Archer's 740X Investment Return

Marc Lore shares the story of how a couch conversation turned into a multi-billion dollar flying car company.

"Two founders came over and sat on this couch right here. They said they had this vision for flying cars - passenger drones that carry passengers. They explained why it was the right time, how big the industry would be, and why the technology would work.

They needed $5 million initially to hire the best engineers in the world, then planned to raise $50 million to build state-of-the-art aircraft. I thought the founders were exceptional, so I gave them the $5 million and helped them hire the engineering team and raise the $50 million. That was two years ago.

They just raised $1 billion through a SPAC, and now it's a $3.7 billion market cap company. It was really just an idea on this couch two years ago. Rather than going through the typical seed funding process, we gave them $5 million upfront, got the team, and simultaneously raised $50 million. In very short order, they had $55 million and the best team. I think they've built the very best aircraft in the industry right now."