How Cover Is Building The House Of The Future
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- Опубліковано 31 жов 2021
- I've been a big fan of Alexis and Cover for the past few years. It was really fun to sit down with him for this and chat about the future of housing. If you're interested in learning more, check out buildcover.com/
ABOUT JOHN COOGAN:
I am the co-founder of soylent.com and lucy.co, both of which were funded by Y Combinator (Summer 2012 and Winter 2018).
I've been an entrepreneur for nearly a decade across multiple companies. I've done a lot of work in Silicon Valley, so that's mostly what I talk about. I've raised 10 rounds of venture capital totaling over $100m in funding.
I work mostly in tech-enabled consumer packaged goods, meaning I use software to make the best products possible and then deliver them to the widest possible audience. I'm a big fan of machine learning, python programming, and motion graphics.
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You can get in touch with me via Twitter: / johncoogan
Disclaimer: This video is purely my opinion and should not be regarded as a primary source. I am not a financial advisor and this is not a recommendation to buy or sell securities. Always do your own due diligence. - Наука та технологія
I'm seeing 70k for a backyard bedroom to 250k for a two bedroom, this is absolutely insane, at this point it's just cheaper to buy some land and build a full size home
Exactly, anyone praising this as a "solution" for the housing (financial) problem is ignorant or paid for. Not only are most fabricated homes more expensive, the companies also have no reputation, the websites typically have rendered images instead of actual results. The point of a house should be that you have a place that is still valuable and perhaps of higher value after decades then when it was built. All these fabricated homes will be practically worthless after 50 years if not less so you are paying as much yet end up not having a home.
If they are not cheaper than a traditional house at this point and will cost you or the next generations more long term than why are prefab homes still seen as a cheaper home??
didnt you understood the whole point of the video? the tesla roadster wasnt your family van to take the kids to school... they are trying just as IKEA to find the most effcient way for housing. they aim to be like any other type of home contractor but with the adventage of low cost/time operations. the tesla roadster was released on a 90-120k price, rn the tesla model 3 varies from 40-70k. third world countries may getadventage of cheap housing. keep in mind the averagge cost of a HOUSE in united states is arround 400k.
@@julianorozco5201 we have been building living structures since the beginning of civilization, its LITERALLY cheaper to just buy your own materials and build your own home from youtube tutorials or better yet... buy a Trailer home and throw it on a slab foundation. Yes buying homes from builders and investors is going to cost you a pretty penny, but this glosses over the fact that you still have to purchase your own land, make sure you have utilities and get permits, your paying 1/3 or even half the cost of a full home with 1/8 of the space
Lol, NOT HERE IN CALIFORNIA!!! It's so nuts here that 1.5-2 million dollar homes are crap that will cost even more to repair and maintain, on top of mortgages, interest rates, and taxes.
@@olivegoddess1 i know im in cali as well and at this point its just cheaper to move out of state
Prefabs don't address the most important part of a house, the foundation! Once you have a complete plumbed and wired foundation, you can put anything on top.
You know that slabs aren't the only kind of foundations, right?
Houses with crawl spaces are very common, and in some areas houses with full basements are common. They don't need plumbing or wiring in the slab - and in any case, there's almost no wiring in slab foundations anyhow. The chief exception is a circuit going to the kitchen island if there is one.
Ahh.. So when there's a good foundation built then you can live on cardboard boxes on top of it, right? Genius!
@@jovanleon7 Just because you can, doesn't mean you should
There won't be proper standardization of foundations because of soil strata
In my city, just 5km apart there is so much difference, we use 2ft foundations at one place, and 8ft at another
He doesn't make pre-fabs and nobody here is pushing them, you halfwit. He makes components which builders assemble into houses.
What is the R-value of these panels? How does the exterior of the panel hold up to moisture, sunlight, etc compared to the weathering steel?
I can guarantee u the R values are poor and would only work in places with amazing weather year round like La.
DUH!
How about contacting Cover, Eh!?
Always amusing to me when I see yet another *startup* that thinks it's reinventing architecture, Tesla'ing homes, disrupting an industry... and *boom* $60MM is thrown their way - funded! With $60MM in hand, they better be able to invent something. If the panels are the focus, it would have been nice to see/hear more about the panels (other than a few flashes of 3D modeled small box structures). Any small flat-pack house can be assembled in a month... What would make this concept special, is if the panels are structurally, insulation value, and means and methods wise revolutionary. They could be. SIP's are great, and most out there are still pretty low tech. Buildings have roofs and floors as well, so a smart wall panel needs a whole system. But, with $60MM, Cover should be able to hire up, pulling engineers from Tesla, et al, and make this into the... next... Tesla... LOL.
Yea I like the house made out of recycled plastic. Its almost as strong and insulated as concrete!!!!
How these panels ar better than existing pre-cast concrete panels?
Also most people want to live in bigger spaces.
Something tells me they are like next Theranos, will just run with the money lol.
the video sounds like an advertisement for the company.
man, watch the videos from these channel. is just startup shill porn. its all about PR
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You can also check him out on UA-cam
Right back at you. Nothing but love and success!
the big concern here is cover is just another company in a pretty crowded niche segment - there are competitors to cover that have been doing similar for longer and are much further in their progression (assembled at build site), yet the more mature version companies have not been able to find any significant market share from traditional home building.
Can you share some examples please?
Who
@@seansapir1 any mobile home builder in the south or midwest.
Great breakdown! Thanks for covering such an important development.
I've toured one of their units, absolutely brilliant stuff
I can see how these can work in the L.A. area and most metropolitan areas of California. Their price points just don't make sense for the 90% rest of the United States. Many towns and counties are adopting similar regulations allowing ADUs. But until prefabs can scale to a point where they become more affordable than a traditional stick built home, they will continue to be just bubble start ups unable to scale.
Did I understand Elon Musk was taking an interest In this concise approach to housing ? Well..... Amortization can follow the appropriate variables..... including.... Investment ...(.one senses )....and THIS Video's content is.... All..... SENSE FINESSED.
I think Elon has a vision of applying this concept to dwelling on Mars.
@@homedecore4135 bad bot
Didn’t they say they’re following the Tesla model? It starts expensive and scales down. And they already mentioned the reason why prefab adoption rate is low- it’s not that environmentally friendly or feasible
It just depends on where you build your homes. Here in europe and especially in the Netherlands the building price of conventional buildings are extremely high and prefab is already cheaper by a big margin. Still this project is way to overpriced in my opinion, realising that the prices they note are probably without taxes included.
Here is what videos like this don’t tell you.. the typical million dollar house in CA only costs about $300k - $500k to build, the land costs $450k and government fees another $80k - $150k.. prefab makes housing maybe a little cheaper, or maybe it just makes the land owner richer.
I love the way you choose topics. Always something to learn!
We already have panelized houses here in Australia. I was actually planning on getting one myself. You just need a concrete slab.
Where did you find them?
This is exciting. I live in Norway (though I come from Sweden) and I can see this being popular over here. Since we're looking for any new idea that can up productivity + being somewhat nice towards the nature. This is amazing. Plus - they look very much alike the typical Nordic design. They are both beautiful and *smart* - two things I love. Gonna be fun to follow this in the future, to see how they will solve different issues. I have faith. Alexis seems like he's got a great plan, and stands by it. That's a fantastic start.
Woow.. the quality , the information and the delivery done prefectly 🤩👌
Panelists housing isn’t necessarily a new innovation - the Soviet Union built so many panel homes, most notably “Brezhnevka’s” - panel apartment complexes built during the Brezhnev area. Alexis has basically made it more new, refreshing, and geared towards the American market, especially because of how it looks more like a single family home in structure. Props to him though, genius idea
Another week, another John Coogan drop. Keep up the amazing content and consistency! 10k subs, I'll see you at 100k !!
👋 we made it
@@JohnCooganPlus wow that was a Speedrun time! Bruh
The way this guy chose to structure his answers to this "interview" and the general showcase of his company and vision really displays that he has no clue what people want to hear from a company that will build their homes, that provides safety and rigidity to their lives. Now, I think honestly the concept could be great, as long as you get some people who can market your product in a better way, laying focus on the integrity and incomparable robustness of these panels, the safety they provide, etc. In general, disrupting the flow of negative criticism that is thrown towards them.
He doesn't need to connect with people who buy "homes," i.e. houses. He sells to architects and real-estate promoters.
If he wants a future, he'll learn to sell to builders..
@@TheDavidlloydjones he already has a future with 60 million in investment 😂, people online are suddenly experts straight from their couches 🤣
This is interesting - there are a number of companies in North America making panelized homes, some to a very high standard, even passivehaus! Good to see these sorts of solutions gaining traction - so much more efficient than the traditional approach.
I have just found your channel and watched a couple of your videos and man i can already tell you will be big in no time,loving your content
You have such great content on your channel. I am an entrepreneur myself and have always missed content about tech and innovation but looking from an entrepreneur's point of view. Great stuff, congrats
These panels remind me of Gropius ang Wachsmann back in the '50. Their factory (a former war aircraft factory) named Panel House Factory got funding for the government itself. But the architect failed to deliver a panel and connection good enough for the concept to work. I think tho these can change with the current technology and most imp the software technology which Gropius and Wachsmann didnt have back than. The term is mass customization and it's gonna be possible with the help of software and ai soon.
This is a really under rated channel! Content is amazing. I’ve subscribed and am now binge watching every episode 😊👍 Keep up the great work
I'm very excited about Alexis and Cover! Cannot wait to see what they come up with in the future!
Congratulation my man to your 10k now let me sit back and watch till the end😎
Great video, clear and entertaining throughout!!
I always love your perspectives on these disruptive companies! Thanks John!
John - you're very good at storytelling. Well done. I'm really glad I found your channel.
John, I must say, coming from the tech world, your content is amazing. keep it up!
Panelizing is not at all like building with Lego. Lego blocks are uniform and scalable, house panels are almost all unique. Some walls have windows, others have cabinets, or fireplaces, or doors, etc...
I looked into this company earlier this year, and, as much as I wanted to like them, I was not impressed. Outside of sustainability, they don't actually solve any of the issues currently plaguing the housing market. First off, they're made exclusively as backyard add-on units, so the only people who are going to be interested are people who already own homes, therefore cutting off first time home-buyers. Secondly, they're not affordable (and for the sq footage you get, actually a bit overpriced), therefore NOT making home owning more accessible to lower income buyers & families. Thirdly, for devil's advocate sake, let's say down the road the company is able to make affordable stand alone single family units like they plan to, the cost of buying land to build upon and going through the structural inspection process is going to drive the cost right back up, not to mention that the permitting process instantly intensifies when you're building a stand alone house...So, no matter which way you look at it, it's gonna be costly and only accessible to a small select audience.
what you don't understand is that this is them now but not what they will be in the future. Tesla started out as a luxury car brand, this allowed them to get capital while simutaneously trying to figure out how to scale and build cheaper and high quality cars. They now have cars priced mid-tier, and looking to make EV cars at prices in the low 20K in the future. You need to be patient with technology, the foundations are being built out and then new technology will be able to build on top of it
@@topgun213 I’m wholeheartedly convinced you did not read my full comment or either have little understanding of how housing works good Sir/Ma’am. I fully understand their business plan to start high and use that to pave the way for more affordable housing down the road…this was very clearly explained in the video. And while it’s commendable, what I’m trying to explain is that it does not work that simplistically my friend.
Let’s say, in the future, Cover is able to produce a single family unit for just $175,000 (not likely, but for scenario sake). Before a single brick can be built or laid down, you must legally own (or lease) that land to build upon. Land is not cheap. Furthermore, unless the build cost is factored into the total price with Cover, then you will likely have to hire a contractor to build the physical structure (or do it yourself if you’re handy). Contractors are not cheap. During the building process you must have - several - inspections done by the city to ensure that your structure is in compliance with the permitting regulations for that State. This costs money…out of YOUR pocket. Once the structure is built, you must have an appraiser come out and appraise your structure for its value, this costs money…out of YOUR pocket. Finally, unless you use a generator or solar panels, you must get the house connected to the grid for electricity and also get a septic tank installed for “fluids and waste” (if you know what I mean). This also costs money….also, out of YOUR pocket.
By the time all expenses are accounted for, the “affordable” house you purchased…becomes not so affordable anymore. And you’ve officially paid hundreds of thousands of dollars for 600 sq ft of living space. Once again, I commend Cover for what they’re doing, truly, but in reality, they don’t really solve much for the commoner.
@@topgun213 I think that the difference is that Tesla created a luxury car with a high price, while these "houses" have the high price but not the luxury, or at least the price is too much for what it offers.
Space is the issue. As you said first home buyers can buy land because it’s too expensive, this isn’t going to change. So the answer is subdivisions. From what I see, American homes are way too big already. Smaller homes squeezed into existing areas would improve the livability of an area (population density is a good thing).
Factory made is the perfect way to improve efficiency. As the process improves, the price goes down. Don’t see this as a replacement for regular oversized houses. See this as a new type of home.
Permitting/Inspection is done during the manufacturing process for this type of house.
This is super dope. Exactly what I'm looking for... high quality, efficient, droppable anywhere.
Thank you for calling out the inefficiencies or flat out dangerous of shipping containers!
This was a fantastic explainer, thanks so much for taking the time to make it. I think I recall MITI mentioned in the book "Shoe Dog" by the Co-founder of Nike, Phil Knight. It makes a lot more sense now having watched this video.
The key thing is when an individual, family, company, or nation gets rich, people start to take things easy and that's where the decline begins.
Love the content. Keep it up!
Love your video!! The sound is clear and smooth. What microphone do you use?
In my experience as a framer and now an construction estimator, prefab single family homes seem to have very little of the prefab market and prefab companies tend to focus much more largely on multi family as it provides more efficiency in that type of building. The other aspect, is prefab homes (for what you are getting) are rather expensive.
From my experience, on prefab homes, we sell the solutions to businesses as B2B. Prefab has very limited use
Yeah, the benefits to prefab don't seem to be very much if any benefit to smaller homes, that the only real method of profit worth the effort would be to McDonalds it, while offering some limited customizations which presents its own issues for a prefab production line.
I love the idea of prefab, as long as it is built structurally well. Even making anyone with a crane or enough people to easily piece things together quickly.
Thank you, John! I just applied!
Thank you so much for creating and posting this! I like this idea better than a mobile home or a shipping container
You deserve more followers. The algo will reward you in time.
this guy is gonna be huge very soon. Amazing content
This is such a valuable video for aspiring entrepreneurs. Engineering is the key to success in modern world.
I'm not sure how this channel only has 19k subs right now. Gold standard!
Exciting video.
I don't think I understand Cover yet though. I don't think I could sum up why they are doing well, and why we haven't seen module based pre-fabs take over decades ago. Is it simply that no one else has tried properly before? I understand that Cover are doing a lot of things right, but is this really it?
* modular design - sweet spot between customizable and standardized
* niche beach head - get started in a learn fast high end market
* timing wrt new regulation
Honestly I would also have liked more. More on Cover - how young/old of a startup are they. How many houses have they built? How much revenue do they make?
More on the technology and production. Like what modules are there, what do they standardize and how. Do they have anything special production wise?
That said I enjoyed it a lot and will look more into Cover. Keep up the good work!
Honestly this company seems exactly like Boxabl, I would have liked to see a comparison between Boxabl and Cover.
Google say that first prefab house was made in 1804.
Its called marketing
Yesss! I love this company.
This is awesome info that plan on using in various function. I’ve l listened to twice while, prepping dinner. This was followed by actually watching it twice. I really dig that this video wasn’t sponsored. That’s added value to me. I’m a New Subscriber!!! 😅
Great video on an exciting startup, thanks @John Coogan
Great film, excited for more!
It would be great if they provided a stress analysis on structures vs panels. How plumbing and electrical systems would be integrated, testing on how their product would do under harsh weather/environmental conditions like hurricanes, earthquakes. Those things would win anyone, showing us why these types of homes are better than the traditional.
I wished they shared more details about the plumbing too. Regarding the other points, they are going to be working under California regulations. The regulations here are really stringent and any new building will have to be up to code. Older buildings don't necessarily have to up to date on every code since there are more regulations on new construction.
Kudos for them to be doing panelized housing.
curious why is has taken so long for the US to utilize this system that has been in place for over 30 years in Northern Europe
the house of the future is called a passive house, can run on as much power as a hair dryer
Now is the time. May builders move to a new, safer, and advanced way of building. We deserve it
Thank you for doing the research on this story, I never heard of Cover.
the title should be 'Why you shouldn't live in a shipping container'. There's about 3 minutes of actual information about How Cover Builds in this video.
Yeah, they say that is not only one project of house, because people have different need. That's right, but in a different areas, standarization is common, for example cars.
Love your videos man! Thank you 🙏
Just found your channel! Glad I did! Instant sub ma man!!
To be fair there other "Lego style" home building companies coming out right now.. One is literally Lego blocks you can make your walls with.. Stacking the blocks like you'd do with Legos..
Its all cool and nice, and knowing the price exactly how it's gonna end up with is a HUGE plus, trust me I know.. With renovations going out of budget, disputes etc..
But right now cover prices are way too expensive.. I mean come-on a small bathroom adds a whooping 30k to the price..
Sure, the whole Elon musk story telling stuff is fun and all, but not everyone wants to spend apple's prenium for everything.
A small house garden for 300k,yeah good luck with that, I could just buy an house for that price without having to worry about anything..
So yeah those houses and companies will get successful maybe one day, once they manage to be cost efficient, which you'd THINK would be the selling point of those companies.. But it's not, not by a long shot.
And you skipped all the drawbacks of such an house btw.. It's all custom panels.. Great, now you damaged one for whatever reason.. You can't just fix it easily or go to your mall and buy a plasterboard, replace it and be done for less than 100 bucks total including paint etc.. No you have to go through them.. If they didn't bankrupt that is, and order a new one and I don't know if you can change it yourself and how much it will cost you (more than a plasterboard I'm sure) or even if in a few years they just won't tell you : oh sorry we don't make those anymore, we moved to a new panel that is not compatible or whatever..
So yeah, could go on about how those panels hold out in the long run.. Cos they have only a 1 year warranty on the house.. Etc etc
So while I think house building is really a century late and needs to step into the 21st century, for now I'll stick to traditional house building.
I completly agree with you. Altough prefab could help lower class and middle class as well. Just not with projects like these. The simplest way of using prefab to adress building costs is by manufacturing the walls and structure of the building in a factory. Then transport them to the building site where you put them in place. This is rather cheap and can easily be repared.
Great video as always. This channel’s going to the moon 🚀
My Alexa speakers went off 5 times during the video. Great house design!
A Billion of trillion likes to Cover Build and Tesla. Knowing how fire or earthquakes may attack us, Cover Build is the most intelligently ready to shelter housing solution that is also able to provide us comfort for users and the one that may be built fast
Awesome video.... from topic to content and presentation. 🙂🙂🙂
Those panels are wayyyyy too thin to offer decent insulation, at least if those 3D renderings are accurate. Even if they were filled with extremely expensive aerogel they wouldn't be thick enough. I can't imagine them competing with SIPS on thermal performance, and I imagine they cost a lot more too.
I like it....I'm a retired RN, turned truck driver; Class A. I actually started out delivering oversized materials for homes built panelized. Very fast....very tough, smart.
I'm wanting to build somewhere in North Carolina in 2022 or 23...and am searching for "smart housing at the size of ~450-800 sq'. Enough for a 2-bedroom scenario with a nice kitchen, open concept the rest of the floor plan. Bedrooms, on each side or end for privacy; possible scenario for resale, renting a room for rental income. No one can live today on one paycheck.
Must have 2 bedrooms.
Looks like house-sized Ikea philosophy.
I might actually be able to afford a house like these within 10 years.
Love your videos man!!!
Thanks a lot!
There doing this in Germany . Great idea for America
Well done John.
I appreciate all the movie clips.
Great content once again
Thank you, sharing That is great data Bro, 👏🏾👏🏾👏🏾👏🏾👏🏾🔥🔥🔥💯👑♾
Super cool idea i think this could be the future for building i'm verry intresst in it, hope to see more❤👍
Before 1970 ppl used to only have 3 year mortgage. Hope cover will bring us back to that era.
That shipping container city looks amazing, perfect for a scene in a video game 😁 Very cyberpunk.
You deserve a sub, keep bringing food for my mind. Here you go, subscribed.
I liked this, and I don't like real estate.
There’s like a million companies trying to revive this. I hope this actually works out soon
Awesome, so Boxabl isn’t the only company doing this!
Underrated channel 🔥
What a great commercial for Cover.
I couldn't watch it, I wanted to but after a few minutes I tapped out. Look, just show the house and play the audio. We don't need to see that beautiful road over and over and over and we don't need to see you, JUST THE HOUSE , that's what the video is about right ? THE HOUSE and the assembly, ordering, production etc. Thank You,❤ the house from what I saw and let's not forget, that pretty road.
Nice content. Thank you for sharing.
I hope they get this to fall together, the concept has been floating around for a number of years but it just needs that break through. I had great hopes for the hivehaus modular home system but it seems to have disapppeared
This was actually informative and entertaining. I can't afford a home but this was nice to know. Didn't feel pretentious and felt like quality work. You got a new subscriber
Cool video, but there are plenty of great housing solutions along these lines that haven't been widely adopted. I fail to see how they are going to "revolutionize housing" anytime soon. We'll see how much infilling actually happens in California. Would be great if it happens, but we'll see how it plays out.
I don't see what this company has to offer against other prefab methodes. The price tag of the other methodes are normally cheaper except that container lady who used the dollar bills as toilet paper or something. The maker of this video also failed to see that normal prefab buildings use panels as delivery, which you can deliver almost anywere where a car with trailer is able to drive, instead of whole container sized buildings or even larger.
This project is probably just like any other project who wants to revolutionise something while not even solving the problems face, but just stating downsides of other methodes which are mostly already handled with and act like they ain't got any. All to price their "solutions" way higher than other methodes.
Thank you for this video
interesting idea and I like the point get started first regardless how small the step is
quality content. subscribed
This is 1 of three companies i follow in this field ~ IMOD / Boxabl / Cover ~ i would watch and suggest investment in these 3 companies (Followed closely behind by 3D printed homes)
Cover and Boxabl are going to be the best companies when this takes off!!!
Interesting. Thanks for sharing
This is not new. I think you should check out Europe, especially Germany. We bought our house this way over a decade ago.we got to customise and they came and put it all together. The whole process took 2 weeks from when they showed up with the panels and everything else required. And it was much cheaper than getting a builder to do a traditional build.
hey john! brain computer interface industry has a promising future , would be great to hear your story telling on that !
I think the issue here is, unlike Tesla, they don't have to invent the fundamentals of this approach. They have to find a way to panelize the existing construction methods - meaning wall panels should be structurally sound and well insulated for at least 3 story support with no airflux leakage between panels. Ideally, floors would have built-in floor heating to function as overall room heating, with insulation. And same with roof panels. Everything should be standard size so any panel can be swapped with whatever the owner desires.
If done well, this method should in theory allow for cheaper end costs compared to a traditional build method, even from a startup level. But to me, the pricing seems way off. For what you seemingly get, there really isn't an upside apart from the easy personalization and the transparent costs - but transparent costs don't matter at all when the cost clearly isn't competitive to begin with.
So what I'm struggling to see is, why are they trying to make the "Tesla Roadster", when they have all the means available of making the "Tesla Model 3" from the get go? What is holding them back? Why aren't they developing cost-beneficial panels? Is it simply a manufacturing issue they have run into? Is it their choice of materials? Or are they simply trying to upmarket themselves from the beginning to reach much higher profit margins because it's a novel project in their region and there are enough wealthy customers for now to satisfy their desires?
Imo this is going too slow, and focus isn't in the right place. They need to figure out what their driving factor is, and ideally it should be cost/space ratio and adaptability. That's the main benefit of a pre-built panel based house. That you can get it exactly to your specifications (within the panel standardized measurements), and that you can get it for cheaper than what a hired construction firm could build a traditional house for.
If this isn't their primary goal, and they dabble for too long in the "niche exclusive trendy" section of Californian upmarket housing, then they risk plateauing and never reaching the true potential of their vision.
The cost doesn't address the housing crisis of affordable housing now which is needed for both young and old. Thank God for other builders that are doing this at more affordable costs. Everyone everywhere needs to get the zoning laws changed for smaller housing dimensions. No one should prevent people from building smaller homes.
Light steel framing is this 👌🏽
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self inflicted housing shortage. The problem isnt with the building proscess.
I think the example you used comparing that shipping container house , the dollar value was in in NZD.
interesting video. I just wonder if it really has efficient heating and insulation.