He initially invested in Time, however, because of its cable and home-video businesses.
Thus an investor can link himself to a company without initially investing any money.
Pepsico will initially invest $17 million and be a minority partner.
The companies said they would initially invest $25 million in the venture.
Softbank, which initially invested $20 million, became one of its biggest backers.
Apple will initially invest $30,000, according to the agreement, which was signed on Wednesday.
So an investor would have only $9,910 to invest initially.
Chodorow initially invested $4 million in the restaurant and claims to have lost an additional $700,000.
The Clintons initially invested $23,200 less than the other couple did.
Microsoft will initially invest $25 million over five years.