YouSaid · the spoken record
Chris Anderson
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- 144
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- 2017-07-05
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- 2017-07-05
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“It must. I mean, I'm sure you're right. I mean, the engineers that I've worked with in the past are motivated primarily by the work. They want to do the most exciting work of their career. I mean, there was a while when our recruiting technique consisted of the words flying robot.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Me just noodling away. Now, when I say hobby, it started with me and my kids putting together robot blimp kits in a pizza boxes. Did they?”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“So the hairs went up on the back of my neck. I was like, I don't know what just happened there. You know, that you, well, certainly most advanced drones you could buy, and possibly the most advanced drones in the world, at least the technology, and it was our job just to create a company to turn them into a project.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Let's just do that. And so they're on the dining room table. We put together a Lego autopilot and we stuck an NBRC plane, which I had retrieved from the tree and took it back to the field. And it worked just well enough and kind of flew autonomously, just long enough for me to say, holy cow, what have we just done here? The kids are like, yeah, as we said, that sucked. Dad. And I'm like, wait. So they're kidding.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“And then on the next day, we flew the airplane, which is to say I flew it directly into a tree and then that sucked. So my thought process consisted of the following. One, those rotten kids, two, that actually wasn't very cool. Three, what would have been cooler? Huh, what if the robot could fly the plane? What if we had a flying robot? That'd be cool. What's a flying robot? Just came home, Googled Flying Robot. If you Google Flying Robot, you will find the first result is drone. And you're like, oh, huh, I guess a drone is a flying robot. Wait, what's a drone? Google drone. Oh, a drone is like an airplane with an autopilot. It's like a plane with a brain. Oh, yeah, I guess that makes sense. Wait, what's an autopilot? Google Autopilot. Oh, an autopilot is sensors and software that kind of measure, you know, the orientation of the plane and fly it. It's like, oh, wait, sensors and software. Isn't that what's in the Lego mindstorms?”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“It was not cool. I thought it was cool. But it's basically you spend all morning building it out of Lego pieces and it rolls very slowly against the wall. If only it waved its arms. It basically just had two wheels and it rolled towards a wall and then kind of backed away. And they're like, come on, we've seen transformers wear the lasers. And then the next.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I mean, keep them busy. I mean, video games will keep them busy, but I want to keep them minds busy as well. So one weekend, I'm an editor of Wired, you know, and we get these products in for review and this Lego Mindstorms NXT robotics kit comes in and this radio control airplane comes in. I'm like, okay, one of these two things is going to work. Either the robot, building robot will be cool, or at least flying a plane will be cool. And the kids roll their eyes and another one of dad's things. So we built the robot and it was not cool.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, I didn't initially realize that. Okay. So, I mean, my path was really simple. I've got five kids. My wife and I are former scientists. We try to get our kids excited about science and technology, and we fail and fail and fail again. And so every weekend, I'm trying to think of something that'll engage them.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“It's a reasonable request. Measure what you're doing so that we can manage it better. You know, either we're going to avoid the errors or if it happens, we know why it happened, who caused it paper trail. I mean, somebody construction projects end in lawsuits. And you have this question, like, how did that happen?”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“It's basically the notion of digitizing sites. So you can manage, you can only manage what you can measure. And governments are now requiring BIM, which is to say, hey, we need you to measure these sites because these cost overruns are being paid for by somebody.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, well, it's for government infrastructure. They do a lot of roads and bridges and highways and things like that. This is part of a trend called building information modeling BIM.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Some form No, there's lots of ways to do reality capture. You can do it on the ground with laser scanning. You can do it on the ground with cameras. There's inside the building and outside the building. So what drone scanning is best for is commercial construction, typically some of the larger sites, often not in a city center because you have FAA regulations about where you can fly and where you can't fly. So it's kind of commercial sites like skyscrapers, big complexes, typically outside of a city center. But still, you're talking about maybe a third of construction falls into that category. And then the most important time to do it is at the beginning when you've got the site, you're digging the holes and the foundations, et cetera, that characterizing it. Because remember, the drone's just scanning the outside of the building. So you scan the site, you scan the foundations, and then you scan each layer as they build it up.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“There's that I don't know if we would have caught that one, but the construction industry is the second largest industry in the world. That's amazing. After food, $8 trillion industry. And unlike agriculture, which has hedged against all sorts of inefficiencies, water, et cetera, construction's not. It's got 80% average cost overruns. 80% cost over. That's amazing. So it's like a $5 trillion industry that overran the self to $8 trillion. And those cost overruns are typically due to just stuff happened, right? Mistakes, delays. It's a complicated supply chain. Any kind of delay turns into cost.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Precisely, and because it's all so precise, if something's off, it's actually off. So if a post is off or a trench is off or one of the cables for the, it's called post-tensioning cables, which is a big thing in construction, you can actually see, it's called a clash. And when you see that the physical You know, physical site is often the design. There's only two possibilities. Either it was an intentional change for a good reason, in which case you need to reflect that change back into the model so that everyone understands that things have changed, or it was an accident, in which case you need to catch it and fix it.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“So, the process is, and you probably saw it this morning on our roof, the process is you take out an iPad. There's a drone just sitting there. You turn on the drone, press the button, take out your iPad.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Detail. It's pretty detailed. So what you described as photographs, maybe video, that's actually not what the construction industry wants.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Source available to anyone who wants to use it or improve it exactly. So that's drone code. And then there's the apps. And the apps is where we focus. This is using the drone data. So it's less about the drone, more about the data, using the drone data to do something useful. In our case, we partnered with Autodesk, who's the dominant company in the 3D design. Yeah, it's AutoCAD and it's construction and engineering and architecture and things like that. And their initiative has been to sort of say, well, in construction, you start everything digital on screen in CAD. And then the moment you dig a spade of dirt, it's now analog and you can't measure and you can't use the same tools. So what you need to do is re-digitize the world as you're building it. And that's called reality capture and where the capture and reality capture.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Exactly. But soon enough, if you want a different kind of drone, we'll support that as well. So we're trying to be hardware agnostic. Right now, we think that this particular integration with the Sony camera is the best camera, and that's the way to go. But I think that over time, we're going to be more flexible. And if people want a different drone, that'll be fine. I think that's almost all American drone companies have done the same thing. Everyone stopped making their own hardware. Most people are supporting DGI at this point. Then there was the operating system part, and that was mostly open source, thanks to the way we started. And so we spun that off, and that's now part of the Linux Foundation. Oh, really? It's called Drone Code. And so I'm the chairman of that as well. Oh, that's interesting.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. So originally we did it all. We did the hardware. We did the software, which is like the operating system for the drone. And we also did the apps that ran with it. We ended up breaking them into three parts. The hardware part, we just spun off and don't do that at all anymore. We now support. Whatever hardware is out there.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“The probably went up. Exactly. And I don't think they were dumping. I think they're just that good. So we were one of the first Silicon Valley companies to encounter a 21st century native Chinese company. And we won't be the last.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Fundamental physics design, et cetera. So watching them, I knew that these 21st century Chinese companies were coming. I knew that they were going to be good. But just watching the price decline that came with that, 70% price decline in nine months. I think there's...”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“So they innovated, they raised $10 billion, billions of dollars of venture capital, $10 billion valuation. They went global initially. They actually targeted outside of China before China. They're designed exquisite. Their marketing is fantastic. Then their production efficiencies because they were engines and they vertically integrated, so they're doing everything. They weren't just like buying off the shelf stuff like we were. They're making it all.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“And the company we ended up competing with, DJI, started around actually a little bit before us. But this so-called China Can't Do X.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Was them So everything I learned about China before going there, I think it turned out to be wrong. Everyone said, oh, the political system is unsustainable, their economic growth is unsustainable. This quote-unquote centrifugal forces would sort of splinter. They can't innovate. They only copy. And it was around 2008 or 2009 where I spent most of my time in Guangdong province around Shenzhen. And I spent a night in Huawei, which is the telecoms company. At the time, they were being accused of stealing for the iPhone. Stealing from the Cisco stuff, it was way before iPhone. I understood this is 97-98. And so I spent a night, and the engineers were working all night, sleeping on futons. And I was like, these guys are awesome. They're serious. They're serious. They're basically, and they're basically, yes, they're making iPhones today, but they're taking notes.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“That good. Yeah. So I lived in China. I knew, you know, when I lived in China for those years as an economist, everyone said, oh, don't worry about China. They can't do X. X was like innovate or design or software or global brands or anything like that.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“No, no, but a parrot is a French company. DGI makes the phantom. Oh, the phantom. Okay. And, you know, it's something called the Mavic.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“No, so we did a tiny bit in Hollywood, but actually back when we were making drones, our biggest competitor was a Chinese company called DGI, which was extraordinary, perhaps the best company I've ever seen anywhere, not just in China. And they really focused on the cameras and the stabilization, et cetera.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Some of your toys around? No, actually, we were involved in the Benghazi film, but the Fast and Furious is that we have these sprints. And so sprints are development milestones are all named after Fast and Furious films, Fast and Furious, exactly. And it just turns out they're making the films about as quickly as we can develop.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“It was a carpool. I think it was a carve out actually for radio control hobbyists rather than for drones that happened in the 70s. But we used that carve-out to basically stick a million drones in the air. And then we're like, okay, now they're here. They're good. Now, what are they good for? And this became the commercial use. And originally, I thought it was going to be agriculture. I thought we were going to be.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“And originally it was recreational use, not commercial use. And all those things were legal. Call them loopholes or call them, let's say. It was a caraval.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Then along came Wi Fi, which says, hey, you know what? If we have low power and the ability to kind of listen before you talk and digital radios, et cetera, maybe you can just give us a sandbox, a little sort of, you know, spectrum, just let us play. No licenses, no ham radio, just no monopolies, just let us play. And that's essentially what we achieved with drones. We said, hey, give us a sandbox, anti-sandbox is going to be visual line of sight under 400 feet. Don't fly over people. Private land and things like that.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“And this room for. Exactly, and the drones are smart in the same way. The analogy I would use is on wireless. There was a time when the FCC's job was to give wireless carriers monopoly ownership of certain spectrum. This frequency is yours and that frequency is somebody else's. And we have to kind of block off the bits so they don't interfere and ruin grandma's television reception or whatever it was in those days.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Whatever the big data, neural networks, whatever. So the idea was, okay, we're going to put sensors in the sky. It's going to complement ground sensors. It's going to complement satellites. If you look up, the sky is empty. It is just the weirdest thing. I mean, it's very hard to find a market as empty as the sky.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, at this point, it wasn't a new company. Remember, we'd bootstrapped it to something like $5 million of revenues. It was making money. So that's quite unusual to de-risk something that much. So taking it to venture capitalism, I mean, it's very early. And at this point, we are roughly, basically technology. We were sort of saying, you know, we have autopilots, which have these boxes, the brains for the planes, etc. We have autopilots. You know, we have some kits. It was by no means the shelves of Walmart yet. And we actually articulated the ultimate goal not being selling consumer electronic devices in Walmart, but rather putting sensors in the sky. The intention was always to use drones as a tool to extend the internet into physical space. And so, you know, part of extending the internet into physical space is to gather, to sense the space and the cameras, et cetera. The other is to extend the intelligence of the internet out so the devices can basically harness the collective.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, you know, we work hard on that. We don't make the drones anymore, we just do the software. But up against, so we could absolutely do more with, you know, sort of different propeller designs and vibrations and resonant frequencies and speeds and all this kind of stuff. But by and large, you're up against physics. Now, that's not to say that at airplane, the ones with wings can't just glide their way silently, but it's not going to hover. So you get hover and noise, or you get non-hover. So either stealth.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Would that that were true? You heard drones this morning, their noise. You're not going to stealth, you know, now, at least not with a helicopter.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“How far away is that from that? Tuesday? That particular one. So that's not going to happen for a number of reasons. First of all, if you'd actually taken it out of the box and turned it on, you would have heard that it's really noisy. And you're not going to let this buzzing mini lawn. By the time you hear it, it's...”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“This is not that far from Skynet. Yeah, I can be pretty. Whatever the science fiction catastrophe you imagine, there may be catastrophe, but it won't be that catastrophe. Oh, I don't think you.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Some of these things look it's not that idiotic. ISIS is using drones very much like ours, hopefully not ours, but very much like ours today. They did exactly what you described. They bought, typically they'll buy drones from China. They stick a little hook on the bottom and then they drop bombs.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, and they just couldn't figure. I mean, they couldn't decide whether I was crazy or dangerous or both. But they knew that it was a joke. They knew that I was not to be taken seriously. And the Gandhi phrase, the Today, you know, that board and others like it. There were other people who are doing the same thing at the same time. They're now a million drones sold per year. There's never been a technology I can think of that went from military industrial complex to the toy shelves of Walmart faster than drones. And when we started, people said, you can't use the word drone because it sounds like a weapon. Now they tell us we can't use the word drone because it sounds like a toy.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“That are 40 feet long. It's happening actually this week, I think, in Las Vegas is the annual one. Anyway, one of the more innovative guys on the board invited me to speak to the military industrial complex. And I spoke and I held up this little board that we were making called RG Pilot, which is based on Arduino, and it cost $24.95. And I said, yeah, so we can do, at this point, drones cost $10 million and up. And I come out with this board that's $24.95. And I say, if you take this board and you stick it in like a toy airplane, you basically got the same thing you guys do. Right. Just for”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“And so by the time I actually made it not a hobby, but like my job and took venture capital, et cetera, it was already pretty de-risked. And so, yeah, at this point, we were making fiscal drones, but we started. I'll just finish with one last story about this. In around 2009 or 10 or 12 or something like that, there's the aerospace industry has an annual conference. It's called AUVSI. And it's happening autonomous vehicles systems internationals like that. Anyway, it's like the Boeings and the Lockheed's. They have predators.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Mexico, is that right? I didn't know. It turns out that he was when I met him, he was a 19-year-old in Tijuana, just graduated from high school. But by the time I actually went, it was like, he kept sending me these pictures, a bigger and bigger drone factories. By the time I met him, I mean, we were probably doing $5 million a year. By the, you know, by around 2012, I think we were making more drones per month than all of America's aerospace companies combined out of a Tijuana drone factory, which, by the way, is a great name for a band.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“I sent him a check for $500, and he just started doing it instead. And then it kept sending me pictures. And he's like, yeah, I've expanded the space. I haven't met him right. I've expanded the space, hired some people. And by 2012.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Very inexpensive, and I call this the peace dividend of the smartphone. What happened is that you take these extraordinary technologies, these chips that are now available really inexpensively. Then you have these desktop fabrication tools like 3D printers and CNC machines and laser cutters, et cetera. And then you have open source communities. You combine them, and now you've got the germs of an industrial revolution. This kind of ability for regular people to take the long tail of physical things rather than just digital things is what drove the maker movement and the kickstarter phenomenon and what we're experiencing today. So yeah, so I started by just sort of like, you know, just on weekends throwing together kits. And, you know, the problem is that they sold out immediately and the kids just wouldn't do it again. So I got better things to do than stuffed pizza boxes. So I found a guy on the internet named Jordi Munez, who seemed really smart.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Everything else, these incredibly fast lower power processors, the ARM, Wi-Fi, cameras, GPS, lithium battery technologies, all this stuff was coming out of the iPhone and other smartphones. And because you had these extraordinary kind of, you know, amount of R&D and economies of scale and production, those components were now available to adjacent industries.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Accelerometer and everything else. He opened up the little chip in there, and he says, awesome, what else would that chip be good for? And he comes up with Fitbit with his colleagues. So what happened is that a series of core technologies, what's called MEM sensors, these sensors on a chip.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“So, as I was sitting there in 2007 with my kids and Lego mindstorms, a guy named Jane's Park had just gotten a Wii controller, a Wii, the video game. I mean, the controller, and he's like, what's in this stick that lets that cursor move on the screen?”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“Only later did I say, How is it possible that we were able to do this? I mean, I can see you've got a Fitbit or something on your arm. I've got a pebble.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source
“That was the year of the iPhone, was released. And it wasn't clear initially that the iPhone had a connection to this. But when we said, why is it that, you know, so I started with my kids, we made a drone on the dining room table out of Lego parts. Fully autonomous GPS guided. This is like a few years earlier that was like military industrial classified export control stuff. And we did it with 12 cars. We did with Legos, you know, in Lego Mindstorms. It was pretty cool.”
2017-07-05 · Masters in Business · Chris Anderson: Don’t Confuse Valuation With Tech Adaptation · IDENTIFIED FROM THE TRANSCRIPT · source