16/ Blake took half of what he’d saved from Groupon and funded Boom.
He got 10 people working out of his basement before raising outside capital.
17/ When he went to raise, the first person to say yes was @collision.
I invested too. I emailed every good investor I knew. Most weren’t interested.
One of the few who responded? @sama, who later joined the board before starting OpenAI.
18/ Blake raised $770K in that first round.
A tiny fraction of what it would take to build an airliner.
But enough to start.
Since then, Blake and Boom have raised $700M.
19/ Investors include @sama, @patrickc, @collision, @paulg (his largest investment ever), @reidhoffman, @bvp, @ycombinator, Alex Gerko, @jgebbia, @mikemoritz, and more.
These investors deserve tremendous credit for not letting the company die many times over the years.
20/ On January 28, 2025, Boom made history:
XB-1 became the first independently developed supersonic plane ever built.
The 50 people who built XB-1 did what multi-billion dollar aviation giants wouldn’t.
- 8 AM whiskey meetings with industry moguls
- Letters of intent landing the night before Demo Day
- Convincing the world’s top supersonic engineers to join him
23/ But to me, the most incredible part:
The core insight and pitch is unchanged.
The math was always clear. The spreadsheets always made sense.
Blake called his shot. And he was right.
24/ The second most incredible part?
He knew he’d probably fail.
Most startups do.
But he tried anyway.
And because @bscholl dared to try, humans will fly supersonic again.
25/ Thank you @bscholl and everyone at @boomaero for bringing back supersonic flight.
Thank you for inspiring so many future founders, even those stuck in PM jobs at boring tech companies.
Thank you for inspiring us all to believe that we too can just do stuff.
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Biden just said he wants comprehensive crypto regulations.
Time for another explainer thread.
+ What is FIT21?
+ Why is this bill important?
+ What does FIT21 tell us about shifting political alliances and power in the US?
🧵👇
2/ What is FIT21?
FIT21 is the "Financial Innovation and Technology for the 21st Century Act"
You can read it here:
FIT21 is the 1st bill that tries to comprehensively define how the crypto market should be regulated in the USrules.house.gov/bill/118/hr-47…
3/ FIT 21 has a few key areas and provisions:
+Delineates when SEC or CFTC has jurisdiction
+ Consumer protections around transparency and disclosures for promoters and endorsers
+ Prohibits agencies from preventing people from using crypto
+ Asks Treasury to study stablecoins