investment – Julie Fredrickson

I am in the middle of the Utah desert returning from a site visit to Valar Atomics. If you have the means to tour a nuclear facility I highly recommend it. It is so choice. That’s Ferris Bueller for the Zoomers.

I’ll use another choice line from the John Hughes classic to illustrate how gratifying it has been to drive a remote Utah town for a chance to see our investment in action.

Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it. – Ferris Bueller’s Day Off

We hadn’t planned to drive down to the Ward 250 facility after Abundance Institute’s Operation Gigawatt. Life is busy, it’s a holiday weekend, I’m flying out to part unknown from Montana in two days.

But what’s another three hours on the open road when there is one of America’s sustainable energy labs and a tour from your favorite engineers on offer? Yes they are all working this weekend. They have a deadline for July 4th that’s pretty important. It’s crazy that this wasn’t in my itinerary in the first place if I’m honest. What a way to kickstart the summer.

Getting up close to “our” reactor is a privilege I never conceived of experiencing. I’ve been lucky enough to invest in some very cool things over the years, but to actually place a bet on a serious industrial effort and have my choice end up at the forefront of a major national push for nuclear energy? Not a thing I saw coming.

So in the hustle of the moment, I am glad to slow down and admire that it is actually possible to do things. That’s a very nice day to have. Yes that’s a Day 69 joke.

I’ll treasure this moment forever. Even if we fail, at least we tried. And who wouldn’t want to put yourself on the line and try when it’s something that matters this much? So we speed up to slow down and see. Because it’s true if you don’t you might just miss it. So yeah it was a nice day.

It’s been a pretty fantastic few weeks for my investments. Decisions made years ago are now looking pretty smart. A bet I made two years ago announced a round and then proceeded to announce splitting the atom the next week.

Not to only focus on current belle of the ball in Valar especially as everyone in the portfolio seems to be finding their way. We are lucky that we focused on compute, energy, and decentralization as that is the trifecta of the artificial intelligence wave.

I honestly didn’t expect that we’d see such progress in our nuclear pick. With the regulatory climate it seemed more likely compute marketplaces and inference products would outpace the most regulated technology in the world.

Somehow during a Trump administration you get unexpected outcomes. I’ve been fighting for compute figuring the energy bottleneck wouldn’t get addressed till we had the full supply side of new AI products. It turns out everyone wanted to rush into capital expenditures and infrastructure as the demand was already there.

I guess I’ve proved my own thesis again. You can get a read on the direction and maybe even first order effects but in a chaotic world the second and third order effects are much harder to predict.

And on balance for all the bad I think on balance the atomic age finally arriving might be a worth while trade for our future. Hard to say if I’ll keep that opinion but I am grateful America is getting back on track with nuclear power.