Kris Tuttle
kris@research2zero.com

Amazon Open Source
Graphics
Cloud Computing
Google
Gaming
Info Mgmt Enterprise 2.0
Real VR
Mash Ups PaaS
SaaS Social Networks Visual Computing
SOA
Facebook Second Life
Mobile Internet
Twitter
Virtualization BioIT
iPhone
Telepresence
Resource Tech Energy
Genetics
Android
Nano Wireless
Biomimicry
Water
Electric
Smart Broadband Optical Quantum Computing
Materials Solar

Typical Research Firms
Push Model • Gartner
Hard Categories • Forrester
Defined Coverage • Goldman Sachs
Own Agenda • Morgan Stanley
Fixed Cost • Hundreds more
On-demand conclusions?
How does it impact us?
What are the implications?
Where are things changing?
Pull Model
• Gerson Lehrman Free Association
• Primary Insight Raw Expertise
• Dozens more No Context
• Contract firms Expensive

The Future of IT
“Enterprise 2.0” Binding Problem “Digital Consumer”
Business
Services
Platform
Services
Cloud Computing Real VR
Flow-based
Applications
Technology
Services
Graphics
3D
Virtualization
CAD/CAM
Open Source Wireless Broadband Optical Networks

Our Flow Based Approach
Science
Innovation &
Client
Technology Active
Priorities
Advisory
Commercial
Adoption &
ROIC

Research 2.0 Efficiency
Development Partners Downstream
• CXO Network • Analyst Network • Capital IQ
• The Info Pro • Virtual Research • ZepInvest
• Industry • New Constructs • Seeking Alpha
Research
• MGI Research • Blogs, Twitter
• University
• Companies
Research

Recent Early/Mid-Stage Projects
Collaborative BI
Technology Research
Co-founder, Investor
Advisors & Investors
Board Member
IT Planning SW Nano Materials
US Market Entry Advisors
Advisory Board Online Collaboration
US Market Study
Prior work with:

Potential Partnership Elements
Your Goals Business Focused Accomplishments
Field Work Industry Events, Conferences, Checks
Portfolio
Company Positioning, Market Strategy, M&A, Financing
Companies
Focused
Technology, Company, Market, Internal/External
Research
Company
Technology, Adoption, Management Team, Strategy
Vetting

Kris Tuttle - Director of Research
28 years of experience in applied emerging technologies, business, investing,
and equity research across a variety of domains
Founding Partner Research 2.0 (2005-Present)

 Research, investments and advisory services in emerging technologies.
Director of Equity Research - Adams Harkness & Hill/Canaccord (2003-05)

Director of Equity Research - SoundView Technology Group (1995–2003)

 Institutional Investor Magazine “Home Run Hitter” as head of software research.
 Dominated research, trading and banking in technology growth stocks.
 Exclusive research sharing relationship with Gartner and Forrester.
Vice President of Institutional U.S. Equity Sales S.G. Warburg/UBS (1992-1995)

Technical, Sales and Executive Positions at IBM (1984-1995)

 Corporate Strategy (1984-86), Marketing Strategy (1986-88), Sales (1988-90),
Services (1990-92)
Early work in computing (1979-1984)

 Microcomputers (1979-81), Artificial Intelligence (1981-84)

Stephen Waite - Strategy and Investments
22 years professional financial experience – research, strategy, portfolio
management, professor of financial analysis, corporate advisor and
published author (Quantum Investing and Boomernomics)
Founder and Partner of Consilient Capital (2004-Present)

 Corporate advisor to emerging technology companies
Adjunct Professor – Quinnipiac University (2003-05)

Partner & Co-Founder of Trilogy Advisors (1999–2002)

 Launched with $1.7 billion in 1999 – grew to $7.5 billion in 2001
 Managed multiple portfolios; responsibility for bottom-up investment
research and portfolio strategy
Portfolio Manager for Credit Suisse Asset Management /BEA (1995-99)

 Managed multiple portfolios – track record over 30% p.a.
Economic and Financial Market Strategist (1984-1995)

 Merrill Lynch (1992-95); Capital Group (1991-92); Morgan Stanley
(1986-1990); Comerica (1984-86)

The greatest obstacle to discovery is
not ignorance, it is the illusion of
knowledge. – Daniel Boorstin, Fmr. US Librarian of Congress

Backup Slides

Research Fragmentation
Fund Company
Managers Managements
Specialized
Providers
Research
Research
Investment Venture
Banking Capitalists
Research
Industry
Sales & Groups
Trading
Research

Can it be made efficient?
Company Venture
Managements Capitalists
Fund
Managers Research Research
Investment Research
Banking
Sales &
Industry
Trading
Groups
Research

Experience Bias
Micro-computing H/W & S/W (Pre-80’s, Intel and IBM)
Artificial Intelligence (Carnegie-Mellon and IBM)
Software (Carnegie-Mellon and IBM)
Equity Sales and Finance (S.G. Warburg)
General Business (IBM, NYU Stern)
Software Equity Research (SoundView)
Emerging Technology Research (Research 2.0)
Private Investor/Advisor (TheInfoPro, Creative Destruction Fund, Good Data Corporation)

What happened to equity research?
Effort Mix
Data Gathering
Proprietary Surveys
Visiting Customers
Visiting Companies Marketing
Idea Generation
Developing Ideas Earnings Reports
Value Finding New Sources
Add Reacting to News
Analysis
Packaging
Maintenance Research
Updating Price Targets Leaving VM Compliance
Publishing Systems Internal Procedure
Time