Word: kapor
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...Mitchell Kapor, 33, founder of Lotus Development, a computer software company. A Brooklyn-born math whiz, Kapor graduated from Yale at 20, then dabbled as a disc jockey, an instructor in Transcendental Meditation and a mental-hospital counselor. Little commanded his attention until he impulsively traded in his stereo system for an Apple II computer. Within a few months, he wrote two computer programs that create charts and graphs for businesses and sold them to a software distributor for $1.2 million. With royalties from the programs and backing from venture capitalists, he founded Lotus Development...
...Mitchell Kapor, a onetime Hartford, Conn., disc jockey and instructor of transcendental meditation, also started small. Kapor, 32, ran up $30,000 in debts while writing two business programs on his own time. After selling the rights to the programs for $1.2 million and piling up $500,000 more in royalties, he raised $1 million in venture capital to start Lotus Development Corp. in Cambridge, Mass. Its first major product, called 1-2-3, which runs only on IBM machines, is an elaborate business program that combines management information and graphing along with financial-analysis tools...
...experienced programmers like Kapor step up their output, and personal computers become more sophisticated, competition gets more intense. Apple's new Lisa computer, which will probably be introduced in January, will have many software functions built into the machine. That may limit the market for independent producers. Just as it is no longer possible to start a computer company in a garage, it is becoming harder to get rich writing software in an attic...