Avichal - Electric ϟ Capital Profile picture
Jan 29 25 tweets 6 min read Read on X
1/ This screenshot is floating around and I know the back story.

How did a Groupon PM go on to build a supersonic airplane company?

Here is the little-known and tremendously inspiring story of how @bscholl started @boomaero (and my very small part in it)

👇 Image
2/ How Blake started Boom is one of the most inspiring founder journeys I know.

It’s proof of what’s possible if you:

a) Think from first principles

b) Find something you believe in so much that you'd be proud to try - even if you might fail (a Blake quote)
3/ I’ve known Blake since I was 13.

He ran an ISP in high school and gave me my first job writing a JavaScript menu for a website gig he had.

Look at this high school photo and tell me that doesn't scream future founder? Image
4/ Fast forward:
Blake was a rising star at early Amazon (he was around engineer 200). Had he stayed, he’d likely be a top exec today.

Instead, he left to be the first employee at a hot startup. It failed.

Then he started his own company. That failed too.
5/ Eventually, his company was acqui-hired by Groupon.

He was absolutely miserable.

After years of trying -- and failing -- at startups, it was clearly weighing on him.
6/ I saw Blake regularly back then.

Flying had been one of his passions since he was 19. He’d rent small planes and fly out of Palo Alto. I lived nearby so we’d hang.

But when we talked startups, he was disillusioned.

(That's not me next to him. That's his daughter.) Image
7/ One day, we talked about aero-related ideas

He mentioned that years earlier, while waiting at an airport, he’d asked himself:
Why do people not like flying commercial?
Why are planes so slow?

But he dismissed it-he didn’t even know how a plane flew.

Who was he to fix it?
8/ Finally, he couldn’t take working on coupons anymore.

He quit.

He couldn't not think about planes. So he decided to learn how a plane works from first principles.
9/ His then-wife asked him to take no more than a year to figure out a startup idea.

So he got textbooks. Re-taught himself calculus, fluid dynamics, and physics.

He built a spreadsheet model of how a plane flies and how an airline business works to test his understanding.
10/ Strangely, according to his spreadsheet model, we should be flying supersonic.

And airlines would actually make more money doing it.

But no one was trying to build supersonic planes...
11/ Could someone with no aeronautical engineering training have figured out something the trillion-dollar aviation industry overlooked?

Probably not, he thought. There must be a bug in the model.

He contacted a Stanford aero professor to help find the bug in his spreadsheet.
12/ After 45 minutes of digging in to the model, the professor said:

"The calculations are correct. Actually, they’re too conservative. You could do even better."

Blake walked out thinking:

“Either I have no courage, or I have to start a supersonic airplane company.”
13/ Not long after, Blake emailed me to catch up.

We met on a Saturday morning at Facebook, where he walked me through the math and his vision.

For the first time in years, my friend—who had been so beaten down—lit up.
14/ The numbers were clear. The math checked out.

But he wasn’t the bold and confident childhood friend I knew. He was apprehensive and timid.

I realized: He didn’t need my opinion.

He needed someone to believe in him again.
15/ So I told him: You should do it. (Even though I thought he was crazy and it probably wouldn't work).

And said that if anyone could pull it off, it was him. (Which I firmly believed and continue to believe).

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.

21/ Boom now has nearly $25B+ in pre-orders from United, American, JAL, and others.

Enough to sustain production for five years.

Commercial supersonic flight is coming back.

22/ There are so many untold stories:

- 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.Image
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. Image
Image

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Avichal - Electric ϟ Capital

Avichal - Electric ϟ Capital Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @avichal

Jan 23
🚨1/ President Trump just issued a MAJOR executive order that touches on everything crypto.

This is a BIG deal: stablecoins, Operation Chokepoint, developer protections, a new Crypto Task Force, and a Digital Asset Strategic Reserve

A breakdown of what @realDonaldTrump signed:
2/ Protecting economic liberty

Americans are guaranteed the right to:
Use open blockchains without fear of persecution.

Self-custody digital assets.
Develop and transact freely.

This directly counters tactics like Operation Chokepoint
3/ Promoting the dollar through stablecoins

The order prioritizes the growth of dollar-backed stablecoins to ensure the U.S. dollar remains the backbone of global commerce.
Read 12 tweets
Dec 13, 2024
There were several new sections in the @ElectricCapital Developer Report this year, beyond the high level developer stats

I'm highlighting a few below, segmented by area of interest (NFT, DeFi, Stables, L1s, Geography) for ease of access

👇 Image
Where is on chain innovation happening? Who writes the most new, unique code? From @0xren_cf

What's happening with NFTs? Are NFTs dead? Which ecosystems are working and which behaviors are scaling? From @kateli_nyc

Read 7 tweets
May 22, 2024
1/ The US House is voting on FIT 21 today.

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?

🧵👇 Image
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
Read 16 tweets
May 16, 2024
1/ The US Senate just voted 60-38 to overturn SAB 121

This is a BIG deal!

It is the 1st crypto bill to get to the President

It also sends a message to @SECGov that they are screwing up

What is SAB 121?
Why is this vote a big deal?
How did the banks help crypto win here?!

👇Image
2/ SEC Accounting Bulletin 121 was released in 2022.

It required digital asset custodians to treat digital assets as liabilities and hold them at fair value on their balance sheets.

Why is this a problem?
3/ There are many problems with SAB 121.

The biggest issue:

If a bank custodies $1b of Bitcoin for customers, they have to hold $1b in cash to offset this "liability" on their balance sheet

This makes no sense. The assets are not the company's. They are the customers'.
Read 18 tweets
Mar 24, 2023
1/ The US has lost its global lead in crypto & blockchain developers.

This is a policy disaster for the US.

Almost every other region understands the potential of these technologies and how to regulate reasonably.

We see this daily. Amazing founders are leaving the US 👇
2/ In the @ElectricCapital portfolio alone, founders of companies/protocols worth $5B+ have left the US and given up permanent residency.

@solana, @NEARFoundation, @cosmos host their developer conferences outside the US

The center of gravity of @Polygon is in Dubai and India
3/ @binance is the world's largest exchange despite @coinbase having a head start and spending millions on compliance every year

Even well-intentioned projects now block users from the US, North Korea, Iran, and Syria. <-- how crazy is that list?!
Read 9 tweets
Apr 19, 2022
1/ People are surprised to learn @ElectricCapital's team is 68% software engineers and designers

Why does a VC firm need engineers?

Because Crypto will do to TradFi & venture capital firms what the Internet did to retail & media companies.

🧵👇

mirror.xyz/electriccap.et…
2/ When @pmarca wrote "Why Software is Eating the World" he noted every business must become a software business

Software companies deliver better products, have big moats, acquire customers at lower CAC, and have better margins.

To compete, every company must be software-first
3/ Legacy companies had huge head-starts and resources vs. software startups...but they still lost.

@Walmart has not been able to compete against @Amazon.

Newspapers lost to @Twitter and @Facebook.

Why?
Read 17 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(