Tim Gill founded Quark in 1981, which built the world's most popular enterprise publishing software and held 90% of the market share at its peak. After selling all his shares in Quark for $500 million in 2000, Tim became one of the wealthiest 400 people in America and the single largest individual donor to the LGBT rights movement in US history. On this episode of the Startup Exits Podcast, we chat with Tim about: • Early days of word processors. • Cost of shipping updates in the 80s & 90s. • Bringing in an external CEO. • Founders leaving the company. • How Tim negotiated to be bought out for $500 million. • Startups in the 80s vs now. • How to spend capital and control burn rate. • Current state of home automation. • Future of smart homes. Tim now runs Josh.ai, a voice-controlled home automation startup. He’s also the founder of the Gill Foundation, a philanthropic organization supporting the LGBT community in the US.  Startup Exits is brought to you by StartupSoft. New episodes on the 15th of every month, subscribe for more.