But today the quickest way to save your bottom line is to cut off research.

At 13, I realized that I could fix anything electronic. It was amazing, I could just do it. I started a business repairing radios. It grew to be one of the largest in Philadelphia.

We did experiments with the Boston Symphony for many years where we measured the angles of incidence of sound arriving at the ears of the audience, then took the measurements back to MIT and analyzed them.

I'm forming a charitable institution for education.

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.

There is an enormous inertia that prevents people from change. You must always remember that it is impossible to make something better if you don't make it different - the converse is not true, of course. You cannot make something better unless it is different. And different scares the life out of so many people.

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.