Leaping the valley of death with Matt Steckman

Matt Steckman joined me on the Acquisition Talk podcast to discuss about a wide range of issues facing growth-stage companies in the defense industry. He is the Chief Revenue Officer of Anduril Industries. Topics include: - Edge computing and the future of artificial intelligence - How to think about risk taking in product development - The beauty of the Air Force's approach enterprise tools - How cost and pricing data becomes self-reinforcing - Why security clearance process is a barrier to entry The podcast features a discussion of transitioning technology across the "valley of death" to a program of record. Matt applauds government efforts to make it easier for new entrants to get small government contracts. However, it often takes years to get funding lined up through a program office. While large incumbents can manage the system by having a portfolio of projects at various stages, new entrants may face a gap in revenues for multiple years. As Matt reminds us, Anduril didn't even exist when this year's budgets were being planned more than two years ago. In order to bridge the valley of death, Matt recommends small companies field capabilities early and have honest conversations with government about what it takes to stay viable. He also provides three things the DoD can do that will allow industry to rise up and participate. (1) recompete programs more often; (2)  if the winner is new, be willing to move larger amounts of funds; and (3) increase flexibility to move funding within the fiscal year. This podcast was produced by Eric Lofgren. Soundtrack by urmymuse: "reflections of u". You can follow us on Twitter @AcqTalk and find more information at AcquisitionTalk.com.