Host Michael Sonnenfeldt sits down with national security entrepreneur and investor Peggy Steyer, Co-Founder and Managing Partner of Razor’s Edge Ventures. A pioneer in defense, cyber, space, and AI investing, Peggy previously built Blackbird Technologies into a premier provider of mission-critical solutions for intelligence, defense, and law enforcement customers before its record-setting acquisition by Raytheon. She later co-founded Raven Wing, which was acquired by Boeing, and went on to launch Razor’s Edge, generating more than $1 billion in shareholder returns over the past five years.

Peggy shares candid insights on building companies where lives are on the line, transitioning from operator to investor, and creating high-performance teams drawn from both special operations and elite technologists. Key topics include scaling in national security markets, Blue Ocean strategy vs. crowded competition, the proper role of boards and investors, asymmetric warfare and emerging threats, AI and geopolitical risk, founder resilience, partnership dynamics, and balancing mission critical leadership with family life and long-term purpose.

Giving Moment:

Join this season's philanthropic giving moment where every donation made in Q1 2026 will be matched dollar-for-dollar up to $100 per gift ($10,000 per organization). Donate at www.muus.com/giving.

Topics:

00:01:48 – Childhood, Navy upbringing, and early influences
00:03:38 – The layoff that sparked her entrepreneurial path
00:05:18 – Motivations beyond money
00:06:04 – Founding Blackbird & solving national security tech problems
00:09:10 – Women in national security & leadership advice
00:14:56 – The role of spouses and support systems
00:18:27 – Building, scaling, and exiting Blackbird & Raven Wing
00:23:33 – Transition from CEO to venture investor
00:26:41 – The proper role of a board vs. CEO
00:30:52 – Razor’s Edge strategy & Blue Ocean investing
00:35:33 – Responsibility in national security work
00:38:14 – Geopolitics, deterrence & asymmetric threats
00:42:19 – AI, China, and the future of technology
00:45:22 – Investment mistakes & lessons learned
00:46:52 – Advice for young entrepreneurs
00:49:20 – Books, leadership insights & closing

Mentioned:

TIGER 21 is the premier peer membership organization for ultra-successful entrepreneurs, investors, and executives. Through confidential forums and shared experience, members gain perspective on wealth, leadership, and life beyond success.

Peggy’s book recommendation - Team of Rivals: The Political Genius of Abraham Lincoln by Doris Kearns Goodwin

Follow and Connect:

Peggy Styer | Website

Michael Sonnenfeldt | Website | next@muus.com