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| {{Short description|American Inventor, manufacturer (born 1948)}} | |||
| {{Good article}} | |||
| {{Infobox person | {{Infobox person | ||
| | name = Noel Lee | | name = Noel Lee | ||
| | image = | | image = | ||
| | caption = Noel Lee in front of spools of Monster cable | | caption = Noel Lee in front of spools of Monster cable | ||
| | birth_date = |
| birth_date = {{Birth date and age|1948|12|25}} | ||
| | birth_place = |
| birth_place = ], ]<br /> ] | ||
| | occupation = CEO of Monster Inc. | | occupation = CEO of ] | ||
| | nationality = ] | | nationality = ] | ||
| | alma_mater = ]<br />] | |||
| | alma_mater = | |||
| ⚫ | }} | ||
| ⚫ | |||
| '''Noel Lee''' (born December 25, 1948) is an American ], inventor, and ]. He is the founder and CEO of ] | |||
| ⚫ | Lee graduated from ] with a bachelor's degree in ] and subsequently did work in ] for the ]. He quit his engineering job in 1974 to play drums for a ] band. After the band separated, he founded Monster Cable Products in 1979, based on loudspeaker cables he invented and manufactured in his garage. | ||
| Lee's audio cables met resistance at first, because most audio cabling at the time was |
Lee's audio cables met corporate resistance at first, because most audio cabling at the time was ] provided by audio vendors for free. Sales improved as retailers witnessed audio demonstrations and saw that his Monster-branded cables offered better profit margins than other electronics products. Lee is credited with building the Monster business and shaping today's audio components market. | ||
| == Early life == | == Early life == | ||
| Noel Lee was born in ] on December 25, 1948<ref name=Hirahara/> to Chein-San and Sarah Lee.<ref name=Hirahara/> His parents named him "Noel" because he was born on Christmas Day.<ref name="last"/> His father worked for China's Central News Agency and Lee had four sisters. Lee's parents moved to San Francisco around the same time the ] took power.<ref name=Hirahara>{{cite book|last=Hirahara|first=Naomi|title=Distinguished Asian American Business Leaders|year=2003|publisher=Greenwood Publishing Group|isbn=9781573563444|url=https://books.google.com/books?id=fN7_zps2kQUC&pg=PA123}}</ref><ref name="usa"/> | |||
| Lee took an interest in music as a child; he described himself as having a more diverse taste in music than other kids his age.<ref name="cal"/> Lee's senior project was an effort to improve the quality of audio from electronics.<ref name="cal">{{citation|publisher=Cal Poly|url=http://digitalcommons.calpoly.edu/cgi/viewcontent.cgi?article=1401&context=calpoly_magazine|title=Head Monster is Mad About Music|first=Joanne|last=Eglash|access-date=February 26, 2013}}</ref> According to Lee, his high school experiences were "rough" due to the level of discrimination against Asian-Americans at the time.<ref name=Hirahara/> Lee attended ], then ], where he earned a degree in mechanical engineering in 1971.<ref name="sfgate"/> | |||
| == |
== Engineer and drummer == | ||
| Noel Lee's first job out of college was as a laser fusion design engineer at a government-run nuclear research center called the ].<ref name=Hirahara/><ref name="usa"/> On nights and weekends he played drums for an Asian country rock cover band called Asian Wood and worked on his home audio equipment.<ref name=Hirahara/> | |||
| In 1974, Asian Wood was given an opportunity to go on a world tour. Lee quit his job as an engineer in order to be the band's drummer.<ref name=Hirahara/><ref name="sfgate"/> Asian Wood's members moved to ] to start their tour, but it was cancelled two weeks later. The promoter wanted a straight rock band without country influences.<ref name="Pederson2005"/> This left Lee and his family stranded in Hawaii until they could earn money for travel back home.<ref name=Hirahara/> The band reinvented itself, covering ] popular songs in order to attract work. Asian Wood took on other gigs around Hawaii for 18 months before breaking up.<ref name="Pederson2005"/> Lee continued doing solo gigs for six months after that, before returning to the Bay Area for an engineering job with ].<ref name="sfgate"/> He also worked as an independent salesperson for several small speaker companies in San Francisco.<ref name=Hirahara/> | |||
| After graduating in 1971, Noel Lee's first job was at ], a government nuclear research center,<ref name="usa"/> where he was awarded a patent for his technique to position 15-micron beads of glass that were used in ].<ref name="asia">{{cite news|title=The Cable Guy's Monster Attitude|newspaper=Asian American Business|url=http://business.goldsea.com/Leen/leen2.html}}</ref> He was exposed to toxic doses of radiation at the Lawrence Livermore National Laboratory, which caused a degenerative nerve disorder that prevents him from walking without a wheelchair or Segway.<ref name="usa">{{cite news|first=Michelle|last=Kessler|newspaper=USA Today|url=http://usatoday30.usatoday.com/money/industries/technology/2005-01-16-monster-usat_x.htm|accessdate=February 26, 2013|date=January 16, 2005|title=Monster move puts name on Marquee}}</ref><ref name="sfgate"/> | |||
| ⚫ | == Monster == | ||
| In 1972, Lee quit his job as an engineer to play drums for a country-rock cover band called Asian Wood.<ref name="sfgate"/><ref name="two">{{cite|url=http://goldsea.com/Personalities/Surprising/surprising3.html|title=Noel Lee: Founder/CEO of Monster Cable|accessdate=February 26, 2013|newspaper=Goldsea Asian American}}</ref> The band moved to ] for a job, but due to a misunderstanding about the type of music they played, they were fired. The band learned more popular songs and continued working in Hawaii for a year and a half at bars and hotels.<ref name="asia"/><ref name="two"/> After the band broke up, Lee continued doing solo gigs for six months, before returning to the Bay Area for an engineering job with ].<ref name="sfgate"/> He wanted to improve the audio from his equipment. Lee didn't have very much money, so he experimented with ways to create a better sound by improving inexpensive cabling at home.<ref name="usa"/><ref name="Pederson2005">{{cite book|author=Jay P. Pederson|title=International Directory of Company Histories|url=http://books.google.com/books?id=Odq6AAAAIAAJ|accessdate=26 February 2013|date=29 April 2005|publisher=Gale|isbn=9781558625440}}</ref> According to Lee, the work at Lawrence Berkeley was boring,<ref name="asia"/><ref name="two"/> and he quit six months later.<ref name="sfgate"/> | |||
| Noel Lee is credited with turning the audio cable market into a "profitable ]"<ref name="sfgate"/> and with changing the consumer mindset to see audio cables as a way to improve sound quality.<ref name="hifi">{{cite news|title=Wired for Sound|date=February 2008|newspaper=HiFi News|first=Paul|last=Miller}}</ref> He was awarded the Plus X Lifetime Achievement Award for his role in shaping a market and was named Northern California Entrepreneur of the Year by ].<ref name="last"/><ref name="cal"/><ref name="ast2">{{cite news|title=Monster Cable|first=Steve|last=Guttenberg|date=July 3, 2012|access-date=March 20, 2013|newspaper=Home Theater|url=http://www.hometheater.com/content/monster-cable}}</ref> The company he founded became a household name<ref name=Hirahara/> and market-share leader. Monster does not disclose its financials, but industry analysts estimate the company is "hugely profitable."<ref name="usa"/> Lee calls himself the "Head Monster" and calls the company culture the "Monster Attitude." The company, while still best known for audio wiring, now carries 6,000 different products, such as headphones and home theater components.<ref name="last">{{cite news|newspaper=Vision|url=http://www.ce.org/i3/VisionArchiveList/VisionArchive/2010/November/Monster%E2%80%99s-Noel-Lee%E2%80%94Down-to-the-Cable.aspx|date=November–December 2010|title=Monster's Noel Lee - Down to the Cable|first=Cindy|last=Stevens|access-date=2013-05-09|archive-url=https://web.archive.org/web/20130928151817/http://www.ce.org/i3/VisionArchiveList/VisionArchive/2010/November/Monster%E2%80%99s-Noel-Lee%E2%80%94Down-to-the-Cable.aspx|archive-date=2013-09-28|url-status=dead}}</ref><ref name="sfgate"/> Its products are sold in more than 15,000 stores and it owns over 375 patents.<ref name="last"/><ref name="sfgate"/> Monster became one of the largest employers in the ].<ref name="sfgate"/> | |||
| === Origins === | |||
| In |
In the late 1970s, Noel Lee wanted to improve the sound quality from his home audio equipment. He didn't have very much money, so Lee experimented with ways to create a better sound by improving inexpensive cabling.<ref name="usa"/><ref name="Pederson2005">{{cite book|author=Jay P. Pederson|title=International Directory of Company Histories|url=https://books.google.com/books?id=Odq6AAAAIAAJ|access-date=February 26, 2013|date=April 29, 2005|publisher=Gale|isbn=9781558625440}}</ref> At first he worked out of his family's apartment and later in his in-laws' garage,<ref name=Hirahara/> which they rented from family after moving to the ] district in 1978.<ref name="sfgate"/><ref name="geek">{{cite news|work=Home Theater Geeks|publisher=Secrets of Home Theater and High Fidelity|title=Monster Founder Noel Lee Gets Geeky About Cables|url=http://www.hometheaterhifi.com/video-coverage/video-coverage/onster-founder-noel-lee-gets-geeky-about-cables.html|date=October 12, 2012|first=Scott|last=Wilkinson|access-date=April 5, 2013|archive-url=https://web.archive.org/web/20130403064901/http://www.hometheaterhifi.com/video-coverage/video-coverage/onster-founder-noel-lee-gets-geeky-about-cables.html|archive-date=April 3, 2013|url-status=dead}}</ref> Lee experimented with different widths, winding methods, and qualities of copper and insulation in audio cables<ref name="geek"/><ref name="fortune"/> to find an alternative to the zip cord audio vendors gave out for free.<ref name="sfgate"/><ref name="fortune">{{cite news|first=Will|last=Safer|url=https://money.cnn.com/2009/04/30/smallbusiness/how_monster_cable_got_started.fsb/index.htm|newspaper=Fortune Magazine|date=April 30, 2009|access-date=February 26, 2013|title=How Monster Cable got wired for growth}}</ref> He compared different wire constructs, while listening to Tchaikovsky's ].<ref name="last"/><ref name="fortune"/> | ||
| Lee called the 12-gauge audio cable he created "Monster" due to its size.<ref name=Hirahara/> According to ''Vision Magazine'', the first Monster cable was "a low-resistance twin-axial stranded design."<ref name="last"/> Lee manufactured the cable by hand on a ] table and sold it ].<ref name="sfgate"/><ref name="fortune"/> According to Lee, Pacific Stereo was the first electronics retailer to give him a chance to sell Monster cables in their store.<ref name="fortune"/> | |||
| ⚫ | == Monster == | ||
| Noel Lee founded ] (formerly known as Monster Cable Products) |
Lee spent $50,000 in personal savings to demonstrate the cables at the ] (CES) in Chicago in 1979, using a borrowed portion of someone else's exhibit area.<ref name="geek"/><ref name="adage">{{cite news|title=CES Watch: Monster's Noel Lee to Launch New Lines|first=Stephen|last=Williams|date=December 22, 2011|access-date=February 27, 2013|url=http://adage.com/article/news/ces-watch-monster-s-noel-lee-launch-lines/231732/}}</ref> Lee received a positive response at the event<ref name=Hirahara/> and founded ] (formerly known as Monster Cable Products) later that year.<ref name=Hirahara/> Lee received an order from a Canadian distributor<ref name="fortune"/> for 30,000 cables.<ref name="last"/><ref name="geek"/> The distributor wouldn't pay until the products were shipped,<ref name="fortune"/> so Lee took out a $250,000 bank loan to pay for the production of the cables.<ref name=Hirahara/><ref name="fortune"/><ref>{{cite news|date=September 11, 2005|title=Head Monster|url=http://www.time.com/time/magazine/article/0,9171,1103566,00.html|archive-url=https://web.archive.org/web/20080306130029/http://www.time.com/time/magazine/article/0,9171,1103566,00.html|url-status=dead|archive-date=March 6, 2008|access-date=February 27, 2013|newspaper=TIME Magazine}}</ref> According to Lee, he started the company without business experience or a strategy.<ref name="hifi"/><ref name="ast2"/> | ||
| Lee was met with resistance, because the audio industry at the time didn't believe cables made any appreciable difference in the sound<ref name="usa"/><ref name="geek"/> and wire was generally provided for free.<ref name="last"/> Lee demonstrated the difference between Monster cables and zip cord to convince consumers that expensive equipment was wasted on cheap wiring.<ref name="hifi"/> Sales rose as retailers saw high profit margins selling the cables. Lee provided incentives to retail salespeople to sell the cabling, rather than spend money on advertising. Some critics say this practice creates aggressive salespeople.<ref name="usa"/><ref name="sfgate"/> | |||
| === Establishment and diversification === | |||
| By the next CES, Lee had an order from a Canadian supplier for 30,000 cables.<ref name="geek"/><ref name="last"/> Sales picked up as retailers saw the wiring as an opportunity for higher profit margins. This led Lee to provide incentives to retail salespeople to sell the cabling, rather than spend money on advertising, which led to criticisms that his business model creates aggressive salespeople.<ref name="usa"/><ref name="sfgate"/> Lee wrote a whitepaper called "Life is tough for an audio signal," which was later followed by "Life is tough for an HDMI cable."<Ref>{{cite news|newspaper=Home Theater News|url=http://www.hometheater.com/news/083007monster/|date=August 30, 2007|first=Mark|last=Fleischmann|accessdate=March 20, 2013|title=Monster Brings HDMI Up to Speed}}</ref><ref name="hifi"/> He kept the company private and grew the business.<ref name="sfgate"/> Lee calls himself the "Head Monster" and calls the company culture the "Monster Attitude." The company, while still best known for audio wiring, now carries 6,000 different products, such as headphones and home theater components.<ref name="sfgate"/><ref name="last">{{cite news|newspaper=Vision|url=http://www.ce.org/i3/VisionArchiveList/VisionArchive/2010/November/Monster%E2%80%99s-Noel-Lee%E2%80%94Down-to-the-Cable.aspx|date=November/December 2010|title=Monster's Noel Lee - Down to the Cable|first=Cindy|last=Stevens}}</ref> | |||
| Within six years from when it was founded, Monster had $50 million in annual revenues and 400 employees.<ref name=Hirahara/> The company's growth was primarily due to Monster training sales staff at electronics stores to bundle the cables with other electronics purchases, an effort the company spent 15 percent of its revenues on by 1998.<ref name=Hirahara/> Lee kept the company private and grew the business,<ref name="sfgate"/> despite pressure to go public.<ref name="fortune"/> | |||
| In connection with his background as a musician, Lee founded the record label Monster Music in 1999,<ref name=Hirahara/> signing ]'s daughter ].<ref name="sfgate"/> Monster created numerous divisions as it diversified into other products, such as Monster Performance Car, Monster Game, Monster Photo and Monster Computer.<ref name="cal"/> By 2003, Monster produced more than 1,000 products, including power cords, gaming accessories and cooling products.<ref name=Hirahara/> According to a 2005 ''USA Today'' article, Lee and his company were developing furniture with high-end electronics built-in, wireless products to replace audio cords and a user interface to consolidate the consumer's control of their electronics.<ref name="usa"/> Lee and his son worked with ] and ] to collaborate on the ] brand of headphones, which was later acquired by Apple for $3 billion in 2014. According to Business Insider, Beats Electronics denies that Monster had a role in the design of the headphones.<ref name="insider"/> Lee said Beats had no engineers on staff and it spent millions in research and development to get the product started, but that their contract was poorly constructed, giving all the intellectual property to Beats when it wasn't renewed.<ref name="insider"/> | |||
| Lee is credited with creating a "profitable cottage industry" for audio cable<ref name="sfgate"/> and with changing the consumer mindset to see audio cables as a way to improve audio quality.<reF name="hifi">{{cite news|title=Wired for Sound|date=February 2008|newspaper=HiFi News|first=Paul|last=Miller|url=http://www.monstercable.com/HDMI/pdfs/Article/Noel_Lee_Interview_Hifi_News_0208.pdf}}</ref> He was awarded the Plus X Lifetime Achievement Award for his role in shaping a market and was named Northern California Entrepreneur of the Year by ].<ref name="cal"/><ref name="last"/> | |||
| In 2004, Lee bought the rights to the San Francisco 49ers football stadium, which was renamed to Monster Park. Citizens and local government protested that a public facility adopted a corporate name and a local ballot was passed to revert the stadium name after the four-year deal with Monster |
In 2004, Lee bought the rights to the ] football stadium, which was renamed to Monster Park. Citizens and local government protested that a public facility adopted a corporate name and a local ballot was passed to revert the stadium name after the four-year deal with Monster expired.<ref name="usa"/><ref name="sfgate">{{cite news|first=Benny|last=Evangelista|title='Head Monster's' winning ways|newspaper=San Francisco Chronicle|url=http://www.sfgate.com/bayarea/article/Head-Monster-s-winning-ways-Engineer-spins-2637224.php|date=November 8, 2004|access-date=February 26, 2013}}</ref> The sponsorship was partially contentious due to a recent layoff of 120 local employees.<ref name="fortune"/> | ||
| == Personal life == | |||
| Noel Lee is divorced with two children.<ref name="sfgate"/> His son Kevin Lee, sometimes referred to as "Little Monster",<ref name="sfgate"/> started working for the company<ref name="insider">{{cite news|title=Here's An Interview With The CEO Who Missed Out On The $3.2 Billion Apple-Beats Deal|first=Jillian|last=D'Onfro|date=May 11, 2014|url=http://www.businessinsider.com/monster-misses-in-apple-beats-acquisition-2014-5#ixzz3LSSZt9DN|publisher=Business Insider|access-date=December 9, 2014}}</ref> and developed the M-Design product line of high-tech furniture.<ref name="sfgate"/> Lee's son later quit Monster and started his own audio company ] in 2010.<ref>{{cite news|title=Monster founder's son flies solo with Sol Republic headphones launch|first=David|last=Carnoy |date=August 23, 2011|access-date=March 1, 2015|url=http://www.cnet.com/news/monster-founders-son-flies-solo-with-sol-republic-headphones-launch/|publisher=CNET}}</ref> Lee has a degenerative nerve disorder that prevents him from walking without a wheelchair or Segway, which he says was caused by exposure to toxic doses of radiation when he worked as a fusion engineer at ].<ref name="usa">{{cite news|first=Michelle|last=Kessler|newspaper=USA Today|url=http://usatoday30.usatoday.com/money/industries/technology/2005-01-16-monster-usat_x.htm|access-date=February 26, 2013|date=January 16, 2005|title=Monster move puts name on Marquee}}</ref><ref name="sfgate"/> | |||
| Lee enjoys collecting gadgets and has a collection of old sports cars. He enjoys socialising with musicians and counts ] and ] among his friends.<ref name="sfgate"/> He is a member of the Asian Business League of San Francisco. He donated $75,000 worth of audio cables to the Los Angeles Unified School District.<ref name=Hirahara/> Lee describes his business ethic as "24/7; sleep when you're dead."<ref name="sfgate"/> He lives in Hillsborough, California.<ref name="usa"/> Lee is also known for throwing large parties at the Consumer Electronics Show and spending time with celebrities at the event.<ref name="adage"/> | |||
| == References == | == References == | ||
| Line 42: | Line 57: | ||
| == External links == | == External links == | ||
| * {{ |
* {{citation|first=Noel|last=Lee|title=Life is tough for an HDMI cable|url=http://www.monstercable.com/HDMI/pdfs/Life_is_Tough_for_HDMI_Cable.pdf|publisher=Monster}} | ||
| * NAMM Oral History Library (2020) | |||
| {{Persondata | |||
| | NAME =Lee, Noel | |||
| {{Authority control}} | |||
| | ALTERNATIVE NAMES = | |||
| | SHORT DESCRIPTION = Inventor, manufacturer | |||
| | DATE OF BIRTH = December 25, 1948 | |||
| | PLACE OF BIRTH = USA | |||
| | DATE OF DEATH = | |||
| | PLACE OF DEATH = | |||
| ⚫ | }} | ||
| {{DEFAULTSORT:Lee, Noel}} | |||
| ] | ] | ||
| ] | ] | ||
| ] | ] | ||
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Latest revision as of 20:28, 2 August 2024
American Inventor, manufacturer (born 1948)
| Noel Lee | |
|---|---|
| Born | (1948-12-25) December 25, 1948 (age 76) San Francisco, California United States |
| Nationality | American |
| Alma mater | San Francisco City College California Polytechnic State University |
| Occupation | CEO of Monster Inc. |
Noel Lee (born December 25, 1948) is an American engineer, inventor, and businessman. He is the founder and CEO of Monster Inc.
Lee graduated from California Polytechnic State University with a bachelor's degree in mechanical engineering and subsequently did work in laser fusion for the Lawrence Livermore National Laboratory. He quit his engineering job in 1974 to play drums for a country rock band. After the band separated, he founded Monster Cable Products in 1979, based on loudspeaker cables he invented and manufactured in his garage.
Lee's audio cables met corporate resistance at first, because most audio cabling at the time was zip cord provided by audio vendors for free. Sales improved as retailers witnessed audio demonstrations and saw that his Monster-branded cables offered better profit margins than other electronics products. Lee is credited with building the Monster business and shaping today's audio components market.
Early life
Noel Lee was born in San Francisco, California on December 25, 1948 to Chein-San and Sarah Lee. His parents named him "Noel" because he was born on Christmas Day. His father worked for China's Central News Agency and Lee had four sisters. Lee's parents moved to San Francisco around the same time the Communist party took power.
Lee took an interest in music as a child; he described himself as having a more diverse taste in music than other kids his age. Lee's senior project was an effort to improve the quality of audio from electronics. According to Lee, his high school experiences were "rough" due to the level of discrimination against Asian-Americans at the time. Lee attended San Francisco City College, then California Polytechnic State University, where he earned a degree in mechanical engineering in 1971.
Engineer and drummer
Noel Lee's first job out of college was as a laser fusion design engineer at a government-run nuclear research center called the Lawrence Livermore National Laboratory. On nights and weekends he played drums for an Asian country rock cover band called Asian Wood and worked on his home audio equipment.
In 1974, Asian Wood was given an opportunity to go on a world tour. Lee quit his job as an engineer in order to be the band's drummer. Asian Wood's members moved to Hawaii to start their tour, but it was cancelled two weeks later. The promoter wanted a straight rock band without country influences. This left Lee and his family stranded in Hawaii until they could earn money for travel back home. The band reinvented itself, covering Top 40 popular songs in order to attract work. Asian Wood took on other gigs around Hawaii for 18 months before breaking up. Lee continued doing solo gigs for six months after that, before returning to the Bay Area for an engineering job with Lawrence Berkeley National Laboratory. He also worked as an independent salesperson for several small speaker companies in San Francisco.
Monster
Noel Lee is credited with turning the audio cable market into a "profitable cottage industry" and with changing the consumer mindset to see audio cables as a way to improve sound quality. He was awarded the Plus X Lifetime Achievement Award for his role in shaping a market and was named Northern California Entrepreneur of the Year by Ernst & Young. The company he founded became a household name and market-share leader. Monster does not disclose its financials, but industry analysts estimate the company is "hugely profitable." Lee calls himself the "Head Monster" and calls the company culture the "Monster Attitude." The company, while still best known for audio wiring, now carries 6,000 different products, such as headphones and home theater components. Its products are sold in more than 15,000 stores and it owns over 375 patents. Monster became one of the largest employers in the Bay Area.
Origins
In the late 1970s, Noel Lee wanted to improve the sound quality from his home audio equipment. He didn't have very much money, so Lee experimented with ways to create a better sound by improving inexpensive cabling. At first he worked out of his family's apartment and later in his in-laws' garage, which they rented from family after moving to the Richmond district in 1978. Lee experimented with different widths, winding methods, and qualities of copper and insulation in audio cables to find an alternative to the zip cord audio vendors gave out for free. He compared different wire constructs, while listening to Tchaikovsky's 1812 Overture.
Lee called the 12-gauge audio cable he created "Monster" due to its size. According to Vision Magazine, the first Monster cable was "a low-resistance twin-axial stranded design." Lee manufactured the cable by hand on a ping pong table and sold it door-to-door. According to Lee, Pacific Stereo was the first electronics retailer to give him a chance to sell Monster cables in their store.
Lee spent $50,000 in personal savings to demonstrate the cables at the Consumer Electronics Show (CES) in Chicago in 1979, using a borrowed portion of someone else's exhibit area. Lee received a positive response at the event and founded Monster, Inc. (formerly known as Monster Cable Products) later that year. Lee received an order from a Canadian distributor for 30,000 cables. The distributor wouldn't pay until the products were shipped, so Lee took out a $250,000 bank loan to pay for the production of the cables. According to Lee, he started the company without business experience or a strategy.
Lee was met with resistance, because the audio industry at the time didn't believe cables made any appreciable difference in the sound and wire was generally provided for free. Lee demonstrated the difference between Monster cables and zip cord to convince consumers that expensive equipment was wasted on cheap wiring. Sales rose as retailers saw high profit margins selling the cables. Lee provided incentives to retail salespeople to sell the cabling, rather than spend money on advertising. Some critics say this practice creates aggressive salespeople.
Establishment and diversification
Within six years from when it was founded, Monster had $50 million in annual revenues and 400 employees. The company's growth was primarily due to Monster training sales staff at electronics stores to bundle the cables with other electronics purchases, an effort the company spent 15 percent of its revenues on by 1998. Lee kept the company private and grew the business, despite pressure to go public.
In connection with his background as a musician, Lee founded the record label Monster Music in 1999, signing Van Morrison's daughter Shana. Monster created numerous divisions as it diversified into other products, such as Monster Performance Car, Monster Game, Monster Photo and Monster Computer. By 2003, Monster produced more than 1,000 products, including power cords, gaming accessories and cooling products. According to a 2005 USA Today article, Lee and his company were developing furniture with high-end electronics built-in, wireless products to replace audio cords and a user interface to consolidate the consumer's control of their electronics. Lee and his son worked with Dr. Dre and Jimmy Iovine to collaborate on the Beats brand of headphones, which was later acquired by Apple for $3 billion in 2014. According to Business Insider, Beats Electronics denies that Monster had a role in the design of the headphones. Lee said Beats had no engineers on staff and it spent millions in research and development to get the product started, but that their contract was poorly constructed, giving all the intellectual property to Beats when it wasn't renewed.
In 2004, Lee bought the rights to the San Francisco 49ers football stadium, which was renamed to Monster Park. Citizens and local government protested that a public facility adopted a corporate name and a local ballot was passed to revert the stadium name after the four-year deal with Monster expired. The sponsorship was partially contentious due to a recent layoff of 120 local employees.
Personal life
Noel Lee is divorced with two children. His son Kevin Lee, sometimes referred to as "Little Monster", started working for the company and developed the M-Design product line of high-tech furniture. Lee's son later quit Monster and started his own audio company Sol Republic in 2010. Lee has a degenerative nerve disorder that prevents him from walking without a wheelchair or Segway, which he says was caused by exposure to toxic doses of radiation when he worked as a fusion engineer at Lawrence Livermore National Laboratory.
Lee enjoys collecting gadgets and has a collection of old sports cars. He enjoys socialising with musicians and counts Carlos Santana and George Benson among his friends. He is a member of the Asian Business League of San Francisco. He donated $75,000 worth of audio cables to the Los Angeles Unified School District. Lee describes his business ethic as "24/7; sleep when you're dead." He lives in Hillsborough, California. Lee is also known for throwing large parties at the Consumer Electronics Show and spending time with celebrities at the event.
References
- ^ Hirahara, Naomi (2003). Distinguished Asian American Business Leaders. Greenwood Publishing Group. ISBN 9781573563444.
- ^ Stevens, Cindy (November–December 2010). "Monster's Noel Lee - Down to the Cable". Vision. Archived from the original on 2013-09-28. Retrieved 2013-05-09.
- ^ Kessler, Michelle (January 16, 2005). "Monster move puts name on Marquee". USA Today. Retrieved February 26, 2013.
- ^ Eglash, Joanne, Head Monster is Mad About Music, Cal Poly, retrieved February 26, 2013
- ^ Evangelista, Benny (November 8, 2004). "'Head Monster's' winning ways". San Francisco Chronicle. Retrieved February 26, 2013.
- ^ Jay P. Pederson (April 29, 2005). International Directory of Company Histories. Gale. ISBN 9781558625440. Retrieved February 26, 2013.
- ^ Miller, Paul (February 2008). "Wired for Sound". HiFi News.
- ^ Guttenberg, Steve (July 3, 2012). "Monster Cable". Home Theater. Retrieved March 20, 2013.
- ^ Wilkinson, Scott (October 12, 2012). "Monster Founder Noel Lee Gets Geeky About Cables". Home Theater Geeks. Secrets of Home Theater and High Fidelity. Archived from the original on April 3, 2013. Retrieved April 5, 2013.
- ^ Safer, Will (April 30, 2009). "How Monster Cable got wired for growth". Fortune Magazine. Retrieved February 26, 2013.
- ^ Williams, Stephen (December 22, 2011). "CES Watch: Monster's Noel Lee to Launch New Lines". Retrieved February 27, 2013.
- "Head Monster". TIME Magazine. September 11, 2005. Archived from the original on March 6, 2008. Retrieved February 27, 2013.
- ^ D'Onfro, Jillian (May 11, 2014). "Here's An Interview With The CEO Who Missed Out On The $3.2 Billion Apple-Beats Deal". Business Insider. Retrieved December 9, 2014.
- Carnoy, David (August 23, 2011). "Monster founder's son flies solo with Sol Republic headphones launch". CNET. Retrieved March 1, 2015.
External links
- Lee, Noel, Life is tough for an HDMI cable (PDF), Monster
- Noel Lee Interview NAMM Oral History Library (2020)