Jason Badeaux

We have never seen energy technologies like solar and wind before. For the first time in history, we can manufacture the generation of energy. Once built, solar and wind equipment cost very little to operate. In other words, they are basically zero marginal cost electron sources.

The core strategy has unique elements at each level of the ecosystem: overturning the core product architecture, positioning themselves in key bottleneck components, and resolving system-level limitations that slow the adoption of the technology. At the same time, they have applied an effective approach to build their innovation capital so they can... See more

More so than crypto mining helping the grid, there will be more and more industries with high-electricity operating costs looking to use the cheapest, cleanest energy available. Colocating these high power users with the clean power plants helps create more demand for clean energy, without making interconnection queues worse or requiring more... See more

Tesla’s cell constraints are likely to continue over the medium term. Because its most profitable use of cells is likely to be in electric vehicles, we do not expect Tesla’s energy storage business to drive enterprise value meaningfully during the next five years.

Autonomous electric ride-hail vehicles should benefit from much higher utilization rates than human-driven cars, not to mention lower labor and insurance costs. ARK estimates that, at scale, an autonomous electric taxi platform could price rides profitably at $0.25 per mile. As a result, autonomous rides could cost less than personal car... See more

Each energy transition has enabled massive improvements to existing materials (wrought iron and later steel made using coal), created entirely new materials (polymers from oil-refined petrochemicals) and/or made low-cost manufacturing viable at scale (aluminum using electricity).

History is littered with examples of incumbent leaders who do not adapt to shifts in innovation from its competitors. Nokia’s failure to respond to Apple’s smart phone technology is an example.

A corporation making central planning decisions and compensating its stakeholders at its discretion will never be as effective as a properly designed permissionless network that scales and compensates its most productive actors using the free market’s conceptions of supply and demand.