What It Takes to Clear a Million Crimes a Year with Flock Safety's CEO

Bullish:

• $FLOCKSAFETY - Flock Safety is experiencing rapid growth with over $500M ARR, deployed in 6,000+ cities covering 50% of US population, and helped clear over 1 million crimes last year. The company has strong unit economics with hardware becoming profitable.

  • “last year, we helped clear just north of a million crimes in America”

    Garrett·7:11

  • “it's just over 6,000 cities. Mhmm. So it's, like, well north of 50% of America that's covered by flock”

    Garrett·11:37

  • “the core business now is profitable, which is great. Like, we'll generate free cash flow, hundreds of millions of dollars of operating cash flow this year”

    Garrett·1:12:10
• $PUBLICSAFETY - Public safety technology market is consolidating with only three major players (Motorola, Axon, Flock) and significant barriers to entry. The market has massive domestic opportunity with potential for $5-15B in revenue.

  • “when I look at the domestic opportunity, you know, we should be able to get to $5.10, 15,000,000,000 of of revenue in America”

    Garrett·50:03

  • “The last company to go public was Axon. They went public in 2005”

    Garrett·56:00

  • “there's just not enough space for seven competitors. It is it won't the market's not big enough, and we're not creating new cities”

    Garrett·59:37
• $MOT - Motorola Solutions dominates the public safety market with $90B market cap, 80% global market share in land mass radios, and has done 40 acquisitions in the last two years showing strong consolidation strategy.

  • “It's it's Motorola who's the biggest. They're about a $90,000,000,000 mark cap, a 120 years old, invented the radio, still are the I think they have 80% market share globally of land mass radio”

    Garrett·56:29

  • “I think Motorola's done 40 acquisitions in the last two years”

    Garrett·1:00:09
• $AXON - Axon has grown from a $50M IPO to $40B market cap, successfully expanding from tasers to body cameras and other law enforcement technology, showing strong execution in public markets.

  • “Second one would be Axon. Like I said, public in 2005, about a $40,000,000,000 market cap”

    Garrett·57:20

  • “I think they went out at like a $50,000,000 market cap. This is like when people went public much earlier, and just has done a really good job of growing the business in the public markets”

    Garrett·58:01
• $DRONES - Drones are transforming law enforcement with 68-second response times vs 7.5 minutes for police, replacing dangerous pursuits and helicopters at dramatically lower costs.

  • “Their average response time to a 911 call is seven and a half minutes. Their drone from us gets there in sixty eight seconds. It's just like a better quality of service”

    Garrett·0:16

  • “the incremental cost is less than the cost of one single officer”

    Garrett·1:05:00

  • “it's really nice when you see technology deliver both, like, a 10x better product at a dramatically lower cost”

    Garrett·1:05:05

Bearish:

• $RETAIL - Organized retail crime is evolving to target distribution facilities with sophisticated operations, with Walmart reporting nearly $1B in theft last year while criminals shift to higher-value targets.

  • “for someone like Walmart, I think they reported just shy of a billion dollars of theft last year, so that's a lot of money”

    Garrett·42:54

  • “where the criminals have moved is to the distribution facilities. It's safer and bigger loads”

    Garrett·43:22

  • “They went and bought a legal, well running freight broker. They now own this asset, and they bid on all these low bid on all these projects, show up with real paperwork, fill up a 20 foot with product, drive away, dissolve the company. $7,000,000 in a single day”

    Garrett·43:35
• $CHINESECAMS - Chinese camera manufacturers like Hikvision are winning international deals through government subsidies but face data sovereignty concerns and potential regulatory backlash.

  • “we got all the way to the finish line, and it was us versus Hikvision. Hikvision is a is a Chinese camera manufacturer, arguably a subsidiary of the CCP. And we were almost 10 times the price”

    Garrett·51:09

  • “we're not competitive with China, not because our products aren't better, I think they're much better, but we're not being subsidized by the federal government”

    Garrett·52:50

  • “80% of the cameras are Chinese manufactured. And your average would be business owner is like, yeah, I got it for $15 on Amazon”

    Garrett·53:10