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20VC: Palantir CTO on The Broken Incentive Structure of How Governments Buy Defence, The Danger of Defence Spending at Historic Lows, How Elections and Wars Change Government Defence Buying & Why Budgets are Anti-Creative with Shyam Sankar
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Last Supper and the Financialization of Defense
In the aftermath of the Cold War, the defense industry in Silicon Valley went through a significant transformation. Assistant Deputy Secretary of Defense Bill Perry initiated this change by guiding the consolidation of defense primes, reducing their number from 51 to 5. This led to a shift towards financialization in the defense industry, focusing on dividends, buybacks, leverage ratios, and mergers and acquisitions, rather than just competition and innovation.
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