1 00:00:15,076 --> 00:00:21,676 Speaker 1: Pushkin. I'm Mave Higgins, and this is Solvable Interviews with 2 00:00:21,756 --> 00:00:25,156 Speaker 1: the world's most innovative thinkers working to solve the world's 3 00:00:25,196 --> 00:00:30,276 Speaker 1: biggest problems. My Solvable is to balance the carbon cycle 4 00:00:30,396 --> 00:00:35,916 Speaker 1: and find climate change through incentivized prizes and innovation. Now, 5 00:00:35,956 --> 00:00:39,996 Speaker 1: we told you that Solvable likes to tackle the biggest problems, 6 00:00:39,996 --> 00:00:43,716 Speaker 1: and this one may even be the biggest climate change 7 00:00:43,716 --> 00:00:48,836 Speaker 1: effects and exacerbates many of the other complex problems humankind 8 00:00:49,116 --> 00:00:52,076 Speaker 1: is grappling with. We have heard from people working to 9 00:00:52,196 --> 00:00:56,116 Speaker 1: reduce our use of fossil fuels, to prevent food waste, 10 00:00:56,156 --> 00:01:00,756 Speaker 1: and to resolve conflicts that arise from climate change related shortages. 11 00:01:01,476 --> 00:01:04,956 Speaker 1: This episode, our guest is trying to fix climate change 12 00:01:04,996 --> 00:01:08,716 Speaker 1: head on. She is a neute and sorry, the CEO 13 00:01:08,836 --> 00:01:13,676 Speaker 1: of the X Prize Foundation, and she's an astronaut. Throw 14 00:01:13,716 --> 00:01:16,756 Speaker 1: your mind back to science class and univercall that carbon 15 00:01:16,756 --> 00:01:21,996 Speaker 1: dioxide enters the atmosphere through burning fossil fuels, solid waste, trees, 16 00:01:22,036 --> 00:01:26,236 Speaker 1: and other biological materials. Some of that cootwo is absorbed 17 00:01:26,236 --> 00:01:29,996 Speaker 1: by plants as part of the biological carbon cycle, but 18 00:01:30,596 --> 00:01:33,676 Speaker 1: we're pumping out so much of it. Those natural cycles 19 00:01:33,996 --> 00:01:36,996 Speaker 1: they can cope. That means there's too much CO two 20 00:01:37,236 --> 00:01:41,156 Speaker 1: and other greenhouse gases left in the atmosphere, and this 21 00:01:41,236 --> 00:01:44,556 Speaker 1: messes with the temperature here on Earth, making it hotter 22 00:01:44,956 --> 00:01:50,116 Speaker 1: and making our weather cycles increasingly extreme and unpredictable, with 23 00:01:50,236 --> 00:01:53,836 Speaker 1: knock on effect throughout the ecosystem for all life on Earth. 24 00:01:54,756 --> 00:01:58,396 Speaker 1: The Global Carbon Project reported that carbon emissions reached an 25 00:01:58,396 --> 00:02:01,876 Speaker 1: all time high in twenty eighteen, a terrible new record. 26 00:02:02,156 --> 00:02:05,036 Speaker 1: So we're in the middle of an extinction event. Forests 27 00:02:05,036 --> 00:02:07,956 Speaker 1: are on fire, the seas are dying. There's plastic in 28 00:02:07,996 --> 00:02:12,676 Speaker 1: our blood. But many people are working to prevent climate 29 00:02:12,796 --> 00:02:16,316 Speaker 1: chaos from getting even worse. There are some bright spots 30 00:02:16,396 --> 00:02:20,476 Speaker 1: with huge growth in renewables and other low carbon technologies 31 00:02:20,596 --> 00:02:24,436 Speaker 1: leading the charge. And remember this is solvable. I want 32 00:02:24,436 --> 00:02:27,076 Speaker 1: to read you a quote from the Swedish climate activist 33 00:02:27,156 --> 00:02:31,356 Speaker 1: Greta Thunberg. Here's what she says. It is still not 34 00:02:31,516 --> 00:02:34,836 Speaker 1: too late to act. It will take a far reaching vision, 35 00:02:34,996 --> 00:02:38,596 Speaker 1: it will take courage, It will take fierce, fierce determination 36 00:02:38,676 --> 00:02:41,676 Speaker 1: to act now, to lay the foundations where we may 37 00:02:41,716 --> 00:02:44,516 Speaker 1: not know all the details about how to shape the ceiling. 38 00:02:45,396 --> 00:02:47,676 Speaker 1: And our guest today is one of those women who 39 00:02:47,676 --> 00:02:51,196 Speaker 1: are laying down the foundations for a different, better future. 40 00:02:52,276 --> 00:02:54,996 Speaker 1: Anuche Ansari is an engineer and she was the first 41 00:02:55,036 --> 00:02:59,156 Speaker 1: Iranian ever to go into space. Her organization, the X 42 00:02:59,196 --> 00:03:03,196 Speaker 1: Prize Foundation, runs competitions with huge prizes given out to 43 00:03:03,236 --> 00:03:07,676 Speaker 1: the best problem solving ideas. Previously, they've run competitions to 44 00:03:07,716 --> 00:03:10,996 Speaker 1: empower children, to teach themselves to read and write, to 45 00:03:11,196 --> 00:03:14,836 Speaker 1: develop technology to create water from air, and to create 46 00:03:14,916 --> 00:03:18,956 Speaker 1: monitors that can check ocean water chemistry down to the 47 00:03:18,956 --> 00:03:23,116 Speaker 1: deepest depths. Now, basically anybody can enter these competitions. A 48 00:03:23,196 --> 00:03:26,756 Speaker 1: winning team could be made up of scientists, but the 49 00:03:26,796 --> 00:03:29,876 Speaker 1: prize isn't limited to scientists, so it could be awarded 50 00:03:29,916 --> 00:03:34,916 Speaker 1: to students, teachers, librarians, industrial workers, anybody who comes up 51 00:03:34,916 --> 00:03:38,596 Speaker 1: with the winning solution. The prize and Nusche speaks about 52 00:03:38,636 --> 00:03:42,436 Speaker 1: in this episode is the n ORG Coca Carbon X Prize. 53 00:03:42,996 --> 00:03:46,996 Speaker 1: It seems to develop CO two conversion technologies ultimately to 54 00:03:47,076 --> 00:03:50,156 Speaker 1: be able to remove carbon from the atmosphere and reduce 55 00:03:50,276 --> 00:03:53,796 Speaker 1: climate change. Teams will be judged on how much CO 56 00:03:54,036 --> 00:03:57,076 Speaker 1: two they're able to convert and how much this will cost. 57 00:03:57,556 --> 00:04:01,396 Speaker 1: So instead of backing the development of one potential solution, 58 00:04:01,436 --> 00:04:04,156 Speaker 1: which may or may not work. Anusche believes that the 59 00:04:04,236 --> 00:04:06,996 Speaker 1: competition will mean lots of teams turning their attention to 60 00:04:07,036 --> 00:04:10,876 Speaker 1: the problem, getting us to the ants the faster. So 61 00:04:11,116 --> 00:04:16,036 Speaker 1: here she is in conversation with ann Appabam, So what 62 00:04:16,156 --> 00:04:19,396 Speaker 1: is it about this issue that made you want to 63 00:04:19,396 --> 00:04:22,516 Speaker 1: tackle it? How did you come to the idea of 64 00:04:23,076 --> 00:04:27,156 Speaker 1: giving prices for the solutions to particular issues. The world 65 00:04:27,236 --> 00:04:31,676 Speaker 1: is full of big problems that sometimes they're so big 66 00:04:31,716 --> 00:04:34,996 Speaker 1: that we just turn our heads away from it and 67 00:04:35,236 --> 00:04:37,916 Speaker 1: don't want to deal with it. At the same time, 68 00:04:38,276 --> 00:04:42,836 Speaker 1: as an engineer, I know how technology has advanced rapidly, 69 00:04:42,956 --> 00:04:47,156 Speaker 1: especially in the recent years, and how solutions are within reach. 70 00:04:47,636 --> 00:04:51,156 Speaker 1: But without some effort in bringing these solutions together and 71 00:04:51,236 --> 00:04:54,916 Speaker 1: to market, we won't be able to solve these problems. 72 00:04:55,236 --> 00:04:58,636 Speaker 1: What got me really interested in X price was the 73 00:04:58,636 --> 00:05:03,556 Speaker 1: fact that true incentivized competition we can really raise awareness 74 00:05:03,596 --> 00:05:07,956 Speaker 1: about the problem, the magnitude of the problem, the steps 75 00:05:07,996 --> 00:05:11,076 Speaker 1: to solve those p problems, and also at the same 76 00:05:11,116 --> 00:05:15,356 Speaker 1: time the very special effect of incentivized competition, which is 77 00:05:15,676 --> 00:05:20,276 Speaker 1: a multiplier factor. For example, my family and I became 78 00:05:20,316 --> 00:05:23,956 Speaker 1: involved with X Price Foundation with the first price which 79 00:05:23,996 --> 00:05:28,796 Speaker 1: was around opening up space to private sector, and the 80 00:05:28,956 --> 00:05:33,156 Speaker 1: price purse was ten million dollars, which we sponsored. But 81 00:05:33,276 --> 00:05:36,556 Speaker 1: this ten million dollars brought in hundred million dollars of 82 00:05:36,676 --> 00:05:39,676 Speaker 1: investment through all the teams. There were twenty six teams 83 00:05:39,716 --> 00:05:44,356 Speaker 1: from eleven countries that entered to compete, and this one 84 00:05:44,476 --> 00:05:48,996 Speaker 1: hundred million dollars of investment brought about a lot of innovation, 85 00:05:49,716 --> 00:05:51,916 Speaker 1: some of which some of these teams that didn't even 86 00:05:51,996 --> 00:05:56,116 Speaker 1: win turn out to be valid companies that are sold 87 00:05:56,316 --> 00:06:00,076 Speaker 1: in place today even years after the competition. And not 88 00:06:00,196 --> 00:06:03,596 Speaker 1: only that, we were able through the awareness and education 89 00:06:03,716 --> 00:06:07,876 Speaker 1: that we did with policy makers with the market create 90 00:06:08,196 --> 00:06:12,796 Speaker 1: new policy is that actually helped create a new marketplace 91 00:06:12,876 --> 00:06:17,076 Speaker 1: that estimated to be around ten billion plus some people 92 00:06:17,116 --> 00:06:20,236 Speaker 1: say it's going to get two hundred billion plus very soon. 93 00:06:20,796 --> 00:06:23,916 Speaker 1: And we created this whole economy that didn't exist before. 94 00:06:24,156 --> 00:06:27,276 Speaker 1: And the same thing can be done for all the 95 00:06:27,316 --> 00:06:32,036 Speaker 1: different problems that we have in the world, including the STGs. 96 00:06:32,076 --> 00:06:34,836 Speaker 1: And this is what really attracts me to XPRIS and 97 00:06:34,916 --> 00:06:38,876 Speaker 1: the work we do at the xprice because it really 98 00:06:39,076 --> 00:06:43,836 Speaker 1: makes the problems seem solvable and it creates a way 99 00:06:43,836 --> 00:06:47,676 Speaker 1: for us to see the solutions within reach, and it 100 00:06:47,716 --> 00:06:52,396 Speaker 1: doesn't rely on governments or the private sector alone, but 101 00:06:52,516 --> 00:06:56,996 Speaker 1: the collaboration and a work that encompasses everyone around the 102 00:06:57,076 --> 00:07:00,756 Speaker 1: world to come together and the solutions that comes within 103 00:07:00,836 --> 00:07:04,956 Speaker 1: the crowd. Explain a little bit about what the expris is, 104 00:07:05,076 --> 00:07:08,676 Speaker 1: who thought of it, how does it work? Express Foundation 105 00:07:08,876 --> 00:07:12,196 Speaker 1: was created almost twenty five years ago, which is difficult 106 00:07:12,276 --> 00:07:17,196 Speaker 1: to even fathom, but the founder is Peter Diamandez and 107 00:07:17,796 --> 00:07:23,836 Speaker 1: he is someone who is very solution oriented and he 108 00:07:24,076 --> 00:07:28,476 Speaker 1: also had a passion for going to space. And he 109 00:07:28,676 --> 00:07:31,716 Speaker 1: was given a book by a friend that described the 110 00:07:31,836 --> 00:07:35,436 Speaker 1: life of Charles Limburgh and how he flew from New 111 00:07:35,516 --> 00:07:38,636 Speaker 1: York to Paris to win a prize called Ortique Prize. 112 00:07:38,636 --> 00:07:41,676 Speaker 1: It was a twenty five thousand dollars prize and this 113 00:07:41,836 --> 00:07:46,276 Speaker 1: flight and this prize is what really created the entire 114 00:07:46,316 --> 00:07:50,756 Speaker 1: aviation industry. So since he wanted to go to space, 115 00:07:50,796 --> 00:07:54,076 Speaker 1: he decided, well, maybe he can apply the same thing 116 00:07:54,356 --> 00:07:59,196 Speaker 1: in space and create an incentive prize that will really 117 00:07:59,356 --> 00:08:02,676 Speaker 1: bring a lot of people who would create spaceships to 118 00:08:02,716 --> 00:08:06,596 Speaker 1: go to space and allow for this type of industry 119 00:08:06,636 --> 00:08:11,436 Speaker 1: to be created around space travel. So he calculated roughly 120 00:08:11,436 --> 00:08:14,756 Speaker 1: the twenty five thousand dollars back then would equate to 121 00:08:15,036 --> 00:08:20,836 Speaker 1: ten million dollars of today's money, and he announced the prize. However, 122 00:08:20,956 --> 00:08:23,916 Speaker 1: what he didn't count on was the fact that no 123 00:08:23,956 --> 00:08:26,636 Speaker 1: one would actually want a sponsor it because it would 124 00:08:26,716 --> 00:08:29,636 Speaker 1: be very risky in the mind of a lot of 125 00:08:29,676 --> 00:08:34,636 Speaker 1: corporates and high network individuals. So he tried for many 126 00:08:34,716 --> 00:08:39,236 Speaker 1: years to find a sponsor, and in one article where 127 00:08:39,276 --> 00:08:42,436 Speaker 1: I was interviewed, he read about my passion of going 128 00:08:42,516 --> 00:08:46,516 Speaker 1: to space and we had just sold our company that 129 00:08:46,676 --> 00:08:50,116 Speaker 1: I co founded with my family, and when he read 130 00:08:50,156 --> 00:08:52,676 Speaker 1: that article, he decided that he needs to come talk 131 00:08:52,716 --> 00:08:55,236 Speaker 1: to me, and he found me and told me about 132 00:08:55,276 --> 00:08:59,276 Speaker 1: the prize, And as an entrepreneur, I was fascinated with 133 00:08:59,316 --> 00:09:02,956 Speaker 1: the concept because I thought, Wow, this is de risking 134 00:09:03,716 --> 00:09:07,716 Speaker 1: R and D. This is risking investment in a new 135 00:09:07,836 --> 00:09:11,956 Speaker 1: idea because you really don't pay until someone actually builds 136 00:09:11,996 --> 00:09:16,756 Speaker 1: and shows you the solution works. In tech, you spend 137 00:09:16,796 --> 00:09:18,436 Speaker 1: tons of money in R and D and you don't 138 00:09:18,436 --> 00:09:20,356 Speaker 1: even know if it's going to work at the end 139 00:09:20,476 --> 00:09:23,196 Speaker 1: or not. So to me, it made a lot of sense, 140 00:09:23,236 --> 00:09:27,196 Speaker 1: and my family really was excited about being involved with it, 141 00:09:27,276 --> 00:09:31,236 Speaker 1: so we became the title sponsors, and about four years 142 00:09:31,316 --> 00:09:34,156 Speaker 1: later the prize was one in two thousand and four 143 00:09:34,756 --> 00:09:38,196 Speaker 1: by Bert Rutan, who was backed by Paul Allen. Paul 144 00:09:38,236 --> 00:09:42,716 Speaker 1: Allen invested thirty million dollars in the company Scaled Composite 145 00:09:42,716 --> 00:09:45,796 Speaker 1: with Bert Rutan to win the prize, the ten million 146 00:09:45,836 --> 00:09:49,836 Speaker 1: dollars prize, and right at the time the prize was won, 147 00:09:50,556 --> 00:09:53,596 Speaker 1: Richard Branson announced that he's going to sign a contract 148 00:09:53,636 --> 00:09:57,036 Speaker 1: and make it into a commercial venture, which was always 149 00:09:57,636 --> 00:10:01,956 Speaker 1: our ultimate goal for the prize. So the first prize 150 00:10:01,996 --> 00:10:05,556 Speaker 1: seemed to be so successful in demonstrating all the things 151 00:10:05,556 --> 00:10:08,356 Speaker 1: we hoped, we decided that we need to scale this 152 00:10:08,516 --> 00:10:11,916 Speaker 1: and apply to other problems in the world. So after 153 00:10:11,956 --> 00:10:15,476 Speaker 1: the first price, then truly our work begin in looking 154 00:10:15,476 --> 00:10:18,036 Speaker 1: at what are some of the other grand challenges, because 155 00:10:18,036 --> 00:10:20,236 Speaker 1: if we can solve the problem of going to space, 156 00:10:20,316 --> 00:10:23,636 Speaker 1: we can solve anything now. So that was the idea. 157 00:10:23,796 --> 00:10:27,556 Speaker 1: And Peter is still the executive chairman of the organization 158 00:10:27,636 --> 00:10:31,356 Speaker 1: and very very active and a big proponent of using 159 00:10:31,476 --> 00:10:36,836 Speaker 1: exponential technologies to solve world's grand as challenges. And how 160 00:10:36,876 --> 00:10:39,996 Speaker 1: do you go about choosing what problems can be solving? 161 00:10:40,236 --> 00:10:42,396 Speaker 1: As you say, you know, the world is full of 162 00:10:42,476 --> 00:10:45,796 Speaker 1: difficult issues. What inspires you to choose one over the other. 163 00:10:46,036 --> 00:10:50,356 Speaker 1: We have seven domains that we concentrate our work. In 164 00:10:50,396 --> 00:10:57,636 Speaker 1: those seven domains, it's around education, energy, environment, mobility and transport, 165 00:10:58,316 --> 00:11:05,116 Speaker 1: civil society, health and longevity, and education and when we 166 00:11:05,156 --> 00:11:08,356 Speaker 1: look at problems and which ones are really ex prizes, 167 00:11:08,796 --> 00:11:13,956 Speaker 1: which try to look at a space where not enough 168 00:11:14,476 --> 00:11:17,956 Speaker 1: private or public sector investment and awareness is going. So 169 00:11:17,996 --> 00:11:20,676 Speaker 1: if we feel that the public is very focused on 170 00:11:20,716 --> 00:11:26,476 Speaker 1: solving the problem and their private companies that are investing money, 171 00:11:26,596 --> 00:11:28,916 Speaker 1: or there are lots of NGOs trying to solve that 172 00:11:29,036 --> 00:11:32,676 Speaker 1: problem and they're making good progress, then we don't feel 173 00:11:32,716 --> 00:11:36,116 Speaker 1: like we need to do an incentivized prices. Instead, we 174 00:11:36,316 --> 00:11:39,716 Speaker 1: in each domain, we basically started looking at a desired 175 00:11:39,796 --> 00:11:46,196 Speaker 1: future in different areas. We just published our future Roadmapped 176 00:11:46,676 --> 00:11:49,356 Speaker 1: for forests, so we looked at where do we want 177 00:11:49,396 --> 00:11:53,516 Speaker 1: our forests to be, you know, thirty forty years from now, 178 00:11:53,596 --> 00:11:57,356 Speaker 1: and where are we today? Are we on a trajectory together? 179 00:11:57,676 --> 00:12:01,236 Speaker 1: And if we are not, what is required to shift 180 00:12:01,276 --> 00:12:06,076 Speaker 1: our trajectory together? What technological breakthroughs do we need, What 181 00:12:06,436 --> 00:12:09,796 Speaker 1: policy changes we need, what behavior changes we need? So 182 00:12:09,836 --> 00:12:12,036 Speaker 1: we spend a lot of time studying this and we 183 00:12:12,076 --> 00:12:15,636 Speaker 1: published a report which The Future of Forests is already 184 00:12:16,116 --> 00:12:20,396 Speaker 1: published on our website. And through this process, we identify 185 00:12:20,836 --> 00:12:24,276 Speaker 1: areas of breakthrough and then we analyze to see if 186 00:12:24,356 --> 00:12:27,796 Speaker 1: there is enough work going into creating those breakthroughts. If 187 00:12:27,796 --> 00:12:30,836 Speaker 1: we don't see work going in that direction or investment 188 00:12:30,916 --> 00:12:34,636 Speaker 1: going in that direction, then we create their price around 189 00:12:34,676 --> 00:12:39,076 Speaker 1: it and we launch it through support from sponsors, and 190 00:12:39,116 --> 00:12:42,396 Speaker 1: then we try to shepherd the process to bring those 191 00:12:42,436 --> 00:12:46,116 Speaker 1: solutions to markets. One of the issues that you have 192 00:12:46,436 --> 00:12:48,876 Speaker 1: worked on is the issue of climate change, and this 193 00:12:48,956 --> 00:12:53,956 Speaker 1: is one that's really vast and encompasses everything from climate science, 194 00:12:54,076 --> 00:12:59,676 Speaker 1: to energy technology to as you say, shepherding of organizing 195 00:12:59,676 --> 00:13:02,516 Speaker 1: a forest and so on. How did you break that 196 00:13:02,636 --> 00:13:04,916 Speaker 1: subject down? How did you begin to think about it 197 00:13:04,956 --> 00:13:07,716 Speaker 1: in a narrow solvable way. How did you come to 198 00:13:07,756 --> 00:13:10,756 Speaker 1: the conclusion that this was the piece of it that 199 00:13:10,796 --> 00:13:14,356 Speaker 1: you wanted to tackle, and maybe you could describe what 200 00:13:14,436 --> 00:13:17,876 Speaker 1: that pieces. When we look at the issue of climate change, 201 00:13:17,916 --> 00:13:22,236 Speaker 1: you can, of course look at it in many different directions, 202 00:13:22,876 --> 00:13:26,876 Speaker 1: and we do a lot of different prices and incentives 203 00:13:26,916 --> 00:13:29,716 Speaker 1: that look at these different aspects. So, for example, we 204 00:13:29,756 --> 00:13:32,396 Speaker 1: look at the ocean and the health of the oceans 205 00:13:32,436 --> 00:13:36,996 Speaker 1: and the impact. We looked at the regeneration of corals. 206 00:13:37,036 --> 00:13:39,636 Speaker 1: But the one that we were very concerned about is 207 00:13:39,676 --> 00:13:43,596 Speaker 1: when we looked at global warming specifically and the CO 208 00:13:43,836 --> 00:13:48,276 Speaker 1: two in the atmosphere. There were enough work going toward 209 00:13:48,396 --> 00:13:52,876 Speaker 1: alternative energies, for example, solar wind, and there were plans 210 00:13:52,876 --> 00:13:56,316 Speaker 1: in trying to put these new alternative sources of energies 211 00:13:56,356 --> 00:13:59,156 Speaker 1: in place. But when you look at the numbers and 212 00:13:59,276 --> 00:14:03,476 Speaker 1: you see that we need to take ten billion tons 213 00:14:03,516 --> 00:14:07,596 Speaker 1: of CO two out of the atmosphere before twenty fifty, 214 00:14:07,756 --> 00:14:11,716 Speaker 1: otherwise we will not the one point five degree limit 215 00:14:11,836 --> 00:14:14,716 Speaker 1: that we need to reach, you saw that we're nowhere 216 00:14:14,756 --> 00:14:18,476 Speaker 1: near reaching those numbers. So we needed to look at 217 00:14:18,796 --> 00:14:21,756 Speaker 1: how do we take CO two out of the atmosphere. 218 00:14:22,276 --> 00:14:26,156 Speaker 1: And even though we saw there are some technologies and 219 00:14:26,276 --> 00:14:29,796 Speaker 1: ideas on the table, not enough focus is going to 220 00:14:30,876 --> 00:14:35,876 Speaker 1: actually putting those into place and into the market at 221 00:14:35,956 --> 00:14:41,636 Speaker 1: scale and with a sustainable business model. So what we 222 00:14:41,716 --> 00:14:44,436 Speaker 1: did is we started launching a series of prices. We 223 00:14:44,556 --> 00:14:50,436 Speaker 1: have one active price, the Enrgicocia carbon price. Today is 224 00:14:50,476 --> 00:14:56,436 Speaker 1: about creating a carbon economic carbon cycle where we can 225 00:14:56,636 --> 00:15:02,316 Speaker 1: create a circular economy around carbon based products. And we 226 00:15:02,436 --> 00:15:05,636 Speaker 1: started by the price that we have in places taking 227 00:15:05,756 --> 00:15:10,396 Speaker 1: carbon out of a coal plant or a natural gas 228 00:15:10,396 --> 00:15:14,596 Speaker 1: plan and turning that carbon into a product that can 229 00:15:14,676 --> 00:15:17,716 Speaker 1: go into the market and create an economic value that 230 00:15:17,796 --> 00:15:22,676 Speaker 1: can create this circular economy around carbon. So that is 231 00:15:22,956 --> 00:15:27,076 Speaker 1: one that is active. We have now our finalists going 232 00:15:27,116 --> 00:15:31,476 Speaker 1: through the testing process and we're hoping to announce the 233 00:15:31,516 --> 00:15:36,116 Speaker 1: winners in about a year or so. And along the 234 00:15:36,196 --> 00:15:40,196 Speaker 1: same line, we started looking at solutions that will actually 235 00:15:40,236 --> 00:15:43,316 Speaker 1: now take carbon out of the atmosphere or out of 236 00:15:43,316 --> 00:15:46,596 Speaker 1: the oceans, and that is one that we're designing. And 237 00:15:46,636 --> 00:15:50,316 Speaker 1: we are always making sure that we don't prescribe a 238 00:15:50,476 --> 00:15:54,396 Speaker 1: specific solution, but really spend a lot of time in 239 00:15:54,556 --> 00:15:58,836 Speaker 1: framing the problem in a way that we can characterize 240 00:15:59,156 --> 00:16:02,556 Speaker 1: the type of solutions that are needed to make sure 241 00:16:02,596 --> 00:16:07,876 Speaker 1: that they're scalable, that they're sustainable, that they actually do 242 00:16:08,156 --> 00:16:12,796 Speaker 1: enough in advancing the solutions into a place that will 243 00:16:12,876 --> 00:16:17,116 Speaker 1: have a major impact in solving the problem. And as 244 00:16:17,116 --> 00:16:20,236 Speaker 1: long as the solutions meet those criterias and we can 245 00:16:20,356 --> 00:16:23,516 Speaker 1: measure them, we don't prescribe what technology they need to 246 00:16:23,556 --> 00:16:26,836 Speaker 1: be using. For example, they may come up with a 247 00:16:26,916 --> 00:16:31,956 Speaker 1: solution for plants that would capture carbon and store it 248 00:16:32,036 --> 00:16:35,036 Speaker 1: in the soil or in the root, or things like 249 00:16:35,276 --> 00:16:39,556 Speaker 1: kelp on the oceans that can extract CO two, or 250 00:16:39,716 --> 00:16:43,476 Speaker 1: ways of just directly extracting C two from the atmosphere. 251 00:16:43,516 --> 00:16:46,036 Speaker 1: So it can be any of these solutions, but all 252 00:16:46,076 --> 00:16:49,356 Speaker 1: of them can compete for the price and win the price. 253 00:16:49,476 --> 00:16:52,516 Speaker 1: So this is one that we're designing right now, and 254 00:16:52,636 --> 00:16:57,996 Speaker 1: we're creating a coalition of sponsors to really launch these 255 00:16:58,436 --> 00:17:03,676 Speaker 1: probably our largest ever ex price, to really bring massive 256 00:17:03,716 --> 00:17:07,556 Speaker 1: attention to this problem and hopefully solve it once and 257 00:17:07,676 --> 00:17:12,156 Speaker 1: for all for everyone. And why are the companies and 258 00:17:12,356 --> 00:17:15,796 Speaker 1: groups of scientists who are competing for this why do 259 00:17:15,916 --> 00:17:17,676 Speaker 1: they do it? I mean they might not win, right, 260 00:17:17,716 --> 00:17:20,636 Speaker 1: so maybe they'll spend five years trying to design a 261 00:17:20,676 --> 00:17:22,956 Speaker 1: system and then they won't win the prize at the end. 262 00:17:23,396 --> 00:17:25,876 Speaker 1: Why is this a sufficient incentive for them? I mean, 263 00:17:25,876 --> 00:17:28,676 Speaker 1: why does this work? This is a very good question 264 00:17:28,916 --> 00:17:33,636 Speaker 1: and something that we really like about this incentive prize 265 00:17:33,716 --> 00:17:37,556 Speaker 1: model because it's not just about the winner, is about 266 00:17:37,596 --> 00:17:40,996 Speaker 1: all those teams that enter, and especially the ones that 267 00:17:41,076 --> 00:17:44,836 Speaker 1: make it to the semi finals. What we've seen is 268 00:17:44,996 --> 00:17:48,356 Speaker 1: we had, for example, prizes like the Google Learner X 269 00:17:48,396 --> 00:17:52,236 Speaker 1: prize that expired, so the price pers went the way 270 00:17:52,356 --> 00:17:57,996 Speaker 1: the teams continue to develop their solutions and it became 271 00:17:58,036 --> 00:18:02,076 Speaker 1: a project of passion and also a project that they 272 00:18:02,156 --> 00:18:06,796 Speaker 1: knew once they finished and demonstrate the technology, there will 273 00:18:06,876 --> 00:18:10,316 Speaker 1: be a marketplace for it. Part of the work we do. 274 00:18:10,396 --> 00:18:13,996 Speaker 1: The prizes we run are not short term prizes because 275 00:18:14,036 --> 00:18:17,036 Speaker 1: we actually ask people to build the solution, so they 276 00:18:17,036 --> 00:18:20,716 Speaker 1: could be anywhere between three, five, sometimes ten years before 277 00:18:20,756 --> 00:18:24,116 Speaker 1: they win the prize. So they enter this not just 278 00:18:24,396 --> 00:18:27,276 Speaker 1: as you know, I want my idea to win, but 279 00:18:27,316 --> 00:18:31,116 Speaker 1: they are really committing capital and R and D to 280 00:18:31,396 --> 00:18:34,516 Speaker 1: building a solution that they believe will have a marketplace. 281 00:18:34,956 --> 00:18:38,356 Speaker 1: And the work we do in the background is through 282 00:18:38,516 --> 00:18:43,276 Speaker 1: policy changes, through awareness, create a marketplace for these solutions, 283 00:18:43,556 --> 00:18:47,636 Speaker 1: because now we're shining a lot about how these companies 284 00:18:47,676 --> 00:18:52,316 Speaker 1: can solve massive problems and can have a valid business model. 285 00:18:52,716 --> 00:18:55,476 Speaker 1: That's why, you know, the teams continue to compete even 286 00:18:55,676 --> 00:18:58,716 Speaker 1: if they don't win, a lot of them become very 287 00:18:58,756 --> 00:19:03,876 Speaker 1: successful companies post prize. And we also see sometimes the 288 00:19:03,916 --> 00:19:07,556 Speaker 1: companies or the teams merge in this process so they 289 00:19:07,636 --> 00:19:11,236 Speaker 1: make it to the semi finals, and then one has 290 00:19:11,276 --> 00:19:15,116 Speaker 1: a technology that's better in one aspect of the solution, 291 00:19:15,196 --> 00:19:18,036 Speaker 1: and the other has this technology that is better in 292 00:19:18,076 --> 00:19:21,196 Speaker 1: another aspect, and they feel like by combining they can 293 00:19:21,396 --> 00:19:24,156 Speaker 1: have a better chance of first making it to the 294 00:19:24,196 --> 00:19:27,796 Speaker 1: finals and to winning the price. So we see collaboration 295 00:19:27,916 --> 00:19:32,556 Speaker 1: happening even though it's a competition, and we see a 296 00:19:32,556 --> 00:19:36,036 Speaker 1: lot of companies continuing on even if they don't win 297 00:19:36,076 --> 00:19:39,396 Speaker 1: the price. What makes you so sure that there is 298 00:19:39,476 --> 00:19:42,076 Speaker 1: a solution? How do you know that it's possible to 299 00:19:42,076 --> 00:19:44,676 Speaker 1: take carbon out of the atmosphere or out of the oceans. 300 00:19:45,476 --> 00:19:48,836 Speaker 1: As part of our process when we design a price, 301 00:19:48,996 --> 00:19:51,596 Speaker 1: we do a lot of due diligence to make sure 302 00:19:51,636 --> 00:19:54,916 Speaker 1: that while we push the boundaries and make sure that 303 00:19:55,076 --> 00:19:59,556 Speaker 1: our prizes are audacious, we make sure that they're achievable. 304 00:20:00,036 --> 00:20:02,676 Speaker 1: We don't succeed always. Sometimes we're a little bit too 305 00:20:02,796 --> 00:20:07,196 Speaker 1: ambitious in our desire, but we want to be on 306 00:20:07,236 --> 00:20:11,996 Speaker 1: the edge. But we do some studies through a network 307 00:20:12,036 --> 00:20:17,516 Speaker 1: of advisors and the experts that we create online and 308 00:20:17,876 --> 00:20:20,556 Speaker 1: the work we do to see where is the state 309 00:20:20,596 --> 00:20:24,196 Speaker 1: of technology and how far can it go? What are 310 00:20:24,276 --> 00:20:28,156 Speaker 1: some of the breakthroughs that are needed to happen to 311 00:20:28,196 --> 00:20:32,636 Speaker 1: make it possible. Can they be done based on the 312 00:20:32,716 --> 00:20:36,596 Speaker 1: More's law and the curves that we've seen with technology 313 00:20:36,636 --> 00:20:40,596 Speaker 1: and price reduction and miniaturization. Can this be achieved in 314 00:20:40,676 --> 00:20:43,716 Speaker 1: two years from now, for example? And if we see 315 00:20:43,716 --> 00:20:47,836 Speaker 1: it as a possibility, that's how we design our prices 316 00:20:47,876 --> 00:20:50,596 Speaker 1: to make sure that the solutions are sort of pushing 317 00:20:50,596 --> 00:20:54,556 Speaker 1: the boundaries, but just enough that they can be achieved. 318 00:20:55,396 --> 00:20:58,756 Speaker 1: And what if they're multiple ways to solve a particular problem. 319 00:20:58,756 --> 00:21:00,796 Speaker 1: I mean, actually, in the case of carbon extraction, I 320 00:21:00,796 --> 00:21:05,236 Speaker 1: can imagine there might be completely different technologies which could work. 321 00:21:05,396 --> 00:21:10,156 Speaker 1: We are actually not concerned about the approach to solve 322 00:21:10,236 --> 00:21:14,476 Speaker 1: the problem. We're only concerned about solving the problem. So 323 00:21:14,516 --> 00:21:18,836 Speaker 1: that's why the way we've framed the problems are very 324 00:21:18,876 --> 00:21:23,596 Speaker 1: important for us not to really limit the type of innovations. 325 00:21:24,196 --> 00:21:30,596 Speaker 1: We would, for example, ask you to remove x amount 326 00:21:30,676 --> 00:21:36,076 Speaker 1: of carbon out of the atmosphere in so much time 327 00:21:36,676 --> 00:21:40,356 Speaker 1: at so much cost, and be able to do it, 328 00:21:40,396 --> 00:21:44,076 Speaker 1: for example, for an extended period of time. This doesn't 329 00:21:44,116 --> 00:21:46,236 Speaker 1: tell you how to do it. It just tells you 330 00:21:46,396 --> 00:21:49,956 Speaker 1: the outcome that we want out of the solution. But 331 00:21:50,116 --> 00:21:52,836 Speaker 1: everything that I said are things that can be measured 332 00:21:52,996 --> 00:21:56,476 Speaker 1: very clearly, so you can come up with whatever solution 333 00:21:56,556 --> 00:22:00,036 Speaker 1: you want as long as you achieve those criterias. And 334 00:22:00,076 --> 00:22:02,916 Speaker 1: it's important because we don't know what the solution will 335 00:22:02,956 --> 00:22:05,196 Speaker 1: look like. By saying that you have to do it 336 00:22:05,316 --> 00:22:09,756 Speaker 1: by using, for example, for a station or a station, 337 00:22:10,276 --> 00:22:12,996 Speaker 1: we may that may not be the best solution. Or 338 00:22:13,036 --> 00:22:15,516 Speaker 1: if we say you have to do it by you know, 339 00:22:15,556 --> 00:22:18,476 Speaker 1: putting kelvin the ocean, that may not be the best solution. 340 00:22:18,876 --> 00:22:21,836 Speaker 1: So we don't prescribe it because we don't know the answers. 341 00:22:22,076 --> 00:22:24,276 Speaker 1: We want people to come up with answers that we 342 00:22:24,316 --> 00:22:26,876 Speaker 1: may not even have taught of. But we want to 343 00:22:26,916 --> 00:22:30,356 Speaker 1: still achieve the final goals, which is, we need to 344 00:22:30,396 --> 00:22:33,356 Speaker 1: get this much carbon out of the atmosphere or will 345 00:22:33,436 --> 00:22:37,436 Speaker 1: be in trouble. And that's the steps that will help 346 00:22:37,516 --> 00:22:41,676 Speaker 1: us get there. So what kinds of people introduce competitions 347 00:22:41,716 --> 00:22:48,236 Speaker 1: for your prizes? We basically look for everyone within the field, 348 00:22:48,436 --> 00:22:52,236 Speaker 1: and especially if people outside the field. I can tell 349 00:22:52,276 --> 00:22:57,436 Speaker 1: you that we have people of all sorts of backgrounds 350 00:22:57,476 --> 00:23:04,676 Speaker 1: and different age groups, genders, geographic locations entering for our competitions. 351 00:23:05,036 --> 00:23:09,836 Speaker 1: We just announced recently the winners of our Ocean Discovery Xprize, 352 00:23:09,956 --> 00:23:14,836 Speaker 1: and we had a bonus prize sponsored by Noah and 353 00:23:15,036 --> 00:23:18,196 Speaker 1: it was won by a junior high school team and 354 00:23:18,596 --> 00:23:22,796 Speaker 1: nobody believed they would win. They were surprised. They want 355 00:23:22,996 --> 00:23:25,676 Speaker 1: They want eight hundred thousand dollars, which is a lot 356 00:23:25,716 --> 00:23:29,196 Speaker 1: of money for a group of junior high schoolers. On 357 00:23:29,236 --> 00:23:34,556 Speaker 1: the other side, we have retired scientists who read about 358 00:23:34,596 --> 00:23:37,116 Speaker 1: a prize in a newspaper and decided to form a 359 00:23:37,116 --> 00:23:41,196 Speaker 1: team and compete, and then they won. We had a 360 00:23:41,236 --> 00:23:46,156 Speaker 1: person that was a tattoo artists in Las Vegas that 361 00:23:46,516 --> 00:23:51,076 Speaker 1: learned about our Ocean Cleanup Exprise and formed a team 362 00:23:51,076 --> 00:23:54,516 Speaker 1: and thought about using some of the techniques used to 363 00:23:55,556 --> 00:23:59,836 Speaker 1: extract inc to use to extract oil when there's an 364 00:23:59,836 --> 00:24:03,876 Speaker 1: oil spill. So those are the type of innovations that 365 00:24:04,276 --> 00:24:08,556 Speaker 1: we loved because he would have never thought about solving 366 00:24:08,796 --> 00:24:11,516 Speaker 1: oil clean up if it wasn't for our prize. And 367 00:24:11,636 --> 00:24:14,596 Speaker 1: those are the types of innovation that usually come up 368 00:24:14,636 --> 00:24:19,236 Speaker 1: with the most drastic approach to solving a problem. And 369 00:24:19,636 --> 00:24:22,116 Speaker 1: those are the type of solutions we love to see. 370 00:24:22,276 --> 00:24:27,236 Speaker 1: And that's the beauty of exprice. So listeners who are 371 00:24:27,276 --> 00:24:30,276 Speaker 1: inspired by what you say what can they do to 372 00:24:30,356 --> 00:24:33,956 Speaker 1: help contribute to your attempt to solve some of the 373 00:24:33,996 --> 00:24:37,996 Speaker 1: world's biggest problems. So the first thing I would say is, 374 00:24:38,276 --> 00:24:41,716 Speaker 1: if there is a grand challenge out there that you're 375 00:24:41,836 --> 00:24:44,956 Speaker 1: passionate about and you want to solve, think of Exprice 376 00:24:45,076 --> 00:24:48,636 Speaker 1: Foundation as a platform, as an impact platform that you 377 00:24:48,716 --> 00:24:51,476 Speaker 1: can come to us and let us see if we 378 00:24:51,516 --> 00:24:56,316 Speaker 1: can help solve that problem through incentivized prices. The other 379 00:24:56,356 --> 00:24:59,676 Speaker 1: thing I would love for everyone to consider is if 380 00:24:59,716 --> 00:25:02,516 Speaker 1: they want to go to our website and look at 381 00:25:02,556 --> 00:25:05,036 Speaker 1: some of our active prices, if they want to compete 382 00:25:05,356 --> 00:25:08,396 Speaker 1: and create teams and be part of the solution and 383 00:25:08,796 --> 00:25:12,836 Speaker 1: come with those innovative solutions. We always look for really 384 00:25:12,876 --> 00:25:16,676 Speaker 1: wide variety of people who would compete for our prizes 385 00:25:17,396 --> 00:25:20,276 Speaker 1: and to get the word out about our work, because 386 00:25:20,356 --> 00:25:25,436 Speaker 1: I think it's very important for people to know that 387 00:25:25,476 --> 00:25:30,756 Speaker 1: there is this approach about solving problems. We also have 388 00:25:31,116 --> 00:25:35,276 Speaker 1: a active price that I think is very important, and 389 00:25:35,396 --> 00:25:39,956 Speaker 1: as I mentioned before, we have an active carbon price 390 00:25:40,036 --> 00:25:42,916 Speaker 1: and we're about to launch a new carbon price. As 391 00:25:42,996 --> 00:25:47,636 Speaker 1: part of this, we have been looking at creating a 392 00:25:47,716 --> 00:25:52,596 Speaker 1: coalition that would allow us to create this circle carbon 393 00:25:52,756 --> 00:25:59,356 Speaker 1: economy and that requires investors, innovators, public and private sector 394 00:25:59,436 --> 00:26:04,036 Speaker 1: to come together. So these are nascent technologies. Even though 395 00:26:04,116 --> 00:26:08,156 Speaker 1: they're technologically possible and we're going to help them to 396 00:26:08,356 --> 00:26:13,556 Speaker 1: our process demonstrate valid solutions, they will still require a 397 00:26:13,596 --> 00:26:18,916 Speaker 1: network of investors and policymakers that can help them take 398 00:26:18,996 --> 00:26:22,516 Speaker 1: these solutions to the market. So anyone who's interested to 399 00:26:23,276 --> 00:26:27,076 Speaker 1: support us with this activity, to get to know our teams, 400 00:26:27,156 --> 00:26:30,996 Speaker 1: to invest in them, to help them find ways to 401 00:26:31,036 --> 00:26:34,556 Speaker 1: take their solutions to the market, we would really welcome that. 402 00:26:36,076 --> 00:26:39,556 Speaker 1: So we know how essential it has become to prevent 403 00:26:39,756 --> 00:26:44,756 Speaker 1: further climate chaos caused by CO two emissions. We also 404 00:26:44,876 --> 00:26:47,796 Speaker 1: know that science and technology can help us out of 405 00:26:47,796 --> 00:26:51,436 Speaker 1: this mess, or they can get us further into us. 406 00:26:52,116 --> 00:26:55,556 Speaker 1: Incentivizing the best and brightest minds to focus on a 407 00:26:55,636 --> 00:27:00,596 Speaker 1: solution is actually such an exciting solution in itself. X 408 00:27:00,636 --> 00:27:03,956 Speaker 1: Prize has been going since nineteen ninety four, and there's 409 00:27:03,956 --> 00:27:07,516 Speaker 1: a long history preceding that too. You heard Nute talking 410 00:27:07,556 --> 00:27:11,476 Speaker 1: about this competition, the Taig Prize, which was a twenty 411 00:27:11,476 --> 00:27:15,716 Speaker 1: five thousand dollar prize offered by hotel owner William Ortaig 412 00:27:15,916 --> 00:27:19,876 Speaker 1: back in nineteen nineteen for whoever could successfully fly from 413 00:27:20,036 --> 00:27:24,396 Speaker 1: New York to Paris or vice versa. Charles Lindbergh safely 414 00:27:24,436 --> 00:27:27,316 Speaker 1: made the trip in nineteen twenty seven, but a number 415 00:27:27,316 --> 00:27:29,756 Speaker 1: of men were killed and injured trying to get the 416 00:27:29,756 --> 00:27:33,076 Speaker 1: prize before him. And it's ironic that today some of 417 00:27:33,076 --> 00:27:35,716 Speaker 1: the co two in the atmosphere is emitted by the 418 00:27:35,756 --> 00:27:39,756 Speaker 1: flights we take around the world. But despite the danger 419 00:27:39,956 --> 00:27:44,316 Speaker 1: and the unintended consequences of that early competition, it's still 420 00:27:44,356 --> 00:27:48,036 Speaker 1: so cool to hear that. After his win, Charles Lindbergh 421 00:27:48,156 --> 00:27:52,356 Speaker 1: is reported as saying, I don't believe in taking foolish chances, 422 00:27:52,676 --> 00:27:55,796 Speaker 1: but nothing can be accomplished by not taking a chance 423 00:27:55,876 --> 00:28:02,516 Speaker 1: at all. Solvable is a collaboration between Putkin Industries and 424 00:28:02,596 --> 00:28:06,956 Speaker 1: the Rockefella Foundation, with production by Laura Hyde, Hester Kant, 425 00:28:07,036 --> 00:28:10,756 Speaker 1: Laura Sheeter, and Ruth Barnes from Talk and Blade. Pushkin's 426 00:28:10,796 --> 00:28:15,756 Speaker 1: executive producer is Neil LaBelle. Researched by sher Vincent, Engineering 427 00:28:15,796 --> 00:28:19,516 Speaker 1: by Jason Gambrel and the Great Folks at GSI Studios. 428 00:28:19,996 --> 00:28:23,676 Speaker 1: Original music composed by Pascal Wise and special thanks to 429 00:28:23,916 --> 00:28:28,996 Speaker 1: Maggie Taylor, Heather Fine, Julia Barton, Carli Mgliori, Jacob Weisberg 430 00:28:29,036 --> 00:28:32,596 Speaker 1: and Malcolm Gladwell. You can learn more about solving today's 431 00:28:32,636 --> 00:28:38,276 Speaker 1: biggest problems at Rockefeller Foundation dot org slash solvable. I'm 432 00:28:38,316 --> 00:28:40,196 Speaker 1: Mave Higgins. Now got solve it.