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

“I wouldn't say laissez-faire. No, we have a default in office first kind of approach, but we especially through COVID and then through kind of the spreading of people with COVID and then trying to get people back, it has been harder for us to get that kind of core group back together.”
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, my joke comment is that if I only make two mistakes before lunch, it's a good day. So it's like there's a lot of things I would, I think a couple of things. I think taking a stronger corporate position on remote work is a frequent topic within your podcast in your world.”
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 they have done a, I think you kind of have to buy burcate a little bit, right? Because there's a like an ambitious AI software engineer type of mentality. And then there's a production assembly line fielding training type of mentality or different people. Yeah, they have in a certain category. And I think that's where we have some learnings to take”
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 a few things. There's a political piece of this that I think we have a lot of lessons to learn on impacting the appropriations process, impacting the legislative process, having our voice heard in different kind of policy approaches coming out of Congress and coming out of the Pentagon. I think there's a lot of lessons to be learned there. I think there are good lessons to be learned, especially on what in our business was referred to as MRO is essentially the long logistics tale that comes with deploying one of these products. Unlike a Silicon Valley software company where you hit upgrade on the cloud servers and then, whoa.”
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 no, no, no, no. It's like 60, 70 percent huge number. Like, Andrew, we're doing very well financially. This year, revenue's off the charts. And then we reinvest every single nickel of that right back, right back into future growth. Like we're still evident and negative, as you'd expect for a growth stage startup like us, but we spend a massive percent of our revenue.”
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
“Or drones or warships or whatever that requires a little bit of customization, that it's just a slightly different platform, slightly different technology. So we adapt it into the UK standard and then manufacture it here, deploy it here, support it here, field it here with British citizens based here in England, like sovereignty agenda is what they would call 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
“What we already do? We already do, yeah, for sure. And there's an agenda within each of these countries, within Australia, within UK. This isn't anything particularly new. The British government, like the US government or like the Australian government, wouldn't be comfortable taking British taxpayer dollars and funneling them straight to Androil US in California to buy new kid or new technology or new drones or new missiles. So one of the strategic moves we have made is to invest in teams and engineers and production capacities in each of these countries including the UK so that UK taxpayer dollars get spent within the UK to manufacture UK variants of a particular product that we make. We will see this in every country. So the thesis is basically taking core IP and then localizing it to work with your radio standards, your existing platforms like helicopters or planes.”
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
“They would consider our approach to technology development to be a threat to their style of technology development and their style of production. Yes, I don't think they view us as Androil, it's ourselves. I don't think they're thinking of us every morning. I do think they view cost plus versus firm fixed mindset as being particularly impactful to them.”
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
“Closer to the two and a half, 3% of GDP that everyone's committed that they should be spending on NATO, it should be my guess is like 50% higher than that. More importantly than a particular dollar amount, they should be spending it more efficiently. And the UK like the US is 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
“My point is just that this isn't a kind of new emerging sort of like, oh, I wonder what that growth sector is going to look like. It's not that at all. It's a big, enduring, very reliable sector. The other thing I would say kind of bringing it back around to the political positioning where we started the conversation is that defense spending has largely remained fairly flat and kind of grown pretty predictably almost linearly over Republican administrations, Democratic administrations, same in the UK for what it's worth. So from a perspective of like do we think our customers will be there buying important technology in five years? Of course they will be. So yeah, I think there's a couple of pieces. One is like I don't see it as a true winner take all. I don't see it as like Lockheed Boeing Northrop Raytheon etc. We're going to take all of them down. I don't see that at all. I think it's going to be like we're going to become the sixth prime alongside them and that there's still plenty, plenty, plenty of food to eat.”
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 don't think there will ever be a venture style dynamic of a winner-take-all. I don't think this is a situation of like Google versus Yahoo where one is the obvious dominant winner by 10x and then there's the other rands. I don't think that's going to be anywhere close to the case in overall defense spending. So kind of goes against that thesis. Sure. The inverse of that is that it is a gigantic market and it is a long enduring market. I have a couple of stats here to throw at you. In 2024 alone, US is spending about $880 billion on defense. The UK is spending about $73 billion more. The EU member countries are spending almost $300 billion on top of that. Australia spending $45 billion on top of that. And that's before we start talking about other partner nations like Japan or like Taiwan or Middle Eastern allies or any of that. That's purely just looking at this year's spending. It's like over a trillion, almost a trillion five in spending. Big number.”
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
“Six to 12 months would be very hard. I think a two to three year cycle is extremely believable, especially if you architect your products to be pretty modular. If you architect your products to be upgrade friendly, design your products around a software kind of mentality where you can thinking similarly to how Tesla approaches their fleet of cars with their over-the-air updates, pushing pretty frequently. Like if you take a software first approach to a lot of the products, yeah, I think you can get a lot shorter than a 5, 10, 15, 20-year kind of life cycle.”
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'm really enjoying your face right now About No, I mean, if you remember, in the early days of the Iraq War, we sent American soldiers and British soldiers into conflict in Iraq in soft-sided Humvees, where they were just like bullets coming through the canvas on the side. We were equipped for a different kind of conflict. And then over the course of the 20 years that we were at, both in both of those conflicts,”
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, so it can be upwards of 15, 20 years to go from first requirements document to full fielding of a system, which is way longer than most Silicon Valley companies have been alive. A wild amount of time. But it's”
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
“And the reason that they're doing that is because that's the incentive structure that exists within government procurement and is rewarding that kind of behavior. So what I'm trying to propose in a new administration, kind of a new worldview, a new approach to these contracts is like stop funding that. It's not working. Like you're not getting the best technology in the hands of soldiers. But fundamentally what you are getting is you are getting technology that is two or three generations behind. Because by the time you go from a requirements document to a PowerPoint proposal document to hiring the engineers to developing the thing on a cost plus basis, which takes exactly as long as you think it would, very long time, and then into a fielding and then ultimately into a support mechanism for that whole procurement, by definition, you're operating on requirements that are a decade, 15 years old. There are two or three cycles behind where the current state of the art is.”
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
“Flow that comes off of that contract actually pretty free. So then the companies perform financially very well, including some wild stats about stock buybacks and dividends. Like last year alone, Lockheed Martin of 2023 numbers, Lockheed Martin spent $6 billion on stock buybacks. They only spent $1.5 billion on IRAD, which is called internal R&D, their own at-risk funding of research and development. They spent four times the amount of money on stock buybacks than they did on at-risk research and development. That's wild. That's wild. That's completely upside down from out any technology company, how any software company, how any Silicon Valley type company operates.”
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'm enjoying the light bulb going off. What's happening is that the incentive structure within the Pentagon, within the procurement office, has said like, this is how we prefer to do business because we don't want to have our companies make too much money. So this firm fixed margin is something like 8%, 9%, 10% thereabouts, depending on the particular contract. So that's how they've structured many of their large procurements, including the F-35, including large submarine programs, have all been designed under this kind of cost-plus type structure. the defense primes have gotten very good at is they've gotten very good at figuring out ways to take their overhead kind of corporate costs including their buildings including their hr departments their finance departments their legal departments kind of all of these their IT infrastructure all of that bundling that into that cost number on the beginning part of the equation then taking that firm fixed kind of price margin markup on top of that such that that free capital”
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, so Northrop Grumman over the last 15 years has had a total compounded annual shareholder return of just over 20%. Lockheed and Boeing are just behind them at about 15%. The S&P 500 over the exact same time period has an 11.6% total compounded annual return. I'm sorry, I'm thinking about this like $9.”
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 will take more time. And when you incentivize somebody to work by a firm fixed price, it'll go a whole lot shorter. So it's like if you take those fundamental incentives and then you extrapolate that to the entirety of the industry, there's actually not a lot of incentive for the existing prime contractors to make the plane cheaper or faster. Fundamentally not the incentive. What they're incentivized to do, given that their profit margins are ultimately driven by how high they can drive the cost up because they get a firm fixed margin on top of that cost, then you get the behavior that you incentivize. And I think like if you look at some of the statistics and some of the performance of these companies, honestly, it's kind of hard to blame them. It genuinely is. Like the stock performance of the top five defense primes in the US is wildly outperforms the S&P 500. I have the statistics right here. I wrote them down. What are they?”
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. So if you've spent any time around lawyers or accountants or folks of that type that bill by the hour, so what happens on these large defense procurements is that one of these prime contractors will come in and they will pitch a PowerPoint slide about how they would do something. And then they hire engineers to build to that vision. Then they bill those engineers to the government at an hourly rate with a fixed margin. So that's a cost plus. So it costs us this. There's a fixed margin on top of that. And then they charge that back to the government up to the limit of the particular program budget. So what ends up happening, and it's like I started with lawyers and accountants for a reason, is like when you incentivize someone to work by the hour,”
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
“Where ultimately a competitive win, a better technology, a better approach, doesn't always necessarily win out. And like oftentimes there are different incentives at play that lead to a little bit more of a kind of communistic or socialistic approach to the defense sector that I think is fundamentally bad and is ultimately squeezing out kind of the crazy entrepreneurs and the crazy inventors from working in the sector. So the third point that I would change would be way less cost plus contracting, way, way, way less cost plus contracting, moving many more things to firm fixed price and then being comfortable just for those.”
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, a few things, man. First of all, would appreciate the urgency of the problem. Over the last call it decade, the governments of the West have largely gotten complacent to what we view as the kind of major geopolitical strategic problems facing the West, especially vis- ⁇-vis China, and to a slightly lesser extent Russia. So appreciating the urgency, I think, is point number one. Point number two, I would say, is bringing capitalism back to the defense sector. My former boss and now friend and mentor Sham, who you've had, Shamsankar, Palantir, who you've had on the show, he's been on a tear lately talking about this. And he had this tweet that I think perfectly encapsulates it where he said that everyone, including Russia and China, have given up on communism except Cuba and the DoD. And it's like, that's kind of the mentality, right? It's like a mentality of a cost plus style contracting. I'll get to that in a second.”
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, no. And even closed, understood. Understood. I mean, you talked to plenty of entrepreneurs who come in here and say, like, oh, AI is totally going to transform X corporate. Infrastructure totally going to transform accounting. We won't need accountants anymore. I've heard that pitch a couple of times, and you're like, Really”
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
“We do. We absolutely do. So there's just like, it's kind of pithy to be like, they're all just idiots. It's like, no, they're not. They're not. They're just operating under a different incentive structure, a different reward scheme, a different kind of careerist kind of mentality that for those of us in Silicon Valley entrepreneurs and VCs and investors alike, it's just a fundamentally different kind of worldview. So I think what you have to do is understand where they're coming from and then translate to them, okay, here I have this core technology. Here's how it could actually impact the lives and the capabilities of your soldiers in conflict. Here's how we'd field it. Let me show that to you. Let me do the work that's often pretty painful. And you talk to a lot of enterprise entrepreneurs and enterprise investors. It's like there's a headline that makes sense. You're like, oh, bringing X innovation to the enterprise. And then when you actually get into the weeds of enterprise implementation, it's really hard. Really, really, really.”
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, well, that's like 80% of my companies that are probably going to fail, and I'm hoping for the other 10% to return my money, and I'm hoping for 10% of them to be big home runs and return the fund. That's your business of a power law business. That's not the business of a procurement official. They have to put technology and tools and weapons and bullets in the hands of soldiers in harm's way every day. So when someone comes along and is like, I have a genius idea about AI. For them, like they're thinking, yeah, okay, maybe that sounds pretty crazy, but like I've kind of got to just put bullets in the hands of my soldiers.”
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 don't think it's totally fair. I think there's a worldview piece here that we as Silicon Valley kind of entrepreneurs tend to underestimate, where it is our jobs, literally, it is your job literally to go meet the most brilliant, adventurous, entrepreneurial, creative folks on the planet. That's your job. And then pick which ones of them you want to invest in, which ones of them you think have the best opportunity to go make their vision a reality. Of course, that is not the job of a DoD bureaucrat and a procurement officer. That's fundamentally not the job. You also have to think about a kind of a risk reward kind of incentive system that they're operating under. There's a perception and an understanding problem that has to happen here. So from the perspective of a procurement officer, if they take a flyer, they take a bet like you do on a prospective new company, and then that company totally implodes for use as a venture capitalist, do you think like, ah,”
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
“And then show them and then say beyond just like, oh, hey, here's a PowerPoint slide, which is what they've been pitched for the last 40 years of how this new potential thing, if you fund me, if you give me that money on a cost plus basis, surely I can hire enough engineers and I can design this for you. Here's my PowerPoint slide of what it would look like. We can shortcut all of that and just say, hey, so we've built a couple and I can come out to my test range. I'll be glad to show you how they work. Here's how they talk to the other systems you have. Here's how they talk to the planes you already have. Here's how they talk to the drones you already have. Like we think this is pretty compelling. It's what's called a con op in our business. Here's a pretty kind of compelling con op how you'd use it. Let's not use this technology. Let's give it a go.”
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
“Middle ground because if we invent and have an idea for some sort of crazy out of the box left field construct, and then we come to the Pentagon and say, hey, we think you should do X. And if X completely and totally doesn't align even at all with where they want to take the capability, it can be kind of a hard sell. So that's one angle is that we can just kind of go pitch something, convince them, and go that way. The other angle we can take is we can just do it. And I think that this is part of our strength where we've raised a pretty good amount of venture capital money. We have incredible broad freedom on what we can do with that money. So if we have an idea of a new capability, a new type of missile, a new type of drone, a new type of submarine, we can just go.”
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, pretty famously on a Twitter feed, right? Yeah, see, if you use these lights with the cabbage, it ages faster, right? So does she? Exactly. Good joke. Yeah, so I think there's like a slight misunderstanding that like, oh, the entirety of the Pentagon turns over every four years. It's just fundamentally not true. Same here in MOD Maine on Whitehall. It doesn't turn over with every administration end to end. So I think that these longer-term vision documents written by military officers and civil servants within these organizations largely do hold for where they want to see the capabilities of the Navy or the Air Force go in the next five years, the next 10 years, the next decade. But to your point, yeah, consistently, even in the technology sector, we consistently underestimate the pace of innovation and we consistently underestimate the pace at which software especially is going to continue to rapidly kind of develop and accelerate. So I think that there is 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
“Yeah, so I think a couple of things. I think, first of all, it's a slight misnomer and a slight misunderstanding that the whole personnel changes over every four years. That's just fundamentally untrue. political leaders at the top and some of the political appointees at the top, yes, those do tend to change with administrations, and sometimes they change more often. I mean, there's like an average 10 year or something like two and a half years for a lot of these positions.”
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, I think it's a totally transformative. I mean, I know you spend a lot of time on your podcast talking about AI as it applies to enterprise companies. As it applies to SaaS companies, as it applies to customer service,”
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
“War is not good for business. War is not good for humanity. What we want to do is deter war, which you want to do is to have a very big stockpile that you never have to fire. That's ideal.”
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 don't at all know. Absolutely not. Personally, stand with them and we as a company do too. I think it's a pretty clear position to take. You cannot expect a country to sit idly by while your neighbors lob missiles over the border, into your cities hitting apartment buildings, hitting shops, hitting homes to say nothing of staging an actual hostile invasion over the border and massacring civilians. And you can't expect them to stand by and watch that happen and do nothing.”
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
“Whole thing's pretty tragic if I were on the Palestinian side, I probably would rethink invading your neighbor and abducting and torturing and ultimately murdering civilian hostages. I think what we end up seeing is we end up seeing the ultimately kind of the near and total sort of conquering of Gaza. And we end up seeing the Palestinian people appreciating that terror and violence isn't the way forward for their society”
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, political proclamations like that are easy to make on a campaign stage and hard in practice. We'll see. We'll see. I mean, I'm optimistic that he'll be able to find a resolution. I just, I think in practice it's actually pretty 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
“My guess is that we see some sort of detente or some sort of negotiated settlement take place probably over the next year would be my guess. And if I had to bet, it looks something like Russia annexing a chunk of eastern Ukraine more or less along the line of conflict where the line has, for better or worse, kind of held for the last year or so. And then the war kind of de-escalates and everybody goes back to rebuilding.”
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
“West, our allies, Australia, et cetera, with the best possible technology to make the cost of escalating into a hot war for our enemies, for our opponents prohibitively expensive.”
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
“Few things that could happen. I think you could see North Korea get spicier. I think you could see an invasion of Taiwan that would get very spicy. I think you could see Russian expansionism vis- ⁇-vis Ukraine kind of keep pushing into Eastern Europe. And I think it's a pretty hot topic in Europe these days that we get pretty spicy and escalate. And then I also think freedom of movement of ships and commercial traffic through the South China Sea, like a massive amount of our livelihood depends on ships moving in and out of the Chinese South China Sea. So I think if you started to see freedom of navigation get compromised, that could pretty quickly escalate into a hot war. But vis-a-vis Andoral, like what we see is we see that turrents of long-term hot war conflict ultimately comes through strength and that there is a weakness begets hot wars. So from our perspective, we view it as we want to equip our military, the militaries of the UK,”
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
“Every missile needs semiconductors to help kind of control the flight dynamics and the aiming and the avionics and all of that. Far enough down that supply chain, you start looking at like, oh, man, those individual resistors, those come from China, that individual fastener, that raw metal comes from China. So I think it's very, very, very hard in practice to actually completely divorce yourself from any Chinese influence on the supply chain whatsoever. Nonetheless, I think if a Cold War escalates to a hot war, we as the West writ large need to be in a position where we either have stockpiled enough to make it through a conflict or where we have developed ideally our own supply chains for those individual components.”
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, okay. So, like when you buy a phone inside the phone is a circuit board and then on that circuit board are some chips and then inside those chips are individual minerals, individual materials that go into making those chips, right? So like as you go further down in the supply chain, you get this kind of broader out pyramid. And then in the business, you refer to that as your tier one suppliers or tier two suppliers or tier three suppliers kind of going down into like how far down into the like actual raw metal coming out of the ground do you want to trace back your supply chain too much of that down in the pyramid of the supply chain depends on Chinese processing and Chinese mining, especially around rare earth minerals and rare earth elements, magnets, which means motors, a lot of the underlying components that go into silicon chips, a lot of that is still going through China. So if you think about kind of a Cold War, which to me I think is pretty obvious that we're in, escalating into a hot war, and then you think about like, okay, well, every drone needs electric motors.”
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 there's a complex question. I think that there's still a lot of supply chain, especially way down in the tier two, tier three, tier four levels of supply chain that still fundamentally rely on Chinese processing, Chinese refining, Chinese manufacturing.”
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 has to be. And I think it will be. We're already seeing the early results at the TSMC plant in Arizona that has some pretty good yields that are slightly outperforming. The yields of their Taiwan factories. And of course, we'll see how that plays out in the longer run. But 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
“Exactly. And the sanctions notice it was kind of a hilarious thing. The sanctions notice said we're seizing your assets in China and preventing any entry into mainland China, Macau, or Hong Kong to which the obvious question is like, what assets? I've never been there. I'm not going to go there. I don't own any property there. Like, what the hell are we talking about? It's just this posturing kind of PR political message. Then for us, seriously for Android, we interpret that both as a sign that we're doing something right. Like if China is taking that kind of aggressive action towards us, like we see that as like, ah, well, we're kind of on the right path here. And then second, I think is a pretty clear indication of at least their ambitions vis- ⁇-vis Taiwan.”
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 literally thought, oh, wow, that's new. That's going to play weird. And it said Androil and three key executives. And I was like, which ones? And then opened the story. He's like, literally found out from a Bloomberg story. Pretty wild.”
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 was on the Peloton in the morning just riding and got a news alert from a Bloomberg story that said Androil and key executives sanctioned by China and thought, hmm. And the story listed”
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
“If America does its job and the West and our allies do their jobs, I think no. I think the ambition is there. I think the vision is there. I mean, I was personally sanctioned by China for selling missiles to China.”
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
“What we would like to see happen is a recognition of an acknowledgement of what we see as a pretty obvious and emerging conflict around freedom, around democracy, around the rights of citizens to have free speech, free assembly, and to have their voices heard in their own government, a philosophy that I would say does not apply to mainland China or to Russia for that matter as well. So I think a new approach to seeing the emerging threat that's there and then reflecting on kind of the capitalistic and industrial base that relies on China right now and taking an approach that brings a lot of those jobs, a lot of that industry, a lot of that kind of tier two, tier three, lower down in the supply chain types of work back to America in our allies, because I think depending on China in the long runs, kind of a dicey position 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
“I think is doing a lot of work in that line. I think we were going to succeed under either. Like we've succeeded under President Biden. We succeeded under President Trump before that. So I don't think there's a massive difference to Andrew. Mostly what we're excited about in a new administration are new appointees who bring different mindsets to defense procurement, like a different kind of approach, a recognition that the status quo is not acceptable, a new approach to funding, a new approach to contracting, seeing more urgency, more ambition, kind of the return of capitalism to the defense sector, which has been sorely missing for decades. A rebuilding the American industrial base, relying on cost plus contracts less, and turning to more firm fixed contracts, a whole number of different policy approaches that were pretty optimistic that a new administration is going to at least take some of that and put into 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
“Like we're an apolitical company. Like, we don't talk about personal politics inside the company. We kind of subscribe to the Brian Armstrong Coinbase kind of philosophy of like, we're here for a mission. And our mission at Androil is to bring the best technology to the defense sector. Period. Regardless of who's in the White House, regardless of what party is in control of Congress. So for us internally, it doesn't really matter to the day-to-day life, but externally, of course, perceptions are what they are. So yeah, we have to play the political game and influence where we can.”
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
“About it. A couple interesting things here for me personally, I'm a Democrat, I've been a lifelong Democrat, I've supported Democrats my entire life, I donated to Kamala, I donated to Hillary Clinton, donated to a number of House Democratic races, Senate Democratic races, recently hosted a fundraiser for now Senator-elect, Adam Schiff of California. So I've supported a lot of sort of left of center national security dems through my career. So, of course, on a personal level, like, yeah, I wish the election had gone differently. That said, I think there's a lot of interesting potential for both Android and the defense sector writ large in a new administration. And I think having a new approach, a new mindset, a new approach to innovation, a new approach to funding different defense programs could be pretty interesting. So we'll see how things evolve. We'll see what control of the House and the Senate looks like. And I think for Androil going forward, I think there's a lot of things of bright future. The other thing I would add here is that internal to Android.”
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