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scott nolan

T2 · manager / operator

Partner at Founders Fund, where he invests in engineering-driven companies across sectors including biotech, energy, infrastructure, and transportation. He was previously an early employee at SpaceX.

14 calls·11 names·93% bull·last heard 2 months ago·Joe Lonsdale+1
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$GENERAL-MATTERGeneral Matterposition

Scott Nolan building US uranium enrichment to unlock nuclear scaling

The US has zero domestic commercial uranium enrichment capacity since 2013, creating a critical bottleneck for advanced reactors that need HALEU fuel; General Matter is building a centrifuge enrichment plant in Kentucky with a $900M DOE milestone-based contract to be online by 2030.

Joe Lonsdale2026-06→
2ndhigh conviction
$FOUNDERS-FUNDFounders Fundposition

Founders Fund nuclear thesis: enrichment is the missing supply chain link

After years of investing in reactor companies (Radiant, Crusoe, Panthalasa), Founders Fund identified that every advanced reactor startup faced the same unsolved problem: no domestic HALEU enrichment; this led to incubating General Matter as the keystone supply chain investment.

Joe Lonsdale2026-06→
3rdhigh conviction
$SPCXSpaceXposition

SpaceX validated Founders Fund's hard-tech thesis: cost-plus incumbents vulnerable to vertical integration

SpaceX proved a new entrant can disrupt a stagnant, cost-plus oligopoly (space launch) by vertical integration and rapid iteration; template for nuclear, defense, infrastructure.

Invest Like The Best2026-04→

most discussed · click a bar to filter

recurring themes

14 total
$CRUSOE
Crusoe
MEDscott nolan·Joe Lonsdale·2 months ago· position
Crusoe captures stranded energy for compute workloads
Crusoe uses otherwise flared/wasted natural gas to power modular data centers, representing Founders Fund's early energy thesis around stranded supply before pivoting to nuclear enrichment.
"Invested in a company called Crusoe. These were really about stranded energy sources."
15:00
$PANTHALASA
Panthalasa
LOWscott nolan·Joe Lonsdale·2 months ago· position
Panthalasa explores stranded energy for industrial applications
Early Founders Fund energy portfolio company focused on stranded energy sources, part of the thesis evolution toward nuclear fuel supply chain.
"invested in a company called Panthalasa. These were really about stranded energy sources."
15:00
$GENERAL-MATTER
General Matter
HIGHscott nolan·Joe Lonsdale·2 months ago· position
Scott Nolan building US uranium enrichment to unlock nuclear scaling
The US has zero domestic commercial uranium enrichment capacity since 2013, creating a critical bottleneck for advanced reactors that need HALEU fuel; General Matter is building a centrifuge enrichment plant in Kentucky with a $900M DOE milestone-based contract to be online by 2030.
"we're just doing the middle step of enrichment... that's the one step the US doesn't do at any scale... we received one of those awards for 900 million. So $900 million milestone…"
9:00
$SPCX
···
SpaceX
HIGHscott nolan·Joe Lonsdale·2 months ago
SpaceX cost-time tradeoff culture is template for hard tech scaling
SpaceX's early culture of optimizing cost-adjusted performance over perfection — spending extra money only on critical-path schedule pulls — is the operating model General Matter and other hard-tech companies are replicating to build complex facilities fast.
"the basic software that ran the company was all about performance. It was all about cost adjusted performance... every single day we're spending X dollars. If you're on the critic…"
3:00
$FOUNDERS-FUND
Founders Fund
HIGHscott nolan·Joe Lonsdale·2 months ago· position
Founders Fund nuclear thesis: enrichment is the missing supply chain link
After years of investing in reactor companies (Radiant, Crusoe, Panthalasa), Founders Fund identified that every advanced reactor startup faced the same unsolved problem: no domestic HALEU enrichment; this led to incubating General Matter as the keystone supply chain investment.
"the thing they all said was actually getting the license is not as hard as you think... the hard part is getting the fuel... we can't get the fuel. We have to import it from Russi…"
15:00
$RADIANT
Radiant Nuclear
MEDscott nolan·Joe Lonsdale·2 months ago· position
Radiant microreactors target stranded diesel markets in remote areas
Radiant addresses stranded demand — remote communities like Alaskan villages paying extreme diesel costs — where microreactors can compete immediately without waiting for grid-scale economics.
"invested in a company called Radiant that was looking at stranded demand... imagine an Alaskan village that goes entirely off of diesel... places where people have to pay a lot of…"
15:00
$ABNB
···
Airbnb
MEDscott nolan·Invest Like The Best·4 months ago
Founders Fund doubled down on Airbnb after seeing market share traction beyond backpackers
Initial angel check at 'air mattress' stage; follow-on after data showed demographic shift to older travelers and market share dominance in every city — 'they're winning, it's over.'
"We actually looked at we did the work. We looked at like every single market. Um sliced market share, marketing spend, and you could see like all these markets that they were in,…"
19:00
$ANDURIL
Anduril
LOWscott nolan·Invest Like The Best·4 months ago
Anduril cited as prime example of breaking defense cost-plus stagnation
Defense is a cost-plus oligopoly; Anduril's vertical integration and software-first approach mirrors SpaceX playbook to disrupt incumbent prime contractors.
"defense, which you see with the Anduril trying to break that."
12:18
$CRUSOE-ENERGY
Crusoe Energy
MEDscott nolan·Invest Like The Best·4 months ago· position
Founders Fund backed Crusoe to monetize stranded flare gas for compute
Stranded natural gas (flare gas) in oil fields represents wasted energy; Crusoe deploys modular data centers at well sites to convert it to compute, solving both emissions and energy cost.
"Last couple years at Founders Fund drifted back towards almost pure hardware by the end and then really energy where we invested in Crusoe Energy and understood the whole stranded…"
25:15
$RADIANT
Radiant Nuclear
MEDscott nolan·Invest Like The Best·4 months ago· position
Radiant's microreactors target remote diesel displacement with HALEU fuel
Microreactors (~1 MW) can beat diesel economics in remote communities (Alaskan villages, military bases) where power costs are extreme; creates beachhead for nuclear expansion.
"And then invested in company called Radiant which was the inverse stranded demand. How could you serve that demand? Maybe you could serve it with a small microreactor. Even if tha…"
25:25