Delian

#588 Delian on Space and Bitcoin

- Varda is building manufacturing facilities in space to produce high-value materials (cancer drugs, fiber optics, human organs) in microgravity, then returning them to Earth; the company aims to be the "AWS of space" by making launch costs economically viable for non-aerospace industries. - SpaceX's reusable rockets and cost reduction (now ~$5,000/kg) enabled Varda's business model; bringing materials back via atmospheric re-entry is the hardest technical problem, with Varda targeting the first commercial soft landing on land rather than water. - Founders Fund operates on conviction-based rather than consensus-based investing, with tiered check sizes (2 people approve up to $1.5M, six people for $30M+); the firm prioritizes intellectual honesty and allows junior investors significant autonomy. - Delian adopted the "days since founding" metric as a cultural tool to enforce rapid decision-making and execution speed, borrowed from portfolio company Ramp; Varda's Monday all-hands opens with a countdown to first launch. - Delian initially held Bitcoin as a store of value but remained skeptical of crypto until exploring DeFi's algorithmic liquidity pools; he concluded crypto is not yet ready for mainstream adoption (closer to "DARPANET days than Google") and plans to revisit in 2–3 years. - Delian relocated from San Francisco to Miami in March 2021 after visiting for Keith Rabois's birthday, citing superior quality of life, vibrant entrepreneurial community, and happier work environment; the move happened within 48 hours of deciding.