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A quick thought from Hadrian founder Chris Power, the self-described “technoindustrialist” who is rebuilding America’s aerospace and defense industrial base with automated factories. Can deep tech companies grow fast and produce the same (or better) returns as SaaS companies? Chris thinks so.
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I'd go further in that deep/hard tech companies are and will continue to produce better returns than SaaS or software companies in general.
I've compared Tesla's revenue growth to the top old-guard tech cos of Google, Facebook, Amazon, etc. Tesla is growing way faster and at comparable operating margins. Same is true for the leading lithium-ion battery companies, which contrary to popular belief, are extremely high tech. CATL, the largest battery company, could be on track to be as large as Tesla by revenue/profit by the end of the decade.
https://www.tsungxu.com/i/79861390/lib-and-ev-producers-outpacing-tech-giants-growth