Great story from Heidi Roizen. I'm glad Heidi made this deal work: WriteNow was amazing, and was one of the reasons I stuck with the Mac through the dark times.
Shortly into my pitch, Steve took the contract from me and scanned down to the key term, the royalty rate. I had pitched 15%, our standard. Steve pointed at it and said, “15%? That is ridiculous. I want 50%.” I was stunned. There was no way I could run my business giving him 50% of my product revenues. I started to defend myself, stammering about the economics of my side of the business. He tore up the contract and handed me the pieces. “Come back at 50%, or don’t come back,” he said.