Mission Matters Podcast

How do you prevent a war that would reshape the global order? Eyck Freymann, Hoover Fellow at Stanford University and author of Defending Taiwan: A Strategy to Prevent War with China, joins Mission Matters to explain why Taiwan sits at the center of US-China competition and what it will take to keep the peace.

Eyck explains why Taiwan’s place on the first island chain made it strategically vital decades before it made semiconductors. He covers how Taiwan’s divided domestic politics shape its relationship with Washington and Beijing, and what the Berlin crises of the Cold War can and can’t teach us about resolve. He also walks through what a Chinese amphibious invasion would actually require, why Xi Jinping’s gradual approach looks so different from Putin’s in Ukraine, and which technologies matter most for Taiwan’s defense, from uncrewed surface vessels to integrated air and missile defense.

The conversation closes on the threat Eyck believes Washington is least prepared for: a hybrid gray zone campaign against the sea lanes, undersea cables, and infrastructure the global economy runs on, now accelerated by AI.As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/

Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

In this episode of the Mission Matters Podcast, Maggie Gray and David Rothzeid sit down with Jesse Kallman, CEO & Founder of Danti AI, to discuss how Danti deploys AI “intelligence analysts” that fuse satellite imagery, open-source data, maritime signals, and sensor feeds into cited, ready-to-brief answers. He walks through real deployments: automating port and airport damage assessments after the Venezuela earthquakes for US SOUTHCOM, and standing up a shared intelligence terminal for eight-plus NATO countries in under three hours during exercise Trojan Footprint.

We also get into where Danti fits alongside Palantir, why “data sovereignty” is driving the international market, what it actually takes to deploy software inside a government network, and why a general-purpose model like ChatGPT or Claude can’t do this out of the box.

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

On September 30, Secretary Pete Hegseth signed a memo titled Project Agincourt: Pathway to the Autonomous Warfare Command, a plan for a new four-star command built around autonomous warfare. It would be the first functional combatant command stood up from scratch since SOCOM and TRANSCOM in 1987.Maggie and David bring on Bill Greenwalt of the American Enterprise Institute, former Deputy Under Secretary of Defense for Industrial Policy and a longtime Senate Armed Services Committee staffer, for an emergency breakdown.What is a combatant command in the first place? Why is building a new one so rare? And does this turn into a real speed play for autonomy, or just another layer of bureaucracy? Greenwalt's test is simple: are builders working side by side with operators, or three chains removed through the primes and integrators?Plus: what founders should be watching, from DIU's role as the commercial on-ramp to the elevation of Owen West at the unmanned systems DRPM.

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/

Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

Commercial tech that works can still take years to reach the warfighter. The bottleneck usually isn't the technology. It's everything in between.

Sarah Pearson, Director of Strategy at the Defense Innovation Unit, joins us to break down The Bridge, DIU's initiative to systematically tear down the barriers that stall commercial capabilities inside the department. Drawing on lessons from 600+ prototypes, she walks through the three big ones: getting companies cleared and into classified space, fixing the ATO and RMF accreditation process, and bringing test and evaluation left so products are buyable from day one.

Sarah also shares what success looks like within 12 months, and a direct call to action for the builders, policymakers, investors, and buyers who make it all move.

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

Cyber offense is moving to machine speed, and human-speed defense can't keep up. In this episode of the Mission Matters podcast, we sit down with Lou Manousos, co-founder and CEO of Ent Security, to talk about defending at machine speed in the age of AI.

Ent is building intent-aware cybersecurity: edge-deployed AI agents that run at the operating system layer to detect and prevent attacks in real time, with full context of a user's normal behavior. Founded in 2025, Ent has raised more than $100 million and is working with enterprises across financial services, defense, hospitality, and more.

Lou is a five-time cybersecurity founder whose last company, RiskIQ, was acquired by Microsoft, where he stayed on to lead early development of their security copilot product. We get into the current state of AI for offensive and defensive cyber, the closed vs. open model debate, why he believes the industry has to shift back to prevention, and what it takes to build trust for autonomous agents on mission-critical systems.

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/

Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

Ben Kohlmann is the Assistant Secretary of the Navy for Manpower and Reserve Affairs, the chief talent officer for a workforce of more than a million people. A former F-18 carrier pilot who went on to work in venture capital and run a hard-tech startup, he now oversees recruiting, retention, and readiness across the Department of the Navy.

Maggie Gray and David Rothzeid talk with him about moving the Navy's personnel system out of the industrial age, bringing commercial tech talent into uniform through the Naval Innovation Unit, reforming shipyard pay to compete with the private sector, and preparing for the demographic cliff coming to military recruiting.

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/

Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

Language models aren't the only path to intelligence. For physics, the primitive is fields.In this episode of the Mission Matters Podcast, Maggie Gray and Akhil Iyer sit down with Pratap Ranade, CEO & Co-Founder of Arena Physica, to discuss how he and his team are building electromagnetic superintelligence. Pratap breaks down Atlas, an agentic platform that pairs non-deterministic AI agents with deterministic physics and simulation models, and Heaviside, the first foundation model for RF design, trained on electromagnetic fields instead of words.They cover why hardware's software-defined future makes electromagnetism matter more than ever, how Heaviside hit its "GPT-1 moment" with fully autonomous RF design, how Arena generates training data in a field with none publicly available, the pivot that deleted a double-digit-million revenue stream, and Pratap's vision for a new kind of Bell Labs.As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/ Visit Arena Physica's website: https://www.arenaphysica.com/0:00 – Introduction2:37 – What is electromagnetic superintelligence?5:20 – The current state of design tools8:09 – What "software-defined" actually means12:28 – Pairing non-deterministic agents with deterministic physics18:01 – Building a foundation model for RF22:43 – Where the training data comes from25:06 – From pilot to rollout: patterns across industries30:05 – Winning over the skeptics34:48 – Using Atlas internally: DJI drone teardowns36:59 – The vision: a new Bell Labs40:08 – The hardest moment building Arena43:08 – Closing advice: build stupidly ambitious things

In this Techquisition Edition of The Mission Matters Podcast, Maggie Gray and David Rothzeid break down Secretary Hegseth's new memo establishing a Direct Reporting Portfolio Manager (DRPM) for unmanned and autonomous systems.

David unpacks what a DRPM actually is, how it differs from traditional Portfolio Acquisition Executives and Joint Program Offices, and why this new "czar" reports directly to the Deputy Secretary of Defense with authority to redirect funding and set standards across the Army, Navy, Air Force, and Space Force. They trace the historical precedent back to JIEDDO and the MRAP program, walk through where Replicator, the Defense Autonomous Warfare Group (DAWG), JIATF 401, and Drone Dominance now fit under this new structure, and dig into the budget realities, including the proposed $54 billion request for the DAWG and what a likely continuing resolution means for FY27.

They close with practical guidance for founders and investors: how to navigate a rapidly shifting stakeholder landscape, why engaging with the Defense Innovation Unit matters more than ever, and what to expect as the fiscal year turns over.

Chapters:

00:00 – Intro

01:46 – What is a DRPM, and why create one for unmanned systems (UXS)?

03:26 – DRPM vs. PEO/PAE vs. Joint Program Office (F-35 JPO example)

05:53 – Who controls the budget and contract decisions in the short term

07:39 – Historical precedent: JIEDDO and the MRAP

09:06 – Recent DRPM examples: Golden Dome, submarines, B-21/F-47

10:23 – New DRPM authorities over budgeting and the DAWG's $54B request

11:52 – How the DRPM folds in Replicator, DAWG, Drone Dominance, and JIATF 401

14:11 – Why now: commercial tech has outpaced how the Pentagon employs drones

16:33 – DIU's expanded role as the industry front door

18:15 – Budget breakdown: Replicator, DAWG, JIATF 401 funding history

20:11 – Outlook on Congress passing a budget vs. another continuing resolution

20:46 – Advice for startup founders and investors

23:07 – Closing thoughts and next episode preview

The Magura family of USVs, built by UFORCE, sank 14 Russian warships. UFORCE air systems have flown over 220,000 combat missions and downed two Su-30 fighter jets — all in under three years of operation.

In this episode, CEO Oleg Rogynskyy joins David and Maggie to talk about building Ukraine's first defense tech unicorn from the front lines: how UFORCE manufactures under missile threat, why most Western defense tech fails the "coconut test," and what the US military should be buying right now.

Topics covered: autonomous systems, drone warfare, defense acquisition, Indo-Pacific strategy, Ukraine lessons for the West, and scaling a defense company from warzone to global market.

Timestamps:

(00:00) Introduction(02:14) UFORCE's Platforms and Combat Effects in Ukraine(06:32) Building a Defense Unicorn in Wartime(10:51) Applying Silicon Valley Lessons to Defense(13:33) Hardening Systems for Real Combat(15:12) Autonomy and the Bottom-Up Adoption Model(18:47) Ukraine's Outcomes-Based Acquisition Revolution(23:17) Lessons for Iran, Hormuz, and US Conflicts(26:30) Scaling to the US: Hiring Sean Planke(30:20) What Western Defense Tech Misunderstands(32:44) Manufacturing and Supply Chain Under Fire(36:52) Global Demand Across Four Theaters(40:29) The Future of UFORCE(42:44) If Oleg Were US Secretary of War

AI made writing code cheap. Verifying it is the new bottleneck.

Peter Morales, CEO and co-founder of Code Metal, joins Maggie Gray and Pat O'Reilly to talk about modernizing the legacy code running US national security — and why formal verification is the durable moat in an era of commodity AI code generation.

Founded in 2023, Code Metal has raised ~$200M and signed contracts with the US Air Force, L3Harris, RTX, and Toshiba. Projects that used to take engineering teams months now take minutes.

In this episode:

• Why US weapons systems still run on COBOL, Fortran, and Ada
• How Code Metal pairs LLMs with formal verification for safety-critical code
• Why the verification layer is more valuable than the model itself
• Peter's advice for founders building in defense tech

Timestamps:

(00:00) Introduction

(2:10) Why would you want translate code?

(4:11) How does Code Metal accelerate this process?

(5:27) Customer interest in Code Metal

(6:22) Outdated weapons systems programming language

(8:39) Code Metal's formula

(12:14) How does Code Metal choose a model to use

(14:11) Lessons learned from working in international markets

(15:20) Navigating commercial and government customers

(18:03) Getting approval to work with classified customers

(19:46) Customer success stories

(23:06) Building trust with mission-critical customers

(24:10) Why did you decide to start your own company?

(26:22) How do you approach recruitment for working in a startup?

(28:47) Biggest changes in defense space over Peter's career

(30:11) Advice for founders and investors to leverage a board

(32:16) Lessons from Ukraine and Middle East conflicts

(33:10) Subcontracting as a way to gain access to larger contracts

(34:39) What's next for Code Metal?

(35:38) Biggest surprised building Code Metal

(36:19) Advice for founders building in the national security domain

Decoding the President’s Budget Request, POM, and DoD J-Books for Defense Tech Startups.

In this Techquisition Edition episode of The Mission Matters Podcast, Maggie and David explain why the President’s Budget Request, the Pentagon POM process, and the DoD “J-books” are key public roadmaps of priorities and funding signals, while emphasizing the request is not law and Congress controls appropriations. Joined by Matt MacGregor of Creative Defense and the Defense Tech and Acquisition News newsletter, they break down today’s defense spending picture (base budget, reconciliation, and a possible Iran-related supplemental), explain “colors of money” (O&M vs RDT&E vs procurement) and shifts toward procurement, and describe how companies can mine J-books via keywords, major thrusts, and contract follow-through. They discuss notable FY27 signals including AI infrastructure/compute, CDAO changes, Maven, DIU funding dynamics, Golden Dome linkages, service-level priorities (counter-UAS, shipbuilding, EW, hypersonics), Air Force autonomy vs legacy platforms, and what happens next in Congressional markups.

Visit Creative Defense and check out Matt's substack to learn more: Defense Tech and Acquisition NewsAs always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

Timestamps:

00:00 Intro

00:36 Why Budget Docs Matter

01:41 PBR vs Appropriations

02:28 Meet Matt McGregor

05:12 Three Budget Pieces

07:56 Colors of Money

13:15 How to Use J Books

18:40 AI Funding Highlights

23:44 DIU and Golden Dome

33:13 PAEs and Autonomy

35:13 Air Force Tradeoffs

40:08 What Happens Next

44:20 Wrap Up and Next Episode

In this episode, Shield Capital's Maggie and Akhil sit down with Dan Wright (Co-Founder & CEO) and Pradeep Nair (Founding CTO) of Armada — the company building distributed AI infrastructure for the world's most remote and mission-critical environments.

They cover why the cloud breaks at the edge, how Armada is deploying sovereign AI infrastructure across defense, energy, and mining, and why winning the AI race is just as much about infrastructure as it is models.

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

Listen on:

Apple Podcasts

YouTube

Shield Capital

Visit Armada's website to learn more!

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

Timestamps:

0:00 - Armada Introduction

3:30 - What does the DOW's current AI adoption look like?

5:25 - Technical challenges for AI adoption in mission critical organizations

10:50 - Working with start-ups

15:49 - Non-military AI applications

18:49 - DOE's New Genesis Mission

26:26 - Problems with current AI infrastructure

29:47 - Customer education and trust

40:52 - What is it going to take to build US AI Dominance?

47:39 - Advice for founders

After a 6 month lapse, the SBIR program is officially back following Congressional reauthorization.

In this episode of the Mission Matters podcast, we sit down with Chris Benson, the CTO of Istari Digital and an Air Force acquisition pioneer who was one of the architects behind the modernization of the Small Business Innovation Research (SBIR) program during his time at AFWERX.

We discuss:

• How SBIR evolved from a slow, lab-driven R&D program into a real commercialization pathway

• Why Open Topic and TACFI/STRATFI changed the game for venture-backed defense startups

• What the new Strategic Breakthrough Awards mean for scaling to production

• Why founders need to think about Phase III and production contracts from day one

• How proposal caps, foreign due diligence, and other new rules could reshape the program going forward

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

Drones are re-defining modern warfare – and the U.S. is behind. On the latest Mission Matters episode, we sat down with Andy Yakulis, CEO & Co-Founder of Vector Defense, to discuss what it will actually take to achieve American Drone Dominance.

Vector isn’t just building drones. They describe their business model as “Modern Warfare as a Service.” Instead of waiting years to push hardware through traditional procurement pathways, they deliver integrated capability — technology, tactics, training, and battlefield feedback loops — under service contracts that tap into O&M funding.

We discuss:- Why the Pentagon’s $1B Drone Dominance initiative is the clearest USG demand signal for attritable systems yet
- How “Drone as a Service” business model unlocks O&M funding (the largest color of money)
- Lessons from Ukraine & Israel (and why it’s not copy-paste for the U.S.)
- Building a China-free supply chain and re-industrializing American drone manufacturing

Space is a contested domain. Russian and Chinese satellites are conducting proximity operations near American satellites. Critical U.S. and allied infrastructure depends on space-based assets that can be inspected, approached — or interfered with. On the latest Mission Matters episode, we sat down with Austin Link, CEO of Starfish Space, to discuss why rendezvous & proximity operations (RPO) are becoming mission-critical.

Starfish is building “space tugs” that can dock with and move other satellites — extending mission life, disposing of debris, and enabling other national security use cases. Their recent Remora mission autonomously maneuvered one satellite within 1,250 meters of another, validating a core thesis: software can radically lower the cost of operating in orbit.

We discuss:

• Why affordability and scale matter as much as exquisite capability in a contested domain

• The role RPO plays in U.S. military operations

• The current state of our adversaries’ orbital warfare capabilities

• How SBIR → STRATFI can be a springboard to building a scalable business

• Navigating classified work without slowing commercial velocity

• Where LEO, GEO, and cislunar actually fit in over the next five years

• The power of software to conduct complex RPO missions with relatively cheap, simple hardware

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

After a brief government shutdown, Congress finally passed the $839B Defense Appropriations bill! What does this new budget mean for startups? In our newest Techquisition Edition of the Mission Matters podcast, David and I sit down with fmr. HAC-D staff director Johnnie Kaberle to discuss how startups can best take advantage of the opportunities presented new FY26 Approps bill.

We cover:

🔴 How the Appropriations Bill, NDAA, President's Budget Request, and the reconciliation (the “one big, beautiful bill”) fit together – and where the real funding signal lives

🔴 How startups should engage Congress to advocate for their technology without burning credibility

🔴 What next-generation technologies (AI, autonomy, space, maritime, digital infrastructure) are actually funded in the bill

🔴 The importance of the Joint Explanatory Statement (JES) to understand appropriators' intent behind the bill

🔴 How to tell whether a budget line is real, available, and competitive, or already spoken for

🔴 How appropriators think about risk, flexibility, and accountability with taxpayer dollars.

As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.

🚨EMERGENCY POD! The DoW has officially released a new AI strategy, and along with it a whole slew of new reforms to the Defense Innovation Ecosystem. In the newest episode of the Techquisition Edition of the Mission Matters podcast (link below), David and I break down the DoW’s new AI strategy, the major changes to the defense innovation ecosystem, and what all these new initiatives mean for startups.

We discuss:

• What it means for DIU and SCO to be designated as “field activities”
• What new major AI projects the DoW is starting
• How DoW is investing in data and compute infrastructure to enable rapid AI adoption
• New initiatives in the services and PAEs designed to bring innovation into the hands of warfighters
• And more!

As always, please let us know your thoughts, and please reach out if you or anyone you know is building at the intersection of commercial technology and national security.

DoW AI Strategy: https://media.defense.gov/2026/Jan/12/2003855671/-1/-1/0/ARTIFICIAL-INTELLIGENCE-STRATEGY-FOR-THE-DEPARTMENT-OF-WAR.PDF

Transforming the Defense Innovation Ecosystem to Accelerate Warfighter Advantage memo: https://media.defense.gov/2026/Jan/12/2003855657/-1/-1/0/TRANSFORMING-THE-DEFENSE-INNOVATION-ECOSYSTEM-TO-ACCELERATE-WARFIGHTING-ADVANTAGE.PDF

Transforming Advana to Accelerate Artificial Intelligence and Enhance Auditability Memo: https://media.defense.gov/2026/Jan/12/2003855671/-1/-1/0/ARTIFICIAL-INTELLIGENCE-STRATEGY-FOR-THE-DEPARTMENT-OF-WAR.PDF

This episode of the Mission Matters podcast features a conversation between Shield Capital Managing Partner Philip Bilden and Lt. Gen. H.R. McMaster (ret.) on recent U.S. strikes on Venezuela. This episode covers everything from:

• The operational complexity of modern joint warfare and the role of commercial technology

• Why Venezuela has become a strategic linchpin in the Western Hemisphere

• What the operation signals to China, Russia, and other adversaries about U.S. resolve and deterrence.

• And more!

As always, please let us know your thoughts, and please let us know if you or anyone you know is building at the intersection of national security and commercial technology. Tune in next month for our next episode!

What does it take to build a serious profitable, sustainable, scaled defense tech startup? In the newest episode of the Mission Matters podcast David and I sit down with John Serafini, the CEO and founder of HawkEye 360 and a partner at Shield Capital, to discuss what it took to grow HawkEye into a profitable company with:

🛰️ 30+ satellites on orbit

💰 Nine-figures of ARR

🤝 Customers across the U.S. government and allied nations

In this episode, we unpack:

🔹 What it means to “build a serious company” in defense tech

🔹 Why trust, humility, and sustainability matter more than hype

🔹 The realities of working in classified environments

🔹 Lessons from the SPAC boom, capital discipline, and profitability

🔹 Where the real white spaces in space tech still exist

🔹 How to partner effectively with defense primes (without fear-mongering)

This conversation is a must-listen for founders, operators, investors, and policymakers building at the intersection of commercial innovation, space, and national security, and includes some hot takes from John as well.

As always, please reach out if you or anyone you know is building at the intersection of national security and commercial markets. And please make sure to subscribe to the Mission Matters podcast to hear more stories of what it takes to build at the intersection of national security and commercial markets.

KEYWORDS

Hawkeye 360,radio frequency, satellite technology, national security, commercial space,signal intelligence, defense technology, space startups, classified customers,international markets, ITAR compliance, defense primes, profitability,fundraising strategy.

Chapters

The Warfighter Is the SunWhy startups must design around the customer, not themselves

What Hawkeye 360 Actually Does (RF from Space)Commercial signals intelligence, explained simply

From West Point to Founder & InvestorJohn Serafini’s background and path to building Hawkeye 360

“Just Build a Serious Company”The advice that shaped Hawkeye’s operating philosophy

Trust, Humility, and SustainabilityThe three principles every defense tech startup must internalize

SpaceX, Rocket Lab, and What Great Looks LikeLessons from the most successful space companies

Is It Easier to Work with DoD Today?How the defense innovation environment has changed since 2015

The RDT&E Trap and the Valley of DeathWhy too many startups get stuck at TRL 4–6

Buy What We Can, Build What We MustWhat’s actually different in today’s defense procurement climate

The SPAC Boom: Lessons LearnedWhy many space SPACs struggled—and what founders should avoid

Turning Academic IP into a Scaled Space CompanyHow Hawkeye 360 spun out of Virginia Tech research

Building for Classified CustomersWhy practitioner insight and trust matter more than clever tech

In-Q-Tel, Clearances, and Market EntryHow startups should realistically approach the IC

Partnering with Defense Primes (Without Fear)Why primes aren’t the enemy—and how they can accelerate impact

ITAR, International Sales, and Allied CustomersHow Hawkeye built a global business despite regulatory hurdles

Scaling a Space Hardware CompanyThe hidden challenges of moving from first launch to constellation

Capital Discipline and Just-in-Time GrowthAvoiding overhead traps while scaling responsibly

When Should Hardware Startups Focus on Profitability?Why growth and profitability aren’t mutually exclusive

What John Looks for as an InvestorHow he evaluates early-stage space and defense tech startups

Tech That Fell Short of ExpectationsWhy optical communications still haven’t scaled as expected

White Spaces in Space TechOn-orbit processing, data relay, and future opportunities

Who Really Determines Success?The overlooked role of policymakers and appropriators

Final Thoughts: Building for Missions That MatterWhy discipline, trust, and seriousness define enduring companies

What does the 2026 National Defense Authorization Act (NDAA) mean for tech startups? Yesterday, the U.S. House of Representatives passed the 2026 NDAA, and the United States Senate is set to vote later this week.

🎧 Introducing the Techquisition Edition — a new sub-series of the Mission Matters Podcast, where David and I break down major defense acquisition news and explain what it means for technology startups building for the national security mission.

Our very first Techquisition Edition episode just dropped (link in comments). In this inaugural conversation, we dive into the NDAA’s most impactful provisions for companies working with—or hoping to work with—the United States Department of War. We cover:

👉 How the NDAA codifies SECWAR Pete Hegseth’s acquisition reform agenda

🛰️ New guidance accelerating DoW adoption of commercial space capabilities

🚀 What the NDAA signals about Golden Dome

🚨 Key proposals that did not make it into the bill

⚡ And much more...

As always, please let us know your thoughts, and please reach out if you or anyone you know is building in the national security domain.

Keywords: NDAA, Tech Startups, Acquisition Reform, Defense Innovation, Commercial Space, AI, Military Spending, National Security, Golden Dome, Defense Modernization

Chapters

Introduction to Techquisition and NDAA Overview

Understanding the NDAA and Its Importance

Acquisition Reform and Its Impact on Startups

Commercial Space and the Future of Defense

Golden Dome and Missile Defense Initiatives

Changes in the Defense Innovation Unit

AI and Its Role in the NDAA

Wins and Losses for Startups in the NDAA

Notable Provisions and Advice for Startups

In this episode of the Mission Matters podcast, Akhil and Maggie sit down with Andrew Puryear, the CTO of L3Harris, the 6th largest U.S. defense prime, to discuss L3Harris's "trusted disruptor strategy." As part of this strategy, L3Harris partners with startups to bring cutting edge capabilities to the warfighter. We cover:

- How startups should approach working with large primes

- What lessons the U.S. should (and shouldn't) be learning from the war in Ukraine

- The role AI, electronic warfare, air and missile defense, and more will have on future battlefields

- And much more

As always, please reach out if you or anyone you know is building in the national security startup space.

Last week, Secretary of War Pete Hegseth released a memo outlining a series of reforms to the defense acquisition system. In this episode of the Mission Matters podcast, David Rothzeid and Mike Brown break down what these reforms are and what impact they will have on the defense startup community.

We cover:

• The details of the reforms themselves (abolishing JCIDS, changing PEOs to PAEs, MOSA, and more)
• Why some legacy incumbents may resist these changes
• How to incentivize people within the Department to make these reforms a reality
• How startups should work to take advantage of the reforms
• And more

For more, check out David's blog post on the subject: https://drothzeid.medium.com/making-speed-and-accountability-the-new-normal-in-defense-acquisition-88cb84adfb65

There’s a lot of buzz these days around missile defense, but not much discussion around how missile defense actually works. In this episode of the Mission Matters podcast, Matt and I sit down with Shield Capital Operating Partner and former Director of the Missile Defense Agency, Ltg. (ret.) Pat O’Reilly, to discuss the current state of missile defense.

We cover:

• How missile defense actually works, breaking down a) the threats b) the kill chain and c) firing doctrine

• How missile defense has changed over the last several decades

• The role of startups and emerging technologies in the future of missile defense

• The state of our adversaries’ missile and missile defense systems

  
  

As always, please let us know your thoughts, and please reach out if you or anyone you know is building in the national security domain.

What will it take to actually bring manufacturing back to America? In this episode of the Mission Matters podcast, Akhil and I sit down with Cameron Schiller and Aeden Gasser-Brennan, the founders of Rangeview, to discuss the current state manufacturing in the U.S.

We discuss:

• What investment casting actually is and how Rangeview is revolutionizing the ancient manufacturing process

• Why China dominates much of today’s manufacturing landscape, particularly in the world of consumer electronics

• How modern defense manufacturing today differs from the manufacturing we did during WWII

• How industrial policy combined with new technologies can help bring manufacturing back to America

As always, please let us know your thoughts, and please reach out if you or anyone you know is building in the national security domain.

This month on the Mission Matters podcast, we sat down with Justin Fanelli, the CTO of the U.S. Department of the Navy, and Artem Sherbinin, the CTO of the U.S. Surface Navy to discuss the future software-defined Navy. We cover everything from computer vision deployment in the maritime domain to why technology will matter in a conflict with China to what “software defined warfare” actually means.

As always, please let us know your thoughts, and please reach out if you or anyone you know is building in the national security domain.

Key words: Navy, technology adoption, software-defined systems, integration, resilient communications, data integration, hybrid forces, geopolitical context, defense technology, innovation, AI integration, defense tech startups, naval operations, generative AI, military technology, DOD tech adoption, Ukraine conflict lessons, computer vision, maritime technology, startup advice

Chapters

• Introduction to the Guests and Their Roles

• Challenges in Technology Adoption and Integration

• The Future of Software-Defined Warfare

• The Importance of Data Integration

• Geopolitical Context and the Navy's Role

• The Urgency of Technological Integration in Defense

• Reviving Patriotism and National Security

• Success Stories in Defense Technology Integration

• Building Effective Partnerships for Innovation

• Key Metrics for Measuring Success in Defense

• Integrating New Technologies with Existing Systems

• Learning from Successful Startups in Defense

• Advice for Startups Entering the Defense Space

• Innovative Program Management in Defense

• Strategic Partnerships and Funding Mechanisms

• Outcome-Driven Metrics and Accountability

• Future Wishes for Defense Technology

• Lessons from Ukraine for Indo-Pacific Conflicts

• Generative AI in the Navy

• Challenges of Technology Integration in the DoD

• Building for the Navy: Unique Considerations

• Computer Vision in the Maritime Domain

• Adversaries' Adoption of Maritime Technologies

• Understanding Adversaries' Military Technology Approaches

What does this new trillion-dollar defense budget and "Big Beautiful Bill" mean for national security startups?

This week on the Mission Matters podcast, I sat down with my teammates Michael A. Brown and David Rothzeid, two former leaders at the Defense Innovation Unit (DIU), to unpack what the trillion-dollar defense budget really means for startups . With only $150B officially appropriated so far via the “Big Beautiful Bill,” there’s still a ton of complexity and opportunity ahead.We break down:

🔴 What’s actually been passed (hint: not the full trillion) and what’s still in flux

🔴 The current state of funding for cutting-edge technologies like Golden Dome, unmanned systems, space tech, and AI

🔴 Where DOD is lagging (AI, autonomy, EW) and what surprises are buried in the latest bill (F-35 cuts?!)

🔴 How startups should position themselves to win contracts

🔴 Where primes will dominate vs. where new entrants can thrive

🔴 What SPEED and FoRGED Acts mean for acquisition reform (spoiler: goodbye to some arcane accounting standards)

🔴 Why DoD “buying as a service” might finally stick

Whether you're a founder, investor, or policymaker—this episode’s for you. It’s a masterclass in how national security budgets translate into startup opportunity.

As always, please let us know your thoughts, and please reach out if you or anyone you know is building in the national security domain.

Keywords: Defense budget,NDAA, Appropriations Act, President's budget request, Big Beautiful Bill,defense spending, startups, commercial technology, unmanned systems, AI, cybersecurity,space technology, defense acquisitions, venture capital, dual-use technology.

Chapters:

• Introduction to Defense Budgeting and Startups

• Understanding the Defense Bill

• Emerging Technologies: Space, AI, and Unmanned Systems

• Challenges and Opportunities for Startups

• Navigating the Defense Acquisition Landscape

• The Debate on Defense vs. Dual-Use Startups

• The Role of Space in National Security

• Innovations in Defense Acquisition Policies

• Impact of the Forge and Speed Acts

• Executive Orders and Their Implications

• Investment Thesis in Defense Technology

This episode of the Mission Matters podcast features a conversation between Shield Capital Managing Partner Philip Bilden and Vice Admiral Kevin “Kid” Donegan. This episode covers everything from:

• The role of cutting edge technology like cybersecurity, drones, and AI in the conflict

• The current state of Iranian proxy forces in the Middle East

• How the conflict in the Middle East compares to Ukraine

• And more!

Keywords: Middle East, geopolitical briefing, national security, technology in warfare, nuclear program, Iran, US-Israel relations, cyber operations, AI

Chapters

Introduction to SHIELD Capital and Geopolitical Briefing
Admiral Kevin Donaghan's Background and Experience
Recent Activities in the Middle East
Command Responsibilities in Iraq and Afghanistan
Assessment of the Recent Conflict and Ceasefire
Iran's Military Capabilities and Regional Dynamics
Technological Advancements in Military Operations
The Role of Cyber in Modern Warfare
Leadership Assessment in Crisis Operations
Iran's Nuclear Program and Military Strategy
Regime Stability and Prospects for Change in Iran
US-Israel Relations and Military Collaboration
Iran's Global Influence and Terrorism Concerns
Geopolitical Implications for China and Russia
Investment in AI and Technology by Gulf Allies
The Future of GPS and Warfare Technology
Cybersecurity Threats from State Actors

In this episode of the Mission Matters podcast, David and I speak with Brendan Karp, the CEO of Obviant, a startup building a government market intelligence platform. In this episode, we discuss:

• How Obviant is building the “source of truth” for DoD budget, contract, and program data—replacing PDFs and spreadsheets with structured, searchable intelligence and providing its customers with a decision edge

• The painful reality of legacy DoD software systems like ABIDES and DTS, and why commercial technology should be powering national security workflows

• How the DoD is rewriting acquisition playbooks—embracing OTAs, CSOs, and the software acquisition pathway to bring in non-traditionals faster

• And more…

  
  

  Keywords: Governmentprocurement, national security, commercial technology, defense budget, AIplatform, data integration, acquisition challenges, government contracts, technologytransition, procurement data, innovation programs, defense industry, softwareacquisition pathway, commercial solutions openings, other transactionauthorities.

  
  

  Chapters

  • Understanding Obviant and Its Mission

  • The State of DOD Contracting Tools

  • Recent Changes in Acquisitions and Contracting

  • Rewriting the FAR: A New Approach

  • Innovative Contracting Mechanisms

  • Success Stories and Cultural Shifts

  • Executive Orders and Their Impact

  • Understanding Customer Needs and Data Challenges

  • The Role of Obviant in Data Integration

  • Navigating the Acquisition Process

  • Maintaining Data Accuracy and Relevance

  • Unlocking Insights for the DOD

  • Success Stories and Customer Impact

  • Advice for Startups in National Security