Day: October 18, 2025

• US Army Secretary Dan Driscoll said the military procurement process needs an urgent overhaul.
• He said the military needs to “disrupt the system” that “lined the primes’ pockets for so long.”
• This comes as startups like Palmer Luckey’s Anduril secure new partnerships with the military.

The defense primes have a fresh challenge on their hands: A US Army that’s tilting ever more toward a start-up-friendly, fast-moving procurement system.

US Army Secretary Dan Driscoll said on Monday that the military needs to rapidly overhaul its procurement processes and reduce its dependence on the largest defense contractors.

“We cannot f—ing wait to innovate until Americans are dying on the battlefield,” Driscoll said in his remarks at the annual meeting of the Association of the United States Army in Washington.

“We must act now to enable our soldiers. Our window to change is right now, and we have a plan to do it. We will set the pace with innovation, and we will win with silicon and software, and not with our soldiers’ blood and bodies,” he added.

Driscoll told meeting attendees that the military will be announcing changes to the way equipment is purchased “in just a matter of weeks.” He added that a Silicon Valley approach, which combines “venture capital money and mentorship with startup culture,” would be “absolutely ideal for the Army.”

“We are going to completely disrupt the system that held the Army back for decades and lined the primes’ pockets for so long,” Driscoll said.

“We will break down barriers until we measure acquisitions, not in years and billions, but in months and thousands,” he added.

Representatives for the US Army did not respond to a request for comment from Business Insider.

Primes under fire

Prime defense contractors are companies that have direct contracts with the government. They include major aerospace players such as Lockheed Martin and Boeing, as well as arms makers like General Dynamics.

Since taking office in February, Driscoll has called for a revamp of the military’s procurement processes. Driscoll served in the Army from 2007 to 2011 and was an officer with the Army’s 10th Mountain Division in Iraq.

In an interview with Business Insider in April, Driscoll said Washington has “optimized for nearly everything other than the soldier in their decision-making.”

“What has occurred is a hollowing out of a lot of the tools that we have given our soldiers,” Driscoll said.

During an appearance on the “TBPN” podcast in May, Driscoll said he would consider it a “success if in the next two years, one of the primes is no longer in business, and the rest of them have all gotten stronger.”

The largest arms makers have the expertise to design classified systems to the military’s needs and the advanced manufacturing to build them at scale in the US. They often rely on subcontractors to integrate the sophisticated systems and their computerized displays and controls.

These projects face an inherent strain: They must be built rapidly enough for current missions but with sufficient capability to remain effective in a war that could be decades into the future.

It’s a lengthy process that has been consolidated to a smaller number of major companies since the end of the Cold War. And it is this system that the Defense Department wants to widen to new players and speed up.

Silicon Valley titans, who specialize in rushing new digital services to the market, have also criticized the defense establishment.

“The Pentagon recently failed its seventh consecutive audit, suggesting that the agency’s leadership has little idea how its annual budget of more than $800 billion is spent,” Elon Musk said in an op-ed he cowrote with biotech entrepreneur Vivek Ramaswamy for The Wall Street Journal in November.

Musk and Ramaswamy wrote the op-ed as co-leaders of the White House DOGE office. Ramaswamy left DOGE in January, and Musk left in May.

Primes can move slowly

In the US, some major weapons developments by primes have been marked by severe delays. This includes Lockheed Martin’s F-35 program, which was mired in controversy, delays, and rising costs. The United States Government Accountability Office in 2023 said the program that builds three versions of an advanced stealth fighter was “more than a decade delayed and $165 billion over its original plans.”

Jets still arrive late. In 2024, all of the F-35 Lightning II stealth fighters delivered came late, with an average delay of 238 days.

Other big projects involving primes that are facing delays include Boeing’s KC-46 Pegasus aerial-refueling tanker and the US Navy’s Virginia-class submarine program with General Dynamics Corp. and Huntington Ingalls Industries.

Driscoll did not elaborate on what a new procurement system looks like, and the Pentagon has gutted its weapons testing office that independently assesses programs. The US military would likely still need many of the products made by primes. They are often the most advanced items a military buys, which is why they can be more vulnerable to issues than when companies work on smaller systems or single components.

Many US defense contractors lack commercial sales, making them wholly dependent on government spending. Huntington Ingalls Industries, for example, is the only American shipbuilder with the facilities and expertise to build nuclear-powered aircraft carriers.

An F-35, for example, has thousands of parts, and is a multinational project, with parts coming from allies like the UK and the Netherlands.

The defense market may be most open to new players in software and expendable drones, where barriers to entry are much lower.

Ukraine, hailed by allies as successful at manufacturing small drones to defend itself against Russia, still wants the big-ticket items like armored vehicles and missiles from allies, with its less-powerful assets alone unable to do much more than keep Ukraine on the defensive.

But its fight has still inspired Western industry. A host of new defense companies have emerged in response, and many major Western defense contractors have initiated new partnerships to acquire cutting-edge technology, work more efficiently, and address capacity gaps.

Jerry McGinn, the director of the Center for the Industrial Base at the Center for Strategic and International Studies, told Business Insider that while startups could make inroads into arms manufacturing, it will be difficult for them to beat the incumbents.

McGinn was the principal deputy director in the Office of Manufacturing and Industrial Base Policy at the Department of Defense from 2015 to 2018, where he oversaw acquisition policy.

“You’ve got to have a strong technical workforce, so there are significant barriers to entry there, but you have seen companies get involved,” McGinn said.

“The big example, of course, is SpaceX and Blue Origin. They disrupted the space launch business by coming in with their model, but it is hard to do,” he added.

A startup-friendly US military

Driscoll’s calls for quicker industry processes are in line with those of Silicon Valley and the views of US allies abroad.

And Driscoll’s push for cost-cutting means the market will adjust accordingly, says McGinn.

“If the government says, ‘We want more commercially oriented drones that they’re simple to make, that cost a hundred thousand dollars or less,’ companies are going to do that, and some companies that may not be competitive for them, they won’t bid,” he said.

“This is very much a monopsony, where the government sets the market. The companies are going to be competitive, and they are going to try to respond. They will partner with other companies to make themselves more competitive,” he added.

In May, Meta announced it is partnering with the defense technology startup Anduril to build next-gen extended reality gear for the US military. Anduril said the project was “funded through private capital, without taxpayer support,” and would “save the US military billions of dollars.” This program has suffered from years of delays and problems.

Meta’s CTO, Andrew Bosworth, described the collaboration as a “return to grace” for Silicon Valley’s ties with the military.

US allies have said the West needs to take a startup mindset to weapons development and testing.

While not rejecting the primes, many European defense leaders have said they want a shakeup. Militaries across the continent are buying from smaller, newer companies as well as the big players.

The UK’s armed forces minister, Luke Pollard, in May said that “Ukraine’s battlefield successes stems not just from great technology but also from their extraordinary ability to fail, learn, and iterate rapidly.”

Pål Jonson, the defense minister of Sweden, a NATO member and Ukraine ally, told Business Insider in February he was inspired by the Defense Innovation Unit in Silicon Valley, which helps companies and the US Department of Defense work together to field new technology at scale.

He said that using Silicon Valley as inspiration helped Sweden develop swarm drone technology in less than a year — a project that, he said, traditionally could have taken five years.

CSIS’s McGinn said defense officials should not see startups as a silver bullet to their procurement issues. Relying on a mix of both startups and traditional defense firms will better “contribute to the Army’s success,” he added.

“This is not about choosing only Silicon Valley companies. We need all kinds of companies to help support the Army and other parts of the Department of War,” McGinn said.

• Business Insider selected 25 young, standout Wall Streeters for its annual rising stars list.
• We asked them what boundaries and routines keep them grounded in their high-pressure jobs.
• Early morning exercise, screen breaks, and time for family came up often.

Pressure is among the few certainties of daily life on Wall Street — and knowing how to manage it is key to success.

Business Insider asked its 2025 Rising Stars of Wall Street how they set boundaries and maintain routines to stay grounded in an industry where the threat of burnout lurks behind each promotion. All of them are standing out at some of the country’s top financial firms at age 35 or younger, and somehow maintaining personal lives and sanity in the process.

Since Wall Street has little respect for the evening hours, mornings are precious to many of this year’s rising stars, particularly when it comes to exercise. From focusing on family, to cooking, to purposefully feeling bored for a few minutes, here are some of the ways finance’s young leaders find — and keep — balance.

Hitting the gym — or the padel court

True to the gym-obsessed stereotype, many of the Wall Streeters said exercising is key to staying grounded, especially in the hours before work. Sweating it out at the gym helps relieve the stress they’ll likely face during the day, some told Business Insider. As Lamar Cardinez, a principal at Blue Owl, put it, the gym “helps me feel fully awake quickly and supplies you with the energy needed for a full workday.”

“I’m a morning person, and I will be the person, unfortunately, who will sacrifice sleep so that I can exercise,” Catherine Kress, chief of staff to BlackRock CEO Larry Fink and a big runner, said.

For others, playing sports or spending time outside provides the much-needed physical relief. The up-and-comers opt for everything from golf to tennis to snowboarding to yoga to skiing. And though their interests are diverse, Alex Park, a principal at Thoma Bravo, admitted his typical finance bro tendencies when it comes to health habits.

“I’m sure you’ve heard too many people in finance, especially in Miami, talk about padel,” he said, referencing the racquet sport popular with America’s wealthy. “But I do very much enjoy that sport as well.”

Another interest that helps him stay grounded? Wellness and longevity science, which he was sure Business Insider had heard “a fair amount.”

Spending time with family

Colleagues might dominate many of the waking hours during the week, but some of the Wall Streeters told Business Insider that prioritizing family is crucial to excelling in their field. For Mohini Chakravorty, a principal at Blackstone, it’s knowing that her family pick up the phone “at any point in time.” For GTCR’s Natalie Lamberton, it’s talking after-work walks with her 6-month-old daughter and decompressing her week with her husband every Friday night.

Among those who are parents, some said seeing their kids before and after work gives them the perspective they need to walk into the office and inevitable pressure.

“I have my wife and my one and a half year old son, and that’s my code of comfort,” Aman Mittal, a managing director at Moelis & Company, said. “She and my son give me a lot of anchoring so as to make sure that you can do what you need to do once you’re out of the house.”

Joe Slevin, a managing director in Jefferies’ Private Capital Advisory group, often unwinds with his wife and three kids, but finds his friends are a necessary lifeline too.

“I would say that a few active text threads with old funny friends is essential.”

Eating well

Chakravorty is a “huge foodie,” and loves to explore the New York City restaurant scene. The same goes for Benson Kane, a vice president at TPG who said he often explores new spots in the city with his wife.

Lamberton said she enjoys cooking with her husband, and Chakravorty said she often cooks with her boyfriend as well.

Taking screen breaks

A number of the stars treat logging off as more than shutting their computer, and carve out intentional time to get away from their screens. Blackstone’s Knut Kirchoff figured out how important it is to spend at least 30 minutes with a book and away from the glow of his phone during the pandemic, and he still keeps up the habit to help him wind down.

Cardinez meditates, Lamberton makes time on her commute to purposefully feel bored, and Jake Woodson, the head of US distressed credit trading at Goldman Sachs, spends time in the Catskills.

“When it feels like all that matters in the world is XYZ bond all week, getting into the world and getting into nature and experiencing something different is invaluable and gives you motivation to come back to do it,” he said.

Beyond reading a physical newspaper in the morning with his coffee, Kirchoff tries to bring some analog habits to the office. He tracks his daily tasks in a paper notebook, crossing them off as they’re completed.

• Janet Fontane is a 76-year-old woman from Seattle who has always dreamed of getting married.
• Seven years ago, she made a dating profile online and was eventually matched with Cliff.
• The pair fell in love while dating long-distance for three years, and were married at 76 and 81.

This as-told-to essay is based on a conversation with Janet Fontane. It has been edited for length and clarity.

When I retired in 2016 after a successful career in international marketing, I began a personal development course that delved into identifying and pursuing my dreams.

The dream I wanted fulfilled more than any of the others was to be married, to love and be loved in return. In the past, I’d dated different men, some for years, but never found my companion.

Friends asked why I hadn’t married — told me I was nice and pretty, and surely would have been snapped up. I often responded by saying that they should ask God why I hadn’t met anyone to marry.

Once I stopped working and life slowed, I became committed to trying to find someone. Just as I had thrown myself into my work, I would throw myself into finding my soul mate to spend the last few decades of my life with.

A friend helped me create a dating profile

When I told a friend of mine, Gina Guddat, a relationship counselor and author of “The Relationship Roadmap,” about my burning desire for marriage, she said she would help me create a profile on a dating website.

She told me I needed a wide selection of photos of myself, including one of me dressed up and one of me doing something active. Men would want to know what activities I liked doing, too, so I made sure to mention I liked traveling and skiing, participated in a Rotary Club, and went to church.

I dated a couple of men after being matched, but like before, I didn’t find the man for me, until I met Cliff in February 2021.

I met someone in 2021

Cliff and I had matched and briefly talked on the phone — he in Phoenix and I in Seattle. When he visited his son, who also lived in Seattle, he suggested we go on a date. Still nervous about catching Covid, I insisted we meet outside at a vineyard.

He was such a gentleman. We talked for three hours, with him essentially only able to see my eyes between the face mask, warm clothing, hat, and scarf. While I wasn’t sure if it would be something that would last, I decided to give us a chance and called him to talk again a couple of days later.

After this, our phone calls to each other became frequent — often we would speak to each other three times a day.

The rest, as they say, is history.

We didn’t rush things despite our age but slowly got to know one another over three years staying at each other’s homes in Seattle and Phoenix.

Vitally important to me was hearing from Cliff’s daughter-in-law about the respect Cliff had for women, and that my own family liked him very much.

We married in 2023

He made me laugh and put me first, above himself. We enjoyed each other’s company and had similar family and faith values — all non-negotiables for me. But we are also different in many ways, and these differences we both accept, not attempting to change each other. Even though a couple, we often do things we like on our own, without each other.

In December 2023, after a series of conversations about our future together, Cliff suggested we buy rings together, joking he couldn’t get down on one knee to propose.

And in April 2025, we married. It was a celebration of two very different, separate worlds coming together. We had lived so many chapters of our lives separately and were coming together to finish our final chapters together.

I had a wedding planner, a lace dress, a bridal party, and a wedding photographer — the fairytale wedding I had dreamt of for years.

Getting married at an older age is a reminder of how fleeting life can be. Several loved ones died in the lead-up to our wedding, and we missed them on the day. While grieving, we celebrated the love and life in the room. I don’t think this is a feeling I would have felt had I married at a younger age.

When friends hear about our love story, they often remark that it gives them hope that they, too, might find love in their later years. Cliff’s golfing buddies ask him if I have any girlfriends we could introduce them to. My girlfriends talk to me about the same.

Our response is: “Of course there is hope to find someone to love and live with at any age, but it requires you putting yourself out there and trying to find love.”

I’m so grateful to have found Cliff. I know he has my back for the rest of the years I’m alive, no matter what happens as we age.