Why did the co -founder of the disposal jump from social media to steel making

Daniel Les, co -founder of the social network disposal and dating app teaser AI, is convinced that the next thing is: Steelmaking.

All this began in controversial, with some upper AIDS that he wrote for a tech crunch about the implementation of anti -trust in social media.

Les told Tech Crunch, that some people in Washington DC apparently attracted the attention of it, and as a result, the guest judge was invited to a war sports Capestone exercise in the spring 2023 organized by the National War College. The game of war was a lot COOTThere is a scene in which the United States and China have struggled to supremacy over Taiwan and South China.

Les’ to be far from exercise? He said, “Our basic supply of weapons of democracy, in China-opinion, the ships that my grandfather fought-we do not have the ability to ship. If we do it, we do not have the steel to make it.”

At that time, Les said he was “really interested in the steel supply chain – madness, even”. “It was really the birth of the growth industry.”

The basic pitch for NIGHT IndustriesThe latest launch of lace, looks like it was made from two very American problems, steel making and AI’s van diagram. The company, so far, has been working in the stealth, but Les let the Tech Crunch look behind the curtain.

First, the clear part: Nim will use AI to improve the manufacture of pig iron, modernizing an industry that lace has said it is badly old. “These plants are running on the best, Excel spreadsheet,” he said. The worst, clipboard technology. ” He added that those who run them have “incredible skills”, but this is something that is not well.

But lace growth is not pitching like just another piece of industrial software. In fact, Nam is planning to build its furnaces. The decision was run by the belief of the lace that from the beginning, the AI -use companies would be “20 % to 30 % margin benefit” compared to competitors.

In steel making, such punishment does not come cheaper. The Hyundai Motor Group said in March that it would build a $ 6 billion steel plant in Louisiana to supply its factories to the US growth plant, which could not be high as its operations would focus on pig iron, which is an intermediate product used by steel makers to make different compounds.

The growth will dismiss its furnaces using natural gas, which releases less carbon dioxide than coal, which is commonly used in the iron and steel industry. Les said the company is considering seizing the carbon pollution of the kilns. He said that the tax concessions introduced under the inflation reduction Act are largely intact, and they make growth profitable for a neemo.

Michael Dobos, a lace partner in Nim, is an investor, who previously worked in Chennai Energy, a natural gas company. “It has built billions of dollars in the LNG infrastructure,” Les said.

Startup will need such a scale if it is successful. According to the pitch Bok, Nam was earlier collected .22 million, and currently with existing investors is being discussed with existing investors to collect 100 million series A with existing investors, the person familiar with the matter told Tech Crunch. The man said the company has also received more than $ 1 billion in concessions from two southern states if the company can make three plants in 15 years.

This is a long order to deal with someone, but Les said that if the steel industry is going to provide the desired returns by investors, such a desire is needed. And, he added, basic industries like steel have historically won a huge investor.

“When you look at the history of our country, many great companies who outright the results for their early investors were in their types.” “Finally, what was the investment in rockfellers and carnivals and melons and frequencies? The dollar is so large in these categories.”