The Fundamental Molecule

The Fundamental Molecule with Tom Ferguson, Burnt Island Ventures
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The Fundamental Molecule Podcast

Welcome to The Fundamental Molecule. This show explores the intersection of water, technology and entrepreneurship. Each week, Tom Ferguson, Managing Partner of Burnt Island Ventures, interviews innovators, experts, entrepreneurs and investors in the world of water, to help us understand where this trillion dollar industry is headed. These are the stories of the people building the future of the world’s most valuable and fundamental resource. Explore all of our episodes and learn more at https://www.burntislandventures.com/the-fundamental-molecule

  1. Ifetayo Venner - Gatekeepers, Big Infrastructure, and Leadership

    1 DAY AGO

    Ifetayo Venner - Gatekeepers, Big Infrastructure, and Leadership

    It's nice to have friends in high places, and in water, there are few places higher than the presidency of the Water Environment Federation, the core trade body for the wastewater industry. Ifetayo Venner and I got to know each other in 2017 when we both spoke at the opening session of WEFTEC, WEF’s annual gathering for the wastewater world, and we spoke in a cavernous room filled with about 5000 pros talking through our stories of how we got into water. Ifetayo’s was a lot better than mine, and no surprise. She is an enormously accomplished professional, Past President of WEF and a Senior VP at Arcadis, the massive engineering consultancy. She has led the creation of some very serious projects in wastewater, and I wanted to have her on The Fundamental Molecule to help us understand the role of engineering consultancies in the sector, what the world looks like from her point of view, the opportunities in infrastructure renewal, and of course, her own path through all of it. She really is great. Please enjoy my conversation with Ifetayo Venner.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205

    46 min
  2. Mae Stevens - Building the Case for Water on Capitol Hill

    SEP 18

    Mae Stevens - Building the Case for Water on Capitol Hill

    If I was to write a list of all the tricks we’re missing in water, it would be a lot, and somewhere near the very top would be lobbying - engagement with government on the federal and state level. I recognize we've made a lot of progress in the last five or six years in terms of securing capital for the required infrastructure renewal in the US, but there is a hell of a long way to go. But I look over the fence at energy, both legacy and renewables, healthcare, insurance, biotech, down to the gun lobby, and I can't help but think there is a massive gap between how effective we are in water and how effective we could be and how much more support for the fundamental molecule we would get if we were. Mae Stevens is a specialist lobbyist for water at Banner Public Affairs, and she recently joined us for our Founder Forum in DC alongside fellow lobbyist and longtime friend of BIV, Dan Kidera. She and he, they were both so good, and I wanted to have her on The Fundamental Molecule to help demystify this murky area of water at scale. Please enjoy my conversation with Mae Stevens.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205

    37 min

  3. AUG 28

    Jorge Richardson - Water Access, Reliability, and Selfies with Bono

    Jorge Richardson - Water Access, Reliability, and Selfies with Bono Sometimes businesses pop up that take a bit of time to make sense. HOPE Hydration is one of those businesses. When I first met Jorge Richardson in 2021, he was chock full of confidence, like a lot of entrepreneurs in 2021, with an admirably aggressive plan, but I couldn't quite see it. And, fortunately, I was wrong. Make no mistake, this is an exceptional early company with the potential to transform a very large legacy part of the water sector. Jorge is also exactly the right person to build it. A rare combination of smarts, charisma, and a down to earth way of looking at the journey that can only come from a very specific blend of experiences, both positive and negative. We think they can be a huge part of the solution to the public water access problem, and this is a fascinating look into the early stages of building that solution. Hopefully, you'll get it faster than I did because we are seriously excited. They were our second investment in BIV Fund 2. Please enjoy my conversation with Jorge Richardson.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Jorge Richardson’s journey led him to create Hope Hydration, tackling the broken water access system with fresh ideas. In 2021, he pivoted to focus on event-based water stations, quickly learning how to make a big impact with limited resources. By combining a smart, ad-driven business model with B Corp principles, Hope Hydration is redefining what it means to offer free, high-quality water everywhere. For Jorge, success is all about having the right people, a clear mission, and staying true to your values. 00:00 Start 00:49 Introduction 01:53 Jorge's Unconventional Path to Water Sector 02:18 Mission and Vision of Hope Hydration 04:50 Problems with Traditional Water Access Models 08:00 Transforming Drinking Water Infrastructure 11:10 Key Learnings and Pivot from 2021 Onwards 16:46 Understanding the Ad Business Model in Water Tech 20:45 Balancing Ads with Mission as a B Corp 25:27 The Power of Networking and Partnerships 29:43 Scaling Across Multiple Vertical Markets 35:38 Building Sustainable Competitive Advantage 41:53 Global Impact and Scaling Hope Hydration 45:23 Advice for Future Water Entrepreneurs Links: Burnt Island Ventures: https://www.burntislandventures.com/ Jorge Richardson: https://www.linkedin.com/in/jorgerichardson/ HOPE Hydration: https://www.hopehydration.com/

    48 min

  4. AUG 14

    Matt Rosenthal - Business Beneath Our Feet

    There's an old saying from east London: “Where there's muck, there's brass.” Essentially, what this means is that the management of the dirtier side of life is invariably an opportunity for a decent business. Sewers are a big business. There are a million miles of them beneath our feet in the US, and about 300 million of them need to be inspected and cleaned every year. A serious undertaking. Matt Rosenthal, along with his Co-founder Billy Gilmartin, is building SewerAI in order to massively improve the process, efficiency, and accuracy of completing these inspections, and much more besides. As you will hear, he thinks as clearly about the fundamental job of an entrepreneur and leader as anyone we work with, and his pathway to building SewerAI was as entrepreneurial, honest, and compelling as any you will hear. Fitbit's loss was US sewer infrastructure’s gain. Please enjoy my conversation with Matt Rosenthal.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Matt Rosenthal, Co-founder and CEO of SewerAI, shares his journey from a chance entry into water tech to leading a company that is revolutionizing sewer inspection with AI. The discussion covers the challenges of scaling a tech-driven business in the water sector, the critical role of providing real value to customers, and the complexities of working with municipalities. This episode offers valuable insights into how innovation and AI are transforming essential infrastructure. 0:00:00 Start 0:00:49 Introduction 0:01:56 Matt and Billy’s entry into the sewer inspection industry. 0:04:00 Inefficiencies in traditional sewer inspections. 0:07:53 Market analysis and early mistakes. 0:11:02 Technical challenges in sewer inspection. 0:13:35 Combining skills to build the company. 0:18:19 Effective division of responsibilities. 0:20:50 Competitive edge through strong execution. 0:26:57 Leadership changes and hiring importance. 0:31:13 Series B fundraising strategy. 0:39:56 Thoughts on AI’s role and value. 0:43:54 Vision for expanding Sewer AI’s solutions. 0:46:31 Matt’s single most important piece of advice for future and aspiring water entrepreneurs. Links: Burnt Island Ventures:  https://www.burntislandventures.com/ Matt Rosenthal: https://www.linkedin.com/in/matthewrosenthal99/ Key Takeaways: "The easiest way to raise a round is to build a kick-ass business. End of story." "Provide value to your customers. Everything else just follows from that." "If you can answer ‘yes’ to generating revenue and doubling it yearly, you're pretty good." "AI is just a part of the value we provide. It's the whole stack that matters." "We make people better at their jobs. That's what we do as a company." "Extreme honesty and openness build trust and show success." "Don't worry about building the business. Focus on providing value." "My job is to make my employees as productive as possible so they can make our customers productive." "The bar for excellence has never been so low. Do what you said you were going to do before it became inconvenient."

    48 min

  5. JUL 24

    Peter Fiske - From Academic to Entrepreneur (and beyond)

    Peter Fiske has packed a lot into his career, from being a rare successful academic to entrepreneur crossover to his current role as head of NAWI, the National Alliance for Water Innovation. He's just someone who loves building stuff, and he's done a lot from building and selling PAX Water Technologies to setting up the infrastructure for the radically improved coordination of US research into water technology. He's also one of the most energetic people I know - game recognize game - and one of the best communicators. Please enjoy my really fun conversation with Peter Fiske.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Peter discusses his journey from academia to entrepreneurship, applying academic research to solve real-world water issues, lessons from his first sale, and the future of brackish water desalination. He also highlights the need for decentralized water infrastructure and draws parallels with the energy sector's evolution. Emphasizing empathy, data, and collaboration in addressing water industry challenges, he notes that, as climate change impacts water resources, innovative solutions and industry cooperation are now, and will continue to be, vital. 0:00 Start 0:50 Introduction 1:31 Peter’s initial path into the water world 7:51 Moving from academia to entrepreneurship 19:56 Peter’s first sale and the lessons learned from it 22:46 Applying academic findings to relieve pain points 26:52 The future of brackish water desalination 28:34 Why doesn’t the US have a Department of Water? 29:51 Our main water problem 31:46 Public understanding of water issues 36:31 Water technology in the context of the S-Curve 40:30 Peter’s reflection on selling his business 43:57 His single most important piece of advice for aspiring water entrepreneurs Links: Burnt Island Ventures   NAWI Key Takeaways: "Entrepreneurship is first and foremost a personal choice and a career choice." "PhDs can be outstanding entrepreneurs. They are used to working extremely hard and are enormously resilient." "Empathy for your customers is crucial. Truly hope that what you have makes their life better." "Successful entrepreneurs are not risk takers. They analyze an environment and wait for the right opportunity." "The water industry is an unusually cordial and collaborative industry. Seek ways of synergy." "If you don't have data, you just have an opinion. Bring data to frame technical performance." "Our climate is changing, and the principal delivery vehicle for those effects will be the water cycle." "The future is already here; it's just not uniformly distributed."

    45 min

  6. JUL 10

    Josh Mackanic - Making the Unseen Seen

    It's well documented that we at Burnt Island Ventures love founder-market fit, but we really love it when it leads us to a founder and company that represents that fundamental leap forward in the operation of that market. Josh Mackanic is one of those founders. His two decades of experience in infrastructure has led him to build a platform people have talked about in the industry for a long time, but he and his team have been the ones to bring it to life. His deep knowledge of the infrastructure world is obvious in our conversation. We cover everything from the identification of the problem to how he thought through his fundraising process to how he sees the role of CivilGrid in unlocking a huge amount of friction in the wholesale infrastructure upgrade that the US requires in the coming decades. Please enjoy my conversation with the excellent Josh Mackanic.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Josh Mackanic, seasoned infrastructure expert and founder of CivilGrid, shares his journey from managing large-scale construction projects at PG&E to creating a revolutionary platform for infrastructure management. He discusses his unique insights into utility operations, the significant challenges faced by the construction industry, his team’s design expertise, and the crucial role of meticulous planning in successful project execution. Explaining how CivilGrid preemptively consolidates vast amounts of site-specific data, our guest notes that this results in streamlining project design, and reducing costly errors. Finishing up, Josh shares his thoughts on the future of infrastructure, the impact of the Inflation Reduction Act (IRA) on the industry, and his advice for aspiring water entrepreneurs. 0:00 Start 0:49 Introduction 1:56 Josh’s journey to starting CivilGrid 5:42 ‘Dig ins’ and the potential issues with them 8:23 The problem he and his colleagues decided to solve 10:23 CivilGrid and its impact 14:25 Acquisition of a critical mass of data 16:20 Understanding your areas of strength and weakness 17:22 Learning about selling 19:24 The CivilGrid team’s exceptional understanding of design 23:25 Josh’s insights on fundraising 27:28 His perspective on the IRA, infrastructure, and the future 31:03 Retaining and ingraining values in the team members 30:31 Josh’s most important advice for future water entrepreneurs Links: Burnt Island Ventures: https://www.burntislandventures.com/ CivilGrid: https://www.civilgrid.com/ Quotes: "Running a complex construction project is like orchestrating a symphony in an unstructured environment." "90-92% of projects go over schedule or budget. Your biggest impact is at the design and planning stage." "If you don't have customers, you don't have a business. Start with the customers and work backwards." "Fundraising isn't just about money. It's about building the team and getting the right people aligned with your mission." "Prepare yourself mentally and physically. The road is longer and requires more resolve than you expect."

    34 min

  7. JUN 26

    Paul Vacquier - Trust, Crucibles, and Kevin Hart

    We talk a lot about founder market fit. It's a crucial component of founder selection because of the simple fact that founders who really understand their industries are very unlikely to build something that people don't want. There is no gap between the perceived reality of their market and the actual reality of their market. An awful lot of venture funding is burned bridging that gap. Alongside his co-founder, Glenn, Paul Vacquier has built Beagle Services, a new generation of plumbing company, in direct response to his experience in attempting to roll out IoT units in the market, and it's going rather well. He is a powerful combination of litigator, salesman, and leader, wrapped in a cloak of relentlessness that is required for his market. And his market is rewarding his approach at increasing scale. You'll see why. Please enjoy my conversation with Paul Vacquier.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Paul recounts his journey from litigation to launching Beagle Services, and discusses the importance of founder-market fit. He also highlights the challenges of innovating in regulated sectors, the strategic scaling of Beagle, and the value of applying lessons from his law career to navigate the complex water industry. Our highly esteemed guest concludes today’s remarkably informative and entertaining conversation by offering crucial advice on resilience as well as market insight for budding entrepreneurs in water technology. 0:00 Start 0:49 Introduction 1:56 Paul’s path to water 3:51 Law profession lessons and advantages 8:34 His experience with Contract Cloud 11:23 His time at Flo 14:25 What led him to Beagle 16:32 Beagle’s work and its importance 21:04 Beagle’s status now and in the future 22:53 Its ‘virtuous circle’ with the market 26:14 Beagle’s contact with underwriters 27:44 Managing Beagle’s level of scaling 31:03 Retaining and ingraining values in the team members 33:26 The sustained position of Beagle's business over time 35:36 The role of data in its business 40:13 Governmental and utility action of water efficiency 43:51 The advantages of Paul’s personal shift over the years 46:10 The importance of maintaining trust 46:49 What frustrates Paul about the funding market 52:03 Paul’s most important advice for future water entrepreneurs Links: Burnt Island Ventures: https://www.burntislandventures.com/ Beagle Services, Inc.: https://www.beagleservices.com/ Quotes: "Every part of my law career taught me something valuable about deep diving into complex problems." "The real job isn't just starting something; it's about continuously optimizing and adapting." "In entrepreneurship, your ability to learn and adapt is as crucial as your initial idea." "We need to bridge the gap between technology potential and practical application in the water sector." "Being comfortable in uncomfortable situations has shaped how I approach business challenges." "Innovation in water technology isn't just about conservation but also about infrastructure resilience."

    55 min

  8. JUN 12

    Matt Johnson - Constraints, Sequencing, and Finding the Fun

    People do business with people they like, and Matt Johnson is one of the most likable people I have met in the last 10 years. He is a cocktail of curiosity, energy, reflectiveness, enthusiasm, and both left and right brains that come together in a genuinely compelling person. And his company is a reflection of him and his co-founder, Bibi - a phenomenally designed, user centric, cost effective solution for a pervasive problem, not only in water, but in real estate and all real assets as well. LAIIER have already secured leak detection contracts with two of the biggest companies in the world and have a good shot at becoming a new standard in building resilience. Their story is a fascinating study in entrepreneurship, and they're in a very interesting position indeed. Please enjoy my conversation with Matt Johnson.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Matt shares his entrepreneurial journey from Colorado to London, emphasizing the cultural insights and strategic growth tactics he's adopted.  He and Tom discuss LAIIER's innovative solutions for preventing damage in real estate and industrial settings, the challenges of negotiating with large entities, and the significance of understanding customer needs for business success. Their discussion here today takes a deep dive into the complexities of water technology that encapsulates the essence of overcoming adversity with a positive mindset, underscoring the critical role of humor and resilience in the entrepreneurial journey. 0:00 Start 0:49 Introduction 2:15 Matt’s journey to LAIIER 6:47 What LAIIER produces 8:36 Advantages and disadvantages of Matt’s training 11:28 The discovery process 14:47 Working with big name entities 18:15 The importance of sequencing 21:55 Alleviating some of the sales pressure on him 24:43 A fundamental founder sales problem 29:09 Replicating founder level sales quality in a sales organization 33:11 Negotiation lessons and resources 36:51 Cultural differences between Britain and the US 39:56 Reflections on becoming an entrepreneur 42:00 Matt’s single piece of advice for water entrepreneurs Links: Burnt Island Ventures:  https://www.burntislandventures.com/ LAIIER:  https://www.laiier.io/ Quotes: “So it is really like different strips of tape that you can stick on, around, under pieces of equipment that do very precise measurement of different liquids on the surface, and then report that remotely.  "Culturally, it's now aspirational to be entrepreneurial in the UK." "It's crucial to be methodical about consistency in communication during customer discovery." "Great businesses are built through facilitating a connection, often reassembling existing things in a new context." "The advantage of the founder is industry knowledge, charm, and willingness to take risks, but the advantage of a sales team is negotiation and execution." “If you can maintain a sense of humor when it gets really tough, you're more likely to maintain the creative energy required to not just survive it, but to thrive in it.”

    44 min
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About

Welcome to The Fundamental Molecule. This show explores the intersection of water, technology and entrepreneurship. Each week, Tom Ferguson, Managing Partner of Burnt Island Ventures, interviews innovators, experts, entrepreneurs and investors in the world of water, to help us understand where this trillion dollar industry is headed. These are the stories of the people building the future of the world’s most valuable and fundamental resource. Explore all of our episodes and learn more at https://www.burntislandventures.com/the-fundamental-molecule

Information

  • Creator
    The Fundamental Molecule with Tom Ferguson, Burnt Island Ventures
  • Years Active
    2023 - 2024
  • Episodes
    24
  • Rating
    Clean
  • Copyright
    © 2023 Burnt Island Ventures
  • Show Website
    The Fundamental Molecule

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