Welcome to Cultural Assets Insider. We use Moneyball tactics to discover undervalued, mispriced, and hidden gems in Fractional Investing.
Today is a deep dive into 1976 Apple I Computer that will IPO on Rally noon EST 23rd April 2021.
Table of Contents
What is the 1976 Apple I Computer
This is one of the original 200 Apple I computers produced, all of which were built by Steve Wozniak (who has signed the box). Woz signed it at a UCLA (Go Bruins) alumni event.
Around 63 of these computers still exist, and only six have been verified to be in working condition.
You can view a list of all known existing Apple I computers here.
There were two batches of these computers produced — the first batch in April 1976, and the second batch in the second half of the year. This is from the second batch.
You can also watch Corey Cohen lovingly restore the machine via time lapse here.
It IPOs on Rally 23rd April at noon EST for $825k and no retained equity.
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Cultural Relevance
It’s difficult to overstate the cultural relevance of Apple. The company’s market cap ($2.23T) is bigger than the GDP of all but seven countries and represents nearly 3% of total global GDP. The three countries just below Apple are Brazil, Italy, and Canada.
Its market cap exceeds the cost of all American wars save World War 2 (data as of 2010).
The company has sold more than 1.3 billion iPhones. Their numbers are staggering.
As for the Apple I itself, it paved the way for everything above, and its value as both a cultural icon and collectable is undeniable.
Of the 63 computers still known to exist, eleven are in museums.
- American Computer & Robotics Museum in Bozeman, Montana
- Computer History Museum in Mountain View, California
- Computer Museum of America in Roswell, Georgia
- Pavek Museum of Broadcasting in St. Louis Park, Minnesota
- Smithsonian Museum of American History in Washington, DC
- Living Computers: Museum + Labs in Seattle, Washington
- System Source Computer Museum in Hunt Valley, Maryland
- Powerhouse Museum in Sydney, New South Wales
- Science Museum, London in London, United Kingdom
- Nexon Computer Museum in Jeju Island, South Korea
- ENTER Computer Museum in Solothurn, Switzerland
Watch this guy lose his sh-t getting his Apple I up and running.
If you’d like to boot up your very own Apple I, you can do that via an emulator here.
As this was Steve Wozniak’s baby, we need to factor in his relevance here as well. And unfortunately, Steve Wozniak just isn’t nearly as big a deal as Steve Jobs is.
So Woz actually drags down the cultural relevance score a bit.
Points – 7/10
Inferred Value – $600k +
[Detailed Valuation Available to Insiders Only]
Category Strength
The cultural items category returned a 46% ROI in Q1 2021.
Subcategory Strength
Risk Profile
Recent Growth Trend
Growth Outlook and Future Catalysts
Over time, more and more of these will be snapped up by museums or collectors who will never let them go. Also, more and more Bitcoin and other geeky types are getting very wealthy. Supply is going down, demand is going up.
Asset Liquidity
This will have a roughly 90 day lockup period then will trade quarterly.
Platform Risk
Intangibles
This is undeniably the sort of thing fractional marketplaces were made for, and Rally is marketing the heck out of it.
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