Goat Rodeo

This Episode:

Garrett and Simon break down a busy week across defense, geopolitics, and venture capital. They cover the continued surge of mega-rounds in defense tech, why the market feels unusually frothy heading into 2026, and what these investment patterns signal for startups, primes, and buyers.

On the geopolitical front, they discuss the recent U.S. strikes against Venezuelan cartel targets and what it may indicate about future policy posture in the Western Hemisphere. They also touch on shifting dynamics in Europe and how great-power competition continues to shape U.S. defense priorities.

The episode wraps with a look at how government behavior, market cycles, and emerging threats are all converging to create one of the most complex operating environments the defense sector has seen in years.

00:00- Christmas Banter, Rip Its, and Holiday Chaos

03:00- The Battle Lab & Why Real-World Testing Matters

06:00- Venezuela Strikes,  A Warning Shot or Something Bigger?

12:30- China, Taiwan, and What “Deterrence” Really Means

18:30- Frothy Venture Markets & 2025’s Mega-Rounds

25:30- Can Defense Startups Scale? Primes vs. New Primes

32:00- SBIR Reauthorization Delays & What It Means for Startups

37:00- NDAA, Full-Year CR Risks & Closing Thoughts

Our Podcast: 

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare. 

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605 

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

The Goat Rodeo crew is joined by Garrett Asta from Houlihan Lokey. The guys break down Steve Witkoff’s Ukraine peace plan, why Simon still sees no path to near-term peace, and a surprising cultural moment involving Limp Bizkit and Estonia. Then it’s onto the big stuff: major venture raises, billion-dollar outfits gearing up for IPOs, and what an incoming M&A wave could mean for valuations across the sector.

And yes, they get into Anduril’s rough week, the limits of “fail forward,” and why unfinished prototypes can become real risks for warfighters.

Chapters:

00:00–03:00 Chit chat and light banter

03:00–06:00 Introducing guest Garrett Asta

06:00–10:00 Ukraine “peace plan” reactions

10:00–13:00 Limp Bizkit cancelled in Estonia

13:00–17:00 Why Simon sees no peace coming soon

17:00–22:00 Big venture deals and billion-dollar raises

22:00–27:00 Defense market trends and M&A wave expectations

27:00–31:00 IPO prep and valuation concerns

31:00–35:00 Programs of record vs capabilities of record

35:00–38:00 Breaking news about two National Guardsmen

38:00–43:00 Selling prototypes, IRAD spending, DoD barriers

43:00–47:00 TRL, IRL, MRL and investor misconceptions

47:00–51:00 The risks of scaling defense manufacturing

51:00–55:00 Anduril hype cycles and product failure discussion

55:00–58:00 CCA, Fury test failure, and DoD risk tolerance

58:00–1:00:44 Thanksgiving food talk and closing thoughts

Our Podcast: 

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare. 

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605 

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

The Goat Rodeo crew covers a packed week: Saudi Crown Prince Mohammed bin Salman’s visit to the White House, renewed momentum in U.S.-Saudi defense cooperation, and what expanding foreign military sales means for the defense industrial base.

Dave walks through the Army’s major requirements and acquisitions restructure, where six general officers will control key capability portfolios. The team debates whether this centralization will accelerate modernization or smother risk-taking.

They also hit big moves in autonomy and aerospace: CCA progress, heavy-lift eVTOL developments, and URSA Major’s $100M Series E. Plus, what DroneShield’s leadership cash-out signals to DoD buyers, and whether it adds new risk to small-company contracting.

The shutdown is over, but appropriations remain a mess, and the crew breaks down what defense companies should expect in the coming months.

Also: doomsday prepping, Bosnia collapse lessons, and why everyone should try to stay on AI’s good side.

Chapters:

00:00–02:40 AI fear, sci-fi references, and doomsday prep

02:40–04:12 Bosnia and Kosovo collapse lessons

04:12–08:58 Rip It lore, flavors, and chaos

08:58–10:04 Episode intro

10:04–14:18 Saudi visit, F-35s, tanks, and defense alignment

14:18–18:07 CCA, autonomy progress, and unmanned systems

18:07–20:49 U.S.–Saudi strategic implications

20:49–24:45 Autonomy milestones, Airbus eVTOL, Ursa Major raise

24:45–28:06 Joby vs Archer lawsuit and critical tech

28:06–30:49 DroneShield concerns and DoD buyer risk

30:49–36:29 Army acquisition reform and centralization debate

36:29–41:08 Accountability, risk tolerance, and new structures

41:08–45:03 FUZE program, budgeting, and capability overlaps

45:03–47:00 PPBE alignment and congressional issues

47:00–54:45 Shutdown ending, appropriations uncertainty

54:45–58:23 CR mechanics, constraints, and executive flex

58:23–01:01:16 Pentagon dynamics, Hegseth sidelined

01:01:16–End Ukraine diplomacy aside and wrap-up

Our Podcast:

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare.

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

The Goat Rodeo crew is joined by Phil Divinski (CEO) and Jerad Watlington (COO), the duo behind Jeddoc, for a brutally honest look at FPV’s on the battlefield, bottom-up innovation, and why the acquisition system keeps tripping over itself.

The guys kick things off debating MRE supremacy before diving into the real questions: Why can’t senior enlisted fly drones on major bases? Why are the best battlefield innovations still coming from end users who duct-tape gear together before industry scales it? Why is venture pouring dollars into drones without matching procurement volume? They also touch on Neros’ recent $75 million dollar fundraise and what it signals for the drone ecosystem.

Phil and Jerad break down what actually matters for FPV effectiveness (hint: human maneuver is king), why requirements must start at the lowest levels, and how the current top-down system is slowing adaptation when speed matters most.

Dave walks through the new acquisition reforms: shoppers, requirements writers, and bean counters under one roof, and of course, Simon questions whether any of it will actually fix the accountability problem.

The episode wraps with a shutdown update, a nearly impossible moment where Simon was very wrong on his prediction, and what the reopening really means for defense companies, RDT&E spend, and SBIR reauthorization.

Time stamps:

00:00 Banter

02:00 Introductions and Jeddoc background

8:00 Neros raise and FPV discussion

15:50 FPV training and synchronization

21:00 Bottom-up requirements

23:30 Speed, testing cycles, DOGE approach

28:14 Acquisition blame game

39:06 SOCOM and acquisition reform

43:50 Shutdown update

Our Podcast:

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare.

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

The Goat Rodeo crew is joined by Brad Palm, COO at Dreadnode, for a deep dive into the realities of AI in defense. The team breaks down the myth of the soldiers Ironman suit, why true innovation starts with the end user, and how private industry continues to outpace the Pentagon.

They also hit on Canada’s massive defense spending boost, the shifting landscape of international defense tech, and the DoD’s latest reform push. All that, plus the usual Goat Rodeo banter and a few thoughts on “hyper-enabled” nonsense.

Timestamps:

0:15 Marine Corps Ball Attire

5:06 Official Intro

5:55 Introduction to Brad & Dreadnode

15:40 Canada’s Defense Budget Boost

20:00 Growing International Anti-American-Tech Sentiment

21:05 AI Nationalism

27:17 Shyam Sankar NYT Interview

29:57 The Iron Man Suit Pipedream

44:42  Hegseth’s Upcoming Defense Reform

52:08 Gov Shutdown

Our Podcast: 

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare. 

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605 

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

The Goat Rodeo crew is back, diving into Trump’s Asia tour, defense alliances, and the evolving balance of power in the Indo-Pacific. The team unpacks Japan and South Korea’s deepening military partnerships with the U.S., the growing importance of foreign military sales, and what it means for America’s long-term China strategy.

From Seoul’s defense ambitions to the counter-drone arms race, they explore how defense technology is globalizing fast... and where startups fit in.

Plus: lessons from Ukraine and Taiwan, the Pentagon’s new “Right to Repair” policy, and the growing call for self-sufficiency at the edge. And, of course, Simon’s shutdown predictions return, alongside plenty of Rip It-fueled banter about wizards, warfighters, and the true nature of innovation.

Our Podcast:

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare.

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

The Goat Rodeo crew digs into the rise of the “hyper-enabled soldier” — what’s real, what’s hype, and how much of it actually helps the warfighter. Fresh off AUSA, they talk about Anduril’s new EagleEye headset, the limits of wearable tech, and why human capability still anchors every fight.

Also on deck: JP Morgan’s new defense fund, Firestorm’s big win, and how investors can navigate the realities of the DoD market. Plus, government shutdown updates, subterranean warfare, and why sometimes the simplest tools still win the day.

Our Podcast: 

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare. 

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605 

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

This week, the Goat Rodeo crew is joined by Chris Miller, an American Special Forces Colonel who went on to serve as Acting United States Secretary of Defense. We cover everything from Rip-Its to today’s flashpoints: Russia and Ukraine, Israel and Palestine, and Taiwan and China. Along the way, Chris reminds us of a hard truth: the technology and players may change, but the nature of war never does.

Our Podcast: 

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare. 

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605 

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

The Goat Rodeo crew kicks things off with cowboy hats in Michigan, record-breaking Zach Bryan concerts, and Dave’s take on a Power-flavored Rip-It (“tastes like combat and victory”) before diving headfirst into the week’s chaos.

At the center: the government shutdown. What does it mean for the NDAA, DoD budgets, and startups trying to break in? Simon sees gridlock, Dave breaks down how furloughs turn simple contract flows into a nightmare, and Garrett explains why timing matters when obligated dollars collide with Washington dysfunction.

From SBIR reauthorization to TACFI and STRATFI, the team debates the future of innovation funding. Should SBIR programs take equity stakes in companies? Some say yes, we say hell no. Dave offers fixes, Garrett gives the summary, and Simon calls out the politics.

And to wrap: generals summoned to Quantico, more proof that defense culture is as unpredictable as ever, and the ongoing circus of Congress in a shutdown year.

Our Podcast: 

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare. 

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605 

YouTube: youtube.com/@GoatRodeoPodcast

This Episode:

Dave may be the coolest guy at Home Depot, but even he can’t get excited about CENTCOM opening yet another innovation shop. The crew unpacks whether China is truly expansionist, how much Taiwan really hates the mainland, and what role the U.S. should play if Beijing decides to make a move.

They also dive into venture capital flowing into Ukraine and Taiwan, the booming global market for small drones, and Simon’s not-so-rosy prediction: a 75% chance of a looming U.S. government shutdown.

Our Podcast: 

National security, defense tech, and geopolitics; serious topics, but that doesn’t mean we have to be boring about it. The Goat Rodeo Podcast brings you three military veterans turned defense insiders, breaking down the biggest stories shaping the future of warfare. 

Expect sharp insights, unfiltered debates, and the occasional defense industry hot take, because let’s be honest, this space can be a total goat rodeo.

Listen on other platforms:

Spotify: https://open.spotify.com/show/2mTJ1oJEgB3rCbQouCL7XD?si=9b2647b843144469

Apple Podcasts: https://podcasts.apple.com/us/podcast/goat-rodeo/id1801310605 

YouTube: youtube.com/@GoatRodeoPodcast