YouSaid · the spoken record

Matt Grimm

lines on the record: 105
first: 2024-11-11
most recent: 2024-11-11
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Think probably we're all in this for the long haul. We're going to ring the bell one day and then we're going to build a massively successful publicly traded company. And like, yeah, it's probably my last. I'm getting old. I'm getting tired.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Failure was completely impossible, completely off, I'd repatriate all semiconductor fabrication. I'd start a company doing that.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“My family and my kids. Well, I don't know. It's different for every person. It's different in every geography. I'm not going to put a number to it. I mean, you could take $500,000 and go live in many parts of the world and live very well living off the interest on that and be quite comfortable. And I know people who are quite comfortable living in one bedroom apartment and they surf every day. Like, that's totally fine. I just, I don't think there's a number at which it's like, that's the number. I don't think it's that simple. I think it's really about like what is it that's rewarding for you? What is it that makes you happy, that drives you on kind of a more philosophical, spiritual level? Finding that is one of life's great challenges and ultimately my experience at least, somewhat disconnected from the bank account balance.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“That kind of realization that to your point, not quite cheated disappointed maybe is like a better word where it was like, oh, this doesn't actually bring me happiness. This doesn't bring me contentment. This doesn't bring me fulfillment. What I think money does is I think it allows you some freedom to explore who you really are, what really makes you tick, what really brings you joy, what really is rewarding for you. And ultimately, like my quip about who do you spend your time with is like, that's really what life's about. And for me, granted, you know, you're about a decade younger than me, but like for me, like that's about.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“I would tell you an anecdote. Growing up, I had this fascination still do with fancy fast cars. I was one of those kids with the car posters on the walls and, you know, my desktop background was a fancy Ferrari, et cetera. And I had this dream, my dream car, you'll chuckle because it kind of sort of shows my ambition at the time. My dream car, an M3 coupe, this six-speed, really cool, like BMW M3, and it's kind of this like road car, but kind of a race car. And like, I could, you know, use it, but also it's super, fast, super cool. And I had this vision. And then early in my palantier career, I saved up some money, sold a little bit of secondary, had some good cash. I was like, oh, can I get that car? And then I got it. And I was like, did this awesome experience? Did the European delivery, which I strongly encourage, by the way, it's really dope. And then got the car, went back, went back home, and I was like, okay, well, I guess I'm like just back to work again. Going out to dinner with my friends, I guess. And it was like.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“No, of course not. No, anybody who tells you money makes them happy is lying I think money buys you the opportunity to explore the world, to explore different interests, to have a different relationship to the world. Money in and of itself, no, of course that doesn't make you happy. You fill a swimming pool with cash and swim through it. That's not going to make you happy. It's going to make you happy is good relationships, good friends, good experiences”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“So, I grew up in the Philadelphia suburbs and remember constant friction between my parents around money always. There was just never, never enough money. There's always instability. And I don't want to make it paint a picture of some sort of Oliver Twist here kind of begging for food kind of situation wasn't that bleak, but I remember a consistent kind of friction around the direction of the family and whether there was enough money or where the next paycheck's coming from or whether we'd be able to make the bill payments. And I remember bill collectors, I remember like mortgage foreclosure notices, like I remember a lot of that friction and then observing that friction on the relationship between my mother and my father. And I remember very”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“The one I'm not often asked about is impact. And you've talked a little bit about this with a couple of your other interviews. Impact of early life and childhood on one's psyche and one's approach to the world. We get asked all the time about kind of the usual questions of AI and ethics. And of course you can't go through any media engagement without talking about President Trump. All of those things, those are pretty well trodden, but never really get asked about the sort of the other side, the personal side of the family side, the early childhood side.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think there's a lot of interesting and very challenging structural issues facing Europe. And I think fundamentally, again, this is coming from a very, very American perspective, there's an ambition. There is a seeking and working towards a better brighter future that feels to be almost kind of complacently lacking from a large portion of Europe. And I know you said it yourself here in the UK as well. And I think there's an element of, if we want a brighter future, we have to build it. And that spirit, that drive, I worry that Europe's kind of lost their spark on that front.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“There'll be arguments. There'll be an argument in court. There'll be a jury that will decide whether it crossed into some threshold. And this isn't to say that we have obviously different approaches to freedom of speech in this country and in the U.S. But there do exist a very well-established set of laws and practices around what is and is not protected speech, whether it's parity, whether it's not. These laws do exist. My point is in the meta saying like this is an allowable opinion. This is an acceptable opinion versus it's not. It's an incredibly dangerous position to be in. And you have to look no further than the debate and the dialogue around COVID post kind of in those first few months around when the pandemic really took the world over. And social media platforms, Google's, the mass media sort of mainstream television and radio wouldn't talk even a little bit about possible alternative theories. It was wild, totally wild in retrospect. And actually some of those alternative theories turned out to be.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, that's not what I'm saying at all. What I'm saying is that having a sort of preemptive control over what opinions, what political positions, what proposals are allowed to be said is an incredibly dangerous path to go down. And who gets to decide is really at the core of this? Should that person who made that joke be allowed to make that joke? Absolutely they should be allowed to make that joke. Does that mean there should be no consequences? Sure, there can be consequences. It could be reputational consequences. There can be lawsuits. There are liabilities. There are all sorts of things that can play out. My point is that it shouldn't be the job of the state to say you are allowed to say this, you are not allowed to say that. That has never in human history ended”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, who decides? Do you decide? Are you the arbiter of what was a funny joke that got a laugh versus an unfunny joke that got a boo?”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Your point, though, around traditional media bias and that messaging is 100% accurate. And I think the kind of the democratization of information, like, of course there are pitfalls. Of course there are challenges around misinformation. I listened to your interview with Owen at Intercom and talking about free speech and what does it mean and all of that. It was a fascinating conversation. I don't think, to answer your question concretely, I don't think it's overstated, if anything. I think it's understated.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“For the direction of a country, man, I don't know what to tell you, but if they're going to have their finger on the scale and on the knob, control the knob of what's being consumed by the overwhelming majority of our citizens. Yeah, we shouldn't let it.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I think it's more complex than that. I think it's that what you are mainstreaming into the central cortex of the American psyche, especially our youth, especially our teenagers, our college age youth, like you're mainlining a certain type of message to them. And I think there are parallels where it's like if you look at what Twitter now X was pre and post Elon's purchasing, like it's a different tone. It's a different type of thing. They're promoting different content or they would say not promoting some content. You can see in the zeitgeist how what content is getting promoted through different social media see the same thing on Instagram can affect the psyche of a population and what we are willingly doing is we are willingly letting a strategic adversary control the knobs on what gets mainlined into the psyche of our youth and if you don't think that that has long-term strategic implications for the motivation for the ambition”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yep. Terrifying, isn't it? So I think to your question about Sean, is it the most evil? Yeah, I think probably, but I think on a global competitive sort of long-term landscape.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“China, hands down. I think the mindset of the PRC, I think their approach to basic human rights, I think they're conducting an ongoing genocide with their Uyghur population. I think their approach to free speech, to political assembly, to religious freedom are fundamentally antithetical to how the West values human life and how we think about human rights and what we're on this earth to ultimately do. Fundamentally anathetical. And I think if you look at both the sheer populations, a very big country, you look at their production capacity a lot, you look at their control of the supply chains that we already talked about earlier, and then you put that together with what IVU has been a pretty well demonstrated, at least ambition for empire building, whether that's through Belton Road in Africa, whether that's through invading Taiwan. Like you look at them increasing their influence on the global sphere.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, of course, drones and technology will make it kind of an imbalanced, unfair fight. I don't think that's what it's going to look like though. I think what you're going to see is you're going to see Iranian agitators equipping those forces with these very cheap drones in large quantities in a way that then like we simply can't afford to defend ourselves from in the long run. That's where it's going to get super interesting. So our whole thesis is about driving down the cost and driving up the production rates of those various kind of defense mechanisms and munitions in order to get both keep up with and ultimately outcompete.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Million dollar ish Irish missile that made by Saab, those missiles way more expensive. So if you play out and you're like, what is their manufacturing capability of those $50,000 drones? Very, very, very, very high. And then, okay, we have to then launch either our own very expensive missiles, our own very expensive planes to then go fly up behind and shoot these things down. Ultimately, that kind of cost curve and that production curve is not in our favor. And if you look at some of the kind of statistics out of Ukraine, I can send some of these, you have to show they're incredibly scary, of the amount of munitions that get expended in the first couple of weeks of one of these nation-on-nation conflicts. And 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. So if you think that the war looks like what it did in Afghanistan,”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“That we're seeing this in the conflict in Azerbaijan in 2020. I think we're seeing it play out in Ukraine right now. And I think we're seeing it play out with Iranian missiles that they're lobbying at Israel from Western Iran. The way it's playing out right now, you think about it as a kind of an indigenous kind of like local tribal kind of warfare that's not what it is. What it is is that these countries, these adversaries can make these drones in massive quantities for incredibly cheaply. Iranian Shahid missile, one of the missiles they mostly use, goes pretty slow. It's just a drone. They can make it for the neighborhood of $50-ish thousand dollars, and it's just incredibly cheap for these missiles. They'll either give them to the Russians, then the Russians will shoot them to the Ukrainians, or they'll just shoot them at Israel from Iran. Very cheap. Then it takes us a $4 million Patriot missile to intercept one of those, or at best,”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“That's how you think the future of warfare will play out, then no, it's not a fair fight. I don't think that's how the future of warfare is going to play out.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Jerry Joe Rogan of you. Robo Dogs color me skeptical. Robot on Robot Warfare, I think, is pretty likely. I think we're kind of already seeing it.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Think really what it takes is full scale production, massive scale production of robot planes, robot subs, more drones, more missiles, more everything. We've got a lot of building, a lot of investment to make there, but I think that's really what it's going to take. And then really just continued operational excellence and continued delivery, it's hard.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“I think I would not be investing in defense at some of the valuations that these early stage companies are pulling down because I think there's a sort of a view of a venture return in some of these companies I think is going to be pretty hard to achieve.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“The other college guy Biggest lesson from Peter is that there's no alpha in consensus. Peter is famously a contrarian, et cetera. The point is not to be disagreeable. It's not at all the point. The point is that if everyone agrees, if the consensus is X, then there's no alpha in X because by definition you are just going to perform exactly as well as literally everybody else is. So the alpha, the actual interesting signal, the investable signal, the differentiated signal is in being contrarian. And it's very easy to say that. It's very easy to read that. It's very easy to be like, oh yeah, I totally get it. Incredibly hard to implement in practice.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“I have changed my mind on the importance of business systems and nitty gritty weeds of business systems integrating together leading to an effective manufacturing process.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Pounders one. Hands down absolutely every time. It's literally in the name of the fund. Their job is to make bets on the people. And throughout their history, this is demonstrated with their relationship with Androil as well, demonstrated with their relationship with me personally. They are a ride or die stand by their founders kind of organization. A lot of VCs will say that they are. A lot of VCs will make that claim. And then actually when push comes to shove, they're not.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Implicit in your question is an assumption that VCs and investors will use the same templates from prior investments on to do investments, which VCs are generally pretty smart, like they're generally pretty well educated. They're generally able to learn new things pretty quickly. Else, they wouldn't succeed in venture. They wouldn't get to partner status. I think we're going to see a different mindset. I think some of them are going to be good at it. A lot of them won't. That's just like any other kind of evolution in the valley, any other kind of evolution in the sector. So I think it's going to be tough times for some of them, but overall I'm optimistic. Overall, I'm excited for all the money pouring into the sector.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's finding its way, finding its way back. I do think Venture lost its way. And in pursuit of that early fad, that next kind of quick trend, that next quick pop. And of course, everybody, like, and I get the incentives, I totally get the incentives, you know, being in the sexiest company that helps you raise the next fund, that helps you get the next logo on your page, that helps you generate kind of the LP enthusiasm. I totally get the dynamics. But nonetheless, I think that the enduring companies, the companies with real motes that I think are going to be around for a long time, ultimately have real technological innovations at the heart of them. The thing that worries me is though, though, though,”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. I think in your business, your mandate is to find the brightest folks working on the most emerging problems that aren't going to see market for two years, three years, five years, and aren't going to be successes until 10 years. And I think fundamentally what that means is you should be closest to where I'm turning into old guy, vice guy over here. You should be closest to where the nexus of that talent is. And I think ultimately in the technology sector, this isn't to say that there aren't exceptions. Of course there are. I can't wait for the tweet responses, but like the highest concentration of talent working on what I think is going to be the next generation of problems that the world faces and the next generation of generational segment defining companies, a lot of them are in California, man.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, we love them. Good relationship with them. I hope they succeed. We've talked with them a couple times about central collaborations. We'll see where they end up.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Agree with me? I agree. Absolutely as a component of a diversified defense sort of investment within a broader diversified portfolio. Totally makes sense. Yeah.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“You should know that the androle of X is going to be androl. Your best bet's probably buying as many Androil shares as you can. Beyond that, I think what you should know is that execution and delivery and actually winning these contracts, winning these long-term programs of record is incredibly complicated and fraught with incredibly complex regulations, compliance, accreditation. Like there's this whole world of very messy kind of back office stuff that is admittedly not sexy. It admittedly doesn't make great headlines. But saying like, we've got a new missile. It's going to be great. Like cool, does not a successful missile program make. And there's a huge gap there. So as a new investor to the segment, first of all, I would say you're unlikely to drive venture style returns by being kind of consensus. But like beyond that, truly spend the time to appreciate the complexities of the appropriations process.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Ultimately, I'm a little nervous about a lot of these companies kind of getting over their skis and then getting one or two fundraises under them and then realizing it's a lot harder than it looks on paper and ultimately struggling and probably imploding.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, yeah, you can't tell me ahead of time. That would ruin the surprise. My answer would be twofold. I think first we have unlocked what was a kind of a latent patriotism within the technology and defense sector. I say latent because if you look at the momentum through the kind of the early 2000s into the 20 teens, the momentum in the tech sector amongst kind of the zeitgeist, amongst the employee kind of mindset was not one of patriotism. And to your question a half hour ago, whatever, like, are the best and brightest going to work at Lockheed, et cetera? Like, no, there was not an interest in working in the defense sector. And I think”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yep. We've tried. We've tried. And to a certain extent, you can't totally can't control fraud. Fraud's going to exist. And I can guarantee that someone out there believes that they invested in their former roommates, boyfriends, SPV and own SpaceX shares or Android or OpenAI or whatever else. And actually what they're doing is they're funding that guy's coke habit and the Bahamas or something. Guarantee that stuff's happening. And it's like I can't control that. What we can control is who has direct access. to the cap table who has direct access to Android strategy who has direct access to Android financials and beyond that we kind of can't control some of it to be honest”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“100% good. 100% it is. 100% it is. And when we've seen it, we've called folks out and said, hey, that's just not true. The most classic of which is where someone says, oh, we have direct access to Andro primary shares of their last round. There was something going around recently of somebody who is like, we have access to the second close of Androil series F rays. And it's like, what the hell are you talking about? There is no second close. The round has been closed for four months. This is done. So if what you're saying is like you're buying shares from somebody who did invest, okay, then say that, but that's not what they're saying. What they're making it sound like is just a totally fundamentally different position.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Representation of bad numbers to relatively unsophisticated investors on the other end who are paying pretty steep premiums to what we would describe as the fair market price with usually pretty ugly layered fees on that with in some cases pretty material misrepresentations and we've seen some SPVs going around to folks who are fundamentally lying about what shares they have access to what vehicles they're investing in.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“So, these SPV brokers, they are operating with very low information. Like Androil has never once, ever approached an SPV broker and said, hey, here are our detailed financials, here's our detailed strategy, let me avail our management team for different interviews or different kind of kind of sessions. They are operating off of a very limited set, basically headlines, which are almost always wrong. And then turning around to investors who are either desperate or just kind of carefree and saying like, I got an opportunity to invest in Androil or SpaceX or OpenAI or whatever other kind of hot company that they've been able to wiggle some access into. Here are a couple of headline numbers. A lot of those investors don't understand the fee structures that they're getting into. A lot of those investors don't understand even the structure of carried interest and what that looks like. And so what is fundamentally happening is you get a”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Two sides of it. They're kind of conflicting. On the one side, I'm like, yeah, second tier is a good thing. Like, you want these folks to be able to have that freedom. And it's worth noting that every time we've done one of these structured tenders, we've had a relatively low participation rate in them, somewhere in the like 30% range of the percent of shares that could have been sold that were eligible to be sold that folks actually did sell. So a fairly low blended average of folks who are selling their shares off, which I take is a great sign that employees are very excited and very long. The inverse of that is the chaos of the secondary market. And I think my reputation for hating the chaos of the secondary market is pretty well deserved. I think there's a lot of what I would describe as pretty scummy behavior that happens in the secondary markets where”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“No, absolutely not. Absolutely not. I mean, I think there are certainly individual RD efforts. I don't think I would say, oh, we could have done this on half as much money. No, not at all. I mean, if anything, I think we should raise more and go faster.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Change over the years. So in the early days, and this is because our investor profile has changed over the years too. And surely you have the notes of who's led each round and who's participated in each round. In the early days, it was exclusively Trey who would run our fundraising processes. And he would put Palmer or me or Brian or some of our key engineers in front of investors at the right time to get to whatever questions they had or whatever their concerns were. But really it was orchestrated by Trey. In the later years, that's the more recent years that's shifted to our CFO Babak entirely driven by the history.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes. However, I think that point is kind of hyperbolic. If the decision is truly genuinely tomorrow and there's new information that is coming today, yeah, waiting for tomorrow is better. In practice, that's not actually the point that the question is trying to get at. The point they're trying to get at is overanalyzing, over data collecting, driving to consensus amongst large committees over many, many, many, many months getting to a groupthink decision at the end is always net worse than making a quick decision, seeing the impact of it, learning from it, and then maybe changing course, maybe changing tact completely. Almost always. Delaying”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“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 and less because I'm neurotic more because the next time I want to do better and I think that like you can take that mindset you can take that approach and bring that to everything from our facilities to our IT stack to our recruiting process literally everything as a company we should be in a position where we say like okay great”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, sure. You can do both. It is very possible to have a customer demo go very well and have the customer walk away and be like, man, that was great. I'm really excited. Like look forward to meeting next week, talking about pricing and next steps. Ah, this is really great. Thanks for taking the time. And they walk out and they close the door, get in the car and drive away and to turn around and be like, all right, great job, team. Let's talk about the three things we can do better next time. Like that's absolutely totally doable. You can both celebrate your achievements and your successes and aim higher and better next time. Those things aren't mutually exclusive. And I think if anything, and this tends to happen a lot in the valley and certainly amongst VC world, is like a naval gazing at like how amazing you are and a self-puffery of like, oh, we're the best. Like first of all, like hubris kills everybody in the long run. So you can't have that. And second of all is just objectively false. Like in any individual circumstance, you are always misplaying things. Towet, like I guarantee at the end of this, I'm going to listen to.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Man, I think that anybody who tells you they have no regrets is lying and they're trying to put on a face, they're trying to pretend, I think there's a difference between sorrowful regret and introspective reflective regret. I am incredibly introspective. I'm incredibly self-critical. I like to joke around Androil that I'm our harshest critic, and I actually view it as part of my job to be continually pushing to do better, to go faster, to be more perfectionist.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“It's obvious now. Not at the time. Not at the time, it wasn't, no. So what we should have done at the time is take a big swing and say, we're going to make massive investments in ultimately headcount and then platform spend, kind of the tools that those folks build to build a unified kind of operating system here. We're doing that now. We announced this publicly. It's called Arsenal OS. Like we've hired a whole bunch of heads, but in retrospect, I should have done that two years ago. And we'd be in a much stronger position now.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Let alone the public that goes into supply chain management, procurement management, the sales and operations planning, which gets into literally the guts of how many fasteners should I buy, how many brackets should I buy, how many sensors should I buy into the kind of pipeline planning. This is sort of the whole CRM side of things, into the back end financial engine that kind of makes all of that work that ultimately your auditors have to interact with to stamp an audit at the end of the year. Was it all?”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Logical and it sounds on paper. It sounds like a kind of thing that a A McKinsey consultant would tell you on paper to condense spend, in particular on two areas it really kind of hampered our growth and was a long-term strategic mistake. Looking back, I wish we hadn't done this. First is on the business systems side. And this kind of gets to one of my favorite quotes. I literally have this printed on my wall in my office is the Elon quote about production. I want to get the quote right. I have it written as the extreme difficulty of scaling production of new technologies not well understood. It's 1000% to 10,000% harder than making a few prototypes. And the machine that makes the machine is really the genius and is really the hard part of getting full systems into production. What that means is there's a lot of guts to running a company, a big hardware company like us that are completely unappreciated by the average, certainly venture capitalist or investor.”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh man, again, a lot. There's a few things I would say here. First thing is we made a, I made a conscious decision a little over a year ago, year and a half ago, to attempt to non-linearly scale our GNA support functions. So things like our business systems team that does our internal tooling, our HR team, our people business partners kind of support the managers in their organization, our IT operations team, our facilities team. And what we were trying to achieve is we were trying to achieve a nonlinear kind of return on those types of heads. Like, can we build in automation? Can we utilize AI? Can we take a different kind of approach than a traditional type of company that ultimately will get to a stronger kind of cost margin profile if we can kind of condense that GNI segment of the spend? That was just a Shit decision. Why? I mean”
2024-11-11 · The Twenty Minute VC · 20VC: Anduril Co-Founder on How a Trump Administration Changes the Defence Industry | What Happens Between China vs Taiwan, Israel vs Palestine, Russia vs Ukraine | How Software Changes War & Why TikTok Should Be Banned with Matt Grimm · IDENTIFIED FROM THE TRANSCRIPT · source