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  "notes": "Uses an external expert (Adrian Norris) to build credibility for a short-seller thesis.",
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      "text": "If technology is an unstoppable force, aircraft certification can feel like an immovable object",
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      "text": "THE REPORT AND ALL STATEMENTS CONTAINED HEREIN ARE THE OPINIONS OF GRIZZLY RESEARCH...",
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      "text": "Transitioning from hover to cruise is complex; rotor failure is catastrophic; small rotors are inefficient; Vortex Ring State risks; strong downwash/outwash risks.",
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      "text": "Adrian has further content... If technology is an unstoppable force, aircraft certification can feel like an immovable object... technical ambition without a clear path to certification is a recipe for delay, disappointment and financial loss.",
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      "text": "Adrian Norris, Aerospace Advisor with over 30 years’ experience, and co-founder of an aircraft development company has posted some enlightening content on this very topic:",
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      "text": "\"velocities that are produced by [...] eVTOL aircraft could be as two to three times those that are produced by conventional helicopters that have the same weight\" — UK CAA study. \"If technology is an unstoppable force, aircraft certification can feel like an immovable object\" and \"For investors, this should be a cautionary tale: technical ambition without a clear path to certification is a recipe for delay, disappointment and financial loss\" — Adrian Norris.",
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      "text": "12. https://www.linkedin.com/pulse/whats-going-evtols-adrian-norris-y7flf/ 13. https://www.linkedin.com/pulse/electric-aircraft-hard-change-adrian-norris-vagrf/",
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      "text": "Figure 3: Post by Adrian Norris on why certifying eVTOL aircraft is so difficult.",
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      "text": "Archer Aviation, The Nikola of the Skies",
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