The goal isn't to use less energy, or even to just replace fossil fuels. The goal is vastly more energy, to help more people live better lives, and to make it all clean.
In terms of its function on the grid, the best way to think of Form’s battery is not as storage, but as the equivalent of a carbon-free natural gas plant. Rather than methane, it runs on renewable energy as fuel, but from the grid’s perspective, it provides basically the same service, which is reliable, dispatchable generation that can run for 100... See more
Financial assets are promises to trade certain things in the future, if certain events happen in the world. The financial system is the market for promises.
Guilt and shame don’t and won’t change anything at scale. There simply aren’t enough people willing to buy more expensive products nor companies on board with overpaying for sustainable materials just because they feel bad. Cheers to consumers and companies that spend a little more to choose options with climate in mind. You’ve undoubtedly helped... 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).
As I noted in Understanding Token Velocity, the V in the equation of exchange is a huge problem for basically all proprietary payment currencies. Proprietary payment currencies are, generally speaking, susceptible to the velocity problem, which will exert perpetual downwards price pressure.
He also uses what we call “impression amplifiers” to get stakeholders on board. For example, when Musk stands on stage and reveals the Cybertruck, he doesn’t just talk about the new idea, he materializes it, putting it into physical form to convince skeptics (he also did this when he parked a Space X rocket in front of the National Air and Space... See more