David Rosenthal: belief

Transcript context

…Big one in my mind is an industry prize. What a fun concept that provides an immense amount of leverage on the initial dollars raised, that brings in so many more people to an ecosystem, that stimulates way more innovation than you would have if you just took that same amount of capital and ploughed it into a single company trying a single thing. Of course, there's way more losers because if you don't win the prize then you spent your millions trying to achieve something, not only did you fail, but you also didn't win the prize to get reimbursed for your costs. But you don't see it in that many other industries. It's very interesting how this seems to be unique to aerospace and space. The only other one that comes to mind in our world is the Netflix prize. I think to run this playbook, you have to have something that is so sexy that people are going to want to do it. There's also the DARPA competition with autonomous driving. You're not going to be able to run this playbook if you're building a SaaS company. Right. I can just imagine the launch website of someone trying and Twitter just hating it.…

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