Tim DraperFounder and Managing Partne, Draper Associate · I back the ideas that look crazy first

Why solar energy? #shorts

18 Jul 2024 · 1 min

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0:36

A company pivots to solar energy not because of crypto market crashes, but because of severe electricity shortages in the country. Q4 sales hit roughly R20 million, and their NFT business is performing well.

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So did we make this move to renewable and solar energy because of the crypto crash?
Absolutely not. So in Q4, we did about R20 million worth of sales, and our NFT, standard NFT business has been going really, really well. It's because we're in a dire crisis. We can't hope to build a sustainable technology business in a country that doesn't even have electricity. We see it as a responsibility to try and participate in fixing that issue first and foremost. It fits so perfectly into what our mission has been and what we wanted to do. So it's almost like been staring us in the face, and, and we're really excited to, to do it.