Code Metal: Rewriting the Code Behind National Security

How do you prevent a war that would reshape the global order? Eyck Freymann, Hoover Fellow at Stanford University and author of Defending Taiwan: A Strategy to Prevent War with China, joins Mission Matters to explain why Taiwan sits at the center of US-China competition and what it will take to keep the peace.Eyck explains why Taiwan’s place on the first island chain made it strategically vital decades before it made semiconductors. He covers how Taiwan’s divided domestic politics shape its relationship with Washington and Beijing, and what the Berlin crises of the Cold War can and can’t teach us about resolve. He also walks through what a Chinese amphibious invasion would actually require, why Xi Jinping’s gradual approach looks so different from Putin’s in Ukraine, and which technologies matter most for Taiwan’s defense, from uncrewed surface vessels to integrated air and missile defense.The conversation closes on the threat Eyck believes Washington is least prepared for: a hybrid gray zone campaign against the sea lanes, undersea cables, and infrastructure the global economy runs on, now accelerated by AI.As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security.Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

In this episode of the Mission Matters Podcast, Maggie Gray and David Rothzeid sit down with Jesse Kallman, CEO & Founder of Danti AI, to discuss how Danti deploys AI “intelligence analysts” that fuse satellite imagery, open-source data, maritime signals, and sensor feeds into cited, ready-to-brief answers. He walks through real deployments: automating port and airport damage assessments after the Venezuela earthquakes for US SOUTHCOM, and standing up a shared intelligence terminal for eight-plus NATO countries in under three hours during exercise Trojan Footprint.We also get into where Danti fits alongside Palantir, why “data sovereignty” is driving the international market, what it actually takes to deploy software inside a government network, and why a general-purpose model like ChatGPT or Claude can’t do this out of the box.As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

On September 30, Secretary Pete Hegseth signed a memo titled Project Agincourt: Pathway to the Autonomous Warfare Command, a plan for a new four-star command built around autonomous warfare. It would be the first functional combatant command stood up from scratch since SOCOM and TRANSCOM in 1987.Maggie and David bring on Bill Greenwalt of the American Enterprise Institute, former Deputy Under Secretary of Defense for Industrial Policy and a longtime Senate Armed Services Committee staffer, for an emergency breakdown.What is a combatant command in the first place? Why is building a new one so rare? And does this turn into a real speed play for autonomy, or just another layer of bureaucracy? Greenwalt's test is simple: are builders working side by side with operators, or three chains removed through the primes and integrators?Plus: what founders should be watching, from DIU's role as the commercial on-ramp to the elevation of Owen West at the unmanned systems DRPM.As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

Commercial tech that works can still take years to reach the warfighter. The bottleneck usually isn't the technology. It's everything in between.Sarah Pearson, Director of Strategy at the Defense Innovation Unit, joins us to break down The Bridge, DIU's initiative to systematically tear down the barriers that stall commercial capabilities inside the department. Drawing on lessons from 600+ prototypes, she walks through the three big ones: getting companies cleared and into classified space, fixing the ATO and RMF accreditation process, and bringing test and evaluation left so products are buyable from day one.Sarah also shares what success looks like within 12 months, and a direct call to action for the builders, policymakers, investors, and buyers who make it all move.As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

Cyber offense is moving to machine speed, and human-speed defense can't keep up. In this episode of the Mission Matters podcast, we sit down with Lou Manousos, co-founder and CEO of Ent Security, to talk about defending at machine speed in the age of AI.Ent is building intent-aware cybersecurity: edge-deployed AI agents that run at the operating system layer to detect and prevent attacks in real time, with full context of a user's normal behavior. Founded in 2025, Ent has raised more than $100 million and is working with enterprises across financial services, defense, hospitality, and more.Lou is a five-time cybersecurity founder whose last company, RiskIQ, was acquired by Microsoft, where he stayed on to lead early development of their security copilot product. We get into the current state of AI for offensive and defensive cyber, the closed vs. open model debate, why he believes the industry has to shift back to prevention, and what it takes to build trust for autonomous agents on mission-critical systems.As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

Ben Kohlmann is the Assistant Secretary of the Navy for Manpower and Reserve Affairs, the chief talent officer for a workforce of more than a million people. A former F-18 carrier pilot who went on to work in venture capital and run a hard-tech startup, he now oversees recruiting, retention, and readiness across the Department of the Navy.Maggie Gray and David Rothzeid talk with him about moving the Navy's personnel system out of the industrial age, bringing commercial tech talent into uniform through the Naval Innovation Unit, reforming shipyard pay to compete with the private sector, and preparing for the demographic cliff coming to military recruiting. As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/

Language models aren't the only path to intelligence. For physics, the primitive is fields.In this episode of the Mission Matters Podcast, Maggie Gray and Akhil Iyer sit down with Pratap Ranade, CEO & Co-Founder of Arena Physica, to discuss how he and his team are building electromagnetic superintelligence. Pratap breaks down Atlas, an agentic platform that pairs non-deterministic AI agents with deterministic physics and simulation models, and Heaviside, the first foundation model for RF design, trained on electromagnetic fields instead of words.They cover why hardware's software-defined future makes electromagnetism matter more than ever, how Heaviside hit its "GPT-1 moment" with fully autonomous RF design, how Arena generates training data in a field with none publicly available, the pivot that deleted a double-digit-million revenue stream, and Pratap's vision for a new kind of Bell Labs.As always, please let us know what you think. And please reach out if you or anyone you know is building at the intersection of technology and national security. Explore Shield Capital's portfolio and thesis at: https://shieldcap.com/Follow Shield Capital and the Mission Matter Podcast on LinkedIn to catch every episode of Mission Matters: https://www.linkedin.com/company/mission-matters-podcast/ Visit Arena Physica's website: https://www.arenaphysica.com/0:00 – Introduction2:37 – What is electromagnetic superintelligence?5:20 – The current state of design tools8:09 – What "software-defined" actually means12:28 – Pairing non-deterministic agents with deterministic physics18:01 – Building a foundation model for RF22:43 – Where the training data comes from25:06 – From pilot to rollout: patterns across industries30:05 – Winning over the skeptics34:48 – Using Atlas internally: DJI drone teardowns36:59 – The vision: a new Bell Labs40:08 – The hardest moment building Arena43:08 – Closing advice: build stupidly ambitious things

In this Techquisition Edition of The Mission Matters Podcast, Maggie Gray and David Rothzeid break down Secretary Hegseth's new memo establishing a Direct Reporting Portfolio Manager (DRPM) for unmanned and autonomous systems. David unpacks what a DRPM actually is, how it differs from traditional Portfolio Acquisition Executives and Joint Program Offices, and why this new "czar" reports directly to the Deputy Secretary of Defense with authority to redirect funding and set standards across the Army, Navy, Air Force, and Space Force. They trace the historical precedent back to JIEDDO and the MRAP program, walk through where Replicator, the Defense Autonomous Warfare Group (DAWG), JIATF 401, and Drone Dominance now fit under this new structure, and dig into the budget realities, including the proposed $54 billion request for the DAWG and what a likely continuing resolution means for FY27.They close with practical guidance for founders and investors: how to navigate a rapidly shifting stakeholder landscape, why engaging with the Defense Innovation Unit matters more than ever, and what to expect as the fiscal year turns over.Chapters:00:00 – Intro01:46 – What is a DRPM, and why create one for unmanned systems (UXS)?03:26 – DRPM vs. PEO/PAE vs. Joint Program Office (F-35 JPO example)05:53 – Who controls the budget and contract decisions in the short term07:39 – Historical precedent: JIEDDO and the MRAP09:06 – Recent DRPM examples: Golden Dome, submarines, B-21/F-4710:23 – New DRPM authorities over budgeting and the DAWG's $54B request11:52 – How the DRPM folds in Replicator, DAWG, Drone Dominance, and JIATF 40114:11 – Why now: commercial tech has outpaced how the Pentagon employs drones16:33 – DIU's expanded role as the industry front door18:15 – Budget breakdown: Replicator, DAWG, JIATF 401 funding history20:11 – Outlook on Congress passing a budget vs. another continuing resolution20:46 – Advice for startup founders and investors23:07 – Closing thoughts and next episode preview

The Magura family of USVs, built by UFORCE, sank 14 Russian warships. UFORCE air systems have flown over 220,000 combat missions and downed two Su-30 fighter jets — all in under three years of operation. In this episode, CEO Oleg Rogynskyy joins David and Maggie to talk about building Ukraine's first defense tech unicorn from the front lines: how UFORCE manufactures under missile threat, why most Western defense tech fails the "coconut test," and what the US military should be buying right now.Topics covered: autonomous systems, drone warfare, defense acquisition, Indo-Pacific strategy, Ukraine lessons for the West, and scaling a defense company from warzone to global market.Timestamps:(00:00) Introduction(02:14) UFORCE's Platforms and Combat Effects in Ukraine(06:32) Building a Defense Unicorn in Wartime(10:51) Applying Silicon Valley Lessons to Defense(13:33) Hardening Systems for Real Combat(15:12) Autonomy and the Bottom-Up Adoption Model(18:47) Ukraine's Outcomes-Based Acquisition Revolution(23:17) Lessons for Iran, Hormuz, and US Conflicts(26:30) Scaling to the US: Hiring Sean Planke(30:20) What Western Defense Tech Misunderstands(32:44) Manufacturing and Supply Chain Under Fire(36:52) Global Demand Across Four Theaters(40:29) The Future of UFORCE(42:44) If Oleg Were US Secretary of War

AI made writing code cheap. Verifying it is the new bottleneck.Peter Morales, CEO and co-founder of Code Metal, joins Maggie Gray and Pat O'Reilly to talk about modernizing the legacy code running US national security — and why formal verification is the durable moat in an era of commodity AI code generation.Founded in 2023, Code Metal has raised ~$200M and signed contracts with the US Air Force, L3Harris, RTX, and Toshiba. Projects that used to take engineering teams months now take minutes.In this episode:Why US weapons systems still run on COBOL, Fortran, and AdaHow Code Metal pairs LLMs with formal verification for safety-critical codeWhy the verification layer is more valuable than the model itselfPeter's advice for founders building in defense techTimestamps:(00:00) Introduction(2:10) Why would you want translate code? (4:11) How does Code Metal accelerate this process?(5:27) Customer interest in Code Metal(6:22) Outdated weapons systems programming language(8:39) Code Metal's formula(12:14) How does Code Metal choose a model to use(14:11) Lessons learned from working in international markets(15:20) Navigating commercial and government customers(18:03) Getting approval to work with classified customers (19:46) Customer success stories(23:06) Building trust with mission-critical customers(24:10) Why did you decide to start your own company?(26:22) How do you approach recruitment for working in a startup?(28:47) Biggest changes in defense space over Peter's career(30:11) Advice for founders and investors to leverage a board (32:16) Lessons from Ukraine and Middle East conflicts(33:10) Subcontracting as a way to gain access to larger contracts(34:39) What's next for Code Metal?(35:38) Biggest surprised building Code Metal(36:19) Advice for founders building in the national security domain