-Caveat Lector- > > MISSION IMPOSSIBLE MEETS SILICON VALLEY > "In-Q-It" -- a Venture-Capital Scheme created for the CIA by the new > #3 man in the CIA, "Buzzy" Krongard! > http://www.rumormillnews.net/cgi-bin/config.pl?read=7736 > > IN-Q-IT- CIA VENTURE-CAPITAL SCHEME - BY KRONGARD > > Posted By: Q > Date: Wednesday, 21 March 2001, 2:02 p.m. > > > Mission Impossible meets Silicon Valley > http://www.davidignatius.com/092999WashingtonPost.html > > > "The idea is for In-Q-It to fund promising technologies..." > > "The idea for the venture-capital fund was hatched in > conversations between the new CIA director, George Tenet, and > a former investment banker named A. B. "Buzzy" Krongard, who > joined the agency in February 1998 as counselor to the > director. Krongard had been CEO of Alex Brown, the investment > bank that helped launch Microsoft, Sun Microsystems, AOL and > dozens of other high-tech IPOs." > > "Tenet floated the venture-fund idea to his CIA colleagues > in May 1998, referring to it simply as "The Enterprise." > (Bill Clinton's CIA Director using Ollie North terminology? > Could Bill have thought Tenet was a fox in the hen house? > It's no wonder Bill asked Barak to kill him by targeting > Arafat's office at the same hour Tenet was scheduled to meet > Arafat. No wonder G.W. has kept him on. Are the lights > starting to go on now? Do we have to draw you a picture?) > > " "In" for intelligence; "It" for information technology, > and "Q" in the middle because it was the code name for James > Bond's technology wizard, and it just sounded cool." (Isn't > it a wee bit of a coincidence that "THE Q" uses the same > initial? YOU DON'T SUPPOSE....? Oh dear... is there a FOX in > the Bush? No.. there is a FOX in Silicon Valley, and he is > about to take what's left of the dot.coms home with him...to > Mexico! Faction Three anyone?)" > > > ONE WORD TO RUMOR MILL NEWS READERS WHO ARE "IN THE KNOW"! > > (Okay -- two words!) > > OPERATION SLEDGEHAMMER > > Never heard of it? Use the search engines on the Forum, the > main page and/OR the two Yahoo archives. I saw it somewhere.. > on one of the archive pages connected to this webpage! > > And if you think this paltry story even comes close to > telling you the truth -- think again. But those of you who > have a nose will smell the coffee... but will you wake up? > > > > The Washington Post > > The CIA as Venture Capitalist > > By David Ignatius > > Wednesday, September 29, 1999; Page A29 > > If it were a Hollywood movie, the pitch would be: Mission > Impossible meets Silicon Valley. But it's real life, and it's > one of the oddest -- and most innovative -- things the > Central Intelligence Agency has done in years. > > The CIA has decided to create its own venture capital firm, > called "In-Q-It," to help the agency connect better with the > Internet revolution. The fear at Langley is that in a world > of start-ups and instant millionaires, the CIA isn't getting > technology's best and brightest anymore. So the spymasters > have opted to create their own start-up, with plans for an > office on Sand Hill Road in Palo Alto, where the leading > venture capitalists hang out, and a $150 million kitty. > > The idea is for In-Q-It to fund promising technologies that > can help the CIA keep pace with the information explosion. It > will be small, with a staff of 20 to 25 people, and will > operate much like a normal venture fund -- partnering with > other companies and funds. In theory, its activities will be > entirely unclassified. And though it will be a nonprofit > organization, the goal is to invest wisely enough that after > five years, it will be self-financing. > > As examples of the kinds of problems In-Q-It will work on, > agency officials cite the need for smarter CIA search > engines, better ways to visualize data, and better security > for CIA web surfers. But the broader goal is to link an > agency that can't give stock options with the cleverest minds > in the tech world. > > The CIA plans to make a formal announcement of In-Q-It in a > few weeks, but they've already chosen a board of directors -- > including such tech luminaries as John Seely Brown of Xerox > PARC, Jeong Kim of Lucent, Alex Mandl of Teligent and Norm > Augustine of Lockheed Martin. And the board just hired the > first CEO, an energetic 39-year-old named Gilman Louie. > > Louie's background gives a sense of what an unusual > operation this is likely to be. A fourth-generation Chinese > American (and son of a World War II veteran of the Army Air > Corps), he made his name creating video games, including the > Falcon air-combat simulator, beloved by computer buffs around > the world. He's a genuine Silicon Valley entrepreneur, who > started his first company in his mother's garage in San > Francisco when he was 22 and hangs out with other wealthy > geeks. His favorite recent movie is "The Matrix," natch, > which he has seen four times. > > Louie appears to know relatively little about the CIA and > its venerable traditions -- which is probably a plus. He > decided to take the job (at what's likely to be a huge pay > cut) because it was a way "of doing something for my > country." > > "I was amazed the the agency was willing to do this," says > Louie. "It's very 'out of the box.' " > > Out of the box, it is. CIA officials explain that In-Q-It > evolved out of growing frustration that the agency was losing > its once-vaunted technical edge, which helped create the U-2 > spy plane, overhead satellite reconnaissance and dozens of > other collection technologies. > > The idea for the venture-capital fund was hatched in > conversations between the new CIA director, George Tenet, and > a former investment banker named A. B. "Buzzy" Krongard, who > joined the agency in February 1998 as counselor to the > director. Krongard had been CEO of Alex Brown, the investment > bank that helped launch Microsoft, Sun Microsystems, AOL and > dozens of other high-tech IPOs. > > Tenet floated the venture-fund idea to his CIA colleagues > in May 1998, referring to it simply as "The Enterprise." The > project was turned over to a group that included an energetic > young woman named Sue Gordon, a former Duke basketball player > who was working in the agency's science and technology > directorate. She began making the rounds in Silicon Valley to > flesh out the idea and drum up support. Gordon also helped > come up with the name: "In" for intelligence; "It" for > information technology, and "Q" in the middle because it was > the code name for James Bond's technology wizard, and it just > sounded cool. > > Within six months, Gordon and her colleagues had created a > framework for the new organization -- a rate of speed that's > typical for a Valley start-up, but almost unheard of in > government. Her message to skeptical CIA colleagues was: "In > order to move forward, you're going to have to let go" -- > again, a sentiment rarely heard in government. > > The In-Q-It team members know they'll face resistance from > techies, for whom suspicion of the intelligence world is > almost a cultural requisite. Indeed, Louie himself was > lobbying the government a few years ago to abandon its > efforts to control export of encryption software. > > What the intelligence community didn't understand back > then, says Louie, is that technology is moving too fast now > for anyone to try to control it. Nowadays, a 16-year-old can > download encryption software from the Net that's so > sophisticated it will confound codebreakers at the National > Security Agency. > > "The cat is already out of the bag," says Louie. The > government's biggest job is just to keep up with the pace of > change. The best thing about In-Q-It, to me, is that it's > risky. The CIA and the rest of the government need to catch > the entrepreneurial, risk-taking spirit that's driving the > Silicon Valley technology revolution. > > The CIA's new venture fund may fall flat, but so what. > Washington has been a zero-defect culture for too long. If we > want a CIA that performs better, we'll need to take more > risks -- and give our government the freedom to fail. > > © Copyright 1999 The Washington Post Company > > Last Updated: September 29, 1999 > Copyright © 1999 David Ignatius > > > IN-Q-IT- CIA VENTURE-CAPITAL SCHEME - BY KRONGARD (views: 309) > Q -- Wednesday, 21 March 2001, 2:02 p.m. > OPERATION SLEDGEHAMMER (views: 354) > tenavision -- Wednesday, 21 March 2001, 3:01 p.m. > > RUMOR MILL NEWS AGENCY > http://www.rumormillnews.com > Rayelan Allan, Publisher > > Message From Rayelan: Many people have asked how I restored > my health. Here is my secret: DEAD DOCTORS DON'T LIE. These > are the products I used and continue to use. I am living > proof they work! If you have questions, check out the chat > room on Thursday nights, 7pm California time. Click the url > for more information! > http://www.deaddoctorsdontlie.com/agent/raye/ > > > RMNews, The Uncensored National Rumor > http://www.rumormillnews.com > THE ONLY RUMOR YOU CAN TRUST > > RUMOR MILL NEWS AGENCY > P.O. BOX 1784 > APTOS, CA 95001 > TEL 831 462 3949 > FAX 831 462 2545 > > WHY WAS PRINCESS DIANA MURDERED? > http://www.dianaqueenofheaven.com > ================================================================= Kadosh, Kadosh, Kadosh, YHVH, TZEVAOT FROM THE DESK OF: *Michael Spitzer* <[EMAIL PROTECTED]> ~~~~~~~~~~~~~~~ The Best Way To Destroy Enemies Is To Change Them To Friends ================================================================= <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! 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