The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
00:51:39 · Harry Stebbings, Alan Chang
[00:51:39] S2: How big is the biggest incumbent in this space? [00:51:42] S0: So you have the power incumbents, and then you have the big oil majors, right, incumbents. If you look at big oil majors, like Shell, they make a billion revenue a day, approximately. [00:51:53] S2: How big can FUSE be? I think we [00:51:56] S0: could be bigger than Shell. [00:51:57] S2: How much is Shell worth? [00:51:58] S0: I think worth just north of $300,000,000,000. They're listed on the London Stock Exchange, so there's a, I think, discount. [00:52:05] S2: How the fuck does that... I'm sorry. They do a billion in revenue a day Yeah. And they're worth less than their annual revenue then. [00:52:12] S0: Yeah. I think if if they were listed in The US, they'd probably be worth more. [00:52:15] S2: Would you list in The US? [00:52:16] S0: If we ever list, I [00:52:17] S2: think it would be The US. Yeah. Would you list? [00:52:20] S0: I personally don't see a need to. There's a lot of liquidity in the private markets. And obviously, there's additional overhead being a listed company. Like like, the only reason I see listing as a as a real need is if the liquidity dries up in the private markets. [00:52:34] S2: Do you let team members sell? [00:52:36] S0: Yeah. [00:52:36] S2: Revolut was very tight on any secondary sales. It was like incredibly guarded subject. Are you the same or are you a little bit looser?
00:52:36 · Harry Stebbings, Alan Chang
[00:52:36] S2: Revolut was very tight on any secondary sales. It was like incredibly guarded subject. Are you the same or are you a little bit looser? [00:52:44] S0: Well, would say like we do wanna create liquidity opportunities for employee stockholders. And sometimes people need to buy a house, they need to buy a car, need to... Yeah. Some liquidity is is helpful. [00:52:54] S2: Final one for you, dude. I'd like to end on a tone of positivity and optimism. What excites you most in the next ten years? [00:53:00] S0: We love to build a world where power is so cheap and abundant that any builder, AI or otherwise, don't even think about power anymore. And they can just build more and economies start growing again as a result. That'll be great. [00:53:16] S2: Alan, I so appreciate you. I think you're one of the great entrepreneurs in The UK. I'm gonna pass to you about investing. And I so appreciate our friendship. So thank you so much for doing this with me, dude. [00:53:26] S0: Oh, thanks for having me.
00:53:29 · Harry Stebbings
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00:55:58 · Harry Stebbings
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