Alvy Ray Smith
Smith and Catmull co-founded Pixar in 1986 with financing from Steve Jobs. After the spinout from Lucasfilm of Pixar, he served on the board of directors and was executive vice president. According to the Steve Jobs biography "iCon" by Jeffrey S. Young and William L. Simon, Alvy Ray quit Pixar after a heated argument with Jobs over use of a whiteboard. It was an unwritten rule that none other than Jobs was allowed to use it, a rule Smith decided to break in front of everyone after Jobs went "total street bully" on him and they ended up screaming into each other's face "in full bull rage". Despite being the co-founder of Pixar, Young and Simon claim that the company has largely overlooked his part in company history since his departure. For example, there is no mention of Smith on the Pixar website.
Pixar
The newly independent Pixar (1986) was headed by Edwin Catmull as President and Alvy Ray Smith as Executive Vice President. While looking for investors, Steve Jobs showed interest, but initially Lucas found his offer too low. Yet he eventually accepted after it turned out to be impossible to find other investors. At that point Smith and Catmull had been turned down 45 times; thirty-five venture capitalists and 10 large corporations had declined. Jobs, who had recently been fired from Apple, and was now founder and CEO of the new computer company NeXT, paid $5 million of his own money to George Lucas for technology rights and invested $5 million cash as capital into the company, joining the board of directors as chairman.