Delian Asparouhov on the DOD budget freeze, slop in defense investing, and Varda's factory growth

going to do this yeah totally well we got Delan in the house welcome to the Temple of Technology he's back how you doing oh yeah Delta V and I heard today was the day where we were all supposed to call him from the factory floor so I oh yeah around I like it it's a beautiful background proof of work work nothing in the background is itar control that one place so unfortunately it's the least interesting view of the factory we got a nice logo back there it's great exactly uh I was just given a little bit of a history of kind of how we got here in the evolution of Defense Tech um can you walk me through kind of like I literally just ended it like 2020 how have you experienced it how would you explain to someone that's kind of just like generally aware of venture like how did we get to this particular mix of firms and companies and strategies in defense Tech investing yeah um I'll a funny analogy uh to describe the various generations of Defense Tech and how it's evolved over time if you look at the basically 203 through 2015 call time period in order to start a successful company and like defense Aerospace thing that basically worked with the government um you both had to be a billionaire co-founder and you had to be willing to sue the US government in order to uh you know have any success and so you know both SpaceX and paler in the 2010 through 12 time period basically to sue uh the government in order to win contracts 2015 to call it roughly 2019 we're gonna Sue our customers uh The Playbook is like we're going to sue our only customer that doesn't apply anywhere else you don't hear about like oh yeah like the you you know this this SAS company had to sue Nike to get them to use their SAS products we really want to we really want ramp to sponsor us we're going to we're sue them yeah exactly exactly and so it gives you a sense of like how difficult it was the only people that could afford to sue their customers and still be alive as a business and like you know get to the other side of it we're literally billionaires right you had to be a billionaire you had to be willing to sue your customer and then in uh you so 2015 through 2020 at that point you no longer have to be a billionaire and see your customers you can at that point just be a billionaire so it's still like very hard you no longer tossue them and so then you know Palmer lucky you know sort of starts and roll and then you know call it from 2020 to 2022 my one liner is like now we're finally standing on the shoulders of giants these guys have broken down the barriers the dod and you know General the US government is ready to work with you know startups and so you no longer have to be a billionaire suing the government you no longer have to be a billionaire at this point you can just be friends with the billionaire and that's sort of close enough to you know having the appropriate level of power and wealth to be able to do that and so people like me uh who are just you know merely uh lowly friends and billionaires are finally able to start companies and now in 2022 people extrapolated that Trend all the way down they're like you know billionaires that sue the government now it's billionaires now it's friends of billionaires let's take the logical leap and high scho students can now start defense companies that raise you know1 million that's obviously a logical conclusion of that Trend yeah uh what what do you right now it seems like every every investor that's online is like yeah I do defense yeah yeah you know I dabble I dabble dable I'm I'm a patriot right but but is that still the case where the average VC in 10 years is like yeah I do defense or is it the average VC is like yeah I kind of you know fomo in in like 2023 got over and I'm back toing just skiing skiing and AI they're back to skiing they're back to just skiing not being over their skis on the defensive yeah I I think I think I heard you guys talk about this when I you know s of hopped on but um you back when andal started in the you 2017 time period a significant amount of the investors that now all talk about defense literally had it in their LPA of you know the three things that they weren't allowed to invest into was gambling horn and defense and it was like put as one of those top three effectively like was in like the vice CLA yeah um I think it's pretty likely that you know over the next decade some of those LPA end up going back to having defense in the vice claw um you know and all these people that you know YOLO in their LPS are like [ __ ] off like we don't want you doing this again you were clearly terrible that you had no idea what you're doing we're just putting it like back in the vice clause and so no investing your port in defense as far as we're concerned they're the same thing like leave that to only fans and Fab fun to figure that out that's great uh I well I the reason I wanted to have you on mostly was uh to kind of restate and restart the debate around the continuing resolution uh we put out a clip from you we got a lot of text messages I got a couple essays delivered to me uh a lot of chat GPT stuff come in my way can't say I read it all but uh I I I said I will ask Delian about it again next week so can you restate your thesis on what's going on with the continuing resolution and just the overall DOD budget and what it means for defense tech companies and then what's been the push back what's what have the good responses been and what has been like the cope yeah what's funny is like I see so much of it is like pure copium like if you look at the people that are closing the biggest you defense contracts you know Tim Hughes it you sort of space act uh you know Matt Grim Trey Stevens Etc that whole crew at you know androll you know sham sanra paler somehow none of those people um you critiqued you know sort of my framing of it I admit my tweet was a little more pippy but it was funny seeing some of the critiques were like you just didn't watch the clip like yes my tweet was like an attempted summary of it I basically like you know was a bit hyperbolic and saying that there are no net new starts there are going to be some that are potentially allowed but it all still P you know it needs to be um uh paralleled to the original basically you know Cong Congressional um you know and House and Senate you know sort of bills that were passed in you sort of late February so you know some of the critiques came in from some of these I think more Junior companies that have a little bit you know sort of rosecolor glasses on how they think this process is going to go in that yes it points to you know allowing that type of reprogramming and at the same time you're seeing like in a continuing resolution year going win the f47 contract and so I think they have this view of like oh man you know Now's the Time where I can like you know all the rules are scrapped we can totally you know go reprogram everything and I'm like there is some flexibility there but also like look at what happens when people get a little over their skis like one of the topics that I sent you kugan was like around the nas administrator it's obviously more on the Civil space side than defense side but like you know Elon tweeted out like you know basally FBI s we should deorbit it you know I don't want that up in space anymore that shouldn't be a NASA priority and like yeah he got his like you know sort of wrist SL a little bit he also got his wrist lapped when he like went to the Secretary of the Air Force then two hours later you know the f47 you know basic contract on announce even though elon's been on this Rampage against it was s human raid fighter guts for a long time so it's like look like even Elon isn't able to convince the air force that we would shouldn't have human rating fighter jets like you think your [ __ ] thing that's like a mediocre copycat ofand Ral is somehow going to that they should spend like you know money on your [ __ ] Ponzi coin like probably not like I think there's a lot of copium that's going on there so it's like people were like trying to site these like super it's like look I read the CR like I know the section that's in there what matters is not like the exact legal lease that is in the continual resolution it's like how that's going to be interpreted both by the warf fighter and by like Congress that timately is gonna you know sort of go you know uh approve like you know sort of reprogramming and then the you know um um you know budget uh you know reconciliation you know sort of you know bills so anyways uh more that I can go into there but it was like lots of copium and all the sophisticated players didn't say anything do you think uh that there's a lot going to be a lot of like sort of potentially wasted talent coming out of this era of Defense investing where people want to be Founders so bad but they would actually be potentially much more successful going into Ander Ral and like working on a specific product and and just leveraging you know the entire platform that they've built and you know the the sales Channel everything like that and the sort of like Silicon Valley ethos of like everybody's like aspiring to be a Founder uh you know because I think probably at least the three of us and many other people like the the Ander roll of Ander roll is Ander roll is sort of like you know uh uh probably gonna play out right um I will probably be andrel rather than a different company you know yeah but uh but yeah do do you see except for and roll of bears I think bear domestication is very important and I think that is a white space that and's weak on and so we're announcing kogan's new incubation yes ready to go co- founding with some Ries yes those guys know how to handle their Bears we're domesticating bears and you're GNA be able to ride them like horses and we'll also make small ones and they'll be like teddy bears for your kids it'll be great yeah um you know Keith used to always talk about how one of the things I thought like I learned from him was that some of the best companies are actually founded and some of these more like recessionary periods where it's not hot to be a Founder that it's like a lot easier to aggate Talent like I think about that even you said with v today like I'm very glad that we put together our founding team in 2020 because a bunch of those people in theory today if we were like trying to put together the founding team would just like refuse to be on the founding team inste split up at all rais their own pieces of capital and so it's like I I would imagine that it's like incredibly hard to be an early stage founder today trying to recruit super talented people because the super talented even like 22y old San FR kids are getting like 10 million thrown at them like the current like ped seed ecosystem for all things like Frontier tag AI Etc is like in such a crazy double right now um and that actually just makes it really hard for generational companies to be found it like a part of why anderol almost certainly was successful like everybody that like ched to go work at anderol from 2017 to 2022 before the called the Ukraine war was like choosing a very contrarian field to work on nobody else was going to be go funding those people to be you starting companies anytime soon and so they aggregated a bunch of talent where it's like okay yeah now defense is hot but Ander is already off into the races we were talking about this with like the Year Facebook came out of Harvard like I think it was the one of the only startups and so if you were like I want to work at a startup and you went to Stanford or Harvard it was like well Facebook's kind of the only game in town and now it's like you w just take a taxi or take an Uber over to San Hill Road and you got $10 million like next week well the other thing is is we've been trained for 20 years this sort of like dream big yep you know call your shot I'm going to build this amazing CRM and then you can like put together a te team and you can build the amazing CRM but the thing in hardtech the challenge is like you run into like physics and you run into all these challenges where it's like you're trying to make some new Quantum Computing chip and it's like okay like you can have the big idea and that doesn't and you can put together a lot of capital and people and work really hard on it and like you're not always going to get there whereas software at least you can ship the product it might not work dude this feels like it's like literally like you describe my Edge basically in like the investing in this sphere where it's like look I think there's a amount of like I'm decent at the found read macro whatever a bunch of people can do that the one thing that I do that I think is like relatively unique is like for all of my category Investments that sit in the world of like Hardware difficult thing that they're doing Etc I just I Walk the Line I like you know go and I talk to like the technician doing assembly I talk to the thermal engineer doing the thermal model I talk to like you mechanisms engineer structures engineer software engineer firmware Etc and just like you can you know I'm not saying that I'm a world class engineer in all of those categories or anything like that but I have enough of a surface level understanding from the work that we do here I can kind of gauge like this person like the Quality Bar and like you know doesn't have to be that like literally everybody you C there is but if like half the people are looking kind of like Schmucks it's like well you can only like you know sell a story for so long at some point you have to like deliver Hardware to customer that works and so it's been fascinating to me to watch investors honing up like hundred plus million dollars to companies that are like consistently having Hardware fail out in the field where it's like what do you think is going to happen here like you know if you've given them $50 million and the hardware is failing non-stop $100 million isn't necessar going to be the thing that sof the problem like they've already got culture all rot to the level that it's like basically going to be impossible to backtrack but there's so many people that like just don't even have the capability to diligence that and you know I'm not you know I think sometimes I admit that I can over rotate like you know you know I'm probably on like when I think about amount that iwait product engineering relative to like you know our CEO Peter right he's obviously probably more on the opposite end of like you know thinks that people over rotate on that and I probably am one of the people that sometimes does but in this field it's definitely I think saved us some from some you know sort of Investments where like you know we debated making a series a investment and then you watch the companies it's like they have like six projects in a row fail now people are for some reason rescuing those companies and still ging them 100 million bucks but like at some point I'm like how long does that go for I was lit texting with our colleague John Luda yesterday I was was like he was like texting me these like three or four companies like the SC like crazy like it must like doing really well right and I'm like no like every satellite that they've sent up is failing they haven't closed any contracts like I don't see any Pastor program of record like they're scaling like they're really good at hiring but like you know but like not necessarily good people so like hiring bad people is not a like somehow people like use headcount scale as a proxy for like Su sex in the company like I don't know that that's like a thing one should be focused on so yeah I think there's gonna be some tough reconciliation that happens you know over the course of the next year or two where it's like there's G to be like you know 50 to 60% of this field it's just gonna have to die off or get acquired for pendings on a dollar yeah the other the other thing that's funny people love to roast like Market Maps right like the joke is like all right if there's a market map you're too late but then the market Maps like actually provide like if you're an investor you should really understand the market that you're investing in so that when a company comes to you and you think it's a smart team and you're excited about it you actually understand like okay is there a a a two times better team that's like doing this exact thing the other thing is like I I I I've seen uh you know I've made a number of I think smart investments in the space and I'm sure like just sort of hard tech broadly and I'm sure like some that will Zero out but I I try to pay attention to like you you really have to penion it it's not all about like oh a tier one is doing this it's like is somebody that's been doing robotics investing for 20 years and has like is on their seventh fund are they doing this because they've seen it all right and you have to ask yourself if this investor like why do I have the right to even have an allocation in this company and and a lot of times if you're coming into this space and you're making some of those net new Investments that company has been seen by all the specialists and like not like happened and so like you're now getting like the the sort of luck of getting to take a shot on this company when like a bunch of people that have invested in other similar winners have already said yeah it's not for us or like you know we're going to wait and see kind of what happens um so anyway uh can we move on to the signis spacecraft can you break down I I'd never even heard this word term before can you give me a little bit of history and then what's going on with the news yeah I mean I brought because I think it was like two weeks ago that we chatted about like the you know astronauts being stranded and then you know sort of SpaceX going to you know bring them back down um this past week it was revealed that the signus spacecraft which is a spacecraft I'm pretty sure made by North Grumman um that originally was awarded basically commercial uh cargo contract the isap this was like back in like 2010 11 it was basically you had cargo Dragon which was done by SpaceX and then the sign spacecraft done by northr grummond um to basically deliver cargo like food water Etc to the international uh space station it generally performed you know decently well it's kind of a crazy vehicle and that it's only one time use like it doesn't even have like a shield or any way to like come back to it so you literally like ship it up the ice assd docks dropped off its things and then it just like burns up in orbit so it's like the epitome of just old school you know sort of Aerospace um they didn't even like attempt to make it economical from the like fundamental design phase but like it's you know delivered plenty of cargo to the ISS at this point um this past week um they dropped it um and so NASA was like look like yes this has been tested Etc but like we don't know what happened in the drop we need to basically send this thing back and run through a full testing campaign and make sure that it's okay and so that means that that cargo that previously supposed to be delivered to the isasia north north of grman now is yet again going over to SpaceX so it's just like one of these moments where it's like if SpaceX did not exist right now like the United States would neither have like Boeing able to take crew to the ISS nor would it have north of Grumman able to take you know basically cargo to the ISS and so it's like you know without SpaceX the astronauts would not only be stranded but also starving what do you mean by dropped they dropped it does that mean dropped the program physically dropped no no no they like physically dropped it like the spacecraft like like fell fell fell it just fell yeah had an accident like you're not supposed to little oops little oopsy in the like how much like you know the pulley could hold and they [ __ ] dropped it I hope we're is there like security camera footage we can find somehow like is gonna try and control that real tight and avoid anybody we got to call our friends over at the CIA NSA the Deep State you know really get them to to Fork that over we need the blooper real we've seen the SpaceX crashes I need to see the Pod dropping and crashing we uh you know we drop our spacecraft but you know we do it on purpose right that was the one that we dropped from space back down to the ground but that was on purpose wow I have not been to vaa HQ recently it looks like you have a lot more equipment that is filling up congratulations where are packed in like sardines we've got you that's the one that I just showed you is the first one that landed last year second one landed in Australia two weeks ago and it's out at an air show third one's currently up and over but fourth and fifth are off to the side of me right now so yeah this place is uh you know turning into an operation yeah real operation you have a followup I have another one after go for it I I I want to cover in the maybe the last five minutes uh like slop as a trend oh yeah that' be fun generally but yeah let's close out with the space stuff and then we'll go on that uh I want to know more about uh Jerick isaacman uh momentum seems to be building for Jared isman to become NASA administrator what are the Dynamics what should we be reading into this RFK got confed firmed is it a similar process like and what does this mean like what's the vibe around him generally yeah I mean Jared is definitely like really beloved by the space Community you know ourselves included like it's really awesome to have somebody that is go a phenomenal for doing our right shift for payments you know sort of Mega company but then also it's like putting his own capital and literally life on the line by like paying for his own you know basically space missions with SpaceX and then he the first private astronaut to ever do a space walk I don't know if you guys saw that you know live stream from I'm forgetting the exact time but it's like sometime that was him Jared no way like literally like he's the first private citizen to like [ __ ] go out into the vacuum space and like PE outside of theace live streaming so we could run exactly exactly so you know hopefully get one day exactly okay super legit you know what I mean like he is literally you know a like like privately himself sponsored after not you know putting his real like life on the line that mission could have gone poorly could have died on it Etc and obviously you didn't to really loved um but he like Affiliated you know for sure with Elon since like you know his entire Polaris you know sort of uh set of missions was all contracted with SpaceX he obvious has done a ton of press with Elon Etc um so when Elon made this you know sort of comment around wanting to basically uh deorbit the ISS sooner than the original plan so the current plan is BAS the end of the decade Elon was pushing for like let's just deorbit it next year now I assume from his perspective it's you know hey I don't really see the value of this program we should use that budget for you know sort of pushing straight to Mars um you know what's the point of you know sort of these like human rated stations both run by the government or these private ones um and there was a bit of a slap on the wrist you know for that via you basically Ted Cruz um you know sort of the senator from Texas that is the you know senior chair of the house sorry the Senate science committee which basically controls the NASA budget and is also you basically responsible for you know sort of voting and um confirming the schedule for the NASA Min confirmation basically stalled right like he refused to actually set a date for the NASA administrator so now you've had to see like a bunch of Governors you know and other Senators basically say hey Cruz we really like Jared isin a bunch of stat Ur have like you to send Cruz letter he's finally relented and okay said fine I will set a date but I want Jared isaacman you know sort of coming out and explicitly saying that he's in support of the ISS going through the end of the decade in support of these commercial space stations and so why is you know sort of Cru in support of that it's because you know the Johnson Space Center which is where the vast majority of the like terrestrial jobs that support the space station are is in you know Texas and it's it's you his constituent and so you know you're starting to just see these tensions of like you look yeah you've got like Tech's greatest leaders at like the Helm of the government but that doesn't mean that there's going to be some like not going to be some antibodies that like you know prevent people from getting exactly you know sort of what they want done and so this is all more like the Civil space side of things but I think has a lot of parallels to what everybody's thinking about in defense where it's like look again GNA point out it's like you know Elan is phenomenally successful super powerful Rich Etc but like there are you know antibodies and balances of power built into the US government and like Ted Cruz is clearly you know showing that he can like swing his dick around a little bit and say like yeah like you know you want to [ __ ] with my ISS like I'm gonna [ __ ] with your administrator and you know I'm gonna delay his confirmation hearing and I'm gonna bump it out until like it sounds like it might not be until like May at this point and then that does have like a real operational effect in NASA where it's just like look like you know there's like this NASA reauthorization bill which basically sets NASA's budget for the next like you know sort of you know five to seven years that's kind of stalled out because there's no administrator you know none of the like major you know sort of program leads are making huge swings right now while they're waiting for the administrator so it's like NASA's kind of Frozen right and this has like Downstream operational effects this may slow down our ability to like get more lunar missions you know sort of book actually figure out what the mar program you know sort of looks like and so it's just like a reminder to people that like you know us and Tech have to always remember that like there are also jobs that Senator Cruz is going to be you you know making sure to stick around too uh follow up I mean the ISS budget is uh 3 billion a year crazy idea we get a couple of our buddies together make it into a casino or something like could not privatize this thing you know Jed MB Mr crypto uh you know sort of man is trying to you know put you know crypto money to use and turn into a state space station and I kind of see crypto in my opinion is basically just gambling so you know he's basically already making it you know he's you know all he needs to do is you know maybe it's not crafts tables but it's uh you know a couple coinbase servers up there that are uh you know getting you hooked right into the you know s live stream of trading [ __ ] coins I guess you can't really roll dice in zero g because the dice never fall well yeah dice never if aliens are ever going to come and assimilate on Earth we should have a like a a space Casino where they could kind of like learn the American way of life here because if the culture shock if they came here and they they have know to gamate for sure they would just like probably kill us all you guys like I don't even know what you guys are doing or that's our planetary defense we just get the aliens hooked on gambling they become toal degenerates they're mortgaging their home planet in order to be able to it and we're like actually you thought you were coming to conquer us Spar we're sending our bookies back over your break all your kneecaps and take it so you know that's maybe the best planetary defense game who needs aspirate deflection you've got space casinos yeah we got five minutes what you got big uh what's your take on yesterday I I was joking uh around earlier I said in hindsight Sputnik really was the gibl moment of the Cold War but yesterday felt like a big moment uh it just I I did John and I had a couple posts go pretty viral and break containment and people still were quoting them and being like all right guys like stop joking around with me like who's got the filter app so it still feels like there's people out there that they didn't know that it was open AI like chbt they were just like oh there must be a new app out there that does this and uh yeah what's your reaction are you long I I I'm personally I'm short the word slop but I'm long the underlying Trend but I'd love to hear your take uh you know I want to relate it back to defense which is you know sort of markup maps are no good focus on a longtail winner is there's like a whole [ __ ] set of like a hundred like AI image generation companies that all just got you know [ __ ] sherlocked by open Ai and are going to be totally relevant because like they've got the biggest brand and know they have the best technology good luck catching up when you're like you know sort of losing on both angles um I think you're going to see this stuff get implemented into Hollywood like ASAP I mean there's like a whole set of things where you can like look there's gonna for sure still be like human fine details or things that it's not perfect at it probably never will be like quite perfect at but if you want to start like throwing together like rough draft vision boards Etc and then what you'll end up seeing is like the equivalent of like you know that there's you know sort of now you know sort of two um you know two Engineers can build like a billion dollar you know AI company like two animators and a director can like make the next Pixar film basically because like you know they have so much you know sort of Leverage and it's like bullish for open Ai and also bullish for Jason kman right but you just don't want to be in the middle but it's like short all the dudes that just invested like $500 million into like these like slop companies basically and it's just like good [ __ ] luck and it's the same thing with defense it's like you know bullish on andall bullish on the warf fighter that gets new tools totally don't recommend being anywhere in between yep exactly don't get stuck in the middle the barbell don't get in the M the sloppy middle as we like to call it the sloppy middle it's you the White Lotus uh you know sort of reference there is uh be careful of the sloppy middle between the brothers oh I haven't watched the latest episode so I I but I I've heard enough that I get it and it's not good yeah you can skip that one white L White Lotus is funny white is funny cuz like it starts the season it's like kind of relaxing cuz it's like these Resort settings hang like oh it's just like I relate to these people in different ways and like and then it's like oh it just gets so dark like Episode by episode want nothing to do with any of these people yeah what what you know so so somebody that launched an image generation Tool uh is like Mike uh spiser over at Sutter Hill Ventures like they've done didn't they do like snowflakes they they like they they're like goats of incubations in in many ways comes out with an image generation tool what do you like what do you do at this point obviously not even just speaking directly to him but there's like mid journey and there's a lot of other players and uh it just feels like maybe there is no Edge and distribu you know relating back last week M journey is not in the conversation because they haven't raised money so it's like true but they're they're dependent they raise money every day from their customers I guess I guess but just so the funny thing is is we on the show last week about a PT quote around like you need basically distribution for a monopoly and you can get a monopoly from product but you can also get a monopoly from distri just distribution and so it is the but like do you think these you know image generation models should be rethinking their life and and future plans and and the game is lost or is there going to be if you just lean in let's say like you know setup shop here in Hollywood and just work with all the studios and say like you spend billions a year what would you do if you were actually running a $50 million series B stage image generation company yeah I mean look this is very top of mine like I literally met up with Mike I think it was like two weeks ago to like talk about you know what he was s of working on and I'm like I'm a huge fan of Mike we worked together on you know a handful of things obviously he's like crushed it with snowflake he's like clearly one of the valley you know sh of best incubator entrepreneurs investors you know you know exec leaders Etc but like yeah like I don't envy being in that position but you know I think you're seeing this in a bunch of different fields where it's like you know you've got the you know sort of you know mice that are trying to jart around the you know s elephants and like these like big tech companies are both very sophisticated like have great engineering but are also massive right like I mean again just look at like what SpaceX is doing with Starship and like you know stomping out a bunch of you know other you sort of mice and they're the elephant what andil is doing stomping out a bunch of mice it's like it's not an easy time to be like a mid-stage company that's trying to Dart around all these major players that are like not like old school incumbents that are moving slowly but like are led by Sam Alman and like you know are really pushing the fold and so yeah tactically like if I was in Mike's Shoes I think it's like look the like consumer play that just seems basically impossible to catch up on it's like this is kind of good enough for any consumer app right like it's not good enough to like immediately go make a feature like film but it's good enough for any consumer to like you know send a photo you know to their wife basically and they already have the winning consumer brand so don't even try to do that go where the M you know the elephant isn't even headed Dart in the opposite direction I think yeah go like heavy on Enterprise build up Studio relationships try and convince them you know hey look if you start using you know sort of chat GPT for this stuff they're going to use you for training data we're going to make like proprietary models that like you know f- tune to your own aesthetic and like the specific film that you're working on we'll make sure the data only stays basically like inhouse right like you just need to like just constantly be thinking about like yeah what is your you know angle of it is super unique but also those are like all really constrained Tams relative to like the thing that you know I think open AI is you know going on capturing it's yeah I mean I really love Mike and I think he's a phenomenal entrepreneur but like I also don't envy like I can guarantee you he was [ __ ] up late last night and you know is grinding today with his like you know exec team to figure out like what their you know sort of approach is in light of like you know this new world and that's what's so crazy about like Tech accelerationism all this stuff happening is like dude like this stuff like I felt like when I was in the valley in like 2014 like happened over the course of like 18 month periods and it's like dude this stuff like it feels like literally every month now we have like crazy new capabilities that come online that massively disrup out of build like a series B company ver in 2014 that new technologies disrupting like a late stage series B company like didn't honestly happen that often like never happen you kind of had like your stable growth like even at Bardo the stuff that we do is like super hard long time frames Etc like I feel like we actually like literally need to be nimble on our feet on like a month-by-month basis between like the changes of DOD priorities Congressional priority what other space companies are doing how Supply chains are maturing what the [ __ ] China's you know s doing it's like God man it's such a dynamic world and you know the like you know wealth the CR to the you sort of riches so good to be Peter good to be Sam you know I don't I don't myself or sper we were joking around you know a lot of early stage Founders will like time a release to try to catalyze a fundraise and it just Fe it felt like there was a world where Sam was like all right team like we know gibli will go viral like just make sure that this is perfect everything else can you know everything else doesn't have to be perfect but like we need to take over the timeline we need to go mainstream this day I'm closing the round on Monday like just go go go also Google just launched something that most people think is like competitive but the product is just buried in AI studio and like it was like it was good to break containment and it was going to be a Google story and Sam was just like not today I love it then maybe he paid that one influencer to make the like photo of his wife and like you know get that to go viral all I'm saying is like it just a little too convenient we need get a tin foil hat over on your side yeah we got it we got it right here the exciting thing bring it back to hard tech and defense is like we need we need better science fiction we need the the next of Science Fiction and if we can kind of like open source that and everybody can createing Vision someone has a good idea and they can inst need $200 million to like imagine the future and like convey that idea and uh that seems like the biggest opportunity to take away if you're not even if it's a little sloppy right now the the art will come yeah anyways uh great to see you thank you for by good luck with the rest of later boys enjo the rest of the day you too always a fun always fun time we got we got back to back to back to back to back back to back calls is he in the building about public.

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