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Steve Jobs’ son launches $200 mn VC fund

The 31-year-old Reed is “expanding on his work at Emerson Collective, a philanthropic organisation founded by his mother…reports Asian Lite News

Reed Jobs, the son of late Apple Co-founder Steve Jobs, is starting an investment firm to focus on new cancer treatments, and has already closed its debut fund worth $200 million, the media reported on Tuesday.

The 31-year-old Reed is “expanding on his work at Emerson Collective, a philanthropic organisation founded by his mother, Laurene Powell Jobs,” reports DealBook.

His father and iconic Apple figure Steve died from complications of pancreatic cancer in 2011.

“My father got diagnosed with cancer when I was 12,” Reed was quoted as saying.

He was at Stanford University then, studying as an undergraduate student to become a doctor.

Shaken by his father’s death, he took a break from oncology and switched to majoring in history.

However, he returned to the field after completing his master’s degree and led Emerson’s health care division.

Reed has now created Yosemite VC firm, “whose name alludes to the national park where his parents were married”.

The firm has raised $200 million from investors and institutions including the venture capitalist John Doerr, Memorial Sloan Kettering Cancer Center, The Rockefeller University and MIT.

“My dad succumbed to cancer when I was in college at Stanford. I was pre-med because I really wanted to be a doctor and cure people myself. But just completely candidly, it was really difficult after he passed away,” Reed was quoted as saying.

“I had never ever wanted to be a venture capitalist. But I realised that when you’re actually incubating something and putting it together, you can make a tremendous difference in what assets are part of that, what direction it’s going to take, and what the scientific focus is going to be,” he added.

According to DealBook, Yosemite will run a for-profit business but also maintain a donor-advised fund. The idea is to help seed innovation.

Reed has three siblings, sisters Lisa Brennan-Jobs, Eve Jobs and Erin Siena Jobs.

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Tech Lite

Steve Jobs’ Macintosh likely to fetch $300K at auction

The last task that the Macintosh was used for before being provided to Timothy Cook was a marketing project in 1994…reports Asian Lite News

A Macintosh SE used by Apple co-founder Steve Jobs at NeXt will be the highlight at an upcoming technology auction that could fetch $300,000.

The History of Science and Technology, including the Space History auction held by Bonhams, features a wide array of documents and physical items connected to noteworthy events, companies and individuals, reports AppleInsider.

Among the listings is a considerable number of lots dedicated to Apple and to Steve Jobs.

The Macintosh SE computer was used by Steve Jobs while he worked at NeXT following his initial departure from Apple.

It is described as having been originally set up for use by Jobs’ assistant in late 1987 to early 1988, the report said.

The hard drive inside the machine is said to hold data relating to his working schedule including task lists, recruiting work, travel, and details of a missed meeting with King Charles III, known at the time as the Prince of Wales, it added.

It was moved from the original NeXT office in Palo Alto to Redwood City,and was on Jobs’ desk till 1993, an inventory of Jobs’ office reveals.

There is also evidence that Jobs’ daughter Lisa Brennan-Jobs used the Macintosh SE when she visited the office.

The last task that the Macintosh was used for before being provided to Timothy Cook was a marketing project in 1994.

The listing for the lot puts a valuation for the Macintosh SE at between $200,000 and $300,000. It includes the 20MB hard drive, an additional backup drive, a keyboard, and a mouse.

The auction contains a number of other Apple-specific lots, including the Apple II: Ventless Rev 0, valued at between $20,000 and $30,000, and an Apple Macintosh Team Polo Shirt from the 1980s, expected to sell for between $1,000 and $2,000.

Other Jobs-related items in the auction include a NeXT performance review from 1995 signed by Jobs, thought to be worth between $6,000 and $8,000, and “personal items from Steve Jobs’ NeXT office” at between $1,000 and $2,000. A trio of Pixar business cards for Jobs is listed at between $2,000 and $3,000.

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Business Tech Lite

Steve Jobs awarded posthumous Medal of Freedom

The co-founder and former CEO of tech giant Apple Steve Jobs will get the Presidential Medal of Freedom posthumously on July 7 at the White House by US President Joe Biden…reports Asian Lite News

Biden named 17 recipients of the Presidential Medal of Freedom, and the late tech honcho in one of them.

“These 17 Americans demonstrate the power of possibilities and embody the soul of the nation — hard work, perseverance, and faith,” the White House said in a statement.

“They have overcome significant obstacles to achieve impressive accomplishments in the arts and sciences, dedicated their lives to advocating for the most vulnerable among us, and acted with bravery to drive change in their communities…” it added.

The Presidential Medal of Freedom is the Nation’s highest civilian honor, presented to individuals who have made exemplary contributions to the prosperity, values, or security of the US, world peace, or other significant societal, public or private endeavours.

Steve Jobs, who died on October 5, 2011, was the co-founder, chief executive, and chair of Apple, Inc., CEO of Pixar and held a leading role at the Walt Disney Company.

His vision, imagination and creativity led to inventions that have, and continue to, change the way the world communicates, as well as transform the computer, music, film and wireless industries.

The co-founder and former CEO of tech giant Apple Steve Jobs will get the Presidential Medal of Freedom posthumously on July 7 at the White House by US President Joe Biden.

Biden named 17 recipients of the Presidential Medal of Freedom, and the late tech honcho in one of them.

“These 17 Americans demonstrate the power of possibilities and embody the soul of the nation — hard work, perseverance, and faith,” the White House said in a statement.

“They have overcome significant obstacles to achieve impressive accomplishments in the arts and sciences, dedicated their lives to advocating for the most vulnerable among us, and acted with bravery to drive change in their communities…” it added.

The Presidential Medal of Freedom is the Nation’s highest civilian honor, presented to individuals who have made exemplary contributions to the prosperity, values, or security of the US, world peace, or other significant societal, public or private endeavours.

Steve Jobs, who died on October 5, 2011, was the co-founder, chief executive, and chair of Apple, Inc., CEO of Pixar and held a leading role at the Walt Disney Company.

His vision, imagination and creativity led to inventions that have, and continue to, change the way the world communicates, as well as transform the computer, music, film and wireless industries.

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