Project Status Report ‘22Q2: What Comes Next.
Burndown Achieved! Progress Still Continues.
- Founders Remarks
- Current State
In summary, what a year. Burning out as the funds burned down was a crushing experience but it isn’t the first time and it won’t be the last — I truly thought I had made it with 145 shares sold, a (twice rejected) academic paper downloaded 250+ times, a hundred podcast listens and an angel at my side. Not quite.
The clarity that comes from stepping back and taking the past two months off is astounding. I pursued my strategy relentlessly but ultimtely this is a business that is solving the next problem after the current set is addressed. That requires an angel of angels with a commitment to a 30 year vision — big ask but I struck gold and found one from all my efforts in the past year. The tech industry is suffering a tremendous downturn, financial markets are like nothing ever seen before (did you know 1 in 4 in all USD ever printed was created during Covid!) and the space industry is going through a much needed contraction.
Despite all this, running out of money and watching the crypto markets tank (I’ve been in since 2016, nothing new) then needing to sell vastly reduced the capital to make rent and get groceries (instead of buying a modelling machine) has only galvanised my resolve. This isn’t the first market crash and this is a 30 year plan so chances are we will see another one or two. The goals remain the same. but the plan is more focused now. 1. Get research published. 2. Refine the business plan to be watertight. 3. Get a PhD in physics (or propulsion engineering).
With legitimised scientific credibility and all the work ready to take on customers, we can then approach VCs with the right question: “We have a product, prospective customers and a chance to scale wildly, any advice?”.
There is no money left. I never expected to have to use it for rent but such is life. I have taken on a new role as a Blasting Engineer for a premier Australian company and am so excited to be back in the mining industry, turning big rocks into little ones really quickly. Did you know ~60% of a mine sites energy goes into rock crushing? When considering total system efficiency you can do great things with great blast design — but I digress.
The 8 days on / 6 off schedule allows me to maintain my focus, maintain an income and develop the Matlab model. Using Simulink Multiphysics engine I will conclusively prove the products functionality and submit my preceding research for entry into a doctorate program. With legitimised scientific credibility, I won’t simply be someone with a wild idea, the story will change to ‘what will those crazy scientists come up with next?’
Mining asteroids in 2040, thats what.
Thanks for reading and get in touch on LinkedIn if you’d like to chat about the past year or progress that I am making!