Funding – How costly is changing the world?
Daryl Oster & Russ Derickson – Funding – How much money will it take to change the world? Less than you think. This is how to do it!
Daryl Oster: That’s pretty much what we have done so far is bootstrap. There is a perception that a lot of money is needed up front for this and true to achieve our vision will take trillions of dollars to do that. However billions have already been spent of ET3 and invested in ET3, the companies and individuals that made that investment just haven’t realised it yet. So that’s why we have this open consortium model to help reach those past investments that already been made and create a new market for those investors and open consortium that people can get involved for their own reasons to either leverage their skills and create a new market for those skill or to help create a new market for their intellectual properties or help create a new market for production capacities. The capacities to make pipe lines and vacuum pumps and all the construction equipment’s, put everything together that already exists. So that’s why we can use parallel processes unlike a hundred years ago where people like Henry Ford had to invest what would now be tens of billions of dollars to build a whole series of factories to do everything individual.
Marzena Kmiecik: So the infrastructure by default is already there that you’re piggyback riding on in a sense then?
Darly Oster: Yeah, exactly you know we can see a long ways because we stand on the shoulder of giants. It’s a perception that you know maybe what we don’t have the power to do, we focus on what we don’t have. We don’t have money, we don’t have this, we don’t have credibility; well we can build that with efforts and with talking to people because it’s all about people. People already have those assets and so by
Marzena Kmiecik: Talk about that, what is your process, do you have any, is there anything that you literally get up and do every single day to get to that goal?
Russ Direckson: Of funding?
Marzena Kmiecik: Of funding and finding the right people to fund?
Russ Derickson: I’m looking at various things through certain government agencies, like there is the STTR, which is a technology transformation mechanism, a benefit for society, we are looking at those. There is angel investing that stuck to the lower level and then there are agents beyond that. So there is multiply routes for the funding, there is multiply routes and this is unique for me because I have never been involved to fight for something like this. The kind of stuff I’ve been involve with might be in order of million dollars or something less than that this is multi millions, so it’s a whole different thing. Now some of the people who are involve in the program, we would like to have met today but their stuck up in the mountain because of the flood.
Daryl Oster: We really don’t see funding as being a major issue with this. There are a lot more important things then funding right, you know, public process and laws and perceptions and things. We get, of all of the inquiries we received, probably about a third of them are focus on how can I invest in this. So one of the problems that we have here in the United States is the old laws that have recently been changed but the new rules have not been written. So I’m with the crowd-funding and things and new ways of doing things and the internet; those are bringing in a different methods of funding s and a lot more visibility for projects so really when the value is assembled the money comes looking for that high return potential and low risk potential, you know, the most favourable balance, the most value and from our perspective, if we had a billion dollars it wouldn’t do anything for us. It’s what we can trade that for and people already have those assets so we can assemble those assets in open consortium and people hang on to their own assets and participate creating a new market for those assets and the most common commodity in the world.
Everybody says ‘oh I don’t have enough money or we don’t have enough money, and money is the problem’, it’s not. The world is awash with money, it’s the most common man made commodity in the world. It naturally seeks its greatest return and minimum risk. So if we can minimize the risk by diversifying it across lots of members in the consortium that have already, you know, developed billions of dollars in capacities for intellectual properties and production capacities, we minimize that risk because if one of those companies cannot deliver, another one can.
And then we maximize the potential by focusing on maximum value, maximum efficiency, maximum benefit for those assets and finding a new market for those with very little competition in it, a blue ocean strategy. That’s why our open consortium has been successful in attracting a lot of people that would been our competitors with similar ideas because we are making it cheaper to get involved with this then to go it alone.