01:21:59 · Jordi Hays, Kyle Schiller, John Coogan
[01:21:59] S0: Mhmm. What kind of pushback did you guys get on on the launch or or the video? And, like, how would you, you know, respond to some of the more common pushback? [01:22:12] S5: I I was pretty amazed how positive the reception was, to be quite honest with you. I think the vibes have gone really, really positive. I think we nailed the timing and the tone in the launch. And where we have seen pushback is mostly on these issues, like mercury materials compatibility that are just nonissue. Like, mercury is corrosive to copper. It's a good thing that there's no copper in Europe for '97. Okay. It's also a good thing that we have been operating with copper, like, in the nuclear industry for almost a hundred years. So in the nineteen forties, mercury was used as a coolant in nuclear reactors. Throughout the nineteen hundreds, it was used in, like, ACDC conversion systems that powered most of the London underground. GE has deployed mercury turbines. Even the super conservative European programs, baselined, like, their their default is mercury fusion power plants. [01:22:55] S1: Sure. [01:22:55] S5: And so what we're proposing is, like, radical from an economic perspective. The materials actually don't concern me that much. We'll have to do a lot more qualification from here on out. We address that in the video, but it is it is tractable. It is like a really highly tractable series of engineering problems.
01:22:55 · Kyle Schiller, John Coogan, Jordi Hays, Tyler, Thomas Wright, Joe Lonsdale
[01:22:55] S5: And so what we're proposing is, like, radical from an economic perspective. The materials actually don't concern me that much. We'll have to do a lot more qualification from here on out. We address that in the video, but it is it is tractable. It is like a really highly tractable series of engineering problems. [01:23:09] S1: So that's the that... That's the scientific pushback. The... For the person that was just, like, scrolling by and saying Yeah. Oh, they're making infinite gold. The critique was, like, you're not producing gold economically yet because you have to put more energy into the system. That has cost. And so That's right. Even if you're able... And and... But that is something that you've already addressed that you will be solving by scaling up the efficiency of the system. Yeah. I mean, [01:23:32] S5: it's true. We're really far away. That's why we [01:23:34] S1: have to go super quickly. So you probably spent, like, thousands of dollars to make, like, 1p of gold or something like that at this point. But then you double that and double that [01:23:41] S0: and double that. Yeah. [01:23:43] S1: You spend... [01:23:44] S2: Yeah. And there [01:23:44] S3: are always comments that are like, [01:23:45] S6: but but they would have to [01:23:46] S5: do a million times better. And it's like, yeah, man. That's that's [01:23:48] S1: a good Yeah. That's the goal. Just give us, you know, 40 doublings or something. [01:23:52] S0: Yeah. Say that about the models years '26. [01:23:56] S1: Yeah. Yeah. Yeah. You should be very inured to this concept of
01:23:56 · John Coogan, Jordi Hays, Adam, Kyle Schiller
[01:23:56] S1: Yeah. Yeah. Yeah. You should be very inured to this concept of [01:23:59] S0: You need to be oom maxing. [01:24:00] S1: Yeah. [01:24:01] S7: That's right. [01:24:01] S1: That's right. What is... What... What's the actual lab look like? You don't need to use any radioactive material. Right? So it's like a pretty safe lab to just walk around? [01:24:11] S5: We do operate this currently in Downtown San Francisco. [01:24:14] S1: Okay. [01:24:14] S5: And we generate a very tiny number of X rays, which we're able to shield with lead much like you get at the doctor's office. [01:24:20] S1: Yeah. So we [01:24:21] S5: have a radiation safety officer. We take diagnostics. We make sure that everyone's operating safely. Yeah. We will, at some point, have to upgrade from here. And much like the vision companies that set criticality in Idaho, we have a number of other facilities where we can go and do that next phase of scale up. [01:24:35] S0: Oh. And how big how big is the team? [01:24:37] S5: We're 30 people right now. [01:24:39] S0: Wow. Very cool. [01:24:39] S1: Well, congratulations. Thank you so much. Yeah. [01:24:43] S0: Thanks for sharing, guys. [01:24:43] S1: Bringing it down. [01:24:44] S0: We appreciate you. Come back on We'll talk to on the next Zoom.
01:24:44 · Jordi Hays, John Coogan, Steven Schwartz
[01:24:44] S0: We appreciate you. Come back on We'll talk to on the next Zoom. [01:24:47] S1: Yeah. The next Zoom. That's right. Yeah. Alright. Nice to meet you guys. Goodbye. Cheers. Let me tell you about the New York Stock Exchange. Wanna change the world? Raise capital at the New York Stock Exchange. Our next guest is returning to the show, Steven Schwartz from WAP, cofounder and CEO. Been on the show several times. Always a good time. It's some [01:25:07] S0: fresh fun. He's back. [01:25:09] S1: How are you doing, Steven? Good to see you again. [01:25:12] S9: Yo. What up, Jordy? What up, John? How are you guys? [01:25:14] S1: What's the latest? [01:25:15] S0: What's up, dude? [01:25:16] S1: Give us some numbers. Jordy's got two gong mallets for you. He wants to hit that guy. How much you raised? [01:25:23] S9: A little over 205,000,000. [01:25:25] S1: 205. [01:25:29] S0: I almost took it off the head. [01:25:33] S1: Sequoia and Shopify Ventures. What a great combination of strategic plus tier one venture capital firm. What is the... Is Yeah. Your your [01:25:45] S0: haters are in absolute shamble seeing that seeing that aspect. [01:25:49] S1: Do you see the Shopify partnership evolving in some material way, or is it just a meeting of the minds, you hit it off with Toby Litgate or someone else over there, and it was a purely capital partner?
01:25:49 · John Coogan, Steven Schwartz
[01:25:49] S1: Do you see the Shopify partnership evolving in some material way, or is it just a meeting of the minds, you hit it off with Toby Litgate or someone else over there, and it was a purely capital partner? [01:26:04] S9: I think that the spirit of this round of funding was really to surround ourselves with people that are going to level us up. And I mean, Cameron and I met when we were so young, and we grew up literally building businesses on Shopify day in and day out. And what Toby and the rest of the Shopify team have created is truly a work of magic. And I think people have a habit of underestimating small business, and they sure know not to do that. And I have a lot of high hopes for our partnership with Shopify, know, Toby is a world class programmer. Their site and platform are built in Ruby on Rails, same as us. We have a lot of commonalities and I think it's definitely only the beginning and we look at them far beyond just capital. [01:26:52] S1: Amazing.
01:26:52 · John Coogan, Jordi Hays
[01:26:52] S1: Amazing. [01:26:54] S0: Of eyes really incredible in that it's hard to know... It's hard for a company to be at that scale and have so few detractors. Like, there's like... On the merchant side, people are like... Every now and then there there would be some like mild issue, right? Like an outage. But it's like they have like the highest uptime of any Huge NPS. Like... Yeah. Like the NPS is crazy. And then on the on the consumer side, it's just like amazing. No one wants to go back to the Internet before. And they've been able to deliver a Shopify like, or sorry, an Amazon like experience without any of the things that people don't like about Amazon. And I think it's incredible and definitely, you know, having them in your corner is fantastic.