With all the turmoil around the world right now, defense has become a hot topic around the globe, with some countries expanding their defense industries.
At the 2024 Robin Hood Investors Conference, Barry Sternlicht of Starwood Capital Group joined venture capitalist Joe Lonsdale in a fireside chat to talk about defense and artificial intelligence.
From consolidation to growth in defense
Sternlicht said defense is a big theme right now, noting that the sector saw significant consolidation in the 1990s. At the time, the Cold War was ending, and defense spending plummeted 44%. After a meal later referred to as "the Last Supper," the U.S. defense secretary talked about consolidation in the defense sector to support a time of peace....
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