I Built $200M Nuclear Energy Startup at 19 | JC.B, Fuse
JC B. is the founder and CEO of Fuse, a pioneering fusion energy company. He started Fuse at just 19 years old, and by age 23, he has grown it into a $200M-v...
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Intro
- 00:00Fuse. We're on a mission to accelerate
- 00:02the world's transition to fusion energy.
- 00:04One of the only fusion companies that's
- 00:06actually making revenue. Started a
- 00:08company almost 6 years ago now. I was 19
- 00:10at the time. Yeah. Never went to
- 00:12college. I never even submitted an
- 00:14application. Why do I need to convince
- 00:16an admission officer to like let me sit
- 00:18in a classroom for 4 years to then get a
- 00:20piece of paper that says I can
- 00:22potentially do something versus just do
- 00:25something and prove you can do it. life
- 00:26is too short and there's like 7 billion
- 00:28or more people on earth. So you just
- 00:31always ask yourself like why am I doing
- 00:33something that actually matters or like
- 00:35how can I contribute and I felt that
- 00:37there's a a real way to contribute to
- 00:39work on something that could be um
- 00:41civilization altering starting company
- 00:44was the fastest way to make progress I
- 00:50thought I'm Jes I'm the founder and CEO
- 00:54of fuse we're the only fusion company
- 00:56that has delivered experimental results
- 00:58of a new technology ology that was no
- 01:00one has built it before and published
- 01:02the results in nature. We've raised over
- 01:05$50 million of capital. We work with the
- 01:07US military and US government. March 13,
- 01:10we we've proven the machine at scale and
- 01:12now we have contracts to commercialize
- 01:17[Music]
Stop Wasting Time In School
- 01:20it. My father's a nuclear physicist, so
- 01:22growing up was just very curious about
- 01:24how the world works. You know, I've
- 01:26always liked to work on hard things and
- 01:28explore research topics. And then I very
- 01:31quickly learned that maybe spending time
- 01:33in academic environment was not the
- 01:35fastest way to make progress on
- 01:37technology. So that's why I decided to
- 01:39start you know my own company. I had
- 01:41started a nonprofit in education. The TS
- 01:44as a teenager things it was really hard
- 01:46to you know build things. It's you can't
- 01:48even get a credit card as under 18 which
- 01:50is you know pretty funny. you know, you
- 01:52cannot open a Shopify online store if
- 01:55you're under 18, which is kind of
- 01:56ridiculous considering all the other
- 01:58things you can do. So, I started a
- 02:00nonprofit to essentially liberate
- 02:02teenagers to dare and and to create. And
- 02:04we were funded by Google.org, the
- 02:06Canadian government, and and others. And
- 02:08we built that into pretty uh successful
- 02:11program. And we had some teenagers that
- 02:13now are off to doing great things. What
- 02:15I've done to date is a good example for
- 02:17others to realize that it's possible. If
- 02:20you really want to build something and
- 02:21you truly have the grit and tenacity,
- 02:23you can. A lot of people, you know,
- 02:26being young is has a competitive edge
- 02:28because you're naive and you've got a
- 02:29lot of stamina and energy. Definitely
- 02:31those early wins give you an early taste
- 02:34at freedom. You know, choosing to start
- 02:36as early as possible maximizes, you
- 02:39know, your chance at getting it right.
- 02:40And even if you fail, you make you burn
- 02:42yourself a little bit, as long as you
- 02:44don't die or don't go to jail, I think
- 02:46everything else can be tolerated and
Build Your Own Playbook In-House
- 02:54repaired. You know, I felt that there's
- 02:56a a real way to contribute to work on
- 02:58something civilization altering like a
- 03:01civilization scale and and history.
- 03:03every technology progress or
- 03:05civilizational development has been tied
- 03:07to like how much kilowatt hour is
- 03:09available per capita. So when you think
- 03:11about the industrial revolution and how
- 03:13that enabled the whole human prosperity
- 03:16and and technological advancements and
- 03:18you can tie that to coal afterwards and
- 03:20chemical era and I believe that fusion
- 03:22would unlock the next level of human
- 03:24prosperity you know the rise of the
- 03:27social middle class the rise of AI of
- 03:30quantum technologies like all of those
- 03:32critical technologies they need energy
- 03:34and without energy we can't have AI like
- 03:36how would you power all the data centers
- 03:38do you want it at the cost of people not
- 03:40being able to turn their lights on at
- 03:42the house. I don't think so. And so we
- 03:44will need significantly more energy and
- 03:46fusion is not the only ways to actually
- 03:48make that. So Titan is the world's
- 03:51highest power and highest energy
- 03:52impedance match Mars generator of its
- 03:55kind. What that matters to think about
- 03:56it as a giant battery that releases all
- 03:59of its energy really fast like in a
- 04:01billionth of a second. It's a very
- 04:02important question to ask. Is this a
- 04:04scientific nonprofit or is there a
- 04:06business here? cuz a lot of time people
- 04:08solve are building companies and I I
- 04:10wonder if that's better to be like a
- 04:12scientific research that's like
- 04:13nonprofit funded or grandfunded versus
- 04:16is this a business or a real company.
- 04:18Then the second is like really to
- 04:20question the fundamentals and what we've
- 04:22done for Titan was built in-house like
- 04:24over 80% of the Titan subsystems and
- 04:26components were built in-house at Fuse
- 04:28and so we took on the project knowing
- 04:30that we have the capacity to solve a lot
- 04:32of the problems and we vertically
- 04:34integrated which meant that as problems
- 04:36were arising we were able to solve them
- 04:39inhouse. building companies like you you
- 04:41always are updating the operating system
- 04:43is like an app you know and you you have
- 04:45to constantly debug and upgrade the
- 04:47operating system and you need different
- 04:49version for every 6 months or so. So you
- 04:51know very intentionally taking time to
- 04:53be introspective and to think about you
- 04:55know what has changed now. This is not
- 04:56the same company that it was before.
- 04:58Obviously the core fundamentals are the
- 05:00same but you know the way it operates is
- 05:03is different and bringing the right
- 05:04resources you know around you. You know
- 05:06there's people who are really good at
- 05:08the early stage and then you need a
- 05:10different type of skill set and and
- 05:11culture for growth stage and bringing in
- 05:14different people at the right time and
- 05:16having the introspection to think of
- 05:17what needs to be changed, what bugs need
- 05:19to be fixed and how to upgrade the
- 05:22operating system for the next phase is
- 05:24very
Young Founder Should Seek These People
- 05:30important. Certainly the company has
- 05:32come close to running out of capital at
- 05:34few moments in time. you know we we had
- 05:36some you know technology that at some
- 05:37point you know did not go as we had
- 05:39planned or we had run out of capital and
- 05:41we had to make really hard decisions but
- 05:43you know these are the moment that
- 05:44really define who we are you know just
- 05:46building this connective tissue as a
- 05:48team and this resilience the one thing
- 05:50that has been really awesome is like I'm
- 05:52young myself but we've built a team with
- 05:54you know some really experienced people
- 05:56from different aspects uh of the
- 05:58government I had the fortune to work
- 05:59with some really smart people with some
- 06:02of the best people I've met fortunate
- 06:04enough that they're now part of one team
- 06:06and we're multiple vectors pointing in
- 06:08one direction and just if you're humble
- 06:10and you bring people that really can
- 06:11compleiment you that's a strength not a
- 06:13weakness. It's really important to be
- 06:15audacious and daring but also humble and
- 06:18it's your challenge to figure out how to
- 06:20overcome that will save you a lot of
- 06:22peace and help attract some great people
- 06:24where you recognize your weaknesses and
- 06:26vulnerabilities and build around them.
- 06:28that team is that mindset like most
- 06:30people actually want to be in
- 06:32environments where you know they're all
- 06:34contributing and learning from each
- 06:35other that's at least a healthy
- 06:37environment. We also really care about
- 06:39you know people who are just focused on
- 06:41getting done and you know getting
- 06:43the job done whatever it is versus know
- 06:45just talking. So we we have a really
- 06:47default for people who take agency who
- 06:50are autonomous and just want to get
- 06:52done who are really curious and third
- 06:54just give a you know like the
- 06:55people on our team really care. They
- 06:57stay up till 4:00 a.m. when we have a
- 06:59mission. They work on the weekends. They
- 07:01just go out of their own way to to do
- 07:03the job and like pick up the trash if
- 07:05needs be. You know, give a and care
- 07:07and just want to get done and just
- 07:09focus on that. I think you can get a lot
- 07:13done. It's It's actually really funny
- 07:15when people think that entrepreneurs are
- 07:17very big risk takers. I think like great
- 07:19entrepreneurs are really good like risk
- 07:21hedgers. Like the day you start the
- 07:23company, you've taken the most amount of
- 07:24risk and then your job all along is to
- 07:26retire risk and like choose very
- 07:28selectively which risk to derisk first
- 07:31and how to sequentially do that. for
- 07:33founders to think about risk mitigation
- 07:35as well as know equipping yourself with
- 07:37the right tool and most importantly with
- 07:38the right people.