Sourcery
- Episódios
- 221
- Publicação
- várias vezes por semana
- Último episódio
- 13 nov 2026
Sobre o podcast
Interviews with the top Investors, CEOs, & Founders
Episódios 221
SpaceX, Palantir, Anduril & Onodrim | The Return of Conglomerates
SpaceX is now a $2 trillion company, but Christian Garrett believes its business is just getting started.Christian is a Partner at 137 Ventures, an early investor in SpaceX for 16 years, and Co-Founder of …
Notas do episódio
SpaceX is now a $2 trillion company, but Christian Garrett believes its business is just getting started.
Christian is a Partner at 137 Ventures, an early investor in SpaceX for 16 years, and Co-Founder of Onodrim Industries, the European defense and industrial platform that just raised a $300 million Series A at a $1.3 billion valuation.
In this episode of Sourcery, we discuss SpaceX's evolution from launch provider into an AI hyperscaler, the economics of Starship and orbital data centers, and why Christian believes the next generation of technology giants will resemble vertically integrated conglomerates.
We also break down 137 Ventures' investments across SpaceX, Anduril, Ramp, Cognition, Hex, Hadrian, Applied Intuition, and General Matter, including how the firm evaluates growth, valuations, and long-term compounding.
Christian then shares the story behind co-founding Onodrim, which is acquiring and scaling Europe's aerospace, defense, and industrial manufacturers through permanent capital, technology, and operational expertise.
Christian Garrett: https://x.com/CGarrett_15
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/4J7tjyVCrqA
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Christian Garrett, Partner at 137 Ventures
(00:50) How SpaceX hit $2 trillion
(04:51) Is SpaceX now an AI company?
(07:52) When will compute move to space?
(12:40) The debt behind the AI build-out
(16:14) Why 137 backed Cognition and Hex
(19:29) SpaceX Compounded 40% for 20 years
(22:50) Is everyone overpaying for winners?
(27:25) Anduril and the return of the conglomerate
(33:24) Why Christian co-founded Onodrim
(36:51) 4,000 drone companies in Europe
(38:59) Hiring from Palantir to Rheinmetall
(42:44) From Investor to Co-Founder
(46:49) The annoying things VCs do
(53:39) Why tech isn't zero-sum
(55:42) The political weaponization of tech
Mercor Raises $750M at $20B Valuation | CEO Brendan Foody
Mercor has raised $750 million in a Series D at a $20 billion valuation, with participation from Nvidia, Benchmark, General Catalyst, Funds managed by affiliates of Apollo, XTX Ventures, Salesforce, and …
Notas do episódio
Mercor has raised $750 million in a Series D at a $20 billion valuation, with participation from Nvidia, Benchmark, General Catalyst, Funds managed by affiliates of Apollo, XTX Ventures, Salesforce, and others.
Co-Founder & CEO Brendan Foody joins Sourcery to discuss how Mercor has grown more than 5X on a mid-nine-figure base, built a network of over 5 million experts, and scaled to more than $5 million in daily payouts to people helping train frontier AI models.
Founded in 2023 by college dropouts, Mercor has evolved beyond AI-powered recruiting into building the data, evaluations, and reinforcement learning environments used to train AI systems on real professional work.
Brendan explains why he believes every Fortune 500 company will eventually build its own AI intelligence, why human expertise becomes more valuable as AI improves, & how Mercor plans to expand from frontier labs into the broader enterprise economy.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Brendan Foody, Co-Founder & CEO Mercor
(01:00) Mercor’s Path to a $1T Company
(02:22) Mercor’s 3 Products
(04:05) $5M a Day in Expert Payouts on Stripe Connect
(05:40) Why Mercor Is Not a Marketplace
(08:51) Is Human Data a Durable Category
(12:20) How Mercor Finds and Evaluates Experts
(15:45) Holding Category Leadership With a Founding Team in Their Early 20s
(18:00) Chips on the Shoulder and Avoiding Mimetic Competition
(28:25) Why Mercor Acquired Deeptune
(31:22) Turning Down Acquisition Offers
(34:40) Harvey, LAB and Why the Model Is the Product
(41:30) Why Data Is Mispriced in the AI Stack
(43:40) Every Fortune 500 Becomes a Neolab
(49:55) IPO Timeline and the Next 12 Months
Molly on X: https://x.com/MollySOSheaBrendan on X: https://x.com/BrendanFoody𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates! https://www.sourcery.vc
Disclosure: Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley
Planet Labs Factory Tour
Planet builds a satellite in about 8 hours. At NASA, the same work took 8 years.Will Marshall is Co-Founder and CEO of Planet Labs (NYSE: PL), which has built about 700 satellites in 15 years, more than any …
Notas do episódio
Planet builds a satellite in about 8 hours. At NASA, the same work took 8 years.
Will Marshall is Co-Founder and CEO of Planet Labs (NYSE: PL), which has built about 700 satellites in 15 years, more than any company except SpaceX, and runs the only fleet that images Earth’s entire landmass every day.
Marshall walks through Planet’s SF factory, from the garage whiteboard and the phone the founders launched on a suborbital rocket, to the clean room where Pelican-10 is being integrated, the shock, vibration, and thermal test stations, and the RF chamber.
The tour ends with a live demo of Planet’s AI interface querying 10 years of daily imagery, and a first look at the new Dove production floor.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Will Marshall, Co-Founder & CEO at Planet Labs
(00:48) 700 satellites for less than one NASA mission
(02:44) Why Planet Labs is really a data business
(03:45) How a satellite sees trees from 500 km away
(06:22) 4 million images of Earth, every day
(07:44) What a satellite goes through to reach orbit
(09:03) The $500 phone vs. the $1B satellite
(12:05) 1,000x more data than the first satellites
(14:47) Planet Labs' 48 ground stations that bring Earth’s data home
(16:44) Why every Planet Labs satellite is named after a bird
(18:19) A look inside Planet Labs’ sharpest satellite
(20:17) Why Planet Labs doesn’t make its own chips
(21:14) Building a satellite in 8 hours, not 8 years
(22:47) Why fleet size isn't what matters
(24:30) The engine that’s 10x more efficient in space
(25:29) Why the 100 million pieces of space junk is the real collision risk
(26:56) Spotting gas leaks from space
(27:40) Testing satellites to the breaking point
(32:19) What changed at Area 51 in five years?
(37:31) The room where satellite radios are tested
Will Marshall: https://x.com/Will4PlanetMolly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
Planet Labs CEO: Why AI Data Centers Will Move to Space
I visited Planet Labs (NYSE: PL) in San Francisco to tour its satellite manufacturing facility and sit down with Co-Founder & CEO Will Marshall.Planet has built more than 700 satellites, second only to SpaceX …
Notas do episódio
I visited Planet Labs (NYSE: PL) in San Francisco to tour its satellite manufacturing facility and sit down with Co-Founder & CEO Will Marshall.
Planet has built more than 700 satellites, second only to SpaceX, and operates the only constellation capable of imaging Earth's entire landmass daily, generating roughly 4 million images per day for defense, government, and commercial customers.
Will explains Planet's work with Google on Project Suncatcher and NVIDIA-powered compute in orbit, why AI data centers in space could eventually be cheaper than on Earth, and how its satellite intelligence supports Ukraine, the US Navy, and governments building sovereign space capabilities.
We also discuss Planet's growing defense business, AI-powered Earth monitoring, its manufacturing expansion in San Francisco and Berlin, the search for extraterrestrial life, and lessons from 15 years of building Planet.
Will Marshall: https://x.com/Will4Planet
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/llGHpPbCtHo
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Will Marshall, Co-Founder & CEO at Planet Labs
(00:49) “We go where the cool people are”
(01:46) What it takes to image Earth every day
(04:13) Why information is power in modern war
(07:39) Why countries want their own satellites
(08:34) How Wall Street and Big Tech are watching from space
(11:16) The most surprising uses of satellite imagery
(14:49) Imaging any point on Earth within 30 minutes
(17:24) What if you could ask a satellite a question?
(19:41) Every AI story comes back to compute
(20:38) Do data centers in space make sense?
(25:32) Why satellites are so sensitive
(26:55) The NASA maverick who made Planet Labs possible
(28:37) Who's on Planet Labs no-go list
(29:18) Will's prediction on finding aliens
(33:34) Inside NASA's alien hotline
(35:05) How a childhood hero inspired Will’s space career
Inside fal’s $1.65B Series E & F Led by Sequoia & Bessemer
fal has raised $1.65B in a combined Series E and Series F, with Sequoia Capital leading the E and Bessemer Venture Partners leading the F. Its founders see generative media as 1 of only 3 product market fits in …
Notas do episódio
fal has raised $1.65B in a combined Series E and Series F, with Sequoia Capital leading the E and Bessemer Venture Partners leading the F. Its founders see generative media as 1 of only 3 product market fits in AI, alongside search and coding agents.
Burkay Gür (Co-Founder and CEO) and Gorkem Yurtseven (Co-Founder and CTO) started fal in 2021 after building machine learning infrastructure at Coinbase and Amazon. fal runs the infrastructure behind image, video, audio, and 3D models, serving developers, studios, and the model labs themselves.
Recorded at Dalida in San Francisco, Burkay and Gorkem explain how fal moved from Python data infrastructure into generative media, why video and image now split its revenue 50/50, and how demand kept rising as video prices jumped more than 10X. They also cover fal’s 150+ person org with only 2 reporting levels, the compute shortage shaping model launches, and why they believe the margin in AI sits with compute providers over applications.
“AI really has 3 product market fits. One of them is search. The other really clear one that’s growing really fast now is coding agents. And the third one is, we believe, generative media.”
We cover:
› The $1.65B Series E and F
› Why individuals spend $10K to $20K a month on generative media
› Veo 2 pricing and the shift to professional ads and film work
› Super ICs and hiring for agency, hunger, and humility
› World models, open source, and Hollywood adoption
Burkay Gur: https://x.com/burkaygur
Gorkem Yurtseven: https://x.com/gorkem
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/pPzJ1wE8Lnw
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
Inside $17B Index Ventures: Anthropic, Wiz, Datadog & the Future of AI
Shardul Shah, Partner at $17B Index Ventures, joins Sourcery from the firm's NYC office to discuss its investments in Anthropic, Wiz, Datadog, Simile, Parallel, and the next generation of AI companies.Shardul …
Notas do episódio
Shardul Shah, Partner at $17B Index Ventures, joins Sourcery from the firm's NYC office to discuss its investments in Anthropic, Wiz, Datadog, Simile, Parallel, and the next generation of AI companies.
Shardul joined Index in 2008 and has backed some of the most important companies in cloud infrastructure and cybersecurity, including Wiz, acquired by Google for $32B.
We discuss why startup valuations will keep rising, how Index invests in founders before they even have a business plan, the firm's approach to conviction and concentration, the future of cybersecurity in an agent-to-agent world, and the evolving IPO and M&A markets.
Shardul also shares how Index invested over $250M in Wiz, why the firm has historically underestimated its biggest winners, and how it identifies the next generation of category-defining founders.
Shardul Shah: https://x.com/shardul_shah
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/9Vq63dnCfMU
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Shardul Shah, Partner at Index Ventures
(00:54) How venture has changed in the last 5 years
(04:00) Index's biggest investments
(05:35) What Index looks for when backing founders
(08:41) Will AI replace venture capital?
(09:17) What’s durable when AI moves this fast?
(11:35) Why Index doesn't worry about valuations
(15:12) "We're no longer an underdog"
(16:33) The hardest part of winning deals
(18:25) The founder who proved his investor wrong
(21:13) The lessons behind saying no and thinking bigger
(26:10) Inside Flapping Airplanes
(26:47) Did Wiz sell too early?
(30:56) How much money do startups really need?
(33:55) Concentration vs diversification
(35:43) Why venture fund cycles are getting shorter
(37:13) The changing IPO and M&A environment
(39:41) What 3 decades of returns look like
(41:25) The person behind Shardul's biggest decisions
Inside Starcloud’s $2B Space Factory
I went inside Starcloud’s headquarters in Redmond, Washington, right outside of Seattle, to tour the $2.3B company building AI data centers in space.Philip Johnston, CEO & Co-Founder led the tour, alongside …
Notas do episódio
I went inside Starcloud’s headquarters in Redmond, Washington, right outside of Seattle, to tour the $2.3B company building AI data centers in space.
Philip Johnston, CEO & Co-Founder led the tour, alongside technical features with Co-Founder & CTO Ezra Feilden, Co-Founder & Chief Engineer Adi Oltean, as well as Bailey Montaño, Miguel Rivera and Camilo Lopez from the engineering team.
Starcloud has raised $450M to put Nvidia GPUs, AI inference and eventually gigawatts of computing infrastructure into orbit. Its latest round was $250M, led by Manhattan West, with Nvidia, Cisco Investments, Benchmark and EQT. The team went from founding to orbit in 21 months. Starcloud 1 launched with the first Nvidia H100 in space. Starcloud 2 launches in January with 100x the power, and Starcloud 3 is designed to deploy up to 50 satellites per SpaceX Starship launch.
We cover the economics of orbital vs terrestrial data centers, the $500/kg launch cost threshold, SpaceX rideshare and Nvidia chips in space. We also get into liquid cooling and radiators, radiation and chip burn-in, edge inference for government customers and plans for an 88,000-satellite constellation.
We also go behind the scenes of spacecraft testing, including a rebuilt secondhand vibe table, plus laser fabrication and welding. We close with Philip’s take on SpaceX passing $100T and his mission to send a spacecraft to Alpha Centauri.
Philip Johnston: https://x.com/PhilipJohnston
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/mdq6urSx-f8
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
I Got Interviewed! The Story Behind Sourcery, Alex Karp, Sam Altman Clip..
I got interviewed! Paige Finn Doherty of Behind Genius sat down with me in the yard to look back on Sourcery's insane growth for her 100th episode. Copy below is from her post, check out her podcast Seed to …
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I got interviewed! Paige Finn Doherty of Behind Genius sat down with me in the yard to look back on Sourcery's insane growth for her 100th episode. Copy below is from her post, check out her podcast Seed to Harvest. (https://open.spotify.com/show/1TcSnOcmeCG82HnXwNZwM0?si=452aee7408c1489c)
In just one year of full-time building Sourcery, Molly O’Shea has interviewed over 200+ founders, CEOs, execs & investors across public co's, startups, VC, growth equity, PE, hedge funds on her show, Sourcery - including Alex Karp, the CEO of Palantir ($PLTR), Palmer Luckey, CEO of Anduril, Brian Armstrong, CEO of Coinbase. In today’s episode, we talk about how an art degree led her into venture, how an internal deal newsletter became Sourcery, and why she went all-in on X when Elon bought it.She also shares her contrarian take on funding-announcement exclusives and how a Top 100 dream-guest list landed her the Alex Karp interview that went viral. And yes, we talk about the Alex Karp sword swinging moment. My mission is to educate and inspire the next generation of CEOs and builders, and the reason why I wanted to share a conversation with Molly is she’s one of my favorite creators in the technology space!00:25 Intro01:26 Lemonade stands in Connecticut and growing up with two entrepreneur parents03:59 Drawing houses in Moleskines and teaching herself dimensions06:14 Using art to stand out08:32 Why the USC Architecture program failed her ROI test11:17 Discovering VC at Google’s 30 Weeks incubator15:12 Breaking into VC18:44 How Sourcery started as an internal deal newsletter22:53 Why she went all-in on X when Elon took over27:41 Breaking news vs. timeless content, and a funding-announcement playbook31:34 What frustrates her: companies that don’t amplify their own interviews34:21 Her Top 100 dream-guest list38:06 How the list landed Alex Karp40:55 Alex Karp: The first walking interview and the sword46:17 Jack Altman: “It’s my brother”48:28 Dry humor, Will Ferrell, and learning to smile49:53 The next list, and landing 20%+ of the first one in a year51:24 How Molly chooses guests55:41 Her vision for Sourcery: more walk-and-talks, factory tours, future list1:01:36 Molly asks Paige about Behind Genius Ventures1:05:28 What we’re each manifesting for the next 12 months
Franklin Templeton CEO on SpaceX, Anthropic, Circular Deals & the State of the Market
Is AI in a bubble? What happens to circular AI financing deals, and why is one of the world's largest asset managers investing in SpaceX and Anthropic?I sat down with Jenny Johnson, CEO of Franklin Templeton …
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Is AI in a bubble? What happens to circular AI financing deals, and why is one of the world's largest asset managers investing in SpaceX and Anthropic?
I sat down with Jenny Johnson, CEO of Franklin Templeton ($1.8T AUM), at the firm's NYC headquarters to discuss today's market conditions, AI valuations, private markets, and the future of investing.
We cover:
AI Bubble & Circular Deals: AI infrastructure spending, revenue recognition, chip depreciation, and risks in long-term data center financing.
SpaceX & Anthropic: Franklin Templeton's late-stage venture investments, the SpaceX IPO, and Elon Musk's ambitions.
Market Conditions: Inflation, interest rates, geopolitical risks, and where Jenny sees opportunities.
Building a $1.8T Asset Manager: 17 acquisitions in six years, the $4.5B Legg Mason deal, and Franklin's expansion into private markets.
AI & Tokenization: 1,000+ AI agents, an 11% sales uplift, and why blockchain could transform financial infrastructure.
Jenny also shares how she went from Franklin Templeton's mailroom to CEO, and why she believes Elon Musk is the modern-day Benjamin Franklin.
Jenny Johnson: https://www.linkedin.com/in/jennyjohnsonfranklintempleton
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/VmCKksLNmsM
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/ • Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Jenny Johnson, CEO at Franklin Templeton
(01:08) Where is the market really headed?
(05:34) Why AI is the biggest growth lever
(08:10) Are we in an AI bubble?
(11:28) How Franklin Templeton got into SpaceX and Anthropic
(18:28) Closing a $4.5B deal in the middle of COVID
(21:39) The strategy behind 17 acquisitions in 6 years
(24:11) How Canvas grew from $2.5B to $30B
(28:43) Why blockchain will rebuild finance
(32:50) Will companies stop paying for top AI models?
(37:08) Franklin Templeton’s 70-year climb
(40:21) Who is the modern day Ben Franklin?
The $2B AI Startup Simulating Human Behavior with 85% Accuracy
What if AI could predict human behavior before it happens?I sat down with Joon Sung Park, Co-Founder & CEO of Simile, the $2B AI startup building foundation models of human behavior, backed by Greenoaks, Index …
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What if AI could predict human behavior before it happens?
I sat down with Joon Sung Park, Co-Founder & CEO of Simile, the $2B AI startup building foundation models of human behavior, backed by Greenoaks, Index Ventures, + investors including Fei-Fei Li & Andrej Karpathy.
Simile is building digital twins of real people to simulate how individuals, consumers, and entire populations make decisions. Its foundational Stanford research demonstrated 85%+ accuracy in predicting human behavior, and today the company has partnerships providing access to over 40 million real people globally.
Companies including CVS, Wealthfront, Deloitte, and Banco Itaú are already working with Simile to understand their customers, test products, optimize messaging, and simulate decisions before deploying them in the real world.
Recorded at Index Ventures in San Francisco, we discuss how Joon's original Stanford research, Smallville, evolved from 25 autonomous AI agents into a $2B company, why human behavior is more predictable than we think, and how simulations could transform traditional market research, corporate strategy, and decision-making.
We also put Simile to the test. Before our interview, Joon simulated our conversation using AI, and the model correctly anticipated one of my opening questions.
Joon Sung Park: https://x.com/joon_s_pk
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/-6Kg5N7JL7I
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
Ex-Twitter CEO Says We’re Underestimating AI Agents by 10,000x
Former Twitter CEO & CTO Parag Agrawal predicts AI agents could drive another 5,000–10,000x increase in web usage, fundamentally transforming how the internet operates and makes money.Now Founder & CEO of $2 …
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Former Twitter CEO & CTO Parag Agrawal predicts AI agents could drive another 5,000–10,000x increase in web usage, fundamentally transforming how the internet operates and makes money.
Now Founder & CEO of $2 Billion Parallel Web Systems, Parag is building the search infrastructure for an internet where AI agents, not humans, become the primary users. With a reported $230M raised, customers including Harvey and Notion, and a team that has grown 4x this year, Parallel is positioning itself at the center of the AI infrastructure boom.
Recorded at Index Ventures in San Francisco, we discuss the massive GPU demand behind AI search, why traditional advertising and subscription models could break, and how Parallel is developing a new way to compensate content owners as agents replace human browsing. Parag also explains why the web will shift from reactive to proactive, how he's scaled Parallel from 30 to 120 employees this year, and lessons from his 11 years at Twitter as engineer, CTO, and CEO.
Parallel Web Systems was funded by Index Ventures.
Parag Agrawal: https://x.com/paraga
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/iRI6gTe1wGM
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Parag Agrawal, Founder & CEO at Parallel
(01:03) What is Parallel AI?
(05:28) Bots took over the web & it’s only the start
(07:22) Will people stick with AI agents?
(11:55) Why models will get bigger, smarter and cheaper
(14:47) Where AI startups actually find GPUs
(19:43) Is 10x a year the new normal?
(21:59) Searching the web faster than you can blink
(26:02) AI that knows what you need before you do
(26:57) Agents are breaking the web’s business model
(31:08) Good bots vs bad bots
(42:04) Why great models still give bad answers
(47:56) Proactive agents and the future of search
(51:30) The person who drives Parag’s ambition
Apollo’s Yahoo Playbook, 5 Years After the $5B Deal
Apollo bought Yahoo and AOL from Verizon in 2021 for about $5B. 5 years later, Yahoo has returned Apollo’s capital in one of the fastest returning deals in the firm’s history.Jim Lanzone has been CEO of Yahoo …
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Apollo bought Yahoo and AOL from Verizon in 2021 for about $5B. 5 years later, Yahoo has returned Apollo’s capital in one of the fastest returning deals in the firm’s history.
Jim Lanzone has been CEO of Yahoo since September 2021. Yahoo ranks among the top 5 internet companies in the US, reaching roughly 90% of the American online population and 700M users globally each month across Finance, Sports, Mail, News, and Search. Jim previously served as CEO of Tinder, CBS Interactive, where he launched CBS All Access (now Paramount+), and Ask Jeeves, and co-founded eTour. He sits on the board of Snap.
We go inside the Apollo acquisition, a structure of roughly $4.25B in cash, $750M in preferred interests, and a 10% stake retained by Verizon, and how Jim works with Reed Rayman, now Head of the AI Sector at Apollo and still Yahoo’s board chair. Jim walks through reorganizing Yahoo into GM-led brands, shutting down and selling a money-losing ad tech stack, and divesting EdgeCast, TechCrunch, and AOL, which went to Bending Spoons for a reported $1.4B to $1.5B. We also cover Yahoo Scout, the company’s first in-house search engine in 17 years, and why startups with less than one-tenth of 1% of Yahoo’s users carry higher valuations.
“It’s one of the fastest returning deals in the history of Apollo. We are playing with house money now for what the upside could be here.”
We cover:
› Inside Apollo’s ~$5B acquisition and the deal structure
› Working with Apollo’s Reed Rayman on a growth-led turnaround
› Divesting AOL, EdgeCast, TechCrunch, and the ad tech stack
› Yahoo Scout, AI search, and 30 years of search data
› 700M monthly users and Yahoo’s valuation vs AI startupsJim Lanzone: https://x.com/jlanzone
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/31JELwiXgMo
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
Vercel CEO Guillermo Rauch on Building the Internet for Agents
Guillermo Rauch, Founder and CEO of Vercel, joins Sourcery from the company's San Francisco headquarters to discuss how AI agents are transforming software development, infrastructure, and the economics of …
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Guillermo Rauch, Founder and CEO of Vercel, joins Sourcery from the company's San Francisco headquarters to discuss how AI agents are transforming software development, infrastructure, and the economics of SaaS.
Vercel has reportedly reached $600M in annualized revenue, growing 148% YoY, with more than 485,000 paying teams and a $9.3B valuation. Its infrastructure powers applications for OpenAI, Meta, Stripe, Shopify, DoorDash, and more.
AI agents now account for 60% of Vercel deployments, up from just 3% at the beginning of 2026. Guillermo explains why coding is becoming dramatically cheaper, why companies may eventually generate software instead of buying it, and how the internet is shifting from human interfaces to agent-native infrastructure.
We cover open vs. closed AI models, autonomous agents, cybersecurity, the future of SaaS, exploding compute demand, and how the role of software engineers is changing.
Guillermo Rauch: https://x.com/rauchg
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/WuorvLfAFmA
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Mercor—The human intelligence behind frontier AI. Frontier labs and leading enterprises use Mercor to turn the knowledge of 5M+ experts into the data, evals and benchmarks that make AI better at real work. Visit: http://mercor.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Guillermo Rauch, Founder & CEO at Vercel
(03:32) The simplest advice for going viral
(07:24) How Vercel became the index of AI
(14:34) Robots writing code for robots
(17:57) The web's next users aren't human
(21:15) Is ChatGPT reading your website right now?
(29:16) The end of SaaS and the rise of personal software
(34:07) AI agents are soldiers with no frontal lobe
(45:42) AI hackers and the coming cyber war
(52:10) 80% of tokens now go to open models
(59:00) The biggest risk for frontier labs
(1:04:00) Can AI labs survive the public markets?
(1:06:28) Why AI has Silicon Valley working 7-7-7
(1:16:56) Your vibe-coded demo won't get you hired
(1:22:22) The hardest part of running a company is keeping it simple
(1:27:01) Why no company can run all its AI apps 24/7
Thrive Capital's Bet on Neuralink, OpenAI & the Future of Medicine
Dr. Nworah Ayogu, MD, MBA, Partner at Thrive Capital, joins Sourcery to discuss how AI is transforming drug discovery, medicine, and the economics of healthcare.A Harvard-trained physician, founding team member …
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Dr. Nworah Ayogu, MD, MBA, Partner at Thrive Capital, joins Sourcery to discuss how AI is transforming drug discovery, medicine, and the economics of healthcare.
A Harvard-trained physician, founding team member of Cityblock Health, former General Manager of Amazon Clinic and first Chief Medical Officer of Amazon Pharmacy, Nworah is now a partner at Thrive Capital. The investment firm has grown to over $65bn in AUM and its healthcare portfolio includes Neuralink, Nudge, Isomorphic Labs, OpenEvidence, OpenAI, Oscar Health, and Cadence.
We cover AI's potential to accelerate drug development, Isomorphic Labs and Demis Hassabis, Neuralink's brain-computer interfaces, OpenEvidence's rapid adoption among physicians, personalized medicine, and the emergence of 10X doctors and nurses.
We also explore some of Thrive’s breakout healthcare incubations, the next generation of trillion-dollar healthcare companies, and why AI's most important breakthroughs may happen in medicine rather than software.
Disclaimer: This podcast is for informational purposes only. The views expressed are the speaker's own as of the recording date and are subject to change. Thrive funds and their affiliates have investments in certain companies discussed in this episode. References to those companies are illustrative, do not represent all investments made by Thrive, and should not be viewed as recommendations or indications of future investment performance. Past performance is not indicative of future results.
Dr. Nworah Ayogu: https://www.linkedin.com/in/nworah
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/gYA2yyV6U5E
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: https://www.harvey.ai
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
Perplexity CEO: SMBs Could Drive the Next Economic Boom
Perplexity Founder & CEO Aravind Srinivas believes the next wave of American economic growth could come from smaller, AI-native businesses, not just the largest technology companies.Perplexity, valued at ~$20B …
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Perplexity Founder & CEO Aravind Srinivas believes the next wave of American economic growth could come from smaller, AI-native businesses, not just the largest technology companies.
Perplexity, valued at ~$20B with more than $2B in reported funding and backing from NVIDIA, SoftBank, IVP, NEA, Accel, Jeff Bezos, and Elad Gil, has evolved from an AI answer engine into a platform for autonomous agents, research, and knowledge work.
I sat down with Aravind at Perplexity's new San Francisco headquarters to discuss the economics of AI, the future of entrepreneurship, and why agents could enable a generation of smaller, more profitable companies.
Aravind reveals that Perplexity's revenue is growing 5x year over year, enterprise adoption is accelerating, and one solopreneur is spending over $1M annually on Perplexity Computer while generating $3M in annual revenue.
We also explore Perplexity's bet on local AI, its work with NVIDIA and Apple, and why the company has no plans to build its own data centers despite the massive infrastructure buildout underway.
Aravind Srinivas: https://x.com/AravSrinivas
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/1C8_n9nnx5Y
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Harvey—The AI platform built for legal work, is helping the best firms and companies close deals faster. More than 200,000 lawyers, 80% of the Am Law 100, and over 20% of the Fortune 500 build with Harvey. Visit: http://harvey.ai/
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure:
Paid Ad. Agents are an experimental AI tool. Its output may be inaccurate and is not investment advice. Public Holding’s, Inc. makes no guarantees about its accuracy or reliability—verify independently before use. Brokerage accounts and services provided by Open to the Public Investing, Inc. See additional disclosures at https://public.com/disclosures/agenticdisclosures.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Aravind Srinivas, Co-founder & CEO of Perplexity
(01:30) Why Perplexity's brand is built on curiosity
(08:18) How to build a $1T company in America alone
(13:45) Is the American dream still alive?
(16:28) Stop blaming users for bad prompts
(22:55) How Perplexity quietly grew 5x
(28:28) "We don't have competitors, we have contributors"
(29:20) The data center is coming to your laptop
(34:32) Orchestrating up with NVIDIA, down with Apple
(39:17) Why Perplexity is skipping the data center race
(41:25) Stop asking AI to write code, ask it to think
(48:27) The Hugging Face incident & multi-agent threats
(53:31) Why Perplexity isn’t chasing a billion users
USV’s New $900M Fund: Fred Wilson, Rebecca Kaden & Mike Mignano
USV spent 20 years keeping its funds small on purpose. Its new $900M raise is the largest fund cycle in the firm’s history.I sat down with USV General Partners Fred Wilson, Rebecca Kaden and Michael Mignano at …
Notas do episódio
USV spent 20 years keeping its funds small on purpose. Its new $900M raise is the largest fund cycle in the firm’s history.
I sat down with USV General Partners Fred Wilson, Rebecca Kaden and Michael Mignano at the firm’s New York office to unpack why one of venture capital’s most disciplined early-stage firms is getting bigger now, and what they think the next era of AI will look like. Together with General Partner Nick Grossman, they’re leading USV into its next chapter.
USV was early to Twitter, Coinbase, Stripe, MongoDB, Twilio, Etsy, Duolingo and Abridge. More than 20 years after Fred Wilson and Brad Burnham laid out the firm’s original internet thesis, Fred believes AI today looks a lot like the internet in 2003. The infrastructure is here, but many of the defining applications have yet to be built.
We get into why AI is making products cheaper to build but breakout companies potentially more expensive to create, why ARR can hide weak retention, the growing importance of founder storytelling, personal AI agents, the “Rebel Alliance” around open AI infrastructure, and why energy may be one of the cleanest bets on AI.
At the center of USV’s new thesis is “obliterate, don’t automate.” Instead of making existing industries incrementally more efficient, AI could completely restructure them. Fred’s version is simple. Don’t hire a lawyer, use an AI lawyer. Don’t hire an accountant, use an AI accountant. Don’t hire a doctor, use an AI doctor.
Fred Wilson: https://x.com/fredwilson
Rebecca Kaden: https://x.com/rebeccakaden
Michael Mignano: https://x.com/mignano
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/sYH4fKKtSPw
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
John Collison, Stripe: AI Agents Will Rewire the Internet
John Collison, Co-Founder of Stripe, on how AI agents are changing commerce, payments and the internet itself.I sat down with John at Browserbase Navigate to talk agentic commerce, computer use, cybersecurity …
Notas do episódio
John Collison, Co-Founder of Stripe, on how AI agents are changing commerce, payments and the internet itself.
I sat down with John at Browserbase Navigate to talk agentic commerce, computer use, cybersecurity and why Stripe considers 2026 the beginning of the “singularity epoch.” We get into why computer use could be the next major leap in AI, how agents will reshape product discovery and transactions, and why Stripe is rebuilding parts of its infrastructure for AI instead of humans.
We also cover Stripe’s acquisitions of Bridge, Privy, Metronome and OpenRouter, usage-based billing, multi-model routing and how AI is already transforming workflows inside Stripe.
Browserbase builds infrastructure for AI agents that use the web, providing cloud browsers and tooling that let agents navigate websites and take actions across existing web interfaces.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Stripe’s $1.9T & Rebuilding for AI
(00:31) Why Agents Will Replace Web Forms
(02:20) How AI Rewires Commerce & Product Discovery
(04:40) Why AI Could Mean More Cyberattacks
(06:49) Why Stripe Says the Singularity Started in 2026
(09:29) Stripe Is Rebuilding Its APIs for AI Agents
(11:38) Why Stripe Bought Bridge, Privy, Metronome & OpenRouter
(15:12) When Stripe Builds vs. Buys
(16:55) How AI Is Changing Stripe Internally
(20:39) How John Keeps Up With AI
(23:28) The Coming Good Bot vs. Bad Bot Problem
(24:53) 17 Years of Lessons Building StripeFrontier AI Is a Ferrari. Most Companies Need a Model Y | Turing CEO
Jonathan Siddharth, Co-Founder & CEO of Turing, joins Sourcery to break down how AI training & deployment are changing in 2026.We cover the shift from training models to pass benchmarks to training agents for …
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Jonathan Siddharth, Co-Founder & CEO of Turing, joins Sourcery to break down how AI training & deployment are changing in 2026.
We cover the shift from training models to pass benchmarks to training agents for real work through RL environments, and why AI agents that can operate for days today could eventually work autonomously for weeks, months and years.
Jonathan explains why open-weight models are now roughly 3–6 months behind the frontier, why enterprises are building their own AI systems, and how companies should think about frontier vs. sovereign AI, model routing, distillation and owning their proprietary learning loops.
“There's absolutely a place in the world for Ferraris & Koenigseggs. But there's also a place in the world for Model Ys.”
We also get into reward hacking, emergent behavior, AI safety, recursive self-improvement, super intelligence (SI) and why Jonathan believes AI will see a slower takeoff over the next decade rather than an overnight transition.
Jonathan Siddharth: https://x.com/jonsid
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/nI1owceD-xg
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Jonathan Siddharth, Co-Founder & CEO at Turing
(01:03) The biggest shift in AI data this year
(04:10) Why AI won't replace jobs, but uplevel them
(08:31) The arms race inside cybersecurity
(11:22) Why train AI on what it shouldn't do?
(15:45) The Hugging Face hacking incident
(22:33) How AI models cheat to win
(27:40) The AI playbook
(32:20) Open models are only 3–6 months behind
(41:30) Why chips, energy and data always win
(47:27) Is superintelligence by 2030 the goal?
(53:32) Jonathan's hottest take on AI
(55:00) The next 10 years of superintelligence
Annie Lamont: $14B Managed, 70+ Exits, 15 IPOs, 7x Midas Investor
Annie Lamont is Co-Founder and Managing Partner of Oak HC/FT, the healthcare and fintech investment firm she built with Andrew Adams. Across 40+ years she has managed $14B, backed 70+ successful exits and 15 …
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Annie Lamont is Co-Founder and Managing Partner of Oak HC/FT, the healthcare and fintech investment firm she built with Andrew Adams. Across 40+ years she has managed $14B, backed 70+ successful exits and 15 IPOs, and been named the top healthcare investor on the Forbes Midas List multiple times. Her portfolio includes athenahealth, Devoted Health, One Medical, CareBridge, VillageMD, Main Street Health, Komodo Health, and Chai Discovery.
Recorded at the New York Stock Exchange, the conversation covers China taking 50% of pharma's outside research dollars, clinical trial reform at the FDA, and Chai Discovery's roadmap from antibodies to peptides to small molecules. Lamont also explains how AI can cut the 25% to 30% of healthcare costs that are administrative.
On the investing side, she walks through backing repeat founders Todd Park and Brad Smith, CareBridge's acquisition by Elevance, Oak's $1M to $100M check sizes across a $2B fund, and newer portfolio companies Halluminate and Auger. The episode closes with the Brex Performance segment on mentors.
"I just think you've got 10% of the world that's worth it & 90% that's not."
We cover:
› Why AI drug discovery changed in the last 2 years
› China's rise in life sciences
› Devoted Health tripling in size and halving its operating ratio
› Why only 10% of AI companies justify their valuations
› Auger and Dave Clark's $100M AI supply chain build
Annie Lamont: https://x.com/annielamont
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/sjd_G6-k930
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Annie Lamont, Co-Founder & MP at Oak HC/FT
(00:56) How AI reshaped the line between Healthcare and Fintech
(08:35) The China threat to American drug development
(17:03) Are Hospitals actually at risk from AI?
(23:26) How AI will transform your healthcare experience
(32:58) How M&A is changing in Healthcare
(58:49) What's kept Annie Lamont going for four decades
IMEC Says Today’s AI Will Look Ancient in 10 Years
AI's next bottleneck? It might not be GPUs. Memory prices have risen 700% this year, while power, cooling and data transfer are all becoming major constraints on the AI infrastructure buildout. At the same …
Notas do episódio
AI's next bottleneck? It might not be GPUs. Memory prices have risen 700% this year, while power, cooling and data transfer are all becoming major constraints on the AI infrastructure buildout. At the same time, the semiconductor industry is approaching the physical limits of simply making transistors smaller.
I sat down with Steven Latré, VP of AI at imec and Thema Board Member, and Adam Chambers of Strike Capital, to talk about what comes after the GPU and where the next wave of value in AI infrastructure could be created.
We get into
› Why memory is already one of AI's biggest bottlenecks
› The power, cooling and data transfer constraints behind inference
› Why photonics could become a critical technology for the next generation of chips
› What happens as Moore's Law approaches the limits of physics
› Why Steven thinks we'll laugh at today's AI in 5–10 years
Steven describes imec as the “hidden gem” of semiconductors. The organization works years ahead of the commercial market, with the world's biggest chip companies coming through its facilities to develop technologies that may not reach the market for another 7–10 years.
His hottest take is that today's LLMs will eventually look like dial-up internet.
“I think we're gonna laugh 5-10 years from now at how old-fashioned AI was today.”
Recorded at the Strike x Sourcery Summit in the South of France.
Steven Latre: https://x.com/slatre
Adam Chambers: https://www.linkedin.com/in/adam-chambers-0b2009274
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/6-q_8T_m5GM
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
The $500B Opportunity in Europe’s Defense Buildout
Europe is preparing to mobilize up to €800B in additional defense spending. But money alone doesn't solve one of its biggest problems.After decades of underinvestment, Europe's defense industry needs to …
Notas do episódio
Europe is preparing to mobilize up to €800B in additional defense spending. But money alone doesn't solve one of its biggest problems.
After decades of underinvestment, Europe's defense industry needs to dramatically increase its ability to manufacture at scale. Component lead times can stretch into years, certain contracts can take 4–5 years to deliver and modern warfare increasingly requires systems produced in the tens of thousands, hundreds of thousands or even millions. As Aistis Šimaitis puts it, “Volume wins.”
I sat down in Monaco with Aistis, Co-Founder & CEO of Onodrim and former head of Palantir's commercial business in Europe, George Hadjiminas, Chief Strategy Officer at Theon International & EFA Group, and Bruno Wejchert, Partner at Strike Capital.
We get into
› How Ukraine exposed the gaps in Europe's defense industrial base
› Why manufacturing and volume matter as much as new technology
› Why autonomous warfare requires dramatically cheaper components at massive scale
› Why George believes “prototypes don't fight wars”
› Bruno's prediction that Europe could produce a $500B defense company within the next decade
The conversation covers everything from autonomous systems and defense procurement to the lessons Aistis took from Palantir and why George believes “prototypes don't fight wars.” As billions flow into European defense, the question is increasingly not just who can build the best technology, but who can actually manufacture and deliver it at scale.
Recorded at the Strike x Sourcery Summit in the South of France.
Aistis Šimaitis: https://www.linkedin.com/in/aistissimaitis
George Hadjiminas: https://www.linkedin.com/in/georgioshadjiminas
Bruno Wejchert : https://www.linkedin.com/in/bruno-jan-wejchert-00b46a1a6
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/X_1wGD6nxbo
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
The $10T AI Buildout Has a Photonics Problem
AI's next infrastructure bottleneck? It's everything connecting them.As AI models grow, they increasingly need to run across massive clusters of GPUs. Traditional copper interconnects are running out of steam …
Notas do episódio
AI's next infrastructure bottleneck? It's everything connecting them.
As AI models grow, they increasingly need to run across massive clusters of GPUs. Traditional copper interconnects are running out of steam, pushing the industry toward optical interconnects and silicon photonics.
I sat down with Thema's Herwig Van Hove and Yannick De Koninck in Monaco to go deep on the photonics supply chain powering the next generation of AI infrastructure.
Yannick spent five years at NVIDIA, where he helped build its silicon photonics technology from scratch to product-ready maturity. He left what he calls the “golden palace” to join Thema and help build large-scale photonics manufacturing in Europe.
Herwig comes from deep tech investing and saw a different problem. The innovation was ready, but the industrial supply chain wasn't prepared for the speed or scale of AI demand.
We get into
› Why copper is running out of steam inside AI infrastructure
› How photonics could reduce the networking and energy bottlenecks facing AI factories
› Why the photonics supply chain wasn't prepared for the AI boom
› What Yannick learned building silicon photonics at NVIDIA
› Thema's plan to begin production in 2027 and build a major photonics manufacturing platform in Europe
Thema believes the opportunity extends far beyond a single component.
“If you look at an AI factory today, half of that is GPUs, but the other half is the technology to interconnect these GPUs.”
Herwig believes Europe has a rare opportunity to turn decades of photonics research into industrial scale, pointing to ASML as proof that Europe has done it before.
Recorded at the Strike x Sourcery Summit in the South of France
Herwig Van Hove: https://www.linkedin.com/in/herwigvanhove
Yannick De Koninck: https://www.linkedin.com/in/yannick-de-koninck-63304314
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/HfSIbxNv-To
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
The $3B Company Trying to Beat Amazon Prime
Stord is on track to cross $1 billion in annual revenue this year after 10Xing the business over the last four years.The goal: level the playing field with Amazon Prime for the other two-thirds of commerce on …
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Stord is on track to cross $1 billion in annual revenue this year after 10Xing the business over the last four years.
The goal: level the playing field with Amazon Prime for the other two-thirds of commerce on the internet.
I sat down with Stord Founder & CEO Sean Henry in Cap Ferrat to talk about the company's $250M Series F, its massive bet on robotics and AI, and why he believes the biggest value from this technology may ultimately accrue to physical businesses, not the AI and robotics companies themselves.
Stord now processes roughly 100 million packages a year reaching about one-third of U.S. households, representing nearly $20 billion in GMV and generating around 8 billion operational data points annually.
We get into:
› Why Stord is going hard on agentic robotics and AI
› The data advantage behind 100M packages a year
› Why humanoids may be the wrong form factor for warehouses
› How acquisitions and vertical integration are accelerating Stord's scale
› Going from Thiel Fellow at 19 to building a $1B+ revenue business
Sean also explains the flywheel behind Stord: more volume creates greater density, lower costs and faster delivery, which in turn makes the company more competitive as it scales.
His hottest take is that today's AI and robotics companies may eventually become commoditized as the technology becomes cheaper and easier to replicate internally.
Instead, he thinks the value accrues to the application layer and real-world businesses putting that technology to work.
Recorded at the Strike x Sourcery Summit in the South of France
Sean Henry: https://x.com/seanhenry
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/oMKuy_-vXa4
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
How Deel Scaled From $100M to $1B+ ARR in 3 Years
Deel went from $1M to $100M in ARR in under 20 months, then from $100M to $1B in just 3 years.Today, the company has surpassed $1.5B in revenue and is valued at $17.3B.I sat down with Shuo Wang, Co-Founder & …
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Deel went from $1M to $100M in ARR in under 20 months, then from $100M to $1B in just 3 years.
Today, the company has surpassed $1.5B in revenue and is valued at $17.3B.
I sat down with Shuo Wang, Co-Founder & CRO of Deel, to break down the sales and operating machine behind one of the fastest-growing companies in tech.
Shuo co-founded Deel alongside Alex Bouaziz, Co-Founder & CEO, in 2019. They built Deel as a global company from day one. Today, the company helps businesses hire, manage and pay teams around the world.
We get into:
› How Deel scaled from $100M to $1B in three years
› Why Shuo thinks founders simply aren't selling enough
› Building and incentivizing a remote sales organization across 120 countries
› How an MIT-trained robotics engineer became CRO and applies systems thinking to sales
› Shuo and Alex's founder dynamic, going global from day one and what she's learned from James Dyson and Jeff Bezos
Recorded at the Strike x Sourcery Summit in the South of France
Shuo Wang: https://x.com/shuooo
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/9_hERpzF_E0
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Shuo Wang, Co-Founder & CRO at Deel
(00:41) How Deel went from $100M to $1B ARR in 3 years
(02:43) Why Deel went global from day one
(03:36) Who uses Deel? From ElevenLabs to Chanel
(04:16) Hot take: People need to sell more
(05:15) Why sales is really about systems
(06:18) How to build a winning remote sales team
(07:48) Going global with Snoop Dogg
(08:34) How Shou and Alex divide the roles
(09:23) The founder who inspired Shuo
(10:24) The Bezos mindset
(11:36) Hot take: Why founders need to sell more
How Apollo, Citadel, Blackstone, & Bridgewater Built Their Brands
Jen Prosek has spent more than two decades helping build and protect the reputations of some of the biggest names in finance.She is the Founder & Managing Partner of Prosek Partners, which works across private …
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Jen Prosek has spent more than two decades helping build and protect the reputations of some of the biggest names in finance.
She is the Founder & Managing Partner of Prosek Partners, which works across private markets, asset management, venture capital, banking and technology — representing clients with roughly $70 trillion in combined AUM.
We sat down at the New York Stock Exchange to unpack how the most powerful firms and financiers build their brands, what destroys a reputation, how to recover when things go wrong, and why reputation has become even more important in the age of AI.
Jen breaks down the brand strategies behind Apollo, Citadel, Blackstone, Bridgewater and Meta; why Jensen Huang has become an ambassador for AI; how financial firms went from staying “under the radar” to spending millions on brand; and why VC firms are increasingly thinking like media companies.
We also get into crisis communications, when leaders should fight back versus stay quiet, why employees are one of the biggest reputation risks inside a company, the rise of podcasts and owned media, why LLMs are a comms strategy, and how founders should think about journalists.
Jennifer Prosek: https://www.linkedin.com/in/jennifer-prosek/
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/lJDb3bYkLfI
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Jennifer Prosek, Founder & MP at Prosek Partners
(01:10) What makes a great financial brand?
(06:47) How much firms spend on marketing
(07:45) How brand drives talent, deals, and capital
(09:00) How to build a brand
(13:31) How podcasts drive contracts and deal flow
(15:34) When to play offense with your brand
(19:55) The Coldplay concert incident
(23:05) Why relationships with journalists matter
(26:22) The problem with AI’s public narrative
(30:58) The role of a "chief EQ officer"
(34:25) How Meta rebuilt its brand
(39:08) How to win without traditional media
(42:30) How Apollo rebuilt its reputation
10 of The Wildest Hot Takes From the All-In Summit 2026
The All-In Summit returned to Los Angeles this year with one of its biggest lineups yet: Elon Musk, Jensen Huang, Satya Nadella, Gwynne Shotwell, Jared Isaacman, Brad Gerstner, Bill Gurley, Dina Powell …
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The All-In Summit returned to Los Angeles this year with one of its biggest lineups yet: Elon Musk, Jensen Huang, Satya Nadella, Gwynne Shotwell, Jared Isaacman, Brad Gerstner, Bill Gurley, Dina Powell McCormick, Jake Paul, Nick Shirley, Blake Scholl, Martin Shkreli and more — alongside hosts Chamath Palihapitiya, Jason Calacanis, David Sacks and David Friedberg.
Over three days, some of the biggest names across technology, AI, investing, energy, space, media and politics came together for conversations about where the world is heading.Sourcery was on the ground asking founders, CEOs, investors & creators one question: What’s your hottest take right now?
TIMESTAMPS
00:00 — Brad Gerstner, Altimeter — AI Safety
02:28 — Naveen Rao, CEO of Unconventional AI — AI Doom, Energy Efficiency & the SaaSpocalypse
09:00 — Jonathan Neman, CEO of Sweetgreen — AI vs. Processed Food
13:14 — Toby Rice, CEO of EQT — AI, Natural Gas & America’s Energy Demand
20:49 — Wen Sang, COO of Genspark — Why AI Should Speed Up, Not Slow Down
25:10 — Geoff Woo, Anti Fund — Free Will, Consciousness & the Singularity
33:24 — Nick Shirley — California High-Speed Rail & Government Spending
36:35 — Jake Paul, Anti Fund — Updating the Constitution
38:47 — Kent Draper, CCO of IREN — AI Infrastructure & Compute Demand
42:37 — Michael Brandt, CEO of Ketone-IQ — The Human Body as the Next Technology Platform
Molly on X: https://x.com/MollySOSheaBrought to you by:Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel. As a Sourcery subscriber you get: 75,000 points after spending $3,000 on Brex card(s). Plus, white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, and access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → brex.com/sourceryFollow Sourcery for the latest updates! https://www.sourcery.vc/#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley
a16z Just Launched a School
Gagan Biyani, Founder & CEO of Horowitz Andreessen Academy (fmr Co-Founder of Udemy and Maven), joins Sourcery from a16z’s San Francisco office to unveil a new kind of school built for the AI era.Backed with …
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Gagan Biyani, Founder & CEO of Horowitz Andreessen Academy (fmr Co-Founder of Udemy and Maven), joins Sourcery from a16z’s San Francisco office to unveil a new kind of school built for the AI era.
Backed with $42M from a16z and investors including Adam D’Angelo, Tobi Lütke, Tony Xu, Fidji Simo and Shyam Sankar, Horowitz Andreessen Academy is an AI-native, unaccredited residential program designed for some of the world’s most ambitious young builders.
Its Founding Class will bring roughly 50 students to San Francisco in Fall 2027 for a one-year, tuition-free fellowship. Instead of optimizing for grades, tests and credits, the Academy plans to optimize for proof of work, high agency and building real projects.
Students will learn alongside a network that includes founding partners Anthropic, Anduril, Coinbase, Meta, NVIDIA, OpenAI, Palantir, Replit and Stripe, with 75–80% of their time intended for projects and building.
Gagan and I discuss why AI is forcing education to change, why he believes traditional college still makes sense for most students, the rise of the “super IC,” why young founders shouldn’t rush to raise venture capital, what it means to become an AI-native builder, the importance of failure, and why Silicon Valley itself is central to the Academy’s model.
Gagan Biyani: https://x.com/gaganbiyani
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/5JEjv-JlYo8
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Gagan Biyani, Founder & CEO of Horowitz Andreessen Academy
(01:01) Why this Academy is different from college
(04:44) Started his first company at age 13
(11:55) Raising $40M for a School
(19:08) Should young builders really start companies?
(31:33) Why schools need to embrace AI
(48:51) Why high-agency students struggle in college
(1:02:19) Why you should apply even if you don't get in
(1:08:54) What the Academy program looks like
(1:14:41) Favorite book on AI and climate change
Eclipse's Lior Susan on $12.5B AUM and the Bet on Physical Industries
Eclipse spent 8 years investing in manufacturing, space, semiconductors, defense & mining while the rest of Silicon Valley funded SaaS. Lior Susan says the math was never close.Lior Susan is the Founder & CEO …
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Eclipse spent 8 years investing in manufacturing, space, semiconductors, defense & mining while the rest of Silicon Valley funded SaaS. Lior Susan says the math was never close.
Lior Susan is the Founder & CEO of Eclipse, the Palo Alto firm he started in 2015 with a $125M debut fund alongside Pierre Lamond, who was 85 at the time & had already spent a career at Fairchild Semiconductor under Gordon Moore, co-founded National Semiconductor, & put in 27 years as a GP at Sequoia Capital. Lamond is 96 now and still mentors the team.
"We never thought ourselves as venture capital. We call it operators with capital because we are operators with capital."
Eclipse manages approximately $12.5B and closed $1.3B in April 2026 across Eclipse Fund VI and Early Growth III, its largest raise to date. The firm's 2016 Series A into Cerebras returned roughly $2.5B at the $185 IPO price in May 2026 on a total of about $147M invested.
Eclipse portfolio companies have raised $15.9B in 2026 alone, including $1.2B for Wayve, $650M for True Anomaly, $270M for Bedrock Robotics, $220M for VulcanForms and $200M for Oxide. In September 2026, Eclipse incubation Noetive came out of stealth with a $41M seed led by the firm. Susan was named to the 2026 Forbes Midas List.
Lior Susan: https://www.linkedin.com/in/liorsusan/
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/fj9pHUbJhp4
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!
Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Lior Susan, Founder & CEO at Eclipse
(01:02) The story behind Eclipse
(02:35) How Lior met Pierre
(07:33) Why physical companies need operators
(12:35) How Mind Robotics was spun out of Rivian
(15:41) Why Lior started Eclipse
(18:21) Why building physical companies is so hard
(24:33) Inside Eclipse’s physical industry bet
(36:01) Building the "Eclipse Economy"
(40:08) Why physical infrastructure creates jobs
(41:19) From banana farmer to VC
(43:37) What it really means to support a portfolio company
(46:00) Who inspires Lior?
Brad Gerstner on the Largest Wealth Transfer to America’s Kids
Brad Gerstner, Founder of Invest America, on scaling Trump Accounts with Michael Dell:“We forecast that within the next 10 years, we will have $4 trillion in Trump Accounts.”“This is $4 trillion of wealth …
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Brad Gerstner, Founder of Invest America, on scaling Trump Accounts with Michael Dell:
“We forecast that within the next 10 years, we will have $4 trillion in Trump Accounts.”
“This is $4 trillion of wealth transfer to kids who would've otherwise had zero, who feel like they're totally out of the game.”
Stats:
› 70M U.S. kids under 18 is the goal
› $6.25B committed by Michael & Susan Dell to fund $250 investment account deposits for 25 million U.S. children aged 10 & under
› Up to $100M personally pledged by Brad for children in Indiana
› $4T in Trump Accounts within 10 years, Brad forecasts
› $1,000 federal seed for eligible newborns
Molly on X: https://x.com/MollySOSheaBrad Gerstner on X: https://x.com/altcapBrought to you by:Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel. As a Sourcery subscriber you get: 75,000 points after spending $3,000 on Brex card(s). Plus, white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, and access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → brex.com/sourceryFollow Sourcery for the latest updates! https://www.sourcery.vc/TIMESTAMPS:(00:00) Putting $150 Into a Trump Account
(02:53) How Trump Accounts Work
(03:08) Building Invest America
(03:25) Scaling From 9M to 70M Accounts
(03:43) Brad Gerstner & Michael Dell’s Contributions
(04:01) Forecasting $4T in Trump Accounts
(05:06) From Idea to Federal Law
(05:25) The “IPO” & Scaling to 70M Accounts
(06:31) Teaching 750K Kids Financial Literacy
(07:12) The Power of Compounding
(07:51) The Pushback on Trump Accounts
(08:07) Bipartisan Support
(08:47) Taking the Idea to President Trump
(09:21) “The Giving Pledge 2.0”
(10:22) Brad’s AI Safety Take
(10:40) Elon, Dario & Jensen on AI Risk
(11:14) A New Consensus on AI Safety
(11:31) China & AI Peer Review
(11:48) Finding the “Commonsensical Middle Way”
Bending Spoons is Eating Silicon Valley | CEO Luca Ferrari
Luca Ferrari, Co-Founder & CEO of Bending Spoons, sits down with Molly O’Shea at the company’s Milan headquarters for Part II of our Bending Spoons series, going deeper into the technology, culture and …
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Luca Ferrari, Co-Founder & CEO of Bending Spoons, sits down with Molly O’Shea at the company’s Milan headquarters for Part II of our Bending Spoons series, going deeper into the technology, culture and operating philosophy behind the company.
Luca takes us inside Bending Spoons’ centralized technology platform, including 50+ proprietary tools, 95% of code being written by AI, its internal Alt Spooner agents, and why he estimates the company is now 2–3X more productive. We also discuss the company’s extreme approach to talent, with 800,000 job applications in 2025 and fewer than 300 hires, alongside a culture built around extreme ownership, experimentation and truth-seeking.
We get into why Luca believes most people don't actually seek the truth, why Bending Spoons ran more than 3,000 experiments last year, the misconceptions around its business model, AI hype and valuations, the risks of underestimating increasingly capable AI systems, and how Luca thinks about building Bending Spoons for the decades ahead.
Luca Ferrari: https://x.com/luke10ferrari
Molly O’Shea: https://x.com/MollySOShea
Sourcery: https://x.com/sourceryy
𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/mCN1e_03I-c
𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Zone—develops next-generation data center campuses, partnering with AI companies, site developers and technology leaders to bring compute online faster and at scale. Visit: https://zonefrontier.com
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
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Disclosure
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𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Luca Ferrari, Co-Founder & CEO at Bending Spoons
(00:45) The deal that broke the Internet
(03:41) Why Silicon Valley overspends on Hype
(07:35) Half a billion monthly active users
(16:17) What makes a company worth buying
(20:07) Inside the platform powering every product
(32:16) Debunking the Private Equity comparison
(38:23) $4 Million in revenue, per employee
(43:44) The secret to zero churn
(47:40) The one value that defines Bending Spoons
(51:52) The AI tool every Spooner uses
(57:58) Going Independent from the AI labs
(59:02) Have we actually reached AGI?
(1:08:05) The AI question nobody's asking
(1:12:54) Luca's next big bet
Aqui estão os 40 episódios mais recentes de 221. Os mais antigos estão no feed do podcast.
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