We need to get the history of ARPA right.

Some of those writing about ARIA, the new UK innovation agency modelled on ARPA, seem to be unaware of the history of ARPA. It's been suggested (e.g. by the FT) that the leaders of ARIA should be technology investors. This is ahistorical and wrong.

Let's get this straight. The early leaders of of ARPA were not specialists in investing in technology - they were specialists in technology. The first great Director of ARPA was Jack Ruina, who was a university professor in electrical engineering. He was a lifelong academic.

This is what Ruina's successor as Director of ARPA, Charles Herzfeld had to say about him:

When Ruina came into ARPA he killed off many programmes which were not technically feasible. He had to fight hard against pet projects of the politicians in congress. He won those fights only because he was a respected technical expert.

Ruina knew what talented scientists and engineers looked like, because he was one himself. This is what he said about JCR Licklider, the visionary who laid down the theoretical foundations of the internet:

BTW when eventually Herzfeld took over the reins as director of ARPA, he continued with the same informal culture. This is what happened when he was asked to fund the ARPANET (which became the internet):

These three people - Herzfeld, Ruina and Licklider - were responsible for the golden era of ARPA. They were scientists and engineers. They didn't come from a finance background and they were not technology investors.