If the past is prologue to the future, computer science will continue to be extremely successful. In a few short decades computer science has lead to revolutions in work, recreation and societal interactions. There are few technologies whose impact has been greater. Theoretical computer science has played a central role in these developments and is destined to play a central role in the future.

This document provides a brief discussion of the role of theory in computer science as well as a quick survey of contributions by the field. It takes the position that the unpredictable nature of research argues for a liberal attitude toward research funding while maintaining standards. Thus, it argues against picking specific research agendas or betting large amounts of support on a few research groups. Finally, it lists important areas of computer science that have the potential to attract the attention of theoretical computer scientists.