"In Silicon Valley the Volkswagen bus is legendary. Steve Jobs sold his hippie wheels for $1,300 in 1976 to buy parts for the Apple I.Before Jobs there was Mike Sinyard, a ponytailed graduate of San Jose State. He was suffering an identity crisis. “I didn’t want a business career. White shirts and ties were not for me.”
So in 1974 Sinyard sold his VW bus and bicycled around Europe. In Italy he saw his future: Cinelli bike parts–handlebars and stems that were hard to get in America. Sinyard moved back to the States and began importing Cinelli parts, marking them up 10% to 15%.
When did you start making your own branded Specialized products? “We started with tires in 1976. In 1979 we built our first bike, the Allez. We manufactured the frame in Japan. I fell in love with Japanese precision and quality. That was a real education for me. It has inspired Specialized’s approach to bike building ever since. The Japanese way starts with honor and integrity.”"
Excerpt from Mike Sinyard's interview for Forbes Magazine
http://www.forbes.com/forbes/2011/0523/opinions-rich-karlgaard-innovation-rules-hippie-capitalist.html