Advantages : Slide 25

This discussion insures success over the group. You will note here that I did not say it increases the likelihood of success, but literally insures success. If enough independent bets are made, the field on the aggregate pays off more as it has historically, then the user investment, clearly, is assured success. Utilizing these metrics and these concepts make for a new age for R&D and R&D evaluation. The criteria as widely applied in the literature, leads to lower costs, not higher costs.

Recently, when I was affiliated with a small group of skunk works people (the F-16 Lockheed skunk works Viper group and myself). We came to the conclusion amongst ourselves that the skunk works approach can achieve the same R&D results for approximately one-fifth the cost of well-funded, "well-managed" projects. In other words, more throughput will occur at higher possible returns for significantly less money. I should also point out that no project can be done in a year. All projects take a minimum of eighteen months, even sustaining projects. Some projects may take as long as a decade. Having slow, patient money is the key. As an old venture capitalist friend of mine once said, "Slow money sticks."

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