Ronald Wayne left Apple 12 days after founding it

On April 12, 1976, Apple hit one of the first turning points in its history. Ronald Wayne, who had co-founded Apple Computer with Steve Jobs and Steve Wozniak on April 1, formally withdrew from the partnership less than two weeks later, giving up his stake in what was still a tiny California startup built around a single homemade computer.

Apple was still an Apple-1 startup

At that stage, Apple was not a consumer electronics powerhouse, and it was nowhere near the iPhone era that people often jump to. The company existed to sell Wozniak’s Apple-1, a single-board computer designed for hobbyists. The Computer History Museum says Jobs saw a chance to turn Wozniak’s design into a business after The Byte Shop placed an order for 50 assembled machines, a deal that helped push the pair into forming Apple in the first place. About 200 Apple-1 boards were sold before Apple moved on to the far more successful Apple II.

Wayne’s part in Apple’s first days was real, even if it was brief

Wayne’s short time at Apple has turned him into a footnote in popular retellings, but he was not just a ceremonial third name on the paperwork. He was part of the original partnership that launched Apple Computer, helping establish the company at a moment when Jobs and Wozniak were focused on getting the product built and sold. That role did not last long, but it mattered in the company’s first days.

He left because the risk looked too high

Wayne’s decision to leave was not really about missing Apple’s potential. It was about exposure. Under the partnership structure, he could have been personally on the hook if the new business ran into debt or legal trouble. TIME’s account says an amendment filed on April 12 removed Wayne as a partner and shifted his obligations to Jobs and Wozniak in exchange for $800; he later received another $1,500.

That is what makes April 12 such a memorable date in Apple history. On one side was Wozniak’s Apple-1, Jobs’ instinct for turning it into a business, and a startup just beginning to find its footing. On the other hand, Wayne was looking at the same company and deciding the personal risk was not worth it. In hindsight, it became one of tech’s most famous what-if stories. At the time, it was simply a co-founder stepping away before Apple became Apple.