We learned the value of research in World War II.

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.

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.

I really wanted to do research. That has never changed.

There was a time when I was wondering about this business of going public, so I visited about a half-dozen companies in the Boston area, all of them formed by MIT faculty and all had gone public.

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.

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