Intel Had To Pay Qualcomm $25 Million To Steal This Silicon Valley Baller, Here’s Why He Thinks Intel Is The Future
Before we get to why Venkata “Murthy” Renduchintala believes that Intel holds the keys to the future can we just take a moment and think about how one company (Intel) paid another company (Qualcomm) $25 MILLION just to poach a single employee. This guy was worth more to Intel than paying $1m to 25 employees, or $100,000 for 250 employees. They dropped twenty five mil just for the ability to hire him, that’s how much of a baller this guy is and how much Intel believes him in.
Now that we’ve established that this dude has the Biggest Swinging Richard in Silicon Valley let’s talk about why HE wanted to leave Qualcomm for Intel, and why he’s betting his future on Intel…and it wasn’t because he wanted the most asinine title in all of tech: President of Intel’s Client and Internet of Things (IoT) Businesses and Systems Architecture Group. In a blog post yesterday Dr. Venkata “Murthy” Renduchintala shared his thoughts on ‘Winning In A Truly Connected World’, and this is one of the first times he’s spoken publicly since leaving Qualcomm:
Today, connectivity is defined by people connecting to other people and to the cloud primarily through mobile devices — smartphones, PCs, tablets and the like. In the future we will add more than 50 billion smart and connected devices, machines, autonomous vehicles, buildings and cities. These devices will be always on and connected, and demand the greatest data bandwidth possible. In turn, these “things” will deliver new data-rich services and cloud apps to users, fueling Intel’s virtuous cycle of growth that Brian Krzanich outlined two weeks ago.
This is a revolution of expectations as much as it is capabilities.
These devices — individually and collectively — will push the multiples of data to the cloud well beyond what we know today. Consider a mapping drone that pushes 20Gb/min of data to the cloud. No human being can create 20Gb/min of data today! Imagine streets full of autonomous vehicles, all connected and talking to each other, to the crosswalk and traffic light signals, and the smart city around them for real-time insight and action. The volume of data is massive and it will continue to grow as more machines and devices come online.
All of this will put unprecedented demands on today’s networks, and require a new generation of technology that can serve a far broader set of devices, volumes of data and human need for connectedness. 5G is the inflection point from network needs driven largely by PCs and smartphones to an entirely new platform that connects a broad range of “things” to each other, to people and to the cloud.
With this, standards will evolve dramatically. We’re defining standards and developing technologies for next-generation software-defined networks that are more cost-effective, efficient and scalable. Our deep collaboration with industry leaders from device manufacturers to network operators will fuel the transition to 5G.
I’m not sure what this dude is getting paid at Intel, but at Qualcomm his reported annual earnings were $13,830,119. That’s nearly $14 million a year that someone was paying him to make sure his company is working towards to future and dominating the Internet of things. I have to imagine that Intel’s paying him even more because they dropped $25 million just for the rights to hire him. So when this dude says that Intel’s strategically poised to dominate the ‘Internet of Things’ and act as the world’s catalyst to 5G transition, well all I hear is that I need to dump my life’s savings into Intel stock…What do you bros think?
Also, you can read his blog post in full here. What you see above is just an excerpt.