The core thesis of Mariana is that western minerals companies have lost the ability to deploy capital effectively, and the answer is a vertically integrated, software-first mining and refining company
Caldwell explains Mariana's founding thesis: metals are the biggest bottleneck in the intermediate supply chain, and no one has applied modern technology holistically to the minerals industry, drawing a parallel to what Tesla and SpaceX did for their sectors. ✦ AI generated
Turner Caldwell · a16z Podcast · 2026-08-05 · original ↗
starts at this moment · 1:36
I started working on manufacturing equipment with our battery cell providers. And when you start working on kind of like the intermediate supply chain, you start to realize that the metals are the things that are actually driving past and are probably the biggest bottleneck. ... if you look at the big industrial sectors, you have automotive and Tesla took that on. You have the space industry and SpaceX took that on and there's this minerals industry that no one has yet really taken today's modern technologies and applied it holistically to the industry. The core thesis of the company is that western minerals companies have lost the ability to effectively deploy capital in order to mine and refine the critical minerals and minerals that we need to power the modern economy. The only way to actually address that is you have to be a vertically integrated software first minerals mining and refining company.
verbatim transcript · starts at 1:36
1:34And you know, we've seen [music] an increasingly developed coast world, hard power does matter a lot. And so, if you can't get what you need [music] to build things, you can't build them in a very obvious sense. My name is Turner Caldwell. I'm the CEO of Mariana Minerals. [music] From San Francisco originally, went to Stanford. Mechanical engineering background and then spent about a decade at Tesla. I
1:56[music] started working on manufacturing equipment with our battery cell providers. And when you start working on kind of like the intermediate supply chain, you start to realize that the metals are the things [music] that are actually driving past and are probably the biggest bottleneck. And so I got super excited about that. And if you look at the big industrial sectors, [music] you have automotive and Tesla took that on. have the space industry
2:13and SpaceX took that on and there's this [music] like minerals industry that no one has yet really taken today's modern technologies and applied it holistically to the industry and so we see a bunch of opportunity to go and attack it. The core thesis of the company is that western minerals companies have lost the ability to effectively deploy [music] capital in order to mine and refine the critical minerals and minerals that we
2:39need to power the modern economy. And so fundamentally we think that that is [music] a problem both for national security reasons as well more globally and we think the only way to actually address that is you have to be a vertically integrated software first minerals mining and [music] refining company. The [music] real magic of Mariana's product is that it's software that drives fundamental behavior [music] change. It's not software for software's
3:04sake, but it's software that solves every single one of those [music] tiny paper cuts a thousand times a day across a thousand different people. [music] The purpose of Mariana OS is not to replace people. It is to give them leverage and to give them an expanded [music] impact. Um, basically how do we make a really small talented team do much much more with a lot less. And software and
- ·Metals are biggest bottleneck in intermediate supply chain
- ·Minerals industry lacks holistic modern technology application
- ·Tesla and SpaceX redefined their sectors; minerals has no equivalent
- ·Western minerals companies lost capital-deployment ability
- ·Must be vertically integrated
- ·Software-first mining and refining company required