Chad Rigetti at Startup School SV 2016

TL;DR

Rigetti Quantum Computing started with nothing in YC Summer 2014 and built a five-qubit quantum computer in less than two years. Hard tech companies face fundamental questions of possibility, but success creates monumental leverage and defensibility (e.g., Manhattan Project, Apollo missions).

Key insights

• Quantum computers store and process information in individual photons, while an iPhone 7 uses about 100 billion photons per bit transmitted – quantum is far more efficient.
• Hard tech companies must operate in arenas without well-developed supply chains, requiring in-house development of everything from design methods to fabs to cloud software.
• The distinction between hard tech and tech: hard tech adds a layer of fundamental questions of possibility on top of standard execution and market risk.