About this video

• Video Title: Scott Keeney, nLIGHT CEO & Co-founder, delivers keynote at Global Photonics Economic Forum 2025
• Channel: nLIGHT Inc.
• Speakers: Scott Keeney
• Duration: 00:22:36

Overview

Scott Keeney, CEO and Co-founder of nLIGHT, delivers a keynote address at the Global Photonics Economic Forum 2025. He shares his reflections on the photonics industry, discussing its importance despite its relatively small size compared to tech giants, the profound and lasting changes in the global economy, and the critical business and ethical questions facing industry leaders. Keeney touches upon the evolution of semiconductor lasers, market shifts, the impact of geopolitical changes, and the importance of strategic and ethical decision-making in the current economic landscape.

Key takeaways

• Industry Significance: Despite being a relatively small industry compared to tech giants, photonics and lasers are fundamentally important and underpin many critical technologies.
• Global Economic Shifts: The global economy is undergoing profound, lasting, and fundamental changes that impact industries and require leaders to adapt.
• Scale and Innovation: In industries like semiconductor manufacturing, achieving scale is crucial for improving quality and performance, and losing the ability to scale can hinder innovation.
• Geopolitical and Ethical Considerations: Leaders face complex strategic business decisions, particularly concerning navigating a China strategy, and must also grapple with significant ethical questions about the impact of their technology and business practices.
• The Future of Photonics: Lasers and photonics are considered critical, disruptive technologies vital to the economy, despite the challenges and complexities of the industry and the global environment.

Scott Keeney describes the global manufacturing mix as having changed dramatically, with China's manufacturing output now being roughly equal to the next ten countries combined. He notes that China has had a successful investment-led growth model, with significant opportunities for productive investment. However, he observes that the rebalancing of the economy, which many people discuss, has not yet occurred, and China continues with a sustained investment-led model. He points out that as productivity grows, it becomes harder to find productive investments, and this will play out in China as the economy matures. Keeney also highlights significant excess investment in real estate and infrastructure in China, as well as excess capacity in manufacturing across various industries.

Scott Keeney uses the example of Thomas J. Watson Sr. and IBM in the 1930s. He explains that Watson was focused on his business and took a stark point of view, and his company's tabulating machines were used for the census in both the US and Europe. Notably, these machines were used in Germany, and Watson received an award from Hitler. Keeney presents this as a case study to show that decisions made can have significant import and can be challenging to assess at the time, prompting reflection on what technology is doing in the world and whether necessary ethical decisions are being considered.