Quantum, space, fusion: 3 firms engineering the future
Short Briefings on Long Term Thinking - Baillie Gifford
What we look for in private companies
Luke describes seeking technological innovation paired with scalable business models for durable competitive advantage.
Three technologies – quantum computing, reusable space rockets and nuclear fusion – could change the trajectory of human progress. Investment manager Luke Ward explains how a trio of private companies are bringing them closer to fruition.
Background:
Luke Ward is an investment manager in Baillie Gifford’s Private Companies Team and recently became co-manager of the Edinburgh Worldwide Investment Trust.
In this episode of Short Briefings…, he discusses three companies developing groundbreaking technologies and building innovative businesses as they do so:
- PsiQuantum, which aims to create the world’s first useful quantum computers
- SpaceX, which is well on its way to developing the first fully reusable space rocket, with a view to ultimately transporting people to Mars
- SHINE Technologies, which is commercialising applications of nuclear fusion on the path to delivering a clean and safe energy source for the future
Among the topics Ward covers are how photon-based quantum computers could drive progress in agriculture and batteries, among other industries. He also discusses how the Starlink satellite broadband provides a stepping stone to SpaceX’s larger ambitions. And he explains how SHINE’s work on detecting flaws in mission-critical aerospace components and making a new cancer treatment possible bring it closer to harnessing the reaction that powers the sun.
Resources:
PsiQuantum: making the leap to quantum computing
SHINE Technologies: an interview with chief executive Greg Piefer
SpaceX and other private company trailblazers
Starlink: broadband from above
Edinburgh Worldwide Investment Trust
Companies mentioned include:
Timecodes:
00:00 Introduction
01:50 From mechanical engineering to investment
02:55 Technological innovation informing business innovation
03:45 Quantum computing versus the ‘classical’ approach
04:55 Using quantum computers to disrupt chemical fertilisers
06:10 PsiQuantum’s semiconductor supply chain advantage
07:20 A photonic approach to computing
08:05 Signs that PsiQuantum could succeed
09:45 PsiQuantum’s potential business model
10:30 Partnering with Mitsubishi Chemical and Mercedes-Benz
11:35 SpaceX: satellite launches and advanced rockets
12:35 Starlink’s high-speed internet from orbit
13:40 Connecting smartphones directly to Starlink
15:05 The investment case for Mars
16:55 Leading Baillie Gifford’s SpaceX investment in 2018
19:35 Considering other space industry investments
10:21 Nuclear fusion v fission
22:25 SHINE Technologies’ stepping stone approach
23:20 From advanced imaging to radiopharmaceuticals
24:15 Clinical trials for prostate cancer treatment Lutetium-177
24:40 Recycling nuclear waste
25:50 Saba vote: giving the public access to private companies
27:35 Investing in geothermal energy
28:30 Seeking inspiration in Silicon Valley
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