How do I fix this game crash?

I bought Rust on steam and I can not get past the loading screen. I load it up and the grey screen with a cartoon face thing in the middle. Then this shows up.

Oops the game crashed! The crash report folder name “2013-10-16-211452” next to the game executable. It would be great if you could send it to the developer of the game.

This exits out of the loading screen and the only option from there is to hit the Okay button. Then I just cant play it at all. PLEASE HELP!!! I just spent $20 for what I am starting to think is a scam.

Post specs please.

I get the same thing but this is what my crash output is http://pastebin.com/VRwsLYpn