The Power of Universities to Disrupt Industry

Stanford University has an RD budget of about six billion dollars a year which I think is even bigger than the Stanford School of Engineering's research budget. Microsoft has a budget probably of seven or eight billion if there's a Microsoft person in the audience you can correct me but in that range slightly more than Intel. And every time I look at those two companies and I'll pick Microsoft as an example here and look at the challenges that those companies have with their huge R&D budgets. Each one of those instances were one or two graduate students, bright engineers with a bright idea able to challenge a company with a multi-billion dollar research budget. The individual idea is in fact really the key strength