Dino Mavrookas

It's hard. It's hard. And look, there are organizations set up to fast-track this stuff. DIU, or Defense Innovation Unit, phenomenal organization. We partner with them. They've taught us a lot about the end user, the customer. But the process that we've talked about, it's just really hard to drive adoption into the government.

It's hard. It's hard. And look, there are organizations set up to fast-track this stuff. DIU, or Defense Innovation Unit, phenomenal organization. We partner with them. They've taught us a lot about the end user, the customer. But the process that we've talked about, it's just really hard to drive adoption into the government.

It's hard. It's hard. And look, there are organizations set up to fast-track this stuff. DIU, or Defense Innovation Unit, phenomenal organization. We partner with them. They've taught us a lot about the end user, the customer. But the process that we've talked about, it's just really hard to drive adoption into the government.

1993.

1993.

1993.

What was that? Was that Clinton? The last, yeah, I think so. I think so. The Secretary of Defense was Les Aspin. Since then, there's only been three massive companies that have started. SpaceX, Palantir, and now Anduril. SpaceX and Palantir started in the early 2000s, so call it 2001, 2002-ish timeframe. Then you had a 15-year gap. Man. Until Anduril was started in 2017.

What was that? Was that Clinton? The last, yeah, I think so. I think so. The Secretary of Defense was Les Aspin. Since then, there's only been three massive companies that have started. SpaceX, Palantir, and now Anduril. SpaceX and Palantir started in the early 2000s, so call it 2001, 2002-ish timeframe. Then you had a 15-year gap. Man. Until Anduril was started in 2017.

What was that? Was that Clinton? The last, yeah, I think so. I think so. The Secretary of Defense was Les Aspin. Since then, there's only been three massive companies that have started. SpaceX, Palantir, and now Anduril. SpaceX and Palantir started in the early 2000s, so call it 2001, 2002-ish timeframe. Then you had a 15-year gap. Man. Until Anduril was started in 2017.

And their last valuation was $14 billion. I think they're talking about raising at a $28 billion valuation. But those are really only, when you talk about what matters for the military, you really have to get to scale. You really have to be able to build thousands of platforms that are extremely capable. And that means you have to be a really big company. Right? There's only been three.

And their last valuation was $14 billion. I think they're talking about raising at a $28 billion valuation. But those are really only, when you talk about what matters for the military, you really have to get to scale. You really have to be able to build thousands of platforms that are extremely capable. And that means you have to be a really big company. Right? There's only been three.

And their last valuation was $14 billion. I think they're talking about raising at a $28 billion valuation. But those are really only, when you talk about what matters for the military, you really have to get to scale. You really have to be able to build thousands of platforms that are extremely capable. And that means you have to be a really big company. Right? There's only been three.

And the reason is, again, it's just hard to do business with the government. And prior to 2017, and this is where I'll give Anduril a ton of credit, right? People, investors, weren't really interested in driving money into defense. It was a hard place to make a return. This is why I try to tell the government, look, you actually want Seronic to make money. You want us to do really well.

And the reason is, again, it's just hard to do business with the government. And prior to 2017, and this is where I'll give Anduril a ton of credit, right? People, investors, weren't really interested in driving money into defense. It was a hard place to make a return. This is why I try to tell the government, look, you actually want Seronic to make money. You want us to do really well.

And the reason is, again, it's just hard to do business with the government. And prior to 2017, and this is where I'll give Anduril a ton of credit, right? People, investors, weren't really interested in driving money into defense. It was a hard place to make a return. This is why I try to tell the government, look, you actually want Seronic to make money. You want us to do really well.

Don't worry about squeezing the margin because every dollar we make, one, we reinvest it back into the company for R&D. But two, the more money you make, the more that investors will be able to leverage private capital, will magnify any dollar the government puts into our company through acquisition or otherwise 10 times over, and we'll be able to build even better systems faster.

Don't worry about squeezing the margin because every dollar we make, one, we reinvest it back into the company for R&D. But two, the more money you make, the more that investors will be able to leverage private capital, will magnify any dollar the government puts into our company through acquisition or otherwise 10 times over, and we'll be able to build even better systems faster.

Don't worry about squeezing the margin because every dollar we make, one, we reinvest it back into the company for R&D. But two, the more money you make, the more that investors will be able to leverage private capital, will magnify any dollar the government puts into our company through acquisition or otherwise 10 times over, and we'll be able to build even better systems faster.

But the reason why there's been such this bottleneck in resilience, it goes back to this PPB process. Planning, programming, budgeting, and execution. It's a four- to five-year window where... The government will go and plan for 18 months. They'll then go through programming, which means writing the requirements. Okay, what are the things that we actually need the platforms to do?

But the reason why there's been such this bottleneck in resilience, it goes back to this PPB process. Planning, programming, budgeting, and execution. It's a four- to five-year window where... The government will go and plan for 18 months. They'll then go through programming, which means writing the requirements. Okay, what are the things that we actually need the platforms to do?