Word: stereos
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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...
...firm spent 8% of last year's sales on research and development, compared with the industry average of 5% to 6%. Some of the laboratory projects have already hit Main Street. One, the compact-digital-disc player, has been hailed as the likely replacement for today's stereo systems. The players use beams of light, rather than needles, to play 4.7-in. silvery discs. Sony last year sold 150,000, or half, of all the CDs purchased in Japan, for prices starting at $495. Sony's two new downsize Walkmans, only slightly bigger than a pack...
While Sony continues to churn out new products, it has not given up on Betamax. The company recently introduced a 5½-lb. hand-held camera and a stereo system that are compatible with Beta videotapes. Says Kenji Tamiya, president of Sony Corp. of America: "We have absolute confidence in the Beta format." Others are skeptical. Says Reginald Duquesnoy, an industry analyst with Arnhold & S. Bleichroeder, a Wall Street investment firm: "The longer Sony sticks with Betamax, the more severely it'll get beaten...
...telecommunications network: two battery-powered toy telephones that a friend and I rigged between our houses." DeMott soon graduated to more complicated gadgets, setting up telegraph keys with a teen-age friend and building electronic devices from six Heath-kits, including his own ham radio rig, stereo and FM tuner. More recently he installed cordless telephones in his New York City apartment and in his country house in the Catskills. "I'm almost as interested in how people communicate as in what is communicated," says DeMott. "My father was a newspaperman, and I remember vividly being in his office...
...Stereo speakers built into molded head restraints...