How East Coast mentality killed Fairchild Semi because of stock options

[timelets]

AR: Well, Fairchild Camera and Instrument was a company that was located in Syosset, New York. It's in Long Island. And it had, other than, when Sherman died the attitude changed a bit. They had a very, what I call an Eastern mentality in that they didn't want anybody to have any options in stock and the eight entrepreneurs who started Fairchild Semiconductor decided individually and together that they would gradually peel off and, and form their own enterprises because they couldn't get any more equity in, and a lot of the people there felt that they should be giving equity to some of the people who had, hadn't helped start the company but were instrumental in its, in its success. And Fairchild Camera and Instrument were, was unwilling to do that. So gradually they peeled off and finally by 1968 there were only Noyce and Moore left.

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