Nikola is NO MORE

Top News

• Nikola files for Chapter 11: Once valued at $30 billion, EV truck maker Nikola has filed for bankruptcy protection. The company has been on the rocks ever since allegations of wire and securities fraud started swirling around founder and former CEO Trevor Milton; he was convicted and sentenced to four years in federal prison in 2022. (Our TWiST interview with Milton apparently came up during his legal proceedings.) It’s an important lesson for founders: Boundless enthusiasm and optimistic predictions are one thing, but outright knowing lies are a crime.

• X explores new funding: According to Bloomberg, Elon Musk is hoping to raise some new funding for everyone’s favorite social media platform at a $44 billion valuation. (That’s exactly what Musk reluctantly paid for the platform, back when it was still called Twitter, in 2022.) Making Musk whole may sound outlandish but, according to WSJ, X’s financial fortunes have taken a turn for the positive, particularly after a boost in ad sales from Election 2024.

• Microsoft’s BIG quantum computing claim: In a newly published paper, Microsoft scientists claim they’ve taken a huge step toward quantum computing, successfully creating the first “topological qubits.” (In a breathless post to X, MSFT CEO Satya Nadella refers to these qubits as “an entirely new state of matter.”) Nature suggests that not all theoretical physicists are entirely convinced Microsoft’s scientists observed what they’re claiming… That’s right, these quantum scientists are getting… entangled.

TWiST500

Over on X, we shared a fun video from Barrett Ames of BotBuilt showing the company’s gigantic robot arms beginning the process of assembling a house. Unlike some competitors’ systems, in which each new design and set-up requires a lot of trial & error and fine tuning, Ames suggests BotBuilt’s factory is able to switch up floorplans in well under an hour.

Turns out, a lot of TWiST500 companies are making similar advancements in the realm of robotic construction.

Azure Printed Homes designs and 3D prints small, futuristic, modular homes out of plastic waste and recycled materials. Each Azure house uses up the equivalent of 100,000 plastic bottles!

Dusty Robotics takes a different approach to aiding home construction. Rather than actually building a house with robots, Dusty employs a Roomba-esque “FieldPrinter system” to mark up the floor under which buildings will be constructed, ensuring everyone on the job site knows what to do and remains on the same page.

Local Austin favorites ICON Technology constructs 3D printed buildings and entire housing developments, including this 3D printed “Innovation Center” at Texas’s Camp Mabry. ICON is pivoting slightly, narrowing focus as they work to get their designs out to actual IRL builders, and accelerating work on their latest robotics system, codenamed Phoenix.

We’re definitely keeping an eye on this sector, if only because the demo videos look cool and make for solid podcast fodder. – Lon

A message from LinkedIn LMS

Start converting your B2B audience into high quality leads today. We’ll even give you a $100 credit on your next campaign. Go to LinkedIn.com/thisweekinstartups to claim your credit.

This Week in Startups

E2085: IPO shakeups, big AI moves, and essential founder hacks—this episode covers it all. Jason breaks down Robinhood’s 6X stock surge and his strategy for $HOOD, plus the latest on tech IPOs as Turo pulls out and SailPoint surges. We dive into AI’s open-source battle, with X.ai chasing a $10B raise and DeepSeek challenging Hugging Face. And for founders, Jason shares the startup golden rule you should break for success—plus, a brand-new startup idea he’s willing to fund right now.

E2084: Jason and Alex interview Sam Lessin from Slow Ventures to discuss the creator economy and their $60M creator fun. They also have a great interview with David Kirtley, the CEO and Co-founder of Helion Energy, about their fusion reactors and the future of energy generation. And Lon Harris hops in to discuss copyright infringement and how it will affect LLMs. Great episode!

E2083: Former newsreader Lon makes a prodigal son-esque return to the show this week to chat with Jason and Alex about all the tech ads that aired during Super Bowl LIX, and they pick some of their favorite (and least favorite) spots. Then Jason and Alex cover France’s investment strategy when it comes to AI innovation, and AI’s likely impact on employment in the IT sphere, plus they look ahead to some key upcoming earnings reports. All that and the latest on the Founder Fridays competition.

TWiST Partner Offers

• NetSuite: Once your business gets to a certain size the cracks start to emerge.  Things you used to do in a day take a week. You deserve a customized solution - and that's NetSuite. Learn more when you download NetSuite’s popular KPI Checklist - absolutely free, at https://www.NetSuite.com/twist

• Northwest Registered Agent: Starting your business should be simple. With Northwest Registered Agent, you can form your entire business identity in just 10 clicks and 10 minutes. From LLCs to trademarks, domains to custom websites, they’ve got you covered. Get more privacy, more options, and more done—visit https://www.northwestregisteredagent.com/twist today!

• Horatio: Customer experience can make or break your business. Horatio provides top-tier outsourcing solutions to support and delight your customers, so you can focus on growth. Visit https://www.hirehoratio.com/twist and get $2,000 off your initial set up.

Founder University

Applications are open for Founder University Cohort 10, a 12-week remote pre-accelerator program tailored towards navigating early-startup practices, building an MVP, and growing traction. Submit your application at Founder University— Cohort 10 will kick off Spring 2025!

The TWiST500 newsletter is the new, updated, and improved TWiST Ticker.