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Other countries want to build their own versions of Silicon Valley. Those pushing the billionaire tax seem determined to destroy the original.

"Asymmetric Warfare Boom" Accelerates As US Army Awards Neros $500 Million For FPV Attack Drones

Defense startup Neros has secured a US Army contract valued at up to $500 million to supply the military with Ukraine-style, low-cost attack drones, reinforcing our view that the "Asymmetric Warfare Boom" is now underway.

As we have told readers, the Department of War's massive push to procure inexpensive, attritable autonomous systems, ranging from loitering munitions and ground robots to drone boats, will create a procurement supercycle and investable opportunities across both public markets and privately held defense companies.

The Wall Street Journal first reported the Neros contract, offering more color on the deal:

Now Neros has secured a contract with the Defense Department valued at up to $500 million to supply its drones to the Army, the company said. The contract underscores the Army's push to become a more modern and leaner force by increasing its drone purchases from around 50,000 a year to at least 1 million within around the next two years, Army officials have said.

Neros's contract comes by way of an Army program designed to provide infantry with first-person-view drones. FPV drones, as they are known, are equipped with cameras that transmit real-time video to a headset worn by the pilot, and with explosives that detonate when they crash into targets. Ukraine builds and uses them in enormous quantity, and with great effect, demonstrating to the world how FPVs can function as low-cost suicide bombers.

. . .

Neros may have cracked the code on both fronts. The company said it is building 1,200 drones a week at its facility in Southern California, and has a plan to reach one million drones a year by 2028. It has to be at least that many, Hichwa said, for China to pay attention.

Latest in drone M&A space:

• "Arms Race Has Started": War Unicorns Enter M&A Phase As Ondas Snaps Up Kamikaze Drone Maker DZYNE

Public companies flagged by analysts at Piper Sandler as benefiting from the US military's drone procurement cycle include AeroVironment, Ondas, Red Cat, AEVEX, Redwire, Insitu, and Teledyne FLIR, while private names include Anduril, Skydio, Shield AI, Quantum Systems, Performance Drone Works, DZYNE, Firestorm Labs, and Neros.

Read the report here. 

Tyler Durden Wed, 07/15/2026 - 21:20

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Trump Endorses MyPillow's Mike Lindell For Minnesota Governor

Authored by Jack Phillips via The Epoch Times,

President Donald Trump on Wednesday announced he is endorsing MyPillow CEO Mike Lindell as the Republican candidate for Minnesota governor, saying he is one of “America’s greatest and most hard working Patriots.”

“Mike will be SPECTACULAR!!! He truly loves Minnesota, as do I, and wants to bring it back from oblivion and embarrassment. He can do it!” Trump wrote via his Truth Social platform, calling Lindell “the ‘Pillow Man.’”

The president added that “nobody has sacrificed more than Mike Lindell in fighting for our country, especially when it comes to Election Integrity.”

Trump was referring to backlash against the MyPillow brand in response to Lindell’s statements following the 2020 presidential election that significant fraud was involved in the contest.

In response, Lindell wrote on X that he is “honored” to have received Trump’s backing.

Lindell is part of a Republican field competing in an Aug. 11 primary for the state’s seat in a bid to replace outgoing Gov. Tim Walz, a Democrat who announced earlier this year that he would not seek reelection. The announcement came after scrutiny of his state’s handling of a widespread fraud scandal that also drew federal attention.

The GOP list includes Minnesota Republican House Speaker Lisa Demuth. On the Democratic side, longtime Sen. Amy Klobuchar (D-Minn.) headlines the field.

In a separate post on Wednesday, Trump criticized Klobuchar as “corrupt” and “incompetent” before he accused Minnesota’s elections of being rigged against Republicans since President Richard Nixon won the state in the 1972 presidential election. He reiterated his support for Lindell in his post.

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Responding to Trump’s announcement on Wednesday, Klobuchar wrote in a post on X: “Mike Lindell is Donald Trump’s choice. I hope to be Minnesota’s.”

While the Trump administration and Republicans have focused on childcare and other welfare fraud accusations in Minnesota, Democrats, including Klobuchar, have focused on the Trump administration’s immigration crackdown that involved federal officers killing two Minnesotans earlier this year, which drew protests in Minneapolis. Klobuchar has mostly avoided direct mention of the childcare programs and fraud inquiries.

Walz, a former Democratic vice presidential candidate, has disputed the Trump administration’s characterizations and said that his administration has moved to tackle fraud in Minnesota, including a statement in December that they “have made systematic changes” to the state’s government.

The Department of Justice has charged dozens of defendants in Minnesota fraud-related cases, and a large majority of them are of Somali origin, with dozens of convictions. The FBI also launched numerous investigations into allegations of fraud at state healthcare and home care providers accused of criminal activity.

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In June, Lindell told a local radio station that, to win the state’s governor’s race, Republicans “need name recognition, which I have.” Previewing a possible battle between him and Klobuchar ahead of the midterm election, he added, “You don’t have the marketing I have and the money I have to raise to market this against Amy [Klobuchar] come fall.”

Klobuchar’s office did not respond to a request for comment by publication time.

Tyler Durden Wed, 07/15/2026 - 20:55

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