April 25, 2025
Most VC-backed defense startups stall, pivot, and eventually die. John Ferry has a few ideas why.As President of Trenchant Analytics and a deeply connected defense insider, Ferry pulls back the curtain on what’s really going on in GovCon. We talk pivot traps, why most military customers aren’t actually looking for innovation, and why founders need to get real about the slow, messy path to contracts. Also in this episode: drone warfare, EW hype cycles, defense memes, investor delusions, and...