Weekly Update
11-17 March 2023
SVB failed and other banks are teetering, requiring bailouts. The Defense Department released its largest ever budget request, and excluded items for Ukraine from it. Global cocaine production reaches all-time high. Russian jet hits U.S. drone over Black Sea, after harassing it. Libya lost (and later recovered) 2.5 tons of uranium. And NASA unveils a new space suit for the Artemis mission.
Weekly News Round Up
Military
Russian SU-27 harrasses American drone, drops fuel on it and crashes it (BI)
Outgoing Micronesian president warns of Chinese “Political Warfare” (Dip)
China’s Xi to meet Ukraine’s Zelenskiy next week (WSJ)
Chinese drones, retrofitted and weaponized, downed in Eastern Ukraine (CNN)
China shipping weapons, armor, drones to Russian force in Ukraine (FX)
U.S. threatens TikTok ban if Chinese stakes not sold (WSJ)
Poland to begin delivering MiG-29 aircraft to Ukraine (DN)
U.S. Army Chief wants 3 multidomain task forces in Pacific (DN)
U.S. has operated an RQ-4 Global Hawk drone from Singapore since January (DN)
The Pentagon requests the largest-ever defense budget (FX)
U.S. Defense Department gets “F” for erratic, unfocused innovation spending (BD)
U.S. defense budget would see 21% increase in cyberspace spending (C4ISR)
Budget request sees $30B+ for max production of munitions and missiles (DN)
… $687M for Rapid Defense Experimentation Reserve (C4ISR)
… $10.9B for the Missile Defense Agenyc, including $800M to defend Guam (DN)
… $30B for the Space Force to continue development (C4ISR)
U.S. Navy looks to decommission 11 ships next year; 8 ahead of schedule (DN)
More details emerge about the complicated funding of the AUKUS submarine fleet (DN)
Pentagon claims Defense Production Act will speed up hypersonics work (C4ISR)
U.S. Air Force sees need for more tests on hypersonics before buying (DO)
U.S. Marine Corps training software coders at new, in-house factory (MCT)
First U.S. Army units begin replacing M113s with new Armored Multipurpose Vehicle (DN)
Pentagon sees spike in demand for Tomahawk missiles (DN)
New U.S. Army helicopter engines delayed, again (DN)
U.S. Space Force wants $340M for new training infrastructure (DO)
Pentagon nears first awards on $9B cloud computing program (C4ISR)
As focus shifts towards the Arctic, Denmark seeks cold-hardy small drones (DN)
Norway to spend $1B+ on new NH-60 Seahawk helicopters (BD)
German military manufacturers seek clarity on priorities for Ukraine (AP)
Lithuania seeks up to 54 more main battle tanks as it shuffles defense plans (DN)
Britain, Japan, and Italy to collaborate to build advanced fighter jet (RT)
South Korea to spend billions to buy more F-35s, SM-6 missiles (DN)
Chaos Industries raises $70M Series A to make sensors (CB)
Space
Virgin Orbit pauses all operations, furloughs staff (AT)
NASA, Axiom Space unveil new, sleeker space suit for Artemis missions (NYT)
SpaceX resupply mission docks to ISS (NASA)
Resupply delivery included 3D printers to be tested in space (WESH)
Small asteroid to pass earth, closer than moon this week (Space)
Arianespace wins Vega contract for Italian imagine satellite constellation (SN)
RocketLab launches second Electron rocket from Wallops Island, VA with Capella Satellites (SN)
NASA want a new tug to deorbit space station in 2030 (Space)
UK and Japan sign space cooperation pact (RT)
UK government backs Rolls Royce plan for nuclear power on the moon (UK)
Aerospace firm Astra may conduct a reverse stock split to avoid Nasdaq delisting (CNBC)
Nuclear Power & Weapons
Libya lost and recovered 2.5 tons of uranium (BBC)
400,000 gallons of radioactive water leaked from Minnesota nuclear plant (CBS)
Germany, Spain continue to push against classifying nuclear as sustainable (RT)
U.S. Senators push international nuclear energy cooperation (USS)
U.K. energy policy to include push for small, modular nuclear reactors (TG)
Inconsistent acquisition authorities could be hampering nuclear weapon modernization (BD)
Artificial Intelligence, Robotics, Energy, and other cool tech
Microsoft adds ChatGPT functions to business software (TC)
Quantum computing startup SEEQC builds chip capable of operating at temps colder than space (RT)
Quantum imagining doubles microscope resolution (DSCV)
Naval Research Laboratory launches first in-space laser-based energy experiment (NG)
Green Li-ion, a lithium ion battery recycling startup, raised a $20.5M pre-Series B led by TRIREC (PRN)
Nimble, an autonomous logistics and AI robotics company, raised a $65M Series B led by Cedar Pine (BW)
Drugs
U.N. Drug Agency: Global cocaine production at all time high (CBS)
Mexican President Lopez Obrador suggests total ban on fentanyl (YT)
Texas Congressman Crenshaw joins call for using military against Mexican cartels (WSJ)
Mexican pharmacies may be selling Fentanyl-laced medicines to tourists (NPR)
Social Media “influencers” hawking drugs (TG)
Psychedelics continue to show promising for therapeutic treatments (NIH)
National Security Innovation Base Report
The Reagan Foundation released a report on how the United States conducts innovation within the national security ecosystem. The report finds both successes (e.g., exporting knowledge) and areas of concern (e.g., innovation funding, retention of foreign talent). Highly recommend reading the report card.
Making Sense of SVB
20VC hosted a podcast on Monday focused on making sense of SVB failure and trying to understand what will happen next. Harry Stebbings was joined by Jackie Reses and Kris Dickson for this important episode.
Lighter Side
The difference a week can make:
As a bald man, I fully endorse this:
Here’s the proposed DoD budget for the year:
Keep building!
Andrew