Ignite VC: Rethinking Venture Capital Through the Lens of Deep Tech with Pablos Holman | Ep49

In this episode of the Ignite Podcast, host Brian Bell engages in a profound conversation with Pablos Holman, founder and managing partner of Deep Future, delving into the realm of deep tech and the transformative power of invention. Pablos, a seasoned innovator with a background that includes working on pioneering projects like cryptocurrency in the 90s and co-founding Blue Origin, shares his journey and insights into the tech industry's evolution. He critiques the industry's overemphasis on software, arguing for a broader focus on solving significant global issues through deep tech. Pablos outlines the mission of Deep Future: to scout and support the "mad scientists" and inventors behind groundbreaking technologies capable of addressing monumental challenges. He discusses his transition from a software-focused career to leading ventures that aim to harness technology for substantial societal impact, reflecting on his experiences with Intellectual Ventures and the inventive endeavors that span from mosquito-zapping lasers to advanced nuclear reactors. The conversation shifts to the current landscape of venture capital, highlighting the need for a return to ventures that embody genuine risk and innovation, as opposed to the proliferation of software applications. Pablos criticizes the tech industry's narrow focus and calls for a reinvigoration of the spirit of invention, underscoring the potential of deep tech to significantly advance fields like energy, healthcare, and environmental sustainability. As they explore the future of technology, Pablos expresses cautious optimism about certain sectors, such as solar energy, while maintaining skepticism towards others, like quantum computing, due to their nascent stages and uncertain pathways to commercial viability. He emphasizes the importance of distinguishing between ventures that are ready for capital investment and those that still require foundational research. The episode concludes with a rapid-fire session, offering personal insights into Pablos' inspirations, the technologies he wishes existed, and the profound influence of hacker culture on innovation. This engaging discussion not only sheds light on Pablos Holman's visionary approach to technology and venture capital but also inspires listeners to consider the broader implications of their work in shaping a better future. Chapters 00:00 Introduction and Background 01:07 Interest in Deep Tech 04:04 The Need for Invention 05:51 Intellectual Ventures and Deep Tech Invention 09:14 Venture Capital and Deep Tech 11:03 Moon Shots and Societal Impact 13:28 Advancements in Deep Tech 14:10 Evaluating Opportunities in Deep Tech 21:45 The Importance of Startups in Innovation 25:18 Creating Value in the World 29:39 Bullish and Bearish Trends in Deep Tech 30:36 Categorizing Technologies 31:06 Quantum Computing 32:20 Venture Capital and Commercialization 33:28 Government Funding for Research 34:12 Challenges of Quantum Computing 35:05 Potential of Classical Computing 36:11 Misconceptions about Quantum Computing 36:27 Bearish on Space Tech 37:41 Challenges in Space Markets 38:14 Space-Based Solar Power 39:04 Mining in Space 41:49 Importance of Solving Market and Technical Risks 43:15 Favorite Gadget: OQO 43:42 Technologies Wished to Exist 44:49 Biggest Inspiration: Douglas Adams and John von Neumann 45:56 Computing in Different Universes 47:08 Mathematics and Computing 47:57 Unexplained Source of Innovation: Hackers 49:25 Entrepreneurs Tackling Actual Problems 49:46 Favorite Book on Innovation or Technology 51:18 Advice to Younger Self: Be Around People Who Know More