Ed is feeling he needs to do something to assert his authority. What better, he thinks, than to announce a product initiative? He calls the product managers to a meeting to announce his new strategic direction.
'I tell the product managers that I have signed an MOU with a design company for a license for a programmable silicon fabric which we will use to enter the programmable logic market', writes Ed in his diary entry for that day.
'There's a bit of a silence', writes Ed.
'Excuse me, Ed', asks a product manager, 'but where is the programming software to come from?"'
'"We'll buy it in," I tell him.'
'"You can buy synthesis software, but how about place and route?" says this guy, "ST spent $50 million developing place and route software when it tried getting into programmable logic - then gave up." He adds, "I hope you haven't committed any money to this programmable fabric licence."'
'Actually I have', writes Ed in his diary, 'but I shake my head and tell him: "Nothing significant".'
'Shit, Oh Double Shit, 'writes Ed, 'there's a pull-out charge of $50,000 on the licensing agreement. I'll have to try and hide this, but it's bound to get out now I've told these buggers.'
'Still it's only 298 days to go to the IPO and then I'm off with my boots well and truly filled.'
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