If you’ve read Walter Isaacson’s Steve Jobs biography, you possibly know the name Ronald Wayne. That’s the investor who dropped out of Apple 12 days into its existence as a company — losing around $35 billion after selling his shares for just $800.
In the wake of a reported deal with Beats, we have a repeat of that story — courtesy of the one key party that won’t see a scratch from the rumored $3.2 billion acquisition.
Although Iovine and Dre get all the credit for Beats, it was Monster CEOs Noel and Kevin Lee who designed and developed the world’s very first pair of Beats headphones, and did the engineering and technology distribution for the company’s first five years.