Larry R. Marshall Explained

Larry Marshall
Honorific Suffix:FTSE, FAICD, FAIP
Office:Chief Executive of the CSIRO
Term Start:15 January 2015
Term End:30 June 2023
Predecessor:Megan Clark
Successor:Doug Hilton
Birth Name:Larry R. Marshall
Birth Place:Sydney, Australia
Education:Macquarie University (Ph.D)

Larry R. Marshall is an Australian CEO, author and innovator who invented and commercialized the "eyesafe laser" enabling lasers to be used safely around humans,[1] and the semiconductor green laser which cures blindness in diabetics.[2] He founded 6 tech companies in the USA, delivered two IPOs[3] and is the longest serving CEO of the CSIRO, departing June 2023.[4] He currently Chairs American Chamber of Commerce, and Fortescue Innovation.[5]

Education

Born in Sydney Australia, he graduated from Macquarie University in 1988 with a PhD in physics,[6] doing research with J. A. Piper on Nonlinear Optics & Lasers.[7] [8]

Research

In the United States he researched parametric oscillators,[9] diode laser-pumped solid-state lasers,[10] fiber lasers,[11] and laser stabilization.[12] Marshall published 100 papers.[13] He invented the "eyesafe laser" for LIDAR, the single-frequency solid-state blue laser for submarine imaging,[14] the highest efficiency frequency-doubled laser,[15] UV 289nm laser for detection of biological weapons,[16] the intra-intra-cavity OPO for widely tunable IR medical lasers,[17] and the semiconductor green laser for Ophthalmology.

Following his PhD work, Marshall lived in the United States where he spent time at Stanford University, founded 6 startups over 26 years,[18] and registered 20 US patents[19] which were the basis for his startups.[20]

Career

He was Australian Top 10 Digital Entrepreneur,[21] one of Australia's 10 most influential people in Tech,[22] an inaugural STEM Champion of Change,[23] & co-founded the following startups & VC Funds:

Light Solutions (CEO) invented semiconductor green laser curing blindness in diabetics, merger with Iris Medical created Iridex IPO’d on Nasdaq.[24]

Iriderm invented laser to treat Telangiectasia, was acquired by Nasdaq:CUTR[25]

AOC (Chair) created Optoelectronics for Cable TV, now public company in China[26]

Translucent (CEO, Chair) invented Silicon laser, formerly thought impossible, acquired by ASX:SLX, share price rose 10x post acquisition.[27]

Lightbit (CEO) invented optical chip enabling Telecom across USA in a single hop, acquired by Corelux.[28]

Arasor (MD, co-Chair) enabled wireless HD streaming video while Netflix was still mailing DVDs, IPO’d by Marshall[29]

Venture Capital firms Main Sequence,[30] Blackbird,[31] The Renewable Energy Fund, Southern Cross Venture Partners.[32]

He is a Federation Fellow,[33] a Fellow of AICD,[34] AIP,[35] and FTSE.[36]

He is a published author, a book "Invention to Innovation" which teaches scientists to build companies,[37] and sits on the boards of ASX:FMG,[38] ASX:NAN,[39] ANU,[40] Great Barrier Reef Foundation.[41]

CSIRO

Marshall’s vision was for CSIRO to become an innovation catalyst to solve "Australia's Innovation Dilemma" he cites as a life mission.

He reversed CSIRO’s 30y decline, created $10B more value that any prior CEO, and took CSIRO 80% of the way to Net Zero.[42] He doubled the female leadership of CSIRO, and credits Diversity for doubling the value created by CSIRO annually,[43] doubling the morale of its staff & their safety, and doubling its public Trust making it the most trusted iconic brand in Australia.[44]

He narrowed CSIRO’s focus to solving Australia’s 6 National Challenges: Health, Environment, Food, Energy, Future Industry, & National Security.[45] He created a National Missions program to solve these challenges, but opposite to EU Missions which are funded by government, his are funded primarily by Industry.[46]

He led CSIRO’s first acquisition, NICTA & created Australia’s largest AI group Data61;[47] created the ON Program, a National science accelerator that outperformed the famous US iCorps accelerator;[48] and raised the first VC Fund in Government, Main Sequence, now a $1B fund supporting scientist CEOs.

Criticism

Marshall was subject to intense political criticism throughout his leadership of CSIRO:

When he was announced as CEO, he was asked about his inspiration for innovation, and cited the lengths farmers go to for water, including dowsing : "When I see that as a scientist, it makes me question, 'is there instrumentality that we could create that would enable a machine to find that water?"

Australian Skeptics awarded him Bent Spoon award for "the most preposterous piece of paranormal or pseudoscientific piffle".[49] [50]

In 2016, CSIRO deployed a water detection device as described by Marshall, and mapped underground aquifers, but the Australian Skeptics refused to withdraw their award.[51]

His narrowing of CSIRO’s focus required a 350 person reduction, including 60 climate scientists which drew intense criticism from scientists & the Australian Labor Party, & Greens,[52] including:[53] [54]

3,000 signature petition from scientists across 60 countries[55]

7 senate hearings[56]

Editorial in New York Times titled “Australia turns its back on climate science”[57] [58]

50+ articles by Peter Hannam criticizing the changes[59]

2016 election promise by Labor to reverse Marshall’s changes[60]

Intense Public criticism of Marshall by famous scientists John Church,[61] Tony Haymet,[62] Andy Pitman,[63] and Senators Kim Carr, Janet Rice, Whish-Wilson said his position was "untenable", "his strategy failed", and he was "going down in flames".[64] [65] [66]

It was later shown that Marshall did not cut funding to climate science, but the prior leadership lost $20M of funding before Marshall arrived.[67] Despite the initial redundancies, Marshall grew CSIRO by 1,000 people, its first growth in 30y.

In the midst of climate criticism, media reported he was being sued by angry shareholders in Arasor, which he had left 10y earlier.[68]

Marshall took Arasor public in 2006, and exceeded revenue expectations in 2006 and 2007,[69] [70] making ASX:ARR one of the most successful tech IPOs of that time.[71] He left in 2007 and 5 years later in 2011 all the Directors were named in a speculative lawsuit launched by a litigation fund International Litigation Partners.[72] [73] In a failed claim it had been alleged that Arasor's Directors produced misleading prospectuses.[74] The case gained notoriety when it failed to show misstatements and was rejected,[75] but then plead market based causation which does not require either damages or specific misstatements.[76] The case was closed in 2018 with no actions against any director, but one of the plaintiffs was subsequently sued over "inflated claims".[77] [78] International Litigation Partners was itself sued by the Australian Tax Office for tax evasion,[79] and its founder Paul Lindholm charged with resisting arrest.[80]

Notes and References

  1. "An Efficient Eyesafe Source at 1.59 μm", L.R. Marshall, R. Burnham, J. Kasinski, Advanced Solid State Lasers, OSA, vol. 6, pp. 271–276 (1990).
  2. "Diode Pumped Solid-State Lasers in Ophthalmology" L.R. Marshall, LEOS'97, San Francisco, CA (1997)
  3. Web site: iTWire - CSIRO marshals venture capitalist as new CEO . 2024-05-07 . itwire.com . en-gb.
  4. Web site: Milman . Oliver . CSIRO appoints Larry Marshall as new chief executive . The Guardian . 9 October 2014 . 8 August 2022.
  5. Web site: https://www.csiro.au/en/news/All/News/2023/June/WEHIS-PROFESSOR-DOUG-HILTON--APPOINTED-AS-CSIRO-CHIEF-EXECUTIVE.
  6. Web site: Larry Marshall LinkedIn . LinkedIn . 8 August 2022.
  7. L. R. Marshall and J. A. Piper, Transient stimulated Raman scattering in lead vapor, IEEE J. Quantum Electron. 26, 1098–1104 (1990).
  8. L. R. Marshall and J. A. Piper, Accumulation of Raman gain between closely spaced pulse pairs, Opt. Lett. 1345–1347 (1990).
  9. L. R. Marshall and A. Kaz, Eye-safe output from noncritically phase-matched parametric oscillators, JOSA B 10, 1730–1736 (1993)
  10. L. R. Marshall, J. Kasinski, and R. L. Burnham, Diode-pumped eye-safe laser source exceeding 1% efficiency, Opt. Lett. 21, 1680–1682 (1991).
  11. L. R. Marshall, Fiber stub end-pumped laser, US Patent 5,663,979 (1997).
  12. L. R. Marshall et al., Pulsed laser with passive stabilization, US Patent 5,982,789 (1999).
  13. https://www.osapublishing.org/search.cfm?q=larry marshall&meta=1&cj=1&cc=1https://ieeexplore.ieee.org/search/searchresult.jsp?queryText=larry%20marshall&rowsPerPage=50http://www.laserfocusworld.com/archives.htmlhttp://spie.org/app/search/browse?Ntt=larry+r+marshall&Dy=1&Nty=1&Nrpp=20
  14. "All-Solid-State, High Power, Diode-Pumped 455 nm Laser" L. R. Marshall, Proceedings of Lasers '91, MD5 (Society for Optical & Quantum Electronics, 1991).
  15. Highly Efficient TEMoo Operation of Side-Pumped Nd:YAG Lasers" L.R. Marshall, A. Kaz, R.L. Burnham, Opt. Lett., 17, pp. 186–189 (1991).
  16. Highly Efficient, All Solid-State 290 nm Source", L.R. Marshall & A. Kaz, CLEO '94, post deadline paper, Anaheim, CA (1994).
  17. Noncritically phase-matched Degenerate 4μm OPO", A.Kaz & L.R. Marshall; OSA Proceedings on Advanced Solid State Lasers (1994) Vol. 20 pp. 443–446, Advanced Solid State Lasers, Salt Lake City, UT, Feb 7–10 (1994).
  18. Web site: Dr Larry Marshall . 2015-10-02 . people.csiro.au.
  19. Web site: Google .
  20. https://www.smh.com.au/technology/sci-tech/entrepreneur-larry-marshall-to-head-csiro-20141009-113k2b.html The Sydney Morning Herald, October 2014
  21. Web site: SmartCompany . 2007-06-14 . Our top 10 digital entrepreneurs . 2024-05-28 . SmartCompany . en-AU.
  22. Web site: Howarth . Brad . 2015-09-28 . Australia's 10 most influential people in tech . 2024-05-28 . SmartCompany . en-AU.
  23. Web site: Champions of Change STEM . 2024-06-18 . Champions Of Change Coalition . en-US.
  24. News: Jones . Dow . 1996-02-17 . Iridex's Initial Offering . 2024-05-28 . The New York Times . en-US . 0362-4331.
  25. Web site: Corporation . IRIDEX . Cutera and IRIDEX Announce Acquisition of IRIDEX' Aesthetic Business Unit . 2024-05-28 . www.prnewswire.com . en.
  26. Web site: 2024-05-28 . www.bloomberg.com.
  27. Web site: Matters . Energy . 2009-05-27 . Silex To Acquire Australian BP Solar Panel Plant . 2024-06-18 . Energy Matters . en-AU.
  28. Web site: 2003-03-11 . Lightbit Announces Pure-Optical Processor Chip . 2024-05-28 . Laser Focus World . en.
  29. Web site: 2007-03-14 . Arasor to hire more local talent . 2024-05-28 . Australian Financial Review . en.
  30. Web site: Riley . James . 2017-11-03 . Larry Marshall's Main Sequence . 2024-05-07 . InnovationAus.com . en-AU.
  31. Web site: 2023-10-22 . Good luck, rich parents and Canva: how Blackbird made millionaires . 2024-05-07 . Australian Financial Review . en.
  32. Web site: Moses . Asher . 2012-06-04 . 300: the small Aussie force willing to risk all . 2024-05-07 . The Sydney Morning Herald . en.
  33. Web site: Macquarie University Staff News . 2024-06-18 . www.mq.edu.au.
  34. Web site: Dr Larry Marshall - AICD . 2024-06-19 . www.aicd.com.au . en-US.
  35. Web site: The Australian Institute of Physics - Public Fellows List . 2024-06-19 . aip.org.au.
  36. ATSE 2016 New Fellow: Dr Larry Marshall FTSE . 2016-12-13 . ATSE . 2024-06-19 . YouTube.
  37. Book: Invention to Innovation.
  38. Web site: Fortescue board bolstered by ex-CSIRO boss Larry Marshall. 26 August 2023.
  39. Web site: Board of Directors Nanosonics . 2024-05-07 . www.nanosonics.com.
  40. Web site: 2023-07-24 . Dr Larry Marshall Australian National University . 2024-05-07 . www.anu.edu.au . en.
  41. Web site: Dr Larry Marshall . 2024-05-07 . Great Barrier Reef Foundation . en.
  42. Web site: Making net zero a reality . 2024-05-31 . CEDA.
  43. Web site: Riley . James . 2023-06-16 . The exit interview: Larry Marshall has no regrets . 2024-05-31 . InnovationAus.com . en-AU.
  44. Web site: 2023-06-19 . Why Larry Marshall turned down a job extension at CSIRO . 2024-05-31 . Australian Financial Review . en.
  45. Web site: CSIRO . Long serving CSIRO Chief Executive Dr Larry Marshall to conclude third and final term June 2023 . 2024-05-31 . www.csiro.au . en.
  46. Web site: Wolff . Helen . 2023-07-12 . Dr. Larry R. Marshall . 2024-05-31 . CSIROpedia . en-AU.
  47. Web site: CSIRO . CSIRO's Data61 delivers for Australia in its first year of operations . 2024-05-31 . www.csiro.au . en.
  48. Web site: Riley . James . 2017-11-03 . Larry Marshall's Main Sequence . 2024-05-31 . InnovationAus.com . en-AU.
  49. Web site: 2014-10-19 . CSIRO head keen to expand water research . Australian Broadcasting Corporation.
  50. Web site: Bent spoon for CSIRO head . 2016-02-06 . Australian Skeptics Inc.
  51. Web site: 2016-07-09 . CSIRO chief retains award for dodgy science . 2024-05-28 . ABC listen . en-AU.
  52. Web site: CSIRO climate science cuts a test for Turnbull: Greens . 2016-03-25 . Australian Greens.
  53. https://www.nytimes.com/2016/02/28/world/australia/cape-grim-climate-change-research.html Scientists Protest Cuts and Commercialization at Australian Climate Center
  54. https://www.thesaturdaypaper.com.au/news/resources/2016/02/20/backlash-against-csiros-cowboy-chief-larry-marshall/14558868002914 Backlash against CSIRO's 'cowboy' chief Larry Marshall; As Larry Marshall signals cuts to various programs, CSIRO staff say he is either out of his depth or has questionable motives – or both.
  55. https://www.theguardian.com/australia-news/2016/feb/09/csiro-chief-defends-climate-research-cuts-as-staff-weigh-up-industrial-action CSIRO chief defends climate research cuts as staff weigh up industrial action; Larry Marshall says there will be no net loss of staff over two years as international climate scientists condemn the cuts
  56. Web site: 2016-03-25 . Australian Greens.
  57. News: The Editorial Board . 2016-03-04 . Australia Turns Its Back on Climate Science . 2016-03-24 . The New York Times . 0362-4331.
  58. Web site: 2016-03-04 . 'Deplorable misunderstanding': New York Times criticises CSIRO cuts . 2016-03-24 . ABC News . en-AU.
  59. https://www.smh.com.au/federal-politics/political-news/maybe-im-naive-csiros-larry-marshall-tries-again-to-explain-deep-staff-cuts-20160210-gmr03b.html 'Maybe I'm naive': CSIRO's Larry Marshall tries again to explain deep staff cuts
  60. News: Hutchens . Gareth . 2016-06-12 . Labor promises CSIRO $250m to reverse Coalition's funding cuts . 2024-06-03 . The Guardian . en-GB . 0261-3077.
  61. Web site: 2016-02-04 . 'Climate will be all gone' as CSIRO swings jobs axe, scientists say . 2016-03-24 . The Sydney Morning Herald.
  62. Web site: Jones . Roger . 4 February 2016 . CSIRO cuts to climate science are against the public good . 2016-03-24 . The Conversation.
  63. Web site: Pitman . Andy . 5 February 2016 . CSIRO boss's failed logic over climate science could waste billions in taxes . 2016-03-24 . The Conversation.
  64. Web site: Hamilton . Clive . 4 February 2016 . CSIRO is poised to slash climate research jobs – experts react . 2016-03-24 . The Conversation.
  65. Web site: 2016-02-05 . CSIRO cuts: Without climate modelling, we won't be able to adapt . 2016-03-24 . ABC News . en-AU.
  66. Web site: CSIRO . Correcting the Public Record on Changes at CSIRO . 2016-03-24 . www.csiro.au . en-AU.
  67. Web site: 2016-06-06 . A hidden agenda? Larry Marshall and the CSIRO's climate scientists . 2024-05-31 . ABC listen . en-AU.
  68. Web site: Shanahan . Leo . 14 July 2015 . CSIRO head Larry Marshal sued over technology firm collapse . 23 March 2016 . The Australian . News Ltd.
  69. Web site: 2007-02-24 . Seize the moment . 2024-04-03 . Australian Financial Review . en.
  70. Web site: 2006-10-25 . Arasor makes strong debut on ASX . 2024-04-03 . The Sydney Morning Herald . en.
  71. Web site: 2007-03-14 . Arasor to hire more local talent . 2024-04-03 . Australian Financial Review . en.
  72. Web site: Class Actions in Australia: 2015 in Review Martindale.com .
  73. Web site: A . Moogy . Collapsed IT company attracts strong interest from potential buyers . 2016-03-23 . SmartCompany . en-AU.
  74. Web site: Thompson . Renee . 2015-07-13 . CSIRO chief taken to court by shareholders of collapsed ASX listed business . 2016-03-23 . SmartCompany . en-AU.
  75. Web site: Boggs . Squire Patton . 2015-12-02 . Australian Full Federal Court Recognises Market-Based Causation . 2024-04-03 . Restructuring GlobalView . en-US.
  76. Web site: Elliott, Jacob --- "Goodbye Caveat Emptor: Market-Based Causation In Australian Shareholder Class Actions" [2023] UNSWLawJlStuS 4; (2023) UNSWLJ Student Series No 23-4 ]. 2024-04-03 . classic.austlii.edu.au.
  77. Web site: Caulfield . Christine . 2023-05-16 . 'Silly case' between class action applicant, funder settles . 2024-04-03 . Lawyerly . en-US.
  78. Web site: Bolza . Miklos . 2020-08-28 . 'Completely unsatisfactory': Arasor class action applicant hit with costs for 'overstated' claims . 2024-04-03 . Lawyerly . en-US.
  79. Web site: 2014-08-07 . ATO sues International Litigation Partners for $7.4m tax .
  80. Web site: 2011-04-04 . Banker in DUI scuffle with police .

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