Tech

MISSING OUT ON BILLIONS: These 10 People Made Some Of The Saddest Choices In Tech History

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Crystal Ball
Wikipedia

Wouldn't it be great to have a crystal ball? Some way to see into the future and learn if you just made a genius decision or a regrettable mistake?

The folks on this list sure could have used that.

The tech industry is littered with stories of people making choices that would cost them hundreds of millions or even billions of dollars.

Nolan Bushnell could have owned one-third of Apple

Nolan Bushnell

Atari founder Nolan Bushnell turned down the opportunity to invest $50,000 in seed money in Apple. At Atari, Bushnell was one of Steve Jobs's first bosses.

Had Bushnell said yes, he would have owned a third of Apple, a company that is today valued at more than $400 billion.

Ronald Wayne could be worth $40 billion today

Ronald Wayne
Ronald Wayne

Ronald Wayne, Apple's third cofounder, sold his 10% stake in Apple for $800 two weeks after launch. He later got $1,500 for renouncing all claims to ownership.

If he had kept it, it would be worth about $40 billion today.

HP execs said no to Woz five times

HP John Young
Former HP CEO John Young Oregon State University

Back in the 1970's Steve Wozniak worked for Hewlett-Packard designing engineering calculators. In his spare time, he created a PC that would later become the Apple 1 computer.

Five times, Woz begged the executives at HP, lead by then-CEO John Young, to manufacture his PC. They said no. So he left HP to start a company called Apple with his buddy Steve Jobs.

Joe Green took his dad's advice and said no to Facebook

joe green nationbuilder
Joe Green Nation Builder

Mark Zuckerberg's college roommate, Joe Green, turned down an offer to help Zuckerberg start Facebook.

When the two were at Harvard, they created a Hot-or-Not style website called Facemash, which got the pair in trouble with the university. When Zuck asked Green to help him with Facebook, Green's dad discouraged his son from doing another project with Zuck.

Had Green joined the company in those early days, he would have gotten about about a 5% stake, he thinks, which today would be worth about $3 billion.

Battery Ventures balked at funding Facebook

Scott Tobin Battery Ventures
Scott Tobin Battery Ventures

Facebook got its start in Zuckerberg's Harvard dorm room. And it might have stayed in the Boston area if Battery Ventures, a venture-capital firm based there, hadn't walked away from negotiations with Zuckerberg back in 2004.

Battery Ventures partner Scott Tobin, who was involved in that meeting, later called Facebook "the biggest fish that ever got away.”

Bessmer VC David Cowan avoided meeting Google's cofounders

David Cowan Bessemer
Skybox Imaging

A few years ago, tech investor Bessemer Venture Partners published what it called its "anti-portfolio." That's a list of companies it could have invested in, but didn't. It was a fresh and entertaining look at the VC world.

One of the best stories is how partner David Cowan missed his chance to seed Google. Cowan’s college friend, Susan Wojcicki, had rented her garage to Sergey Brin and Larry Page as the first office for Google. She tried to get Cowan to meet with them.

Instead, Cowan painstakingly avoided the garage and the two cofounders at work there.

Viddy's Brett O'Brien walks from a reported ~$100 million buyout

brett o'brien viddy
Viddy

Last spring, Brett O'Brien's startup Viddy was a sensation. Photo-sharing app Instagram had just been acquired by Facebook for $1 billion, and Viddy—often called the "Instagram for video"—had about 30 million monthly users.

Twitter reportedly came looking to buy the company for somewhere in the $100 million range, but Viddy walked. (O'Brien denies those reports, saying the Twitter talks didn't progress into an actual offer.)

Too bad O'Brien didn't get Twitter to make an offer. Viddy's popularity has since taken a nosedive and O'Brien just lost his job as CEO.

Mike Lazaridis thought the BlackBerry Storm could counter the iPhone

mike lazaridis rim research in motion
AP

It's been six years since Apple launched its gaming-changing iPhone and BlackBerry is only now coming up with a credible challenger, the BlackBerry 10.

The general consensus is that this is too little, too late.

There was a moment in 2008, when BlackBerry—then known as Research In Motion—could have saved itself. Its users were fanatically loyal and waiting for the touchscreen BlackBerry Storm. But the Storm was buggy and hard to use, sending them into Apple's arms.

RIM cofounder Mike Lazaridis stepped down as co-CEO in late 2011, and recently quit BlackBerry's board of directors, severing his last tie with the company.

Jerry Yang shooed away Microsoft's $44 billion

jerry yang
AP

Yahoo CEO Jerry Yang infamously turned down a $31-a-share, $44.6 billion offer from Microsoft in 2009. 

Many shareholders were unhappy and wanted Yahoo to sell. All the drama sent the company into a downward spiral for years. Only now, with former Google executive Marissa Mayer in charge, is Yahoo finally on the mend, it's stock trading in the mid-20s.

Still, who knows what the search engine market would look like today if the No. 2 and No. 3 search providers had combined in 2009?

Groupon's Andrew Mason turned down a $6 billion offer from Google

andrew mason
Andrew Mason Michael Seto / BI

Andrew Mason turned down a $6 billion buyout offer from Google. Instead, he opted to take Groupon public.

The IPO raised $700 million, and the company was briefly valued at more than $12 billion. But the stock promptly tanked after Groupon missed earnings forecasts and struggled with its accounting. A month ago, Mason reported he'd been fired, and cofounder Eric Lefkofsky and board member Ted Leonsis took over as co-CEOs.

Now, let's look at people who made far better choices ...

Alex Kipman Microsoft
Microsoft

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Julie Bort was Business Insider's Editor at Large for the Tech team. She loves investigating stories and shedding light on the tech industry's most amazing people.Here's a small sample of some of Julie's work.Former Pinterest employees describe a traumatic workplace where managers humiliate employees until they cry, Black people feel alienated, and the toxic culture 'eats away at your soul'Sex, tequila, and a tiger: Employees inside Adam Neumann's WeWork talk about the nonstop party to attain a $100 billion dream and the messy reality that tanked itInsiders say WeWork's IT is a patchwork of cheap devices and Band-Aid fixes that will take millions to fixWeWork's toxic phone booths were created in-house by its Powered by We business70-hour weeks and 'WTF' emails: 42 employees reveal the frenzy of working at Tesla under the 'cult' of Elon MuskElon Musk works so many hours at Tesla, employees are constantly finding him asleep under tables and desksHow this woman went from a Pizza Hut employee to a founder of a $4 billion startupAn Oracle insider explains how some salespeople gamed the system to sell more cloudTHE TAKEDOWN OF TRAVIS KALANICK: The untold story of Uber's infighting, backstabbing, and multimillion-dollar exit packagesMicrosoft is in talks to buy GitHub, a startup at the center of the software world last valued at $2 billionThe alarming inside story of a failed Google acquisition, and an employee who was hospitalizedInside Facebook's plan to eat another $350 billion IT marketHow a registered sex offender wound up living in an Airbnb hosting unsuspecting guestsA controversial ex-banker is the person who really runs Twitter — and he's gambling the company's future on one risky betSecret passages and skipped meals: Oracle's CEO gave us a rare peek at what it really takes to run a $37 billion companyHP told some employees to choose between becoming contractors with no benefits or being fired without severance'I felt like we were being extorted': Customer says Oracle tried to strong-arm him into a cloud saleHow the queen of Silicon Valley is helping Google go after Amazon's most profitable businessAirbnb host: A guest is squatting in my condo and I can't get him to leaveLIES, BOOZE, AND BILLIONS: How one of the fastest-growing startups in Silicon Valley history raised $580 million then spiraled out of controlGitHub is undergoing a full-blown overhaul as execs and employees depart — and we have the full inside storyWhen she's not writing for Business Insider, Julie can usually be found on the trails, on my mountain bike, or on my skis, if you know where to look.