"Give us your tired, your poor, your huddled masses yearning to own a piece of wave-generating tech for $1,047.80."
So yesterday, David Lee Scales and I were chatting (listen here), as we do twice a week, and I began marveling, aloud, about how none of the wave-making technologies have come to dominate the market yet. We have Kelly Slater’s plow, Tom Lochtefeld’s air cannons, Wavegarden’s hydrofoils and levers, plus others that I can’t remember. At this point, I was thinking, one of them should have separated from the pack and become the de facto standard for the majority of new builds.
A bold man could take advantage of the current neck-and-neck situation and throw some money behind the Rusty Plunger. Surf Lakes‘ proprietary wave-making technology, a large rusty plunger that makes waves by going up then down, is the only wave-making technology open for investment to plebes.
“Surf Lakes is happy to announce that our first Reg CF round is open!” the team announced back in May. “What does this mean? Anyone in the USA (over 18) can invest, with a minimum of just $1,047.80. For the first time, we are opening our doors to the general public, giving everyday investors a chance to be part of the next generation of wave-making technology. For Australians, we have a similar offering coming for you soon.”
$1,047.80? Even a poor bold man could maybe scratch that together but he better hurry for the funding round closes in five-ish days.
According to Surf Lakes, the surf tourism market is an “untapped $65 bn opportunity.” Eight rusty plunger licenses have already been sold, including Las Vegas, Dallas and Oahu. Investors will see a return on that $1,047.80 because Surf Lakes is “enabling developers to build profitable parks with unmatched wave capacity, a business model that combines upfront licensing fees with recurring income from operations and partnerships.”
360,000 social media followers are also dangled as an asset.
So?
Are you in?