Good morning! This is Dylan Jovine from Behind the Markets. Happy Friday!
This week, as we approach the 4th of July, I've been reflecting on America's past and future. A major point of frustration for me has been the decline of Boeing. Once a great American company, it's heartbreaking to see its downfall. Recently, issues with the Boeing Starliner have left two U.S. astronauts stranded in space.
The problems trace back to the McDonnell Douglas acquisition, where a cost-cutting culture took over, pushing out great leaders like Alan Mulally. Boeing mistakenly thought it could become like Nike, focusing on design and marketing while outsourcing production. But unlike shoes, the failure of aircraft components at 30,000 feet can have catastrophic consequences.
On the flip side, I've been inspired by Elon Musk's achievements with SpaceX. His biography by Walter Isaacson highlighted how Musk revolutionized the space industry by shifting from a cost-plus model to a performance-based approach. This innovation has transformed the relationship between the private sector and the government, sparking a wave of new companies working with the Pentagon under similar terms.
In our War Games report, we cover many of these innovative companies. While Boeing's decline is tragic, the rise of these new aerospace and defense firms, driven by Musk's pioneering methods, gives me hope for America's future.
I hope you have a fantastic weekend. Signing off, this is Dylan Jovine.
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27 июн 2024
