It's hard to overstate how important Running Tide has been, and will continue to be, in the CDR and NbS conversations. It is so easy to shit on hard/uncertain things from outside the ring - those voices are usually best carefully considered and then 95% ignored.
RT shutting down will scare fair-weather funders and folks new to the venture game. Meh. Others will know that this is entirely predictable. It's how high-growth, VC-backed companies work. Anybody working on multigenerational problems need not freak out that RT is closing.
It's no secret that CDR is unfathomably hard - open-systems/nature-based stuff prob doubly so. We're trying to solve a problem nobody in the world has ever made a dent in despite decades of evidence. Anybody not baking that into their models already is asleep at the wheel.
I admire you, Marty Odlin!
I tell my 8 y o all the time that courage isn't the opposite of fear. Rather, it's when we're scared that we even have the *potential* to be brave. You embody that every day. You hold that paradox, and you've inspired so many. 💓
Any founder/CEO working in this space must be capable of the same.
Avoid the urge to net out hope and fear.
Feel them both, deeply, every day.
Face the abyss and do so while holding the hand of somebody you trust.
Be hard in the right ways and soft in the right ways.
Marty, I'm SO grateful to have learned so much from you and your team. You have a big heart and a big brain. SO excited to see what you do next. SO thrilled for the legion RT alums having impact elsewhere (including at Yard Stick!).
This ain't failure, y'all!!!!!!!!!!!!!
Running Tide was built for our kids.
We started Running Tide to restore balance to our planet by partnering with nature to heal the ocean and fix our climate for future generations. That is the victory condition. In the past seven years, the urgency of our mission has only increased.
Unfortunately, today we are beginning the process of shutting down Running Tide’s operations because we are unable to secure the right kind of financing to continue our work with the urgency it requires.
While this is incredibly disappointing, I can’t help but be proud of the work we have done as a team.
We did the thing. We grew oysters, we removed carbon, and we increased the world's understanding of the ocean.
Starting a company of any kind is a hopeful act. Starting a company with the explicit goal of restoring nature and healing the ocean requires hope for the future and humility in the face of the complexity and the scale of the problem.
I still have hope. The victory condition remains the same. So grab a shovel, we still have work to do.
Running Tide was built for our kids
Running Tide on LinkedIn