Ann: Hadrian X departs Australia bound for Florida, page-262

Thanks for the share Storm. It was a good find.
I have only listened to the first 5 minutes of the preso, given I am at work, but one thing is for sure, that given the size of the problem and market, there is room for many many players in robot bricklaying.

From what I can interpret, the general understanding seems to be that concrete additive construction is stupid, inferior and doomed to fail.
The laying of QC blocks is the only way forward. It's scaleable, it's repeatable, it's quality controlled, it requires less work on-site and therefore more work performed through automation in factories, it's less labour intensitve, it's better insulating, it's more robust, it's better insulating, it's more adaptative, it requires no water, it's less succeptable to issues with mixtures, it's more robust against laying temperatures, it dries quicker, it probuders straighter lines, it does not look like a dogs breakfast, etc etc etc etc.

I would also suggest that while Icon may be able to get away with copying FBR's DST for concrete additive construction, I believe it would be harder to copy it for robotic brick laying without contravening FBR patents. With that said, even if they do, again given the size of the problem and market, I believe there is a huge runway for growth for any company able to play in this space.

Of course I could be wrong, but the way my tiny brain works is I always think probabilistically and not in absolutes. My best guess, based on available information is that FBR offers a good risk/return profile. For me it's that simple. Execution is needed but there is a path to FBR being one of the largest companies in the world. As an investment prospect, it's small, playing in a large market and offering a very unique product with a defined competitive advantage. Probabilistically, it makes sense to me for investment.

This is not investment advice. Do your own research, etc etc. I could be wrong, etc etc.