I dropped out of high school…Now I’m building a $1T dollar company - My First Million Recap

Podcast: My First Million

Published: 2025-05-07

Duration: 1 hr 11 min

Guests: Blake Scholl

Summary

Blake Scholl shares his journey from a high school dropout to the founder of Boom Supersonic, a company building a commercial supersonic jet to revolutionize air travel. He describes the challenges of creating breakthrough technology and securing $700 million in funding, while aiming for passenger flights by 2029.

What Happened

Blake Scholl discusses the genesis of Boom Supersonic, tracing his early fascination with flight and his realization that no one had innovated beyond the Concorde's 1960s technology. Using first principles thinking, he identified poor fuel economy as the key problem that led to the Concorde's failure and reverse-engineered a potential solution.

Scholl recounts his journey of self-education, teaching himself aerodynamics and physics from scratch after leaving Groupon. He worked out of his basement, balancing the challenge of learning with a tight financial runway, while raising three young children. He describes how he structured his personal finances to allow for two failed startups before needing to return to a traditional job.

He explains how he overcame initial skepticism to secure $5 billion in pre-orders from airlines like Virgin Atlantic during Boom's early days. Scholl shares how he leveraged high-agency tactics, like ghostwriting emails to Richard Branson, to secure pivotal deals. The Virgin partnership was announced at Y Combinator Demo Day, helping to cement Boom's credibility.

Scholl highlights Boom's current milestones, including successfully breaking the sound barrier with their XB-1 prototype. He credits the company’s persistence and its ability to overcome annual existential challenges as key factors in their progress.

The conversation also dives into Scholl's belief in first principles thinking and the importance of tackling problems hidden in plain sight. He argues that major opportunities, like supersonic flight, are often ignored due to the bystander effect where people assume someone else is already addressing them.

Scholl reflects on his experiences working at Amazon early in his career, where he built one of the first automated ad-buying systems. He shares his admiration for Jeff Bezos’s ability to identify novel insights and emphasizes the importance of taking accountability in high-stakes environments.

Finally, Scholl outlines Boom's ambitious timeline to roll out its first commercial jet in 2027, with passenger flights by 2029. He encourages founders to pursue the most ambitious goals they can imagine, arguing that success or failure is secondary to the transformative experience of striving for something extraordinary.

Key Insights

• The Concorde failed not because supersonic travel was unviable, but due to poor fuel economy that priced tickets out of reach. Blake Scholl reverse-engineered a solution by starting with the physics of efficient flight and rejecting assumptions baked into 1960s design.
• Blake Scholl taught himself aerodynamics and physics in his basement after leaving Groupon, budgeting for two failed startups before needing a traditional job. His risk model shows how financial planning can buy you time to chase improbable goals.
• Boom Supersonic secured $5 billion in pre-orders, including Virgin Atlantic, partly by ghostwriting emails to Richard Branson himself. High-agency moves like this turned early skepticism into credibility, with their Virgin deal announced at Y Combinator Demo Day.
• The XB-1 prototype broke the sound barrier, but Boom faces existential challenges every year to stay afloat. Scholl argues these constant crises are what force the team to stay sharp, turning near-failure into progress.

Key Questions Answered

How did Blake Scholl secure $5 billion in pre-orders for Boom Supersonic?

Scholl leveraged high-agency tactics, including ghostwriting emails to Richard Branson, to secure a $2 billion LOI from Virgin Atlantic. This announcement, made at Y Combinator Demo Day, validated Boom’s credibility and helped attract additional pre-orders.

What does Blake Scholl say about first principles thinking on My First Million?

Scholl describes first principles thinking as understanding the root causes of problems rather than relying on surface-level assumptions. For example, he identified poor fuel economy as the primary reason for the Concorde's failure and worked to solve it with modern technology.

When will Boom Supersonic’s commercial jets be ready for passengers?

Boom plans to roll its first commercial jet off the production line in 2027, with passenger flights targeted for 2029. The company has already achieved significant milestones, including breaking the sound barrier with its prototype XB-1.