San Diego Tech News Weekly – March 4, 2022

Startups get the party Startups get the party started.

You want tech and tacos tacos in tech you know we got tacos and tech is all smashed for the green guacamole keeper Calvin's counting beans Contador Quentin frijoles pandas china resum Queso la vida San Diego school of rappy rapping fire these modern times of craft beer and coffee my coating yoga body origami we be surfing coronado eating tacos el gordo the tacos standing puesto lucha libre and sombrero got a shout out to cost natos by the ocean watch the sunset La Jolla shores Entrepreneurs trying to get funded with San Diego Startup week is popping in the summer Oceanside, the Tijuana SD before on the beach Tech leaders who believes who be shooting for the Come on.

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You want decking, tacos, tacos and tech, you know we got it.

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You want.

You know we got it. Hey, what's up everyone? Happy Friday or whatever day it is that you're listening to this on. We're thrilled to have you. I'm thrilled to just be back. I have not had my sound work for two weeks going, but check, check. Can you hear me?

Yeah, sounds great. It's like crystal clear is almost better than before. I don't know what you did.

So I finally figured out how to check my privacy settings on my iPhone. That's pretty much all it was. So thanks Twitter for not giving me a heads up until now, but we've got some great news to share. My name is Neil Bloom. I run a tech podcast and newsletter all about the center ecosystem. Also entrepreneur of a few companies and co managing partner of Interlock Capital. Shout out to Al listening in the audience here. We're doing some investing but today we're talking about tech from from big to small, everything in between startup to big tech. And here to do it with me is my co host, Jonah. Hey, Jonah.

Hey. Hey, what's going on? Happy Friday or whatever day it is. Like I said, people could be listening to that later in the week. But yeah, what's up? My name's Jonah, former ops guy. Lot to some work with lime handy, Postmates, some brands you might have heard of and Just loving San Diego, I gotta be honest. Like I was enjoying that, that rain a little bit. Minus the backyard flood. We might need to stock it with fish. But other than that, you know we're looking good and you know, new dad, but headed deep into crypto. I can't wait to our, our crypto companies in San Diego get big enough to be talked about on the pod. Some are, some are getting there actually. So I'm pretty excited about that.

Well, at least we've got, we've got some long standing crypto meetups. The bitcoin meetups been going strong for man I think like five years. I went to it back in 2016, so. And now we've got the new ETH meetup as well and the NFT con is coming in April so events wise people are obviously excited to getting together and engaged about it.

Yeah, I'm loving, I love seeing that. I mean it kind of be. It feel a little bit of a bummer if San Diego, you know, being so heavy into tech with kind of just not really aware of it. But you know that's not the case like you said. I think, I think the bitcoin meetup might even be older than that. But you know, it's again it's just cool to see the sort of variety of tech that we have in San Diego is pretty impressive.

Totally. And we love talking about kind of the vergence of industries. You know, we talk about big data meets big bio. And I think this first story we're going to talk about big sports or at least sports and tech coming together. So you know, this is a good one. I don't know if any of you heard of Meat Leet, but they got good story about them. You want to dive into that a little bit with us?

Yeah, yeah. So Meatly just kind of popped onto our radar. It's kind of cool. If you have heard of Cameo, it's kind of like a little bit more in the niche of sports personalities. But it's super cool. They've actually built it as a free app. So honestly like pop on it and see what's going on there. But I don't know, have you. Do you know Rob Connelly?

I think he was a part of the startup San Diego incubator, wasn't he? This past year.

I wouldn't be surprised. I was looking at his background. So a little bit. So Meatly basically is like a, like we said, like cameo. But essentially it facilitates, you know like FaceTime meetups basically protecting you know the, the celebrity athlete, you Know, privacy, but also making these interactions and these connections. But what's cool. So I was looking up his background. I was like, hey, like, who's Rob? You know, where do you come from? What's going on? And he's been, he's had like three companies of his own. You know, one was just, you know, looked a little bit like a real estate focus, connecting agents and customers. He had a dog subscription box maybe when it was rising, maybe let's just say before it was cool. And a messaging platform so kind of seemingly like has been just kind of working on different companies here, here and there in a variety of different places. I'm kind of hoping this one is the one. But they've got 140 athletes and do you remember, do you remember Chuck Liddell? Oh, yeah, right. Big mohawk. I think he had a mustache, was a goatee, intimidating guy, but, you know, look like a great personality. So he's, he's one of their big, their, their big athletes. I don't know what he's up to lately, but what ended up happening, which is kind of neat, is, is, you know, they're, they're chugging along, they're building their app and they just found out that, you know, NASCAR selected them as a partner. So I think that was kind of a surprise for them. At least that's how the story was, was pitched. And so now, you know, now they're kind of moving heavily into that world. And, and you know, as, as, you know, sometimes you just embrace, you know, you embrace these, these wins. Whether or not they were planned, that, that's pretty cool. So maybe they're going to be, you know, really big into NAS racing and finding those celebrities, which is honestly a massive, a massive sport. I think number two to the NFL in, in the US haven't looked at the data recently, but it is huge. Even if you don't follow racing here in sd.

Yeah, that's awesome. I think the big thing difference also with cameo is that you can actually interact. Right? So cameo is kind of one way you say, hey, shout out to these people. But this sounds like you actually can have a conversation, correct?

Yeah, I think they're like somewhere in the ballpark of I could be wrong in this, like four to five, 10 minutes.

So you get these like little, little.

Snippets, maybe prepare and kind of get some questions from, from Chuck Liddell or some of your favorite celebrities. But you're right, you're going to get a little bit of, of action back, which is totally cool because I remember hearing A podcast recently, forgetting the name where that was something that is a little bit tough. You feel like you're talking out. You know, we get to see some faces on, on Twitter spaces, which is super cool. But this is neat because you actually get some, some interaction back with your fans, you know, and, and that's always good to see.

Yeah, super cool. Well, congrats to the team. I know they've gotten a bunch of news recently, including some big name investors coming in. And so you'd love to see it here in San Diego. Selfishly, let's get some of our own athletes on them, like Landon Donovan and some other San Diego loyal players promoted on this. We'll make that connection happen for sure. Yeah. Take us to our next story.

Yeah, this one's super cool, too. Really a big one. Salk Professor Martin Goulding wins the Brain Prize. He is at the Salk Institute of Biological Studies. This is super cool. Congrats. Brain Prize sounds really prestigious, but I didn't know what it was. I did a little digging. It's the top prize in neuroscience. It's the world's largest neuroscience research prize, which is super cool. And it's awarded by the Lunebeck Foundation. So this is not actually a US based prize, but what he won this for, there's actually a couple of other funny details. Like, like, for example, before we get into what he's, he's doing, he. His prize was 10 million Danish Krone, which is kind of funny, which ends up being 1.5 million. So not a small number. And his sort of research was looking at neural circuits that control movement, which is kind of cool because we just sort of think, you know, reach out, flip light switch. But really there's a lot going on behind the scenes and we have to develop this whole system. So think about, you know, babies taking their first steps and, you know, watching how uncoordinated, you know, my baby is trying to take steps is. You don't really think about it because we're so natural. We just walk down the street. But, you know, then you get to these complex movements requiring agility, like riding bikes, which is, you know, your hands, your eyes, your, your legs. You're kind of doing everything together. And so his breakthrough has to do with the transmission, the intentional transmission from brain cell, you know, engaging in activity through the spine to the muscles in the fingers, arms and legs to actually take that action and make the action happen. And so if you think about, you know, that complex movement, you know, that takes a lot of, you know, motor skills and A lot of brain power in some senses, maybe it's in the background, but even something as simple as alternating, altering your speed and altering steps. So one foot, the other foot is pretty complex. And so he's. He's mapped out this. The spinal. The cord circuitry. So in a sense, you know, it's funny to say circuitry, but I believe we're using, you know, electricity in some sense, flowing through the body to make these moves. And so that's really cool from a research standpoint, you know, it's really cool that he won the prize and he's sort of San Diego representing San Diego. But what goes even beyond this, and what's really pretty fascinating is this can actually have some pretty cool applications when it comes to treating Parkinson's disease, ALS or spinal cord injuries. And so the applications are actually pretty unbelievable when you start to understand what's going on and then apply it to some of these major, you know, these major either injuries or illnesses that people suffer from every day. And when it starts getting applied that way, that. That's when it gets incredibly exciting. Yeah.

Oh, this is incredible. I mean, one super cool that it's happening here in San Diego. I have an investment in a company called Vivid Genomics that I think has got to have taken some of their science from this, but they're specifically looking at genomic data for Alzheimer's clinical trials to stratify better clinical trials, so actually make them smaller, but with the right people in them. And so, you know, all kind of the neuroscience and kind of neurodegenerative kind of stuff that's happening here is pretty amazing. Also, shout out to not just getting the brain prize here in San Diego, but we also, you know, Artem won the Nobel Prize last summer from not the same guy, but, you know, just two different or two different Scandinavian countries and foundations awarding San Diego scientists with their research. Artem's the Nobel Prize last summer for. I think it was. I don't know if it was physics or science. I don't actually know which one he won it for, but it was also actually kind of similar. It was for literally figuring out the circuitry in the body that detects touch and sense. So very similar in that regard, too. And, you know, obviously our scientists getting noticed for the deep work that they're doing here, so that's pretty cool to see. So congrats to Martin on this. Now let's go turn that into, you know, physical change of disease and companies that can do it.

Yeah. No, seriously. I quickly did a search because we did Talk about Artem 2021 Nobel Prize for Physiology and Medicine. So kind of similar, similar spaces, obviously quite different. But this is more. Yeah, reception receptors, touch and temperature. So really cool if you, if you know how specific and detailed these, these studies are and kind of what they're able to do for, for people.

It's true. And no time is it more important to discover how incredible our bodies are, is when that we're impaired. Especially when you're under alcohol, inebriated and losing those senses. Which leads us into our next story, all about breweries, which does a great job of impairing those senses and realizing how important it is that we find some breakthroughs. But Stone Brewing has been fighting with Keystone Light for so long.

Have you heard of this in the past? This was new to me, honestly. I mean, I'm very familiar with Keystone.

But founder Greg Koch had a huge, huge Twitter, a very, very public Twitter presence about it. Like, man, it feels like four or five years ago. And it's all around a trademark fight that they're fighting in. So, yeah, it's a four year legal battle which our friend Mike Freeman wrote about this week. Um, they're working on selecting a jury right now. Keystone was rebranded to Stone or Keystone back in 2017, and so Stone sued Miller Kors for hijacking the Stone trademark. That's crazy. Yeah, it's all around, you know, consumer confusion. I don't think it's very confusing when you see the logo, see the brand and then obviously taste it because, man, it's like night and day. But, you know, hey, it's, it's worthwhile. Stone is, I think, a top 10 brewer in the country. So they're getting up there in terms of brand recognition and identity. And now they actually are doing a light beer. They've had a light beer, they've got a Mexican lager. So they're actually kind of weighing into areas besides the hard to drink IPAs.

No, it's funny that you say that because, like, on the one hand it's like, oh, man, like Stone and Keystone, you know, it's like, I get it, Name, name versus name. But, you know, it's like Keystone, you are a little more likely to just punch your, your car key through and just drink really fast. Whereas I think, Stone, you're probably gonna enjoy it a little bit more or maybe not fill your beer pong cups with, you know, it's a long time since I did that, but I, you know, on the one hand, customer confusion. On the other hand, I don't think you buy a 30 pack of stone. So, you know, it's. It's a different. It's a different, different thing here. But you're right. They're selecting a jury. This has been going on for quite some time. Kind of curious to see what happens. It reminds me of a quick story. There's a really small brewery in Vermont called Rock Art, and they created a brew called Vermonster, which is kind of like a kitschy name that people really like in the state. And Monster Energy came in and sued them for infringement. And that turned out to be a whole big deal. But that couldn't be. That's even more different than this. But I don't know, man. I. I'll be really curious to see what ends up happening. And. And it seems like it'd be tough to find a jury who is. Is unbiased and doesn't. Hadn't heard of these two brands because these are some, Some pretty big. Pretty big beers here.

It's true. I guess it kind of might depend what state it's in, you know, if it's happening in Colorado versus California. So we'll keep an eye on that. We gotta always throw in some beer news here since it's just as big an industry as it is tech in here as well too. But another. I'm not gonna have a good transition for this. Let's just cut over to the next story. San Diego county just decided to divest its investment portfolio of fossil fuels and anything related to the. Any corporation that engages in exploration, production, drilling, or refining of coal, petroleum or natural gas. So interesting story around. Around this. It's a $13 billion investment portfolio, which is surprising.

Yeah.

To learn about this. It's not the first that's doing it. The city, I believe, had already done. The city of San Diego had done this, and the state I know is working towards that as well. Towards just a completely. No divestiture of the carbon market per se. And so they're developing sustainability plans across the departments already to decarbonize the work of running a county. But now they're doing that same with their money as well, too. So they're already working to cut the region's emissions to net zero by. I don't have the date in front of me. I know the city was trying to do something like that by 2030 or 2030 somewhere in there.

Yeah, that sounds right.

And that includes switching to solar, wind, electrical charge for their fleet, electrifying buildings, you know, with terms of battery systems and solar, and identifying Capture and store carbon in natural systems too. So there's a lot of work that's going into kind of the whole climate change conversation. They did have one $5 million stake in ExxonMobil that they specifically sold just as like a net loss for like 1850 bucks just in the last month. So Exxon's credit rating apparently was downgraded recently, so they justified it anyway. That says, you know, because of the downgraded credit rating, we were going to divest from this anyway. But it meets our environmental consideration as well, too. So this is an interesting time, though, for all this to happen in the bigger picture with what's, what's happening in Ukraine, the unfortunate situation there. Big time. Everyone's talking about the independence or of, of energy. Right. Us as a country, how can we live off of our own energy instead of off of Russian or other countries that lead to these kinds of wars over energy and other things like that too. So interesting time for, for clean tech, green tech and geopolitical things to come together. So, yeah, that's kind of interesting thing for a foothold for the county to do. What's your take on it?

Do they. I was curious if they publish. I mean, this is a big portfolio, right? 13 billion, maybe. It's not big for sort of the size of the area they cover and kind of how much money they're managing. It is really interesting that, you know, they're investing kind of in a wide variety of things. But I would be curious if that portfolio is public and you know what, why wouldn't they. Or maybe they are like, are they investing in San Diego companies as well? You know, because they have such influence or is that some sort of conflict of interest? Because they maybe know a lot about what's going on here in the region, but we definitely have, you know, our fair share of solar and, and I think there's a lot of potential there. It is really interesting. I guess I never really thought about it from this specific angle that, you know, cities also have investment portfolios too.

Yeah, yeah, yeah. I mean, they've got money that they have to set aside for infrastructure for 5, 10, 15, 20 years from now. Right. And that better to have that money invested than just sitting in a bank. So, yeah, it's actually pretty typical to have a whole kind of investment strategy around just given funds on top of. Also, they always have like a investment pool for what's called. For the retirement fund as well. So it's a separate thing. The pension and retirement fund. There's actually a bunch of different pools of capital that gets invested from a government standpoint. And it's not just county, every water and wastewater, you know, government agency has one.

Wow.

So think like airports, ports. Yeah. All of them sit on big public funds that need to be invested. So something interesting to keep in mind.

And you know, and you know what I would think, I'd wonder, do they sort of, you know, you want them to be investing obviously for the goodness of their heart and for the fact that they want, you know, San Diego to be a bit more green and forward looking. But do you think that there's some research showing that it would be a better investment strategically to move into those sources? Maybe it's like a little bit of a balance of both thing, thinking, damn, like oil is going to not be so strong in the future. Or kind of looking, like you said at this, you know, Korean and Russia situation, kind of saying, hey, like, well, maybe oil is not where you want your money. But you know, maybe on the other side of the coin they're saying, hey, dang, there's some opportunities in, you know, wind electric cars and solar, which we clearly saw from the Super bowl. We saw like 10 new electric cars or some crazy thing. Yeah. So I don't know, it's, it's something to think about, I guess, that's for sure.

Oh, I think there's definitely a business and investment ROI mandate now. I think before it was more for saying it and more for, you know, marketing to say this is something we're standing for. But I think just literally the sanctioning that's happening or the censorship from companies in Russia right Now, literally Shell BP pulling out of Russia, they're writing down 30% ownership in a Russian gas company. That's a loss, right. So that shows up on the balance sheet and shows up in the stock price. So I think you're actually going to start seeing not just geopolitical, but obviously the trend of moving to electric cars will show that the performance of these carbon based companies will, will be lower than, you know, companies that are joining the new economy. So yeah, I think so.

I like it. And one last piece before we cruise on into space is the next time, you know, next time you fly in and out of San Diego, like take a peek at all of the rooftop opportunities for solar, you know, and a lot of times, you know, there is some decent coverage, there's a lot of opportunity if they literally just, you know, we're starting to put panels on, on roofs there. So I think there's a lot of opportunity Just, you know, in our backyard to do that. And I tend to do that when I fly over. But anyways, next time you fly, take a peek.

Definitely. And, and like you mentioned, are they investing in local companies? Sempra Energy being one of the largest San Diego public companies, one to look.

At as well too.

I haven't looked at their stock in a while actually. Have you?

No, not recently. That is interesting.

I am going to check it out because they are a large liquid gas provider, natural liquid gas, which Europe will be looking for a new partner on that. So interesting to keep an eye on. But as you said, we are zooming right along, right into space to our last story here. A story about General Atomics and Orion Space winning a new contract for military weather satellites awarded by the US Space Force. Which man is hard not to laugh every time I see that.

Did you see that show by the way?

I have, yeah, an amazingly funny show. I don't know which got named first. Did the show start and then the government decided to create a new branch of the military called Space Force or vice versa.

It feels a little bit like a boaty McBoat face type thing where the name was a joke and then took off.

Yeah. So in space, we love to talk space here in San Diego. So these are two companies. One San Diego, General Atomics, longtime private company here that has done a ton in aerospace, energy and space itself. And Orion Space, based out of Colorado, teamed up together to do a new military weather satellite demonstration. So Orion's doing the first step, a 2022 demo Nano CubeSat sometime later this year. And then General Atomic is hoping to launch their 400 kilogram demo sat in 2024, maybe 2025. And so these are replacing a ton of older military weather satellites that are starting to run out of fuel. And these satellites really are running at a polar orbit, which means they go, you know, from pole to pole.

So do they. When they. So does the fuel, what does the fuel do? Are you aware of this? Does it keep it in orbit or is the, is it for something else? I'm not really, I don't know.

It's definitely to keep it in orbit. Yep, yep. So depending upon, you know, where, how high the satellite is up, there is actually still some kind of atmospheric drag that happens for a variety of reasons. And so you need to constantly boost your satellite as well as sometimes there's a repositioning for just new area. So maybe it's a satellite that been on a certain orbit and they want to put it in a new orbit. So it feels for both to keep it aloft and to reposition as needed. And even the space station by the way has to do that as well too. So they actually use, they use an existing vehicle, usually it's the Russian Soyuz vehicle. They use that to boost up the space station just before the Soyuz disconnects to bring people back home.

Crazy. Yeah, so, so they will, so running out of fuel, it literally will then send the satellite back, back in, back to Earth, theoretically.

Okay, yes, exactly. And which either is designed to. And there's a lot of, a lot of space pieces that are designed to burn up on their deorbit or some weren't planned to actually come back and don't fully get burned up and pieces end up back here on Earth. So you actually hear this a good chunk sometimes. Recently I think there was a, was it Indian or Chinese booster that didn't make rocket body that didn't make it all the way up. And they were watching it to see, you know, where's it going to land when it comes. But yeah, I think it's interesting that the military has its own weather satellites. I didn't necessarily think about that. I guess it makes sense, you know, they, they need, they obviously need weather in real time and actually no more than now. I've been watching a lot the Ukraine coverage where Ukraine is actually pretty strongly covered in cloud coverage. And it's actually hard for them to look at, you know, minute by minute or hour by hour kind of changes of those Russian convoys. So yeah, kind of makes sense. These are satellites used by US and NATO. And while it is a demonstration, and this is by the way Georgia's first satellite. So this is their first whole new business unit getting into the satel. They have previously done nuclear propulsion systems which we've talked about previously in the past they've done optical systems. So these are like sensors on satellites and other things, payload systems, especially communications work that can communicate to, from military to military especially they've got a whole line of drones. And so now they've got a communication network that can communicate between all of their own devices as well. And so they're hoping this turns into a full 12 satellite order that spins up a whole new satellite business for John. They've actually received 200 million in funding for it so far. And it's cool that this is I think our second satellite maker here in town. ViaSat being the other one who does pretty large scale satellites for communications work too for both military and consumer. Internet actually on like, I think American Airlines uses Them, Alaska uses them. There's a bunch of airlines that use the viasat Internet connection. So. Yeah, another new satellite maker here in town.

Pretty cool to see.

That's awesome.

Yeah. It's funny, you don't even really, I don't know, I don't really think about it. In a weird way, you're just like weather app, tell me what's going on. But you're right, it does take a little bit more technology to really get all that information to us. And actually, you know, if, you know, as we were talking about in the previous story, kind of the, you know, going a little bit, you know, going more carbon neutral and if climate does start to alter and change, it's, you're going to need technology like this to track it and kind of help understand what those, those patterns are and what they're doing so that we can kind of plan for that.

Yeah, and you'd be surprised how many different sensors actually go into looking at weather from space. You know, from being able to look, obviously everyone just thinks like camera, like what the eye can see. But there's so many other, you know, radio wave levels that cameras are looking at to determine other things, whether it's from temperature that you can detect, say maybe in, you know, in another radio frequency. So yeah, it's kind of interesting to think one, why a satellite needs to be so specialized. But one, space is pretty, pretty precious on a, on a satellite and obviously all the sensors that need to go into it as well too. So. Cold asleep. We'll keep track of it. San Diego does space, that's for sure.

We got like one minute left. Any shout outs this week?

Yeah, shout out to the biotech scene. The, really, the real estate scene is biotech is eating our real estate in all good ways. Well, in almost all good ways. And we'll talk on that in a second. But a Canadian real estate firm bought up 13 buildings in Sorrento Mesa for almost $460 million or more than $460 million to create a whole new biotech campus. Sorrento Mesa is kind of this new spillover area out of. Because the Torrey Pines Mesa is packed. And we're seeing it obviously in elsewhere too. We're seeing it along the 56 going east downtown and then Carlsbad being a huge other biotech area. And man, there is just no, there's an unfettered appetite for real estate, for biotech right now. I mentioned the good and the bad.

So it's good.

Lots of new lab space because of the big need for it, but it is pushing out other kinds of businesses and unfortunately we have a story of our own. Hera Hub getting pushed out of their Sorrento Valley space because the building was sold to turn into a biotech campus. So, you know, well, there's the good, there's also the bad as well too. And so if you do know of more space for a great co working space, Hara Hub, they are looking for a new home for their Sorrento campus.

Yeah, that's funny. It really is a balance. Another thing I'd mention is, you know, if it is a Canadian buyer, is that in some ways pulling money out of the the economy even though it is developing it, you know, is that are all those, you know, rent checks going to a company that's not located here and what does that sort of do to impact San Diego? So yeah, like you said, it's. There's pluses and minuses all this. And it is a bummer that awesome co working spaces like Ara Hub are, are being forced to move. I bet you they'll find an even better location though.

I'm sure they will do. But you can bring up a good point. There actually aren't a lot of big biotech real estate development firms here. The one I think of is IQ HQ in Solana beach who are developing the downtown port area. But all the other ones, like even Alexandria, while they have a presence here based in Pasadena, a lot of these other REITs based elsewhere. Yeah, something for us to keep an eye on to see if there's the rise of a local real estate development. Biomed Realty was one and they sold to Blackstone actually. And so Blackstone through Bioman Realty, owns a big chunk of lab space here as well too.

I mean this is like the entire show in and of itself. Because if you think about it, it's like someone else buys a campus, develops it in San Diego, fills it with local people who pay all, you know, pay their way through the city, buy it, you know, get drinks at our local places and kind of spend their money here. It's like, well, wait, you know, it's. There's going to. We need an economist, I think really answer this question here. Which, which I am not. But that's all I have today. I don't know. What about you?

Yeah, no, I think that's a good way to wrap it up. Give us more fodder to talk about in the future. Yeah, it's going to be back here on the show with you. Jonah obviously listened and slacked. You during the entire last two shows. But what's great is having all of you here as well, too. So thank you all for tuning in. This show will be live on the Talkers and Tech podcast shortly as well, too. And check out our other interviews we put out every Tuesday as well, and our fresh BrewTech newsletter, which I think will have a new new one next Tuesday. So freshbrutetech.com you can subscribe to our Every Other Week newsletter about what's the latest going on here. And we'll see you every Friday, 12:30 here live on Twitter Spaces. So thanks everyone. And Jonah, have a good week.

Hey, you too. Stay dry, San Diego.

Cheers.

Bye, everyone.

It.