McIntosh: SpaceX and Anduril vertically integrate by necessity, not strategy
Ryan McEntush · AI Is Coming For These 3 Industries In 2026 (a16z Big Ideas) · Dec 26, 2025 · at 1:43
Ryan McIntosh, an investing partner at a16z, discusses why fast-moving US defense and aerospace hardware pioneers are forced to vertically integrate compared to Chinese competitors.
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“In many ways, they're vertically integrating by necessity, not strategy. There just isn't an ecosystem of companies that can scale with them.”
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