About this episode
Don’t miss our newsletter! Mike and Jake host defense industry legend Norm Augustine in a rare interview! He started as an aeronautical engineer in the 1950s and rose to become the first CEO of Lockheed Martin, before leaving it all. He lived through the 1980s defense industry heyday, wrote a hilarious book called ‘Augustine’s Laws ’ and led the industry through a massive consolidation in the early 1990s after the infamous ‘Last Supper.’ This is a first-hand account of how it all went down—he was in the room when it happened. Norm shares his professional experiences and some amazing personal stories—like how he almost bought Northrop Grumman. This is an interview you don’t want to miss. If you need any more reasons to listen, his resume and achievements are so incredible they sound made up: - Co-founded In-Q-Tel, the venture capital arm of the CIA - Chairman of the Red Cross - President of the American Institute of Aeronautics and Astronautics - President of the Boy Scouts of America - Chairman of the Aerospace Industries Association - President and Chairman of the Association of the United States Army - Chairman of the National Academy of Engineering - Served 16 years on the President's Council of Advisors on Science and Technology - traveled to 130 countries - holds 34 honorary degrees - received dozens of accolades, including the Pentagon’s highest civilian decoration, the Distinguished Civilian Service Award--- FIVE TIMES . For those interested in #defense #military #business leadership ---- Links • Sign up for our amazing newsletter ! • Support us on Patreon ! • Jake Chapman X (@vc) • Mike Benitez (Linked In) ---- Follow us on... • Instagram • Facebook • X (Twitter) • LinkedIn • Website ---- Show Notes (01:06) intro (03:48) 1950’s at Boeing & Douglas (04:59) Sputnik (05:45) becoming Under Secretary of the Army (08:59) working for Robert McNamara (14:24) Martin Marietta (15:47) Space shuttle story (22:23) 1980’s defense industry hey day (23:49) $600 roll of tape (29:25) Augustine’s Laws (40:04) The Last Supper (51:04) The industry consolidates in the 1990s (54:17) The ramifications today (1:02:12) How Norm became CEO of Lockheed Martin (1:05:34) Norm almost bought Northrop Grumman? (1:13:41) How Lockheed Martin got its name (1:16:16) the lawsuit (1:20:32) Why Norm left the defense industry (1:25:12) Norm’s passion now (1:26:18) 2 life-changing encounters (1:29:21) A call from the CIA leads to creating In-Q-Tel (1:36:44) outro