From the New Yorker:
,,,In 1999, when Nathan Myhrvold left Microsoft and struck out on his own, he set himself an unusual goal. He wanted to see whether the kind of insight that leads to invention could be engineered. He formed a company called Intellectual Ventures. He raised hundreds of millions of dollars. He hired the smartest people he knew. It was not a venture-capital firm. Venture capitalists fund insights—that is, they let the magical process that generates new ideas take its course, and then they jump in. Myhrvold wanted to make insights—to come up with ideas, patent them, and then license them to interested companies....
...One of the sessions that [Bill] Gates participated in was on the possibility of resuscitating nuclear energy. “Teller had this idea way back when that you could make a very safe, passive nuclear reactor,” Myhrvold explained. “No moving parts. Proliferation-resistant. Dead simple. Every serious nuclear accident involves operator error, so you want to eliminate the operator altogether. Lowell and Rod and others wrote a paper on it once. So we did several sessions on it.”
The plant, as they conceived it, would produce something like one to three gigawatts of power, which is enough to serve a medium-sized city. The reactor core would be no more than several metres wide and about ten metres long. It would be enclosed in a sealed, armored box. The box would work for thirty years, without need for refuelling. Wood’s idea was that the box would run on thorium, which is a very common, mildly radioactive metal. (The world has roughly a hundred-thousand-year supply, he figures.) Myhrvold’s idea was that it should run on spent fuel from existing power plants. “Waste has negative cost,” Myhrvold said. “This is how we make this idea politically and regulatorily attractive. Lowell and I had a monthlong no-holds-barred nuclear-physics battle. He didn’t believe waste would work. It turns out it does.” Myhrvold grinned. “He concedes it now.”
It was a long-shot idea, easily fifteen years from reality, if it became a reality at all. It was just a tantalizing idea at this point, but who wasn’t interested in seeing where it would lead? “We have thirty guys working on it,” he went on. “I have more people doing cutting-edge nuclear work than General Electric. We’re looking for someone to partner with us, because this is a huge undertaking. We took out an ad in Nuclear News, which is the big trade journal. It looks like something from The Onion: ‘Intellectual Ventures interested in nuclear-core designer and fission specialist.’ And, no, the F.B.I. hasn’t come knocking.” He lowered his voice to a stage whisper. “Lowell is known to them.”>>>Read it all.