US miltech executives urge authorities to speed up procurement to counter China
Nearly 20 defense technology executives plan to meet with Biden administration officials to push for faster military purchases and greater investment to maintain the U.S. technological edge over China.
About this writes Bloomberg.
Defense technology chiefs are said to be scheduled to meet with Biden administration officials, House Speaker Kevin McCarthy and other lawmakers on Monday, Sept. 18, to push for faster military procurement and greater investment in breakthrough technology, steps they say necessary for the US to maintain its innovation edge over China.
The group includes executives from well-known companies such as Palantir Technologies Inc. and Anduril Industries Inc. , as well as new companies like Swarm Aero, which makes drones.
Chris Power, CEO of Hadrian, also said that many Silicon Valley executives have long viewed government as “a big, slow beast that you don’t really want to talk to.” But in recent years, he added, the government has begun to move from a model of “here’s exactly what we want you to do” to “here’s the mission you need to accomplish, and here’s the incentive.”
It adds that the US government and technology companies are working together to bring innovation to the defense industry. Founders and entrepreneurs on both sides see this as both a patriotic goal and a business opportunity for development.
Economic truth.
