Tim Rossiter on Building AI Infrastructure from the Cayman Islands.

A: My goal has always been to build businesses from ideas I find interesting, regardless of industry, hence my core business is called Interesting Things Advisory. Whilst infrastructure of any sort may not sound that interesting, it is often underappreciated and can provide outsized opportunities and great businesses in most industries.

For example, I helped build a fund administration business, which is the infrastructure to alternative investment funds; whilst investment managers can make extraordinary returns, they are often highly volatile, sometimes losing huge amounts, whilst we made consistent returns. The investment managers and businesses that appreciate and invest in their infrastructure are usually the most successful.

The more I’ve learned about AI, the more I am convinced AI will be as integral to our lives as the internet is today, so I’ve tried to learn as much as possible about what it needs to run. Shortly after ChatGPT launched for the public I met the founders of an AI infrastructure business and acquired some AI servers. Buying the hardware, investing in their business and experiencing the highs and lows of GPU-as-a-Service income was probably that pivotal moment.

AI infrastructure is about far more than GPUs and NVIDIA. I’ve delved into the software that facilitates access to GPUs, the hardware that surrounds the GPU, networking, datacentres, power sources, power grids and how they all interact with the community. It is a fascinating space with countless opportunities.

A: Lodestone AI’s goal is simply to build AIs to help businesses, wherever they happen to be. Given I believe AI will be integral to the efficiency of any business, it was an ideal company for Interesting Things to incubate so it could support all future Interesting Things.

The first AI we commercialised focuses on blockchain validation, the infrastructure of proof of work blockchains, more commonly referred to as crypto mining. We focus on blockchains that utilise the scrypt hashing algorithm, as that allows merge mining and is the most common choice for new cryptocurrencies.

It is an industry that has not been well serviced to date, is moving into mainstream markets with the advent of ETFs and complements expansion into datacentres, power generation and eventually combining with agriculture. Our goal is to build a multifaceted business that is a net contributor to the communities we work in.

A: There is no better place to build a business. The Cayman Islands are an oasis of expertise, capital and stability in an increasingly fractured world.

The reach of the Cayman Islands financial services industry is so extensive that the global relationships, businesses, cultures and expertise that reside here are incredibly diverse. This community has been augmented by an increasing number of family offices and entrepreneurs seeking that oasis and discovering the breadth and depth of expertise that resides here.

Together it is the ideal catalyst for ideas to be turned into businesses. I could not have built Interesting Things or Lodestone AI anywhere else in the world.

A: To build anything for the long term, it must be sustainable. The communities you operate in, the environment you draw on and impact and the business operations all must positively contribute or it will not survive.

For example, the crypto mining business is driven by hydro and geothermal power in Nordic countries that are relatively cold and have long, dark winters. This means a longer, more efficient life for our miners and lower power prices for the local community as the datacentres we operate from use excess grid capacity. We can also use the heat we generate from our miners to facilitate agriculture, building an additional revenue source that creates food and jobs. We are not there yet, but we are excited about the future.

A: The Cayman Islands has the ideal mix of a small-town community with a global perspective. The oasis of expertise, capital and stability I refer to earlier has attracted a nascent tech community of entrepreneurs. Combined with a supportive Government and Regulators, I can only see it continuing to expand.

If we maintain a balance between respecting and embracing Cayman’s culture whilst encouraging the brightest minds from around the world to move here and build their businesses, similar to the way the best alternative investment managers domicile their funds here, it could become the location of choice for tech entrepreneurs.

For tech specifically, the greatest opportunity is plugging directly into the existing tech and educational hubs like San Francisco, Boston and Austin. If we had direct flights daily, to complement the New York, London, Chicago, Dallas and Miami flights, we would make it far easier for tech founders to choose the Cayman Islands.

A: The TechCayman team have been fantastic partners. They brought practical local knowledge and support even a long-term resident like me needs, and hosting events like their Innovation Insight evenings has allowed me to meet and learn from inspirational founders.

I’ve really enjoyed the small, focused events that give you the time and environment to build genuine connections. The broad range of innovators you’ve brought to the Islands is quite amazing. There have been more than one I did not understand or appreciate at first, yet meeting them changed my perspective and we still keep in contact today.

The community they are building, their patience and long-term view, are an ideal complement to facilitate the next pillar of the Cayman Islands economy.

A: You get out what you put in. If you want the community you live in to be the best possible environment for your family and friends, get involved.

We moved here in October 2002. For our first Christmas without our Australian family, a multi-generational Caymanian family invited us to their family Christmas because they believed we should be with family at Christmas. We fell in love with Cayman, chose to raise our children here and I have done my best to contribute to our community ever since.

Every person who moves here has left their personal infrastructure behind and needs to rebuild. The people here understand and embrace that, as long as you respect the culture you are joining and I believe a big part of that is supporting that community by getting involved.

A: I believe we are only just getting started. The building blocks are in place, and if the incredible people I have met through TechCayman at this relatively early stage are any indication, the future is bright.

There are few places in the world that have a stable government that actively engages with local industry to encourage innovation and entrepreneurship. Our environment is primed for truly exceptional people to make Cayman their home.

A: Stop thinking and start doing.

The expertise and capital you need to build your business already resides here, the community is second to none and it is only missing you.