You are listening to the Draper Fisher-Jervinson Entrepreneurial Thought Leader Seminar,

brought to you weekly by Stanford Technology Ventures Program at Stanford University School of Engineering.

Today, our guest is Rick Wallace. Rick is the CEO of KLA 10 Corps. I think one of the most interesting and exciting companies in the semiconductor

equipment space and perhaps in the Valley. Really a company that's been enormously profitable and successful over the years. Maybe not one that is a household name like some of the others, but certainly I think one of the ones that's really part of the backbone of the Valley.

Rick has been the CEO there since January, so he's new on the job, and I'm sure has some interesting insights now that he's taken over that job.

Rick's background is an electrical engineering, so he's an electrical engineer from the University of Michigan,

and has a master's degree in engineering management from Santa Clara University,

but he wised up and came over to Stanford's executive education program, so we're glad to have him as,

well, kind of as alumni here as well. So let me turn it over to Rick. Thanks for coming, Rick.

Thank you, Kathy.

Thank you all for this opportunity.

I'm going to talk about a couple things regarding KLA 10Core. I will touch on vision, values,

and strategy, and then obviously be in a position to take questions. Let me just start with who we are.

As Kathy mentioned, KLA 10Ccore might not be a household name.

The company is 30 years old. We were founded in 1976. It was a venture-backed enterprise at the beginning,

and I'll talk a little bit about that. We are based here in the Bay Area in San Jose,

and we make equipment for the semiconductor industry. So anyone that manufactures semiconductors will have our equipment in their facilities

in order to inspect and measure their product as they're building it.

We're focused on those two fields, inspection and measurement,

and I'll talk a little bit about why we chose that and why we think about it as we go forward,

do we change our strategy.

We're bigger than, right now we're a little bit over $2 billion, probably about $2.5

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