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Nowadays, stealing other people’s ideas and commercializing them is nothing out of the ordinary within the business world. Facebook was stolen from the Winklevoss twins and Divya Narendra, Apple was stolen from Xerox, and Microsoft was also stolen from Xerox. Given that these companies are some of the largest in the world today, it’s clear that the consequences for stealing ideas isn’t all that high. But, there was one situation in which the founders stealing the idea got a taste of their own medicine. Such was the case with Cisco’s founders Sandy Lerner and Leonard Bosack. This duo stole internal tech that was used at Stanford University to link departments together and commercialized it with Cisco. For several years, Cisco experienced exponential growth and few consequences for their actions. But, eventually, a VC firm came in and aggressively bought out the founders and eventually fired them. The founders would end up selling their remaining stake out of resentment in the early 1990s which gave them a cool $170 million. But, this is nothing in comparison to the hundreds of billions they could’ve earned if they had held onto their stake. This video explains the treacherous founding of Cisco and how Cisco’s founders ended up losing everything.
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Timestamps:
0:00 - The Battle For Cisco
2:32 - Stealing Cisco
5:46 - Growing Cisco
8:51 - Losing Cisco
11:51 - The Aftermath
Resources:
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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
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