Wozniak, not surprisingly, had the opposite attitude.
Before the shares went public, he decided to sell, at a very low price, two thousand of his options to forty different midlevel employees.
Most of his beneficiaries made enough to buy a home.
Wozniak bought a dream home for himself and his new wife, but she soon divorced him and kept the house.
He also later gave shares outright to employees he felt had been shortchanged, including Kottke, Fernandez, Wigginton, and Espinosa.
Everyone loved Wozniak, all the more so after his generosity, but many also agreed with Jobs that he was "awfully naive and childlike."
A few months later a United Way poster showing a destitute man went up on a company bulletin board.
Someone scrawled on it "Woz in 1990."
Jobs was not naive. He had made sure his deal with Chrisann Brennan was signed before the IPO occurred.
Jobs was the public face of the IPO, and he helped choose the two investment banks handling it:
the traditional Wall Street firm Morgan Stanley and the untraditional boutique firm Hambrecht and Quist in San Francisco.
"Steve was very irreverent toward the guys from Morgan Stanley, which was a pretty uptight firm in those days," recalled Bill Hambrecht.
Morgan Stanley planned to price the offering at $18, even though it was obvious the shares would quickly shoot up.
"Tell me what happens to this stock that we priced at eighteen?" Jobs asked the bankers.
"Don't you sell it to your good customers? If so, how can you charge me a 7% commission?"
Hambrecht recognized that there was a basic unfairness in the system, and he later went on to formulate the idea of a reverse auction to price shares before an IPO.
Apple went public the morning of December 12, 1980.
By then the bankers had priced the stock at $22 a share. It went to $29 the first day.
Jobs had come into the Hambrecht and Quist office just in time to watch the opening trades.
At age twenty-five, he was now worth $256 million.