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Anduril Industries

also referred to as: anduril

98 statements across 23 episodes · 53 bullish · 18 bearish · 19 people on the record · first statement Sep 28, 2020 by Palmer Luckey · said 349 times in 57 episodes since 2020 · across every show →

Mentions by year

brought up most by Harry Stebbings (217), Matt Grimm (20), Matthew Steckman (18), Brian Singerman (11), Trae Stephens (9), Katherine Boyle (8), Jason Lemkin (8), Rory O'Driscoll (4)

tap a year for its mentions
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010202020202120222023202420252026episodes it came up in
00101020202020202120222023202420252026episodesmentions per episode
2026 75 mentions in 15 episodes 5 per episode
2025 71 mentions in 20 episodes 4 per episode
2024 108 mentions in 12 episodes 9 per episode
2023 2 mentions in 1 episode
2022 14 mentions in 3 episodes 5 per episode
2021 40 mentions in 2 episodes 20 per episode
2020 39 mentions in 4 episodes 10 per episode

every mention, scene by scene, with the transcript →

Everything said about Anduril Industries, oldest first

Sep 28, 2020
Assertion Not checkable as stated
Luckey: Most Anduril leadership and employees lean left politically
“The reality is that most of our leadership and honestly, most of the company actually leans more to the left.”
Palmer Luckey Sep 28, 2020 ▶ 39:39 20VC: Anduril Founder, Palmer Luckey: "I Am Here To Build a $50Bn Company", How Palmer Evaluates His Relationship To Money Pre & Post Oculus' $2.3Bn Exit & Why The US DOD Needs To Be More Like China in It's Approach
Sep 28, 2020 bullish
Prediction Not checkable as stated
Luckey: Anduril's end goal is building a fully vertically integrated defense giant
“That is the end goal. Like in the end, I want to build products that make all of my other products more valuable.”
Palmer Luckey Sep 28, 2020 ▶ 11:17 20VC: Anduril Founder, Palmer Luckey: "I Am Here To Build a $50Bn Company", How Palmer Evaluates His Relationship To Money Pre & Post Oculus' $2.3Bn Exit & Why The US DOD Needs To Be More Like China in It's Approach
Sep 28, 2020 positive
Assertion Supported
Luckey: Anduril sells defense software continuously as a service, not annual licenses
“We don't sell somebody a software system and then sell them the new version a year later. Instead, we're basically continuously selling it to them usually as a service.”
Palmer Luckey Sep 28, 2020 ▶ 13:49 20VC: Anduril Founder, Palmer Luckey: "I Am Here To Build a $50Bn Company", How Palmer Evaluates His Relationship To Money Pre & Post Oculus' $2.3Bn Exit & Why The US DOD Needs To Be More Like China in It's Approach
Sep 28, 2020
Prediction Held up
Luckey: Anduril will avoid hiring 1,000 people in a single year
“I don't want to hire a thousand people in a year because I know that it's almost impossible for any organism to survive that.”
Palmer Luckey Sep 28, 2020 ▶ 41:45 20VC: Anduril Founder, Palmer Luckey: "I Am Here To Build a $50Bn Company", How Palmer Evaluates His Relationship To Money Pre & Post Oculus' $2.3Bn Exit & Why The US DOD Needs To Be More Like China in It's Approach
Oct 1, 2020 bullish
Opinion
Boyle: Anduril's Founding Team Is Equivalent to the 1998 Chicago Bulls
“Andrew was a very special case and that this team is So excellent. I mean, it really is, you know, I think everyone's watching The Last Dads, but it really is the 98 Chicago Bulls. I mean, this is such an extraordinary team that had worked together before, eve…”
Katherine Boyle Oct 1, 2020 ▶ 23:25 20VC: What Is Founder Narrative Fit and How to Detect and Invest In It, How To Avoid Consensus Thinking When Investing, Price Sensititivity; When To Pay Up vs Stay Disciplined & From New York Times To General Catalyst; Why Venture and Journalism are Not S
Oct 1, 2020 positive
Disclosure
Boyle: General Catalyst Didn't Lead an Anduril Round Until Series B
“With Anderil, we invested in the seed. We also invested in the A, but we didn't lead around until the series B when we co-led with Founders Fund.”
Katherine Boyle Oct 1, 2020 ▶ 27:11 20VC: What Is Founder Narrative Fit and How to Detect and Invest In It, How To Avoid Consensus Thinking When Investing, Price Sensititivity; When To Pay Up vs Stay Disciplined & From New York Times To General Catalyst; Why Venture and Journalism are Not S
Oct 1, 2020 bullish
Assertion Not checkable as stated
Boyle: Anduril Solved a 30-Year Government Defense Incentive Problem
“Same thing with creating new defense companies like Andrel. For 30 years, the government has not been able to figure out how do we build new technology and how do we incentivize Silicon Valley to work with us, and Andrel has figured out how to align the incent…”
Katherine Boyle Oct 1, 2020 ▶ 38:15 20VC: What Is Founder Narrative Fit and How to Detect and Invest In It, How To Avoid Consensus Thinking When Investing, Price Sensititivity; When To Pay Up vs Stay Disciplined & From New York Times To General Catalyst; Why Venture and Journalism are Not S
Oct 1, 2020
Assertion Supported
Boyle: In 2017, No Silicon Valley Startup Competed With Defense Incumbents
“There are very few companies, and particularly in 2017, when Andrew was founded, there wasn't anyone in Silicon Valley building a new defense contractor that wanted to compete with Raytheon and Lockheed Martin.”
Katherine Boyle Oct 1, 2020 ▶ 17:06 20VC: What Is Founder Narrative Fit and How to Detect and Invest In It, How To Avoid Consensus Thinking When Investing, Price Sensititivity; When To Pay Up vs Stay Disciplined & From New York Times To General Catalyst; Why Venture and Journalism are Not S
Nov 11, 2021 bullish
Opinion
Singerman: Anduril's software platform is its most transformative product
“It is truly transformative in the defense space to have a real software platform backing all of your products that doesn't exist. And so I do still think that that is the most important and impressive part of the company right now.”
Brian Singerman Nov 11, 2021 ▶ 23:27 20VC: The Anduril Memo: Founders Fund's Brian Singerman on What Makes Palmer Luckey One of the Greatest Innovators in History, Why It Is BS The DOD Do Not Want To Work With Silicon Valley & Why in Venture You Have To Play A Different Game to the Hedge Fun
Nov 11, 2021 positive
Assertion Supported
Anduril won major government defense contracts within two years
“I think it took Andrel two years. The speed at which these guys were able to break in to these large government contracts was astounding.”
Brian Singerman Nov 11, 2021 ▶ 9:02 20VC: The Anduril Memo: Founders Fund's Brian Singerman on What Makes Palmer Luckey One of the Greatest Innovators in History, Why It Is BS The DOD Do Not Want To Work With Silicon Valley & Why in Venture You Have To Play A Different Game to the Hedge Fun
Nov 11, 2021 positive
Assertion Contradicted
No other Silicon Valley company was innovating in defense before Anduril
“At the time when we did this, there was no other company in Silicon Valley innovating in defense.”
Brian Singerman Nov 11, 2021 ▶ 22:56 20VC: The Anduril Memo: Founders Fund's Brian Singerman on What Makes Palmer Luckey One of the Greatest Innovators in History, Why It Is BS The DOD Do Not Want To Work With Silicon Valley & Why in Venture You Have To Play A Different Game to the Hedge Fun
Nov 11, 2021
Assertion Supported
Anduril exclusively sells to the US and its allies
“Yeah, I mean, we only sell to the US and our allies. We don't do anything where it would not be good with the US government to work with. We would not work with any countries that are not, you know, total allies in the United States.”
Brian Singerman Nov 11, 2021 ▶ 11:26 20VC: The Anduril Memo: Founders Fund's Brian Singerman on What Makes Palmer Luckey One of the Greatest Innovators in History, Why It Is BS The DOD Do Not Want To Work With Silicon Valley & Why in Venture You Have To Play A Different Game to the Hedge Fun
Nov 11, 2021 positive
Disclosure
Founders Fund incubated defense tech startup Anduril
“We incubated the company from there.”
Brian Singerman Nov 11, 2021 ▶ 4:05 20VC: The Anduril Memo: Founders Fund's Brian Singerman on What Makes Palmer Luckey One of the Greatest Innovators in History, Why It Is BS The DOD Do Not Want To Work With Silicon Valley & Why in Venture You Have To Play A Different Game to the Hedge Fun
Oct 31, 2022 bullish
Opinion
Singerman: Bullish on defense tech, but no team compares to Anduril
“Defense tech is an area that I'm bullish on, but there's nothing like Endural.”
Brian Singerman Oct 31, 2022 ▶ 48:52 Brian Singerman: How I Became a Partner at Founders Fund, Why We Put $400M into Anduril | 20VC #943 · 20VC with Harry Stebbings
Oct 31, 2022 bullish
Disclosure
Singerman: Founders Fund has invested $400 million total into Anduril
“We put more than, we put four hundred million in that company total now. This is just our most recent one was two hundred million.”
Brian Singerman Oct 31, 2022 ▶ 47:24 Brian Singerman: How I Became a Partner at Founders Fund, Why We Put $400M into Anduril | 20VC #943 · 20VC with Harry Stebbings
Oct 31, 2022 bullish
Prediction Held up
Singerman predicts Founders Fund's $200M Anduril check will turn into $2B
“Enduro is going to be an extremely valuable company. I am, there's, yes, quite sure of that. We are not going to lose that two hundred million dollar check. That two hundred million dollars will turn into, you know, two billion.”
Brian Singerman Oct 31, 2022 ▶ 34:41 Brian Singerman: How I Became a Partner at Founders Fund, Why We Put $400M into Anduril | 20VC #943 · 20VC with Harry Stebbings
Apr 3, 2024 positive
Opinion
Stephens: Brian Schimpf Is the Most Brilliant Software Engineer I've Worked With
“We should keep in mind that the co-founder CEO is Brian Schimpf, who is the most brilliant software engineer I've ever worked with.”
Trae Stephens Apr 3, 2024 ▶ 1:01:23 Trae Stephens: Why No Company is Successful Because of their VC | E1135 · 20VC with Harry Stebbings
Apr 3, 2024 positive
Opinion
Stephens: Operational Role at Anduril Makes Him a Better VC
“And so I think being in a place where I'm operationally engaged at Andrel, like, I actually, I'm up to date. Like I know what people are using. I know what like is impacting our business in a meaningful way. I know what stuff that we're, we started using that …”
Trae Stephens Apr 3, 2024 ▶ 1:07:45 Trae Stephens: Why No Company is Successful Because of their VC | E1135 · 20VC with Harry Stebbings
Apr 3, 2024 negative
Insight
Stephens: Globalization Failed and Nuclear Deterrence Cannot Prevent Conflict
“I think like the writing has been on the wall for a while that globalization didn't really work and that traditional strategic deterrence with nuclear weapons was not going to be the only thing that drove reduction in conflict globally.”
Trae Stephens Apr 3, 2024 ▶ 56:15 Trae Stephens: Why No Company is Successful Because of their VC | E1135 · 20VC with Harry Stebbings
Apr 3, 2024 positive
Disclosure
Stephens: Self-Funding R&D Risk Was Crucial to Anduril's Early Wins
“Shifting that risk to us rather than putting it on the government was really important to those early wins.”
Trae Stephens Apr 3, 2024 ▶ 55:13 Trae Stephens: Why No Company is Successful Because of their VC | E1135 · 20VC with Harry Stebbings
Apr 3, 2024 bullish
Prediction Not checkable as stated
Stephens: A Rebooted Defense Prime Could Be Worth Hundreds of Billions
“If you can actually be a next generation rebooted version of Lockheed Martin or Northrop Grumman, that company could be worth hundreds of billions of dollars.”
Trae Stephens Apr 3, 2024 ▶ 15:30 Trae Stephens: Why No Company is Successful Because of their VC | E1135 · 20VC with Harry Stebbings
Apr 3, 2024 neutral
Assertion Supported
Stephens: US Government, Not Defense Startups, Decides Foreign Military Buyers
“This is probably like, not to put a, you know, a target on your back, Harry, but this is the most naive question that non-defense people ask, because the reality is that we don't decide. The US government decides.”
Trae Stephens Apr 3, 2024 ▶ 1:02:29 Trae Stephens: Why No Company is Successful Because of their VC | E1135 · 20VC with Harry Stebbings
Apr 3, 2024 bullish
Assertion Not checkable as stated
Stephens: Every Big Founders Fund Win Had a $100B Advocate
“If you look at any of the big outcomes across our portfolio, whether it's you know, Spotify, Stripe, Airbnb, Palantir, SpaceX, Andrel stem centric. So if you look at all of these big outcomes for us, every single one of them, there was someone on the team bang…”
Trae Stephens Apr 3, 2024 ▶ 35:50 Trae Stephens: Why No Company is Successful Because of their VC | E1135 · 20VC with Harry Stebbings
Apr 3, 2024 bullish
Prediction Open · timeframe Apr 2027
Stephens: Anduril Could Reach $100B With a Fraction of Lockheed's Revenue
“Andrew operates at higher margins, much faster growth rates. I think we could be worth Over a hundred billion dollars with a tiny fraction of Lockheed's revenue.”
Trae Stephens Apr 3, 2024 ▶ 1:13:11 Trae Stephens: Why No Company is Successful Because of their VC | E1135 · 20VC with Harry Stebbings
Jun 19, 2024 bullish
Prediction Not checkable as stated
Eisenberg: Anduril will scale defense contracting much faster than Palantir
“Palantir took 20 years to crack this code. Andrew will crack it much faster because of Palantir.”
Michael Eisenberg Jun 19, 2024 ▶ 30:10 Michael Eisenberg: How China Could Overtake the US in the AI Race | E1167 · 20VC with Harry Stebbings
Aug 12, 2024
Disclosure
Maguire: Missing Anduril's seed round was my biggest investment mistake
“I should have had the chance to like my, yeah, I should have had the chance to. I was right around those guys. And yeah, I'm a moron for not finding a way in there.”
Shaun Maguire Aug 12, 2024 ▶ 1:07:29 Shaun Maguire: Why Iran is the World's Greatest Evil & Trump is the Only Hope for Peace | E1189 · 20VC with Harry Stebbings
Nov 11, 2024 neutral
Assertion Not checkable as stated
Grimm: Women Account for 18% to 20% of Anduril's Workforce
“We're about, I think, like, 18%, 20%, something like that.”
Matt Grimm Nov 11, 2024 ▶ 1:04:09 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 positive
Disclosure
Anduril operates internally as an apolitical company following Coinbase's philosophy
“Internal to Anderrill, like we're an apolitical company. Like we don't talk about personal politics inside the company. We kind of subscribe to the Brian Armstrong Coinbase kind of philosophy of like, we're here for a mission.”
Matt Grimm Nov 11, 2024 ▶ 2:08 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024
Insight
Matt Grimm: Relentless self-criticism benefits top teams but breaks weak teams
“It's good for high-performing teams. It's not great for shit teams.”
Matt Grimm Nov 11, 2024 ▶ 48:25 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024
Disclosure
Grimm: Anduril reinvests all revenue and remains EBITDA negative
“Like, Andrew, we're gonna do, we're doing very well financially this year revenue's off, off the charts. And then we reinvest every single nickel of that right back into future growth, future programs, all of that. So, like, we're still, you know, ebbed and ne…”
Matt Grimm Nov 11, 2024 ▶ 39:23 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 positive
Disclosure
Anduril and Co-Founder Matt Grimm Officially Stand With Israel
“I don't at all, no. Absolutely not. Personally stand with them, and we as a company do too.”
Matt Grimm Nov 11, 2024 ▶ 12:40 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 bullish
Prediction Open · timeframe Nov 2029
Matt Grimm: Anduril will go public and likely be his final company
“I think probably. I mean, we're all in this for the long haul. I think probably. We're gonna ring the bell one day, and then we're, you know, gonna build a massively successful publicly traded company, and like, yeah, it's probably my last.”
Matt Grimm Nov 11, 2024 ▶ 1:45:21 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 neutral
Disclosure
Grimm: I am a lifelong Democrat and donated to Kamala Harris
“For me personally, I'm a Democrat. I've been a lifelong Democrat. I've supported Democrats my entire life. I donated to Kamala. I donated to Hillary Clinton, donated to a number of House Democratic races, Senate Democratic races, recently hosted a fundraiser f…”
Matt Grimm Nov 11, 2024 ▶ 1:14 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024
Assertion Supported
Grimm: Anduril has raised $4B in equity and $5B total including debt
“Short of debt, it would be about four billion. With debt, it'd be about five billion.”
Matt Grimm Nov 11, 2024 ▶ 51:14 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 positive
Insight
Software-first modular design enables 2-3 year defense hardware cycles
“I think a two, three year cycle is extremely believable, especially if you architect your products to be pretty modular. If you architect your products to be upgrade friendly, if you upgrade your you design your products around a software kind of mentality whe…”
Matt Grimm Nov 11, 2024 ▶ 31:28 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 bearish
Prediction Not checkable as stated
Grimm predicts many newly funded defense tech startups will implode
“Ultimately, I'm a little nervous about a lot of these companies kind of getting over their skis and then getting one or two fundraisers under them and then realizing it's a lot harder than it looks on paper and ultimately struggling and probably, probably impl…”
Matt Grimm Nov 11, 2024 ▶ 1:05:33 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 negative
Disclosure
Grimm: China personally sanctioned me for selling missiles to Taiwan
“I mean, I was personally sanctioned by China for selling missiles to Taiwan as was my co-founder, Brian Schimpf, and a couple other executives in the company itself.”
Matt Grimm Nov 11, 2024 ▶ 4:58 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 bullish
Opinion
Grimm: Anduril could not have built the business on half the capital
“I don't think I would say, oh, we could have done this on half as much money. No, not at all. I mean, if anything, I think we should raise more and go faster.”
Matt Grimm Nov 11, 2024 ▶ 53:17 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 bullish
Opinion
Grimm: Startups pitching as the 'Anduril of X' will lose to Anduril
“Well, you should know that the andrel of X is going to be andrel and that you're Your best bet is probably buying as many andrel shares as you can.”
Matt Grimm Nov 11, 2024 ▶ 1:05:54 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 neutral
Prediction Not checkable as stated
Grimm: Anduril will succeed regardless of whether Trump or Harris wins
“I think I think we were going to succeed under either, like we've succeeded under President Biden, we succeeded under President Trump before that, so I don't think I don't think there's a massive difference to Andrew.”
Matt Grimm Nov 11, 2024 ▶ 2:51 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024
Disclosure
Matt Grimm: Anduril allocates 60% to 70% of budget to R&D
“Oh no, no, no, no. It's like 60, 70%. It's a huge number.”
Matt Grimm Nov 11, 2024 ▶ 39:17 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 negative
Assertion Supported
Defense procurement takes 15 to 20 years from requirements to full deployment
“So it can be upwards of 15, 20 years to go from first requirements document to full fielding of a system.”
Matt Grimm Nov 11, 2024 ▶ 29:55 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 positive
Assertion Not checkable as stated
Grimm: Pentagon and UK MOD vision documents remain consistent across administrations
“There's like a slight misunderstanding that like, oh, the entirety of the Pentagon turns over every four years. It's just fundamentally not true. Same here in, in, in MOD Manon Whitehall. It doesn't turn over with every administration end to end. So I think th…”
Matt Grimm Nov 11, 2024 ▶ 16:49 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 positive
Disclosure
Anduril employee tender offer participation sits at roughly 30%
“Every time we've done one of these structured tenders we've had a relatively low participation rate in them. Somewhere in the like, 30% range of the percent of shares that could have been sold that were eligible to be sold.”
Matt Grimm Nov 11, 2024 ▶ 55:39 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 positive
Insight
Grimm: Venture funding allows defense startups to build hardware before selling
“The other angle we can take is we can just do it. And I think that this is part of our strength where we've raised Pretty good amount of venture capital money. We have incredible broad freedom on what we can do with that money. So like if we have an idea of a …”
Matt Grimm Nov 11, 2024 ▶ 18:23 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 bullish
Prediction Open · timeframe Nov 2029
Grimm: Anduril will become the sixth defense prime alongside incumbents
“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. I think it's going to be like, we're going to become the sixth prime alongside them and that there's still plenty, plenty, pl…”
Matt Grimm Nov 11, 2024 ▶ 34:46 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 negative
Disclosure
Grimm: Defense incumbents currently outperform Anduril at hardware logistics and fielding
“There's like a real kind of logistics and fielding piece there that to be honest as of today, they're better at than we are since we have a lot to learn there.”
Matt Grimm Nov 11, 2024 ▶ 41:02 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 bullish
Opinion
Grimm: Anduril is underpriced at its $14 billion valuation
“I don't think so. I think Andrel's underpriced today.”
Matt Grimm Nov 11, 2024 ▶ 1:24:26 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 negative
Disclosure
Anduril never provides financial or strategic disclosures to SPV brokers
“Andoril has never once ever approached an SPV broker and said, hey, here are detailed financials. Here's our detailed strategy. Let me avail our management team for different interviews or different kind of sessions.”
Matt Grimm Nov 11, 2024 ▶ 56:35 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 negative
Insight
Matt Grimm: Fully remote hardware companies are a contradiction in terms
“It's hard, basically impossible to run a hardware company in a fully remote capacity. It comes down to it. Somebody has to turn the wrench and build the thing. So like a full remote kind of hardware company is kind of a contradiction in terms.”
Matt Grimm Nov 11, 2024 ▶ 43:08 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024
Disclosure
Grimm: Almost All of Anduril's Acquisitions Were Bootstrapped
“Most of our acquisitions almost all of them have not been venture backed. They've been sort of bootstrapped and ground up started.”
Matt Grimm Nov 11, 2024 ▶ 1:10:31 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 positive
Disclosure
Matt Grimm: Anduril has explored potential collaboration with Helsing
“Oh, we love them. Like, good relationship with them. I hope they succeed. We've talked about, talked with them a couple times about potential collaborations.”
Matt Grimm Nov 11, 2024 ▶ 1:07:24 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 bullish
Insight
Grimm: Reaching $100B requires massive production of autonomous systems
“I think really what it takes and this is gonna sound kinda, kinda silly, kinda pithy is, is full scale production. Massive scale production of robot planes, robot subs, more drones, more missiles, more everything.”
Matt Grimm Nov 11, 2024 ▶ 1:24:58 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024
Disclosure
Grimm: Anduril's Lattice OS fuses sensor data for real-time battlefield view
“That's really what we're doing with our lattice operating system that's at the core of all of our products, is trying to bring together and fuse all of this different data that's coming from individual soldiers, from individual planes, from satellites, from su…”
Matt Grimm Nov 11, 2024 ▶ 14:25 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 11, 2024 negative
Prediction Open · timeframe Nov 2027
Grimm: Anduril will absolutely not hire to meet demographic quotas
“No, absolutely not. And anybody who tells you that they are, I think, like, I think is misguided.”
Matt Grimm Nov 11, 2024 ▶ 1:04:00 Matt Grimm, Co-Founder @Anduril: How a Trump Administration Changes the Defence Industry | E1224 · 20VC with Harry Stebbings
Nov 27, 2024 negative
Insight
Hommels: Defense primes resemble pharma giants focused on regulation over innovation
“The pharma industry, if you think about innovators, they are basically a gigantic organization if it comes to distribution and regulation, but not invention. So, a big prime as Moloch in distributing because they have I have years and years of lobbying into th…”
Klaus Hommels Nov 27, 2024 ▶ 41:44 Klaus Hommels: Why "Portfolios are Merely a Construct to Make LPs Happy"? | E1231 · 20VC with Harry Stebbings
May 1, 2025 bearish
Opinion
Grinda: Anduril products are extraordinarily high cost and not battle-tested
“Endural, and look, I'm an investor in Endural. The problem is their cost is extraordinarily high, and so the way you measure this is cost per kill, and they're not battle-tested.”
Fabrice Grinda May 1, 2025 ▶ 1:12:42 What Does it Take to Be Good at Series A and B Today? · 20VC with Harry Stebbings
Jun 12, 2025 positive
Assertion Supported
Stebbings: Founders Fund wrote record $1B check for Anduril's Series G
“Specifically with regards to Amgrills raising two and a half billion Series G, I don't know if you guys knew this, they got a billion from Founders Fund in this latest round. A billion again, making it their largest ever check, and the Founders Fund's prior la…”
Harry Stebbings Jun 12, 2025 ▶ 25:19 Elon’s Empire: SpaceX, Tesla, Neuralink After the Storm & Anduril’s $2.6BN Power Move · 20VC with Harry Stebbings
Jun 12, 2025 positive
Opinion
Lemkin: Founders Fund's $1B Anduril check shows superior conviction over standard AI growth deals
“They're putting a billion in, right? That's much more ambitious than throwing a growth fund throwing fifty million into the last round of Anthropic, right? Or throwing twenty million into Lovable. It's a big bet, right?”
Jason Lemkin Jun 12, 2025 ▶ 27:43 Elon’s Empire: SpaceX, Tesla, Neuralink After the Storm & Anduril’s $2.6BN Power Move · 20VC with Harry Stebbings
Sep 22, 2025 bullish
Assertion Supported
General Catalyst claims unique portfolio of US, European, and Indian defense primes
“I think we're the only firm that's invested in a defense prime in US, Europe, and India. We did Andrel, we did, you know, invested in Helsing, and we invested in a company called Rafi in India.”
Hemant Taneja Sep 22, 2025 ▶ 12:08 General Catalyst CEO, Hemant Taneja: Lessons Scaling GC to $40BN in AUM · 20VC with Harry Stebbings
Sep 22, 2025 bullish
Disclosure
Taneja: General Catalyst joined every funding round for Helsing and Anduril
“We invested in Helsing. You know, Jeanette has seeded that, if you remember before, and we've invested that in all the rounds that they've raised since then. If you look at Andrel, same thing. We seeded that, and we invested in every round that they've raised …”
Hemant Taneja Sep 22, 2025 ▶ 9:49 General Catalyst CEO, Hemant Taneja: Lessons Scaling GC to $40BN in AUM · 20VC with Harry Stebbings
Sep 22, 2025 bullish
Assertion Supported
Taneja: General Catalyst's best returns come from seeding and creating companies
“I mean, look, our best returns have come from seeding companies like Stripe and Andurl or Creating companies like Kayak and Livongo and Camille and others, and so.”
Hemant Taneja Sep 22, 2025 ▶ 8:08 General Catalyst CEO, Hemant Taneja: Lessons Scaling GC to $40BN in AUM · 20VC with Harry Stebbings
Oct 27, 2025 bullish
Opinion
Cahn: Anduril is clearly the US national champion in defense tech
“And in my view, Andrew is clearly the national champion in the U S and credit to that team, just really phenomenal company, phenomenal visionaries.”
David Cahn Oct 27, 2025 ▶ 1:05:32 Sequoia Partner, David Cahn on Who Wins in AI, Defence & The New $0–$100M Playbook · 20VC with Harry Stebbings
Oct 30, 2025 negative
Disclosure
Lemkin: Will not invest in Anduril or defense startups building weapons
“No one, not interested in the company personally, just personally at this point in life. I just want to do things I'm interested in to a fault, not interested in building weapons and stuff like that. Just not my vibe.”
Jason Lemkin Oct 30, 2025 ▶ 1:25:14 OpenAI Restructuring: Who Wins and Who Loses & Mercor Raises $350M at a $10BN Valuation · 20VC with Harry Stebbings
Dec 15, 2025 positive
Disclosure
a16z's growth fund backed Anduril when it only sold border towers
“We invested in Andrel you know, in the growth fund when they had one program of record and it was border towers.”
David George Dec 15, 2025 ▶ 46:22 a16z's David George on the Most Controversial Bet at a16z & Do Margins and Revenue Matter in AI? · 20VC with Harry Stebbings
Dec 22, 2025 positive
Assertion Supported
Stebbings: Founders Fund deployed $3B in under 12 months into mega-rounds
“Founders Fund, deploying three billion in under 12 months, but deploying it into Stripe, SpaceX, and Anduril.”
Harry Stebbings Dec 22, 2025 ▶ 17:13 Predictions for 2026: Top Buy & Biggest Short | Why Salesforce Could Win & NVIDIA’s Challenges · 20VC with Harry Stebbings
Mar 12, 2026
Assertion Supported
Stebbings: Founders Fund closing $6B in new capital after deploying $3.3B in 11 months
“Founders Fund are closing in on six billion dollars of new funds. They invested the last 3.3 in 11 months in amazing businesses like SpaceX and Stripe and Anduril.”
Harry Stebbings Mar 12, 2026 ▶ 50:17 Anthropic vs The Pentagon: Who Wins? | The Data Center Arms Race | The Ultimate Stock Picks · 20VC with Harry Stebbings
Mar 19, 2026 positive
Assertion Supported
O'Driscoll: $20B contract solidifies Anduril as a primary defense supplier
“They're basically saying, look, We've gone from trying you out in a lot of different areas to saying, okay, dammit, you're the dominant provider of this layer, so why don't we just systematize the contract? It kind of picks them as, it picks them as the clear …”
Rory O'Driscoll Mar 19, 2026 ▶ 32:47 NVIDIA Predicts $1TRN in Revenue: Everything You Need to Know From GTC & Anduril Lands $20B Contract · 20VC with Harry Stebbings
Mar 19, 2026 neutral
Assertion Contradicted
O'Driscoll: Anduril has only four or five customers total
“As a reminder, they have four or five, they only have four or five customers”
Rory O'Driscoll Mar 19, 2026 ▶ 31:09 NVIDIA Predicts $1TRN in Revenue: Everything You Need to Know From GTC & Anduril Lands $20B Contract · 20VC with Harry Stebbings
Mar 23, 2026
Insight
Steckman: Defense founders must defer ethical rules to democratically elected governments
“If you work in defense, and if you start a defense company, your moral compass tends to be pretty clear on this question, which is, we have a democratically elected set of governments that represent the US, the Alliance, NATO, all of the countries participatin…”
Matthew Steckman Mar 23, 2026 ▶ 35:46 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026
Disclosure
Steckman: Anduril spent over $100M developing Roadrunner before generating revenue
“So Roadrunner is a moderately sized air defense kinetic intercept system. And that's, you're over a hundred million easily before you're generating revenue.”
Matthew Steckman Mar 23, 2026 ▶ 48:43 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 positive
Assertion Not checkable as stated
Anduril halves traditional defense product development time to 3-5 years
“So in defense, typically in a traditional Sort of product curve at seven to 10 years. We're doing it in three to five, which is kind of part of the magic of the company, and the thing we've become known, known for with our customers is, like, you're effectivel…”
Matthew Steckman Mar 23, 2026 ▶ 48:03 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026
Disclosure
Steckman: Anduril operates 20 distinct P&L business units
“We have 20 different P&Ls at the company all that are going after different parts of the defense apparatus that take a lot of these fundamental Technologies that we build and kind of piece them together in different ways.”
Matthew Steckman Mar 23, 2026 ▶ 23:27 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 bullish
Prediction Not checkable as stated
Steckman: Anduril intends to target defense space market gap below SpaceX
“It's a huge open hole, I think, in the market that is something we definitely would run at.”
Matthew Steckman Mar 23, 2026 ▶ 43:36 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 bullish
Prediction Open · timeframe Mar 2028
Steckman: Anduril is a couple of years away from an IPO
“Still a couple of years out, but we're close. We're in the window.”
Matthew Steckman Mar 23, 2026 ▶ 47:03 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026
Disclosure
Anduril took 24 months from concept to fielding Roadrunner
“Roadrunner was, I think, 24 months from, like, a back of a napkin drawing to a fielded system.”
Matthew Steckman Mar 23, 2026 ▶ 48:25 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 negative
Opinion
Steckman: High Multiples Keep VC Defense Tech Startups Unaffordable for Anduril
“There are lots of VC companies I would love to buy if I had an unlimited checkbook, but right now the multiples today are, they put it out of reach for us.”
Matthew Steckman Mar 23, 2026 ▶ 40:23 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 negative
Insight
Steckman: A single large contract does not equal an enduring defense company
“I think there's in many cases an overestimation of addressable market, where like actually what ultimately they're going after is a very small sliver of a problem which Might materialize in a single large contract, but a single large contract is not an endurin…”
Matthew Steckman Mar 23, 2026 ▶ 8:22 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 positive
Assertion Supported
Steckman: Anduril builds cruise missile airframes like bathtubs using contract manufacturers
“The cruise missile we build, the actual airframe is built like you build a bathtub. And so we can take advantage of tons of contract manufacturers in the United States that can actually build a bathtub, right?”
Matthew Steckman Mar 23, 2026 ▶ 33:23 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 positive
Disclosure
Anduril's First Major Contract Was Defense-as-a-Service for US Special Forces
“And actually one of our first major contracts was with US special forces for all of their counter UAS systems. That started as an as a service contract where they weren't buying hardware. They weren't buying software. They were literally buying a service that …”
Matthew Steckman Mar 23, 2026 ▶ 14:01 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 negative
Assertion Not checkable as stated
Steckman: Legacy defense primes get paid to fix mistakes, unlike Anduril
“A lot of our competitors, the really big ones, if they make a mistake, They get paid to fix it. I think if we make a mistake, we lose money, and we lose contracts, so.”
Matthew Steckman Mar 23, 2026 ▶ 46:02 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026
Disclosure
Steckman: Only a quarter of Anduril's 20 products are cash-flow positive
“So I mentioned we have 20 products and only about a quarter of those are in any kind of rate production and throwing money back to the business. Everything else is in low rate or development, meaning they're losing money.”
Matthew Steckman Mar 23, 2026 ▶ 47:20 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 positive
Assertion Supported
Steckman: Anduril's leadership team remains unchanged since founding
“There's kind of some magic in the fact that it's the same leadership team today as it was when we started the company.”
Matthew Steckman Mar 23, 2026 ▶ 2:38 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026
Disclosure
Steckman: Anduril is developing missile systems targeted for 2035 deployment
“Where I'm building missile systems that might only field in 2035, right?”
Matthew Steckman Mar 23, 2026 ▶ 36:39 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 neutral
Disclosure
Steckman: Anduril is valued at 10 to 14 times forward revenue
“I think we're like, what? 10 or 14 X forward. Something like that.”
Matthew Steckman Mar 23, 2026 ▶ 41:37 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 positive
Opinion
Steckman: Palmer Luckey's brand is uniquely valuable for establishing trust in defense
“I do. Unequivocally. In defense, anything highly regulated, right? Every single thing is a headwind. And so the main thing you do to cut through headwind is you try and establish trust relationships with people who matter. I think Palmer is an N of one when it…”
Matthew Steckman Mar 23, 2026 ▶ 56:09 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 neutral
Assertion Supported
Steckman: Anduril's $20B government contract contains no upfront obligated funds
“Think about this as like a credit card limit. So the government has said up to twenty billion dollars they can spend on a class of Andurl's commercial technology. There's no obligated money”
Matthew Steckman Mar 23, 2026 ▶ 10:33 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 negative
Disclosure
Steckman: Anduril spent up to $40M on a failed early aerial project
“We tried to early on build a pretty sophisticated aerial system. We didn't have the core building blocks. We didn't have the core team. I think we were twenty million or forty million in before we kind of realized that it was a scrap.”
Matthew Steckman Mar 23, 2026 ▶ 49:43 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026
Insight
Steckman: Government contract success relies on finding a single internal champion
“All of these things can be characterized by Like a singular champion on the other side of the table that gets it, that believes in it, that wants to shepherd it. Actually you mentioned Shyam. He talks a lot about this kind of like heroism. Like it actually com…”
Matthew Steckman Mar 23, 2026 ▶ 27:50 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 negative
Insight
Steckman: Tech hubris leads defense startups to reinvent existing solutions
“There's too much hubris, I think, in the technology market that you know, as high tech people, we can do everything better than everybody else. I think that causes some companies to think they have an idea that isn't actually an idea because it already exists,…”
Matthew Steckman Mar 23, 2026 ▶ 7:23 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 positive
Disclosure
Anduril Supplies Key Air Defense Systems Countering Shahed Drones
“We're one of the principal systems to defend against that threat in the Middle East.”
Matthew Steckman Mar 23, 2026 ▶ 39:05 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 bullish
Prediction Not checkable as stated
Steckman: Autonomous systems will eventually replace every single military mission
“I believe that that is true in the long run. I also believe that we're not even close to where a lot of people think we are on it. Like I think we're still in the early days on, on tons of this tech. But as time goes to infinity, like absolutely every single m…”
Matthew Steckman Mar 23, 2026 ▶ 52:30 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026 positive
Disclosure
Steckman: Anduril maintains 40% plus gross margin across its portfolio
“As a business, we run a sort of 40% plus gross margin across the board.”
Matthew Steckman Mar 23, 2026 ▶ 34:25 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 23, 2026
What-if
Steckman: Anduril missed offensive cyber warfare seven years ago but will enter
“We should have moved into that seven years ago and been the first in it. We weren't big enough probably to really even understand it seven years ago, but like in hindsight, it was kind of obvious. You know, we'll, we'll probably try and play some catch up here…”
Matthew Steckman Mar 23, 2026 ▶ 17:45 99% of Drone Companies Will Die & Why Anduril’s Products Aren’t an Ethics Debate | Matthew Steckman · 20VC with Harry Stebbings
Mar 30, 2026 negative
Disclosure
Andreessen: a16z passed on Anduril Series A out of political fear
“The most straightforward example is the deal we didn't do, we should have done, is the Andrewle Series A right, which was like, which was just, like, sort of obvious that it was gonna be special, and, you know, Palmer, we had worked with Palmer at Oculus, and …”
Marc Andreessen Mar 30, 2026 ▶ 1:12:30 Marc Andreessen: Will a16z Go Public & Why Labour Displacement with AI is Wrong? · 20VC with Harry Stebbings
Apr 18, 2026 positive
Prediction Not checkable as stated
Jake Paul: Anduril's Autonomous Technology Will Reduce Human Casualties
“Yeah, maybe less people will actually die because of their technology.”
Jake Paul Apr 18, 2026 ▶ 41:58 Jake Paul: Traditional VC is Toast & Attention is More Valuable than Cash · 20VC with Harry Stebbings
May 30, 2026 positive
Opinion
Laqua: Anduril and Anthropic are philosophically distinct yet both potential winners
“You know, a metaphysical level, there's a really big difference between Andrel and like Anthropic, right? Those are like super different companies. And I think both of those could be good companies.”
Nico Laqua May 30, 2026 ▶ 51:28 The Hardest Working Startup in America | Nico Laqua, Co-founder & CEO @ Corgi · 20VC with Harry Stebbings
Aug 27, 2026 bearish
Prediction Not checkable as stated
O'Driscoll: Defense tech venture returns will suffer from market consolidation
“I think an area where, despite it being amazing for America and important for the world, I think the venture returns of the March might be tough will be defense, not because we don't need all these products, but because I think there's an element of that busin…”
Rory O'Driscoll Aug 27, 2026 ▶ 1:20:52 Anthropic's $30T Assumption & OpenAI Confirms IPO | Why Customer Service & Robotics are Overinflated
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