They say that the ones who are crazy enough to think they can change the world are the ones who do, and Brett Adcock belongs to this group of people. He and his business partner, Adam Goldstein, had a fascination for aviation for a long time despite working in the financial services industry. They got tired of the congestion on the roads thus decided to start Archer Aviation. The two visionaries sold a company they were already operating for $100 million and used the proceeds to fund Archer. It plans to go public soon, but there is little known information regarding the CEOs and the company. Today, let's tell you more about Adcock, the co-founder and co-CEO of Archer Aviation.
1. He is a Man of His Word
In 2020, Archer disclosed that it would be ready to unveil its first aircraft in 2021, information obtained from Adcock and Goldstein. The plan to have the first company's electric aircraft in the air is already underway, and the demonstrator plane will be unveiled later in 2021. It will fly at a maximum speed of 150 mph for 60 miles while carrying four passengers and being flown by only one pilot. The passengers should have an average weight of 225 pounds, and each should carry luggage of no more than 25 pounds.
2. He Kept His Business under the Radar
We are advised to keep our cards close to the chest because what people don't know, they can't ruin. As a fairly new business, Archer needed time to develop its idea to revolutionize air travel. Consequently, Adcock and his team have remained mysterious, and although tongues have been wagging, there is not much to tell. Perhaps he learned from the numerous companies that have had to sue when their trade secrete were leaked how important it is to remain secretive. For a startup, it would be risky to share business ideas then have someone else copy them.
3. He Prefers Keeping His Personal Life out of the Media
Adcock likes to leave his personal life away from the prying eyes of the paparazzi. While he barely reveals information about his company, the entrepreneur does not talk about his family in interviews. Most celebrities have learned the hard way the importance of being tight-lipped, especially regarding their personal lives, so maybe Adcock is borrowing from a leaf from them.
4. Baseless accusations of Trademark Infringement
According to eVOTL, Piper Aircraft, a general aviation aircraft manufacturer, filed a complaint that Archer Aviation company name was infringing on the trademark for Piper Archer product line. Piper filed the complaint at the United States District Court on August 28, 2020, claiming that since 1976, it has been using "Archer" to refer to its light planes. It even filed the trademark in 1976 and renewed it in 1998 to update its use to refer to its aircraft. Piper accused Archer Aviation of cashing in on their reputation, goodwill, and extensive recognition, but Adcock and Archer Aviation's lawyers did not respond to the accusations.
5. He Invested in SpaceX
Adcock could not help but speak about his admiration for Elon Musk during his interview with Inverse. He and Goldstein revere Musk so much that they invested in SpaceX. Although it is not clear how much they invested, the two co-founders further added that Musk was bringing the magic back to flight, and it was their duty to continue. With such enthusiasm for SpaceX, the entrepreneurs must be looking forward to the rocket launched that Musk has planned for 2021.
6. He is Brilliant
Goldstein and Adcock go way back to when they were searching for jobs in a hedge fund. As Goldstein narrated, he and Adcock went to the University of Florida and happened to apply to work in the same company. The recruiting manager made fun of him and Adcock for going to the University of Florida. They were mocked for applying for a position that had attracted applicants from Wharton, MIT, and Stanford, yet when Adcock went in for an interview, Goldstein said he blew away the hedge fund recruiting panel.
7. He is an Opportunity Grabber
After Adcock and Goldstein met at the hedge fund where they were looked down on based on the University they attended, they decided to level the playing field. According to Business Insider, the two realized how hard it was for employers to find the right candidate by sifting through the numerous applications. Therefore, they developed the Wall Street Admission Test. It helped assess different skills that the prospective employers were looking for, instead of recruiting based on GPA alone or where the candidate went to school. The site ended up being called Street of Walls.
8. He and Goldstein Co-founded Another Company
Adcock's mind seems to always be wondering what he can do to solve a problem. Even after creating the Street of Walls to help employers find the right candidates, he and co-CEO decided to improve their idea to establish Vettery. Instead of relying on a site alone, employers could reach out to the firm, and by 2014, after operating for a year, the company was proud to announce that it had made 100 placements. Vettery collected every bit of information of industry professionals and said that unlike LinkedIn, where recruiters have to search for a candidate, Vettery already knows who the right fit is. They got lots of clients because they charged 15% of the hire's base salary while other competing firms charged 30%.
9. He Ran a Blog to Train People
Goldstein revealed to Indie Hackers that he and Adcock started a blog in 2009 because they were frustrated by how severely unprepared job applicants were. Since they were working in the financial sector, the two entrepreneurs knew what it took to land a job in the industry. The blog, therefore, aimed to train job seekers and equip them with skills needed in financial services.
10. Why He Sought to Recruit Employees from Major Rival Companies
If you want to soar like the eagles, you must ensure that the people you surround yourself with are not weighing you down but are instead the wind beneath your wings. Adcock, therefore, knew that to take Archer to great heights, he had to look for exceptionally skilled talent. He consequently hired engineers and employees who had experience working in major aircraft companies.
Written by Allen Lee
Read more posts by Allen Lee