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October 6, 2025 19 mins

Sherman Williams, the co-founder of AIN Ventures, joins Ryan at the bar to discuss the hard realities of dual-use investing. They dig into inflated valuations, the dangers of easy capital, and the risks of betting on defense budgets that may not endure. They also examine the outlook for space companies, the role of private equity, and what it really takes for startups to survive in this sector.

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