Some of the most recognizable names in technology are moving beyond the ventures that made them famous, launching new companies that tackle everything from global energy needs to the way families play games. Robinhood co-founder Baiju Bhatt is now developing space-based lasers to power the Earth, while Mirror creator Brynn Putnam is introducing a physical console for face-to-face gaming.
These new projects represent a significant shift from their original, screen-focused businesses, signaling a trend where successful entrepreneurs are using their resources to pursue ambitious, and often unconventional, new ideas.
Key Takeaways
- Robinhood co-founder Baiju Bhatt has launched Aetherflux, a company aiming to create space-based power grids that beam energy to Earth.
- Brynn Putnam, who sold the fitness company Mirror for $500 million, has released Board, a $500 gaming console designed for in-person play.
- These ventures highlight a growing trend of established tech entrepreneurs reinvesting their capital and expertise into new, often more physically-grounded, projects.
- The moves come as other sectors of the economy face uncertainty, with consumer behavior shifting due to inflation and rising subscription costs.
From Stock Trading to Space Lasers
Baiju Bhatt, the billionaire who co-founded the popular stock trading app Robinhood, has turned his attention from financial markets to the cosmos. His latest venture, Aetherflux, is tackling one of the biggest challenges of the 21st century: clean energy.
The company's goal is to establish a network of satellites that can collect solar power in space and transmit it back to Earth using lasers. This concept, known as space-based solar power, aims to provide a constant stream of energy without the limitations of terrestrial solar farms, which are affected by weather and nighttime.
The Concept of Space Power
Space-based solar power is not a new idea, but advancements in rocket technology and solar panel efficiency have made it more feasible. The primary advantage is that satellites in orbit can gather sunlight 24/7, providing a continuous and reliable power source that could potentially revolutionize global energy infrastructure.
Bhatt's move into this highly complex and capital-intensive field demonstrates a significant pivot from the world of fintech. It reflects a desire to solve fundamental global problems, a path taken by other tech leaders who have achieved massive financial success.
Reinventing Family Game Night
In a similar vein, Brynn Putnam is moving from digital fitness to physical interaction. After selling her company Mirror, an interactive home gym, to Lululemon, Putnam is launching a new product called Board. It is a gaming console, but one that intentionally moves away from isolating screen time.
Priced at $500, Board is designed to facilitate face-to-face games, reimagining traditional board games and interactive play for a modern audience. The console acts as a central hub for gameplay that encourages people in the same room to engage with each other directly.
The launch of Board comes at a time when many consumers are experiencing "subscription fatigue." An economist from Bank of America, David Tinsley, recently noted that rising costs for streaming and digital services are causing consumers to cancel subscriptions more frequently, suggesting a potential market for entertainment options that don't rely on recurring fees.
Putnam's new venture is a direct response to the digital saturation that her previous product, Mirror, was a part of. By focusing on tangible, in-person experiences, Board aims to capture a market of families and friends looking to disconnect from their individual screens and reconnect with each other.
The Broader Landscape of Innovation and Investment
The ambitious projects from Bhatt and Putnam are part of a larger economic picture where innovation continues despite broader market uncertainties. While some established tech giants like Alphabet, Amazon, and Microsoft report mixed earnings, a new generation of companies is emerging to tackle different challenges.
For instance, companies like Patriot Critical Minerals are focused on shoring up America's supply of essential materials for technology and defense. At the same time, ag-tech firms like Opti-Harvest are developing climate-smart solutions to help farmers increase their yields sustainably.
"We are seeing a clear divergence in the market. While a handful of AI-related stocks are propping up major indices, many other companies are navigating a more challenging environment," stated Gil Luria, a technology strategist at D.A. Davidson, commenting on recent big tech earnings.
This environment creates opportunities for well-funded entrepreneurs to invest in long-term, high-risk, high-reward projects. Their ability to self-fund or attract significant private investment allows them to operate outside the pressures of quarterly earnings reports that dominate publicly traded companies.
Navigating Economic Headwinds
These new ventures are launching into a complex economic climate. The Federal Reserve recently implemented a 25-basis-point rate cut, a move intended to stimulate the economy. However, concerns about inflation persist.
According to Stephen Kates, a financial analyst at Bankrate, the rate cut is a delicate balancing act. While it may provide some relief for consumers, the risk of reigniting inflation remains a key concern for policymakers. This economic uncertainty influences everything from consumer spending habits to investor confidence in new technologies.
Furthermore, the market is not without its own internal conflicts. Major corporate moves, such as Getty's proposed $3.7 billion acquisition of Shutterstock, are facing intense regulatory scrutiny. In the media world, disputes between content providers and distributors, like Disney's content being removed from YouTube TV, highlight the ongoing shifts in how people consume entertainment.
Against this backdrop, the bold moves by entrepreneurs like Bhatt and Putnam are even more notable. They are not just creating new products; they are placing bets on a future where technology can solve physical-world problems, from energy independence to social connection.
