This isn't something you should do for steel, but it's a helpful tip for drilling soft materials that really like to jump up your drill bit and that aren't always practical to clamp.
The reason these materials, like Kydex for example, jump up your drill as you poke through the bottom, is that the cutting edge of your drill bit has lead into the flute, and it acts like a very coarse thread. As you break through, there is no more axial resistance against the chisel point of the drill, and your feed rate effectively jumps up from a few thousandths per revolution to double or triple that, and the material left in the bottom of the hole that would have normally been removed by the drills cutting edge is forced into the flute. The lands will sometimes cut this if you hold the part down firmly, but often not before it pulls up a bit.
If you modify your drill bit as shown below, with a stone or diamond file, to reduce this lead angle, the drill will still drill and cut these soft materials just fine, but it will no longer pull into the bottom of the hole.
How the drill normally looks:
The cutting edge has a very acute angle:
Flatten that angle out, almost parallel with the axis of the drill:
Still a sharp cutting edge, but a more obtuse angle that doesn't pull the work up the drill bit:
Again, only for soft materials. I have a couple drills in the common sizes I use for handle materials or kydex that are modified like this. I can drill through the bottom without any worry of pulling. Very handy for Kydex when drilling multiple layers. But any plastic really.