In the latest podcast from Inside Quantum Technology, Shai Machnes, the CEO of Qruise, a market-leading quantum optimization company, talks about the current status of the quantum industry. As the leader of one of the many startups in this ecosystem, Machnes is no stranger to dealing with multiple targets simultaneously. “I focus on long-term strategy and doing the dishes and everything in between,” Machnes joked. “Because we have no formal offices at Qruise, we’re in a unique situation where we have to check in with each other every day. I enjoy it as I get to make deeper connections with others. But this means the days do start rather early for me.”
At the helm of Qruise, Machnes sees the importance of other businesses just like his within the quantum space. “Big companies that are doing well often avoid taking risks,” he explained. “The risk development is usually outsourced, or they wait for some of the startups to try something. And then, they’ll acquire the successful ones via natural selection later on.” Machnes highlights the importance of developing revolutionary technology, something that quantum computing is often seen as, and how this is not as easy to do at a larger corporation. “Unless the company has a visionary at the top,” he mentioned, “like Steve Jobs or Elon Musk.” The true innovation, he believes, is from the numerous startups in any technology industry. “Many startups have close ties with universities,” he added. “This can be beneficial, as they have cutting-edge research that they are trying to mature. Sometimes, however, it can mature too soon. So timing is key, as most venture capitalists have a certain time horizon.”
You can listen to the full episode featuring Machnes at this link.
Kenna Hughes-Castleberry is a staff writer at Inside Quantum Technology and the Science Communicator at JILA (a partnership between the University of Colorado Boulder and NIST). Her writing beats include deep tech, the metaverse, and quantum technology.