The Ledger, every show

“I think what we end up seeing is we end up seeing the, ah, ultimately kind of the near and total sort of conquering of Gaza,”

“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…”

“My guess is that and it's a complete conjecture here. I have no insider information whatsoever, but my guess is that we see some sort of detente or some sort of negotiated settlement take place probably over the next year would be my guess. And if I had to bet…”

“No, absolutely not. And anybody who tells you that they are, I think, like, I think is misguided.”

“The US right now does not have the production capacity, nor does the UK, nor does Australia, kind of the West at large, to make enough munitions to fully equip a prolonged nation on nation conflict.”

“I, Think that if America does its job and the West and our allies do their jobs, I think no.”

“Like last year alone, Lockheed Martin, the twenty-twenty-three numbers, Lockheed Martin spent six billion dollars on stock buybacks. They only spent 1.5 billion dollars on IRAD, which is called internal R&D. Their own at risk funding of research and developmen…”

“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…”

“We're already seeing the early results at the TSMC plant in Arizona that has some pretty good yields that are Slightly outperforming the yields of their Taiwan factories.”

“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…”

“Northrop Grumman over the last 15 years has had a total compounded annual shareholder return of just over 20%. Lockheed and Boeing are just behind them at about 15%. The S&P 500 over the exact same time period has an 11.6% total compounded annual return.”

“And in fact, a few of them have come out in their recent annual reports and quarterly calls and whatnot and said that they're walking away from cost plus, or from firm fixed contracts. They won't do firm fixed contracts anymore. It's too risky for them.”

“This Iranian Shahid missile it's one of the missiles they mostly use goes pretty slow. It's just a drone. They can make it for in the neighborhood of fifty-ish thousand dollars.”

“And now they're currently being manufactured in our Sydney manufacturing facility that just opened. It's about 75,000 square feet and is capable of making dozens of these a year.”

“And now they are currently being manufactured in our Sydney manufacturing facility that just opened. It's about 75,000 square feet and is capable of making dozens of these a year.”

“We're partnered with Palantir on the Titan program for bringing their software onto our kind of hardware for this joint program with the army.”

“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.”

“So it can be upwards of 15, 20 years to go from first requirements document to full fielding of a system.”

“Short of debt, it would be about four billion. With debt, it'd be about five billion.”

“We're about, I think, like, 18%, 20%, something like that.”

“Robot on robot warfare, I think is pretty likely.”

“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.”

“So we're now just about 7000 employees. Got about 34, 35 offices around the world. Depends how you count a little bit of different buildings on the same campus, but thereabouts and are really off to the races scaling, especially on the production side as we la…”

“Palmer is our founder, and he is the guy who has really a lot of the, like, innovative drive behind what drives us as a company. So new product ideas, new kind of what is in the business is called ConOps. It means, like, how will they use this product? How doe…”

“Trey obviously leads our investor relations, and he brings a tremendous amount of expertise there, and then this doesn't get appreciated in public enough, but he also runs our marketing and our design teams internally, so he has that kind of Drive behind our p…”

“Yeah, and we're partnered with Palantir on the Titan program for bringing their software onto our kind of hardware for this joint program with the Army.”

“So like the whole notion of the IVAS program that we acquired from the Microsoft spin out. It's now called I don't know what they called it now.”

“In 2024 alone, US is spending about eight hundred and eighty billion on defense. The UK spending about seventy three billion more. The EU member countries are spending almost three hundred billion on top of that. Australia spending forty five billion on top of…”

“I guarantee at the end of this, I'm going to listen to this interview no less than four times making notes of different tacks I could have taken or different points I should have made or different arguments I could have gone down.”