Dino Mavrookas

So if you look at what China has done, Look, they're outbuilding the Navy, the US Navy in terms of combatant ships, three X to one, right? I will go through all the stats on the Chinese fleet and the US fleet and kind of what all that looks like when we talk Saronic. But they're outbuilding on just a military capacity today, three X to one.

So if you look at what China has done, Look, they're outbuilding the Navy, the US Navy in terms of combatant ships, three X to one, right? I will go through all the stats on the Chinese fleet and the US fleet and kind of what all that looks like when we talk Saronic. But they're outbuilding on just a military capacity today, three X to one.

But they actually have 230 times our shipbuilding capacity. They have 5,000, over 5,000 commercially flagged vessels when the US has less than a hundred. So- Could you say that again? Over 5,000 commercially flagged vessels to the US having less than a hundred. So now go back to the World War II example and let me ask you this question. You have 230 times the shipbuilding capacity.

But they actually have 230 times our shipbuilding capacity. They have 5,000, over 5,000 commercially flagged vessels when the US has less than a hundred. So- Could you say that again? Over 5,000 commercially flagged vessels to the US having less than a hundred. So now go back to the World War II example and let me ask you this question. You have 230 times the shipbuilding capacity.

But they actually have 230 times our shipbuilding capacity. They have 5,000, over 5,000 commercially flagged vessels when the US has less than a hundred. So- Could you say that again? Over 5,000 commercially flagged vessels to the US having less than a hundred. So now go back to the World War II example and let me ask you this question. You have 230 times the shipbuilding capacity.

Only a portion of that shipbuilding capacity is being used for military and defense. The rest is commercial. What do you think happens to all of that commercial capacity when the first shot's fired? It's done. It gets converted to defense.

Only a portion of that shipbuilding capacity is being used for military and defense. The rest is commercial. What do you think happens to all of that commercial capacity when the first shot's fired? It's done. It gets converted to defense.

Only a portion of that shipbuilding capacity is being used for military and defense. The rest is commercial. What do you think happens to all of that commercial capacity when the first shot's fired? It's done. It gets converted to defense.

230 to 1. So the numbers are the Chinese can build, and the statistic in the industry is gross tonnage. It's kind of this weird measure of volume. The Chinese can build 23 million gross tons of ships every year. The United States can build 100,000.

230 to 1. So the numbers are the Chinese can build, and the statistic in the industry is gross tonnage. It's kind of this weird measure of volume. The Chinese can build 23 million gross tons of ships every year. The United States can build 100,000.

230 to 1. So the numbers are the Chinese can build, and the statistic in the industry is gross tonnage. It's kind of this weird measure of volume. The Chinese can build 23 million gross tons of ships every year. The United States can build 100,000.

These are commercial ships. These are large cargo containers. These are military ships. These are destroyers. These are aircraft carriers. These are everything.

These are commercial ships. These are large cargo containers. These are military ships. These are destroyers. These are aircraft carriers. These are everything.

These are commercial ships. These are large cargo containers. These are military ships. These are destroyers. These are aircraft carriers. These are everything.

You're not off on that. They do need more ships. But if you look at why they've been building out their capacity and how they've been doing it, they've been subsidizing it from the government, undercutting everybody on price, and doing it for a very, very strategic reason. 25 years ago, they had 5% of the world's global shipbuilding capacity. Wow. 25 years ago. Today they have 50%.

You're not off on that. They do need more ships. But if you look at why they've been building out their capacity and how they've been doing it, they've been subsidizing it from the government, undercutting everybody on price, and doing it for a very, very strategic reason. 25 years ago, they had 5% of the world's global shipbuilding capacity. Wow. 25 years ago. Today they have 50%.

You're not off on that. They do need more ships. But if you look at why they've been building out their capacity and how they've been doing it, they've been subsidizing it from the government, undercutting everybody on price, and doing it for a very, very strategic reason. 25 years ago, they had 5% of the world's global shipbuilding capacity. Wow. 25 years ago. Today they have 50%.

50%, we're at .1%. 5-0, we're at .1%. That means if you get every single country in the world that builds ships all lined up against China, you're just at parity. Holy. So you better rethink this problem. You better start thinking about autonomy and how to build things differently. This goes back to like, you don't want to go head to head on just a purely let's go see who can build more destroyers.

50%, we're at .1%. 5-0, we're at .1%. That means if you get every single country in the world that builds ships all lined up against China, you're just at parity. Holy. So you better rethink this problem. You better start thinking about autonomy and how to build things differently. This goes back to like, you don't want to go head to head on just a purely let's go see who can build more destroyers.

50%, we're at .1%. 5-0, we're at .1%. That means if you get every single country in the world that builds ships all lined up against China, you're just at parity. Holy. So you better rethink this problem. You better start thinking about autonomy and how to build things differently. This goes back to like, you don't want to go head to head on just a purely let's go see who can build more destroyers.