China and Russia are churning out millions of drones while the United States has little capacity to build them at scale. Rep. Pat Harrigan of North Carolina introduced the SkyFoundry Act to change this, and it got rolled into the latest National Defense Authorization Act. This law authorizes a government-run facility capable of producing one million small drones annually, cutting China out of our supply chains and ending years of procurement delays. It's a truly new way for the government to work with multiple industry partners. Harrigan joined Ryan to discuss how SkyFoundry is supposed to work, the tradeoffs of a government-run production facility, how vendors would plug into the system, and the failures in military strategy and production that brought us here.

Since World War II, America's universities have been part of the nation's arsenal, forging the ideas, technology, and talent that underpin national defense. That engine of innovation never stopped running. John Beieler and John Paul Sawyer of the University of Maryland join Ryan to talk about the power of public–private partnerships in defense tech, quantum science, and AI, and how that work keeps American innovation humming just outside Washington.

Open-source intelligence has matured into a complex blend of technology, access, and tradecraft. Ryan is joined by Ryan Curran of ZeroFox, Tucker Moore of Booz Allen Hamilton, and Scott Petry of Authentic8 to explore how today's practitioners manage attribution, collect at scale, preserve provenance, and ensure human judgment remains at the center of the process.

Sherman Williams, the co-founder of AIN Ventures, joins Ryan at the bar to discuss the hard realities of dual-use investing. They dig into inflated valuations, the dangers of easy capital, and the risks of betting on defense budgets that may not endure. They also examine the outlook for space companies, the role of private equity, and what it really takes for startups to survive in this sector.

Tory Bruno, president and CEO of United Launch Alliance, joins us to talk about the hard business of getting things into space. He reflects on competition, what it took to turn ULA around, the politics of building new rockets, and what assured access to space means in the new era of great-power competition.

There's a fundamental mismatch between the agile acquisition processes that the Pentagon says it wants, and the unfortunate bureaucratic reality. Bonnie Evangelista, an acquisition maverick, joins the show to explain why. She spent the last seven years implementing rapid acquisition strategies for Army Defensive Cyber, the Joint AI Center, and the Chief Digital AI Office, and is now a strategic advisor supporting the Revolutionary FAR Overhaul team rewriting the Federal Acquisition Regulations.