Atlassian Co-founder Scott Farquhar: Exporting Megawatts as Megabytes for Megabucks
Australia’s tech story is changing fast. For years, we exported iron ore, coal, and gas. Now, leaders like Scott Farquhar, co‑founder of Atlassian, believe our next big export will be digital. He famously describes it as sending “megawatts as megabytes for megabucks.”
Farquhar’s idea is simple but powerful. We already have abundant renewable energy. If we use that energy to power data centres and cloud services, we can sell knowledge and software to the world, not just raw materials. This shift could place Australia on the map as a global technology hub.
We will explore Farquhar’s journey, his strong vision for Australia’s digital future, and the challenges and hurdles in turning renewable energy into data-powered prosperity.
Scott Farquhar’s Background and Atlassian Journey
Scott Farquhar had started Atlassian with his partner on the year 2002, when the company was still in university, with Mike Cannon-Brookes as the other co-founder. They began with tools like Jira and Confluence. Those tools helped teams collaborate online.
Atlassian has grown into a leading global SaaS company, serving clients across the world. It grew through smart engineering and open culture. Farquhar made a fortune, enough to become an Australasian tech industry leader, and he was granted a borderline clean chit from the regulators.
He currently works as Atlassian’s co‑CEO and heads the Tech Council of Australia in the role of chairman. In that role, he pushes for policies that help tech scale faster locally and globally.
Australia’s Shift: From Energy to Digital Exports
Australia has been depending on its energy exports, coal, iron, and gas. This model earned raw dollars. But that model is shifting.
Farquhar argues we already have the building blocks for digital exports. We get cheap, clean power, a strong rule of law, and a skilled workforce. That mix makes launching data centres and cloud zones easier and competitive on the world stage.
We can now sell digital services instead of raw materials. The new exports are not just megawatts of power, but also bytes, software, and data.
Farquhar’s Vision: Exporting Knowledge, Not Just Power
While speaking at the National Press Club, Farquhar told the audience that Australia has the potential to meet the rapidly rising data needs of South‑East Asia. Countries like Indonesia and Vietnam now have more users of ChatGPT than the US. He said, “We should export megawatts as megabytes for potentially megabucks.” That phrase captures his vision perfectly.
He sees data centres powered by solar and wind. These centres can store AI models, host cloud services, and support growth across Asia. That’s the value Australia can deliver.
Major Initiatives and Investments
As Chair of the Tech Council, Farquhar is building connections with government to speed up approvals for data centres and clean energy builds.
Atlassian aims to reach net‑zero emissions by 2050. That includes relying fully on renewables and improving energy efficiency in its operations and data-use habits.
He’s also pushing for updated copyright laws to enable the training of large language models in Australia. Changes would unlock more economic value and keep more AI activity within Australia’s economy.
Challenges in Realizing the Vision
Farquhar says we need faster planning and approvals. Currently, getting green energy and data centre projects online takes too long. That slows growth and investment.
Our labour costs are relatively high. But Farquhar believes that strong energy resources, abundant talent, and scale can offset that. Still, skill shortages in AI, infrastructure, and digital law may limit how fast we grow.
Copyright laws also need updating. Without alignment with global AI policies, Australia might lose out on training and data services revenues.
Future Outlook: Can Australia Lead in Digital Exports?
We are at a tipping point. Asia’s digital economies are growing fast. Australia has the option to drive that growth using data services supported by clean energy. Farquhar believes this could become a $10 billion‑plus opportunity if we get policy and infrastructure right.
This could support jobs in tech, engineering, construction of data centres, and AI development. With smart policy, inclusive education, and open regulation, Australia can become a regional export hub.
Conclusion
Scott Farquhar’s vision maps a clear path: shift our exports from raw energy toward data and digital knowledge. Instead of shipping coal, we would ship value. It’s a chance to match our renewable energy strength with global digital demand. It’s a chance to turn our watts into megabytes and turn them into megabucks. If we support this vision, we can build a future that’s green, smart, and economically strong.
FAQs
Scott Farquhar is an Australian businessman. He co‑founded Atlassian in 2002. He helped build it into a global software company that powers teamwork tools like Jira and Confluence.
He started Atlassian with his uni mate, funding it out of a credit card. Then the company went public in 2015. His shares grew into a multibillion‑dollar fortune.
He stepped down as co‑CEO in August 2024 to focus on family, philanthropy, and investing through his fund Skip Capital. He remains an adviser and non-executive director at Atlassian.
Disclaimer:
This is for information only, not financial advice. Always do your research.