Rick Smith is CEO and Founder of Axon Enterprise, Inc. (NASDAQ:AAXN). Mr. Smith founded the original company, TASER, in 1993. In his exclusive interview with the Wall Street Transcript, Mr. Smith reveals his strategic plan to increase the valuation of his company dramatically through the development of several new businesses based on the TASER using community. The CEO and Founder also believes that keeping a tight rein on new business development is an intrinsic management philosophy for Axon: “…Right now, we’re laser-focused on the public safety space because sort of the whole idea of body cameras and improving police accountability has created such incredible momentum that, at this point, we found it best to just stay focused because we believe we can consolidate a very strong and defensible position in public safety.”
This corporate focus will lead to massive value creation as Axon “…core value proposition is what we’re building is sort of the Apple (NASDAQ:AAPL) ecosystem combined with the Salesforce (NYSE: CRM) enterprise software that you can run an entire national or international law enforcement and public safety community on, and we think that’s a highly defensible and very valuable business proposition.”
Rick Smith is basing this ecosystem on an “expansion in artificial intelligence. We purchased two AI companies earlier this year, and if you think about the application of AI, we have this amazing opportunity that today we store and manage video for the majority of the largest police agencies in the country. We have over 13 petabytes of data; it’s 13,000 terabytes of data. It’s one of the largest data sets in existence…Our data set is several times the size of Netflix’s entire video streaming library…”
To understand more of this massive value creation promise, read the entire interview with Rick Smith, CEO of Axon Networks, in the Wall Street Transcript.