The criticisms raised in the video are fair, and also the first youtube comment has an interesting point:
> Why would he allow this reckless behavior? Why would he himself be standing right there with them next to the device while it was in operation? Then I watched the video more closely again - he never takes the grid potential higher than 6kV. There was no fusion and no x-rays that could penetrate the wall of the vessel or the glass window. It was a ruse. You need to have a potential difference on the grids of AT LEAST 30kV to even begin seeing any fusion reactions at all. He knows enough physics to be aware of all of this. He was therefore deliberately allowing them, and the credulous audience, to believe they were actually doing fusion reactions when nothing of the sort was happening at all - they were merely staring at a pretty glowing pink cool deuterium plasma in a bottle. I believe this to be very suspicious behavior from a CEO of a commercial nuclear fusion company.
Science would develop the concept underlying helion, for instance, but then a startup should bring it to market.
I feel like the cynicism is coming from the bullshit we can all see before our eyes. We just don't know how to change it because we're all so entrenched in capitalism and corporations.
The equivalent would be if spacex said something that violated the rocket equation. They didn’t. And also while they promise the Mars, they can settle for the largest reusable rocket as a consolation prize. In fields like biotech and fusion there’s often no consolation prize. So spacex was well managed with the right level of optimism and practicality. Not so here.
Will every startup be successful? Of course not! But as a whole, technology continues to March forward and improve.
If you want to constrain your question to Silicon Valley specifically
Yes, SV funds incredibly stupid biotechs. It also passes over really good biotechs. I think it's because honest founders are likely to do good work, and won't pitch with a $$ ask that doesn't make sense, and SV equity raises don't make sense for such capital intensive activities.
However when it comes to startups dealing with biology or physics you’re literally battling the laws of nature. You can’t just hustle out of it. I’ve been laughing at the type of biotech companies that get funded by SV (nano diamonds for cancer detection? Gut Micro biome sequencing?) and it’s looking like similar story with fusion.
In this case if you want real reasons why Helion looks suspect check out this good summary of all the issues with their approach and promise: https://youtu.be/3vUPhsFoniw
I won’t get my life against someone figuring out fusion in the next two decades but I wouldn’t bet money towards it either.