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from TradeBriefs FMCG Weekly

Sree Vijaykumar

From the Editor's Desk
If you don't know Sam Altman, you heard it here first. Along with Elon Musk, he is up there in terms of people I watch that are moving humanity forward. The 31 year old runs YCombinator (the most successful accelerator), which has over 11 unicorns among its graduates, including AirBNB, DropBox, Stripe and Instacart. When Altman took over from Paul Graham, he wanted to create a trillion-dollar conglomerate to move the world forward. And, he realized, "you couldn't have a trillion-dollar enterprise without major scientific advances." So he opened the batches to hard tech, studied the science and engineering problems such companies faced, and recruited the most promising ones. Altman helped to persuade Kyle Vogt, the C.E.O. of the self-driving-car company Cruise, to do YC in 2014; afterward, when Cruise had trouble finding funding, he invested three million dollars in the company. In March, General Motors bought Cruise for $1.25 billion. Altman had long wanted to start his own nuclear-energy company; instead, he had YC fund the best fission and fusion startups he could find. Then he personally invested in both companies and chaired their boards. Thousands of startups are devoted to social interaction, and fewer than twenty to fission and fusion, but, Altman said, "hard things are actually easier than easy things. Because people feel it's interesting, they want to help. Another mobile app? You get an eye roll. A rocket company? Everyone wants to go to space." When a YC enters "hard tech", that's exciting! The full New Yorker profile here

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