The Age Of Free Food Delivery: Manna Air Delivery With Bobby Healy

**SPEAKER_1** (0:01)
Welcome to FYI, The For Your Innovation Podcast.
This show offers an intellectual discussion on technologically enabled disruption because investing in innovation starts with understanding it. To learn more, visit arkinvest.com.

**SPEAKER_2** (0:19)
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**Brett** (0:52)
From ARK Invest, this is FYI, The For Your Innovation Podcast. We've got a great show for you today. There's Daniel Drones Maguire over here. He's our autonomous technology and mobility analyst and expert. And he and Tasha interviewed Bobby Healy, who's the CEO of Manna, a drone delivery company that originated in Europe and is expanding into the US. Hello, Daniel, how are you?

**Daniel Maguire** (1:19)
Brett, good to see you. I've never been called Drones Maguire. I've been called a lot worse before. So I'll take that.

**Brett** (1:26)
So Daniel, I have a question for you. You cover a number of moving objects, call it.
Which of these three things is more likely to be like a regular part of people's lives in the US first? Drone delivery, robo taxi or EV toll like air taxis? Which are we going to see first? Which are people going to like regularly experience first? And by drones, I mean over the air, not the rolling robots. We already have those.

**Daniel Maguire** (1:54)
Yeah. Well, we actually already have two out of those three. So drone delivery is occurring in the US today.
Walmart just previously announced that they've surpassed 1 million deliveries. That's with Zipline, a company in our private portfolio, as well as Wing, which is Alphabet's drone subsidiary. Manna, who hails from Europe, they've completed close to 400,000 deliveries already in Europe. And they're expanding now in the US and Oklahoma. EV tolls are a bit more on the long finger, I believe that the EIPP program is really what a lot of companies are targeting in the US to demonstrate flights. I know the Olympics in LA in 2028 is a big North Star for a lot of those companies. And then robot taxis, again, they're already here today. And Brett, as you know, for disruptive innovation, it's always slowly, slowly at all at once. And it feels like for drones and robot taxis, we're starting to hit that all at one stage. Yeah, I'd encourage everyone to Google your local area. Drone delivery, it's possible it's available for you, if not today, in the next couple of years, as Bobby teased during the podcast, he thinks it'll be proliferated around the US. And same for robot taxis too. And it really seems like we're starting to hit that inflection point.

**Brett** (3:02)
Yeah, it does seem like all at once is about to happen, at least for those two, at roughly the same time. So it will actually be your robotaxing home and you look overhead through the sunroof and you see your meal coming overhead to be delivered on your front door.

**Daniel Maguire** (3:21)
Yeah.

**Brett** (3:22)
So the drone space, it's kind of... There's all of these different players. There's the aggregators, like the door dashes of the world. There's the delivery kind of companies like Zipline, like Manna, also in our venture strategies, in our private strategies. And then there's the individual restaurants. How do you think about kind of like the shifting power dynamics between these three? And if you were to cast yourself forward into the future and said, oh, this part of the value chain captured most of the economics in the future, would it have all pushed out to the restaurants? Would it be in the companies like kind of delivering the goods? Or would it be in these aggregators? Or is it an unfair question?

**Daniel Maguire** (4:05)
Yeah, I actually think that's a great question because the reality is for the consumer, they don't care who delivers it, if an aggregator is involved or not. They just want hot food that's fresh and delivered in a timely manner.
And that's something that Manna kind of has demonstrated in its partnerships to date. They're partnering both with the aggregators, so the likes of DoorDash, Deliveroo in Europe. But they also have their own app as well.
And that gets to the point consumers don't care. But in terms of value of where the value chain leads, really it's all to play for at the moment. If you look at some of the strategies from the aggregators so far, Uber, at least on the robot taxi side, they're partnering with a lot of players. Then you have DoorDash, who is partnering with some players, but they also are developing their internal rolling robot. And so it seems like that they're still kind of putting all of the feelers out to the industry. It's yet to play out, but I mean, it's all to play for. We've done the research and shared it to Tasha by the end of the decade. We think autonomous logistics could have $480 billion of revenue split across not only drones, rolling robots, but also autonomous trucks, which again, are starting to hit that slowly slowly all at once. It seems like we're living in a simulation and we're just starting the most exciting chapter where all of this is starting to take off. So yeah, I think it's all to play for.