Welcome to today’s bonus episode. In the previous episode, The Future of Food, Energy and Space, you heard Tony introduce a group of groundbreaking entrepreneurs who are turning the status quo upside down for how we operate as humans. They shared what amazing technology we have to look forward to, not tomorrow, but today. This is technology that will improve the lives of people all over the world and for generations to come.
Here Tony continues the conversation with Bill, Jason, Mikhail, and Dakin, but with a focus on the business side to bettering the lives of people everywhere. Bill speaks to his desire to do for energy what Elon Musk did for cars. Jason talks about the power of distribution, comparing Netflix to the food market. And Mikhail opens our eyes to the newest space race and how being business-minded with technology produces incredible results.
In this episode Tony calls each of us to be an owner, not just a consumer. Entrepreneurship and investing is something he’s worked throughout his career to make accessible for all people. Enjoy this exciting episode and discover how you can get involved.
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Welcome to the bonus episode of the future of food energy and space after Tony individually interviewed the for business leaders solving major global issues. He did a round table discussion to really dig into the opportunity that he and they all see in these massive markets like energy, agriculture and space, because these solutions aren't coming from governments or Ngos. Their idea, aided and executed by businesses, was fascinating to us in this episode is how you'll hear these entrepreneurs not just talk about their solutions, and they are companies, but how what they're really doing is opening up these markets by proving the opportune?
in Vietnam and encouraging other start ups to join them in the race. A welcome competition, because, in the end it benefits everyone and improves the quality of life across generations and continents. So listen carefully, because if you are an entrepreneur who are looking for a wide open space to put through our talents and energy into,
you just might find one today, here's Tony Blair glued for Ravens podcast unreal excited for today, because you're gonna meet for extraordinary human beings that our world changing technology. Experts founders of
Please see using founders, better pudding.
Companies that are just ideas there right now. Moving forward and they're beginning do things that literally can change the lives of billions of people that do. I need to do star panel. For starters, first person hears my dear friend bill gross. He founded a company called id labs which started one thousand nine hundred and ninety six
the longest running technology incubator in history, next Jake,
the sea on CO, founder of a place called upward farms and now
building, these vertical panic, sustainable farms for leafy greens and fish, and invariably, we
do you Mikhail Poker, rich in girls. He built the first private,
space company in Russia, so that company, a very young age society, want to come to America and he wants the power humanity into the solar system and then finding my dear friend and my partner and that's Dickens. Loss deacon is
founder and ease the euro, the gentle partner, a bribe, prime movers lab they invest in break through scientific startups, and there really
obsessed with finding what they call prime movers witches people that are in
enters a technology that can transform billions of people's lives.
Start with you bilbil, you got all these companies hundreds of companies, but you never Manuel anyway. Recent times, CEO need to see how the helium Denzil tell us. What does it mean
you personally, while you involved in it for this level of death or even the ceo and workable
impact, beat what's the size, the impact they have on the industrial market and therefore the world. I really feel that low cost energy can help all of human kind in every every at every powerful way. As we said earlier, education, freedom, equality, justice, pollution wages. It yourself so many problems in. That's why I feel like. If there's one thing I can work on,
thus my life that uses my intelligence and my passion. My mechanical engineering background my science, my organizations, hills. I thought I'd, take everything I learn from all these business and apply it personally to this area. So I
I stepped in? I see you. I run the company on a daily basis, building the team going out just because I just think is the biggest most and type of thing I could do and is the most intellectually challenging at its heart. So I feel, like I'm learning something everyday elegant. My passion for learning is met by this company because it's a very, very hard problem, so
I hope we can make. A big impact I know, will make a big impact. An editorial bill gates is now one of your backers. What's
the size of your back. What's a size, the market for this company well yeah sure what little Isabel businesses if it's almost silly, the global GDP is eighty six trillion dollars.
Here. I'll bet, eighty six trillion dollars. Ten percent is energy to eight point. Six trillion dollars a year spent on energy.
that was a trillion dollars. Eighty one percent is coal, oil and gas. So seven trillion
easier, centrally barriers cold,
oil and gas. I won.
Replace all of coal oil gas, so I'm going
after seven trillion dollars. I would you please,
of coal, oil and gas with concentrated sunshine
I think we can do that. It's gonna take us a couple decades,
But I want to go do that and it is probably the biggest business possible is not
joined. Our Marty gap essentially involves revenues possible, so so adjust its biggest business. There can be no
I can get all that to ourselves. I really care about getting up what I mostly what to do. If I like it
so I would be very happy I'll
do what you learn did with electric cars.
I want to show that this is possible. I want to.
I get more people to come out this market, like Ilan, is doing a credible. We want to do with Tesla alone,
but look what he's doing with getting area car company to follow. I wanted you to
Anything in this area. I would like a successful companies, are making great return for investors, but I want to show other people you should,
after this market is a very, very lucrative market, asked big brother.
a vulgar much better. You Jason tell me
about upward farms and how can a performance improve billions wives tell us what that business so that the more we will we talk about it at upward. Farms is Howard celebrating the world's transition to regenerative agriculture and that's a bold claim for a vertical farmed making. It rots ties that my comments about me tat. I think great companies have this infinitely scalable vision, but this very clear market opportunity and note the very clear market opportune for us is first products that we ve offered for retail is a wash and ready to be package salad, which has in fact
the most attractive slice of the american produce, I'll pack excels the number one driver of organic produce sales you see or down a packet were packed. I broadly in eighty seven percent of U S household, and so it's a great opportunity to build the brand
very clear market opportunity and leave the greens in the: U S, her eleven billion dollar mark, but global agro food. Isn't a trillion dollar markets are getting to the numbers that that bills hockney about here right. The entire food supply chain is worth eight trillion dollars. So how do we accelerate the world's transition to regenerate agriculture? Well, maybe look at where food comes from
his sorrow and forty percent of the world's agricultural soils have been lost. The remaining agricultural soils are being lost at up to forty times. Replacement rates. The single biggest through ran to the food supply is actually
we'd mind. You know they were talking about the fossil fuel, reminding the earth for energy
we ve mind the earth for all of our food, so what our long term vision as in the way that we change billions of lives is by actually starting to rebuild soil until all the things that were doing their extraordinary
about how we grow, that improve quality and sustainability. And, of course, all that comes from this fundamental technology of how plants, animals and microbes have co evolved nature tapping into all of them the genetics that are already in there that could drive incredible traits, whether that's a more delicious product where disease resistant sport,
are you all the genetics that we be eight or ordering the out their nature when creating the environment, which is the background that I come from were created
environment the drugs that biology? But then we think about? Had we had we get this back to the broad acre? How do we become a tool for farmers and that that kind of, I think I'll I'll
get at indirect or culture and vertical far me. As with the question of where are we in the market cycle? You look at markets. Broad
and markets initially begin to have to build enterprise value in content. Rightly look at. Where is that, whereas the value in entertainment, it was
mediums, whereas the value and entertainment now in a mature ecosystem, its distribution, ripe, Netflix, other networks is a studio, was well over that naturally, that its it didn't. You know you start in content and more market as they mature evolve to distribution. You see that you see that across information technology grub, what does that mean for indoor farms? Are inert farms going to be in the content creation business?
forever. Are you gonna be a grower of leafy greens today, tomatoes, tomorrow, fish next week is, is that is that the end I'll, be all that that you're, the one you're actually growing? The product- and I think now you know that, what's what's the opportunity to actually to become the distribution platform, are ready, develop intellect
property on which you can get. You get leverage and I think, all the things that were learning about. How do we build great soil indoors? I we drive fertility in doors to drive productivity and all the things that were growing well. What if we did that outdoors when, if we rebuilt the forty percent of the world's agricultural soils than that of enlargement,
This focus on and on carbon capture. Soil is, in fact the number one store of carbon globally, and so that that is how we change billions. Wives, the that's! How we had this infinitely scalable vision is. We are focused on a technology that fundamentally built on natural laws,
but built on all of these genetics that have been developed through evolution over billions of years. We have
We try to learn from them and we try to put them to work indoors today to grow a better ecosystem,
better food, but over the long term we ask ourselves. Can we actually take us back out to land to the broad, acre and start rebuilding the world's fragility
don't you know. Some people are worried and may be studied by the amount of jobs will be lost in that's lily life on this planet.
what you're saying is we can rebuild it endorsement, dig it out yourself. Why do you want? My protest? Be grown indoors these now instead of outdoors, and why would I want it done by upward barbs? So why why you'd want your product grown indoors is really about the quality of the press.
After that, the quality in so many ways, whether it's the freshness me the
tell you you highlighted that were raised.
Locally and the ambition to to be locally global,
is really what indoor farms offer an freshness is every thing in produce. You lose all of the flavor, all of the new tricks and all of the texture in the trip from farm to table.
We want improve value. A third of the retail dollar is lost in transportation and waste package. Salad is, in fact our early figurines broadly, are today the most dangerous food
Erica. They account for a quarter of all cases of poor, now, listen by all means directional, like dont. Let me tell you from eating your vegetables. Tons of exports and the opportunity to improve safety- you see this in these recurrent
Romania, for example, or other leafy green recalls, and so there is the opportunity to increase safety
the reason why we call I being one of those that people most commonly be familiar with. The idea that so you know, equalize is a common is accomplished. The proper, probably the most common pathogen in. We be greens, easier, recalls across a variety of different pathogens, equalize, pretty notorious, and so the reason that you want your product to be grown by acid. We are offering a far superior product at a more accessible price point than has never
been offer, and we think that proposition should be as simple as that: better quality at a price, and why do we need change? You ve touched started because it will be brought here. Why do we need to change our food growing processes? What's gonna meet a generation in the future? It can you describe, like you, say, vertical farms how tall these
holdings and people want to get a picture there might I'm sure yeah yeah. So I guess when he s like you know, why does this matter.
future generations that the picture in my head is that, like that, seem from the matrix when you know they're all eating like that protein slop and it's like in a like cities, BC like the
the food of the future. I think an earlier in kind of the where we were in the Tec market cycle. You saw silent egg. Is that what you is that? What you want like the idea that all of you all of the boy has been taken out of your food and that you do know you're gonna drink this, and I don't I'm not gonna tell anybody else happened right like if you, if you want to eat
A high protein. You know, like vitamin mix in years in your shade,
your bar like if you, if that's what you want to eat by all means, but I personally think that there is a tremendous amount of joy
we had a good meal in sharing a good meal. You know I really celebrate food that
the question is like who do we want a bee? Who do what do we want our children to eat? And now I love sharing these extraordinary meals were with me
young Simon, like introducing him two things that I find delicious
and so you know that- that's that I think what it what it means. I think those that is the real sustainability question. Our culture is:
one of the largest drivers of
carbon emissions. There are lots of things that the need to improve their and
you know, you ve highlight Etonian in your work in this conversation, food insecurity so enough to really pull it altogether. I do think that-
creating a more delicious food market that is more affordable. That can take it. You know either survival changing climate or be one
that mitigate climate change, no matter which we slice it yeah indoor agriculture has a critical role in that resiliency
I am as well as in your medication strategy.
tell me now, on its upcoming cure for upward farms like what you guys have coming out. There are fish. Are you selling bishops upward and we'll just finish up? Would you give people
and what does it look like
we ve seen dangers of euro skyscrapers cities are gonna grow these happen now those private
We have seen happen. What does it really work like in reality and what's up coming for you guys to finish it yeah? So imagine like concept
Believe it really Wonka and planet earth gonna got together
made some magic meeting made some beautiful farm babies. That's like picture in your head. You know what this looks like. It's a wee wee run an awful panic form, so we are forming reforming fish reform plans, reforming microbes in a variety of ways that help our power plants are fish that help us to create a more sustainable and high quality production process
So we have a lot of up. One area of the farm were farming fish, and this is this is sustainable high quality. It is mercury, free, online, free antibiotic, free, like all the things that you want: absolute high quality product that happens on one side of the facility and then at once, we process the waste on the other side of himself of the facility. We have them
farming system of the plants and that kind of looks like if you, if you can imagine and industrial rotten system like you'd, see at at home Depot Cassio you ve got. This is many times
With automation at moves all of the plants through the growing process, so automated seated,
harvesting, washing drying, packaging, labeling, I'm and plants, or you know, things have become plants kind of flowing through that hope,
us and so on terms that, where energy is that we're zone
Technology efficiencies you ve, gotten rid of major- be, would do this caused the back there were other people have not been able to. Yes, there are really two classes of ip that that we ve developed. There's ip combination of Concentrate secret retz around the biology we ve developed. We ve developed certain things that help us to grow
better plants that help us to create better microbiology around the routes to great disease resistant strive. Higher yields improve the nutrition of the product, the mixture, patents and trade secrets there and then there's a whole bunch of automation that we ve developed and our goal is to make that automation, because any, if you think about food in the vote,
use of product that you need to move at really low cost is extraordinary and a lot
protest that you ve seen in indoor agriculture, are actually adapting systems that you see more unlike automotive manufacture.
where you're moving these very high value products right, you're, moving in individual products that are worth thirty thousand dollars, and instead we think that the approaches need to be focused on. How can I move as big a batch is possible for as low cost as possible? Is a weak developed?
a portfolio of IP around the autumn.
mission were actually able to move plants through this growing process with ninety eight percent, fewer moving parts and fifty percent lower costs to build than other vertical farms and say: yes, there is a lot of ip there and all
that is a service of building a more scalable, more for affordable production process,
and what are you coming out now, just gonna shop in view? Do self Bishop had or you still leaping greens. I understand the crack about
percent of all. We, the greens me, you ask him on the West Coast, woods distributions gonna interesting, you let me have a great local distribution.
I'm sure I know what you're deliver now and what's going so you know it's Europe, United. In fact it's ninety five percent of leafy greens are grown
in California in Arizona material coming out to counties, Salinas Kaliko
yet new measures, on the one hand, incredible production model
and on the other hand, it means that its very hard to get a local salad thinking with fish. Ninety percent of american Seafood is imported and in fact, imported fish
was mistrusted, written mark in terms of where we are today? So we are just about to open or recalling our hd farmer, headquarter farm group would be Brooklyn. It is about a twenty asks: expansion in capacity over a previous still
body and fully automated. Like a mention seeding plant movement, harvesting, washing drying packaging labeling had an end to end. This to us is kind of a demonstration of the power of vertical farming, the power of
for we are made it up upon it brought this. On the one hand, it is very elegant, ecosystem tapping into
millions of years of evolution and, on the other hand, is very precise, automated process that allows us to deliver consistent product at an affordable price.
It's wonderful Brooklyn. That is not the first place. The most of us think us workplace for farms. So you re
further, what's possible better! Thank you. Jason, ok
almost done Mikhail I've loved you, I mean I'm happy to go along
deeper. With momentous with you, I voted
Scoggins, like last mile in their space delivery Space Charter Service Space shuttle service. You got this incredible efficiency with this. You know water propellant it
times cheaper, it's faster, as I understand it is
the past is sustainable and safe. Tell us
just a little bit more about where momentous is today. What is actually doing and what's coming
I know you better mixing significant moved here. Thank you. I think your grasp, the idea very precisely I'm Willy Brandt,
It is in a very efficient motherless, mildly labelling in Spain,
The reason why you need to have something like momentous nicely, simple again look at ten years ago, so it was seventy satellites Laurie
space. Was basically soldier broke it. So every is, I believe that the own rocket some and why it was so because others was legit but was building like satellites that multi thoughts on majority of this advice was using. You know it begins to meals, not to promote communication or tv signal. Some alot of cameras
right there. She was also smaller than now am always others, because someone focal minus three times larger them so use. We ve been the working poor of the past, yes subtler becoming smaller, because all this progress was electronics and new obligations
the drive the size such ass. Much more so it used to be several tonnes now the average size of the hundred kilograms. It's actually the size of the of the man.
And another you have like this big rock is of, can deliver a very cheap, but have so many small satellites you finally to put like a constellation satellites to put on a very specific one of it. If you want to cover the earth, for example, make image in several times a day or you if you want to collect data about like in my second tat or about like early humidity or whether or any any
the publication of multiple orbits and well how about others and ensure it so, and this was the reason why people start to build a small rockets which found that one of the answer to the problem, but small rockets are like a small private jets, so you can fly fast but its expensive. It's a order of magnitude to them, so that happened to pass the test. My spaces and build begrudge saw how people saw this problem on ground here in on about. We almost have any logistics that we can imagine the multimodal it's a visible for next, the plains and trucks or if you deliver containers, it's like the big sheep and the fact that you look at the data or issue of the plans. We have this law for plants and in all other flights will happen, spoke model and now
Just time to apply the same approach to space, it sounds like a simple but actually hard, because even it sounds like a last mile deluded, but in space you measure distance is not in the miles you measure distances indicate the image.
because to change? One would be to another EU basically to change the velocity he asked,
The light and the church of those two can be pretty dramatic, just you, for example, if you or something through the orbit of international space Station and want to change the orbital incoming
the board of it. You need to put the same amount of energy like the flight was a more real
just make one changing the orbit as much energy is the goal of the moon gets used because not all the per second and let's try to.
she's direction of something that fly them. They killed the Forsaketh. It's hard times per second eight kilometres per hour.
And what is not miles to stop people translator eyes like a five miles per
against this also yet so people have a lot of energy source,
and we basically alter the next like a like, like believes or saw a solar energy so, but we are usually
for energy and use the summit,
the chinese orders so basically with a sore electrical propulsion, so intelligent energy.
And though we turn this energy into thermal energy, we hits like AL propensities kind. It's not a fool. Anyone superpower with profound use water- and we hear that really high temperature in a small microwave forward like in the kitchen
temperature, like some surface damage from the muzzle to believe the thrust, and basically we also Salem the solar energy,
the intellectual soul and energy to the losers under.
somebody bought of white- I mean yes, we have a good,
additional whither, but you know it's still like this politicians know very accurate after thirty four days.
You're going to like a week and folders like a technical, more those, but we cannot predict like to do what we cannot predict. Actually, the damage forget culture, so we still in the very early days of creative, looks like a layer of
like a digital reality of the physical world,
was the layer of until another level of intelligence that we can use for sure
now like a she was. This item was cars, with like a lot of admiration like for in a negative action for us that he was almost like a problems of his children of the climate. We need precisely to know. What's is aware, like one piece of the raw discovered was
is what is a fork? What does the moisture content this piece like when the fire ignite in this part of the forest we need to make?
and it's not actually bidding me so many ways how you can click the little information, because you cannot fight the rights everywhere that nations you can put surfers annual, but we can be in space and we can put the sensors in space.
basically colleague, doesn't formation and finally, digital copy of the course of that can solve many problems and save a lot of life of the people
This is a way will now, as this is a hundreds of the companies which are building different, different you'll wake up business models, different constellations to to do
from things like him off to collect. Given us information, we wanted
look in a space. You probably think there's only like a space x and steadily and goods perceptually sure to everybody is possible to do, but now want to produce this everywhere, and I think you Nick
about new space that you can find this company everywhere in the world, one of the largest produced
Michael satellites it with you, the gambling
which building worker emissions,
hi Dissolution Poland,
a company like suddenly the stories abominable data alleged in in more than one thousand America
constellation of the satellites position in Argentina
because others am always school and we we basically enable we. Our goal, is to make the deployment of this business is cheaper and more efficient and deployed satellites, because finally, it helps us to understand what's happening on earth.
an animal life of everybody says it's almost you're saying that we can increase the quality of life on earth by having this new layer of intelligence people all
now see this is possible that there's a new space raise its not just to get places is the
these lights out there. So we can have these services that can change the quality life from whether does to business
anything out there? All these countries are going there and the blockages been cost, but now
billions are hundreds of millions. You are now starting to doubt or cost levelled that people get either because your cause, the solo, so tell me,
One more question: what is
water proposer. Why is it so important and bigger
everything we're doing memory for today for efficiency and cost and safety, but also
or travel through humanity going forward where the sources of water that allow us to continue to go there, whereas we are unable to put in a fuel in something right now, at least
traditionally to be able to go through
for solar system are beyond inefficient financial, where
yeah. I mean I think this is the beauty of this approach is left with short term and long term weaker advantages, the short term,
because the use of water supper buildings if allow us to build the vehicles in a really was not because we talk of discouraging. Thank you
Or we don't just like these usually go proposal.
Mozilla extremely expensive subsidies under the high pressure and everything was very expensive.
In the longer term. Again. These are the hydrogen, is the most common
Meanwhile, in the universe and the most common oxide in unleashes a water, it's outside of hydrogen and there, the water is everywhere
and so what all alike are using? All the water was discovered on the moon, because everybody was thinkin moments. It basically barren desert, like it's a dry mass in the lake, but now we know that in this creators near the pool of the moon is there should be no some dinner sometime. So what am I gonna split? It light celestial body so, for example, to fly from earth in order to deliver one party.
to start with a hundred pounds, because it is granted we're on the very bottom of the gradual and when I was a child. I was thinking what, if our gratitude between two percent higher than on earth, we wouldn't be ever have a space age because of chemical wouldn't be able to deliver incidents
These are an oil like you that we are all these really Williams age of the actually contributed, so the chemical Rockets to deliver something to space but promote its.
Jesus you get about one point: four million to study the toolbox motors interracial governs, maybe look
was one small, celestial body, and you can do to stop this.
Please you, the more modest our future like oil. Well, since it is our future, like a source of others, profound for the exploration of the solar system, and this clause is here
of these waters. Look away some meat in a similarly creators, maybe dozens creators- and this is the
It should in some of the new space ways, because people more that these play is probably the most expensive real estate and solar system. Now here
the moon and the citizen? Why now, instead of the trees between Soviet Union and United States? Now it's a between the United States and China is water. First
Yes, it's also interesting, as I understood years ago, was one of those pioneer companies bill that was it
gonna mine asteroids and are building their own spaceships, but the cost. The ban was so high that they lost that raise the money at a seller, decked out better people, but these out
roads out mature?
is there an earth, extremely rare,
for a really expensive and they're not run these asteroids. Others there's a race for that as well.
The finnish, absolutely with your first commercial wants, is just around the corner. How are you able to as a business your customers like NASA and Lockheed Martin cathartic that'll, struck before anyone with large vision? Did you better yelling its differences, greeted him a person is like look marking and NASA, but I think we are likely to have a lot of clients of stops. I told they go. These companies will be the next Google's discussion will be next Amazon space because recently to complete a Laker only when you start from scratch- and it's like masses is agreed organisation, its push you money just so much worldly Exxon stuff around and look at marking. It's like the company was a deep culture,
The very important financial defence on footwear recently, but when you took him like where the new things can be emergence from these new companies- and I think I got our main treasure actual dislike, it start. That is where we can be
these countries will become large, maybe not over that maybe like a lion for Eastern will fail and I will try and make an excellent and we want to make them also to fill of cheaper, the first of which also importance
Spaces of wrong, why I wanted people to hear your story not only because of the vision and size of the scope and what you bill and what,
I ve learned along the way, but also for investment purposes in other markets,
you know you could have gone back and invested in Amazon, and then I d nineties, if you could have been in a position where you gonna just
the internet even before that the opportune
the greatest just in saying I could change and have a person's life if they can understand that and have some bats in this area, and this is
a marketplace? It's just beginning its pioneering place, but you're a credit,
well positioned could show these really large players that want to play with you. But you, like you, said all these companies that are starting to grow where at the beginning of the beginning, at the beginning of this process- and you really-
waste yourselves Malea by what the technology develop a really guardian and respect your brother. Thank you do that.
so you're finished as Olaf has come back to you dig in so many beautiful lessons here from people really living it. Not people just talking about it, but tell me
Just a ramp up, you know parted. Why we're all here is because of our relationship and when the people you have attracted
prime movers lab, and I brought you a couple as well that we work
Did you really famous found was company for what
what are you looking for a meeting
touch a little bit about.
Angel investor work might have already familiar with it and what
opportunities, one of the challenges with angel investment as a whole for people that have been hearing about these companies. So they have an understanding of how you started out in what were people can build with
Our or mission boils down to investing in break your science. They can transform billions of wives, and I think these are three of the fifteen companies through investigating fun one, and we ve got another thirty and fund two sorts of its good Mexico.
Many many different areas
I'm really. The mission is, how do we make people's lives better and it starts at a micro level? How do we make these entrepreneurs success? Why do we make them enjoy the process of building these companies which translate
to the kind of huge impact for a hearing on our civilization, wide level.
from an angel investing perspective. I mean you, you teach people kind of a business mastery that is important to have
investments in on correlated assets and early stage. Private companies are extremely high risk, but also extremely high reward, and it's an important part of sophistical
investors portfolio- and this is not for somebody- Who'S- got
a million a million dollars or something total of savings. This is many millions or even tens of millions of dollars of savings at the point which you can really afford to cut big enough investments into early stage start ups, that it makes sense to be investing in them and building a diversified basket because you're the mistake people make here is that we must invest in one company because it's their friends company and that's a good starting point, but you need to have a well diversified portfolio, even within your startup investing. So that's why you know using radar LEO's principle of fifteen on
Related deaths gives you an eighty percent reduction in risk with an increase in upside. We we ve got a number of different companies, cause you at the end of the day, every single idea. When we hear thousands of ideas a year
every single one of them is actually good idea is going to happen at some point. The question is when and
we're not gonna, be right on every single bet that we make, but because we're making timing that's across a wide range of areas. Energy transport
Should infrastructure, manufacture, we'll be right on a couple and those coupled drive all of the returns early stage investing. So if you look at my personal angel port boil it up seventeen accident
seven years and is basically to companies out of a portfolio over more than a dozen the drive all of those returns and that's better always looks in venture capital. Is power? Law returns
where it it doesn't matter what the fourteen other of the fifteen companies do. It matters is the top one, a fifty acts as a hundred acts as a tuna fish
x. Is it a thousand acts and were really fortunate, because the great work that bill and Macao Jason and you- and maybe it could actually doing that we have
number of Madeira well at their yeah, said to hazard,
and what would you just said that I share with you a while ago from listening?
daddy. I was actually a conference. It was them for all you, gotta, be a billion, are to be their prey
sitting on his by Gb Morgan and when he said that someone asked me a question that I did ask questions about my uncle,
ass. He had seen its meaning for those around familiar. Everything ties with Islam.
Market does not work goes down. Everything goes down right, so you want things there that correlated and weak
local that statistic there is like there's a murmur and the Roman was such an interesting piece. You getting
freeze your return, while reducing arrest by having those on Corleone assets about ratio,
figures out? What do you want people to know about what it means
text to be an entrepreneur, what do you want people to know about what it means to work on things that can change the world? I want to finish the last word music. I think we're heading towards a world in which many people are going to be entrepreneurs. Most people are going to be entrepreneur,
and really we're going to be playing the game of work for the fun of it and the joy of it and what we can create for other people, not because we need you and that's that's a beautiful and exciting thing, and that's that's where worlds, both externally and internally, open up when we have that kind of freedom to work on the things that are most meaningful to us
I am glad that the I get to work with entrepreneurs who are so inspiring and exciting. I hope that everyone takes a step on that journey in whatever form it takes for them,
Well, for all those who are still with us, I hope it will you got them is my goal.
doing this was to make
create a moment of excitement him you, where you think about
future in a different way. Will you don't just listen to the news which every day is droning on and on
agenda. Its agenda is not harsh, wanted system, an agenda that there's an economics to that news, and fortunately, and so
baby has rarely interrupt you. They have to be pursued. You have to look for them, so our goal here is put you in front of those tools that can give you a greater sense of what's happening the world both
can be a first mover yourself, a brass make use of those things that are valuable for you. Secondly,
we all need to become investors. You can use an apple phone, you can own part of apple, I'm a reason. So many people suffer financially is not because the opportunity isn't there is actually more enough money. It's because
They are consumers there, not owners
there's anything I hope this will get. You do this think about the future in a new way to excite you, they get you through the temporary ups and downs of the issues,
computer, racism, they're, all real issues, but there's
humanity is greatly humanity, cats, all those who have already said, but also
if you want to participate in helping those
people that are working on the cutting edge of increasing the quality of life for all people. You can begin owner with them and you can prosper as they prosper and helping million
stands millions. Hundreds millions are perhaps billions of people. Some hope. This is
sparing view of your entrepreneurial. I hope you listen to some of the great lessons that these
Twitter is a given us by take,
a couple hours there time to just share from the heart
They ve learned our thank you. Bill grows most successful, nobody growing companies and nothing over a billion. These already got seven melons them at it. Here. Listening, it looks like you, ve got is denying the maybe ten point on the way the gale,
what you're doing to open space Jason for what you're doing, to help us and make Brooklyn of farming environment, but hey place, be a farming environment with both, as you said, Molly, cheaper cars and better nutrients but delicious, and they
in four year incredible pioneering efforts to pull together such great entrepreneurs. It's been a pleasure to spend time with all of you again, I lobby, I respect you and for all your own. Thank you for joining us again for the tiny runs by gas till we see assume with strong it with passion, and God Bless
paternity others podcast is directed by twenty robins produced by the tiny ones team copyright Robins
Transcript generated on 2021-02-03.