War Is a Supply Chain

Mach Industries was founded in 2023 by Ethan Thornton, then 19, after he dropped out of MIT. It has now raised a $300 million Series C at a $1.8 billion valuation, nearly quadrupling from $470 million twelve months prior. The round was oversubscribed at $200 million before Thornton pushed it to $300 million, still oversubscribed. That is not a valuation…