Old thread, but I can clarify. Thiel Audio began as a division of Tom Thiel's Conceptions Design Studio which made furniture, musical instruments and other high artifacts. The first product, the Thiel Model 01 came from "Conceptions Electronics / division of Conceptions Studio". It had a custom Eminence 10" woofer and a 1.5" mylar dome by Long Engineering, with an active electronic equalizer taking response to 30Hz at 90+dB sensitivity. Goals included flat frequency response and clear dynamics over a full range in a small package. It was a success and led to future developments of phase / time coherence, first explored in the Model O3 in 1978.