This podcast episode explores the Department of Defense's (DoD) efforts to modernize its innovation ecosystem and bridge the valleys of death in innovation. It highlights the significant increase in the DoD's R&D budget and the rise of defense tech startups and investments. The episode discusses the historical connection between Silicon Valley and government defense and emphasizes the importance of collaboration between the public and private sectors. The DoD's strategies to overcome bureaucratic and cultural barriers, the urgent need for institutional change, and the evolving role of primes in the defense industrial base are also discussed. The episode concludes by addressing concerns about the allocation of private investment and venture capital in defense and the Pentagon's approach to responsible AI and generative AI. Lessons learned from the deployment of new technologies in Ukraine are highlighted, emphasizing the importance of intelligence and concept employment.