobs spent several additional years in charge of Apple. He just wasn’t officially “Apple CEO” at the time.

An old, spiral-bound, somewhat stained Apple II computer manual from 1980 went under the hammer at auction the other day. When all was said and done, Indianapolis Colts owner Jim Irsay had the winning bid for the thing — $787,484.

Want to own the home of a former Apple CEO? Wouldn’t we all? Unfortunately, you’ll need to pony up $37.5 million to do so.

Belonging to Mike Markkula, the angel investor who played a critical role in Apple’s early days, the ranch is the largest single landholding in Central California’s Carmel Valley. Markkula reportedly purchased it in 1982 for $8 million. He’s been trying to sell it since at least 2013 — and has dropped the price substantially during that time.

A video by the listing agency, Hall and Hall, lets you take a look around.

Tech buffs can delve into Silicon Valley history by perusing Apple Computer’s first business plan and IPO documents.

The 1977 38-page IPO filing, done in a typewriter-y font with the odd punctuation issue, lists management as the fourth risk factor for potential investors:  “Apple Computers’ Management team is young and relatively in-experienced in the high volume consumer electronics business.”

And would you put money into a company headed by these key execs?

*  “S.P. Jobs, V.P. Operations, Attended Stanford and Reed College, Engineer – Atari – 2 Yrs”
* “S.G. Wozniak, V.P. Engineering, Attended University of Colorado and University of California at Berkley [sic], Engr. Tennant – 1 Yr., Engr. Electroglass – 1 Yr., Engr. – Hewlett-Packard – 3 Yrs.”

The IPO document was donated to the Computer History Museum by original Apple investor Mike Markkula, who saw massive potential in the green startup. In 1977, Steve Jobs met with Markkula and convinced him that personal computers were an exciting opportunity. Markkula invested $250,000 in Apple for a one-third stake in the company and served as president from 1981 to 1983.