Our organization is inspired by George Hatsopoulos and his company, Thermo Electron.
Like most technology companies, Thermo Electron’s main assets were some intellectual property and some core competencies about that property. Like most technology companies, Thermo had lots of bright people who kept coming up with new ideas for new ways to apply those assets and competencies in new markets and new applications.
Unlike almost all other technology companies, Thermo actually succeeded in pursuing most of those good ideas for new markets bubbling up from within the enterprise.
As is typical when someone in such a company presents an idea to the CEO, George Hatsopoulos would ask the brainstormer to write up a plan and submit it to him. The Hatsopolous difference was in what was done with the plans. Most companies either put the plans in a file labeled something like “ideas to pursue when we have the time and resources,” or else they attempt to implement them as “intraprises,” effectively new operating units within the company, adding new complexity to the organization chart.
Whether the plan gets put aside or an intraprise is attempted, the result is typically the same: the brainstormer and his or her team gets frustrated and quits, often trying to pursue the plan in their own startup, in which case litigation often ensues.
Here’s what Dr. Hatsopoulos did differently. If he thought the plan was good, he’d tell the brainstormer: We are going to fund a new company. You will be its CEO. We will license our technology to your new company, we will provide engineering services to your new company, we will be its venture capitalist, bank, landlord, law firm, and ad agency.
But it will be your company to run. As your venture capitalist we expect to own a high majority stake in your company, but you and your team members will also own a stake. You may pursue your markets as you see fit, and when you are successful you may take the company public, which can make you wealthy.
The results were amazing. At one time about twenty Thermo spinoff companies listed on the New York Stock Exchange. They were typically named Thermo-this and Thermo-that and collectively the Thermo companies gained market share in all parts of the scientific instrumentation industry.
Analysis has shown that Dr. Hatsopoulos is responsible for the creation of more economic value than Thomas Edison
In addition to the plans we have generated internally, we hope to generate lots more from our team members. We will apply hatsopolousophy to the business of online identity and collaboration. Our intellectual property and core competencies will make our collection of QEI enterprises and noncommercial organizations into a prime supplier of authenticity in online spaces.
We will manufacture authenticity by the ton. We are in the business of quietly building a complete new online environment while overtly building a buzz about the need for the new environment. We generate the buzz by calling attention to the problems solved by our PKI called the Quiet Enjoyment Infrastructure.
Most startups identify a specific need in a specific niche in an established market, and meet that need with a product or service. For every thousand of those there is one Apple, Micro Soft, Quantum (AOL) or Authenticity Institute that builds both a need and also builds that which meets the need.
QEI presents an InDoor real estate layer on top of the Internet, built upon measurably reliable identities and digitally signed occupancy permits. As you are much better off living in a residence than in a cardboard box by the side of the street, precisely the same principle applies to non-physical facilities.