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• Steve Jobs faked full signal strength and swapped devices during the first iPhone demo due to fragile prototypes and bug-riddled software.
• Engineers got drunk during the presentation to calm their nerves.
• Despite the challenges, Jobs successfully completed the 90-minute demonstration without any noticeable issues.
This, all they look for is a poc to prove that its possible then they can sell that to fund the actual development
Apple had already done 30 years of development (starting with ARM and NeXT) when he did this keynote, and the product shipped a few months later. It might have been barely ready for the demo - but it wasn’t that far off.