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Business, Technology

USV’s Albert Wenger on Climate and the Post-Capital World

September 29, 2022 tremendousblog 2 Comments

Most of human history has been defined by a lack of capital. We struggled to scratch out a living from the earth and stay alive long enough to enjoy it.

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Today, our world is one of abundance. But what if the ice is melting right underneath our feet?

That’s the view of Albert Wenger, Managing Partner of Union Square Ventures, . In his new book, The World After Capital, Wenger argues that what we really lack today is not capital but a focus on key issues.

Wenger is particularly concerned about the climate crisis. On a recent interview on This Week in Startups, he argues that society has to undergo a transformation on the scale of the shift from hunting and gathering to farming in order to beat climate change.

The threat is real and shows up more prominently every day. One day it’s massive floods in Pakistan, the next a devastating hurricane in Florida.

Wenger and his legendary firm are fighting this battle by doing what they do best: investing. And unlike some VC’s, they’re not afraid to plunge into difficult hardware projects that could make a difference.

Wenger argues that software can’t solve most of the climate problem. I agree — we need solar panels, geothermal, and wind, not just computer systems.

Early VC’s successfully invested in hardware by taking a larger percentage of the company in early funding rounds. This model could work again for climate investments.

However, hardware is tough to scale and often has poor margins. So for now, I’m sticking to SaaS solutions.

While the climate crisis is urgent, I disagree that society must change fundamentally to address it.

The shift from hunting and gathering to static, agricultural societies was massive. But to address climate change, all we really need is some solar panels and wind turbines.

We’ll continue to live much as we do today. Our energy will just be coming from a different place, and we may be only dimly aware of it.

The biggest change may be geopolitical.

Would we care about Saudi Arabia if we didn’t need oil? Would we accommodate Russia in any way if we didn’t need gas?

Freed from resource dependence, countries may turn inward. If this avoids disputes and wars, I’m all for it.

I also disagree with Wenger about capital’s abundance. If you’re a white man on the US coasts (hi!), he’s definitely right.

But if you’re a woman, minority, or live in the developing world, scarcity is still the rule. From financial capital to roads and bridges, most of the world remains poor.

What do you think of climate investing? Leave a comment at the bottom and let me know!

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Business, Technology

Record Funding for Climate Startups in Q2

August 17, 2022 tremendousblog 2 Comments

My appointment got cancelled, so I get to spend the afternoon with you guys! And we’ve got some big news…

As founders struggle with a down market, one corner of startupland is flush. Climate startups raised record funding in the second quarter.

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From a report out this morning on Bloomberg:

Carbon and climate startups have attracted record investments at a time when other industries are struggling to tap funds from venture capitalists.

Buoyed by corporate and government pledges to cut greenhouse gas emissions, a record $1.4 billion poured into climate and carbon-focused startups in the second quarter of this year. That’s in stark contrast to the broader market for venture funding, which faces its largest quarterly percentage drop in nearly a decade, according to CB Insights.

These startups have an incredible tailwind: $369 billion in government climate funding.

There are billions of dollars for batteries, reducing emissions, and reforestation. A small portion of one of these categories is enough to make a $1 billion startup.

I had a front row seat when huge government subsidies hit another part of tech — medical software. Before I became an investor, I worked on one of the leading platforms, Epic.

When the 2009 stimulus pumped $25 billion into the sector, everything went bonkers.

My phone started ringing off the hook with recruiters. And I started making a lot more money.

I wasn’t any better at the job than I was before the bill passed. But all that government money had to go somewhere.

Climate tech is about to be hit by the same kind of cash tsunami. And if you’re standing anywhere nearby, you’re going to get wet.

I favor SaaS products with a positive climate impact. Think software to reduce a truck fleet’s fuel economy, for example.

No scientific breakthrough needed, no messy and low margin “stuff,” just a proven business model applied to a new area. And it sells itself — even a climate change skeptic wants to save on fuel!

I actually just invested in a climate tech company a couple of months ago. (I’ll give you more details when the deal is announced.)

A great SaaS business is always yummy. A great SaaS business with a tailwind of government cash and regulation — chef’s kiss.

What do you think of climate tech? Leave a comment at the bottom and let me know!

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Photo: President Biden signs $369 billion in climate funding into law

Business, Science, Technology

How Feed Supplements Could Solve Cow Farts and Fix the Planet

May 16, 2022 tremendousblog Leave a comment

It’s time we acknowledge an uncomfortable truth: everybody burps and farts.

But amongst all animals, cows are the reigning champions. Those charming emissions contain methane, a potent greenhouse gas.

Indeed, cows produce more greenhouse gases than Brazil or Germany. But an innovative startup may have found the solution.

Mootral produces a garlic-based product that farmers can mix into cow feed. It cuts methane emissions by 20 to 38% and boosts milk production by as much as 5%.

Best of all, it doesn’t hurt the cow or change the flavor of the milk or flesh. Think of it as Beano for cows.

As far-fetched as it may sound, Mootral’s product is backed by numerous peer reviewed studies. UK farmers can even get the supplement for free if they share their methane data.

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Mootral isn’t the only startup tackling this pungent problem.

Blue Ocean Barns has created a seaweed-based supplement that may be even more potent than Mootral. Their product reduced methane emissions by 52% in a recent study.

A young lady I spoke with recently told me that the world is doomed because of climate change. I couldn’t disagree more.

Bit by bit, innovative scientists and companies are figuring out this problem. A feed supplement here, a wind turbine over there, and we may soon be amazed at the progress we’ve made.

What do you think of Mootral and Blue Ocean Barns? And what are the most interesting environmental technologies you’ve seen recently?

Leave a comment at the bottom and let me know.

Have a fantastic week everyone!

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Business, Science, Technology

Growing Veggies on Mars

May 2, 2022 tremendousblog 4 Comments

NASA intends to put the first man on Mars in the 2030’s. But once he’s there, what will he have for lunch?

Perhaps veggies grown in a BioPod.

This incredible new device from startup Interstellar Lab could finally allow us to cultivate crops in space. It could also revolutionize agriculture here on Earth.

The BioPod is an inflatable dome about 20 feet wide, 33 feet long, and 15 feet tall. It uses aeroponics, precision nutrient delivery, and careful climate control to produce the ideal growing environment for plants.

This means it can grow high value crops like flowers and microgreens. It can even grow plants that can’t be grown with traditional agriculture, like vanilla.

It’s also remarkably efficient, reducing water consumption by 98% while boosting yields up to 300-fold.

The BioPod is designed not just to feed humans in space, but on an increasingly unpredictable Earth. From a recent interview:

“Climate change is a real emergency for Earth, and we only have a small window to bring about positive change. We are developing a new framework for sustainable living on Earth and a testbed for future space missions,” Barbara Belvisi, Founder and CEO, Interstellar Lab said.

The BioPod is currently in production. You can even pre-order one now!

But at $250,000 each plus a monthly subscription fee, it’s a bit out of reach for most gardeners. Oh, and shipping’s not included.

However, if the BioPod can reduce inputs and boost yields as radically as Interstellar claims, I could see rapid adoption in the agriculture industry.

Already, companies like Bowery Farming are taking agriculture from farms to urban warehouses using hydroponics. They seem like a natural customer for Interstellar Lab, and I’m sure there are many more.

Long term, perhaps the BioPod will be deployed on Mars to support astronauts brought there by a SpaceX Starship. It’s a beautiful future I look forward to.

In the mean time, I’m itching to try a BioPod salad! 🙂

What do you think of the BioPod? Would you try its food?

Leave a comment at the bottom and let me know.

Have a great day everyone! 👋

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Use this link to sign up and you’ll save $15 on your first order.

I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

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Business, Technology

VADE: The Future of Parking

March 7, 2022 tremendousblog 2 Comments

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I recently took a short ride with my friend Paulie. We reached our destination in less than 10 minutes, only to find nowhere to park.

We circled block after block. Any open spot turned out to be a fire hydrant.

Finally, after 20 minutes, we found a spot! Then, we walked many blocks in the cold to our destination.

Parking had taken more than twice as long as our trip!

But what if you could instantly see on your phone where the open spots are? A company called VADE is making that a reality.

VADE puts wireless, solar powered cameras in cities to monitor parking use. It can find open spots, double parked cars, and blocked bike lanes automatically.

Quickly directing drivers to an open spot could save tons of time and carbon emissions. Researchers estimate 15-30% of all driving is people searching for parking spots!

VADE could have a profound effect on climate change. Imagine if we eliminated 15-30% of all vehicle emissions!

VADE also makes cities safer. If a city can find blocked bike lanes and clear them, bicyclists no longer have to venture into perilous traffic to get around obstacles.

I had some privacy concerns with putting cameras all over a city, but VADE’s cameras are intentionally lower resolution. They can spot a car but can’t identify a person, a wise design decision.

So thrilled to announce our $4.3M seed round for @vadegroup led by @msuster of @upfrontvc and participation from @Jason, @glangley, @ZacBookman, @jonathonbarkl, and more! pic.twitter.com/EogclfGAEf
— Ritwik Pavan (@ritwikpavan) March 4, 2022

I’m super excited to be an investor in VADE. I look forward to a day when Paulie can save tons of time and effort parking, and you can too!

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Business, Science, Technology

Cana: The Star Trek Replicator for Beverages

January 26, 2022 tremendousblog 2 Comments

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I woke up this morning and wandered into the kitchen. I opened the fridge and poured a delicious glass of tingly seltzer.

Mango flavor.

After a glass or two, I threw out the empty plastic bottle. That bottle may soon make it into the ocean and perhaps even back into my body as microplastics.

But what if I could have my yummy seltzer, along with my morning coffee or even a glass of wine…all from one printer?

This is what Cana, an incredible startup backed by David Friedberg, may soon make a reality. Cana has spent 3 years developing a 3D printer for beverages.

It can make thousands of drinks, from iced coffee to orange juice to beer. Since those drinks are 90% or more water, Cana only has to send you a tiny cartridge with flavor compounds.

The water comes from your tap!

And Cana can add unique flavors to your drink. Maybe almond seltzer is what we’ve been waiting for all along!

If it works, Cana will be incredibly convenient and should be cheaper than regular beverages. But Cana offers a lot more than convenience.

If we quit shipping heavy beverages that are almost entirely water, and quit stocking them on shelves and housing the empties in landfills, the environment will benefit greatly. Imagine all the carbon emissions of trucks and warehouses used to transport and store beverages, gone!

And drinks are just the beginning. Some day, Cana aims to print any consumable item you may need.

The device, about the size of a toaster oven, should be available within the next year, with pricing to be released in February.

I signed up for early access on their website, and I’ll knock over 10 people to be an investor too!

What do you think of Cana’s technology? Let me know in the comments at the bottom of the page.

And check out this great interview with David Friedberg on Cana from the This Week in Startups podcast!

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Business, Science, Technology

How Tech Could Stop Wildfires

October 5, 2021 tremendousblog 1 Comment

The US West Coast wildfire season used to be 4 months long.

Now it’s 8, running from May to January. 2.5 million acres of land have burned in California alone this year.

But for desperate homeowners in fire prone regions, there may be hope. Several new technologies have been developed recently that may protect homes from these terrifying fires.

Long-Acting Chemical Sprays

Just today, the US Forest Service approved a new fire retardant chemical. It can be sprayed on houses and critical infrastructure and last for months.

It may even last an entire fire season.

The chemical is called PHOS-CHEK FORTIFY®. Developed by Perimeter Solutions in Missouri, it is the first fire retardant that can protect structures for the long term.

I could see every house in the West being coated in this material or something like it each spring.

Fire Blankets

Giant foil blankets have saved some homes from wildfires.

However, a study by Case Western Reserve University Prof. Fumiaki Takahashi found that fire blankets are usually only effective for short periods. In a prolonged fire, they may fail.

Dry Ice

An intriguing possibility I first heard about on a recent episode of This Week in Startups. The idea is that CO2 from the dry ice would suffocate the fire, which needs oxygen to burn.

Unfortunately, this approach does not seem very effective for forest fires. From a study presented at the International Symposium on Fire Investigation Science and Technology:

To be effective against class A fires, the solid state CO2 tends to need to be in direct contact with the fuel material. As many forest fires travel through the canopy, this is not a feasible extinguishment method.

Wrap Up

The best candidate looks like a long term fire retardant chemical. Coupled with advanced satellite imaging to track fires just seconds after they begin, it could be a powerful tool to stop these fires.

Best of luck to the innovative companies and researchers tackling this huge challenge!

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Photo: “Wildfire” by USFWS/Southeast is marked with CC PDM 1.0

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Business, Technology

Robot Hands, Vertical Farms, and the Future of Food

August 30, 2021 tremendousblog 3 Comments

On Saturday, I stood in the produce section of a nearby Whole Foods. My eyes were drawn to tiny packages of delicate microgreens. The producer: Aero Farms.

Agriculture faces a difficult environment. Climate change is making weather more extreme and unpredictable. Workers are harder and harder to find. But a new model of farming is emerging, and it looks like nothing else we’ve ever seen.

Aero Farms grows greens in vertical stacks in what was once an abandoned steel mill. The farm is in gritty Newark, NJ, just a few miles from the Whole Foods where I encountered their product. They use 95% less water and 99% less land than a traditional farm. And unlike other farms, they can grow year round.

Technology is also revolutionizing how produce is picked. A company called Root AI makes soft, robotic hands that can pick anything from a hearty cucumber to a fragile strawberry. Alongside the robotic hands is a camera enabled with AI, which can identify the ripe produce and leave the rest to grow.

Seeing it in action feels like seeing the future:

These robots are now being put to use in giant warehouse farms that you could easily mistake for an Amazon Fulfillment Center. These are a project of AppHarvest, which claims they use 90% less water and are 30 times more productive per acre than a traditional farm.

Is that an Amazon Fulfillment Center in your pocket, or are you just happy to see me?

Even if the company’s projections are a bit optimistic, there’s strong evidence from numerous producers that indoor farming uses dramatically less water and space. And with the farm just a few miles from its customers in major cities, transportation costs and emissions are cut to the bone.

Putting robotics and indoor farming together, I think we are headed to a future that produces more output (food) with far fewer inputs (labor, water, land). And unlike human labor, electronics tend to rapidly decrease in price. That will only speed their adoption and lower food prices further.

To quote Lincoln Steffens:

“I have seen the future and it works.”

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