The term “molecular beam epitaxy” (MBE) was first used in one of our crystal growth papers in 1970, after having conducted extensive surface physics studies in the late 1960's of the interaction of atomic and molecular beams with solid surfaces. The unique feature of MBE is the ability to prepare single crystal layers with atomic dimensional precision. MBE sets the standard for epitaxial growth and has made possible semiconductor structures that could not be fabricated with either naturally existing materials or by other crystal growth techniques. MBE led the crystal growth technologies when it prepared the first semiconductor quantum well and superlattice structures that gave unexpected and exciting electrical and optical properties. For example, the discovery of the fractional quantized Hall effect. It brought experimental quantum physics to the classroom, and practically all major universities throughout the world are now equipped with MBE systems. The fundamental principles demonstrated by the MBE growth of III–V compound semiconductors have also been applied to the growth of group IV, II–VI, metal, and insulating materials. For manufacturing, the most important criteria are uniformity, precise control of the device structure, and reproducibility. MBE has produced more lasers (3 to 5 million per month for compact disc application) than any other crystal growth technique in the world. New directions for MBE are to incorporate in-situ, real-time monitoring capabilities so that complex structures can be precisely “engineered”. In the future, as environmental concerns increase, the use of toxic arsine and phosphine may be limited. Successful use of valved cracker cells for solid arsenic and phosphorus has already produced InP based injection lasers.