Dino Mavrookas

So we came out, we as a country, the United States, came out of the Cold War and drastically cut our military spending. So what that did, so 24% reduction in military spending after the Cold War. 41% in naval spending after the Cold War. Wow. So you can imagine what happened to the shipbuilding programs. Wow. Not only that, the then Secretary of Defense, there's this very famous meeting they had.

So we came out, we as a country, the United States, came out of the Cold War and drastically cut our military spending. So what that did, so 24% reduction in military spending after the Cold War. 41% in naval spending after the Cold War. Wow. So you can imagine what happened to the shipbuilding programs. Wow. Not only that, the then Secretary of Defense, there's this very famous meeting they had.

They call it the Last Supper. It's in 1993. The then Secretary of Defense called in all the heads of the large defense contractors. And there were 55 or so at the time. and said, we're slashing defense spending. There's not going to be enough budget to go around. You guys have my blood. You guys have to consolidate or you will go out of business. And so those 55 companies went down to five.

They call it the Last Supper. It's in 1993. The then Secretary of Defense called in all the heads of the large defense contractors. And there were 55 or so at the time. and said, we're slashing defense spending. There's not going to be enough budget to go around. You guys have my blood. You guys have to consolidate or you will go out of business. And so those 55 companies went down to five.

They call it the Last Supper. It's in 1993. The then Secretary of Defense called in all the heads of the large defense contractors. And there were 55 or so at the time. and said, we're slashing defense spending. There's not going to be enough budget to go around. You guys have my blood. You guys have to consolidate or you will go out of business. And so those 55 companies went down to five.

They're known as the big five. It's Lockheed, Raytheon, Northrop, Boeing, and General Dynamics. Right? That happened in 93. And then obviously that consolidation took years to happen. Then, so you have that trend. That's one mega trend, right? So what happened? Did those five buy all the other subsidiaries? They bought all the other companies and they just combined into mega conglomerates. Yeah.

They're known as the big five. It's Lockheed, Raytheon, Northrop, Boeing, and General Dynamics. Right? That happened in 93. And then obviously that consolidation took years to happen. Then, so you have that trend. That's one mega trend, right? So what happened? Did those five buy all the other subsidiaries? They bought all the other companies and they just combined into mega conglomerates. Yeah.

They're known as the big five. It's Lockheed, Raytheon, Northrop, Boeing, and General Dynamics. Right? That happened in 93. And then obviously that consolidation took years to happen. Then, so you have that trend. That's one mega trend, right? So what happened? Did those five buy all the other subsidiaries? They bought all the other companies and they just combined into mega conglomerates. Yeah.

So yeah, that one kind of mega trend happening in the market. The other thing was, obviously, 2001, we go into Afghanistan. 2003, we go into Iraq. And we're there for 20 years. So our attention as a nation was on counterinsurgency, was on the global war on terror. It wasn't How do we have the most powerful navy in the world to deter the Chinese?

So yeah, that one kind of mega trend happening in the market. The other thing was, obviously, 2001, we go into Afghanistan. 2003, we go into Iraq. And we're there for 20 years. So our attention as a nation was on counterinsurgency, was on the global war on terror. It wasn't How do we have the most powerful navy in the world to deter the Chinese?

So yeah, that one kind of mega trend happening in the market. The other thing was, obviously, 2001, we go into Afghanistan. 2003, we go into Iraq. And we're there for 20 years. So our attention as a nation was on counterinsurgency, was on the global war on terror. It wasn't How do we have the most powerful navy in the world to deter the Chinese?

we were focused somewhere fundamentally differently for 20 years. So we have this reduction in spending, which actually ramps back up for Iraq and Afghanistan, but that doesn't mean that we're building the platforms we need for 2025 and beyond, because again, very different type of conflict.

we were focused somewhere fundamentally differently for 20 years. So we have this reduction in spending, which actually ramps back up for Iraq and Afghanistan, but that doesn't mean that we're building the platforms we need for 2025 and beyond, because again, very different type of conflict.

we were focused somewhere fundamentally differently for 20 years. So we have this reduction in spending, which actually ramps back up for Iraq and Afghanistan, but that doesn't mean that we're building the platforms we need for 2025 and beyond, because again, very different type of conflict.

We're still living in this world of everybody's still friends, but now there's just terrorists, but global conflict's not a thing. So you have these two mega trends that kind of happen that are one, reduction in spending for big platforms, consolidation in the defense industrial base, And then our focus as a military on a very, very different type of adversary.

We're still living in this world of everybody's still friends, but now there's just terrorists, but global conflict's not a thing. So you have these two mega trends that kind of happen that are one, reduction in spending for big platforms, consolidation in the defense industrial base, And then our focus as a military on a very, very different type of adversary.

We're still living in this world of everybody's still friends, but now there's just terrorists, but global conflict's not a thing. So you have these two mega trends that kind of happen that are one, reduction in spending for big platforms, consolidation in the defense industrial base, And then our focus as a military on a very, very different type of adversary.

So with decreased spending and decreased competition, you don't have a whole lot of innovation. Yeah.

So with decreased spending and decreased competition, you don't have a whole lot of innovation. Yeah.

So with decreased spending and decreased competition, you don't have a whole lot of innovation. Yeah.