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I have not discussed any of the specific details of the venture in this paper, such as the amount of money to capitalize the company, how much each limited partner would be expected to chip in, etc. Nor have I gone into specifics about the precise organization of the company or who does what. This just isn't possible yet; I have no idea who is really interested in it. You build an organization out of the people you have, you don't try to ram people into predefined slots.

We want to start a venture which in three years will be one of the top five names in the microcomputer software business. We're crazy to aim lower or limit our sights. We're at a point where substantial market segments haven't been addressed yet and by moving fast we can grab a market share and make our company grow from generated revenues (note that all the software houses who've brought in venture capital had basically saturated their initial market first). At the point where we have to make that decision, we can be consoled by the fact that we'll already be millionaires.

I can think of no business (well, legal business) where we can start-up with so little capital or downside risk. If this business looks too shaky to you, where do you expect to find a better deal? I cannot imagine any scenario other than total collapse of society in which the sales of microcomputer application software will not grow by a factor of 10 in the next five years. The big vendors of small machines have not only not entered the software business, they appear totally in awe of it and willing to grab any product and promote it to sell their machines.

Editor: John Walker