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Defense tech is red hot right now.\u00a0Anduril<\/a>\u00a0and\u00a0Mach Industries<\/a>\u00a0just doubled and quadrupled their valuations, respectively,\u00a0and the U.S.\u00a0government is proposing\u00a0a\u00a040% increase<\/a>\u00a0in defense budget. A wave of new startups\u00a0is\u00a0chasing those government contracts, but according to Ross Fubini, the venture investor who wrote Anduril\u2019s first check, most of them\u00a0will get lost in the Valley of Death between prototype contract and real production deal.\u00a0\u00a0<\/p>\n Watch as, on this episode of TechCrunch\u2019s\u00a0Equity<\/a>\u00a0podcast, Rebecca Bellan asks Fubini \u2014 the founder and managing partner of\u00a0XYZ Venture Capital<\/a>, built on the Palantir alumni network and now approaching $2B AUM \u2014 what separates the survivors from the\u00a0rest.\u00a0<\/p>\n Subscribe to Equity on\u00a0YouTube<\/a>,\u00a0Apple Podcasts<\/a>,\u00a0Overcast<\/a>,\u00a0Spotify<\/a>\u00a0and all the casts. You\u00a0also can\u00a0follow Equity on\u00a0X<\/a>\u00a0and\u00a0Threads<\/a>, at @EquityPod.\u00a0<\/p>\n<\/div>\n