Supply Chains Win Wars: Rare Earth Magnets with John Maslin, CEO Vulcan Elements

Building the Base

In this episode of Building the Base, Hondo Geurts and Lauren Bedula sit down with John Maslin, Co-founder and CEO of Vulcan Elements, for an insightful conversation about the critical importance of rare earth magnets to U.S. national security. Drawing from his background as a Navy Supply Corps officer and his entrepreneurial journey, Maslin offers a candid look into the challenges and opportunities in rebuilding America's rare earth magnet manufacturing capabilities.

Five key takeaways from today's episode:

1. Rare earth magnets are essential "invisible building blocks" of our economy, found in virtually all electronic devices from smartphones to MRIs, as well as critical defense applications - yet China currently manufactures over 90% of the global supply while the U.S. produces less than 1%.
2. The rare earth challenge isn't primarily about access to raw materials but rather about processing and manufacturing capabilities, with China having made a strategic decades-long investment that has given them near-complete control of this critical supply chain.
3. Transitioning from government service to entrepreneurship, Maslin emphasizes the importance of mission-driven leadership when tackling strategic manufacturing challenges that are "too important to fail."
4. Scaling domestic manufacturing of critical components requires addressing three fundamental challenges: developing skilled technical workforces, streamlining permitting processes, and creating manufacturing champions who can build complete ecosystems.
5. For maintaining resilience as a founder in the challenging manufacturing space, Maslin recommends focusing on first principles, expectation management with stakeholders, and surrounding yourself with mission-driven team members who understand the strategic importance of the work.