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This is why I quit a very cushy job in 2020. The entire world is waking up.
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The professor at Yale who encouraged me to drop out of my PhD and pursue business, is also the guy who brought this bond to The Netherlands and made them pay up in person, for decades of back interest. Geert is a legend
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Just went to catch up with folks at the hedge fund I was at for 7 years. They are up $billions this year, they havent heard of any of the vc influencers on twitter, and shorted most of the Chamath SPACs. There are levels to this.
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i dont think any of us are truly prepared for the utter state of crypto twitter once Shkreli enters the arena in 2023. He is both a shape rotator and a wordcel, shitpoasts natively, and has zero regard for humanity. peerless in this regard, currently in ponzinomic cryo-sleep.
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We are going to make it in America.
Today, we're proud to officially launch NAIA: the New American Industrial Alliance (@newindustrials). NAIA is building an alliance of founders, investors, and policymakers.
Together, we'll restore America's industrial might. 🧵
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short the coasts, long the middle
Anduril has selected Columbus, Ohio as the location of Arsenal-1, our first hyperscale manufacturing facility.
We are investing nearly $1 billion of our own money and will bring more than 4,000 direct jobs in the largest single job-creation project in Ohio history.
Arsenal-1 will redefine the scale and speed at which autonomous systems and weapons can be produced for the U.S. and its allies.
This is a monumental step toward rebuilding America’s defense industrial base, strengthening its warfighting capabilities, and enhancing deterrence.
Learn more at:
anduril.com/article/anduril-…
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SF is dead. Long live SF.
If you are a young, hungry, brilliant talented developer, you should not take advice from 50+ year old Billionaire investors on where the cool kids hang out (thread time)
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One of the greatest tricks ever pulled was to convince folks like this fella that there is no “knowledge” in the world of Atoms.
In fact, mfg, energy, infrastructure are the MOST knowledge-intensive industries, and also the ones where knowledge can’t be easily transferred or reclaimed once lost.
You can’t clone the gitrepo for a drone factory, you can’t download the tribal knowledge for chips mfg.
If you don’t own the means of production, then you are at the mercy of those who do, especially when they also have loads of “knowledge workers” themselves.
I will never understand the fetishization of being a "manufacturing superpower". Like really? You want people to work in factories instead of knowledge jobs? You want people to be less educated, work more hours, and earn less? This is your political philosophy?
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A lot of rookie's dunking on a16z today, who don't realize venture is changing. Competition for early stage deals has massively increased in recent years, and ballers like @pmarca likely don't want to compete with 500 lil SPV bros and syndicates for $1m allocations. (thread)
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Once again reminding you the heartland is full of brilliant people. Long the middle
Luke Farritor won a portion of a 700k prize for figuring out how to read ancient scrolls that were carbonized by Mount Vesuvius. Which was almost as difficult as his new project: figuring out what the govt spends money on
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Hulett Ore Unloaders in Cleveland. These behemoths operated for 100 years on the shores of Lake Erie, enabled massive expansion of Steel production along the Great Lakes. 5 min down the road from where I grew up. We stand on the shoulders of giants
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often due to SEC restrictions. I wasnt allowed to tweet basically when I was in hedge funds, which was probably for the best :)
Focus
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The American people are ready for a return to greatness—rebuilding industry, recovering jobs, and revitalizing the heartland.
We founded NAIA (@newindustrials) because we share this vision of American greatness, and know now is the time to enact it. 🧵
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In 2020, I gambled and left a long career at one of the world's greatest hedge funds to start Atomic with @aphysicist. A few years later, along with a few of our confederates here on X, we've memed into existence an American neo-industrial renaissance. Feels good man 🇺🇸
techcrunch.com/2023/12/04/at…
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From the Blackrock chairman letter to investors. I told you
“Today, we're standing at the edge of an opportunity so vast it's almost hard to grasp. By 2040, the global demand for new infrastructure investment is $68 trillion. To put that price tag in perspective, it’s roughly the equivalent of building the entire Interstate Highway System and the Transcontinental Railroad, start to finish, every six weeks—for the next 15 years.”
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There is a ton of alpha in building something beautiful and simply not selling to private equity
Staying at a formerly world class hotel in Pasadena and thinking about how horrible the consultant class that’s taken over is, everything here a shell of its former self—small things replaced with plastic, food boiled down to lowest bidder deep fried items, prices jacked up, staff lazy and confused. Best encompassed by the image of the harp player at the famous tea service, squinting at an iPad, scratching out appalling 60 second harp versions not of concertos but of pop/rap hits.
The worst part is booking a reservation, now impossible without calling centralized booking agency which barely speaks English and has no answers because “we’re not connected with the property.” Customer service staffs are the worst enemy of the consulting class, the massive costs keep them up at night. It occurred to me that their next trick will be to turn the lowest on the totem pole, the “migrant worker” gardening and cleaning staff, into dual employees—the Leaf Blower/Customer Service role, a futuristic sort of slave wielding both cleaning implements and a Bluetooth headset at the same time, that they’ll call something like “Core Team Member” or “Full Service Coordinator.”
Perhaps then they’ll stop coming.
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It’s horrible that people are trying to send Americans back to working in factories. These 3 would be happier working in ad sales at a company who’s Forbes 30U30 ayahuasca retreat CEO is about to replace them with an LLM, and is 3 months away from going to prison for fraud
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China has been forcibly deindustrializing the west for decades. This isn’t the free market at work, this is a coordinated effort, in effect since before 2000, which has been massively successful in coercing the west to give up sovereignty over where and how everything is made
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America is a nation of builders. A nation of pioneers.
But for decades, America's builders have been stifled by bad policy in DC. Our resources have been trapped underground. Our jobs have been sent overseas.
The American people have suffered; our adversaries have gotten rich.
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My builder / investor mood board for the next decade:
Lights Out Mfg
Civics
Education
Crypto: zk-p's, defi primitives
Defense
Nuclear Power
Large language models
Meat production via o.g. bioreactor (aka Earth)
Salt Flat Lithium
Homes
Cancer / Neurodegen
Wine, cheese & jamón
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GM we are going to Make It in America
Apple to spend more than $500B in the US over the next 4 years; Plans include a new factory in Texas, doubling US Advanced Manufacturing Fund, a manufacturing academy, and accelerated investments in AI and silicon engineering
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this is the story of literally every 'high capex' industry, which we let leave our shores. Glad folks are waking up, but its simply a matter of will. Thats it. There is no magical chinese technology, or 'tiny hands' arbitrage.
Today @benthompson on rare earths
"U.S.’s deficiency in rare earths isn’t a matter of needing to catch up to technological excellence; it’s needing to simply have the will, incentives, and regulatory regime to do what we already did before."
TL;DR they are not rare, we just chose not to make them in USA
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GM, we are going to make it in America. Congrats gents @traestephens @PalmerLuckey
Anduril has secured $1.5B in Series F funding to hyperscale defense manufacturing. Introducing Arsenal-1, a 5M+ sq ft state-of-the-art facility to produce autonomous weapons systems. Learn more: anduril.com/article/anduril-…
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I’m just one part of the team that has built Reindustrialize, and our team is just a handful of folks among the thousands and thousands who are dedicating their careers to this movement.
Giving up a very cushy career in 2020 and going all-in on this macro bet was very scary at the time, but it seems like the whole world is waking up, and fast.
When Austin Bishop and Blake Seitz were writing ARC's paper on Reindustrialization, the idea was a dream.
Now it is at the heart of the US policy agenda, and this week @AustinBishop is convening the @ReindSummit to make the idea a reality. 🧵 (1/5)
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Reindustrialize
A good slogan is critical for starting a movement
- Make America great again
- Yes we can
- Time to build
- No taxation without representation
- Keep calm and carry on
- Move fast and break things
- Just do it
- Workers of the world, unite
- Think different
The best slogan is one that gets stuck in people’s heads and represents one clear central idea
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The collapse of American industry was a choice. But just as deindustrialization was a choice, we can choose to reindustrialize.
In June, hundreds of builders, investors, and government officials met at the inaugural Reindustrialize Summit in Detroit. They chose to bet on America
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@tszzl you might want to stock up on some emergency food supplies, going to be scorched earth 🙏
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If you share our vision of a Reindustralized America, please follow us on X @newindustrials, and visit our website at newindustrials.org.
It's time to build in America.
It's time to Reindustrialize.
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this is huge
At this pivotal moment for our country’s reindustrialization, thrilled to share @8VC’s partnership with @apolloglobal to accelerate America’s Industrial Renaissance.
Apollo and 8VC share a vision: to back America’s builders with the capital and expertise needed to transform advanced manufacturing, aerospace, energy, life sciences, and natural resources into engines of resilience and prosperity for the nation’s future.
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Members of NAIA already include @PalantirTech, @8vc, @jobyaviation, @JLL, @atomic_inc, @oklo, @generalcatalyst, @DiracInc, @HadrianSpace, @GalvanickCo, @GoToImpulse, @ycombinator and many more.
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The world is waking up to what I wrote about and started betting on heavily in 2019. As I said then, the "next two decades of private market returns will be be driven by those who can allocate debt in a sophisticated manner, who understand how to finance capex / M&A, and who have an edge in evaluating risk premia" (Imagine a mid-tier VC thrown into a HF pod shop analyst gig, and finding out the denominator of the Sharpe Ratio isnt a constant). The founder / investor distinction is an artificial one, born out of 2 decades of easy money. The great entrepreneurs of the past, like Rockefeller, were just as much tech-founders as they were corporate raiders, and atavism waits for no man.
A few of us have spent the last 2 years building a new investment institution that can fund and develop, at scale, the next decade's $Trillions of infrastructure development demand. Not a fund, not quite a merchant bank, but the right thing for right now. More to come.
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“From the high desert in the great American southwest “
All throughout middle school I would fall asleep listening this guy on WTAM 1100.
Probably explains a lot
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It's crazy to think it's only been 6 months since launching @newindustrials. Here is our latest project with @JoinFAI @AmerCompass @IFP, think of it as the playbook for Reindustrialization. Something I wish existed years ago!
rebuilding.tech/
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at some point Thiel-adjacent startups are going to run out of unused Lord of the Rings character names, and some poor new startup in the Gundo doing like nuclear warfighting humanoids is going to have to be called Cats of Queen Berúthiel or some shit
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And This is just the beginning.
We have a once in a lifetime opportunity
to Reindustrialize, but it won’t last forever. The next 180 days are crucial to get right.
We’ve been doing a bunch behind the scenes on our end at @newindustrials , can’t wait to share more soon.
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It’s morning in America. The people have spoken, the builders and innovators have a mandate. It’s time to leave behind the pessimism and degrowthers. It’s time REINDUSTRIALIZE
REINDUSTRIALIZE was the proto-spark that catalyzed 750 highly motivated stakeholders across industry, tech, govt, and over $1T in investable capital into action. i am deeply grateful for everyone's efforts, and will continue building on the momentum. we must accelerate.
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The Reindustrialize Summit became a rallying call, uniting individuals and institutions with a shared vision of American greatness.
We founded NAIA to turn this vision into reality. To unleash America's builders, and restore America's position as a global industrial leader.
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Downtown NYC is where the greatest operators are. Hunter Biden was downtown getting slices at Prince St Pizza last night. Caroline Ellison is living her best Dime's Square hotgirl life. Billy McFarland is out of jail and starting a new scam. SF and Miami could never
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I know I've been saying it for over half a decade now, but we are going to make it in America
Today, I’m excited to launch the Advanced Manufacturing Company of America. We've raised $76M in initial funding from Caffeinated Capital, Founders Fund, Lux Capital, a16z, and others.
The best time to build this business is right now, but the real work began decades ago.
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Annnnddd we are live!
We have been absolutely grinding the past few months to put together an incredible lineup for Reindustrialize 2.0. This is just a sneak peak of things to come; stay tuned in the coming days for more, as we accelerate towards the big day in Detroit. 🇺🇸
Announcing our first group of distinguished speakers for Reindustrialize:
-Ambassador Jamieson Greer @USTradeRep, 20th United States Trade Representative
-Lucian Boldea, President and CEO of @honeywell Industrial Automation
-@PalmerLuckey, Co-founder of @anduriltech
-@ssankar, CTO of @PalantirTech
-Daleep Singh, Vice Chair, Chief Global Economist and Head of Global Macroeconomic Research at @pgim
-@garrytan, President & CEO of @ycombinator
-@CathieDWood, Founder and CEO of @ARKInvest
More speakers to be announced soon. Join us in Detroit as we mobilize the US industrial base
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Congrats to my friend and fellow Ohioan @JDVance1 , the next Vice President of the USA.
He is the living example of the American dream and the art of the possible.
We are going to make it in America again
"The dumbest of all possible foreign policy solutions and answers for our country is that we should let China make all of our stuff and we should fight a war with China."
-@JDVance1 at NatCon 4
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Good morning, We are going to make it, in America! 🇺🇸🏭
techcrunch.com/2022/04/05/at…
As a co-founder of and now advisor to @atomic_inc , I am humbled and deeply gratified to announce the close of our round with Point72, 8VC and Toyota Ventures (nice lil thread below 🧵👇🏼🤠)
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Ty protestors !
Confused protestors at @reindsummit?
A new collaboration between two of my favorite companies, @jobyaviation & @PalantirTech ??
BOTH?! 🤣
Time will tell… but remember, ‘if you are not criticized, you may not be doing much.’
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Almost everyone has got the SF / Miami narrative wrong. We have not seen the unbundling of SF tech, we have simply seen the unbundling of Sand Hill Road and venture more broadly.
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VC is about the get gutted exactly how Twitter was. No room from Brex sponsored rooftop party pure schmoozers anymore. Serious financial literacy wins
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I can't overstate of big of a deal this is
The New American Industrial Alliance fully backs President Trump’s America First Investment Policy for balancing allied investment with protecting industries from China. Decades of weak policies eroded U.S. jobs and let adversaries seize key tech. This new approach strengthens manufacturing, protects IP, fosters innovation, and prioritizes American workers. This is a bold defense of sovereignty which will massively help to rebuild the American industrial base and middle class.
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NAIA will serve as the voice, visionary, and vanguard of this industrial revival.
We will advocate tirelessly on behalf of our members to cut regulation, incentivize investment in key sectors, protect American workers, streamline government contracting and procurement, and more.
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If you scratch your head and wonder why some of the greatest art in American history was created between 1980-1990 in NYC, when crime was peaking and SOHO looked like Mogadishu, then you will continue to get your predictions about places like SF wrong.
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We’ve been working on this one for a while. Long read on what we had, how we lost it, and how we can get it back. No more sleepwalking into the abyss, it’s time to wake up.
Thank you to @arc_forum for supporting our work.
The West has been sleepwalking into a deindustrialised abyss, outsourcing our ability to produce things, thereby outsourcing our sovereignty.
Here are the results of the Globalisation experiment we've run over the last few decades:
- Our cities have rusted over and factories mothballed.
- Our young people, out of gainful work, are starting families less and succumbing to deaths of despair more.
- Our civic cohesion has dwindled as small town businesses have consolidated into large corps.
- Our deterrence abilities against aggressor nations, who now control much of our supply chains, is on thin ice.
In this new ARC paper, @austinbishop and @blakeseitz argue that it is time to reindustrialise - and set out the choices we face if we are to rebuild and renew.
Read the paper here: arcforum.com/research-papers…
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Yesterday was a big day. It's been an honor to be even a tiny part of this broader reindustrialize movement to bring supply chain sovereignty, great jobs of the future, and prosperity to Americans from coast to coast and everywhere between. We are going to make it in America.
Yesterday, President Trump issued a series of executive orders that stand to propel the Reindustrialization movement into hyperdrive.
At NAIA, we've worked closely with the Administration to ensure our members' voices are represented - and today, it's clear our message has been heard.
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Very excited for my friend, and @newindustrials Head of Strategy @benkohlmann to be nominated for this crucial leadership role within the US Navy. We are going to miss him!
I’m deeply grateful to President Trump for nominating me to be Assistant Secretary of the Navy for Manpower and Reserve Affairs.
If confirmed by the Senate, I’m excited to work with @SECNAV Phelan, and many others in DoD, to ensure strong, capable warfighters, civilians, and their families are ready to meet the Navy and Marine Corps mission with excellence.
A thought-provoking military philosopher once said something I think about often:
“Terrain doesn’t wage war. Machines don’t wage war. People do and they use their mind!”
Talent is America’s competitive advantage in war and peace.
If confirmed, I’m committed to ensuring our Dept of the Navy active duty personnel, reserve personnel, civilians, and families are ready no matter what the future holds.
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Surprisingly unlettered take from a smart guy.
The world of atoms is not fungible. You can’t clone a mfg experience curve from GitHub. You can’t download energy sovereignty. It matters where you make stuff, and it’s rich to say just because you don’t want to give up your laptop job that there aren’t thousands of Americans who would love a good job that might be more risky than sending emails. No one is suggesting bringing back child workers at the Singer factory, we are suggesting having some sophistication in understanding that a country giving up its sovereignty over where and how things are made, is a recipe for disaster.
I’m glad folks are starting to think about how markets work in the physical world, but IBM didn’t leave Endicott NY because people were dying in their factory. Many of us predicted this secular macro shift going back over a decade, VC and tech basically totally missed it except Elon
Everyone wants to reindustrialize.
No one wants to remember why the US deindustrialized in the first place.
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📢📢📢 @newindustrials is hiring, looking for a high-agency, highly-commercial person to be our "Head of Member Relations and Fundraising"!
Who you are
* Highly organized
* Highly personable
* Experience fundraising / building networks, and managing a large CRM
What we need from you:
* Grow our network of relationships across companies, institutional capital and other non-profits.
* Be in charge of fundraising, both from member orgs and large donor gifts.
What you get:
* Great pay.
* Leadership role in a fast growing org.
* Opportunity to connect with leaders of industry and government
* A great quest & mission to dedicate your time to.
* A gun and a badge.
Please email me austin@newindustrials.org
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The problem with the "where to live" optimizer discourse, is that the average tech founder just isn't (and shouldn't be) trying to optimize for affordable middle income housing or good public schools. This is especially true at the early stage (ie where the innovation happens).
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Reindustrialize isn't just a quick hit. This movement is the next few decades of our lives.
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not a book, but the greatest blog, RIP
epicureandealmaker.blogspot.…
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We are getting 100+ RSVPs daily for Reindustrialize. Inbound from execs from the largest private equity firms, banks and VCs. Congressmen and presidential candidates asking to be involved. 200+ companies represented from frontier tech to old industry. We have a struck a chord.
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BTW, this is also why NYC so naturally, and quickly, built a serious start up ecosystem: it is already a massive scene of not only capital, but also top talent (the average Google / Facebook engineer could never get a quant job at P72, DE Shaw, Marshall Wace, Rentech).
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The fun part is that plenty of cities are now a great place to live and build now, there is no best! There are too many variables in your objective function to find a Global Max for all of them. Chill, have a cig, and enjoy. It's ok that folx still move to SF (y r ü mad anon)
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in the last few weeks I have been pitched 2 game changing home building startups, a underground delivery drone à la Super Mario, 2 modern competitors to big food production, a quantum compute startup with real commercial application, 3 co's I cant even mention, all based in USA.
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Being nice isn’t a virtue. We’ve deranged ourselves thinking it is.
People like Paul Graham think people like Kamala Harris have a strong character because they are morally bankrupt but inhabit an aesthetic pose of “politeness”.
They are basically tremendous cowards with no backbone who got deranged by Trump being so audacious.
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Absolutely insane to have a Ukraine flag in your bio and not think it’s important to be able to manufacture things
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Reindustrialize🤝 Y Combinator
In collaboration with @reindsummit and @newindustrials, we are releasing a request for startups motivated by a simple belief: America needs better physical technology, and startups are the best way to build and scale it.
We are looking for founders interested in applying modern software capabilities to the entire stack of industrial production - energy production, materials, CAD, manufacturing, and biotech.
Reindustrialization is a matter of national survival. This is your invitation to build the future.
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Good morning, we are making it in America
Toyota's $14B Battery Plant in NC
- 5000 jobs
- great for local factories/shops, should see spur of new factories to support this plant
- attempting to lower battery costs with new tech
- 7M sqft
- 800,000 vehicles per year
- 14 production lines
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GM we are going to make it in America
You don’t need a four-year degree and tens of thousands of dollars in student debt to land a good-paying job.
➡️ apprenticeship.gov
THANK YOU FOR YOUR ATTENTION TO THIS MATTER.
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Punk rock and hip hop were messy, bloody, loud and wild in the beginning, and got tame once ready for mass adoption. Startups are no different.
Culture and innovation happens in the margins. Even Los Alamos is in the middle of God-damned nowhere; no great schools or Trader Joes.
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It’s hard to believe it’s been less than a year since the idea of the first summit was even conceived of. This movement has grown into a massive revival for the builders and doers, across companies, capital and government, who want to Reindustrialize.
Thrilled to announce REINDUSTRIALIZE 2.0 is returning to Detroit!
We're partnering with Dan Gilbert (@cavsdan), ROCK, and @dvpfund to bring you an even more incredible experience at a stunning new world-class venue.
While remaining invite-only, we're excited to open a limited number of public tickets in April. Join the waitlist now below 👇
Can't wait to reveal our lineup of groundbreaking programming, speakers and companies!
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Breaking from @hntrbrkmedia: China’s DJI, the world's largest drone manufacturer, has disabled U.S. geofencing on its drones, enabling flights over airports, military bases, and no-fly zones.
DJI says it is putting “control back in the hands of the drone operators”
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Would be great to have no cap gains for investment in critical infra
cisa.gov/topics/critical-inf…
instead of crypto getting treatment like this, how about factories or capex or something actually productive for society
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the lineup is incredible. we've been quiet on purpose up till now, but will soon be able to share more. the time is now
WHO'S JOINING: The White House, Congressional leaders, Departments of Defense, State, Commerce, Treasury, tech and legacy manufacturing execs, industrial startups, venture capital leaders, and the largest institutional investors—all driving America's industrial renaissance.
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