At Andreessen Horowitz’s recent American Dynamism summit, Hadrian founder and CEO Chris Power painted a picture of the country in peril. “I’m here to talk to you about an existential risk to the future of the Republic and how Hadrian is trying to solve it,” he began. His words – a mix of rationalism and Marcus Aurelius – were not out of place at the event, which brought together a blend of investors, founders, policymakers and other Washington officials to discuss issues facing the country. A notable number of talks were related to Defense and national security, in line with the American Dynamism team’s investment portfolio, which includes bets on Defense Tech startups like Hadrian, Anduril and Shield AI. Just a few years ago, many investors thought that cutting a check for a defense-first startup was a proposition that simply didn’t make sense. The tides have clearly shifted: a16z is one of many firms that’s taken a stronger interest in defense and national security. PitchBook data supports this warming to defense tech. From January to …

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