October 24, 2001

Inside the Penguin Computing meltdown

Author: JT Smith

An anonymous reader tells us of another story at LinxGram, featuring the story of an anonymous executive. "He said the layoffs were precipitated by the fact that the company's
27-year-old founder Sam Ockman didn't want to dilute his 52%
ownership to less than majority control. (Say, something maybe in the
neighborhood of 40%.) He said Ockman said as much. He said Ockman
said he would rather have control of something small than not have
control of something large."


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