Perot to the Rescue
In late 1986 Jobs sent out a proposal to venture capital firms offering a 10% stake in NeXT for $3 million.
That put a valuation on the entire company of $30 million, a number that Jobs had pulled out of thin air.
Less than $7 million had gone into the company thus far,
and there was little to show for it other than a neat logo and some snazzy offices.
It had no revenue or products, nor any on the horizon.
Not surprisingly, the venture capitalists all passed on the offer to invest.
There was, however, one cowboy who was dazzled.
Ross Perot, the bantam Texan who had founded Electronic Data Systems, then sold it to General Motors for $2.4 billion,
happened to watch a PBS documentary, The Entrepreneurs, which had a segment on Jobs and NeXT in November 1986.
He instantly identified with Jobs and his gang, so much so that,
as he watched them on television, he said,"I was finishing their sentences for them."
It was a line eerily similar to one Sculley had often used.
Perot called Jobs the next day and offered, "If you ever need an investor, call me."