THE WELCH COMPANY
440 Davis Court #1602
San Francisco, CA 94111-2496
415 781 5700



December 30, 1999

03 00050 61 99123001



Mr. Thomas Stewart
ThosStew@aol.com

Subject:   Thucydides, Guttenberg, Grove
Investing Intellectual Capital

Dear Mr. Stewart,

I have not read your book, but do respect your subject of intellectual capital. Cognitive science is a driving force of theory that explains how humans think, remember and communicate, but is generally missing from the conversation about technology and management science. In particular cognitive science defines notions of human experience and intelligence that can be analogized to a continuous process of investing information to generate knowledge and ideas.

The weakness of this investing model is span of attention due to limited time, leading to meaning drift that makes management more a process of continual bumbling than learning.

See the paper on reducing the high cost of medical mistakes.

Sincerely,

THE WELCH COMPANY



Rod Welch
rowelch@attglobal.net