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That dream never came to be. The reason it didn't is that Bill simply wouldn't take the plunge in terms of doing what had to be done. He wanted to go first class, but he didn't want to pay the bill. In manufacturing, there's just no way you can do it without spending the money and getting the research and product developed. We never saw eye to eye on that operation. We finally went out of it. Took a beating. I think Bill held it against me. Hytron was his baby. The idea was mine. I got tarred with it, and that's all there is to it. Whether we could have done it, I don't know. We certainly turned the recording industry up-side- down through the laboratory. Bill knew nothing about that at all. That was a development that I nurtured behind closed doors. He knew we were doing it. He showed no interest. He wouldn't get on the elevator and go five, maybe ten floors down the building to see the demonstration of the long-playing record. He was utterly indifferent to that side of the company. I mention it only because we took an idea out of the laboratory, and with a little bit of business judgement and promotion and a hell of a good product, and we tore the whole industry apart. Dave [David] Sarnoff had to come talk to us and follow. As he said to me one day at lunch, “The great Victor Talking Machine Company is now reduced to having to talk to that little gramophone company up in Connecticut.” He had nothing but contempt for us as a competitor, but he recognized what we had done. I thought we could do the same thing in television. Bill didn't see it that way. We took our licks and got the hell out of the business.

You're saying part of the problem was lack of money, lack of finances given to research? Could you identify a little more the failure of the television venture? Are you saying that Bill Paley did not commit enough money to the operation to make it work?

It's not just money. He didn't commit himself. I was committed. If he had stayed