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encouragement, two of his students, Bill Hewlett and Dave Packard, founded an electronics company named Hewlett-Packard in Packard’s garage. Some myths are true; the garage is now a historical landmark in Palo Alto.
    After working during the war at Harvard to develop the technology of radar, Terman resumed his post at Stanford and joined others in an attempt to make that university a center of high technology in collaboration with business and government. The railroad baron Leland Stanford, one of the captains of industry of early industrial America, bequeathed his eight-thousand-acre ranch to the university that bore his son’s name. Terman and his colleagues leased out Stanford’s acreage, now called the Stanford Industrial Park, to select high-technology firms including General Electric and Eastman Kodak. One of Terman’s biggest prizes was William Shockley. Shockley joined the faculty at Stanford and directed the Shockley Laboratory of Beckman Instruments.
    Several of his protégés, nicknamed “the Traitorous Eight,” quit to form Fairchild Semiconductor. Its veterans in turn went on to found dozens of companies like Intel in what became Silicon Valley, an area that included Palo Alto and—here is a link to the second industrial revolution—Menlo Park, named after Thomas Edison’s famous research laboratory in New Jersey.
    Meanwhile, Hewlett-Packard had grown into a substantial electronics firm that moved into the computer market. The earliest documented use of the term “personal computer” has been found in the October 4, 1968, issue of Science magazine, in an ad for Hewlett-Packard’s HP 9100: “The new Hewlett-Packard 9100A personal computer is ready, willing, and able . . . to relieve you of waiting to get on the big computer.” 29 At forty pounds and costing nearly five thousand dollars, the HP 9100A could be improved upon. And it was—by, among others, Steve Wozniak, who worked for HP before teaming up with Steve Jobs to found Apple Computer.
    In another garage, the garage of Jobs’s parents’ house, Wozniak and Jobs experimented with assembling small personal computers. Wozniak’s boss at Hewlett-Packard reportedly told him, “HP doesn’t want to be in that kind of market.” 30 Jobs and Wozniak founded Apple Computer, Inc., which in 1977 brought out the first successful personal computer (PC), the Apple II.
    Jobs went on to have one of the most remarkable careers in the history of American business. Apple developed a cultlike following with its Apple Macintosh PC. But Jobs was forced out of the company by its board of directors. In 1985, he founded another company, NeXt. When NeXt was bought by Apple, Jobs returned as CEO from 1997 to 2011, overseeing the release of the innovative iPod, iPhone, and Apple Tablet.
    Two other hobbyists, Bill Gates and Paul Allen, wrote beginners all-purpose symbolic instruction code (BASIC) to be used by Atari fans. They went on to found Microsoft, which began as a small Seattle company with only a few dozen employees.
    Having decided to enter the personal computer market, IBM decided that it needed skilled outsiders to provide software. First it approached Gary Kildall of Data Research. For reasons that remain disputed, IBM instead chose Microsoft, run by Allen and the twenty-nine-year-old Gates. Microsoft bought software from a local firm, Seattle Computer Products, and developed it into the operating system MS-DOS. IBM brought out its personal computer, the IBM PC, in August 1981. Bundled with most IBM PCs and compatible machines, MS-DOS became the industry standard after IBM chose to buy its operating software from Microsoft—making Gates for a time the richest person in the world—and its microprocessors from Intel.
    VENTURE CAPITAL
    The term “venture capital” is frequently found in the memex discussion of Silicon Valley, so we follow a side trail to a treatment of that topic that begins with George Doriot.
    Doriot is often identified as the