defense technology

“What you're gonna fight with in two years is not what you're gonna fight with in a year, and it's not what you'd use today.”

“You have a thousand euro drone that takes us a ten million tank. You have a 500,000 submarine, yeah, unmanned, which can take out a five hundred million The submarine, the classical one, and the same for basically every category.”

“I don't think defense is a category. And you're like, what? A category is enough that can support an ecosystem with its breadth and depth. I don't think defense is. I think there is your andrills and maybe two to three more in the U.S., and I think there's, yo…”

“We're like one percent there on catching up. Like we're actually so, so early in this defense cycle because, you know, now we have a few dozen companies, maybe a hundred companies that have sort of new innovations. They're not integrated into the force structu…”

“I mean, my objective, I probably invested in a dozen AI companies in my career. I hope to invest in 20 more. My objective is not to invest in 20 more defense companies throughout my career. I think it's going to be a very small handful of companies. Maybe we'l…”

“And I guess my framework, and this is the thesis that I've been investing behind now for the last couple of years is my framework is there are going to be fewer companies that succeed in defense for this reason. Defense is consolidated for good reason. There's…”

“So in every technology class in defense, there's probably one, sometimes two actual programs that if you capture them, you have a business. And if you don't, you have no business.”