Daniel Liss, the driving force behind social networking site Dispo and dating app Teaser AI, is already planning his next venture, a leap into the steel-making industry.

As unconventional as it may sound, Liss' interest in this traditional industry was piqued by his own writings on anti-trust policies in social media for TechCrunch. The articles snagged the attention of influential figures in Washington D.C., inviting him to participate in a 2023 war-game event hosted by the National War College.

During the event, a simulation was carried out where the U.S. and China battled for dominance over Taiwan and the South China Sea. This experience led to a revelation for Liss about the national lack of ship-building capacity, which was further hampered by insufficient steel supply. Intrigued and motivated by the potential of the steel industry, this marked the genesis of his latest startup, Nemo Industries.

Nemo Industries, targeting two prominent American concerns - steel production and AI, promises to modernize the steel industry by using AI to streamline pig iron production. Admitting that current plants rely on outdated methods such as spreadsheets or clipboards, Liss aims to replace these with more scalable, advanced technologies.

But Liss has a vision for Nemo beyond just being an industrial software company. He's planning for Nemo to have its own furnaces, fueled by his belief that AI-focused companies enjoy a substantial advantage over traditional businesses.

Of course, stepping into the steel industry is no cheap affair, but Nemo's focus on pig iron production - a crucial element in creating a variety of alloys, could potentially keep costs lower than building a full-fledged steel plant. Furthermore, using natural gas instead of coal, not only reduces CO2 emissions but also offers potential profit from tax incentives resulting from carbon capture.

In this endeavour, Liss has teamed up with Michael DuBose, former Cheniere Energy staff and current investor, who brings billions of dollars' worth of natural gas infrastructure experience to the table.

Although Nemo has already raised approximately $28.2 million and is in talks to raise a further $100 million, it's still a tremendous challenge to establish themselves in the steel industry. Yet, Liss believes that to garner the returns venture capitalists are after, bold moves such as this are necessary, as history has shown that bettings on fundamental industries like steel have delivered big wins.

Quoting the investment choices of industrial moguls like Rockefellers, Carnegies, and Melons, Liss concluded, "The dollar amounts are so big in these categories."