Kevin O’Leary, the well-known investor behind O’Leary Ventures and Wonder Fund, sat down with Joe Stough, Chairman and CEO of FlyGuys, to discuss the fast-growing commercial drone sector and the role of reality data capture in shaping industries from agriculture to construction. What emerged was a compelling vision for a company poised to revolutionize how enterprises will leverage digital insights.
O’Leary, known for his ability to cut through marketing speak to understand the rationale behind a business, began the interview by challenging Stough on the crowded drone market. Stough reframed FlyGuys not as “just a drone company,” but as a “reality data company.” He further explained that reality data—aerial imagery, LiDAR scans, thermal imaging—is the digital capture of the physical world, accurate to within an inch.
This “new oil,” as he calls it, fuels AI models that drive critical functions: from tracking construction progress and detecting crop disease to inspecting energy infrastructure and responding to public safety risks.
The Unseen Value of Reality Data
To underscore the tangible benefits, Stough provided concrete examples of how FlyGuys’ customers are using reality data:
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Construction firms save millions by catching grading or layout errors early.
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Farmers identify crop diseases weeks before they are visible to the naked eye.
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Utilities proactively find sagging power lines, preventing wildfires.
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Solar energy companies conduct thermal inspections to identify failing panels.
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Major retailers monitor stormwater retention ponds for compliance.
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Commercial real estate owners efficiently survey hundreds of properties to prioritize repairs.
This isn’t just theory; it’s being delivered daily by FlyGuys’ network of over 17,000 FAA-certified drone pilots.
The “Warriors” in the Field: FlyGuys’ Pilot Network
O’Leary turned his attention to the “middlemen/women” aspect of FlyGuys’ business. Stough passionately discussed the critical role of the company’s pilots, referring to them as “warriors” who undertake thousands of missions weekly, often in challenging conditions.
FlyGuys’ commitment to their pilots is paramount: providing direct support, ensuring fast and reliable payments, and offering consistent opportunities to help them grow their local businesses. This dedication fosters “Raving Fans” among their pilots, which in turn drives customer satisfaction and success.
For AI partners, FlyGuys acts as a seamless conduit. Their software platform, connected via APIs, allows AI companies to rapidly ingest nationwide reality data, enabling their own growth and value creation.
Why FlyGuys Will Win: Market Strategy and Team DNA
Addressing O’Leary’s interest in competitive differentiation, Stough highlighted two key points: market strategy and team expertise.
The market for reality data capture is undeniably massive, with billions in unmet demand across diverse verticals like construction, energy, and agriculture. FlyGuys’ business model and technology are designed to scale their data capture service across all use cases and markets, thereby diversifying revenue and mitigating risks associated with economic downturns.
More critically, the FlyGuys team has a proven track record of success. Stough, along with his CMO and CFO, previously scaled a food delivery app from zero to $300 million in revenue and a NASDAQ listing in just five years—a testament to their marketplace hypergrowth expertise. Their Chief Product Officer, alongside Stough, built Syntex’s Operational Excellence enterprise software, reaching 180 countries and 24 languages for global energy giants.
This combination of marketplace scale and operational discipline is the fusion that Stough believes will ensure FlyGuys’ triumph.
The Numbers and the Investment Opportunity
When pressed for numbers, Stough confirmed the multi-billion-dollar Total Addressable Market (TAM) for reality data capture. He offered compelling examples:
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300 million acres of U.S. cropland at $3-$4 per acre: $1 Billion TAM
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60 billion sq ft of commercial roofs at $0.015 per sq ft: $900 Million TAM
These are just two of dozens of vertical markets. FlyGuys itself is experiencing rapid growth, jumping from $4 million in 2023 to $10 million in 2024, with high double-digit growth projected for 2025. The recent $13 million Series A-1 round, led by $3 million from O’Leary’s Wonder Fund, will fuel product acceleration and marketplace scaling. Their ambitious goal: a million missions annually, representing mid-9-figure revenue potential.
Quality at Scale and the AI Partnership
Maintaining quality at scale is a constant challenge, but Stough emphasized FlyGuys’ deep roots in enterprise Operational Excellence. Every mission deviation feeds into a continuous improvement loop, ensuring consistency and quality even as they grow. This commitment allows AI companies to trust FlyGuys to scale seamlessly with their own hypergrowth.
Stough clarified that while many of their customers are directly AI companies, they also serve large enterprise clients who acquire data from FlyGuys to feed into their own specialized AI models. For AI companies, FlyGuys acts as a true partner, integrating into their workflows via APIs to deliver products to their customers. They are the essential “conduit,” connecting AI creators to AI-ready data streams across the USA.
The Vision and The “One Word”
Looking ahead, Stough envisions FlyGuys scaling globally to become the world’s leading reality data marketplace, powering the digitization of our world with a million missions annually. But beyond the ambitious numbers, he stressed the continued investment in their pilots’ success, recognizing them as the “warriors in the field” whose well-being is intrinsically linked to FlyGuys’ overall victory.
In a final question, O’Leary asked Stough for the single word that best explains FlyGuys’ potential success. Without hesitation, Stough replied: “Culture.” He explained that the Golden Rule—humility and respect—is the foundational cultural principle at FlyGuys. This commitment to treating each other, and by extension, their pilots, partners, and customers, with respect and kindness, creates a “feeding frenzy” of positive interaction that he believes is the ultimate key to their success.
The interview painted a clear picture: FlyGuys is not just another drone company. It’s a meticulously built, strategically positioned reality data powerhouse, driven by an experienced team and a strong culture, poised to capitalize on a multi-billion-dollar market.
For investors like Kevin O’Leary and Wonder Fund, the opportunity is clear: FlyGuys is flying high.
Watch the interview here.