Dimitrios Kottas

The US is firing limited advanced munitions - TLAMs, PAC-3s, JASSMs - at a breakneck pace, but replenishing them will take years and billions. Iran is waging a cost-imposing battle on the US defense industrial base -- and its working. @business gift link: bloomberg.com/news/features/…

Our CEO Dimitrios Kottas (@DimitriosKottas) took the stage at the Goldman Sachs Disruptive Tech Conference in London, sharing Delian's perspective on the defense landscape ahead. Some highlights from his message: 1. “We are not in a 1–2 year cycle; we are entering a 20‑year Cold War–type era. Defense spending will have waves, but the structural shift is here to stay.” 2. “For 10+ years there were no significant procurement events. Defense budgets in Western Europe were at 0.2–0.3% of GDP when the NATO guideline was 2%. During the Cold War, the same ratios were 5%.” 3. “Legacy procurement was built for peacetime: super‑optimized for transparency and fairness, but not for speed or urgency.” 4. “Western governments now need to react quickly and at scale. That means a lot of procurement and a lot of low‑friction changes in how procurement works.” 5. “Some defense primes show real foresight: they’re collaborating with startups, small machine shops, and SMBs to dramatically accelerate their processes.” 6. “We are shifting from procurement for peacetime to procurement for wartime. That mindset shift is as important as any new technology.” 7. “We are arming during a golden era so that we have one, one way or the other. Booms always come with risks and bubbles, but inaction is a bigger risk.” 8. “The rivalry between the West, especially the US and China will drive geopolitics for the coming decades, and defense investment is simply catching up with that reality.” At Delian, we believe that preparing now, boldly and decisively, is the only responsible path forward. Inaction is the greatest risk of all. Proud to share our vision with world-class investors at such a pivotal time.