Nathan Myhrvold (Intellectual Ventures Co-founder) – UW Four Peaks (Sep 2013)

Chapters

Abstract

“Revolutionizing Innovation and Culinary Arts: The Diverse Legacy of Nathan Myhrvold”

Nathan Myhrvold, a renowned figure in technology and culinary arts, has been a pioneering force in reshaping industries through his work at Intellectual Ventures and his groundbreaking culinary project, “Modernist Cuisine”. Myhrvold’s unique approach to innovation and invention, particularly in the contentious field of intellectual property and patent portfolios, has stirred both admiration and criticism. His advocacy for a business model that nurtures inventors and technological progress, alongside his significant contributions to the culinary world by blending science with cooking, has established a multifaceted legacy. This article delves into Myhrvold’s journey, from confronting criticism in the tech industry and advocating for Intellectual Ventures, to his passion for cooking and science that culminated in the influential “Modernist Cuisine”.

Main Ideas Organized by Importance:

Nathan Myhrvold’s Advocacy for Intellectual Ventures’ Business Model

1. Confronting Criticism: Myhrvold actively defends Intellectual Ventures against critics, emphasizing its mission to promote invention and technological progress.

2. Changing Landscape of Intellectual Property in Tech: Myhrvold underlines the evolving nature of intellectual property in the tech industry, advocating for patent protection.

3. Maturation of the Tech Industry and Historical Parallels: He observes the industry’s maturation, drawing parallels with General Electric to emphasize the importance of patent portfolios.

4. Nathan Myhrvold’s Defense of Intellectual Ventures Business Model: Myhrvold believes in the legitimacy and positive impact of Intellectual Ventures’ business model. He compares Intellectual Ventures’ situation to Amazon’s willingness to be misunderstood in pursuit of something significant. Their mission is to demonstrate the benefits of investing in inventors and promote technological advancement.

5. Myhrvold’s Approach to Criticism and Misunderstandings: He focuses on the belief that he and Intellectual Ventures are right in their approach. He assumes that many critics misunderstand the company’s intentions and model. He attempts to engage with critics, such as in his Slashdot interview, to explain and convince them of the model’s validity.

6. Comparison of Intellectual Ventures with Companies like Apple and Microsoft: Apple and Microsoft have strong patent portfolios and use them to protect their innovations. Myhrvold sees this as legitimate and necessary to prevent others from stealing their ideas. He argues that Intellectual Ventures has the same right to protect its investments in inventions and seek compensation for their use.

7. Intellectual Property in a Maturing Tech Industry: The tech industry has shifted from a nascent stage with limited patents to a more mature landscape where patents are essential. Companies like GE, with roots in inventions and patents, have demonstrated the value of intellectual property. The early libertarian philosophy in tech, which promoted open source and anything goes, is no longer suitable for the industry’s current size and economic significance.

8. Importance of Rewarding Inventors and Promoting Meritocracy: Myhrvold emphasizes the need to reward individuals with great ideas and promote a meritocracy. He cites Microsoft’s success in creating millionaires through stock options for employees with innovative ideas, even those without managerial positions. This meritocratic approach encourages the development and recognition of great ideas within the tech industry.

Silicon Valley’s Success and Venture Capital’s Role

1. Meritocracy and Success: The focus is on the shared meritocratic success in Silicon Valley.

2. Venture Capital’s Impact: Venture capital is highlighted as a crucial element in fostering innovation and economic growth.

3. Democratic Innovation through Investment in Inventors: Silicon Valley’s success lies in its meritocratic approach, focusing on the growth of the most successful companies, even if many others fail. This meritocracy can be applied to invention by providing funding and support to inventors, enabling them to bring their ideas to market.

4. Venture Capital and Democratizing Innovation: Venture capital has democratized innovation by providing funding to entrepreneurs, leading to the success of many companies, even though most fail. Invention capital can play a similar role by providing funding to inventors, enabling them to develop and commercialize their ideas.

5. Intellectual Ventures’ Contribution: Intellectual Ventures has provided $400 million in funding to individual inventors in the United States, helping to democratize innovation and support the development of new products and technologies. This funding has enabled inventors to bring their ideas to market, leading to tangible products and outcomes that people can see and experience.

6. Intellectual Ventures’ Impact: Intellectual Ventures’ work in bringing invention to market will be discussed in more detail after the break, highlighting specific examples of how the company is driving innovation and making a positive impact on the world.

Intellectual Ventures: Mission and Challenges

1. Funding and Support to Inventors: Intellectual Ventures plays a significant role in democratizing innovation by providing funding and support.

2. Challenges in Demonstrating Results: The difficulty in showcasing tangible outcomes due to the nature of invention is addressed.

3. Technology at Intellectual Ventures: Nathan Myhrvold, the founder of Intellectual Ventures, explains the journey of innovation at the company. He highlights three key areas of focus: nuclear power, metamaterials, and antennas for internet connectivity.

4. TerraPower: A New Approach to Nuclear Energy: Intellectual Ventures is working on TerraPower, a novel concept in nuclear power plants. It aims to provide a carbon-free energy source, addressing climate change concerns. Additionally, it can utilize nuclear waste as fuel, making it safer and more efficient.

5. Metamaterials and ChiMeta: Metamaterials, a field of solid-state physics, allows for the creation of materials with unique interactions with light and radio waves. Intellectual Ventures has spun out ChiMeta, a company focused on developing a flat panel antenna. This antenna promises to provide broadband internet access on various platforms, including vehicles, airplanes, and boats.

6. Risk and Scale in Invention: Myhrvold emphasizes the high-risk nature of individual inventions. However, Intellectual Ventures aims to mitigate this risk by investing in a large number of inventions, similar to a mutual fund’s investment strategy. By diversifying the portfolio of inventions, they increase the likelihood of successful outcomes and reduce the overall risk.

7. Legacy and Motivation: Despite having achieved financial success, Myhrvold remains motivated to continue innovating. He believes that true fulfillment comes from contributing to society and making a difference in the world. He is driven by the desire to solve complex problems and see his inventions make a positive impact on people’s lives.

Metamaterials: A New Frontier in Material Science

1. Myhrvold’s Journey with Metamaterials: His commitment to metamaterials, despite skepticism, led to significant advancements in the field.

2. Balancing Innovation and Predictability: Myhrvold’s strategy in managing risk and fostering innovation in this emerging field is explored.

3. Innovations and Metamaterials at Intellectual Ventures: The Path of Invention: Intellectual Ventures is committed to investing in and developing metamaterials, a cutting-edge field of materials science with the potential to revolutionize industries. Their work in this area includes the development of flat panel antennas and the exploration of novel applications for metamaterials in various fields.

Nathan Myhrvold’s Passions: Culinary Innovations

1. Modernist Cuisine: Myhrvold’s passion for cooking and science merges in “Modernist Cuisine”, making a substantial impact in the culinary world.

2. Legacy in Cooking and Science: His desire to revolutionize cooking by integrating scientific principles is emphasized.

3. Personal Passions and Contributions: Myhrvold pursues endeavors that he deems important and worthwhile, such as travel and scuba diving. His passions often intersect with his professional pursuits, leading to significant contributions, as seen in the field of cooking through Modernist Cuisine. He finds immense satisfaction in being able to positively impact and make substantial contributions to fields that he is passionate about.



Nathan Myhrvold’s multifaceted career encapsulates a journey of relentless innovation, passionate advocacy for inventors, and a unique blend of culinary artistry and scientific exploration. Through Intellectual Ventures, he has championed a business model that has transformed the tech industry’s approach to intellectual property and patents, while his culinary endeavors in “Modernist Cuisine” have revolutionized how cooking is perceived and practiced. Myhrvold’s legacy is not just confined to his achievements but also reflected in his unwavering commitment to pushing the boundaries of what is possible, both in technology and the culinary arts.

Notes by: oganesson