This is The Stepback, a weekly newsletter breaking down one essential story from the tech world. For more on aviation, air taxis, and Wi-Fi speeds at 30,000 feet, follow Andrew J. Hawkins. The Stepback arrives in our subscribers' inboxes on Sunday at 8AM ET. Opt in for The Stepback here. How it started Last year, [...]

Joby Aviation announced it was acquiring Dayton, Ohio-based defense firm Resonant Sciences in a $500 million deal, in a bid by the electric aircraft company to expand further into the military industrial complex. Joby says it expects to finance the deal with $450 million in cash and $50 million in equity. After the deal closes, [...]