Word: kapor
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Dates: during 1982-1982
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...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...