The Ledger, every show

“I thought that it would be more humbling for more people I think that there's been this sort of, like, suspension of criticism. Like, people are desperately trying to avoid having to come to grips with what they did, basically, like, with what a lot of people …”

“So in Ukraine, there was this, I think it was called Operation Spiderweb, where, ah, Ukraine snuck basically like under false floorboards of a truck. They snuck a million dollars of worth of drones into Russian territory. And then the drones basically took fli…”

“If we were to engage in a large scale conflict, I think it's something like 11 days. Like, we would run out of munitions in 11 days.”

“We have been effectively losing war games when they model the scenario of US versus China since, I think like, 2015. We have been, the US loses those war games.”

“Half of our naval fleet could be destroyed within the first couple months of a large-scale conflict with China, and it would take us 25 years to rebuild just to get back to where we were. So our shipbuilding capacity doesn't exist.”

“You look at a conflict over Taiwan, I think people say could be a 10 trillion dollar hit to the global economy. Like bigger than the financial crisis, COVID, anything. I think in some cases combined.”

“Index, as far as I know, still to this day, has a clause where they can't invest in anything that is a weapon or could be used as a weapon, and I remember they had investments in, in companies like a drone company, where they uniquely could have contracted a p…”

“Statistically, there are more people in the Bay Area building companies in a specific, within a specific playbook that have specific expectations and shorthands and heuristics that are more likely to lead to success for a company. And so I can simultaneously b…”

“Like there are economic models that are going to crumble under the pressure of the market that we're going into now.”

“So maybe it took multiple decades for a firm to die in the sixties and seventies and whatever eighties, maybe it took it, maybe it's taking a decade, you know, nowadays or last few years, I think that that pace is going to increase. Like information gets disse…”

“I think it's one of the reasons why you know, anybody with a Reasonably sized Twitter following probably gets a at least job interest, if not a job offer from Andreessen, right? Like they recognize that sort of micro celebrity appeal of being able to hire anyb…”

“I don't think that people are just going to say, oh, nevermind. Venture is actually not that great of an asset class, you know, back to bonds and real estate. Like, I think that people recognize that there are still large outcomes to be had here. And so there'…”

“The Chinese have developed missiles that they affectionately refer to as carrier killers, that literally it's, I mean, these still might be fairly expensive missiles, right, these are 15, twenty million dollar missiles, But they can destroy a multi-billion dol…”

“Today it is sub one percent of global R&D.”

“And then a year ago Microsoft basically admitted defeat to some extent, and the government said, we're going to recompete the contract, and Anduril first as a potential partner to Microsoft, and then eventually took over a twenty-two billion dollar IVAS contra…”

“Like several people are working on that, including Anduril, much to the surprise, I don't know if you have heard this story, but there was a story of Palmer talking about subterranean warfare, and the marketing person at Anduril was there, it was like, to the …”

“There's not going to be 30 new defense primes. There's probably going to be a very small handful of companies that can check all the boxes you need to be able to do that. Obviously, I think Android can be one of them, and there's maybe a few others”

“I think that you're going to see a lot of dilution in the value and quality of those scout networks progressively over time.”

“And like you have projects that should have cost 13, fifteen billion dollars that are upwards could cost a trillion dollars, like the F-thirty-five program, right? It's like dramatic overages.”

“Ukraine was like the military industrial complex in production where it's like they're live testing stuff. Way more rapidly, even than, like, even the US at its best, even China or wherever. In Ukraine, it's just, we try something and we immediately field it, …”

“Where the military, you know, where the military is trying to acquire things built to spec, the goal of Anduril is to acquire things built to mission, right, so they fund their own R&D, they put their own money up, rather than asking the government for R&D dol…”

“Palmer says that Anduril has had products on the ground in Ukraine basically since day one. They were over there pretty quickly, you know, deploying assets and stuff like that.”

“Any time a rising power threatens a established power, it ends in large conflict, great power conflict, and when you look throughout history, there are 16 instances where that happened. Of those 16, 12 of them resulted in mass scale conflict”

“How many of them have scaled to over a billion dollars of revenue, like 203 hundred or something, right? Like it's a tiny fraction of companies that have truly gotten to that massive Scale.”

“In their very first pitch deck, he said, we are going to make billions of dollars by saving the government tens of billions of dollars of revenue and of costs.”

“During the cold war in the fifties and sixties, the DoD alone represented 36% of global R&D.”

“And like their first customer, if I remember correctly, it wasn't even the government. It was a private like ranch owner who wanted to monitor because there was like drug traffickers coming across his land.”

“Their first product they ever built and prototyped was? It was called Century, but it wasn't the tower. It was a autonomous firefighting tank that would roll into a forest fire and could deploy, like, fire suppression”

“I think five of the first 50 employees at ramp came from contrary, a lot of the people at retool, a lot of the people and roll.”

“The U.S. Was like, 40 plus percent of manufacturing capacity globally.”

“While he was in high school, he volunteered at a lab where they were basically doing research around how to use virtual reality to help soldiers deal with PTSD.”