Phasecraft just raised $34 million to solve quantum computing - again. Their pitch: "we're hardware-agnostic" which translates to "we don't know which quantum approach will work either, so we'll hedge our bets and hope VCs don't notice we're basically writing TODO comments for computers that don't exist yet."
This is actually smart when you realize the quantum space is more fragmented than JavaScript frameworks in 2015. IBM's doing superconducting qubits, IonQ's trapped in ion hell, Google's got their own weird shit, and Microsoft is still trying to make topological qubits work (spoiler: they won't). Writing for one platform is like betting your startup on Internet Explorer 6 - technically possible but probably fucking stupid.
The problem is quantum computing has been "5 years away from commercial viability" since I was debugging COBOL. Every quantum startup targets drug discovery, financial modeling, and energy optimization because that's where you can bullshit about exponential speedups without anyone being able to verify your claims until 2030.
Molecular Simulation: Where the Physics Actually Works (In Theory)
They're betting on molecular simulation because it's the one place quantum computers might not be complete horseshit. Molecules are quantum, so quantum computers should be good at simulating them. It's like using a JavaScript engine to run JavaScript - makes sense until you actually try it.
CEO Ashley Montanaro claims they can deliver quantum advantage "now" while Novo Holdings talks about reducing R&D from "decades to years." The physics checks out - molecular interactions are Schrödinger equations that scale exponentially on classical machines but linearly on quantum ones. Cool story, now show me the working demo.
Reality check: current quantum systems can simulate hydrogen and water molecules. You know what drug companies need? Simulating proteins with thousands of atoms. IBM's quantum computers have dozens of qubits. Pharmaceutical simulations need thousands of stable qubits running for hours. Current quantum systems lose coherence faster than my attention during a standup meeting - we're talking microseconds here.
The Hardware Agnostic Bet
Phasecraft's hardware-agnostic strategy acknowledges that nobody knows which quantum computing architecture will win. IBM uses superconducting qubits, IonQ uses trapped ions, Xanadu builds photonic quantum computers, and Microsoft is still working on topological qubits that may never work at scale.
This creates a classic platform problem: build for one architecture and you're betting that technology scales first. Build for all platforms and your algorithms might be too generic to provide quantum advantage over classical computers.
Phasecraft's hybrid quantum-classical approach uses quantum computers for specific calculations within broader classical optimization algorithms. This works around current hardware limitations - quantum computers handle the parts they're good at, classical computers do everything else.
The Commercial Reality Check
Phasecraft has $50 million to prove they can do molecular simulation better than classical computers. But here's what I want to know: are we talking about real applications or just academic papers that'll gather dust in ArXiv? Every quantum startup claims they're "approaching quantum advantage" but when you dig into the details, it's always on toy problems that don't matter.
The quantum startup graveyard is filling up fast. Cambridge Quantum Computing got acquihired by Quantinuum (which sounds like a made-up element), others pivot to classical AI when reality hits, and some just quietly shut down when the money runs out. The timeline is always "next year" and has been for the past 20 years.
Look, Phasecraft's team has legit UCL credentials and focusing on algorithms instead of building quantum hardware is actually smart. But I've heard "quantum breakthrough in the next few years" so many times I could use it as my standup comedy routine. Show me production code that solves real problems, not more press releases about potential applications.