Fuse Energy

“I told the team last year execution was maybe four out of 10.”

“I don't even think of them as direct reports, right? I think of them as, like, you know, going back to self-guiding missile analogy, right? You don't need to manage those people. Right? Like you discuss and you debate about the target, right? But once you both…”

“Have small teams yeah, small teams operating in the independent units and give them very clear goals and let them execute. And, you know, what you should do is monitor those teams and if they do well, let them be. If they don't do well, replace the team.”

“I don't think Fuse could have been built 10 years ago. I think Fuse is only possible because the requirements have changed, right? Because the renewable penetration in the grid is so high, and the skills you need to, you know, the ability to manage renewables …”

“We increase our revenue with Tenex every year since inception. First year was two million pounds, second year was 20, and then this year we're gonna end at over 200 pounds.”

“And for straight A candidates, we have made offers that are, you know, much higher than what they make today. And even if we know that, that's okay, because we want to make sure we're a no-brainer for you, such that you will never think about leaving.”

“Every single time when one of the leaders at Fuse explains to me why they failed and they couldn't hit their own goal, I sent them this article.”

“I think it's speed of hiring quality engineering. That, that's the biggest barrier. There's no capital. It's quality of engineering.”

“It was roughly where we were at a 145. About one 40 actually. And we had an oral agreement with Bolton, we'll take the term sheet. And then, but we haven't signed the term sheet yet. And then later, there was another investor that came, they came and said, I w…”

“So we found a single wind turbine in north of Scotland that the seller is willing to sell for 750 K. We found a license for 75 K. We convinced the former CEO of Ofgem to become an advisor with just equity and no cash. And my co-founder Charles became a qualifi…”

“So any energy company that's claiming their harm sent renewables is a complete lie. Right. They're simply buying renewable certificates, right, to claim the harm sent renewables, and it's completely false.”

“Yeah, I think they really, really like the concept, and I think what they realize is, is a pretty good strategy, and I realize after the, you know, a lot of their investments, I think they, they've just, because they made so much money from the Revlon investme…”

“I think we could be bigger than Shell.”

“You can have low cost energy, you can have more energy, and you can have lower carbon energy at the same time.”

“Something around there. But we'll, we'll, we'll still shoot for 10. I think we can.”

“Yes. In the most recent round.”

“I think what would be, we'd love to build a world where You know, power is so cheap and abundant that any builder, you know, AI or otherwise, don't even think about power anymore, and they can just build more, and economies start growing again as a result. Tha…”

“If we ever list, I think it would be the US, yeah. I personally don't see a need to. There's a lot of liquidity in the private markets And obviously there's additional overhead being a listed company. Like, so far, like the only, like, only, only reason I see …”

“I think you have to pick your battles for sure. Ultimately, like, you need to identify the most important roles in the company and never settle on those roles. But the roles that matter less, I think it's perfectly ok to settle.”

“So as a company, we don't actually use any comp bands. We simply look at the grades and the higher the grade, the higher our bid.”

“It's very important you have, you create a culture of truth seeking, right? And the truth is very ugly, you know, might hurt someone's feelings, you should still say it, because it'll make that person, you know, make that person better.”

“So although our whole backend is in Python we will hire any backend developer even if they know nothing about Python.”

“Our threshold is we will hire anything above a beat. So if you get straight Bs, you'll still get an offer, but the offer will be much lower, and it could be below what you're making today.”

“One of the, so we're trying to build a power plant in the UK and, you know, one of the things council have a complete discretion over, you know, planning, especially around environmental impact. So we had to do, you know, wintering bird surveys, right, over se…”

“Yeah, we've never given a head of position to anyone we've hired. We've only given to it based, based on performance.”

“Yeah, there's some truth to that, yeah.”

“Basically, when I explain to the candidate, you know, about what we're trying to build build a fuse, ambitions, how we want to be a number one energy company in the world, and the work, the hard work that requires to build it, you know, you want to, like, what…”

“I think one.”

“So the company is doing over four hundred million revenue, annualized revenue,”

“Yeah, I'd say, like, as I said before, like, this is very hard, like, this only way to do it, like, we're going against, you know, big, big, big energy companies with, like, huge balance sheets. You know, billions in revenue. The only way to win is, you know, …”

“Well, I would say, like, we do want to create liquidity opportunities for employee stockholders, and, you know, sometimes people need to buy a house, they need to buy a car, they need to, and yeah, I think, yeah, some liquidity is helpful.”

“Power is not fungible across time and space. So you have a lot of power, for example, wind power in north of Scotland. That are being told to turn off because the power is not getting to where it needs to be.”

“If I, when I realize a person, if I keep giving negative feedback to a person and they haven't improved, then I just stop bothering. Then, you know, they can leave the company.”

“There's two areas where I find value and security. It's one where there's deep integrations and partnerships, which are difficult, and they'll never do. We're an investor in Airwallex. We've discussed before. They have hundreds of banking relationships and par…”

“Actually, there are founders like Alan Chang at Fuse or Jack at Airwallis. You could treble the price and I'd still pay it today.”