It’s the other side that’s changed. Venture investors have both a much greater appetite for large amounts of funding for defense and IC startups, and a lot more experience navigating the defense/IC procurement process, at least in part due to success with Palantir, Anduril, SpaceX, and others.

I agree the overtures to attract the Bay Area are small potatoes, even if DIUx does help.

Have many defense investments in startups proven profitable enough for VCs and other investors to continue pouring money into the sector? Or is the sector primarily banking on moonshots?