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>> more than 24,000 retail outlets across america now rent or sell tapes of all kinds. >> you go to a video store and pick something out that you missed. in the old days, if you missed a movie, you'd miss the movie. >> and the market's not restricted to blockbuster films. jane fonda through her workout tapes has shown one can make money with a product geared specifically to the home video market. >> the success of camcorders marks the second phase of the video revolution. not just taking movies home but making them at home. and anywhere else you happen to go. >> i was the kid who had a camcord...

Three-quarters of the market. this personal computer costs about $1,400 and fits nicely on a desk corner. duplicating its performance just five years ago would have cost $75,000 and involve a unit the size of a large refrigerator. >> when the average american thought computer, they thought ibm. it made these mainframe computers that ran pretty much everything. >> ibm was one of the most powerful corporations in america. and in technology, it was the most powerful company that had ever existed in technology. >> because of this activity in personal computers, it started to make ibm look like it ...

It is much more chaotic. things rise and bubble and fall back and great ideas pop out, but nobody can find a use for it so it goes away. it is a confluence of developments happening at the right time. >> small and portable for the 90s, according to manufacturers showing wares in chicago. sony has a new camcorder that fits in your hand and a combination tv and vcr that goes into your purse or briefcase. >> if you have one of these and you have one of these, you do not have one of these, you are missing half the fun of owning a computer. this is a modem and with it you can turn your computer int...

Operating system for your pc, and we'll get a cut of every machine you sell. and in addition, he made sure that it was not an exclusive license. that he was going to be able to sell this software to ibm, but he was also going to be able to sell the same software to the other people. because gates intuited that there were going to be people that would build knockoffs of ibm and the pc clones. >> it was a genius move on the part of bill gates, who was still in his early 20s when he made this decision. and you've got these guys at ibm in their blue shirts and dark ties looking at this company mic...

>> there was a lot of this kind of revolutionary thing with a lot of the technical people who were into the changes in technology and how we were a part of it. even though at our companies we were generally the fringe element. we had the jeans and we're not the managers and the leaders. but boy, just a clever design on its own had value. >> you had these guys like steve jobs and steve wozniak and bill gates and paul allen who'd been messing around on the edges of what would become the personal computer industry. but no one in corporate america and no one in most of the homes of america thought...