Cobalt

“The, so we worked with labels that the Merlin and Cobalt, so fourth majors to bring their music into the music model so we can do it in a licensed way so you can generate that and give commercial rights so you are fully protected.”

“With the recent crash of the cobalt price and nickel For all sorts of reasons, and that's the topic for a whole different discussion, but particularly those two metals with the depression on their prices, our project remains profitable, and the reason it's pro…”

“Most companies, certainly Rivian included, are working to engineer cobalt out of the batteries.”

“The Duluth complex actually where New Range is located, which is in northeastern Minnesota, contains 95% of America's nickel, 88% of Cobalt and 33% of our copper.”

“Most banks are still running Cobalt code. That's a program in English from invented in the late fifties when Eisenhower was the president.”

“So, 80% of lithium comes from Australia, China, and Chile, where 70% of cobalt comes from the Democratic Republic of Congo.”

“On the refining side, China controls 80% of manganese refining, more than 70% of cobalt and nickel refining, more than 60% of lithium refining. And then you get to the most valuable components, the cathodes, the anodes, right? China controls more than 75% of c…”

“So the top producers of oil in the world, the US, Saudi Arabia, and Russia, each produce roughly 10% of global crude oil supply. The top producer Of lithium, of cobalt, of rare earths. Each of those, the top producers, each of those produces more than half, an…”

“For most of these electric vehicle batteries of all of the minerals is going to be nickel. And then lithium and cobalt probably fall in second, but the single biggest number to shoot for is the nickel itself, and that's a problem because most nickel is coming …”

“One is you can completely displace the cobalt in the battery by increasing the manganese content.”

“But just to contextualize the scale of the challenge here, we mine around five times as much copper as we do those other three minerals, lithium, nickel, and cobalt combined.”

“But with our current battery technology, it would just be way too expensive To back up the entire electric grid. Plus, it would require more materials like lithium and cobalt than we have sitting around right now.”

“There's rarer metals, lithium being the by far most obvious one. But also things like cobalt and zinc and nickel where You know, we see in most cases global supply being sufficient to meet the needs of the energy transition, but just an enormous concentration …”

“So cobalt's the best to do that. And nickel is a reasonable second, a fairly close second. And there's just a huge drop to the third best, best cathode material. And that's probably iron phosphate.”

“Cobalt has a very highly concentrated supply in the Democratic Republic of Congo, about two-thirds of existing production, so, you know, the rate at which cobalt's coming out of existing mines, and two-thirds of reserves, the total amount of cobalt The total a…”

“Russia's the number two nickel producer in the world. It's also the number two Cobalt producer in the world.”

“Something like 15 plus percent of cobalt that's been estimated coming out of cobalt coming out of Congo is, is sourced in that manner.”

“We'd order it as nickel followed by lithium followed by cobalt followed by copper.”

“I think we're redrawing the commodity supply chains because suddenly things like cobalt become extremely relevant to the future of your energy supply. And most of it is found in the Congo and China has really good reach in the Congo.”

“Our low, low MOQs are, you know, to the order of 25, right? You want to do a custom CBD bath bomb? You can do 25. At, you know, seven 50 a bath bomb. It's completely drop ship end to end fulfillment.”

“So we've done 177 customers that have launched their first product. 36% of them have launched a second product. And of that 36%, another 80% have done three or more.”

“A product where you need to grow really fast and there's going to be a clear winner in the market, and you need a lot of money to get there really fast is a venture-scale business, and that's where Cobalt fits. To get all of those suppliers onboarded and to bu…”

“I'm personally not focused on preserving my equity and then actually I'm doing the opposite. I'm focused on creating as much value for my investors as possible.”

“And so the cost of Tesla's are going to go up by 20 or 30%.”

“It turns out that if we use the existing battery chemistries, which is a lithium ion battery, the most scarce raw material is not going to be lithium itself, but cobalt.”

“Today, as much as 65% of the global supply of cobalt comes from the Democratic Republic of Congo, where cobalt production has already fallen in 2017 because of the unstable political situation.”

“Professor John Goodenough at UT Austin is hard at work on a new type of chemistry that would use a glass electrolyte made out of sodium, which is much more abundant than cobalt, and it's just so awesome to me that at age 95, having pioneered the first big leap…”