Delian Asparouhov, co-founder and Chairman of Varda Space Industries, talks about microgravity manufacturing, space industrialization, and future business models in space. The podcast also covers the role of media in shaping public perception of technology and the qualities Delian looks for in founders. The chapter on building a company discusses the importance of culture and cementing its trajectory, while the 'obsession with speed' chapter reflects on impatience and desire for accomplishment.
Industrializing space is crucial for our future as a multi-planetary species.
Manufacturing in microgravity has significant advantages for solid-state manufacturing, particularly in the pharmaceutical industry.
Varda's long-term vision includes creating an industrial city and park in orbit.
Building a team with the right skill sets and focusing on strengths are key factors for success in business.
Deep dives
The Industrialization of Space and Varda's Mission
The speaker emphasizes the importance of industrializing space to become a multi-planetary species. They highlight the need to build economic value along with starships, compare it to the industrialization of railroads and shipping in the past, and acknowledge Elon Musk for his contributions. Varda's mission is to expand the economic bounds of humankind by building spacecraft to manufacture materials and pharmaceuticals in microgravity.
The Benefits of Manufacturing in Microgravity
Manufacturing in microgravity, as demonstrated by previous experiments on the International Space Station (ISS), offers advantages for solid-state manufacturing. It allows for better control over crystal structures and maintains a more uniform distribution of crystal sizes, leading to consistent drug breakdown and dosage. This enables more efficient pharmaceutical production and can potentially provide patients with syringes instead of requiring regular clinic visits. The improved control over chemical systems in microgravity also has implications for other industries, such as fibropic semiconductors.
Varda's Path to Scale and Industrial Park in Orbit
Varda's initial focus is on small satellites for microgravity manufacturing. As the business grows, investments in reusability will be made, starting with the reentry capsules and gradually making the entire space factory reusable. At scale, Varda envisions aggregating all satellites into a single location in orbit to facilitate maintenance and refurbishment. As Varda continues to grow, it anticipates attracting a human workforce to operate the industrial park and develop increasingly automated pharmaceutical manufacturing in space. The ultimate goal is to establish an industrial city and industrial park in orbit.
The Limited Scope of Viable Space Business Models
Currently, the incubation and investment focus is primarily on three space business models: space manufacturing, space strategy, and servicing and movement. These models align with the areas of interest and expertise of the founders. The incubation model at Founders Fund differs from a traditional studio model in that it is not the firm's core focus and relies on individual investors with strong conviction in a specific venture. The suitability of an incubation is determined by factors such as lack of alternatives, alignment with the investor's investing interests, and capital intensiveness of the business.
Building the Perfect Team
The speaker emphasizes the importance of building a team with the right skill sets for different areas of the business, using the analogy of casting a movie.
The Role of Media in Technology
The speaker discusses the impact of media on technology perception and how biases and misinformation can affect public opinion.
The Importance of Self-Awareness
The speaker highlights the significance of self-awareness in recognizing personal strengths and weaknesses, and the importance of focusing on one's strengths to achieve success.
Delian Asparouhov is the co-founder, President and Chairman of Varda Space Industries, a company building spacecraft to manufacture materials in microgravity that are difficult or impossible to produce on Earth— starting with pharmaceuticals. He’s also a Partner at Founders Fund.
Previously, he was a principal at Khosla Ventures, head of growth at Teespring, and founder of a healthcare company called Nightingale. Delian is Bulgarian, attended MIT, and likes to ski and play soccer.
0:00 - Intro
3:14 - How Does Innovation Happen?
6:23 - Varda and the No Science Allowed Rule
7:52 - A Primer on Solid State Microgravity Manufacturing
18:25 - Space Industrialization, Trading Posts, and the Chinese and Portuguese Navies
21:13 - Economic Incentives and Future Business Models in Space
24:24 - SpaceX and The Costs of Mass to Orbit
27:45 - Demand for Space Manufacturing and Varda at Scale
33:44 - Manufacturing, Servicing, Machining, and Future Markets for Space
36:42 - Incubating Companies
40:33 - When Would Varda Have Been Started Otherwise?
42:19 - The Hollywood Model of Startups
45:20 - Future of Incubations
47:47 - Media’s Role in Technology
50:39 - What Media Inspired Varda’s Founding?
52:38 - Talent, Culture, and Cementing Company Trajectory
53:57 - Narratives and Talent Recruitment
55:28 - Traits Delian Looks for in Founders
57:38 - The ‘Why Now’ When Investing
1:00:08 - Bring Non-Consensus and Right
1:02:53 - Is Varda Consensus Yet?
1:03:24 - Identifying Non-Consensus Opportunities
1:05:12 - Lessons from Founding and Investing
1:07:40 - What Skill Do You Wish You’d Developed Earlier?
1:10:11 - Immigrant Mentality
1:11:24 - Less Obvious Reasons for Success
1:12:55 - On Speed
1:14:23 - What Should More People Be Thinking About?
