"... "Vaporware" was coined by a Microsoft engineer in 1982 to describe the company's Xenix operating system, and first appeared in print in a newsletter by entrepreneur Esther Dyson in 1983. It became popular among writers in the industry as a way to describe products they felt took too long to be released. InfoWorld magazine editor Stewart Alsop helped popularize it by lampooning Bill Gates with a Golden Vaporware award for the late release of his company's first version of Windows in 1985.

Vaporware first implied intentional fraud when it was applied to the Ovation office suite in 1983; the suite's demonstration was well received by the press, but the product was never released. ..."