Explore every episode of the podcast Joe Lonsdale: American Optimist

In the 1930s and 40s, the United States built thousands of airports; today that number is virtually zero. What happened? Why is it nearly impossible to build major new airports or even find hangar space in large cities? And how will the coming AI wealth creation exacerbate the supply and demand imbalance? Tal Keinan, founder and CEO of Sky Harbour Group, is addressing these challenges in the private aviation industry.

Born in Miami, Tal moved to Israel after college and was drafted into the military where he served as an F-16 pilot in the Israeli Air Force. In 2004, he founded Clarity Capital, and played an instrumental role in the growth of Israel’s tech ecosystem. He’s also the author of “God Is in the Crowd: Twenty-First Century Judaism.” In 2015, he purchased his own airplane in New York and quickly realized there was nowhere to park it. His experience led to the creation of Sky Harbour Group.

We begin with Tal’s path from fighter pilot to investor and his role in Israel’s economic miracle. Next, we dive into the history of America’s airports — thousands built in the 1930s and 1940s as New Deal jobs programs and World War II pilot training. Yet, America hasn’t built a new major airport in decades. Tal explains why general aviation airports struggle to turn a profit, why the FBO duopoly has no incentive to build more hangars, and how Sky Harbour pioneered the home-based operator model. Next, we explore how Tal uses AI throughout his business, particularly to pinpoint new hangar locations, and how the coming wave of AI-driven wealth will create even greater demand for private aviation. Finally, Tal shares his reasons for optimism and why he believes America, despite its challenges, always finds a way to course correct.

(00:00) Episode intro

(01:45) Eighteen years as an F-16 pilot

(04:00) Clarity Capital and Israel's tech explosion

(08:16) “Nowhere to park it” / Why did America stop building airports?

(10:40) Why general aviation airports don't make money

(13:15) The FBO duopoly & why they love NetJets

(16:05) How Tal created the home-based operator model

(19:10) How the Sky Harbour business model works

(24:50) How Tal uses AI to scout customers and locations

(27:09) AI wealth wave & private aviation boom

Rayan Krishnan is the co-founder and CEO of Vals AI, a leader in the independent evaluation of frontier AI models. What is the science behind model evaluation? What role should independent evaluators play as we debate AI oversight? How soon will models reach recursive self-improvement — and what happens next?

We’re joined by Rayan and 8VC Partner Vivek Gopalan for this timely conversation about AI progress and the frameworks for evaluating performance and risk. After interning at Microsoft in high school, Rayan studied computer science at Stanford. He went on to join Palantir, where he developed a feature the company later patented and productized, before launching Vals AI in 2023.

We begin with Rayan’s path to Palantir, key lessons from Alex Karp, and the origins of Vals. Next, we dive into how his team used Anthropic’s Fable to crack a 370-year-old cipher and whether AI is really making new discoveries and breakthroughs. Next, Rayan explains what model evaluation is, how to design new hills for models to climb, and why labs shouldn’t grade their own homework. Then, we cover recursive self-improvement and what happens once models begin creating their own successors. Rayan believes Anthropic will reach RSI by mid-2027 and talks about what might happen next. Finally, he addresses how models try to deceive evaluators, and why, despite serious challenges, he remains an optimist when it comes to AI.

(0:00) Episode intro

(2:00) Palantir, Machiavelli & lessons from Alex Karp

(7:50) Solving a 370-year-old cipher / Is AI making new discoveries?

(12:10) How do you measure AI abilities across finance, legal, etc?

(15:30) What is the science behind model evaluation?

(18:00) The importance of independent evaluation

(23:35) Evaluating Chinese models & addressing distillation

(26:45) Who will reach Recursive Self-Improvement first? Should we be worried?

(28:30) How models try to deceive evaluators

(33:00) Why Rayan remains optimistic about AI

Eric Glyman is the co-founder and CEO of Ramp, the finance platform doing over two billion in annual revenue and growing over 100 percent year per year. How did a company built on the promise of helping customers spend less become one of the fastest-growing AI businesses? What’s Eric’s unique approach to managing small teams of exceptional talent? And what does Ramp’s view into corporate spend reveal about AI adoption and where the economy is headed?

Before Ramp, Eric and co-founder Karim Atiyeh built Paribus, a “prehistoric AI agent” that scanned inboxes and secured price-drop refunds on customers’ behalf. Capital One acquired it a year after launch, and the two spent their time inside the bank studying how misaligned incentives shape what financial institutions actually do. In 2020, they launched Ramp and quickly became the fastest-growing corporate card and expense management platform.

We begin our conversation with the origins of Ramp, specifically how learnings from Paribus and operating inside a big bank revealed new possibilities. Eric explains why Ramp is a “productivity company that happens to move money” and how its obsession with outcomes, rather than selling products, drives its meteoric growth. Next, Eric explains the small-team philosophy behind Ramp’s speed, and why he takes the unusual step of breaking up teams after they reach a certain size. Then, we get a look inside the U.S. economy via Ramp’s unique insights into corporate expenses. For example, Eric explains that AI inference spend has grown five-fold in the past few years but still only amounts to two percent of all white-collar wages. After seeing the surge in inference costs, Ramp launched Router, which dramatically reduces customer inference costs — an example of prioritizing outcomes and operating at a speed that competitors can’t match. Finally, we talk about the impact of AI on white-collar work, and what it would look like to apply Ramp’s transparency and cost savings to the federal government.

(00:00) Episode intro

(01:45) $2B in annual revenue; origins of Ramp

(05:20) "A productivity company that happens to move money"

(09:30) Could Ramp have been built before AI?

(11:15) Selling outcomes vs selling products

(15:10) Why Ramp beat Brex

(17:00) 3% of corporate cards, 97% to go

(20:00) AI spend is 2% of all white-collar wages

(22:45) How Router saves businesses 40% on AI spend

(24:00) Eric's small team philosophy and how to kill bureaucracy

(33:00) How Ramp maps the US economy

(39:10) Can Ramp modernize government spend? Audit the Pentagon?

(44:30) Future of work / optimism for the future

Scott Kupor is the Director of the U.S. Office of Personnel Management and has achieved some of the most important reforms in DC in only a couple years. How has he reduced the size of the federal government for the first time in generations? How is he bringing merit back to the civil service? And what is he doing to incentivize and make it easier for our best minds to serve in government?

Before joining the Trump administration, Scott was employee number one at Andreessen Horowitz. As Managing Partner, he helped build it into one of the world’s largest venture firms. He’s also the author of the bestselling “Secrets of Sand Hill Road: Venture Capital and How to Get It.” In 2024, he was confirmed by the U.S. Senate as Director of the U.S. Office of Personnel Management, where he’s responsible for more than two million civil service employees and the policies governing their hiring, firing, and retention.

Recorded before a live audience at the University of Austin, we begin with Scott’s unlikely path to DC and the incentive problem at the root of government dysfunction. Learn how a consent decree over four decades ago killed entrance exams for federal jobs, and how Scott got it overturned — merit is coming back! He also explains how he executed the largest peacetime reduction in the federal workforce since 1930, while eliminating degree and experience requirements so we can get our top talent into government regardless of their background. Finally, Scott dives into the launch of the U.S. Tech Force and his effort to recruit an elite corps of software engineers to make government competent and functional again. He ends with his pitch to young Americans: if you want to take on some of the most complex problems that impact millions of your fellow citizens, there’s no better place than the U.S. government.

(00:00) Episode intro

(01:40) Why leave tech to be attacked in DC?

(06:27) Biggest federal workforce reduction in modern history

(08:45) How the left killed merit-based hiring

(14:40) How Scott is bringing merit back to DC

(15:50) Lessons from DOGE

(18:20) Hidden costs of outdated systems; billions wasted

(23:40) Building a U.S. Tech Force and hiring for skills

(26:20) Eliminating degree requirement to get the best talent

(27:16) Why should a young talented person serve in government?

(30:28) Optimism for DC; rejecting the blackpill

Anthropic is one of the fastest-growing companies in history and sits at the forefront of the AI race. This week, we’re joined by two key leaders on Anthropic’s technical team — Sholto Douglas and Nicholas Marwell — for an inside look at the AI frontier. Are we on the cusp of AGI — and what does that mean? What are they most excited about and most concerned about? And where does Anthropic stand on open source, as well as criticisms of its regulatory approach?

Sholto Douglas grew up in Sydney, Australia, where he studied robotics and taught himself Machine Learning research; he went on to work at DeepMind before becoming a tech lead in Reinforcement Learning (RL) at Anthropic. Nicholas Marwell, a San Francisco native, studied at Yale and joined Anthropic early in its journey to lead RL Science and now the Horizons team. We begin with the state of AI progress, and why Sholto and Nicholas believe AGI is likely within the next couple of years. We unpack their case for AI optimism, why biology is the most exciting next frontier, and whether a post-scarcity world is truly achievable. Then, they explain why the next decade “belongs to the generalists” and offer advice for young people entering the workforce in the coming years. Then we dig into the hard questions: offense vs. defense in cyber and bio, regulatory capture, open source, distillation, and competition with China. We also discuss the importance of virtue, faith, and institutions, and whether the leading AI researchers in Silicon Valley share the values of the heartland. Finally, they offer a few predictions for the years ahead and whether AI will soon win a Fields Medal or even a Nobel Prize.

NOTE: This conversation was recorded about a month ago, and delayed beyond our control, but it’s still timely.

00:00 Episode intro

02:00 Self-taught ML; Unlikely paths to Anthropic

04:13 What are the most exciting things you’re working on?

07:48 Have we reached AGI — and what comes next?

10:10 How to measure AI progress

14:05 Is biology the next great frontier?

16:30 Career advice & the decade of the generalists

19:10 What could go wrong? What are the biggest AI risks?

22:50 Offense vs defense; how technology evolves

24:50 Answering the regulatory capture critique

30:15 Anthropic’s stance on open source

31:30 Would you slow down and let China go ahead?

32:50 Anthropic’s view on distillation

39:50 Is a post-scarcity world achievable?

48:30 How do we preserve values, tradition & community?

54:45 Predictions for 2028

John Jovanovic is the President and Chairman of the Export-Import Bank of the United States. After years of mismanagement, Ex-Im is now profitable and has become a key driver of American reindustrialization. How did he turn the bank around? What's behind a new $12 billion critical mineral reserve to secure supply chains? And how is he seeing AI impact factory floors across America?The grandson of a Chicago steelworker, Jovanovic spent his career in energy, commodities, and supply chains — most recently as Chief Strategy Officer at Asplundh, the largest provider of critical infrastructure services across North America. He went on to serve in the first Trump administration at the Development Finance Corporation, where he opened the DFC's first overseas office to counter Chinese and Russian influence in the Balkans. In the fall of 2025, he was confirmed by the U.S. Senate to lead the Export-Import Bank.We begin with Jovanovic's turnaround of Ex-Im: he lays out his key reforms and explains why he spent his first hundred days in the building instead of traveling the country. Next, we dive into Project Vault, the $12 billion public-private critical mineral reserve he announced alongside President Trump to shore up American supply chains. Then, we explore his thesis behind the "revenge of the physical world," why AI is a shot in the arm for reindustrialization, and what Jovanovic is seeing on factory floors across the country. Finally, we discuss the backlash against data centers and lay out the case for AI optimism and how to ensure all Americans benefit from this massive opportunity.

(00:00) Episode intro

(02:00) If you can’t manufacture, you can't innovate

(09:00) Grandson of a steelworker; John’s background

(11:18) Countering Chinese & Russian influence in the Balkans

(15:55) Senate confirmation & how to build bipartisan support

(21:45) How John made Ex-Im profitable again

(28:10) Securing supply chains: $12B critical mineral reserve

(35:40) Superhuman strength: AI & reindustrialization

(38:08) Addressing data center backlash & AI safety

(41:57) Optimism for DC & America’s future

Brian Chau is an investigative journalist using AI to uncover widespread corruption and billions in fraud. He recently revealed how the Effective Altruism movement bought and planted AI doomer articles, and he exposed the firm behind the frontier lab hack that's fueling AI hysteria. Now he's breaking his newest story: a $21 billion racial wealth transfer in healthcare payments across 35 states. How is he using AI to uncover stories that no other journalist could find? Why does he believe that AI is ultimately on the side of liberty and transparency? And can AI-powered accountability rebuild trust in media?

We discuss these timely issues and more with Brian, founder of Effort News. At 15 years old, Brian was the youngest person in North America to win an IOI gold medal in competitive programming. He went on to study at Waterloo University before leading Alliance for the Future, an AI policy organization in DC. There he encountered the broken state of media firsthand and decided to build Effort News.

We begin with Brian’s path from competitive programming to the “dirty news business,” and how he saw a generational opportunity to save journalism by applying AI to uncover massive fraud and corruption. Next, we break his latest news: an investigation into Health Equity Incentives — a $21 billion discriminatory transfer of Medicaid and Medicare dollars away from White and Asian people to Black and Hispanic. Then, we discuss his recent investigation into the UK counterterrorism program that flagged the writings of Douglas Murray and George Orwell as terrorist threats, and how Effective Altruism NGOs are funding AI doomer articles. Despite the splintered, tribal nature of journalism today, Brian believes that provable, AI-verified reporting will become the standard and rebuild confidence in our key institutions.

00:00 Episode intro

01:40 Youngest American to win IOI gold

04:30 AI journalism; uncovering what legacy media can't

09:30 Is Effort News nonpartisan? Answering the critiques

11:25 Breaking news: $21 Billion Racial Wealth Transfer

17:30 Exposing the UK's counterterror incompetence

22:00 How Effective Altruism & AI doomers bought the media

24:00 Anthropic "whistleblower" connection to left-wing NGOs

28:50 How do you account for bias in your reporting?

34:30 How to build a media business in 2026

42:30 AI for liberty and accountability; optimistic vision for the future

Until recently, robots were constrained to narrow, specific tasks. Think assembly lines, medical devices, or household vacuum cleaners. But now all that is changing. One robot trained by Generalist's foundation model can do everything from folding clothes and washing dishes to sorting objects and repairing other robots. How are Pete Florence and the Generalist team bringing AI to the physical world? Why is intelligence, not hardware, the key unlock for robotics? And how could general-purpose robots unlock 10 times more scientific progress in the years ahead?Pete grew up in the Bay Area, earned his PhD at MIT, and became a star scientist at Google DeepMind. In 2023, he left to co-found Generalist, which builds robotics foundation models to help bring general intelligence to the physical world. Its latest model, GEN-1.5, can now train robots in a matter of seconds on simple tasks such as folding laundry and sorting objects. For this conversation, we're also joined by 8VC Partner Vivek Gopalan. We begin with Pete's entrepreneurial journey and his epiphany in grad school — walk into any robotics lab and the robots were standing still most hours of the day. Pete unpacks why robots, like humans, learn through data and experience, and why intelligence, not hardware, is the next frontier for robotics. At DeepMind he specialized in bringing multimodal learning (language models + vision models) into robotics, and he's now bringing that to the next level with robotic world models at Generalist. We dive into robotics' GPT-3 moment, the emergent capabilities Generalist is seeing — including self-taught ambidexterity — and the data moats that will shape the industry. Finally, we explore what a world of abundant robots means for science, reindustrialization, and American prosperity.

00:00 Episode intro

01:30 Bay Area to MIT and DeepMind

03:55 Pete's epiphany: robots sitting still

08:30 Why intelligence, not hardware, is the next frontier

13:20 The GPT-3 era of robotics

14:55 Why leave DeepMind?

16:50 How to train robot brains

18:30 Emergent ambidexterity

20:40 LLMs vs robot world models

23:50 GEN-0, GEN-1 & scaling laws in robotics

27:28 10x more science per year

32:50 Skilled trades, reindustrialization & future of robots

Aaron Levie has spent two decades building Box into a cloud storage leader — and he's never been more excited for the future. What's next in the AI wave? Where is he already seeing evidence for new job creation? What do the doomers and accelerationists both get wrong? And why is Silicon Valley's biggest AI challenge self-inflicted?

We discuss these topics and more in this week's episode with Aaron. Originally a college project to access his files from anywhere, Aaron dropped out of USC in 2005 to build Box. He raised his first funding from Mark Cuban and pivoted to the enterprise. Today, Box is a multi-billion dollar company serving 120,000 global customers, and Aaron has become one of tech's leading voices on AI in the enterprise.

We begin our conversation with the state of model progress and the unprecedented speed of the AI era — companies going from zero to $500M in revenue in a year or two. We also discuss the Kimi K3 debate and China closing the gap on the U.S. in the AI race. Next, Aaron explains why diffusion, not intelligence, is the real rate limiter for AI adoption, and what the challenges will be at the enterprise level. Then we dive into the jobs debate: Aaron explains the 13 new types of jobs AI has created at Box, why law firms now need teams of engineers for their own custom AI models, and why mass job destruction means betting against markets themselves. Finally, we tackle Silicon Valley's self-inflicted AI crisis and why it may become the number one issue of the next presidential election.

(00:00) Episode intro

(01:15) AI wave / every two months is a year now

(06:30) China, Kimi K3 & open-source debate

(10:45) Diffusion is the real rate limiter

(15:50) Agent-first startups vs incumbents

(19:00) Nobody reads those contracts — AI’s new work

(23:35) Silicon Valley’s AI Problem / Larry David making AI models

(29:20) 13 new types of AI jobs at Box

(32:20) The origins of Box / dropping out of college

(37:00) Favorite angel investments right now

(40:20) Optimism for America’s future

Aaron Cannon is applying AI to solve one of the oldest and most important challenges in business: understanding exactly what customers want and need. Traditional consumer surveys often provide low-quality data, while one-on-one interviews are cost-prohibitive and not scalable. But AI unlocks profound new possibilities. How is Aaron using AI to conduct deep, insightful interactions at scale? What happens when organizations have always-on customer understanding? And what are the new opportunities for incorporating real-time feedback into product improvements?

Aaron Cannon is the co-founder and CEO of Outset, one of the fastest-growing, agent-led customer research platforms. Try it yourself here and help us improve American Optimist; we'll incorporate the top recommendations!

Prior, Aaron was the head of product at Untapped and Triplebyte and worked in senior product roles at Tesla, Pebble, and Monitor Deloitte. He launched Outset in 2022 after seeing an opportunity with large language models to fundamentally change how organizations learn from the people they serve. For this conversation, we're also joined by 8VC Partner Jack Moshkovich, who helped lead our investment in Outset.

We begin with Aaron’s path to founding Outset and the inefficiencies he saw in traditional customer research. Next, we explore how Outset’s AI-moderated interviews work in practice — from consumer studies to enterprise deployments at Microsoft, Google, and Uber. Learn how AI-led interviews can actually elicit more honest and in-depth responses than human-led conversations. Then, we dive into the explosive growth of the company — 8X revenue over the past year — and its “forward-deployed researchers" model. Finally, Aaron shares his vision for "self-driving research": AI that doesn’t just gather feedback but helps close the loop by identifying problems and even suggesting fixes — ultimately leading to improved products, experiences, and organizations.

00:00 Episode intro

01:10 Aaron’s entrepreneurial journey

06:00 How does AI-moderated research work?

09:25 Why people will talk to AI more than humans

13:40 How Outset landed Microsoft, Google & Uber

14:55 Are you replacing human jobs?

20:56 New possibilities for real-time product improvements

23:30 The pros and cons of synthetic research

28:00 Insane growth / how Outset 8X’d revenue

35:00 How AI is upending a $140B industry

Nima Ghamsari was a top talent at Palantir before founding Blend Labs to digitize the mortgage process. Blend became one of Silicon Valley’s hottest SaaS companies until the mortgage industry came to a screeching halt in recent years. Now, the AI wave has Blend poised for a comeback. What will the future of home buying look like? Why is Nima all-in on AI agents? And how can AI supercharge established tech companies with the will and talent to rethink things from scratch?

In this episode, we’re joined by the Founder and Head of Blend, Nima Ghamsari. We begin with his parents immigrating from Iran to the U.S. in the 1980s and how Nima made his way to Stanford. He quickly made a name for himself as a talented online poker player — winning millions of dollars and famously showing up to Palantir as a new hire in an Aston Martin. Learn about the lessons Nima brought with him from Palantir into building Blend, and how he took on the ambitious task of bringing the outdated, cumbersome mortgage process online. Next, we dive into Blend’s meteoric rise and fall as the U.S. mortgage industry hit the skids in recent years. Now, Nima believes AI has the company poised for a comeback. Learn about its AI agent, “Autopilot,” and why Blend has the most deployed agents in financial services right now. On this podcast, we talk a lot about new AI-first companies; Blend is a great example of a talented SaaS company embracing AI for a powerful Act II.

00:00 Episode intro

01:45 Millions playing poker to joining Palantir

06:00 Most important lessons from Palantir

07:30 Founding Blend / understanding the mortgage industry

11:25 How to win over banks and risk-averse customers

15:50 Blend’s meteoric rise and fall

19:00 Going all-in on AI agents / Blend’s Act II

22:55 Is Blend undervalued today?

26:50 Impact of AI on internal operations / increased productivity

32:00 The future of SaaS

36:20 The optimistic case for AI

Disclosure: Joe Lonsdale is a principal of Eight Partners VC, LLC (“8VC”), a registered investment adviser whose funds currently hold shares of Blend Labs, Inc. (“Blend”). Joe also has a longstanding personal relationship with Blend and its CEO, having served as an early investor, adviser, and board member. The statements in this episode reflect Joe’s personal views as of the date of recording and may contain forward-looking statements that are subject to risks, uncertainties, and assumptions. Nothing in this episode constitutes investment, legal, tax, or financial advice, nor should any statement be understood as a recommendation to buy, sell, or hold any security or invest in any 8VC-managed vehicle. Listeners should conduct their own research and consult their own professional advisers before making any investment decisions. American Optimist is Joe’s personal podcast; the views expressed are his own and do not necessarily represent the views of 8VC or its affiliates.

In 2010, the U.S. and China were at parity in electricity generation. Today, China boasts triple our capacity. We’re at the vanguard of the AI revolution but falling dangerously behind in energy production. Scott Nolan has identified a key bottleneck in nuclear energy and is at the forefront of the effort to scale nuclear power and help America achieve energy abundance.

While studying at Cornell University, Scott landed an internship at Boeing. He quickly jumped to SpaceX as an early employee and worked on the Falcon propulsion systems and Dragon capsule. He later became Partner at Founders Fund, where he focuses on energy, infrastructure, biotech, and other key sectors. In 2024, he founded General Matter to rebuild America’s nuclear enrichment capacity.

We begin the episode with Scott’s entrepreneurial journey, the contrast between Boeing and SpaceX, and how to build a culture that prioritizes speed and performance in a highly regulated sector. Next, Scott explains the origins of General Matter and breaks down the science behind creating nuclear fuel. In the 1980s, the U.S. produced 80% of global enriched uranium; today that number is zero. Learn how post-Cold War disarmament destroyed our capacity to the point where we are now reliant on Russia, among others, for enrichment. Scott explains how China surged ahead in electricity generation, and what it will take to jumpstart America’s nuclear renaissance. Finally, we cover exciting new possibilities, including nuclear power in space and on the moon, and what a future of cheap, abundant energy could look like.

00:00 Episode intro

01:20 Boeing vs SpaceX / lessons on speed & performance

05:20 What made SpaceX unique?

09:05 General Matter / how to make nuclear fuel

16:45 Disarmament and relying on Russia

19:50 The AI energy crisis / falling behind China

24:30 Founders Fund and energy investing

27:15 How to scale nuclear energy

32:00 How to fund the nuclear buildout

36:15 Nuclear in space & new possibilities

Is America’s national wealth built on slavery? Are disparities between races today attributable to past injustices? Will we ever overcome race politics? These difficult questions are at the heart of Coleman Hughes’ new course at the University of Austin titled “The Legacy of Slavery.”

Coleman is one of the clearest voices confronting race-essentialism in America today. He’s the author of The End of Race Politics: Arguments for a Colorblind America, host of the Conversations with Coleman podcast, and a visiting professor at the University of Austin.

In this episode, Coleman takes us behind the scenes of his new UATX course, where he examines the two opposing philosophies that emerged from the civil rights era: Dr. King’s colorblind vision and Derrick Bell’s Critical Race Theory. He breaks these down into two camps -- minimalist and maximalist -- and explains how he equips students to weigh the merits of each side. He contrasts the UATX approach, where Thomas Sowell versus Ta-Nehisi Coates takes center stage, to his time at Columbia University and its obsession with racial grievances. Then we dive into a few legacy debates: Is America’s wealth due to slavery? Is the collapse of the two-parent black family a result of past injustice? Finally, Coleman lays out three steps toward an optimistic vision for race in America: get race out of the law (end affirmative action), stop programming children to see race, and foster a growing economy with opportunity for all.

00:00 Episode intro

01:40 Teaching the Legacy of Slavery

06:20 Coleman’s journey from Columbia to UATX

08:30 Dr. King vs Derrick Bell

11:20 Racial disparities by IQ and salary

13:00 Thomas Sowell & the Real History of Slavery

19:00 America’s Founding hypocrisy

24:00 Will the Left cancel Dr. King?

26:20 Understanding the 1619 Project

30:25 Breakdown of the black family

37:20 Is America wealthy because of slavery?

43:50 Are you worried about woke AI?

45:40 Three solutions for racial progress

As a former Principal at Founders Fund, Founding Partner at SciFi VC, and 8VC advisor, Eric Scott has invested in and helped build numerous technology leaders. He’s launching his new fund, Overlook Capital, where he sees missed opportunities in the market. How has venture investing evolved in recent years? Where does he see the dislocations? And how will AI change the game going forward?

After graduating from Claremont McKenna College, Eric emailed his way into Max Levchin’s network, becoming an early employee at HVF Labs where he learned to invest and build companies. He later spun out SciFi VC as its Founding Partner, before landing as a Principal at Founders Fund. He was an early investor in Anduril, Crusoe Energy, among others, and a senior advisor at 8VC where he helped us launch Harbor Health.

We begin our conversation with Eric’s journey — from persuading Max Levchin to hire him as a technical assistant to investing at HVF and launching SciFi VC. Next, we dive into the state of venture today. Learn why Eric believes that larger and larger fund sizes are concentrating capital into the hottest AI bets, creating real inefficiencies just below the top tier. He lays out the thesis behind his new firm and where he sees missed opportunities. Finally, Eric shares his optimistic vision for the years ahead and why he believes this is one of the best times in a generation to start and build important companies.

00:00 Episode intro

01:30 Meeting Max Levchin and learning to build

06:30 Launching SciFi VC & investment lessons

12:05 How VC is changing

13:40 Biggest missed opportunity in venture

16:15 Enormous dislocations in the market

21:30 How AI is changing the game

24:00 Overlook Capital

27:50 Optimism for the future

Jacob Helberg is leading the State Department's efforts to secure critical supply chains and win the global AI race. How is the U.S. shifting from dependency on China to building new partnerships around energy, minerals, and infrastructure? Which economies will grow fastest in the AI era? Who will be left behind? And how will this impact geopolitics? We discuss these timely topics with Jacob, Under Secretary of State for Economic Growth, Energy, and the Environment. A tech policy veteran who worked at Google and Palantir before serving on the U.S.-China Economic and Security Review Commission, Jacob was confirmed last fall to help execute the administration’s economic statecraft agenda. He's the author of "The Wires of War: Technology and the Global Struggle for Power."We begin our conversation with Jacob’s mission at the State Department and the launch of Pax Silica: a new US-led economic security coalition to secure supply chains and help America dominate in AI innovation. We dive into Jacob's recent deal in the Philippines to build an AI-native industrial hub, and explore the contrast with China’s Belt and Road Initiative. Next, Jacob makes the bull case for AI drawing on lessons from history: the PC revolution displaced 3.5 million jobs, he explains, but created 19 million more with the advent of the software industry! Finally, he explains why principled, positive-sum diplomacy is delivering results where old models failed, and how the AI revolution is transforming the global balance of power.

00:00 Episode intro

02:30 Historic deal with Philippines

05:25 Jacob's background

07:30 Why is Europe falling behind?

13:00 The asymmetric power of tech

15:35 Jacob responds to AI doomers & skeptics

19:15 Global Competition: China, AI, and Diverging Growth

21:45 What is Pax Silica?

23:45 New Global Order in AI age

29:30 Is China pushing back?

31:45 Optimism for the future

Shyam Sankar is one of my favorite American innovators. As CTO of Palantir, he's been a key leader for over 20 years and built much of what the company stands for. He's also a patriot, and recently commissioned as a Lieutenant Colonel in the U.S. Army Reserve. His new best-selling book "Mobilize" lays out the crisis of the American industrial base, how to revive what made us a global superpower, and what it will take to prevent the next great power conflict.

Shyam's father was raised in a mud hut in India. He and his family relocated to Nigeria but fled to the United States after armed robbers nearly murdered them. Shyam joined Palantir as the 13th employee, where he helped shape its unique culture, develop key business strategies, and scale Palantir into a $300+ billion global software giant. In 2025, he was commissioned as a lieutenant colonel in the Army Reserve's new Detachment 201: Executive Innovation Corps, and earlier this year, he released "Mobilize: How to Reboot the American Industrial Base and Stop World War III."

We begin our conversation with Shyam’s extraordinary journey to the U.S. and what this country means to him. Next, we reminisce about the early days at Palantir and what made the culture unique, from his famous Shyam-isms to living in the office for a month straight to earn free BBQ Fridays. Learn how Shyam coined the term "Forward Deployed Engineers" and proved that the best software is built shoulder-to-shoulder with the customer. Then we dive into his new book and the dangerous atrophy of America’s defense industrial base. Shyam reveals that the U.S. expended 10 years of production in 10 weeks of conflict, and explains how we can once again become the arsenal of democracy. We also discuss the culture at the Pentagon and why some heretics must be protected at all costs. Finally, we explore the clash between leading AI researchers and the Department of War, and how to bridge the gap between Silicon Valley and D.C. and secure the next great American century.

00:00 Episode intro

01:45 Mud hut in India to life in America

05:25 Employee #13 at Palantir

09:45 How Shyam created Forward Deployed Engineers

13:05 What are Shyam-isms?

14:55 Business discipline & learning to say no

19:20 The crisis of the American industrial base

24:00 Some heretics must be protected

29:00 The factory is the weapon

34:00 Magical AI weapons

43:00 Optimism for America's future

Ben Black is the CEO of the U.S. International Development Finance Corporation (DFC). Backed by a $205 billion budget, his mandate is to invest in U.S. strategic interests, build new markets, and deliver real returns for taxpayers. What projects is the DFC prioritizing? How is he countering China's trillion-dollar Belt and Road Initiative? And how is the Trump administration shifting from a paternalistic view of foreign aid toward investing with accountability and an expectation of returns?

A history major at the University of Pennsylvania, Ben began his career in finance at Goldman Sachs before earning a JD and MBA at Harvard. He worked in private equity at Apollo Global Management before founding the investment firm Fortinbras. Last fall, he was confirmed by the U.S. Senate as CEO of the DFC. His drive to serve was shaped by his grandfather, a WWII tail gunner in the Aleutians, and by watching his father build Apollo into a global powerhouse.

We begin our conversation with Ben’s entrepreneurial journey before diving into the history of U.S. foreign aid. Learn how the U.S. regressed from the Marshall Plan, which rebuilt Europe and fostered investment in America, to promoting a culture of waste and dependency in foreign aid — and how the Trump administration is reversing course (check out our essay from January 2025 on these issues). Next, Ben lays out the flaws in China's extractive Belt and Road model and explains how the DFC is developing trusted partners, promoting free-market principles, and investing strategically. From maritime insurance in the Strait of Hormuz to rare earth mining, Ben reveals some of the DFC's recent wins and where he sees new long-term partnerships in South America and Asia. Instead of showering NGOs with taxpayer dollars and creating charity cases abroad, the Trump administration is restoring discipline and accountability — and Ben is a key leader in executing this vision and generating returns for the American people.

00:00 Episode intro

01:25 Ben’s path to DFC

08:30 $205 billion to invest abroad

10:00 Rethinking foreign aid

13:00 From Marshall Plan to waste and fraud

18:50 The Trump administration’s new approach

21:50 Countering China’s Belt & Road Initiative

28:00 Post-WWII order is changing / new opportunities

33:10 Maritime insurance and Strait of Hormuz

37:00 Optimism for America’s future

Michael Milken revolutionized American finance and democratized access to capital for thousands of companies that Wall Street had previously written off. Yet he was unjustly attacked in the 1980s in one of the most controversial prosecutions in U.S. history. As one of Michael’s key defense lawyers, Richard Sandler sets the record straight in his new book: Witness to a Prosecution: The Myth of Michael Milken. How did Michael transform capital markets through high-yield bonds? Why was he unfairly targeted? Why did he ultimately agree to a plea deal? And what are the lessons about government power that everyone should learn?

We dive into these topics in this week’s episode with Richard Sandler, Partner at the law firm of Maron & Sandler and Executive Vice President and Trustee of the Milken Family Foundation. Richard and Lowell Milken, Michael’s younger brother, met in first grade while growing up in Los Angeles. After practicing law with his father, Richard joined Michael and Lowell’s firm -- Drexel Burnham Lambert -- to help the high-yield bond team. He saw firsthand the entire saga: the explosive rise and fall of Drexel, the unprecedented investigation, and ultimately, President Trump’s pardon of Michael in 2020.

We begin with Michael’s breakthrough in high-yield bonds. Learn how he almost single-handedly transformed the “junk bond” market from $70 billion to $700 billion in a decade, and helped finance the growth of great American entrepreneurs and companies — Ted Turner, Steve Wynn, MCI Communications, among others. Next, Richard walks us through the investigation: the unprecedented use of RICO against Drexel, the targeting of Lowell as a “hostage,” and the novel charges Michael ultimately pled to (none of which had been prosecuted before or since). Finally, we explore the deeper lessons about prosecutorial power, media narratives, and Michael’s extraordinary resilience. He has pushed forward medicine, science, and education in myriad ways, while inspiring many of our great leaders today.

00:00 Episode intro

01:35 Richard’s career & Michael Milken’s legacy

06:25 Why write this book?

08:00 How Michael Milken transformed finance

14:00 Why did they go after Drexel & Michael?

19:30 Using RICO to bring down Drexel

22:30 Prosecutorial abuse & the power of government

26:30 Why did Michael agree to a plea deal?

33:25 Trump grants Michael a full pardon

35:00 Lessons on government power, media influence & Michael’s resilience

John Melas-Kyriazi is the co-founder and CEO of Standard Metrics, which powers portfolio management for more than 150 venture capital firms and 10,000 companies. He runs a high-growth SaaS company at the leading edge of the AI wave. How is AI transforming how investors source and diligence deals? How are agents parsing pitch decks, prepping board meetings, and building powerful new workflows? And as competitive advantages shift, what are the new moats for SaaS companies in the AI age?

We discuss these and other timely topics with John. At an early age, he fell in love with science fiction and built vacuum-tube amplifiers in his parents' basement, before studying physics and materials science at Stanford. There he became a research scientist until pivoting to investing, first at StartX and later Spark Capital. Born out of firsthand experience, he co-founded Standard Metrics alongside the 8VC Build team to create a better solution for portfolio management software.

We begin our conversation with John’s path from academia to investor and founder. Next, we explore how Standard Metrics centralizes data, improves portfolio intelligence, and powers smarter investment decisions. Then we dive into the new possibilities with AI, from technical diligence copilots and investment stress-testing to new workflows and internal AI analysts. In an era of new agentic tools and shifting competitive advantages, we discuss new moats for existing software companies built around network effects, data, and more. The world of finance is changing quickly; John offers a unique perspective on the AI wave and how top investors are leveraging new workflows to get ahead.

00:00 Episode intro

02:10 Academia to investor and founder

08:00 The pain point that led to building Standard Metrics

12:10 How AI is transforming venture capital

14:20 AI as a technical copilot

17:10 AI Analyst vs human in the loop

19:20 Parsing pitch decks and new AI tools

23:10 How AI search is changing marketing

28:30 New capabilities and workflows

33:47 How quickly is everything changing?

In the coming years, over two million small businesses will change hands or close their doors as Baby Boomers retire. Will Fry, Founder and CEO of American Operator, is on a mission to save Main Street and seize this opportunity for the next generation of local owners and operators. How does the operate-to-own model work? Should talented young people think twice about traditional careers and pursue ownership opportunities instead? And why is Will especially bullish on small business in the AI age?

Raised in a small town in North Carolina, Will developed an early love for building, starting with electronic kits and later unique apps. After studying at Penn and Wharton, a trip home revealed the looming crisis: millions of local businesses that lack succession plans. This sparked the creation of American Operator, which pairs retiring owners with high-agency operators, along with the capital and know-how to build a thriving business.

We begin with Will’s entrepreneurial journey and the coming “Silver Tsunami.” Will explains why only 48% of small business owners have succession plans and what this means for the next generation of owner-operators. He highlights stories like Greenway Painting in Jackson, Wyoming, and how American Operator is helping create millionaires on Main Street while keeping local business local. Next, we explore the historical and cultural importance of small business in America, dating back to John Hancock’s import-export firm and Ben Franklin’s printing shop. Looking ahead, we examine AI’s impact on small businesses. Learn why Will believes SMBs are a great AI hedge, while also having unique upside as new AI tools make small cohorts of people dramatically more productive. Finally, Will explains the operate-to-own model and how American Operator aligns incentives so that original owners become valuable advisors, new operators can earn their way into majority ownership, and American Operator remains a committed partner over the long run.

00:00 Episode intro

01:25 Will’s entrepreneurial journey

04:15 The small business succession crisis

06:40 American Operator’s approach vs. private equity

11:55 Does AI mean boom or bust for small business?

15:55 Forget law school? Buy a small business instead?

21:20 AI use cases for small business

23:00 Why many business owners shut down instead of sell

26:00 How the operate-to-own model works

33:50 Optimism for Main Street America

Last year, JoeBen Bevirt joined the show to discuss the vision behind Joby Aviation and bringing air taxis to life. Now, he's back to talk execution and getting to market this year! What states will be first to offer Joby rides — and when? How is Joby ramping up manufacturing to meet the moment? And how is AI making Joby’s top scientists over 10X more productive and accelerating decades of advancement into the next few years?" As Founder and CEO of Joby Aviation, JoeBen has spent more than a decade building Joby into the leader in electric vertical takeoff and landing (eVTOL) aircraft, and we begin with its unique design: 100 times quieter than a helicopter and dramatically safer to operate with layered redundancy across six propulsion stations, dual motors, and dual battery packs. Next, we talk about the significance of Joby's partnership with Toyota, how they're ramping up manufacturing, and why they're massively expanding their Ohio facilities. Then, JoeBen lays out their regulatory progress, from achieving their first FAA-conforming aircraft to the White House's historic pilot program that will bring air taxis to 12 states starting this year, including Texas!Additionally, we explore the coming age of autonomy, why Joby is partnering with NVIDIA to build out its autonomous flight stack, and how AI is transforming everything from aerodynamics research to back-office tasks. You'll also learn about Joby's breakthrough hydrogen-electric program — unlocking long-range commercial and defense applications — and why staying ahead of China is critical for American leadership in this next age of flight. Finally, JoeBen shares his grand vision for an electric era of aviation and a future without traffic — something we can all get behind.

00:00 Episode Intro

01:50 What sets Joby aircraft apart

04:50 Key partnerships with Toyota & NVIDIA

06:50 Closing in on FAA Certification

08:00 Air Taxis coming to 12 states this year!

13:35 Autonomous flight is the future

20:00 Hydrogen aircraft for the Pentagon

24:10 Why AI is a game changer

28:15 Expansion in Ohio and Global Competition with China

34:40 Addressing critics / future vision

35:50 Making air travel ubiquitous

Scott Wu and Russell Kaplan, co-founders of Cognition, are leading one of the fastest-growing, talent-dense AI companies. Their mission: make expert software engineering ubiquitous. What does a world of software abundance look like? How is Cognition delivering massive productivity gains inside some of the largest companies and organizations? And can AI finally modernize the broken, $100 billion government IT systems?

We discuss these and other timely topics with Scott and Russell. Scott was a three-time gold medalist at the International Olympiad in Informatics and world champion at age 17. After high school, we hired him at Addepar, where he became a top software engineer. Russell began his career as a machine learning engineer on Tesla’s Autopilot team before selling his video data company, Helia, to Scale AI. In 2023, Scott and Russell co-founded Cognition, and a year later, they shocked the technology world with the release of Devin, the first AI software agent.

We begin our conversation by discussing the incredible collection of young talent at Cognition, and why the next generation has new advantages in the AI era. Next, we catch up on Cognition’s explosive growth: Devin usage in the first few months of 2026 already surpassed all of 2025. Scott reveals that Cognition engineers no longer write code and explains how they’re able to test and ship new products faster than ever before. Then, we dive into the new era of software abundance and what it means if everyone has access to high-quality engineering, from modernizing large legacy enterprises to supercharging small businesses. We also discuss Cognition’s recent foray into government services and its work to modernize complex outdated systems. Finally, we explore the talent flywheel that has drawn so many former founders to Cognition, and why Scott and Russell believe we’re moving from Minecraft “survival mode” to “creative mode” — where the only limit to building is imagination itself.

00:00 Episode intro

01:35 Why technical talent & execution matters in AI

06:10 Do young people have an edge in the AI era?

08:26 Cognition’s rapid growth

11:55 The new era of software abundance

14:30 Cognition engineers don’t type code anymore

19:20 “Never sleep while Devin is idling”

21:25 The case for AI disinflation

23:50 How Devin generates 12X productivity gains

28:25 Cognition for government / taking on complex, broken systems

36:40 The AI race / competition with Anthropic

39:00 Forward deployed engineers?

43:40 How fast are LLMs improving?

47:10 AI-led small business explosion

Jake Paul is a social media influencer-turned-entrepreneur and boxer. He’s not only one of the most popular figures on the planet among Gen Z, but also an outspoken patriot, capitalist, and builder. Together, he and Geoff Woo founded Anti Fund and have backed OpenAI, Anduril, Ramp, among others. Why did Jake decide to speak out on politics? How do we win over the next generation? And how is AI changing the culture, from new social media platforms to prediction markets and the revival of in-person events?

We recorded this conversation the day after Jake appeared with President Trump at a Kentucky rally. He explains why he’s speaking out on politics, even if it costs him financially, and why authenticity is key to cultural influence. Next, we explore the origins of Anti Fund, and how Jake and Geoff had the conviction to back Anduril before defense tech was in vogue. They also invested in OpenAI and were instrumental in rolling out Sora; learn about the strategy behind the launch and the challenges around AI slop and identity authentication. Additionally, Jake is the co-founder of Betr, and we discuss its recent partnership with Polymarket, what’s next for prediction markets, and how to build guardrails for customers. Finally, we explore Jake’s success in pioneering the creator economy and building consumer brands. In the 1960s and 70s, most kids aspired to become astronauts. Today, they want to be content creators, in part because of Jake’s influence. We conclude with Jake’s advice for young people in the AI era, and how we can persuade the next generation to love their country and embrace a builder mindset.

00:00 Episode intro

02:20 On stage with President Trump

06:00 Attention is the most valuable currency

08:00 The origins of Anti Fund and backing OpenAI, Anduril, Ramp, and others

09:10 Betr + Polymarket and the future of prediction markets

14:58 Launching Sora with OpenAI

16:14 Are you worried about AI slop?

19:10 How AI is changing culture; revival of in-person events

21:20 Who should become a creator?

24:30 Fighters as cultural icons

31:30 How to win the culture

Small Business Administrator Kelly Loeffler is playing a pivotal role in our nation on two fronts: supporting the next generation of small business owners, while exposing and combating billions of dollars in fraud. How is AI impacting small businesses? Could this be a golden age for Main Street America? What's the staggering scale of fraud she's uncovering? And how is she working with Palantir and other top talent to ensure it never happens again?

We discuss these timely topics and more with Administrator Loeffler. Growing up on a farm in rural Illinois, Kelly raised cattle and was exposed to the challenges of small business early on. She became the first in her family to graduate college and built a distinguished career in financial services at Intercontinental Exchange. In 2018, she became the founding CEO and first employee of the fintech startup, Bakkt, which brought institutional infrastructure to crypto. Kelly was appointed to serve in the U.S. Senate in 2020 and later confirmed as Administrator of the Small Business Administration in February 2025.

We begin our conversation with Kelly's entrepreneurial journey, before diving into her mission at the SBA. Her leadership comes at a pivotal juncture: a $10 trillion generational wealth transfer amid a technological revolution. As Baby Boomers retire and new AI tools emerge, Kelly believes young talent should think twice about traditional pathways and consider small business ownership instead. She lays out the administration's agenda, including expanding SBA loans for reindustrialization and bolstering the manufacturing jobs of the future. Next, we dive into her other core responsibility: exposing fraud. Learn how the SBA uncovered over $400 million of COVID-era fraud in Minnesota, $9 billion in California, and they're just getting started. She's also investigating 8(a) minority contracting — a program for disadvantaged communities hijacked by the Biden administration for race-based contracting and grift. The SBA is bringing in top talent and technology, including Palantir, to expose the fraud, revamp the programs, and protect taxpayers.

00:00 Episode intro

01:40 Farming to finance

04:46 Building Bakkt & institutional infrastructure for crypto

09:00 AI & the future of small business

13:58 How to supercharge manufacturing in America

16:15 Exposing billions in fraud

18:50 The scandal of minority contracting

20:25 Using Palantir to investigate fraud

27:15 The NGO grift scheme

29:50 Optimism for the future

As a teenager, Jared Isaacman built a billion-dollar payments company. He then pursued aviation, acquiring the world's largest private air force and creating “Top Gun as a service,” before commanding the first all-civilian spaceflight. Now, he's taking on his greatest challenge: returning NASA to greatness. Can we beat China back to the Moon? Will we reach Mars within a decade? And how close are we to making nuclear propulsion, space colonies, and other sci-fi futures a reality? We discuss all this and more with NASA Administrator Jared Isaacman. We begin with his upbringing and the origins of Shift4 Payments, which now processes more than $200 billion annually. A prolific pilot, he went on to build Draken International and acquire over 100 fighter jets for adversary training — at one point, he owned the 12th largest air force in the world! Next, we dive into his experience as a commercial astronaut and why he sought the helm of NASA. Jared outlines his bold vision to reform NASA, starting with his announcement to increase the Artemis launch cadence and ensure a return to the Moon by 2028. We discuss the challenges of building a permanent Moon presence, and why nuclear power and propulsion in space is a NASA-unique mission that will attract top talent and help the agency achieve greatness again. Finally, we explore the growing space economy and exciting sci-fi realities we will experience in the years ahead. NASA is a storied American institution; we are fortunate to have a talented leader like Jared who wants to see it not only thrive again, but reach even greater heights.

00:00 Episode intro

01:30 Top Gun as a service

07:40 Founding a billion-dollar payments company

09:30 Pioneering private spaceflight

12:00 What happened to NASA?

14:40 Getting back to the Moon by 2028

20:47 Jared announces new plans for Artemis

25:15 Future of the space economy

27:50 Nuclear power in space

29:00 Sci-fi futures becoming reality

JD Ross is one of my favorite entrepreneurs. I hired him out of college at Addepar where he quickly became Head of Product. He went on to co-found Opendoor with Keith Rabois and is now building WithCoverage — one of the fastest growing AI-first service companies. JD believes we're entering an "invention era" again. What are the new possibilities with AI? What does it mean for legacy software companies? And why is he especially excited for young talent entering the workforce today?We discuss all this and more, starting with JD's entrepreneurial journey, from founding a moving company in college (that still generates +$10M a year in sales!) to joining Addepar and later founding Opendoor. We discuss some of the breakthroughs and challenges at Opendoor, and why its meme stock moment is infusing new energy and ideas into the company. Next, we dive into WithCoverage and his mission to upend the insurance brokerage industry by combining new AI tools with human expertise — think Ramp for risk management. Initially backed by 8VC, WithCoverage already serves more than 700 enterprise customers and recently closed a $42 million round led by Sequoia and Khosla Ventures. Talented builders like JD are scaling and iterating on new products faster than anything we've seen before — learn what this means for the startup ecosystem, as well as existing SaaS companies looking over their shoulders. Finally, JD explains how AI is leveling the playing field and why he believes this is the best opportunity for new entrepreneurs in recent decades.

00:00 Episode intro

01:28 JD's entrepreneurial journey

05:18 Wins and challenges at Opendoor / meme stock moment

09:55 WithCoverage and upending insurance brokerage with AI

13:11 Mimetic frameworks for entrepreneurs

15:45 How AI is changing the way companies are built

20:21 The impact of AI on existing SaaS

26:50 How to stop AI spam and imposters

31:27 How should young people prepare for the AI era?

34:20 The new invention era / why AI levels the playing field

Advances in AI are occurring at a pace we haven’t seen before in Silicon Valley. How do we know what’s real versus hype? What does it mean for large software incumbents? And how are the top investors and builders thinking about the new possibilities? This week, we talk with two of my partners at 8VC, Alex Kolicich and Jack Moshkovich, who are on the ground working with the leading AI talent to get their perspective on what’s really happening.

Alex Kolicich is a Partner at 8VC, where he specializes in IT and Bio-IT investments. Prior, he was a Partner at Formation 8 and worked alongside Peter Thiel at Mithril Capital Management. Alex was also an engineer and early-product advisor at Clarium, Palantir, and Google. Jack Moshkovich began his career at 8VC and helps lead our investment practice alongside Alex out of San Francisco, where he focuses on enterprise software.

We begin with Silicon Valley’s most recent technological wave: smart enterprise. In 2013, we published our smart enterprise thesis, predicting the B2B software explosion that drove tremendous value creation over the past decade. Now, we’re entering the next landmark shift: the AI wave. Learn why AI is fundamentally disruptive (you can find our thesis here), and the enormous leap from data retrieval to automated decision making and from linear to non-linear problem solving. Next, we dive into the six layers of the AI investment stack, and why we are focused on level five: the application layer. We dissect the tremendous opportunities for AI-native upstarts, as well as the challenges — and upside — for smart enterprise pioneers that can reorient around AI. Finally, we discuss some of the key questions in the years ahead: When and where will we see massive productivity gains in the economy? Will LLMs become commodities, or is each frontier model sufficiently differentiated? And are we entering a bubble, or is the AI wave just getting started?

00:00 Episode intro

01:40 Smart enterprise thesis

04:00 Did enterprise software dramatically boost productivity?

08:30 Understanding the AI wave

11:45 Are LLMs becoming commodities?

17:10 OpenAI vs Anthropic vs Meta vs Grok

20:30 Frontier models vs enterprise incumbents

25:20 What did Palantir get right?

32:30 AI case studies/new possibilities

43:00 The most surprising aspect of the AI wave

46:10 Are we entering a bubble? Or just getting started?

52:40 Biggest concern with AI

58:00 Biggest reason for optimism

When Kevin Mandia’s phone rings, it’s often a Fortune 500 CEO or government leader with a billion-dollar problem. How did he become the go-to expert in cybersecurity? What new threats from AI led him back into the arena? And what is he building to protect the good guys?

Kevin began his career in the U.S. Air Force, defending the U.S. military from some of the earliest cyber attacks. He went on to found and lead Mandiant, scaling it into an industry leader which Google acquired in 2022 for over $5 billion. In 2013, he famously exposed China’s massive state-sponsored cyber espionage inside America. Kevin has also served on the National Security Telecommunications Advisory Committee (NSTAC) and the CISA Cybersecurity Advisory Committee. He recently launched Armadin to address new AI possibilities in the cyber domain.

To begin, Kevin takes us behind the scenes of the early cyber skirmishes in the 1990s, and what it was like confronting some of the first cyber incursions from Russia and China, as well as the rise of criminal cyber enterprises. In the early 2000s, Kevin noticed glaring gaps in conventional antivirus approaches and launched Mandiant. Learn how he quickly became the first person that CEOs and governments would call if they’d been hacked. After scaling Mandiant and exiting to Google, Kevin is now back in the arena building cutting-edge solutions to new AI cyber threats. He explains the dramatic increase in the productivity and sophistication of AI agents, and why it’s upending how we build cyber defenses. Find out what he’s most worried about in 2026, and what steps governments and CEOs need to take to secure their networks and infrastructure.

0:00 Episode intro

01:30 Kevin's journey into cyber; early attacks from Russia & China

05:00 The evolution of cyber espionage and crime

08:00 Founding Mandiant; why Fortune 500 CEOs call Kevin

13:30 What's it like getting hacked by Russia?

21:30 AI hackers are here; Kevin's warning

27:00 Protecting critical infrastructure; harnessing AI for cyber defense

31:30 Engineers vs AI agents

36:40 Optimism for the future

America’s capital markets are the envy of the world, but in recent years, misguided policies have driven innovation offshore and stifled the number of companies going public. SEC Chairman Paul Atkins is reversing course. What’s his plan to make IPOs great again? What will it take for America to become the crypto capital of the world? And does he think we should expand access to private markets for retail investors?

This week, we’re honored to feature a conversation with Paul Atkins, Chairman of the Securities and Exchange Commission. He also served as a commissioner at the SEC from 2002 to 2008, and worked on the staff of two SEC chairmen from 1990 to 1994. Prior to returning to the SEC in 2025, Chairman Atkins was the founder and chief executive of Patomak Global Partners, a financial services firm he founded in 2009.

We begin with Chairman Atkins’ visit to Texas, the significance of Texas’ new business courts, and the importance of innovation in our financial markets. Whereas his predecessor, Gary Gensler, took an adversarial, regulation-by-enforcement approach, he’s embracing new technologies and regulatory clarity. In this vein, the Chairman lays out his strategy for making IPOs great again. Learn why the number of public companies has dropped by nearly half since 2007, and how Chairman Atkins is reforming the rules around litigation and corporate governance to deter activists from harassing America’s builders. We also discuss President Trump’s vision for making America the crypto capital of the world, and what it looks like to provide clear guidelines that promote innovation and protect investors. Finally, we explore the steps he’s taking to enable retail investors to access private markets and other alternative assets.

0:00 Episode intro

1:35 Texas' new business courts / evolution of U.S. markets

7:20 The SEC's new approach to crypto

16:00 Making IPOs and public companies great again

25:00 Weaponization of shareholder proposals and ESG

32:10 National security concerns / China's bad actions

36:30 New rules for retail investors & private companies

44:35 Optimism for America's future

First, he digitized the entire federal retirement process, cutting it from six months to a few days. Now, he’s overhauling the U.S. government’s online presence, one website at a time. And Joe Gebbia has been in Washington, D.C. less than a year! Learn why he stepped up to serve, and the impact our best minds can have on D.C., in a conversation with our nation’s first Chief Design Officer.

As co-founder of Airbnb, Joe turned a living-room experiment into a multi-billion dollar global brand. Then, he launched Samara, helping homeowners reimagine their yards with state-of-the-art Accessory Dwelling Units. He also sits on the boards of Airbnb, Airbnb.org, and Tesla. Last February, he joined Elon Musk and the DOGE team in D.C. to overhaul retirement for federal workers, before setting his sights on modernizing the nation’s 27,000 .gov websites.

We begin with Joe’s journey to D.C., and how a former Democrat came to support President Trump and take on problems that have plagued government for decades. His first challenge: federal retirement and “the mine” — a storage facility inside a Pennsylvania mountain that houses all federal employees’ retirement paperwork. Learn how Joe worked alongside career civil servants to transform a broken, six-month slog into a digital-only process that takes mere days. Now, he’s set his sights even higher: overhauling the government’s digital portals and delivering an Airbnb-like experience, starting with the Trump Gold Card, TrumpRX.gov, and, more recently, RealFood.gov and TrumpAccounts.gov. We go inside the Oval Office and Joe reveals his conversations with Pres. Trump on the importance of aesthetics, functionality, and design. Drawing inspiration from President Nixon’s beautification initiative, he worked with Pres. Trump to launch the government’s first digital makeover. It’s inspiring to see Joe’s leadership, and if you, or someone you know, wants to join his elite team of designers and engineers, there are a few spots remaining.

00:00 Episode intro

01:15 Lifelong Democrat to Trump White House

07:50 Text from Elon / Joining DOGE

10:20 “The Mine” & fixing federal retirement

13:50 “What if we did it in a week?”

21:45 What happened to DOGE?

23:30 Becoming America’s Chief Design Officer

26:45 Inside the Oval Office with Pres. Trump

31:00 Fixing 27,000 .gov websites

34:00 Making America beautiful & functional again

Emil Michael directs the U.S. military’s research and development of advanced technologies. Previously, he led global business growth for Uber — one of the fastest moving organizations in Silicon Valley history. Can he bring that startup speed to the Department of War? What are the six critical areas of innovation he’s prioritizing? And how is he investing in these key technologies to bolster the defense industrial base?

We’re honored to go inside the Pentagon for a special episode with Emil Michael, Chief Technology Officer and Under Secretary of War for Research & Engineering. He oversees the Defense Advanced Research Projects Agency (DARPA), the Office of Strategic Capital, and other critical organizations. Prior, he helped scale multiple businesses, including D-Wave Systems, Tellme Networks, and Uber Technologies. Earlier in his career, he also served as a White House Fellow and later on the Defense Business Board.

We begin with Emil’s decision to join the Trump administration, and why he believes this is a generational opportunity to transform the culture and pace of innovation inside the Pentagon. Learn how he rolled out GenAI.mil (Google’s Gemini) to the entire force — roughly three million people — in a matter of months. Next, we dive into his decision to pare down the all-important Critical Technologies List, which drives the Pentagon’s R&D spending, from 14 areas to six. Then, we discuss the Department’s shift to a “commercial first” approach and what that means for the defense industrial base. Finally, we cover his priorities for the Office of Strategic Capital, plus how he’s thinking about talent and encouraging our best and brightest to step up and serve the country.

[NOTE: This episode was recorded prior to the United States capture and extradition of Nicolas Maduro]

00:00 Episode intro

01:40 Time to disrupt the Pentagon

04:20 What did you learn from your first threat briefing?

06:30 Can you bring Uber speed to Dept of War?

08:45 Redefining the Critical Technologies List

13:30 Hypersonics and Golden Dome

18:00 Commercial first approach and changing the culture

23:00 How to recruit the best talent into government

28:45 Optimism for the future

Chris Sununu is an MIT-educated engineer who won four terms as governor of New Hampshire. Now, he's leading the charge for a balanced budget amendment to the U.S. Constitution. What are his key lessons in political leadership? Why is he telling Harvard students to be wary of AI? And are real fiscal constraints on Washington, D.C. close to becoming reality? The former governor of New Hampshire, Chris Sununu is now the President and CEO of Airlines for America and National Chair and Board Member of Balanced Budget Now, which has secured 27 of 34 states required to call a convention for a constitutional amendment. They're on the cusp of landing several more states and closing in on a convention of states, which he hopes will pressure Congress to step in and pass an amendment through the traditional process. This is a generational opportunity to upend how D.C. operates; my friends and I are supporting their work and hope you will too. We begin with Gov. Sununu's path to politics, and how he succeeded in lowering taxes, expanding school choice, and combating an opioid epidemic with a sharply divided state legislature. Next, we talk about the right political strategies for cutting wasteful spending, lessons from DOGE, and what he would do differently to make DOGE an enduring movement. Then, we dive into his efforts to get a balanced budget amendment across the finish line. Learn why nearly all states (even California, albeit it plays games with pension math) have a balanced budget requirement and what it will take to get D.C. on board. Finally, we discuss the AI revolution and why he's bullish on plumbers and welders over students pursuing "elite" white-collar professions. As Gov. Sununu suggests, more tradespeople and fewer lawyers might not be a bad thing for our society.

00:00 Episode intro

01:34 MIT engineer turned governor

06:35 Fighting special interests

12:50 Lessons from DOGE

16:37 Forcing a Balanced Budget Amendment

26:00 AI and welders vs lawyers

29:00 Making a Balanced Budget Amendment a reality

This week, OPM Director Scott Kupor launched the U.S. Tech Force to recruit an elite cohort of engineering talent into the federal government. What will it take to make public service cool again? What can he do to ensure the government hires, fires, and promotes based on performance? And what is he doing on merit and aptitude tests that could be one of the most important reforms of Trump’s entire presidency?

We’re joined by Scott for a timely conversation about Tech Force, his role as Director of the Office of Personnel Management, and key civil service reforms. Previously, Scott built one of the leading venture capital firms as Managing Partner of Andreessen Horowitz. He also penned “Secrets of Sand Hill Road,” a definitive guide for raising capital and navigating the startup world.

We begin our conversation with the importance of Tech Force — a two-year program designed to surge top programmers and designers into Washington, D.C. and create an enduring talent pipeline between the public and private sectors. Next, we explore Scott’s career in Silicon Valley, how he helped build a16z from the ground up, and the lessons he’s bringing to the White House. Then, we dive into his ambitious OPM agenda, starting with addressing rampant performance inflation, improving incentives for top performers, and removing artificial barriers, like years of service or college degrees, so we can get the best talent into the right jobs. Finally, we revisit the Pendleton Act of 1883 and how to bring merit back into civil service. Learn how Scott overturned a consent decree that will allow him to bring aptitude tests back into federal hiring — this could be one of the most consequential achievements of the Trump entire presidency!

For decades, Philip Howard has been sounding the alarm: our government is broken, and tinkering around the edges won’t work. We need a new operating system. How did it break? What do both parties get wrong? And what will it take to revive the American spirit?

Philip is the Founder of the Common Good, best-selling author, and one of the leaders in government and legal reform. His book “The Death of Common Sense” became a powerful force for bipartisan reforms in the 1990s between President Bill Clinton and Congressional Republicans. I’ve followed his work for many years, and his newest book, “Saving Can-Do,” offers important frameworks for injecting accountability and human judgement back into governance.

We begin with the genesis of the red tape state, and why Philip believes the collective guilt of the 1960s led to well-intentioned but ill-designed policies that broke the government. He explains how law began to supplant human judgment, politicians stopped making hard decisions, and governance was outsourced to an instruction manual run by the professional class. Case in point: there are now 150 million words of binding federal rules, most added post-1970. The U.S Constitution, by contrast, is 7,500 words. Next, we dive into his new book, beginning with what makes the American “can-do” attitude unique. Then, he offers solutions for reinstating human authority into our institutions. And finally, a new framework for enabling America to build again. Philip makes the compelling case that what our republic needs most of all is a return to accountability over compliance, amateurs over professionals, and liberty over safetyism.

Michael Kratsios is the man of the hour, charged by President Trump to usher in the golden age of AI and American innovation. How is the White House approaching this revolution in technology? What does AI mean for the American worker? How do we stay ahead of China — and also persuade other nations to adopt U.S. tech over Chinese?

We hosted this conversation at the 2025 Cicero Institute Courage Awards, where we recognize bold policymakers on both sides of the aisle for standing up to special interests and fighting for liberty. Amid the regulatory battle over AI, we were honored to feature Michael, who currently serves as Director of the White House Office of Science and Technology Policy and a Senior Advisor to President Trump. In the first Trump term, he was the nation’s Chief Technology Officer and later acting Under Secretary of War for Research and Engineering. He started his career working for Peter Thiel, first at Clarium Capital and later Thiel Capital.

We began our conversation with Michael’s journey to the White House, and his role leading the White House’s science and technology policy agenda. He outlined three key areas to winning the AI race: the right regulatory frameworks, the necessary infrastructure, and international engagement. How do we not only stay ahead of China but also persuade other nations to adopt our AI stack? Michael lays out the strategy. He also makes the case for a federal AI standard and explains why a patchwork of laws stifles innovation, hamstringing the upstarts and entrenching the incumbents. Finally, he lays out what AI will mean for the American worker, and as the man in charge of overseeing AI, quantum, space, and more, he reveals what keeps him up at night. We have a generational opportunity with AI to bring down the cost of living and lift up millions of lives; we’re grateful to have leaders like Michael at the helm.

Do great men alter the course of history, or is everything more bottom-up than we realize? Or both? We credit Thomas Edison for the light bulb, but what about the 20 competitors that were right on his heels? What can the evolution of language, biology, and complex systems teach us about entrepreneurship, investing, and the conditions for human progress?

Matt Ridley’s writings have influenced how builders, investors, and policymakers understand the world, myself included. A former member of the House of Lords, The Viscount Ridley is a prolific columnist and author whose works range from The Rational Optimist and The Evolution of Everything to The Red Queen: Sex and the Evolution of Human Nature. An intellectual army of one, Matt has taught millions that the free exchange of ideas produces the next great innovation, not top-down policies, no matter how well-intentioned. He’s also been a rare voice of courage in the United Kingdom, fighting against free speech crackdowns, insane energy policies, and corrosive regulations.

We begin with Matt’s dire warning about the UK and its rapid descent into economic stagnation and cultural turmoil. Is this great civilization doomed? Learn where Matt sees glimmers of hope, and get a preview of his next book on the future of the West. Then, we dive into lessons from Matt’s great works, from the impact of mating choices in birds and other fascinating scientific research to the evolution of ideas and conditions for innovation. If Steve Jobs didn’t exist, would there have been a pioneer of the personal computer? Matt says yes, and you’ll hear his compelling case. His frameworks have helped shape how some of us think about technological revolutions and strategy. We also cover the AI race with China, including Matt’s perspective on industrial policy and why he believes China is not as strong as many think. Finally, we spar over religion -- Matt’s a longtime atheist -- and whether America can survive as a post-religious society.

00:00 Episode intro

01:45 Is the UK doomed?

11:40 Matt’s next book and why he’s touring the US

16:29 The extraordinary implications of Charles Darwin’s strangest idea

22:00 Industrial policy & tech race with China

27:45 Evolution of everything vs Great Man Theory

35:20 Can a post-religious America survive?

39:20 Reasons for optimism

In 2023, Memphis earned the distinction of the nation’s most violent and dangerous city. Senator Bill Hagerty had seen enough. Together with President Trump, he helped orchestrate the most important public safety initiative you probably haven’t heard of — until now. Thousands of criminals arrested, dozens of children rescued, and they even figured out how to work around a Soros-backed District Attorney. This is just one of many fronts Sen. Hagerty is leading on since joining the U.S. Senate.

A businessman by background, Sen. Hagerty began his career at Boston Consulting Group, growing the business in key markets like Japan, before launching his own private equity firm. In 2011, he stepped up to serve, bringing billions of dollars of investment into Tennessee as the state’s Commissioner of Economic and Community Development. In 2017, he was appointed U.S. Ambassador to Japan and played a critical role in bolstering our alliance and countering China, before being elected to the U.S. Senate in 2020.

We begin with the Senator’s diagnosis of the government shutdown and whether Republicans should end the filibuster and break the gridlock. Then, we dive into the Memphis Task Force and the Senator’s groundbreaking work to partner with the White House and a Democratic mayor to save a great American city. More than a dozen federal agencies have quietly surged into Memphis; they’ve arrested thousands of criminals, and better yet, are doing it in a way that prevents the Soros-backed DA from releasing them back on the streets. Next, we discuss the Senator’s business career and path to ambassador. One of his great successes: accelerating the delivery of U.S. weapons to Japan — a process that used to take five to seven years! Finally, we cover his leadership on stablecoin legislation — the GENIUS Act — and how he’s approaching regulatory frameworks for crypto, AI, and other emerging technologies. Sen. Hagerty has quickly become a key leader in the U.S. Senate, and you’ll see why.

00:00 Episode intro

01:20 Government shutdown; end the filibuster?

09:05 Memphis Safe Task Force

14:47 xAI in Memphis & new opportunities

20:10 Boston Consulting Group to Ambassador to Japan

25:45 Accelerating Foreign Military Sales to allies

28:46 USAID & how to reform foreign aid

31:14 GENIUS Act; leading on stablecoin legislation and crypto

33:37 How to approach AI regulation

38:55 Optimism for the future

Joe Liemandt is a legend in the technology world. Starting in the 1990s, he built a multi-billion dollar software empire, before quietly stepping out of the public spotlight for 20 years. Now, he’s back to reveal his next breakthrough: new schools that can 10X learning in two hours a day with AI and the right incentives. What were the discoveries that led him here? Why is he confident he can save American education? And how is he planning to get this to a billion kids worldwide?

Join us for a special episode with one of the great entrepreneurs of the digital era. In 1989, Joe Liemandt dropped out of Stanford to found Trilogy, which he describes as “the first AI product to sell a billion dollars.” He also pioneered Trilogy University — the grueling boot camp that Google and Facebook later copied — and famously outcompeted Microsoft for talent, drawing thousands of top engineers to Austin. On top of that, he added a software acquisition firm, ESW Capital, and scaled it to massive success. Today, he’s the principal of Alpha School, a revolutionary new education model that already has its students performing in the top one percent nationwide.

We begin with the origins of Trilogy, from building “configurators” and the earliest AI systems to creating its iconic, ultra-competitive culture. Then, we break down the acquisition strategy that turned ESW Capital into a massive success, before turning to Joe’s new mission: saving American education. Before joining Alpha, he went deep into the science of learning, notably backing Harvard economist Roland Fryer’s inner city research. Fryer experimented with paying teachers, parents, and students for good results — the findings shocked the education world and became foundational for much of Joe’s work. Learn how the right incentives combined with the best in AI have Alpha’s third and fourth-graders outperforming the average high-school graduate. Plus, we explore Joe’s ambitious vision for the future and how school choice can help get this model into classrooms nationwide. The U.S. has spent trillions on K-12 with little or nothing to show; meanwhile, China and other advanced economies have raced far ahead in education performance. If Joe succeeds, he will fundamentally transform education, and the future of our republic, and that’s something to get excited about.

00:00 Episode intro

01:53 Stanford dropout/origins of Trilogy

06:05 Trilogy University

09:08 Roland Fryer & paying kids for good grades

12:07 Why Joe is betting $1B on education

16:55 Kids must love school more than vacation

24:45 “The most controversial thing I’ll say today”

31:56 Why Alpha pays kids for top scores

36:52 Will this work for low-income kids?

42:57 Battle over AI & school choice

46:58 How should we teach history?

51:20 Joe’s grand vision for the future

Universities called for “free speech” after Charlie Kirk’s murder — UATX President Carlos Carvalho says they’re missing the point entirely. Is more speech really the answer? Should universities stay neutral and out of politics? Or do they have a higher duty, especially now?We discuss these questions and more with the new President of the University of Austin: Carlos Carvalho. Born and raised in Brazil, he watched his father — a Navy officer — help fight back against a communist takeover attempt in the 1960s. Carlos came to America and earned his Ph.D. in statistics from Duke University. He taught at the University of Chicago before spending 15 years as a professor at the McCombs School of Business at the University of Texas, where he also founded the Salem Center for Policy to promote open debate and inquiry on campus. Carlos is an academic, a builder, and believes deeply in the promise of America; he’s uniquely talented and suited to lead the most ambitious new university project in more than a century.We begin our conversation with the aftermath of Charlie Kirk’s murder, and the debate over the role of universities. Learn why Carlos believes “free speech is not enough” and why academia has a duty to stand on, and defend, America’s founding principles, while drawing an important distinction between politics and partisanship. Next, we discuss his upbringing and lessons from fighting the communists in Brazil, including his father’s sage advice: “Learn math, learn languages, and always watch out for the communists!” Finally, we hone in on what sets UATX apart and what it looks like to train a new elite equipped with the best of the old world and the new, plus the courage and entrepreneurial energy needed to save our civilization.

00:00 Episode intro

01:50 “Free speech isn’t enough”

06:42 Is “Institutional neutrality” the right approach?

13:50 Fighting the communists in Brazil

21:06 How the far-left captured business schools

26:45 What sets UATX apart?

32:33 Old world meets new; bringing entrepreneurship to higher ed

40:05 Why is UATX tuition free?

44:00 Navy SEAL formula for higher ed

America’s cities are dangerous and broken, and for too long, governors stood by as city officials failed their citizens. But Oklahoma Governor Kevin Stitt has stepped up to prove that we don’t have to tolerate incompetence or lawlessness. What bold actions did he take? Why were the results shocking? And how can his leadership be a model for other governors?

We’re joined this week by businessman-turned-governor Kevin Stitt. In 2000, he launched Gateway Mortgage with just $1,000 and a computer; when he departed, it was one of the largest privately held mortgage companies in the country. He ran for governor having never sought public office before, and since taking the helm, he’s run the state like a business: slashing regulations and restoring fiscal responsibility. During his tenure, Oklahoma has become one of the fastest growing states in the country.

We begin our conversation with Operation Safe — the governor’s bold initiative to clean up homeless encampments and criminal activity in Tulsa after city officials let the problems fester for years. Learn about the extensive theft, drugs, and crime they exposed, while cleaning up nearly 2 million pounds of trash! More importantly, the governor restored safety and order for families and businesses, while helping the homeless seek real treatment and get off the streets. Gov. Stitt explains how President Trump’s executive order on crime and disorder paved the way for more state leaders to take action, and now that he’s proven what’s possible, city officials in Tulsa and elsewhere are on notice that their failures will no longer be tolerated.

Next, we discuss innovative solutions that can empower citizens to hold their local officials accountable. Imagine an app that gives individuals or businesses a tax rebate if they report illegal activity and the city fails to address it — that’s what the Cicero Institute is working toward, and Gov. Stitt loves the idea! We also discuss how states can use their power to hold NGOs accountable and ensure taxpayer dollars are solving homelessness, not perpetuating it. Finally, we discuss Iryna Zarutska’s murder and the strong, but necessary, steps we need to take to deal with violent, repeat offenders. Gov. Stitt’s leadership gives us real hope that other state leaders, especially in red states, will step up, enforce the law, and prioritize the safety of the American people.

00:00 Episode intro

01:44 Operation Safe - stepping up to save Tulsa

05:48 Needles, theft & 2 million pounds of trash

10:15 Corrupt NGOs & weak politicians

13:40 Citizen apps to hold govt accountable

17:55 Soros influence in our cities

21:20 Iryna Zarutska & violent repeat offenders

Zachary Levi is best known for starring in the popular TV series Chuck and hit movies like Shazam!, while millions of children, my daughters included, know him as Flynn Rider in Disney’s Tangled. But recently, he did something even more noteworthy in his industry: he endorsed Robert Kennedy Jr. and later President Trump, while openly sharing his Christian faith. Why did he put his career at risk? What’s the story behind his $100 million studio project in Texas? And will AI open new doors for actors and writers, or will it supplant human ingenuity and, ultimately, millions of jobs?

Join us for a fascinating look behind the Hollywood curtain with a counter-cultural leader, and a spirited debate over technology’s impact on the human condition.

We begin the conversation with Zachary’s courage to speak out ahead of the 2024 elections, and the role of leaders to put principles ahead of self-preservation. Next, we reflect on the legacy of Charlie Kirk, and his ability to engage his opponents with both truth and compassion. In contrast, not a single actor had the temerity to invoke Charlie at the recent Emmy Awards, and Zachary takes us behind the curtain to explain how a quintessential American institution like Hollywood capitulated to woke ideologues. And he’s not just speaking out, he’s also building an alternative: learn about Wyldwood — a $100 million studio project outside Austin aimed at reviving great art and providing a new kind of community for artists. Finally, Zachary discusses AI’s impact on Hollywood, and why he worries it will eventually consume the creative arts. He and I see the AI landscape very differently — his take is more pessimistic, mine more optimistic — but we have a fun debate, and ultimately agree that it’s our job as leaders to build toward solutions that lift up humans and preserve the values that make our civilization great.

00:00 Episode intro

01:40 Speaking out in Hollywood

07:10 Debating politics with truth & compassion

15:23 Charlie Kirk & Hollywood’s demise

20:10 Building a new type of Hollywood

25:51 Technology vs humanity - are we better off now than 1950s?

33:25 The merits of capitalism: Jeff Bezos vs Elon Musk

41:41 Debating AI & technological progress

50:05 Will AI create or replace millions of jobs?

56:45 The role of leaders / optimism for the future

Max Meyer is the Editor and Publisher of Arena — an American technology magazine that is pro-America and pro-technology! How did legacy media become cynically motivated and ideologically captured? Will "AI slop" only make things worse? And, most importantly, what is the antidote?

We discuss these issues and more with the entrepreneur and writer behind one of America's most exciting new media outlets. Before launching Arena, Max studied geophysics at Stanford University and served as editor of the Stanford Review, where he drew national attention for his investigative reporting, including exposing former San Francisco District Attorney Chesa Boudin's ties to Venezuelan dictator Hugo Chavez.

We start with the fall of once-great magazines, like Scientific American, and why Max is going all-in on high-quality, shoe-leather journalism that stands the test of time. Next, we discuss the evolution of journalism from a working-class to elite profession, the implications therein, and why the attack pieces and hit jobs are starting to backfire. We dive into some of Arena's recent work, from the first-ever profile of Anduril CEO Brian Schimpf to covering breakout industries and entrepreneurs routinely overlooked by mainstream newsrooms. Then, we talk about Max's time as editor of the Stanford Review, and carrying on the tradition started by Peter Thiel and other editors, myself included, of challenging campus groupthink and defending Western values. Finally, we address the coming avalanche of "AI slop" and why Max is betting that trustworthy, premium-packaged content will stand apart from the noise.

Learn why top builders and leaders are reading Arena -- and subscribe here to get the magazines. You can use code “JOE30” at checkout to get a 30% discount off your first year subscription!

NOTE: This episode was recorded before the murder of my friend Charlie Kirk.

00:00 Episode intro

01:38 What is Arena?

06:00 Why is journalism broken?

09:50 How Wired, TechCrunch, etc. went off the rails

15:07 Why Max is betting on premium, high-end media

19:00 Exposing Marxists as Editor of the Stanford Review

21:20 Should we be worried about AI slop?

25:58 What's next for Arena?

Harish Abbott is a serial entrepreneur at the forefront of the logistics revolution. He sold his last company to Shopify in 2022 for over $2 billion, and now he's back in the arena again. What are the new possibilities with AI? How will it impact workers? And what's the business opportunity he sees that no one else does?

Harish is the co-founder and CEO of Augment, a new platform building AI teammates for logistics operations. Its first product, Augie, already boasts $25 billion in freight under management. Previously, Harish co-founded Deliverr, an e-commerce fulfilment platform (acquired by Shopify) that provided one and two-day shipping to smaller merchants. He started his career at Amazon Fulfillment, where he helped build industry-leading technologies and transform online shopping as we know it.

We begin with Harish's background, why he came to America to build, and what makes our innovation economy unique. We discuss his most important lessons learned at Amazon, from Jeff Bezos obsessing over customer satisfaction to the company's unique writing culture. Next, Harish explains the origins of Deliverr, how he built a delivery network for the non-Amazon and Walmart world, and lessons learned from selling to Shopify. Then, we dive into the inflection point that sparked Augment, and how advances in LLMs can now manage vast asynchronous workflows and transform how information is traded. Learn why Harish sees a trillion dollar global opportunity to reduce waste in logistics, how he plans to capitalize on it, and why he believes AI can elevate brokers and shippers to higher-order thinking — a win for humans and the economy.

00:00 Episode intro

01:38 Merit matters & why build in the U.S.

05:00 Lessons from Amazon & Jeff Bezos

10:29 Deliverr & bringing next-day shipping to non-Amazon world

17:15 AI & the next logistics revolution

23:58 Meet Augie - the AI teammate for logistics

28:35 The trillion dollar opportunity

32:05 The AI talent battle

38:56 Reasons for optimism

Sen. Eric Schmitt is a fighter for our country — and knows how to win. In November 2022, as Missouri Attorney General, he sued the Biden administration for colluding with Big Tech to impose mass censorship on the American people. His actions exposed the most chilling government intrusion of our time, and launched a groundswell of opposition, culminating in Elon Musk buying Twitter. What was his strategy? How can it combat further government overreach? And how can we outsmart the far-left when it comes to redistricting, stacking the Supreme Court, and other battlegrounds?

We discuss this and more with Senator Schmitt, author of the new book: "The Last Line of Defense: How to Beat the Left in Court." After serving as Missouri Attorney General, he was elected U.S. Senator, and currently serves on the all-important Judiciary and Armed Services committees.

We begin with Sen. Schmitt's working class upbringing and his inspiration for running for office. Then, he reveals how he architected Missouri v Biden to expose the unholy alliance between the Biden White House and Big Tech to censor contrarian views (myself included, as it was later revealed in the Twitter Files). He also details his lawsuit against communist China for covering up COVID, winning $24 billion in damages for the people of Missouri. Next, we jump to his priorities in the Senate, and why he's pushing Republicans to get more aggressive, whether it's protecting the Supreme Court from court packing, defending redistricting, or securing an increase in FBI agents to crackdown on violent crime in St. Louis. Finally, we get his take on AI, and why he's wary of opportunities for censorship, but also bullish on robotics and automation bringing manufacturing back to the heartland.

00:00 Episode intro

05:00 Exposing Biden's mass censorship

09:30 How the FBI covered for Hunter Biden

15:18 Redistricting, packing SCOTUS, and next battlegrounds

21:40 Suing the CCP -- and winning

24:45 What have you learned in the Senate?

28:30 AI & Manufacturing renaissance

This week, we're honored to be joined by Venezuela's "Iron Lady" — Maria Corina Machado. She's been physically assaulted, forced into hiding, and separated from her children, but that hasn't stopped her from standing up to dictators and fighting for liberty. Right now, she believes the end of Nicolas Maduro's regime is closer than it's ever been, and a bright new future for Venezuela — and the entire region — is in sight.

In the early 2000s, Maria set aside her business and career aspirations to lead a recall against Hugo Chavez, quickly earning a reputation as his "most detested adversary." She went on to serve as an elected member of the National Assembly of Venezuela from 2011 to 2014, becoming a key leader in the widespread 2014 protests against Maduro. Leading up to the 2024 presidential election, she won her party's primary elections, but was disqualified and forced out by Maduro and his cronies. Still, her opposition party went on to win overwhelmingly, and Maduro has since rejected the results and refused to relinquish power.

We begin with the tragic downfall of Venezuela, from the wealthiest country in South America to poorer than Haiti. Learn how socialism brought one of the world's most energy rich countries to its knees, and instead became the criminal hub of Latin America, flooding the U.S. with drugs and narco terrorism while providing safe harbor to Russia, Iran, Hezbollah, and other enemies. President Trump has taken strong actions in recent months, from placing a $50 million bounty on Maduro to designating cartels as terrorist organizations and directing the U.S. military to go after them — we get Maria's take on the President's policies and what else she hopes to see from our leaders in Washington. Many Americans are rightfully wary of foreign interventions; Maria explains why she doesn't see it as regime change but rather dismantling an international criminal enterprise. Finally, we cover Maria's personal journey and sacrifice, why she continues to fight even with threats against her life, and her ultimate vision for a free and prosperous Venezuela that becomes an energy powerhouse for the Americas.

00:00 Episode intro

02:30 How Venezuela became a criminal hub

09:45 What's the right US policy? Regime change?

16:24 Parallels between Chavez & the far-left in the U.S.

22:17 Maria's personal story & sacrifice

26:36 Maria’s vision for a free Venezuela

Reusable rockets, new economics, and surging investment are quickly making space one of the most promising areas for growth and innovation. Like other areas of defense, we're in a transition from billion-dollar, exquisite satellites to the proliferation of attritable platforms. What are the new markets and opportunities this creates? How will the Golden Dome impact the space race and competition with China? And what exciting possibilities, like asteroid mining, are in our future?

This week we talk all things space with Ian Cinnamon, co-founder and CEO of Apex Space, a satellite platform company. A graduate of MIT and Stanford Business School, Ian first launched a startup incubator, Superlabs, with Mark Pincus before founding Synapse, a computer vision company later acquired by Palantir. There, Ian worked on key initiatives like Project Maven before leaving to build Apex, and bring speed and efficiency to satellite platform manufacturing.

We begin with Ian's entrepreneurial journey and how his research at MIT informed the creation of Synapse. A top talent at Palantir, he reveals what it was like working on Project Maven — and the protesters that inspired him — plus the "light bulb moment" that led him to launch Apex. Next, we dive into the space boom and how SpaceX upended the entire way we think about, and build, for space. Learn about the unique challenges of engineering for space, why Apex is moving toward full vertical integration, and how it plans to meet skyrocketing demand for more launches. We also discuss President Trump's ambitious Golden Dome project, new possibilities for space-based interceptors, and China's plans to overtake U.S. supremacy in space. Finally, we conclude with Ian's most exciting innovations beyond Earth, and why asteroid mining isn't as far-fetched as you might think.

00:00 Episode intro

02:09 MIT, cognitive science & building Synapse

06:17 Palantir, Project Maven, and protestors

8:53 Ian's "light bulb moment" for building Apex

15:23 The space boom & new possibilities

21:30 Engineering for space and lessons from SpaceX

27:50 China's ambitious space plans

30:19 Golden Dome & space-based interceptors

36:00 Understanding orbit altitudes for satellites

40:00 Is China trying to steal your IP?

44:13 Asteroid mining and new possibilities beyond Earth

This week we're talking dental billing! Why? Because large parts of the $5 trillion US services economy, like medical billing, are inefficient and dysfunctional, which holds back growth and increases costs for Americans. How is AI transforming these broken sectors? What's possible now that wasn't just a few years ago? And if AI can revolutionize dental billing, what does that mean for productivity at large?We dive into the AI services wave with DayDream's Shreyas Parab, co-founder & CEO, and Anton Lin, co-founder & CTO. DayDream is applying AI to transform revenue cycle management (RCM) for dentists, and helping them recover the money they are owed faster and more effectively. Chasing down errant claims can take humans years; DayDream is doing it in weeks with AI agents!We begin with the broken state of medical billing -- thousands of rules per company, little written down, and knowledge passed down person-to-person like an ancient religion. Shreyas and Anton explain how LLMs can reason through unstructured processes in ways that previous business logic couldn't. Next, we discuss the lost revenue from missing claims (nearly 20% of all claims!), and how AI agents are becoming so effective that humans can't tell the difference. This raises the obvious question: will agentic solutions result in mass layoffs? Shreyas and Anton say the opposite is true -- AI is enabling billers to operate at higher levels and focus on expanding the business instead of waiting on hold with insurance companies. If top talent plus AI can revamp Byzantine systems like dental billing, there's a tremendous opportunity to reform the entire services economy. This means economic growth, and disinflation that benefits everyone.

00:00 Episode intro

01:35 What’s so important about dental billing?

07:50 Will AI destroy dental billing jobs?

9:50 AI agents are becoming indistinguishable from humans

17:45 Private equity rolling up dental

24:56 Understanding the AI services model

Reid Hoffman is a longtime leader in Silicon Valley and vocal AI optimist; he's also a major Democratic Party donor. What happens when AI runs headfirst into labor unions and key Democratic interests? Why is Reid calling out his party for alienating Silicon Valley? And can a divided country unite around a positive AI future?Join us for an important conversation at the intersection of technology, politics, and policy. An early member of the PayPal mafia, Reid went on to co-found LinkedIn and became a prolific investor as Partner at Greylock and Chairman of Village Global. He's also a Microsoft board member, popular podcast host, and author, most recently of “Superagency: What Could Possibly Go Right with Our AI Future."We begin with lessons from PayPal and the unique culture that united an iconic cast of characters. Then we dive into Reid's latest book "Superagency" and his case for AI optimism. Reid's enthusiasm collides with Democratic Party strongholds, so I challenged him on how he reconciles these conflicts and whether AI can win out over special interests. Case in point: autonomous trucks. Reid's a key investor in Aurora, which is based in California but launching its first trucks in Texas. Red states are increasingly the laboratories of innovation and growth, which Reid acknowledges and admits is a major challenge that he raises with blue-state governors. Next, we discuss the six levels of the AI investment stack and where Reid is focused, plus his advice for startups amid the scale compute race. We also explore the future of social media and why Reid is creating his own AI clone. Finally, we revisit Silicon Valley's pivot to the right and why Reid is calling out the Democratic Party for prioritizing DEI and identity politics over merit and innovation.We didn't focus the episode on our obvious political disagreements, but rather the areas where we agree: Reid is an optimist and shares that trait with a lot of my PayPal mafia friends even if he doesn't share our worldview. If we're going to accelerate our country into an optimistic AI future and lift up millions of lives -- which I hope to help achieve! -- then we need to have conversations across the aisle aimed at advancing pro-growth, freedom-oriented policies.

00:00 Episode intro

02:00 What made the PayPal Mafia unique?

06:38 The best arguments for AI optimism

10:59 Reid's optimism vs Democratic Party strongholds

14:15 Inflection AI & lessons for AI startups

19:53 Why Reid made an AI clone

22:54 AI tutors vs teachers unions

26:59 How Democrats alienated Silicon Valley

32:56 Pushing back on antisemitism

36:38 Advice for entrepreneurs in the AI age

We're joined this week by a key architect of President Trump's budget and regulatory agenda: Office of Management and Budget (OMB) Director Russ Vought. How much does the Big Beautiful Bill actually rein in spending? Will DOGE cuts become permanent? What is the Impoundment Act of 1974 and why will this be a crucial fight in the coming months?

We discuss these timely policy issues and more with the "radical constitutionalist" at the helm of Trump's OMB in his first and second terms. From ending critical race theory at all federal agencies to spearheading historic deregulatory actions and making bureaucrats accountable again, Director Vought has been instrumental in some of the most consequential policy battles in Washington D.C.

In this episode, we begin with his efforts to reform the administrative state, and why the next major battle will center on the 1974 Impoundment Act and the President's authority over appropriated funds. Learn why Democrats' retaliation against President Nixon tipped the balance of power toward unelected bureaucrats, and how Director Vought seeks to restore proper constitutional balance. Next, we dive into the Big Beautiful Bill and why he believes it's the most consequential mandatory spending reform to ever pass into law. And when it comes to discretionary spending, he reiterates his commitment to make the DOGE cuts permanent and outlines possible strategies, whether through impoundment or a rescissions packages via Congress. Finally, we talk about his role in winding down one of the most egregious examples of government overreach — the Consumer Financial Protection Bureau — and why Americans should be optimistic that, for the first time in decades, real fiscal and regulatory restraint is starting to take hold in Washington D.C.

00:00 Episode intro

01:43 Role of OMB Director & lessons from Trump’s first term

04:37 The looming battle over impoundment & Presidential power

07:25 Can we return merit & tests to government?

12:12 Big Beautiful Bill - how much does it actually cut?

19:41 What's the future of DOGE?

22:03 Dismantling the Consumer Financial Protection Bureau

25:10 Can Washington DC actually be reined in?

Construction is a $2 trillion U.S. industry ($13 trillion globally) that impacts nearly every aspect of our lives. Yet, building has become too expensive and too slow to meet rising demand and aging infrastructure. What if we can apply breakthroughs from self-driving to construction? And what if we can use AI to operate heavy machinery autonomously 24/7?

This week, we bring the AI revolution into the physical world with Boris Sofman, co-founder and CEO of Bedrock Robotics. Founded by three former Waymo leaders, Bedrock emerged from stealth this week to bring autonomy to the construction industry. Boris earned his PhD in Robotics at Carnegie Mellon before founding Anki — a consumer robotics company that produced some of the world's most popular toy robots. After Anki was acquired by Google, Boris became Director of Engineering and Head of Trucking at Waymo, where he was instrumental in Waymo's successful deployment into major cities across the country.

We begin with his journey from the Soviet Union to the U.S. as a young boy, and how Boris fell in love with engineering. We discuss the consumer robotics wave and his time building Anki, before jumping into the race for self-driving cars. Get a rare look behind the scenes at Waymo and the extreme engineering challenges Boris and his team had to solve. Next, he reveals the recent developments that unlocked autonomy for heavy construction and the immense potential to transform the cost, quality, and speed of building in the U.S. Already, unions and special interests are lining up against these technologies; learn why Boris believes autonomy will unlock a wave of pent-up demand and create even more jobs and opportunities for humans. Bedrock is one the companies and teams I'm most bullish on, and you'll see why!

00:00 Episode intro

02:16 Soviet Union to robotics leader

06:57 Conquering self-driving at Waymo

14:38 Why leave Waymo to start Bedrock?

19:10 How to make heavy machinery autonomous

24:06 AI breakthroughs that make this possible

31:06 Why autonomy will create jobs, not destroy them

37:44 The impact of the robotics revolution