The Next Elon Musk? Boom's CEO on Disrupting Air Travel

Summary

In this conversation, Blake Scho, founder of Boom, shares the company's journey from its early struggles to its promising future in aviation. Boom's innovative approach, including non-traditional funding from influential figures like Michael Morris and Reid Hoffman, helped them navigate mismatched dynamics in traditional venture capital. With a goal of flying a full-scale supersonic jet and eventually carrying passengers, Boom is now on track to revolutionize the aviation industry. Blake invites followers to join in on this exciting journey, emphasizing the company's openness and transparency as they push toward achieving major milestones.

Takeaways

• 😀 Blake Scholl is the founder of Boom, a company focused on developing supersonic air travel.
• 😀 Boom's XB-1 aircraft, which aims to revolutionize air travel, is under five years away from flying a full-scale airplane and carrying passengers.
• 😀 The company's journey involved overcoming challenges in fund dynamics, with a significant portion of its funding coming from direct relationships with LPs or SPVs, not traditional venture capital firms.
• 😀 Sequoia and Greylock, two major venture capital firms, did not invest in Boom, but influential individuals from these firms, such as Michael Morris and Reid Hoffman, supported the company.
• 😀 Boom’s funding model involved bypassing traditional fund structures that were misaligned with the company’s goals, which allowed them more flexibility.
• 😀 Boom is very transparent about its operations and innovations, with Scholl even suggesting that publishing their CAD database could help the company’s chances of success.
• 😀 The company has created a culture of openness and aims to involve the public in its journey through platforms like XB and Bomero.
• 😀 Blake Scholl views Boom’s mission as part of a larger effort to create an accessible, sustainable future for air travel, with a strong emphasis on innovation.
• 😀 The company aims to generate billions in revenue once it starts flying passengers, marking a significant milestone in their growth.
• 😀 Scholl encourages people to follow Boom’s journey and be part of the excitement of revolutionizing the aviation industry.

Q & A

What was one of the key challenges that Boom faced when raising funding?

One of the key challenges Boom faced was the mismatch between their innovative business model and the traditional fund dynamics. Many venture capital funds weren't a good fit because their investment strategies didn’t align with Boom's ambitious and long-term goals.

How did Boom manage to raise the necessary funding despite challenges in aligning with traditional fund dynamics?

Boom overcame this challenge by building direct relationships with limited partners (LPs) or special purpose vehicles (SPVs) outside of the typical fund ecosystem, allowing them to secure significant investments from individuals like Michael Morris and Reid Hoffman, rather than relying on traditional venture capital funds.

Why did Sequoia and Greylock not invest in Boom initially, despite their recognition of the company's potential?

Sequoia and Greylock did not invest in Boom initially because their fund dynamics were not a good fit for the company's unique and ambitious business model. Instead, individuals like Michael Morris and Reid Hoffman, who were aligned with Boom’s vision, made significant investments.

What makes Boom’s approach to openness unique in the aerospace industry?

Boom's approach to openness is unique because they share a large amount of their data and technical developments with the public. Blake Schoen mentioned that if they published everything in their CAD database, it might even increase their chances of success by drawing more attention and support.

How does Boom aim to make their journey more accessible to the public?

Boom aims to make their journey more accessible by maintaining an open communication style, encouraging people to follow their progress through social media channels like XB and Bomero AERO. They even want to 'cut a hole in the side of the building' so people can get a glimpse of their operations.

What is the projected timeline for Boom’s full-scale airplane and passenger flights?

Boom aims to have a full-scale airplane flying within the next five years and hopes to start carrying passengers shortly thereafter. They project that within five years, the company could be generating billions in revenue.

How does Boom plan to revolutionize the aviation industry?

Boom plans to revolutionize the aviation industry by developing supersonic passenger aircraft, significantly reducing flight times. Their technology is geared towards achieving faster travel, with an emphasis on sustainability and efficiency in aviation.

What role does Blake Schoen envision for others in Boom's journey?

Blake Schoen envisions Boom’s journey as one that others can be a part of. He encourages people to follow the company's progress and be inspired by their openness and commitment to pushing the boundaries of what is possible in aviation.

Why does Blake Schoen believe that sharing their technical data might benefit Boom?

Blake Schoen believes that sharing their technical data could benefit Boom by increasing their chances of success. The more people know about their progress, the more support and attention they will gain, which could enhance their ability to overcome challenges and innovate faster.

What is Boom’s ultimate vision for the future of air travel?

Boom's ultimate vision is to revolutionize air travel by making supersonic flight accessible and sustainable. They aim to create a future where passengers can travel much faster, reducing flight times dramatically, and ultimately transforming the way people experience air travel.