My conversation with @MSaintil of @RocketLab, @SteveDelaporte of Avar Robotics, and @DanieleGammelli of @StanfordASL on "When AI Cannot Afford to Fail" at @ImaginationXYZ @Google is out.

A List of Founder-Led Stocks: Chips $NVDA NVIDIA Software $PLTR Palantir $APP AppLovin Data Centers $ORCL Oracle $DELL Dell $NBIS Nebius $CRWV Coreweave $IREN IREN $ALAB Asteralabs FinTech $HOOD Robinhood $COIN Coinbase $XYZ Block $ETOR eToro $BULL WeBull $LMND Lemonade $NU Nubank $AFRM Affirm $DAVE Dave Space $SPCX SpaceX $RKLB Rocketlab $ASTS AST Spacemobile Health $HIMS hims&hers $VEEV Veeva Systems $TEM Tempus AI Automotive $TSLA Tesla $CVNA Carvana Cloud Databases $DDOG Datadog Sales & Marketing $CRM Salesforce Cybersecurity $NET Cloudflare $ZS Zscaler $OKTA Okta $CRWD Crowdstrike $S SentinelOne $RBRK Rubrik $FTNT Fortinet (Social) Media $META Meta $SNAP Snap $ROKU Roku $RDDT Reddit $RBLX Roblox E-Commerce $SHOP Shopify $MELI Mercado Libre $SE Sea Consumer Apps $DASH DoorDash $ABNB Airbnb $GRAB Grab Real Estate $Z Zillow Productivity $ZM Zoom $TEAM Atlassian $WDAY Workday

Rocket Lab CEO @Peter_J_Beck does the back-of-the-napkin math on Iridium’s ~$3B constellation and says Rocket Lab could have built it for around $350M: "Take Iridium for example. Their constellation, don't quote me on this, is around about $3 billion for them to develop and deploy. We did a back of the napkin calculation and we reckon we could have done that for around about 350 million." "The timeframe to develop the satellite and put it on orbit, typically that would take five years plus. Roll some stuff off our production line, 12 months or 24 months." "When the cost is an order of magnitude less, you can take some risk, because nobody's gonna come up with a business plan, spend $3 billion and wonder if it's gonna work." "You can put experimental business plans in orbit that if it doesn't work out, you've lost a relatively small amount of money. Your ability to innovate drastically increases." @RocketLab

Rocket Lab CEO @Peter_J_Beck says reusable rockets aren’t new, the Space Shuttle proved that in the ’70s, but the economics never worked until recently: "I think people forget the space shuttle. The space shuttle was a reusable launch vehicle, designed back in the '70s. It's just unfortunate that the reusability didn't deliver on its cost targets. It was more expensive to almost reuse it." "What's unique now is it has been demonstrated, and the economics have been demonstrated." "You have a giant rocket full of fuel, and it puts all of that energy to go up. Newton's third law, you're gonna have the exact same energy coming back down, so you have to dissipate all of that energy. It's a re-entry and control problem." @RocketLab

Rocket Lab CEO @Peter_J_Beck breaks the entire space industry into 3 simple layers, from rockets to the services we use every day: "I probably shouldn't have called it Rocket Lab. I should have called it Space Lab. The rocket always steals the show because it's this big roaring stick in the sky." "Rockets, that's about a $10 or $20 billion industry. Spacecraft, the tools in space to provide services, 20 to $30 billion. And then the reason why you do all of those things are applications in space." "Space is kinda weird that it's hidden infrastructure. You don't drive past it every day, so you don't see it. But everybody interfaces with space every single day, whether you realize it or not." "We build rockets, we build satellites, and with our acquisition of Iridium, we're also a services company from space." @RocketLab

Rocket Lab CEO @Peter_J_Beck explains what Iridium’s L-band can do that Starlink broadband can’t, including provide a GPS-like signal 1,000X louder when GPS is jammed: "Think about L-band spectrum as like a really loud voice. It can shout through the rain and it can shout through buildings. Broadband is a quieter voice, so if it's raining, you start to lose your signal." "That means it becomes really important for defense and safety critical things, where the signal just must get through." "If you look at any of the trouble zones right now, GPS is basically almost useless because it's completely jammed and spoofed. L-band can also be used for providing a GPS position, but it's a thousand times louder." "If you're sitting on the ground and you're trying to jam GPS, it has to be a thousand times more powerful than it currently is, and that's a challenging thing to do." @RocketLab

Rocket Lab CEO @Peter_J_Beck reveals the “ridiculous” 24-hour constraint he gave the Neutron team, and how it forced them to engineer servicing out of the rocket: "At the time, it seemed a ridiculous constraint, but it drove all the right engineering thinking. Time will tell if we ever actually get there, but certainly the vehicle is designed to do that." "It's not 24 hours of inspections. It's literally 24 hours, load payload, and go again. Just like you would with a normal aircraft." "If you had 24 days, then you have plenty of time for inspections and replacement and servicing of components. If you have 24 hours, it engineers out all of these serviceable items." "We can't go and service the rocket engine between flights. We just have to make it go and go and go. You don't pull a turbine out the front of an airplane engine every time you land." @RocketLab

One (or more) of these beaten down sectors will make a you multi-millionaire in the next decade. Remember this, people are so scared at the bottom. They miss the entire opportunity. 1. Crypto-related stocks - "no chance for adoption" • Circle • Coinbase • MicroStrategy • Bitcoin • Ethereum 2. Consumer brands - "left for dead" • Nike • lululemon • Gap • Abercrombie & Fitch • Estee Lauder • American Eagle 3. Fintech - "fintech profitability concerns" • Opendoor • Zillow • SoFi • Rocket Mortgage • Robinhood 4. China/emerging markets - "China is uninvestable" • KWEB • FXI • EEM 5. Social media - "ad revenue is weak" • Pinterest • Snapchat • Reddit 6. Ride-sharing / gig economy - "autonomous vehicles will kill them" • Uber • Lyft • Grab 7. Nuclear energy - "too risky, Fukushima, regulation will block it" • NuScale • Oklo • Nano Nuclear • Uranium Energy • Cameco 8. Homebuilders - "housing dead, rates too high" • Lennar • D.R. Horton • PulteGroup • NVR Mortgages • Taylor Morrison 9. Chemicals - "China dumping" • Westlake • Celanese • Dow • LyondellBasell 10. Clean energy and EV's - "subsidies dying, demand collapsing" • SolarEdge • Enphase • Sunrun • Lucid 11. Space/aerospace - "money pit, decades from doing anything meaningful" • RocketLab • AST SpaceMobile • Intuitive Machines • Joby • Archer 12. Quantum computing - "10 years away from being useful" • Rigetti • IonQ • D-Wave • QUBT 13. mRNA and biotech - "COVID is over, pipeline dried up" • CRISPR • Moderna • Beam Therapeutics 14. Rare earth elements - "China controls 90%, no way to compete" • USAR • CRML • MP Materials 15. Software - "AI will kill software" • ZScaler • Zoom Communications • ServiceNow • Adobe • Intuit • Salesforce 16. Restaurants - "consumer is broke, nobody is eating out" • WingStop • CAVA • Chipotle • Jack in the Box • Papa Johns • Shake Shack • Domino's • Wendy's • DutchBros 17. Movie theaters - "streaming killed movie theaters" • Dolby Labs • AMC Entertainment • Cinemark You watched Amazon go from $7 to $3,000. You watched Bitcoin go from $200 to $100,000. You watched SanDisk go from $50 to $2,000. Every single one of those was on a list exactly like this one. Beaten down. Hated. Laughed at. "It will never work." "It's too risky." "The industry is dead." You are looking at the next version of that list right now. Do NOT miss your chance.