![]() ![]() They will be used commercially next year. These chips are fully functional and have been shown to receive and transmit to customers. This next-generation Wi-Fi covers 100x the area or 1000x the volume of existing Wi-Fi. The Wi-Fi signal travels 10x times further than longer-distance Wi-Fi, is low-cost and operates on exceptionally low power. Morse Micro new WiFi chip is now bringing back that to Sydney with a number of customers that are starting to order chips for use globally. Wi-Fi from space - an innovative leap set to create a digital revolution ()Ĭurrently today there are 4-5 billion WiFi chips made each year and it is growing at 10% p.a. See this article I wrote for the Australian shortly after the investment about Morse Micro breakthrough in WiFi chips and Elon Musk’s Starlink: the current 100m, all done with very low power on a chip that costs the end user a few dollars. Morse Micro new WiFi chip is a breakthrough in WiFi as it provides signals that can travel up to 3Km in distance vs. With over 100+ staff including some of the original CSIRO engineering team members that originally were part of the WiFi invention in 1997. Morse Micro is WiFi chip maker in Surry Hills Sydney. When SpringCapital invested in Morse Micro 2 years ago SpringCapital gave the founders a copy of Only the Paranoid Survive to read and reflect on the frequent challenges a high growth startup faces and no doubt be mindful of what it takes to survive and thrive. I thought I would highlight 3 investment companies that have taken in heart the spirit of Only the Paranoid will survive in this environment. Estimated gain / loss is based on proposed new cap raise, exit price or SpringCapital internal estimate. Refers to the time of first investment follow-on investments may not be indicated. Multiple of Invested Capital based on latest funding valuations including convertibles. SpringCapital anticipates that the ESVCLP performance will be less than this IRR of 69.6% but more than the average Australian VC firm of 28%. Past performance is not necessarily indicative of future performance. Internal Rate of Return (IRR) is based on the data in the Table. Internal Rate of Return based on the estimates in the table. Portfolio of SpringCapital investments (As of August 2022) Intel pivoted and went into Personal Computers and provided the CPU for this new growing industry and coined the term “Intel Inside” and never looked back. Gordon Moore answered without hesitation, “He would get us out of memory chips.” Andy Groove started at him numb, then said, “Why shouldn’t you and I walk out the door, come back and do it ourselves?” “If we got kicked out and the board bought in a new CEO what do you think he would do?” ![]() Intel fought on a number of fronts but they couldn’t earn a premium for their product in the marketplace and they couldn’t match the Japanese downward pricing spiral.Īfter an aimless wandering that had gone on for almost a year, Andy Groove with the CEO Gordon Moore discussed the quandary. “Win with the 10% rule… Find Intel or AMD sockets… quote 10% below their price… if they requote, go 10% again. Japanese producers fought hard and their principal weapon was availability of high-quality product priced astonishingly low. The Japanese producers built large and modern factories that were simply impressive on scale and quality produced in DRAM chips. They had limitless supply of capital through access to funds from cross-subsidies of parent companies supported by the Japanese government. Then in the early 80’s the Japanese memory chip producers appeared on the scene. As first mover having at times 100% market share in memory chips called DRAM. Intel was the fast mover, doubling the amount of transistors packed into a memory chip every 18 months and the effective storage space in an explosive way. ![]() In 1969 when Intel started they were the industry semiconductor leader in memory chips as their core business. Nothing captures the spirit more than the story of Intel in the 1996 Only the Paranoid Survive by Chairman and founder Andy Groove. SpringCapital Investor Update – Spring 2022Īs we move into Spring in Sydney thought it would be good to talk to the tales of the current risk-off environment that has been 2022 to date.
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