Greetings to (almost) 4k Impact Supporters! 🌍 This is Jonas Ahm-Lundgren writing 👋 Today’s episode takes us deep into the frontier of science, engineering, and impact. I had the pleasure of speaking with Peter Barrett, founding partner at Playground Global, a deep tech fund where sci-fi visions intersect with real-world product market fit.

From giving Elon Musk his first job to backing quantum computing pioneers, Peter has lived at the cutting edge of technology for decades. In this episode, we dive into the philosophical and practical questions around techno-optimism, agency over nature, and the role of computation in solving climate and health challenges.

Agenda

* Peter’s journey: from Sydney coder to Silicon Valley deep tech VC 🌏

* Lessons from Rocket Science, WebTV, and early encounters with Elon Musk 🚀

* Why Playground backs the “impossible” bets (and gets 20%+ unicorns) 🦄

* The big debates: techno-optimism vs. respecting nature 🌱

* Photosynthesis re-imagined: doubling global food production 🌾

* AI hype vs. quantum reality 🤖⚛️

* Quantum computing and the future of chemistry, drugs, and climate solutions 🔬

* Deep tech frontiers in health and biosolutions 💡

Meet Peter Barrett 👨‍🔬

Peter grew up in Sydney, where he fell in love with computers and the magic of making machines “do something.” At 19, he moved to Silicon Valley, where he wrote software, built startups, and co-founded Rocket Science, a game studio mixing engineers with storytellers.

Among his early hires was a young South African engineer: Elon Musk. “At the time very humble, very curious, and clearly entrepreneurial,” Peter recalls

Rocket Science eventually led to WebTV, acquired by Microsoft, where Peter worked as a distinguished engineer. These experiences inspired his vision for Playground Global: a venture firm for founders tackling the “almost impossible” but deeply consequential challenges.

Playground’s Thesis 🎯

Playground backs bets that may almost certainly fail, but if they work, they reshape the world. With over 40 scientists and engineers on staff, including PhDs in bioengineering, material science, and nuclear physics, the firm rigorously underwrites deep technical risk before scaling.

🌟 Areas of focus:

* Quantum computing (invested early in PsiQuantum)

* Advanced computation & new semiconductor architectures

* Biology tools & synthetic biology

* Climate solutions with real commercial viability

“Our view is simple,” Peter explains. “Software may be eating the world, but you can’t eat software. We’re physical beings, we need to figure out how to feed ourselves and build a civilization that doesn’t destroy the planet we live on”

Techno-Optimism vs. Nature 🌍

A recurring theme in our discussion: where do we draw the line between respecting nature and re-engineering it?

* On nuclear power: “Much kinder to the Earth than alternatives.”

* On renewables: Breakthroughs in energy storage can boost offshore wind returns by up to 50%.

* On photosynthesis: By modifying how plants absorb light, we could double crop yields, make trees grow 2x faster, and unlock new biofuel pathways

Peter acknowledges some see this as “playing God.” His answer: starvation and cancer are worse. Humanity has always engineered nature, from domesticating wheat to creating fertilizer, and must continue responsibly.

AI: Hype and Reality 🤖

Peter’s firm backed Nirvana Systems (later MosaicML) which was sold to Databricks in 2023 at a unicorn valuation, giving him a front-row seat to the evolution of LLMs. His take:

* LLMs are both the most overhyped and underhyped technology today.

* They are useful but not magical, and far from AGI.

* We’re in the “DOS age” of LLMs, crude interfaces, limited novelty.

* The bigger challenge: their energy appetite. AI must become far more efficient to be sustainable

Quantum Computing: Nearer Than You Think ⚛️

Playground’s early bet on PsiQuantum put them at the heart of one of the most consequential races in technology. Peter believes million-qubit machines will arrive by 2027–28, with sites already under construction in Australia and the US

Why it matters:

* Cryptography: Today’s internet security will be obsolete.

* Chemistry & materials: From superconductors to new catalysts, quantum moves us from discovery to design.

* Drug development: Instead of stumbling in the dark, we’ll design cures with precision.

“This is not hype,” Peter stresses. “We’ve only scratched the surface, but once these machines are built, new industries will follow.”

Deep Tech Frontiers in Health 🧬

Peter highlights one company transforming MRI scans with quantum sensing: making them 100,000x more sensitive. This could revolutionize cancer detection and treatment.

Another firm is pioneering programmable biologics for melanoma, with dramatic early clinical results. For Peter, this is only the beginning of a new wave of therapies that combine computation, biology, and engineering

Closing Thoughts 🌟

Peter’s optimism is infectious:

“We are right at the beginning of technology, not the end. The degrees of freedom ahead of us are enormous. Our job is to steer them towards reducing suffering and creating abundance.”

As impact supporters, the challenge is clear: brace for impact, and help steer deep tech innovation toward a just, sustainable, and thriving planet.

Thanks for reading,Jonas

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit impactvc.substack.com

🚀From Sci-Fi to Climate Tech: A Conversation with Peter Barrett

Impact Supporters

🚀From Sci-Fi to Climate Tech: A Conversation with Peter Barrett