Ruminations on the electronics industry from David Manners, Senior Components Editor on Electronics Weekly.
The Accidental Millionaire
When Hermann Hauser was thinking about studying physics his father asked a friend – a physics don – what he thought about it.
The friend advised that if he studied physics he’d have a satisfying and exciting life but he’d never have any money.
For the physics student who had accepted that he would never have any money in his life, things have taken an unexpected turn for Hauser.
“The last thing I expected was that I’d end up being a banker,” says Hauser, “I’m really a venture capitalist. The nice thing about being a venture capitalist is that you don’t really have to retire. You just do a little less. The value of a venture capitalist is the network of people they have and the experience.”
“Things for me are now better even than in the early Acorn days,” adds Hauser, “my ambition after making Acorn a £100 million company was to set up another £100 million company. Never in my wildest dreams did I expect that one of them would be a $10 billion company (ARM) and another would be $3 billion (Virata), and that I’d have a whole list of companies in the portfolio with the potential of being $1 billion companies.”