It’s not a storm — it’s the climate

It’s not a storm — it’s the climate

1 October 2025

Baillie Gifford the best Growth Investor you have never heard of!

In this first Category Leaders Episode, Colin Brown and Martti Wallin unpack the story, playbook and framework of Baillie Gifford (BG), the best Growth Stage investor in the world.

A Category Leader that delivers phenomenal returns by investing in other Category Leaders.

Based in Europe. Best in the world.

TAKEAWAYS:

  • Baillie Gifford is a global leader in growth stage investing.
  • The company has a long-term investment outlook, focusing on decades rather than quarters.
  • Founded in 1907, Baillie Gifford has a rich history tied to the British Empire.
  • Their first major investment was in a Malaysian rubber plantation which helped power the Model T Ford.
  • The firm operates as a private partnership, emphasizing intellectual curiosity.
  • Baillie Gifford’s culture prioritizes character over traditional metrics in hiring.
  • The company has successfully navigated multiple economic crises over its history.
  • Their investment strategy includes a focus on investing in category-leading companies not themes.
  • Japan served as a significant learning ground for Baillie Gifford’s investment approach.
  • Their early investment in Amazon and Google set the stage for future successes.
  • Tesla was a controversial investment that paid off significantly.
    The firm has shifted its focus towards more private companies simply because in the 2000s the companies Baillie Gifford invests in are staying private for longer.
  • Investing in defense companies poses ethical challenges and requires careful justification which BG has worked hard to articulate with Security coming before ESG.
  • China remains a complex investment landscape with both opportunities and risks.

It’s not a storm — it’s the climate

It’s not a storm — it’s the climate

Can This Tech Fix the Military’s Biggest Weakness?

1 October 2025

In this episode of the Protect Europe Podcast (PEP), Colin Brown talks with Henry Härm and Oliver Tiit two of the co-founders of Wayren, a company focused on providing reliable communication solutions for defense forces.

They discuss Wayren’s vision for the future, the founders’ military backgrounds, current operational challenges, and the importance of reliable communication in modern warfare. The conversation delves into the technical aspects of communication protocols, the impact of packet loss, and the role of hardware in their solutions.

The Founders highlight the feedback from military exercises, the role of strategic partnerships, and the challenges of military procurement.

TAKEAWAYS:

  • Wayren aims to revolutionize communication in the defense forces.
  • Reliable communication is essential for effective military operations.
  • The founders’ military experience informs their product development.
  • Current operations focus on scaling sales and production readiness.
  • De-centralized communication systems enhance resilience in the field.
  • Packet loss significantly impacts communication effectiveness.
  • Innovative protocols are needed to handle high packet loss rates.
  • Hardware plays a crucial role in ensuring practical usability.
  • Feedback from military exercises highlights the system’s reliability.
  • Strategic partnerships can enhance sales channels and market reach.

It’s not a storm — it’s the climate

It’s not a storm — it’s the climate

Why Satellites Could Decide the Future of Defense

1 October 2025

In this episode of the Protect Europe Podcast (PEP), Colin and Vesa talk with Pekka Laurila, co-founder of ICEYE, about the company’s ambitious vision for 2035, its current operational focus, and the exciting use cases of its imaging radar technology in the defense sector.

Pekka discusses the scaling of satellite launches, the economics of production, and the dynamics of their growing global team. 

TAKEAWAYS:

  • In 2035, ICEYE aims to be a key player in digital infrastructure.
  • The company has been doubling its revenue every year for the past decade and is currently at the 100M range.
  • Imaging radar technology is revolutionizing defense operations.
  • The number of satellites directly impacts coverage and response times.
  • Economies of scale in satellite production are complex and challenging.
  • The team is approaching 1,000 members, with a significant presence in Finland.
  • Bottlenecks in growth include physical constraints and supply chain issues.

It’s not a storm — it’s the climate

It’s not a storm — it’s the climate

Why Defense Tech needs to see clearer

30 September 2025

In this episode of the Protect Europe Podcast (PEP), Colin & Vesa talk with Urho Konttori, serial founder and now CEO of Distance Technologies one of the leading defense companies in Europe.

TAKEAWAYS:

  • The vision for Distance Technologies includes a coherent operating system for defense across Europe.
  • Execution on both civilian and defense markets is crucial for success.
  • Ethical considerations are paramount when engaging in defense technology.
  • Public opinion in Finland has shifted significantly towards defense post-Ukraine invasion.
  • Capital funding for hardware startups in Europe remains challenging but is improving.
  • The defense sector needs to move from hibernation to active engagement.
  • Collaboration with defense primes is essential for market validation.
  • The startup ecosystem in Europe is evolving, with more interest in hardware.
  • Investing in satellite companies is critical for European sovereignty.
  • European founders may prioritize quality of life over continuous entrepreneurship.