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High-power magnets undergird an enormous amount of modern society. From high-end audio speakers to electric vehicles, wind turbines, and fighter jets, they are a vital component in much of the technology we touch every day. To make them requires mining and refining rare earth elementsa supply chain largely controlled by China. Companies around the world are racing to find alternatives by using materials that are more abundant and cheaper to produce domestically. Minneapolis-based Niron Magnetics believes it has found a solution, claiming it can approach key aspects of rare earth magnet performance, using humble iron and nitrogenalbeit in an exotic formulation. General Motors, Stellantis, the U.S. government, and others are betting on it. “The Chinese put export controls in place around rare earths, and thats been a great benefit to us,” says Niron CEO Jonathan Rowntree. China currently accounts for around 60% of global rare earth mining, according to the International Energy Agency, and about 90% of refining (including ore mined in and shipped from the U.S.). It also supplies over 90% of rare earth magnets, according to the U.S. Department of Energy. Geopolitical tensions are putting that supply in jeopardy. “We want to be able to solve this problem for Western companies as quickly as possible,” Rowntree says. When asked if Niron will only serve the West, he says, “All these countries outside of China have the same problem.” Beyond the U.S., Niron plans to build one factory somewhere in Europe and another in Asia. “It wont be in China. Itll be in Southeast Asia, most likely, he says. Moving beyond neodymium Companiesand governmentsare especially chasing alternatives to one of these rare earth metals: neodymium. It is alloyed with two other metals to make the world’s most popular magnet. “Neodymium iron boron is the best permanent magnet going. And no one’s really got anywhere close,” says Nicola Morley, professor of materials physics at the University of Sheffield in England. She has no affiliation with Niron. Niron has raised approximately $200 million from private funders and about $100 million from federal and state tax credits or grants, including from the departments of Energy and Defense, to build its exotic formulation over the past 15 years. [Photo: Niron] The world could finally find out how well Niron’s technology works in 2026, when it says that magnets from its pilot facility in Minneapolis will start to appear in home audio speakers. Motors in appliances such as washing machines, clothes dryers, and air conditioners are on schedule to follow in 2026 or 2027. Niron broke ground on its first full-scale factory in Sartell, Minnesota, in September, and expects to be churning out 1,500 tons of magnets per year by early to mid-2027. It’s considering several states for its next 10,000-ton-per-year world-scale plant, which it estimates could provide more than 20% of U.S. supply after it opens in 2029. Then will come the plants in Europe and Asia. Niron has no plans to license its technology. “We want to be a full-service magnet producer,” Rowntree says. Dates for when additional plants will open are not certain, or for when magnets may appear in industrial machinery, cars, planes, and windmills. Rowntree says that, compared with the short product cycle for consumer tech, “industrial [is] medium, automotive takes a bit longer, and then defense and wind turbines take the longest.” Niron says only that it is “engaged” with defense contractors. Building a rival magnet Things get technical rather quickly when discussing Niron. But details matter in order to determine if it can achieve its ambitious business goals, including going public, which Rowntree says is “a few years away.” Niron has several patents for iron nitride technology, including one for how to manufacture a particular arrangement of the chemical compoundboth within the molecules and in how they form crystalsby getting and keeping it in what’s called an “alpha double prime phase.” Rowntree puts that in somewhat simpler terms, saying the atoms are “arranged in such a structure that the nitrogen atoms kind of flex the structure” to cause greater magnetism. This is similar to neodymium magnets, in which, as Morley puts it, “boron basically stretches” the structure of the crystals. Getting these tiny crystals into large magnets was another challenge. All high-performance magnet making starts with material in powder form. Next, a magnetic field is applied to align these grains, so their magnetic poles all face the same way. Then the grains are compressed. Finally, in rare earth magnets, high heat is applied to stick the grains together. But heat would wreck Niron’s material, so the company’s scientists developed a work-around for compacting the magnets. “There was, I would say, secret sauce in manufacturing of the nano scale, the phase that we want, and keeping that phase,” Rowntree says. “And then a lot of technology around, ‘How do you cost-effectively scale that?” Will the magnets work? Niron has revealed data on the strength of its initial magnets, which is on the lower end of neodymium’s performance. It expects to eventually approach neodymium’s level, which will make it a worthy competitor. What Niron has not yet revealed publicly is how well the magnets can hold up when exposed to strong magnetic fields in devices like EV motors. At a certain point, stresses like these can jumble the tiny regions of magnetism in any magnet so that they cancel each other out and turn it into just a lump of useless metal. Niron says its magnet’s ability to resist getting demagnetized at room temperature will never be as good as with rare earth metals, but it aims to get close enough. So Niron is starting by putting its magnets in speakers, because they produce a smaller magnetic field, while working to improve its numbers for “more demanding applications.” The company says it can replace weaker magnets, so low-end speakers can be smaller or perform better, but says it will lso replace the more powerful rare earth magnets in higher-end speakers. As for more demanding applications, Niron and Stellantis announced in October a collaboration to develop new motor designs for EVs. Stellantis said simply that this allows us to explore the possibilities.” Niron says its tech could replace neodymium magnets in some aircraft components, too, but not the jet engine. It gets too hot for both magnet types and requires an even pricier rare earth metal: samarium. Providing magnets for autos and planes (and wind turbines) is still years in the future. But if audio gear makers keep to the schedule Niron is forecasting, many questions will be answered next year. “Once these magnets hit the market, they can be studied independently by others, which will be important for the industry,” Morley says.
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Most people think of solopreneurs as a one-person machine. The solopreneur (according to social media) sends invoices, juggles client calls, manages marketing campaigns, and troubleshoots their own websiteall before lunch. Its a compelling narrative because it celebrates endless hustle and grit. But its also a myth. Solopreneurship simply means you make the business decisions. You dont have to consult anyone else or wait for approval. It doesnt mean youre the only person doing the work. Most solopreneurs eventually bring in support (including me, in my solo business). Hiring help doesnt mean youre no longer a real solopreneur. Its a sign that your business is growing. You recognize the value of your time or the limitations of your skill set. {"blockType":"mv-promo-block","data":{"imageDesktopUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/11\/work-better-1.png","imageMobileUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/11\/work-better-mobile-1.png","eyebrow":"","headline":"\u003Cstrong\u003ESubscribe to Work Better\u003C\/strong\u003E","dek":"Thoughts on the future of work, career pivots, and why work shouldn\u0027t suck, by Anna Burgess Yang. To learn more, visit \u003Ca href=\u0022https:\/\/www.workbetter.media\/\u0022\u003Eworkbetter.media\u003C\/a\u003E.","subhed":"","description":"","ctaText":"SIGN UP","ctaUrl":"https:\/\/www.workbetter.media","theme":{"bg":"#f5f5f5","text":"#000000","eyebrow":"#9aa2aa","subhed":"#ffffff","buttonBg":"#000000","buttonHoverBg":"#3b3f46","buttonText":"#ffffff"},"imageDesktopId":91457605,"imageMobileId":91457608,"shareable":false,"slug":""}} Smart solopreneurs hire help as an investment. Outsourcing work or projects can expand your bandwidth while still allowing you to maintain full control over the direction of your business. When to bring in professional support One of the hardest parts of running a solo business is deciding when to get help. Many solopreneurs wait too long because they assume they should be able to do everything themselves. But if you feel like youre working endless hours or youre spending too much time on tasks, its probably time to hire. Think of hiring as a strategic business decision, not a financial splurge. – Accounting or legal help The first category many solopreneurs consider is financial and legal support. They recognize that they dont have the expertise neededand financial or legal mistakes can be costly. An accountant or bookkeeper can manage tax compliance, keep your books clean, and help you understand your cash flow. Their jobs are to be familiar with accounting and tax laws, so you dont have to stress. Typically, accountants or bookkeepers provide ongoing (monthly) support. Legal help becomes important as your business grows in complexity. A lawyer might review your client contracts or help you navigate trademarks if youre developing a brand. Depending on your legal structure, you may also need a lawyer to help with documentation like Articles of Organization (for an LLC). You dont need a lawyer on retainer. Even a few hours of legal support per year can prevent legal problems later. – A virtual assistant A virtual assistant (VA) is often the first hire for solopreneurs who are stretched thin. A VA can manage your inbox, follow up with clients, organize your files, or complete other organizational tasks that eat up hours of your time each week. I rely on a lot of automation in my business. Tasks are completed automatically in the background between apps (using Zapier). But eventually, I reached a point where I couldnt automate anymore. Some work needs a human touch. It was either me, or a virtual assistant. I chose to hire a VA so I could focus on the more strategic/creative parts of my business. Most VAs work on an hourly, project-based, or monthly retainer model. With the right VA, you can start small and expand later if needed. Even a few hours per week can give you breathing room and help you stay focused on the work that generates revenue. – Project-based work Not every type of help needs to be ongoing. You might hire a specialist when youve hit the limits of what you can do yourself. For example, for a long time, I created my own brand assets. Eventually, I hit the limits of what I could do in Canva and wanted a more professional look for my business. I hired a brand designer to create my logo, choose fonts, and clarify my brand messaging. He gave me hundreds of Canva templates for various purposes. If you need a website, a brand refresh, or automation support, a temporary engagement with an expert might make sense. That way, you dont have to spend your time acquiring skills you dont otherwise need and can start using the finished product quickly. Building a team that supports your business Before I started my own business, I was a manager in the corporate world. Being responsible for other peoples career success was hard for me, and I dont think I was particularly good at it. Bringing on help as a solopreneur doesnt mean you have to become a manager in the traditional sense. Often, youre hiring other independent professionals, like you. With the exception of a virtual assistant (who has to learn your systems/processes), the people you hire may not need a ton of oversight or hand-holding. Bringing in help doesnt have to mean building a team in the traditional sense. But before you hire, you should consider these three things: Revenue stability: Can your income support this additional expense? ROI: Will freeing up your time allow you to earn more or reduce stress in a meaningful way? Alignment: Does delegating this work directly support your business and create value? If the answer to any of these questions is no, you may not be ready to hire yet. Solopreneurship doesnt mean doing everything alone Your business works best when youre working to your strengths. The rest can be delegated or outsourced. Im not a designer, so I hired someone to help me with design. Im not an accountant, so I hired someone to help with my bookkeeping. Youve got to know which parts of your business you should hand off so your business can thrive. The goal isnt to grow headcount, like a traditional business would grow. Its about protecting your time and energy the greatest assets your solo business has. {"blockType":"mv-promo-block","data":{"imageDesktopUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/11\/work-better-1.png","imageMobileUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/11\/work-better-mobile-1.png","eyebrw":"","headline":"\u003Cstrong\u003ESubscribe to Work Better\u003C\/strong\u003E","dek":"Thoughts on the future of work, career pivots, and why work shouldn\u0027t suck, by Anna Burgess Yang. To learn more, visit \u003Ca href=\u0022https:\/\/www.workbetter.media\/\u0022\u003Eworkbetter.media\u003C\/a\u003E.","subhed":"","description":"","ctaText":"SIGN UP","ctaUrl":"https:\/\/www.workbetter.media","theme":{"bg":"#f5f5f5","text":"#000000","eyebrow":"#9aa2aa","subhed":"#ffffff","buttonBg":"#000000","buttonHoverBg":"#3b3f46","buttonText":"#ffffff"},"imageDesktopId":91457605,"imageMobileId":91457608,"shareable":false,"slug":""}}
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The Cold War lasted 45 agonizing years. Daily life in the Soviet Union was a mixture of dread and horrorchildren taught to report their parents’ whispered doubts, families queuing for hours for bread, dissidents vanishing in the night. November 8, 1989, was just another day of knowing World War III might pop off at any time. But on November 9, 1989, the Berlin Wall came down. No tanks. No gun battles. No sabotage. Just a peaceful, surreal collapse. The empire fell both slowly and suddenly. Gen Xers and boomers remember the disorienting feeling of watching the impossible happen on evening news broadcasts. With the benefit of hindsight and declassified records now available, we know life under Soviet rule was far worse than Cold War movies or propaganda posters ever revealed. Millions suffered in silence, unable to ask for help because everyone was incentivized to spy on their neighbors. And then, out of nowhere, Germans from east and west Berlin were blaring American rock music from boom boxes, laughing, dancing, and spray-painting graffiti. Strangers took turns smashing apart the physical barrier between despair and hope with whatever they could findhammers, pickaxes, or bare hands. {"blockType":"mv-promo-block","data":{"imageDesktopUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/12\/speakeasy-desktop.png","imageMobileUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/12\/speakeasy-mobile.png","eyebrow":"","headline":"\u003Cstrong\u003ESubscribe to Urbanism Speakeasy\u003C\/strong\u003E","dek":"Join Andy Boenau as he explores ideas that the infrastructure status quo would rather keep quiet. To learn more, visit \u003Ca href=\u0022http:\/\/urbanismspeakeasy.com\/\u0022\u003Eurbanismspeakeasy.com.\u003C\/a\u003E","subhed":"","description":"","ctaText":"SIGN UP","ctaUrl":"http:\/\/urbanismspeakeasy.com\/","theme":{"bg":"#f5f5f5","text":"#000000","eyebrow":"#9aa2aa","subhed":"#ffffff","buttonBg":"#000000","buttonHoverBg":"#3b3f46","buttonText":"#ffffff"},"imageDesktopId":91453933,"imageMobileId":91453932,"shareable":false,"slug":""}} Spontaneous acts of high-spirited foolishness, to quote Sky News. Utter disbelief and glee. The lesson history keeps teaching us Just because current circumstances are miserable doesn’t mean they can’t turn around. When you study history, you can’t help but be overwhelmed by how often things get better in the endand how quickly the transformation can happen once it begins. Cynicism can be tempting for urbanism reformers. They desperately want to break free of status quo regulations and processes that create an antihuman built environment, but it seems hopeless. And yes, the current situation for most Americans is harmful: Anxiety and depression from isolation. Loneliness from neighborhoods designed to keep people apart. Chronic diseases like obesity, diabetes, heart disease, and cancers. Air pollution and noise pollution. Traffic crashes as a leading cause of death. It feels like things have always been this way and always will be. Lack of pedestrian infrastructure, unreliable transit service, subsidized sprawl, ever-expanding arterialsit’s exhausting. Focusing only on the negative without exploring positive outcomes is how cynicism creeps in. “They’re never going to change, because they don’t care about us.” (Whoever “they” happens to be for any given topiccity council, planners, engineers, developers, NIMBYs.) Cynic (noun): a faultfinding critic who believes that human conduct is motivated wholly by self-interest Cynicism feels like realism, but it’s actually a form of blindness. It prevents you from seeing the change agents working in the background, the small victories accumulating, the institutional momentum slowly, imperceptibly shiftinguntil suddenly, the wall comes down. The walls will come down The internet is full of inspiring examples of institutional reform, from massive governments to pocket neighborhoods. Change agents work quietly in the background for years, and then suddenly . . . liberation. Just like world history lessons, you can’t hold onto cynicism if you allow yourself to learn about before-and-after stories related to the built environment. There’s too much evidence of reform, too many walls already crumbling, for anyone to hang their head in gloom about the future of planning and design. The people dancing on the Berlin Wall in 1989 didn’t bring it down alone. They were the visible celebration of decades of invisible workdissidents who wrote forbidden letters, families who maintained hope, officials who made small concessions that accumulated into structural weakness, and a few rogue journalists who told the truth despite the consequences. You might be one of those invisible workers right now. The person who shows up to planning meetings, who writes letters, who builds tactical urbanism projects, who votes for better policy, or who simply talks to friends about what’s possible. The wall you’re pushing against might not fall tomorrow. But if history teaches us anything, it’s that things that seem permanent can collapse with stunning speed once enough pressure accumulates. What feels impossible on a Wednesday becomes reality by Thursday. Things get better in the end. {"blockType":"mv-promo-block","data":{"imageDesktopUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/12\/speakeasy-desktop.png","imageMobileUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/12\/speakeasy-mobile.png","eyebrow":"","headline":"\u003Cstrong\u003ESubscribe to Urbanism Speakeasy\u003C\/strong\u003E","dek":"Join Andy Boenau as he explores ideas that the infrastructure status quo would rather keep quiet. To learn more, visit \u003Ca href=\u0022http:\/\/urbanismspeakeasy.com\/\u0022\u003Eurbanismspeakeasy.com.\u003C\/a\u003E","subhed":"","description":"","ctaText":"SIGN UP","ctaUrl":"http:\/\/urbanismspeakeasy.com\/","theme":{"bg":"#f5f5f5","text":"#000000","eyebrow":"#9aa2aa","subhed":"#ffffff","buttonBg":"#000000","buttonHoverBg":"#3b3f46","buttonText":"#ffffff"},"imageDesktopId":91453933,"imageMobileId":91453932,"shareable":false,"slug":""}}
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