Matt Grimm

And that's before we start talking about other partner nations like Japan or like Taiwan or Middle Eastern allies or any of that. That's purely just looking at like this year's spending. It's like over a trillion, almost a trillion five in spending. Big number. My point is just that this isn't a kind of new emerging sort of like... oh, I wonder what that growth sector is going to look like.

And that's before we start talking about other partner nations like Japan or like Taiwan or Middle Eastern allies or any of that. That's purely just looking at like this year's spending. It's like over a trillion, almost a trillion five in spending. Big number. My point is just that this isn't a kind of new emerging sort of like... oh, I wonder what that growth sector is going to look like.

It's not that at all. It's a big, enduring, very reliable sector. The other thing I would say, kind of bringing it back around to the political positioning where we started the conversation, is that defense spending has largely remained fairly flat and kind of grown pretty predictably, almost linearly over Republican administrations, Democratic administrations, same in the UK for what it's worth.

It's not that at all. It's a big, enduring, very reliable sector. The other thing I would say, kind of bringing it back around to the political positioning where we started the conversation, is that defense spending has largely remained fairly flat and kind of grown pretty predictably, almost linearly over Republican administrations, Democratic administrations, same in the UK for what it's worth.

It's not that at all. It's a big, enduring, very reliable sector. The other thing I would say, kind of bringing it back around to the political positioning where we started the conversation, is that defense spending has largely remained fairly flat and kind of grown pretty predictably, almost linearly over Republican administrations, Democratic administrations, same in the UK for what it's worth.

So from a perspective of like, do we think our customers will be there buying important technology in five years? Of course they will be. So yeah, I think there's a couple of pieces. One is like, I don't see it as a true winner take all. I don't see it as like Lockheed, Boeing, Northrop, Raytheon, et cetera. We're going to take all of them down. I don't see that at all.

So from a perspective of like, do we think our customers will be there buying important technology in five years? Of course they will be. So yeah, I think there's a couple of pieces. One is like, I don't see it as a true winner take all. I don't see it as like Lockheed, Boeing, Northrop, Raytheon, et cetera. We're going to take all of them down. I don't see that at all.

So from a perspective of like, do we think our customers will be there buying important technology in five years? Of course they will be. So yeah, I think there's a couple of pieces. One is like, I don't see it as a true winner take all. I don't see it as like Lockheed, Boeing, Northrop, Raytheon, et cetera. We're going to take all of them down. I don't see that at all.

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UK spending too little by a wide order of magnitude. What should it be? Closer to the 2.5%, 3% of GDP that everyone's committed that they should be spending on NATO. It should be, my guess is like 50% higher than that. More importantly than a particular dollar amount, they should be spending it more efficiently. And the UK, like the US, is not.

UK spending too little by a wide order of magnitude. What should it be? Closer to the 2.5%, 3% of GDP that everyone's committed that they should be spending on NATO. It should be, my guess is like 50% higher than that. More importantly than a particular dollar amount, they should be spending it more efficiently. And the UK, like the US, is not.

UK spending too little by a wide order of magnitude. What should it be? Closer to the 2.5%, 3% of GDP that everyone's committed that they should be spending on NATO. It should be, my guess is like 50% higher than that. More importantly than a particular dollar amount, they should be spending it more efficiently. And the UK, like the US, is not.

Your comment, not mine.

Your comment, not mine.

Your comment, not mine.