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PARC benefited from a glut of talent—a direct consequence of the winding down of the Apollo program, which led to job cuts at aerospace companies and a tougher job market for PhDs in hard-science fields. This provided PARC with access to a bumper crop of smart scientists. Meanwhile, Xerox’s continued profitability gave the group the budget necessary to explore ideas that might have long-term payoffs.
Boom: Bubbles and the End of Stagnation
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