[jvanderbot]

Anduril has a nice model. It's not unique to Anduril, but it is nice. Most R&D places with eventual infusion / sale to acquisition partners start with IRaD funding and move on to small scale demos and sales.

I can't comment on the major acquisitions like fighter jets and aircraft carriers, but this feels natural and familiar when it comes to these advanced, small-scale, systems-level engineering projects.