operator & investor | @senra_systems prev: @blumbergcapital, @ftpartners
sf ➡️ la
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This is mostly driven by opportunity cost
Delta Slim explains it best in the hit movie Sinners
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We're bringing film back to San Francisco.
Since we strengthened our Scene in San Francisco film incentive in February, film and TV production in the city have surged.
We permitted 309 productions, which:
- Increased spending by 85% to $32.3 million
- Employed more than 3,600 local crew members
- Generated 5,630 SAG-AFTRA bookings for actors
- Accounted for 4,303 hotel room nights
Over the past year, I’ve had the opportunity to visit productions filming across our city and meet the talented crews behind them—many of which would not be here without the legislation we signed. Film creates jobs, generates revenue that powers services residents rely on, and shows off our city to the world.
Let's go, San Francisco!
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Solid read.
There are three trends converging:
> The US has built its military prowess on a small number of large and capable systems (e.g. we have 11 aircraft carriers)
> The future of warfare is centered around a large number of small, inexpensive, and intelligent systems (e.g. autonomous missiles and drones)
> China's supply base is building toward this future
The conclusion is straightforward:
The US supply base needs to reorient itself from producing large platforms to producing small, nimble, and intelligent systems
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Greg retweeted
If reindustrialization were a book, we'd still be at the first sentence on the first page.
Get after it.
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It’s better to build a positive sum business
It’s better to build something new vs steal market share from others
Competition is for losers
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Only in VC/startups do you find the brightest minds working on the most ambitious problems
There is no greater arena
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In manufacturing you either build high mix/quick-turn or you build for volume.
There are pros & cons to both.
Demand for quick-turn has exploded with the rise of A&D startups. Existing supply bases can’t operate at the speed & quality these startups need for rapid R&D and iteration. This can lead to rapid growth as a supplier.
The downside is you tie your fate to the A&D bubble and risk high customer concentration with new startups.
Volume is great because it comes with large contracts, high revenue visibility, and repeatable operations.
The catch is that these contracts are hard to win and you compete with a legacy supply base that’s entrenched with the primes. It’s not as green a field.
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