In this episode of "Founders Friday," host Harry Stebbings interviews Ben Marcus, the accomplished founder and CEO of AirMap, a company revolutionizing drone airspace management with over $40 million in funding from major investors. With a background that includes co-founding JetAviva and experience as a flight test engineer and FAA-certified airline transport pilot, Marcus shares his lifelong passion for aviation and how it led to the creation of AirMap. He delves into the future of drone technology, emphasizing the need for automation and safety to extend the benefits of flight to more people. Marcus also discusses the investment landscape in the drone space, highlighting the importance of backing versatile, multidisciplinary teams capable of navigating the industry's complexities and regulatory environment. The conversation touches on the implications of drone hardware commoditization, enterprise solutions, and the potential for drones to significantly impact consumer and commercial markets.
"Now, Ben is the founder and CEO at Airmap, the startup that provides everything one needs to unlock, lock and scale drone operations in the ever changing world of airspace."
This quote introduces Ben Marcus and his company, Airmap, highlighting its role in the drone industry and its significant funding achievements.
"Ben is also an FAA certified airline transport pilot and flight instructor with over 4500 hours of flight experience."
This quote emphasizes Ben's qualifications and extensive experience in the aviation field, positioning him as an expert in the industry.
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This quote describes Naturebox's service offering, emphasizing its affordability and the value it provides to office environments.
"All Lisa mattresses are 100% US or UK made. And for every ten mattresses they sell, they donate one to a shelter."
This quote highlights Lisa's commitment to local manufacturing and social responsibility through its donation program.
"I really fell in love with [flight]. So, you know, when I was four or five years old, I used to read as many books as I could get my hands on about flight."
Ben's early love for aviation is evident from his childhood, showing a lifelong passion for the field.
"Throughout my life, I've really always come back to this primary concept for me, which is how do we extend the benefits of flight to more and more people."
This quote encapsulates Ben's primary mission to make aviation benefits more widely accessible, which has driven his career choices and entrepreneurial ventures.
"I started getting really excited about drones, started researching the whole drone space. There are all kinds of amazing things happening, and really came to appreciate that drones were the next frontier for flight."
This quote reveals the moment Ben realized the potential of drones and decided to pivot his career towards the burgeoning drone industry.## Inspiration for Starting Airmap
"What is the airspace management layer that's going to allow for millions or billions of drones to fly highly automated flights and really deliver capabilities to people in their daily lives. And that was really the inspiration to start airmap."
The quote highlights the gap in drone infrastructure that Airmap aims to fill, focusing on the management of airspace for automated drone flights, which is crucial for the practical integration of drone technology into everyday activities.
"I like to think about what are the key enablers that will take drones from being sort of a cool thing relatively few people are playing with or experimenting with, to really drones benefiting hundreds of millions or billions of people."
This quote summarizes Ben's investment philosophy, which focuses on identifying and investing in technologies that will enable drones to transition from niche applications to widespread use.
"I think there's going to be some significant consolidation."
The quote predicts a trend towards fewer, larger entities in the drone industry as a result of mergers and acquisitions, particularly in specialized areas of the market.
"Having an airspace orchestration element is a critical enabler for their businesses."
This quote reflects the strategic importance of airspace management to the business models of large companies like Amazon and Google, particularly regarding their drone delivery services.
"The biggest companies that have been funded to date have been DJI 3d robotics. They've really taken the majority of the investment, and thus far, it's been really hard to build a great drone."
This quote explains the difficulty in creating successful drone hardware and the investment trend that has favored large companies like DJI, which have dominated the market despite expectations of commoditization.
"It's easiest for folks to really deliver a complete solution to an end user in order to learn exactly what that end user customer wants and to be able to control the entire experience."
The quote emphasizes the initial strategy for drone companies to provide all-in-one solutions, which allows them to fully understand customer needs and manage the quality of the product or service.## Vertical Focus in Drone Industry
"So it makes sense that folks like Kespry are really focused on a specific vertical and delivering a complete solution, both hardware and software."
This quote explains that companies like Kespry are currently targeting niche markets with comprehensive solutions but suggests that for growth, a change towards specialization is necessary.
"But I think on the commercial side, drones become really interesting as a value add to society is when people can benefit from these things without having to even care about the drone."
Ben Marcus highlights the transformative potential of commercial drones when they seamlessly integrate into society, providing services without the need for user engagement with the technology itself.
"Enterprises want answers, right? They don't want complexity. They want to be able to know exactly how much rock is in this pile of rock, or where is vegetation encroaching on my power lines."
Ben Marcus emphasizes that enterprises require straightforward solutions from drone technology, focusing on end results rather than the intricacies of data collection.
"So you need to have some regulation in order for you to have any scaled logistics transportation platform at all."
Ben Marcus argues that regulations are crucial for the orderly and efficient operation of drones in commercial spaces, much like traffic laws are necessary for road transportation.
"Well, I think that the FAA itself probably doesn't care that the largest drone manufacturer is a chinese compa"
The quote cuts off, but it suggests that the FAA's main concern might not be the nationality of the drone manufacturer but rather the safety and regulation of the drones themselves.## Civil Aviation Safety Concerns
"I think that the FAA and other civil aviation regulators like them around the world are purely interested in safety. So the aircraft itself is safe. If the operations are safe, it doesn't really matter where it's manufactured."
This quote emphasizes the primary focus of civil aviation regulators on safety, regardless of the aircraft's manufacturing location.
"Drones have already been used as weapons in the battlefield. So there have been reports of ISIS using drones, for example, carrying grenades and things like that."
The quote highlights the real-world application of drones as weapons in conflict zones, which raises concerns about their potential misuse.
"I'd have to say the wealth of nations by Adam Smith. I think it's a timeless regulation of the laws, of the economics that will last forever."
The quote reflects Ben's admiration for Adam Smith's work and its enduring relevance in economics.
"Newton? Because we can thank him for practically everything we know about motion in the universe."
This quote showcases Ben's respect for Newton's scientific achievements and their impact on modern science.
"The most incredible inventions were developed by people who never graduated from college."
Ben challenges the conventional wisdom that academic success is a prerequisite for innovation and entrepreneurship.
"I really like social capital's weekly snippets email. I think it's pretty good."
The quote indicates Ben's preference for the type of content provided by Social Capital's weekly email.
"I think it's important that you invest in curious, multidisciplinary teams that can navigate a windy path."
The advice suggests that adaptability and diverse expertise are critical factors for success in the drone investment space.
"Well, I think five years from now we're going to be helping millions of drones flying every single day, flying autonomous routes, bringing value to people in their daily lives."
Ben envisions a future where AirMap plays a pivotal role in enabling widespread and beneficial drone use.
"Naturebox is the first ever unlimited snacking program for offices of all sizes, starting with just $12 per month per employee."
The quote describes NatureBox's service, highlighting its affordability and appeal as an office perk.
"And all Lisa mattresses are 100% US or UK made, and for every ten mattresses they sell, they donate one to a shelter."
This quote outlines Lisa's commitment to local production and social responsibility through their donation program.