No one ever won a chess game by betting on each move. Sometimes you have to move backward to get a step forward.

I'm forming a charitable institution for education.

One hundred percent of our earnings are reinvested in the company, and a great deal of that goes to research.

We learned the value of research in World War II.

The prejudice was so bad in the United States at that time that a dark person with a white person would not be served in a restaurant. My father, mother, and I would try it occasionally. We would sit there, and the food would never come.

At MIT, I had the good fortune for seven years to teach network theory, which is basic to many disciplines, to one-third of the undergraduate student body. It was an experiment to see how high we could bring their level of understanding, and it exceeded all of my expectations.

I hope that the institution will succeed in maximizing students' potential in the same way. I will give all of my stock to this institution. It will own the Bose Corporation and be funded by the Bose Corporation.