Podcasts about chips act

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Episode S12E19 avec Aurélien, Sébastien S., et Xavier. Introduction (00:00:00) L'Europe revoit les ambitions du Chips Act à la hausse (00:01:55) : L'Europe dévoile le Chips Act 2.0 pour faire face à l'augmentation de la demandes de composants électroniques liés à l'I.A.(Sources : numerama.com, europa.eu et europa.eu) L'avènement du Steer by Wire (00:14:07) : Le steer by wire devient de série sur l'EQS.(Sources : auto-infos.fr et mercedes-benz.fr) Quand on dit non à l'IA (00:25:24) : Les étudiants qui huent, les sociétés qui coupent l'usage, les activistes qui trackent.(Sources : journaldemontreal.com, cybernews.com et techcrunch.com) Et si votre prochain ordinateur n'en était plus un ? (00:37:30) : Build 2026 : Microsoft annonce Project Solara.(Sources : frandroid.com et generation-nt.com) La science peut toujours nous surprendre (00:50:26) : Les lois de la thermodynamiques ne prédisent pas tout.(Sources : science-et-vie.com et youtube.com) Quand le dev piège l'IA (00:57:56) : Une attaque par injection dans une librairie open-source.(Sources : arstechnica.com et github.com)

L'Europe accélère sur les data centers, mais elle découvre aussi le prix énergétique de cette ambition. Selon les projections disponibles, la capacité des centres de données européens doit passer de 12 gigawatts en 2025 à 28 gigawatts d'ici 2030. Dans ce contexte, la Commission européenne a annoncé de nouvelles normes minimales de performance pour les installations, qu'elles soient nouvelles ou déjà existantes. L'objectif affiché est simple : encadrer un secteur devenu stratégique pour l'intelligence artificielle, le cloud et la souveraineté numérique. Mais un point sensible reste en suspens. Un label de durabilité, censé prendre en compte la consommation d'eau et l'approvisionnement en énergie propre, était attendu. Il n'a finalement pas été publié. En cause : un débat encore ouvert sur le traitement des data centers alimentés par de l'électricité nucléaire.Cette initiative s'inscrit dans un paquet plus large sur la souveraineté technologique européenne, qui comprend aussi un règlement sur le cloud et l'IA, ainsi qu'une révision du Chips Act, le texte destiné à renforcer la production de semi-conducteurs en Europe. Le cas irlandais montre l'urgence du sujet. En 2024, les data centers y ont consommé 22 % de toute l'électricité nationale, plus que l'ensemble des foyers urbains du pays. En août 2024, un troisième data center de Google a même été refusé dans le sud de Dublin, faute de capacité suffisante sur le réseau et d'énergie renouvelable disponible sur place.La pression ne concerne pas seulement l'Irlande. Des études citées par la Commission indiquent que la concentration rapide des data centers peut faire grimper les coûts de l'électricité de 20 à 40 % dans certaines zones européennes, notamment à Paris. En France, leur consommation électrique a déjà augmenté de 38 % en trois ans, avec une forte concentration en région parisienne. Le problème est clair : les normes annoncées améliorent l'efficacité des installations, mais elles ne disent pas encore qui paie la facture. Aucun mécanisme ne répartit aujourd'hui clairement le coût entre opérateurs numériques et consommateurs résidentiels. Alors que les projets d'usines IA géantes se multiplient, une question devient centrale : l'Europe peut-elle bâtir sa souveraineté numérique sans faire porter aux ménages le poids énergétique de cette course ? Hébergé par Acast. Visitez acast.com/privacy pour plus d'informations.

People have been so busy with AI data centers and surging memory prices that they forgot about the EU Chips Act. And to be honest, I did too until I traveled to Antwerp for ITF World 2026 and someone at the media session mentioned that a Chips Act 2 is coming. But second breakfast so soon? In December 2025, the EU Court of Auditors released its special report on the first Chips Act. A quick read of this and other recent events says that Europe's current chip policy must change. It is not working. In today's video, a brief check-in on the EU Chips Act.

People have been so busy with AI data centers and surging memory prices that they forgot about the EU Chips Act. And to be honest, I did too until I traveled to Antwerp for ITF World 2026 and someone at the media session mentioned that a Chips Act 2 is coming. But second breakfast so soon? In December 2025, the EU Court of Auditors released its special report on the first Chips Act. A quick read of this and other recent events says that Europe's current chip policy must change. It is not working. In today's video, a brief check-in on the EU Chips Act.

L'Europe relance la bataille pour sa souveraineté numérique face aux GAFAM • Le Parlement européen adopte Qwant comme moteur par défaut • L'IA affronte le droit d'auteur et Mistral monte au créneau • Anthropic relance le débat sur une pause mondiale de l'IA • SoftBank investit 75 milliards d'euros dans des data centers en France • Microsoft dévoile ses nouveaux modèles et ses agents autonomes ⭐️ Découvrez Frogans à Vivatech 2026

Chips Act 2.0 e Cloud and AI Development Act. La Commissione europea vara un pacchetto di norme con l’obiettivo di rafforzare la propria capacità industriale nei settori dei semiconduttori, dell'AI e del software open source per costruire una strategia industriale che le permetta di sganciarsi dalla dipendenza tecnologia (hardware e software) delle Big Tech extra UE. Ne parliamo con Innocenzo Genna, esperto di regolamentazione europea in ambito digitale.Sui computer del Parlamento europeo non sarà più Google il motore di ricerca predefinito, ma Qwant, sviluppato dall’omonima azienda francese e che offre maggiori garanzie agli utenti in termini di protezione dal tracciamento e raccolta dei dati personali. Ci spiega di più Simone Righini, esperto di search marketing.Alcuni giorni fa gli schermi di moltissimi Smart TV Samsung sono stati bloccati da un pop-up difficile da togliere e che chiedeva di inserire una serie di credenziali. Siamo di fronte ad un caso di phishing che sfrutta la piattaforma HbbTV, molto diffusa sui televisori anche in Italia? Ne parliamo con Gianfranco Giardina, direttore del magazine digitale Dday.it.E come sempre in Digital News le notizie di innovazione e tecnologia più importanti della settimana.

Wat zit er in De 7?De Europese Commissie adviseert ons land om het systeem van bedrijfssubsidies te hertekenen. Kwestie van het aandeel snelgroeiende bedrijven zoals scale-ups, op te krikken. Da's goed voor de begroting.Zalando wordt sponsor van de Rode Duivels. Onze expert legt uit wat dat zegt over de staat waarin de Duitse modewebwinkel zich bevindt.En Europa moet niet alleen autonomer worden voor chips, maar ook voor AI en cloud. De Europese Commissie presenteert naast de Chips Act 2 ook de Cloud and AI Development Act. Host: Bert RymenProductie: Joris VanderpoortenSee omnystudio.com/listener for privacy information.

De Europese Commissie wil dat Europa soevereiner wordt op het gebied van tech en heeft woensdag daarom een nieuw pakket met maatregelen gepresenteerd. Daarin staat onder andere dat de datacentercapaciteit in Europa verdrievoudigd moet worden en dat er een Chips Act 2.0 in het leven geroepen moet worden. Niels Kooloos vertelt erover in deze Tech Update. Bij de aankondiging van het pakket benadrukte Eurocommissaris Henna Virkunnen dat het pakket niet als protectionisme gezien moet worden. Het is vooral bedoeld om Europa minder afhankelijk te maken van Amerikaanse big tech en chips uit Azië, zodat bedrijven en overheden keuzevrijheid krijgen en niet op één of een klein aantal leveranciers van software en chips hoeven te vertrouwen. Wel is het zo dat overheden hun meest gevoelige data moeten gaan opslaan in cloudomgevingen van Europese aanbieders. Verder in deze Tech Update: Britse uitgevers kunnen ervoor kiezen om hun websites niet mee te laten nemen in de AI-samenvattingen en AI-modus van Google Search See omnystudio.com/listener for privacy information.

durée : 00:12:02 - Les Enjeux internationaux - par : Guillaume Erner - La Commission européenne dévoile aujourd'hui son Chips Act 2.0, destiné à relancer une industrie européenne des semi-conducteurs qui reste bloquée loin de l'objectif de 20 % en 2030. Pendant ce temps, Nvidia accélère la course mondiale aux puces IA. - réalisation : Félicie Faugère, Mathilde Thon-Fourcade - invités : Estelle Prin Experte indépendante sur l'industrie des semi-conducteurs, fondatrice de l'Observatoire des Semi-conducteurs Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

In Brussel presenteert de Europese Commissie morgen de EU Chips Act 2, een aangescherpte chipstrategie die de nadruk legt op vraag, leveringszekerheid en industrialisatie in Europa. EU-verslaggever Geert-Jan Hahn legt uit hoe Brussel strategische chipregio’s wil aanwijzen, de industriepolitiek wil opschroeven en tientallen miljarden euro’s wil steken in grote spelers, terwijl er in de EU discussie verwacht wordt over concurrentie, subsidies en de uitvoerbaarheid van de plannen. Donald Trump zegt een afspraak te hebben met Benjamin Netanyahu en Hezbollah om de raketaanvallen tussen Israël en Libanon te stoppen, maar over en weer worden nog steeds doelen bestookt. Volgens correspondent Ralf Dekkers in Israël biedt de deal ruimte voor voortzetting van het geweld, terwijl Iran dreigt zich in de strijd te mengen als Israël Beirut zou aanvallen en Netanyahu onder binnenlandse kritiek komt te staan omdat hij zich aan Trump moet conformeren. Het KNMI heeft een nieuwe graadmeter gelanceerd in hun app, de zogeheten hittekracht-index. Hiermee kan iemand precies zien hoe belastend de hitte kan zijn. Dat heeft namelijk met veel meer te maken dan alleen de temperatuur. Jet van Paassen van het KNMI legt uit waar dat precies door komt. Deze omschrijving is met AI gemaakt en gecontroleerd door een BNR-redacteur. Over deze podcast BNR Nieuws Vandaag is de podcast met daarin BNR Ochtendnieuws en BNR Avondnieuws. Je krijgt ’s ochtends vroeg en aan het einde van de werkdag in 20 minuten het belangrijkste nieuws van de dag. Abonneer je via bnr.nl/podcast/bnrnieuwsvandaag, de BNR-app, Spotify en Apple Podcasts. Of luister elke dag live via bnr.nl/live.See omnystudio.com/listener for privacy information.

In Brussel presenteert de Europese Commissie morgen de EU Chips Act 2, een aangescherpte chipstrategie die de nadruk legt op vraag, leveringszekerheid en industrialisatie in Europa. EU-verslaggever Geert-Jan Hahn legt uit hoe Brussel strategische chipregio’s wil aanwijzen, de industriepolitiek wil opschroeven en tientallen miljarden euro’s wil steken in grote spelers, terwijl er in de EU discussie verwacht wordt over concurrentie, subsidies en de uitvoerbaarheid van de plannen. Donald Trump zegt een afspraak te hebben met Benjamin Netanyahu en Hezbollah om de raketaanvallen tussen Israël en Libanon te stoppen, maar over en weer worden nog steeds doelen bestookt. Volgens correspondent Ralf Dekkers in Israël biedt de deal ruimte voor voortzetting van het geweld, terwijl Iran dreigt zich in de strijd te mengen als Israël Beirut zou aanvallen en Netanyahu onder binnenlandse kritiek komt te staan omdat hij zich aan Trump moet conformeren. Het KNMI heeft een nieuwe graadmeter gelanceerd in hun app, de zogeheten hittekracht-index. Hiermee kan iemand precies zien hoe belastend de hitte kan zijn. Dat heeft namelijk met veel meer te maken dan alleen de temperatuur. Jet van Paassen van het KNMI legt uit waar dat precies door komt. Deze omschrijving is met AI gemaakt en gecontroleerd door een BNR-redacteur. Over deze podcast BNR Nieuws Vandaag is de podcast met daarin BNR Ochtendnieuws en BNR Avondnieuws. Je krijgt ’s ochtends vroeg en aan het einde van de werkdag in 20 minuten het belangrijkste nieuws van de dag. Abonneer je via bnr.nl/podcast/bnrnieuwsvandaag, de BNR-app, Spotify en Apple Podcasts. Of luister elke dag live via bnr.nl/live.See omnystudio.com/listener for privacy information.

- CHIPS Act awards for Quantum Tech - IBM foundry for superconducting quantum - Global Foundries factory for various quantum modalities - NSF X-Labs, other initiatives - Emergence of what might be called a National Discovery Infrastructure - Cerebras IPO - IPO Mania: SpaceX, OpenAI, Anthropic - ~$650B: Just 4 hyperscalaers's announced AI investments for 2026 - Intel + Tenstorrent acquisition rumors and implications [audio mp3="https://orionx.net/wp-content/uploads/2026/05/HPCNB_20260525.mp3"][/audio] The post HPC News Bytes – 20260525 appeared first on OrionX.net.

EP 3-39 | Beyond the Fab: What It Really Takes to Build a Semiconductor Ecosystem ft. Jillian Sun,TCIP Semiconductor Policy Researcher, xMEMS Labs節目主持人 Uly Su 邀請曾在台灣資本市場深耕九年、後赴史丹佛商學院深造，現於柏克萊大學研究美國 CHIPS Act 政策的 Jillian Sun，從供應鏈結構出發，帶聽眾系統性地理解這個產業的全貌：從上游的 IP 授權、EDA 設計工具、設備製造商，到中游的晶圓代工廠，再到下游封裝測試，每個環節都是高度專業化、難以複製的知識積累。節目中，Jillian 以新竹科學園區為例，說明台灣半導體產業成功的關鍵不只是資金，而是供應鏈在地理上的高度集中——騎摩托車一小時內就能走完上下游——以及跨公司、跨領域人才高強度協作解決問題的文化。對照美國推動半導體回流的現況，她指出建廠成本約為亞洲的五倍，加上人才、法規、材料取得等結構性挑戰，美國真正的優勢或許在於軟體與 AI 驅動的 EDA 新創，以及即將到來的 Edge AI 與矽光子技術浪潮。Building a fab is just the beginning — the real challenge is building an ecosystem. In this episode, Uly Su sits down with Jillian Sun, a former Taiwan capital market specialist turned Stanford GSB graduate and Berkeley researcher studying the US semiconductor industry under the CHIPS Act. Jillian walks through the full semiconductor supply chain — from IP licensing and EDA design tools to foundries, advanced packaging, and manufacturing equipment — giving a clear-eyed picture of just how many layers of specialized knowledge hold this industry together.Drawing on Taiwan's Hsinchu Science Park as a reference point, Jillian explains why geographic density and deep cross-company collaboration are as important as capital investment — and why the US faces structural headwinds that go well beyond funding, from construction costs running roughly five times higher than Asia to permitting complexity and talent pipelines. Her view on where the US should focus: lean into its startup ecosystem, AI-accelerated EDA tooling, and the coming wave of edge AI and silicon photonics, rather than trying to replicate Asia's manufacturing base through sheer capital force.

From railroads to highways to broadband — every major infrastructure wave reshaped American wealth. Now, AI may be the next one.In this episode, The Norris Group and White Feather AI discuss how the explosive growth of AI is fueling unprecedented demand for compute power, energy systems, semiconductor manufacturing, and real estate development. We take a closer look at the markets seeing the biggest transformation and the early signals appearing before mainstream attention arrives.What we cover:• The three forces driving the buildout. Compute demand grows 4–10x per model generation. The power grid is being rebuilt from the ground up. And the CHIPS Act triggered the largest reshoring of semiconductor manufacturing in U.S. history. All three forces require physical land in specific American markets.• Where it's concentrating. Virginia and Texas lead, but 64% of capacity under construction is in frontier markets most investors haven't found — Indiana, Louisiana, West Texas, Wisconsin, Pennsylvania. We walk the map tier by tier and name the anchor projects.• What happens when a campus arrives. A 1 GW campus brings 1,500–2,000 construction workers to markets that weren't prepared. Data centers become the largest local taxpayers in many counties. Housing supply in most frontier markets is nowhere near ready.• Ground truth from the field. We've been inside one of these markets since before the crowd showed up, and we share what the early signals actually looked like on the ground.See How Smart Investors Make Decisions — Start Here

In this episode, we break down reports that OpenAI generated approximately $5.7 billion in Q1 revenue while its rival, Anthropic, targets nearly $11 billion in Q2 revenue and potential cash flow profitability, perhaps signaling a shift to operational scale in generative AI. The discussion also examines recent weakness following bitcoin's rally in May, including reports that Mark Cuban reduced his BTC exposure even as firms like Bitmine continue to accumulate. We also unpack SpaceX aborting its latest space launch while focused on its much-anticipated IPO. Finally, we cover the U.S. government's push into quantum computing through a new $2 billion CHIPS Act and how legacy Web2 leaders are evolving their core products and platform strategies amid growing pressure from AI-driven consumer behavior and evolving internet discovery models. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.

Vendredi 22 mai, le ratio entre les blessés et les morts sur les champs de bataille, l'enquête de la Chambre de Commerce et d'Industrie sur le moral des entrepreneurs français, la nouvelle version du CHIPS Act américain, ainsi que le bon classement de la France en matière des projets d'investissements internationaux, ont été abordés par nne-Sophie Alsif, cheffe économiste chez BDO France et professeur d'économie à la Sorbonne, Hervé Goulletquer, conseiller économique senior chez Accuracy, Léa Dunand-Chatellet, responsable de l'investissement responsable chez DNCA Finance, et Alain Pitous, senior advisor chez Ai for Alpha, reçus par Marc Fiorentino dans l'émission C'est Votre Argent sur BFM Business. Retrouvez l'émission le vendredi et réécoutez la en podcast.

For years, the United States told itself a reassuring story: China could manufacture and copy, but it couldn't innovate. That story is no longer credible. From DeepSeek's compute-efficient AI model to BYD's dominance of the global EV market, China is producing both volume and quality across sectors that matter. The question is no longer whether China can compete — it's whether the United States is playing its own hand well.In this episode of TechSurge, host Michael Marks speaks with Vivek Chilukuri, Senior Fellow at CNAS, where he focuses on U.S.–China technology competition, AI policy, and digital geopolitics. Vivek's path from counter-terrorism work at the State Department to tech policy in the Senate gives him an unusually grounded perspective on how government actually functions — and where it keeps failing itself.Vivek and Michael work through the full competitive landscape: the wake-up moments that shifted Washington's focus from manufacturing to technology dominance, why the dual-use nature of advanced technology has pulled the national security community into conversations once left to industry, and what Made in China 2025 actually achieved — and where it fell short.The conversation goes deep on America's policy toolkit: what the CHIPS Act accomplished and why it wasn't enough, how export controls on advanced semiconductors are working and what they're missing, and why Washington is far too weighted toward restriction at the expense of the "run faster" side of the equation. Vivek is also candid about what DeepSeek really tells us — not just about Chinese innovation, but about the gap between building a model and deploying AI at scale.They also explore the global dimension: China's "easy button" approach to technology exports, what the U.S. AI exports program is trying to do in response, the rise of "AI sovereignty" movements from Brussels to Delhi, and why the talent and immigration decisions of the past year amount to a serious self-inflicted wound.The United States still holds the best hand in the world for this competition. The question Vivek keeps returning to is whether we're playing it well — and right now, his honest answer is no.Sign up for our newsletter at techsurgepodcast.com for updates on upcoming TechSurge Live Summits and future Season 2 episodes.Episode Links:Connect with Vivek: https://www.linkedin.com/in/vivekchilukuri/Learn more about CNAS: https://www.cnas.orgTimestamps:[02:11] Wake-Up Calls: Chips & 5G[04:17] Atoms vs Bits in AI[07:27] China's Innovation Surge[10:57] Systems Capital vs Planning[14:14] Made in China 2025 Scorecard[17:23] US Tools: Chips & Controls[24:12] DeepSeek & Compute Scarcity[26:47] Energy Constraints & Scaling[29:01] AI Exports & the Easy Button[32:43] Allies & AI Sovereignty[36:13] Talent Flows & Immigration[39:04] Beyond AI: The Biotech Frontier[43:30] Founder Advice: Global South[45:20] Wrap-Up & Key Takeaways

SUMMARY DEL SHOW Los futuros operan con ligera presión mientras el mercado digiere otro trimestre récord de $NVDA. Los números fueron fuertes, pero la reacción es moderada porque las expectativas ya estaban en modo “perfección”. SpaceX presenta su IPO para cotizar como $SPCX y revela por primera vez sus finanzas. Starlink domina el negocio, Musk retiene el control de voto y no habrá dividendos. El sector cuántico se dispara por reportes de $2 Billones en subvenciones del CHIPS Act a jugadores como $IBM, $GFS, $RGTI, $IONQ y $QBTS, reforzando el ángulo de apuesta estratégica de EE. UU.

The recent US presidential trip to China was most interesting for what has not been said out loud. TSMC remains a lynchpin within this new world system emerging out of AI development.  Topics include: Ochelli dot com down, UAP video shot in Landers, Trump visit to China, Xi JInping, Iran War, Strait of Hormuz, tough guy Pentagon is for optics, CEO delegation, trade war shift, Taiwan as the lynchpin issue, ambiguity of US position on Taiwan, possibility of war, Jensen Huang, Nvidia, AI arms race, TSMC the one and only premiere fab in the world, failure/revocation of CHIPS Act, real powers in control of US, Technocracy, Elon Musk, Tesla business in China, MAGA's previous campaign ideologies hollow, internal strife in US benefits China, Global Propaganda Matrix, influence ops everywhere and from multitudinous sources, alt media and conspiracy narratives align with foreign influence ops, propaganda, reality of New World Order, US government being purposely being destroyed to be rebuilt, Putin's war in Ukraine, soft power plays

For thirty years, the United States largely ignored critical minerals. We mined less, processed less, and stockpiled less — while China quietly built the most dominant mineral supply chain in modern history. When China imposed rare earth export restrictions in 2024, manufacturers from Detroit to Tokyo scrambled. The invisible inputs powering electric vehicles, semiconductors, AI data centers, and defense systems had suddenly become visible — and vulnerable.In this episode of TechSurge, host Sriram Viswanathan speaks with Dr. Gracelin Baskaran, Director of the Critical Mineral Security Program at the Center for Strategic and International Studies. A mining economist with over a decade of field experience across Africa, Latin America, Asia, and the Middle East, Gracelin is one of the sharpest minds working on how the world secures the raw materials that make advanced technology possible.Gracelin brings a clarifying perspective to a topic that is often framed as a geopolitical contest: the real challenge, she argues, is economic. Until mining in allied countries is genuinely profitable — until the capital, energy infrastructure, processing technology, and policy stability are all in place — supply chain security remains aspirational, regardless of how many executive orders get signed.Sriram and Gracelin work through the full landscape: what critical minerals actually are and why the term matters, how China built its dominance not just through geology but through industrial strategy and foreign policy, and why the 29-year average timeline from mineral discovery to production creates a fundamental tension with the pace of technology investment. They examine the gap the CHIPS Act left unfilled, the case for aggregating allied demand to change the economics of new mines, and what tech CEOs are dangerously wrong to assume about their own supply chains.They also dig into the emerging policy architecture: Project Vault as a demand-driven civilian stockpile, the critical minerals ministerial that brought 55 countries to Washington, and the role of recycling and AI-driven exploration in accelerating a supply chain that cannot be built on mining alone.Ultimately, Gracelin argues that America's greatest advantage is not its geology — it is its capacity to innovate. But innovation without investment, and investment without durable policy, will not be enough. The window is open. The question is whether the commitment holds.If you enjoy this episode, please subscribe and leave us a review on your favorite podcast platform.Sign up for our newsletter at techsurgepodcast.com for updates on upcoming TechSurge Live Summits and future Season 2 episodes.Episode Links:Connect with Gracelin: https://www.linkedin.com/in/gracelinbaskaran/ Learn more about CSIS Critical Minerals Security Program: https://www.csis.org/programs/energy-security-and-climate-change-program/critical-minerals-securityTimestamps:[00:00] China's Rare Earth Wake-Up Call[02:57] The Origin Story Behind Gracelin[05:02] What “Critical Minerals” Actually Means[08:17] Saudi Arabia's Mineral Strategy Playbook[10:33] Why Economics Matters More Than Geology[13:54] Why New Mines Take Decades to Build[16:42] China's Supply Chain Dominance Explained[24:57] America's Workforce and Processing Problem[27:05] Innovation vs Scale in the Mineral Race[29:54] Can the US Rebuild Mineral Processing?[33:10] Startups, Capital, and the Mining Challenge[35:02] Belt and Road, Security, and Global Supply[41:19] The CHIPS Act's Missing Ingredient[46:21] The Policy Blueprint for Critical Minerals[51:59] Project Vault Explained[53:54] Rapid-Fire Takeaways and Final Reality Check

“The current crisis was far from inevitable. Politicians made consistently bad choices. In doing so, they fostered a crisis of confidence in political institutions, empowered anti-system candidates, and produced a new Cold War as dangerous as the last.” — Ian Shapiro The fall of the Berlin Wall in November 1989 was a moment of extraordinary euphoria. Fukuyama even described it as the end of history. But what seems to have really fallen in November '89 was the vitality of democracy. Almost forty years later, we have Donald Trump, Marine Le Pen, and, perhaps most worrying of all, Keir Starmer. Callous and inept politicians are breaking our democratic world. Our job is to put it back together. That's the thesis of a new book by Ian Shapiro — Sterling Professor of Political Science at Yale. In After the Fall, Shapiro argues that it's politicians who have created today's crisis of democracy. His pivotal moment is 2008 rather than 1989. The global financial crisis was the inflection point — the moment at which the corruption of the neoliberal order became self-evident, when elites bailed out the banks and we see the birth of left and right wing illiberal populism. The roots go back before 2008. Clinton's greatest failure, Shapiro argues, was not NAFTA or welfare reform. It was Russia. Yeltsin wanted to join NATO. Even Putin, in his early years in power, acknowledged that Russia considered itself European. George Kennan, Brent Scowcroft and Richard Nixon warned that expanding NATO eastward would create a new enemy. Clinton ignored them all. So history repeated itself in the form of Versailles rather than the Marshall Plan. So how to raise ourselves up after this fall? What road to take? Maps, Shapiro suggests, aren't always helpful. The New Deal had no GPS algorithm. FDR invented it on the fly. What democratic governments need now, he insists, is massive investment in physical, technological, and labor market infrastructure. Charismatic leaders matter. But the ideas matter more. We need politicians who take risks. Otherwise we'll be saddled with Keir Starmer and our current crisis of extraordinary dysphoria. Five Takeaways •       2008, Not 1989, Was the Inflection Point: The fall of the Wall in 1989 produced euphoria. The real break came nineteen years later. The 2008 financial crisis exposed the neoliberal model, undermined the supremacy of the US-led world system, and — crucially — left behind a large population that would subsequently be mobilizable by political entrepreneurs. Elites bailed out the banks and returned to business as usual. They didn't realize that business as usual was over. From 2008 you can draw a straight line to 2016, to Brexit, to Trump, to every anti-system surge that followed. •       We Repeated the Mistake of Versailles: After World War II, the Marshall Plan invested in the defeated powers — Germany, Japan — and folded them into the new security and economic architecture. After World War I, Versailles punished Germany, and Keynes predicted the results. After the Cold War, the victorious West chose Versailles over Marshall. Yeltsin wanted to join NATO and the EU. Even early Putin said Russia considered itself European. Kennan, Scowcroft, Nixon all warned that expanding NATO eastward would create a new enemy. Clinton ignored them. We created the enemy we warned ourselves about. •       Politicians Broke the World — Not Capitalism, Not Culture: Shapiro's subtitle is precise. The crisis of democracy was not caused by inevitable economic forces or cultural shifts. It was caused by specific bad decisions by specific politicians at specific moments of choice. Clinton on NATO expansion. Bush on the Iraq War and the refusal to build a genuine rules-based international order after 9/11. Obama on the financial crisis response. These were decisions, not fates. They could have been made differently. Which means the current situation is not irreversible — and that future decisions can be made better. •       Starmer as Exhibit A: Having Power Without Ideas: Shapiro's prescription for what democratic governments need: a policy agenda. His cautionary tale: Keir Starmer. Starmer came into office with a massive parliamentary majority — he could have passed legislation that attracted 50 or 60 backbench no votes and still won. He had nothing to pass. Tiny step left, tiny step right, reverse, repeat. His comparison: Trump's main policies came out of Project 2025 — put together not by Trump himself but by people who created the ramp he ran on. Without a ramp, even a charismatic leader stumbles. Without ideas, power is squandered. •       The New Deal Had No Blueprint: FDR Made It Up: The lesson for what comes next. The New Deal — the last great democratic reconstruction — was not designed in advance. Roosevelt made it up as he went along, trying things, abandoning what didn't work, building a coalition of extraordinarily unlikely bedfellows. What democratic governments need now, Shapiro argues, is massive infrastructure investment: physical infrastructure, tech infrastructure, labor market infrastructure. The CHIPS Act model. Incentivize business to retrain the workforce for the tech revolution and the green transition. Chancellor Merz in Germany has just borrowed half a trillion euros for this. Without it, there will be another Trump. And another. And another. About the Guest Ian Shapiro is Sterling Professor of Political Science and Global Affairs at Yale University and a member of the Council on Foreign Relations. He is the author of After the Fall: From the End of History to the Crisis of Democracy — How Politicians Broke Our World (Basic Books, May 5, 2026), Uncommon Sense, The Wolf at the Door (with Michael Graetz), and many other books. He lives in New Haven, Connecticut. References: •       After the Fall: From the End of History to the Crisis of Democracy — How Politicians Broke Our World by Ian Shapiro (Basic Books, May 5, 2026). •       Episode 2881: Adrian Wooldridge on The Revolutionary Center — the companion episode on the crisis of liberalism that Shapiro's book diagnoses. •       Episode 2895: Glyn Morgan on The Rise and Fall of American Europe — the international dimension of Shapiro's argument about the post-Cold War missed opportunities. •       Episode 2880: Gal Beckerman on How to Be a Dissident — on the tradition of resistance that Shapiro's “roads not taken” argument implicitly invokes. About Keen On America Nobody asks more awkward questions than th...

De Europese Commissie wil het huidige tekort aan geheugenchips en dergelijke aanpakken, door rechtstreeks te investeren in chipfabrieken middels een nieuw subsidiepakket: de Chips Act II. Maar, werd dat vijf jaar geleden niet óók al geprobeerd? En hoe moet dat nu ánders? Daarover hoor je Joe van Burik in deze Tech Update.See omnystudio.com/listener for privacy information.

Hegseth Struggles In The Hot Seat. Their King Is Better Than Our Wanna Be King. Dept Of War Name Change = $125m. Stabbing In Jewish Area In London. Idaho is in play. That's not spin from a party operative — that's the read on a state where 60% of voters identify as independent or independent-leaning, where a sitting senator is the fourth oldest and seventh richest in the chamber, and where a farm kid turned tank commander turned tech executive is running neck and neck with him among informed voters. Todd Achilles is the first 2026 endorsement from Independent Veterans of America, and on this episode of Independent Americans he lays out the no-BS case for why the rigged two-party system is finally cracking in places nobody expected. Paul Rieckhoff and Achilles get into the receipts: Jim Risch voting against the PACT Act and the CHIPS Act, a Senate Foreign Relations chair holding zero hearings on Iran or Cuba while the Pentagon books $25 billion in war costs and asks for a $1.5 trillion budget, and a $50 to $125 million bill just to rename the Department of Defense. They also dig into the human side — house parties with thirty-somethings who can't afford healthcare, 100+ town halls across all 44 Idaho counties, and a volunteer army built in an old restaurant turned campaign HQ. If you're in the angry middle and you've been waiting for proof that an independent veteran can actually win, this is your briefing. -WATCH full video of this episode here. -Support independent veteran Todd Achille's campaign for senate in Idaho. -Ditch your expensive carrier and support Independent Americans! Make the switch to Noble Mobile. -Join IVA and stand up to Trump's Forever Wars. -Learn more about Paul's work to elect a new generation of independent leaders with Independent Veterans of America. -Learn more about American Veterans for Ukraine here. -Get some of Maine's finest gear - check out Loyal Citizen. -Remember Independent is an Attitude. -Learn more about The Headstrong Project for Veterans, Tragedy Assistance Program for Survivors (TAPS), and Department of Veterans Affairs resources in your area. Seeking support is not a sign of weakness. It's a show of strength. If you or a loved one are in immediate crisis, dial 988 and press 1, or text 838255. Connect with Independent Americans: Subscribe on YouTube, Spotify, Apple Podcasts, and all podcast platforms Read more at Substack Support ad-free episodes at Patreon  Connect: Instagram  • X/Twitter • BlueSky • Facebook  Follow on social: @PaulRieckhoff on X, Instagram, Threads, and Bluesky -Join the movement. Hook into our exclusive Patreon community of Independent Americans. Get extra content, connect with guests, meet other Independent Americans, attend events, get merch discounts, and support this show that speaks truth to power.  -And get cool IA and Righteous hats, t-shirts and other merch now in time for the new year.  Independent Americans is powered by veteran-owned and led Righteous Media.  And now part of the BLEAV network!  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today's Poll Question at Smerconish.com: "On a scale of 1 to 10, rate the Biden presidency." Michael invites listeners to render a retrospective judgment on Joe Biden's time in office, as a new scholarly book offers the first historical assessment of his presidency. With discussion of legislative wins like the CHIPS Act and infrastructure bill, alongside challenges including inflation, Afghanistan, and border policy, the episode explores how timing, perception, and political aftermath shape legacy. Drawing on polling data and historical context, Smerconish asks whether Biden's final chapter altered the way his presidency will be remembered—and how you would score it today. Listen here, then vote at Smerconish.com, and please rate, review and share this podcast. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

OpenAI Smartphone Rumors, Charter's Stock Plunge, Intel–Tesla Foundry Boost, Direct-to-Device Satellite Benchmarks, Verizon's Q1 Net Adds, and a Socorro AI Data Center DebateThe 6G Podcast hosts discuss rumors that OpenAI may build a smartphone with Qualcomm and MediaTek, potentially launching around 2027 and enabling tighter OS-level AI integration than Android or iOS. They review Q1 telecom earnings, highlighting Charter's nearly 25% stock drop after losing over 100,000 broadband customers and adding fewer mobile lines than expected, sparking M&A speculation including a possible Verizon or T-Mobile bid and a rumored Deutsche Telekom move to fully acquire T-Mobile. They cover Intel's earnings surge and Tesla naming Intel's 14A node for “Terra Fab,” framed as a CHIPS Act-aligned U.S. manufacturing milestone relevant to 6G supply chains. The episode also summarizes a new direct-to-device satellite report showing about 0.5%–1% monthly unique usage across tracked countries, and Verizon's Q1 return to positive postpaid phone net adds, alongside discussion of an AI data center proposal in Socorro, New Mexico and local opposition over power and water concerns.00:00 Welcome to Six G00:21 OpenAI Phone Rumors03:21 AI OS and Ecosystem05:35 Smartphone Market Shakeups06:00 Telecom Earnings Shock07:05 Charter Selloff Fallout08:01 M&A Rumors Heat Up09:48 Cable vs Fiber Reality13:25 Intel and Tesla Surge19:00 Direct to Device Satellites21:27 Satellite Use vs Density23:28 UK Scan Rate Insights24:08 Hajj Network Challenges26:01 Verizon Q1 Turnaround30:19 Fixed Wireless Limits32:31 Socorro Data Center Debate36:47 Data Centers Case by Case40:16 Wrap Up and Subscribe

On Monday's Mark Levin Show, it's a huge mistake if a possible U.S. offer includes a 10-year moratorium on Iranian uranium enrichment. If true, President Trump should walk away from these terms. We should just finish of the Iranian regime right now because we'll never have this opportunity again.  Also, members of Congress and others are now openly campaigning with Nazis, jihadists, and Marxists which should concern everyone. Democrats like Rep Ro Khanna, who align with figures like Hassan Piker, stand with Iran, Hamas, and Hezbollah. This reflects a broader Democrat alignment against America and Israel.  Meanwhile, Khanna achieved a 143% return on Nvidia stock purchased by his wife through a family trust worth tens of millions. The timing coincided with the federal CHIPS Act, which more than doubled Nvidia's share price. There should be a criminal investigation and House Ethics Committee review on this. Later, Alan Dershowitz calls in and announces that he's becoming a Republican because the Democratic Party has become the most anti-Israel party in U.S. history, with some extremists veering toward anti-Semitism. Dershowitz says he is determined to do everything possible to prevent Democrats from gaining control of the House, Senate, or presidency in three years.  Finally, Republicans in Virginia need to get out and vote no for redistricting. Failure to turn out will result in losing your congressional voice, with national implications for control of the House, as Democrats seek to choose representatives for Republicans nationwide. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Live from the 2026 NABTU Legislative Conference in Washington, D.C., NABTU President Sean McGarvey joins the America's Work Force Union Podcast. McGarvey breaks down the landmark NABTU-OpenAI partnership, the record-shattering growth of union apprenticeships, and his urgent call for a bipartisan federal plan to protect workers from AI-driven displacement. As thousands of building trades leaders descend on the nation's capital, the mission is clear: ensure the workers who build the future aren't left behind by it. On today's episode of the America's Work Force Union Podcast, host Ed “Flash” Ferenc sits down with Sean McGarvey, President of the North America's Building Trades Unions (NABTU), for an unfiltered look at the state of the industry in 2026. McGarvey discusses the critical intersection of labor and technology, including: The OpenAI Partnership: A deep dive into the $500 billion infrastructure commitment and how it places union crafts at the center of the AI revolution. A "Rite of Spring" in D.C.: The goals of the 2026 NABTU Legislative Conference and why bipartisan engagement remains the union's strongest tool. The Apprenticeship Boom: Why 300,000+ workers are currently in the pipeline and how NABTU added 47,000 net new members in 2025 alone. Infrastructure at a Crossroads: A candid look at why projects funded by the CHIPS Act and IRA are stalling—and how the building trades are fighting back in the courts. The Missing Federal Plan: Why McGarvey is demanding a long-range, bipartisan strategy to support and transition workers displaced by artificial intelligence. "The physical work of building, maintaining, and powering AI infrastructure cannot be automated away... but the transition for the broader workforce needs a plan from the government, and it needs it now." — Sean McGarvey Connect with AWF: Website: awf.labortools.com Follow us: Be sure to subscribe for daily interviews with the leaders and activists building worker power across America.

“We keep getting wake-up calls and snoozing the alarm. Now is the time to actually get out of bed and confront this problem before it is too late.” — Eyck Freymann Forget Iran for a moment. The Hormuz crisis is a template for the bigger crisis of Taiwan. Eyck Freymann — Hoover Fellow at Stanford, author of the brand-new Defending Taiwan: A Strategy to Prevent War with China — believes that the fate of the 21st century may hinge on Taiwan. And he warns that if America can't handle Iran, it's certainly not ready for Beijing. Freymann argues that China doesn't need to invade Taiwan. Xi Jinping has watched Putin discover — with horror — what happens when you send unprepared forces into a country that fights back. China's lesson from Ukraine is a strategy of quarantine rather than invasion. The United States will then face a choice between accepting Chinese checkmate or escalating a crisis with no domestic or international support. Taiwan produces 90% of the world's advanced semiconductors and 99% of the cutting-edge NVIDIA GPUs used to train frontier AI models. If those chip factories shut, there will be an instantaneous global financial crisis. Forget today's Iranian theater. Taiwan will be the real existential show. Five Takeaways •       The Hormuz Alarm Bell: Iran has no navy, no air force, and supposedly no ballistic missile arsenal anymore — and yet it took 20% of global oil supply offline. The Trump administration went in thinking overwhelming military superiority would translate to political victory. It hasn't. Strategy, Freymann says, is the art of connecting ends to means. If you don't know your ends, you'll flail. China is watching every mistake: no plan for the economic shock, no domestic legitimacy for the war, excess pain falling on oil-importing US allies like Japan, South Korea, and Europe. Beijing's conclusion: we don't have to pick a military fight with the United States. Why would we? •       The Semiconductor Chokehold: Taiwan produces 90% of the world's advanced semiconductors and 99% of the cutting-edge NVIDIA GPUs used to train frontier AI models. The CHIPS Act has tried to change this. It hasn't. The Arizona facility is two generations behind Taiwan, commercially uncompetitive, and unable to scale. Taiwan is five years ahead now and will be five years ahead in five years. If the Taiwan fabs go offline, there is an instantaneous global financial crisis: the seven companies that account for roughly 40% of the S&P 500 are all essentially the AI trade. The hyperscalers are spending $600 billion in data centers this year — the only thing keeping the US economy out of recession. This is what's at stake, before you even get to the military question. •       The Quarantine: Winning Without Fighting: Xi Jinping's plan A is not invasion. It's the quarantine: seize control of who and what comes and goes to Taiwan by declaring that anyone flying to Taipei must first clear customs in Shanghai. Impound a United Airlines flight. Let the ambiguity do the work. If China can do that and get away with it, Taiwan can't rebuild its military, the US can't send more weapons, and Beijing controls the chips. It's checkmate — without a shot fired. The United States then has to accept it, or escalate in a way that has no domestic legitimacy and drives wedges between Washington and its allies. China has figured out how to extort the West with prolonged economic pain. The alarm bells keep ringing. America keeps snoozing. •       What a Taiwan War Would Actually Look Like: It would be a war at sea — fundamentally unlike anything America has fought or prepared for in eighty years. China would need to simultaneously control the skies, the undersea, and the surface on all sides of the Taiwan Strait, then send tens of thousands of men 80 miles across in amphibious vessels to storm beaches in a Normandy-style assault. The first engagements would be decided in minutes to hours by long-range precision munitions. America's operational capabilities are exceptional: the cyber assassinations, the special forces raid, the continuous bomber sorties from the continental United States. But China has home-field advantage. And it has been building systematically for this scenario for years. We could probably win if we fought today. We need to make investments for tomorrow. •       The Four-Pillar Strategy: Freymann's integrated answer: diplomacy, military deterrence, economic resilience, and allied coordination — all working together, not in separate silos. On diplomacy: maintain the principled position that Taiwan's status must be resolved peacefully and democratically. On military: show China it can't win if it escalates to war, while keeping conventional forces credible. On economics: build enough allied resilience that authoritarian powers can't extort the West by threatening prolonged economic pain. On allies: coordinate with Japan, South Korea, the Europeans on a shared plan for what happens if things collapse. This is doable. It's been done for fifty years. We just need the resolve to keep doing it. About the Guest Eyck Freymann is a Hoover Fellow at Stanford University and a Non-Resident Research Fellow at the US Naval War College's China Maritime Studies Institute. He is the author of Defending Taiwan: A Strategy to Prevent War with China (Oxford University Press, 2026), The Arsenal of Democracy: Technology, Industry, and Deterrence in an Age of Hard Choices (Hoover, 2025), and One Belt One Road: Chinese Power Meets the World (Harvard, 2021). References: •       Defending Taiwan: A Strategy to Prevent War with China by Eyck Freymann (Oxford University Press, 2026). •       “The Strait of Hormuz as a Template for Taiwan,” Financial Times, April 2026. By Eyck Freymann. •       Episode 2862: Truth Is Dead — on AI, disinformation, and American strategic confusion. About Keen On America Nobody asks more awkward questions than the Anglo-American writer and filmmaker Andrew Keen. In Keen On America, Andrew brings his pointed Transatlantic wit to making sense of the United States — hosting daily interviews about the history and future of this now venerable Republic. With nearly 2,800 episodes since the show launched on TechCrunch in 2010, Keen On America is the most prolific intellectual interview show in the history of podcasting. WebsiteSubstackYouTubeApple PodcastsSpotify 

In this episode, former Commerce Secretary Gina Raimondo discusses her view that European industry is being hollowed out by China and that the only path forward is a unified global trading bloc excluding China—an idea she said is being thwarted by the Trump administration. The episode also covers the legacy of the CHIPS Act and Raimondo's fears that artificial intelligence could create mass unemployment and destabilize democracy. Host: Joe Weisenthal, Odd Lots Co-host, Bloomberg   Host: Tracy Alloway, Odd Lots Co-host, Bloomberg   Guest: Gina M. Raimondo, Distinguished Fellow, Council on Foreign Relations; Former U.S. Secretary of Commerce   Want more comprehensive analysis of global news and events sent straight to your inbox? Subscribe to CFR's Daily News Brief newsletter. To keep tabs on all CFR events, visit cfr.org/event. To watch this event, please visit it on our YouTube channel: U.S.-China Relations and the Global Economy

“His ultimate failure is not simply losing. It's his failure to stop Trumpism from being such a dominant force in America.” — Julian ZelizerOn this Easter Sunday, can we resurrect Joe Biden's reputation? Perhaps not — according to Julian Zelizer, the Princeton historian and editor of The Presidency of Joseph R. Biden, a collection of essays about the historical significance of the Biden Presidency.Zelizer argues that Biden's legislative record was more robust than most Americans remember — climate investments, semiconductor plants, diversity integrated into government programmes. Rather than policy, the problem was the politics. Biden didn't build a coalition that would last long enough for his ambitious programmes to mature. He is the last of an era: a New Deal Democrat who believed in big government, that the Republicans could be brought back to the centre, that politics could still work the way it used to. Joe Biden promised to save the soul of America from the Charlottesville moment. Instead, his administration was bookended by a President who saw “good people” on both sides of the Charlottesville neo-Nazi violence.Zelizer makes an unusual comparison: Biden as Barry Goldwater. Goldwater lost catastrophically in 1964. Decades later, his anti-New Deal ideas colonised the modern Republican Party. Zelizer suggests that Biden's domestic agenda — affordability, industrial policy, bringing jobs home — may follow the same trajectory. Victory on the heels of defeat. A resurrection of sorts. Maybe not such a tragedy after all. Five Takeaways•       Biden May Be the Last New Deal President: He is a product of mid-twentieth-century Democratic politics — big government, big federal programs, the belief that Washington can help middle-class Americans. His formative period was the era of LBJ and the Great Society. The next round of Democrats will not make his mistakes. The style of politics he represents may be over.•       His Legislative Record Was More Robust Than Anyone Remembers: Climate investments, semiconductor plants, diversity integrated into government programs, jobs brought back to the United States. The problem wasn't that the programmes were broken. The problem was political: he didn't build a coalition that would last long enough for them to mature. Even the New Deal wasn't up and running within a year.•       He Promised to Save the Soul of America. He Couldn't: Biden's candidacy was a response to the neo-Nazi rally in Charlottesville. His promise was that Trumpism would not be at the centre of American power. His ultimate failure is not simply losing. It's that his administration is followed by a much more radical Trump Two that undoes everything he put on the books and goes further.•       Biden as Barry Goldwater: Goldwater lost by one of the worst margins on record in 1964. Decades later, his ideas were at the core of the modern Republican Party. Zelizer argues Biden's domestic agenda — affordability, industrial policy, semiconductor investment — may follow the same trajectory. The ideas may outlast the man.•       Bookended by Trump: There is no way to talk about Biden without talking about Trump. His candidacy was about what he was not going to allow to define America. The fact that he is followed by a more radical and destructive second Trump administration will always be at the centre of the conversation. Trump is the defining voice of this entire period. About the GuestJulian Zelizer is a professor of history and public affairs at Princeton University. He is the author of Burning Down the House: Newt Gingrich and the Rise of the New Republican Party and editor of the presidential assessment series including volumes on Bush, Obama, Trump, and Biden.References:•       The Presidency of Joseph R. Biden: A First Historical Assessment edited by Julian Zelizer — the book under discussion.•       Episode 2859: Stop, Don't Do That — Peter Edelman on Bobby Kennedy. The progressive populism Biden couldn't resurrect.About Keen On AmericaNobody asks more awkward questions than the Anglo-American writer and filmmaker Andrew Keen. In Keen On America, Andrew brings his pointed Transatlantic wit to making sense of the United States — hosting daily interviews about the history and future of this now venerable Republic. With nearly 2,800 episodes since the show launched on TechCrunch in 2010, Keen On America is the most prolific intellectual interview show in the history of podcasting.WebsiteSubstackYouTubeApple PodcastsSpotify Chapters:(00:31) - Introduction: Easter Sunday and the resurrection of Joseph R. Biden (02:21) - Zhou Enlai and Kissinger: is it too early to tell? (04:34) - The historians were eager to participate (06:16) - A traditional president analysed in a traditional format (07:20) - Divided We Stand: Newt Gingrich and the pathetic quality of the Democrats (09:48) - Gramsci's interregnum: frozen between the past and the future (11:35) - The soul of America: Biden's promise and ultimate failure (14:18) - An unlikely person: plagiarism, alliances with segregationists, and luck (16:04) - Lincoln's widow at the theatre: why did anyone fancy this guy? (18:54) - No ideological coherence: the compromise candidate (21:13) - The CHIPS Act looked great on paper (23:38) - Who was running the show? (25:30) - The debate: clearly at best out to lunch (28:26) - Biden as Barry Goldwater: ideas that outlast the man (30:38) - Kamala Harris and backward momentum for female candidates (34:38) - Foreign policy: the irony of his supposed strength (38:25) - The Hoover comparison: the end of a chapter in American history  

During President Trump's second term, the administration has taken unprecedented action in the US private sector. The federal government's investments in critical mineral mining and chip manufacturing are two examples. The Trump administration has also embraced tariffs, framing them as tools for economic security and a domestic industrial revival. This shift toward state intervention into private markets, done in the name of national security and economic security, has some bipartisan support. It also has major implications for energy security and the clean energy transition. So how can this new form of American state capitalism be conceptualized? Is the Trump administration's use of these tools different from prior US government programs to support critical industries, like the Biden-era investments under the CHIPS Act? And what are the best strategies for aligning industrial policy with goals around energy security, supply chain resilience, and innovation? Today on the show, Jason Bordoff speaks with Daleep Singh about how the US deploys economic statecraft and the need for a framework to guide its use. Daleep Singh is vice chair and chief global economist at asset management firm PGIM and a thought leader on global policy and macroeconomic trends. He first joined PGIM in 2022, before serving the Biden administration as deputy national security advisor for international economics and deputy director of the National Economic Council. Earlier in his career, he held roles at the New York Federal Reserve and the US Treasury Department. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.  

If you had told Jan a year ago she would bring a member of Congress onto this show, she would have said you were crazy.But this isn't about politics.It's about survival.It's about supply chains, tariffs, China, semiconductors, and the reality that policy decisions now move faster than most production lines.In this episode of the Automotive Leaders Podcast, Jan Griffiths sits down with Congresswoman Haley Stevens, often called the “manufacturing geek,” for a direct conversation about industrial policy, public-private partnership, national security, and what automotive leaders should expect from Washington.Whether we like it or not, policy volatility is now a leadership variable.Themes Discussed in this EpisodeWhy Manufacturing Mondays keep policymakers grounded in shop-floor realityLessons from the 2008–2009 auto rescue and bipartisan public-private partnershipThe Chips and Science Act and reshoring semiconductor productionChina's 95% dominance in rare earth processing and why it mattersCritical minerals, battery recycling, and national competitivenessTariff volatility and the cost of policy uncertaintyUSMCA review, Canada relationships, and North American stabilityThe Chinese OEM threat and rule-based trade enforcementWhat automotive leaders can expect from policymakers moving forward

We're here for a CHIPS Act megapod, in person with Mike Schmidt and Todd Fisher, the director and founding CIO of the CHIPS Program Office, respectively. We discuss… The mechanisms behind the success of the CHIPS Act, What CHIPS can teach us about other industrial policy challenges, like APIs and rare earths, What it takes to build a successful industrial policy implementation team, How the fear of “another Solyndra” is holding back US industrial policy, Chris Miller's recent interest in revitalizing America's chemical industry. This post is a collaboration with the Factory Settings Substack: https://www.factorysettings.org/. Subscribe for more insights from former CHIPS Program Office leaders! Suno song link: https://suno.com/s/wwVYK10LfrAD5zK2 Learn more about your ad choices. Visit megaphone.fm/adchoices

We're here for a CHIPS Act megapod, in person with Mike Schmidt and Todd Fisher, the director and founding CIO of the CHIPS Program Office, respectively. We discuss… The mechanisms behind the success of the CHIPS Act, What CHIPS can teach us about other industrial policy challenges, like APIs and rare earths, What it takes to build a successful industrial policy implementation team, How the fear of “another Solyndra” is holding back US industrial policy, Chris Miller's recent interest in revitalizing America's chemical industry. This post is a collaboration with the Factory Settings Substack: https://www.factorysettings.org/. Subscribe for more insights from former CHIPS Program Office leaders! Suno song link: https://suno.com/s/wwVYK10LfrAD5zK2 Learn more about your ad choices. Visit megaphone.fm/adchoices

Infrastructure was passé…uncool. Difficult to get dollars from Private Equity and Growth funds, and almost impossible to get a VC fund interested. Now?! Now, it's cool. Infrastructure seems to be having a Renaissance, a full on Rebirth, not just fueled by commercial interests (e.g. advent of AI), but also by industrial policy and geopolitical considerations. In this episode of Tech Deciphered, we explore what's cool in the infrastructure spaces, including mega trends in semiconductors, energy, networking & connectivity, manufacturing Navigation: Intro We're back to building things Why now: the 5 forces behind the renaissance Semiconductors: compute is the new oil Networking & connectivity: digital highways get rebuilt Energy: rebuilding the power stack (not just renewables) Manufacturing: the return of “atoms + bits” Wrap: what it means for startups, incumbents, and investors Conclusion Our co-hosts: Bertrand Schmitt, Entrepreneur in Residence at Red River West, co-founder of App Annie / Data.ai, business angel, advisor to startups and VC funds, @bschmitt Nuno Goncalves Pedro, Investor, Managing Partner, Founder at Chamaeleon, @ngpedro Our show: Tech DECIPHERED brings you the Entrepreneur and Investor views on Big Tech, VC and Start-up news, opinion pieces and research. We decipher their meaning, and add inside knowledge and context. Being nerds, we also discuss the latest gadgets and pop culture news Subscribe To Our Podcast Nuno Gonçalves Pedro Introduction Welcome to episode 73 of Tech Deciphered, Infrastructure, the Rebirth or Renaissance. Infrastructure was passé, it wasn’t cool, but all of a sudden now everyone’s talking about network, talking about compute and semiconductors, talking about logistics, talking about energy. What gives? What’s happened? It was impossible in the past to get any funds, venture capital, even, to be honest, some private equity funds or growth funds interested in some of these areas, but now all of a sudden everyone thinks it’s cool. The infrastructure seems to be having a renaissance, a full-on rebirth. In this episode, we will explore in which cool ways the infrastructure spaces are moving and what’s leading to it. We will deep dive into the forces that are leading us to this. We will deep dive into semiconductors, networking and connectivity, energy, manufacturing, and then we’ll wrap up. Bertrand, so infrastructure is cool now. Bertrand Schmitt We're back to building things Yes. I thought software was going to eat the world. I cannot believe it was then, maybe even 15 years ago, from Andreessen, that quote about software eating the world. I guess it’s an eternal balance. Sometimes you go ahead of yourself, you build a lot of software stack, and at some point, you need the hardware to run this software stack, and there is only so much the bits can do in a world of atoms. Nuno Gonçalves Pedro Obviously, we’ve gone through some of this before. I think what we’re going through right now is AI is eating the world, and because AI is eating the world, it’s driving a lot of this infrastructure building that we need. We don’t have enough energy to be consumed by all these big data centers and hyperscalers. We need to be innovative around network as well because of the consumption in terms of network bandwidth that is linked to that consumption as well. In some ways, it’s not software eating the world, AI is eating the world. Because AI is eating the world, we need to rethink everything around infrastructure and infrastructure becoming cool again. Bertrand Schmitt There is something deeper in this. It’s that the past 10, even 15 years were all about SaaS before AI. SaaS, interestingly enough, was very energy-efficient. When I say SaaS, I mean cloud computing at large. What I mean by energy-efficient is that actually cloud computing help make energy use more efficient because instead of companies having their own separate data centers in many locations, sometimes poorly run from an industrial perspective, replace their own privately run data center with data center run by the super scalers, the hyperscalers of the world. These data centers were run much better in terms of how you manage the coolings, the energy efficiency, the rack density, all of this stuff. Actually, the cloud revolution didn’t increase the use of electricity. The cloud revolution was actually a replacement from your private data center to the hyperscaler data center, which was energy efficient. That’s why we didn’t, even if we are always talking about that growth of cloud computing, we were never feeling the pinch in term of electricity. As you say, we say it all changed because with AI, it was not a simple “Replacement” of locally run infrastructure to a hyperscaler run infrastructure. It was truly adding on top of an existing infrastructure, a new computing infrastructure in a way out of nowhere. Not just any computing infrastructure, an energy infrastructure that was really, really voracious in term of energy use. Nuno Gonçalves Pedro There was one other effect. Obviously, we’ve discussed before, we are in a bubble. We won’t go too much into that today. But the previous big bubble in tech, which is in the late ’90s, there was a lot of infrastructure built. We thought the internet was going to take over back then. It didn’t take over immediately, but there was a lot of network connectivity, bandwidth built back in the day. Companies imploded because of that as well, or had to restructure and go in their chapter 11. A lot of the big telco companies had their own issues back then, etc., but a lot of infrastructure was built back then for this advent of the internet, which would then take a long time to come. In some ways, to your point, there was a lot of latent supply that was built that was around that for a while wasn’t used, but then it was. Now it’s been used, and now we need new stuff. That’s why I feel now we’re having the new moment of infrastructure, new moment of moving forward, aligned a little bit with what you just said around cloud computing and the advent of SaaS, but also around the fact that we had a lot of buildup back in the late ’90s, early ’90s, which we’re now still reaping the benefits on in today’s world. Bertrand Schmitt Yeah, that’s actually a great point because what was built in the late ’90s, there was a lot of fibre that was built. Laying out the fibre either across countries, inside countries. This fibre, interestingly enough, you could just change the computing on both sides of the fibre, the routing, the modems, and upgrade the capacity of the fibre. But the fibre was the same in between. The big investment, CapEx investment, was really lying down that fibre, but then you could really upgrade easily. Even if both ends of the fibre were either using very old infrastructure from the ’90s or were actually dark and not being put to use, step by step, it was being put to use, equipment was replaced, and step by step, you could keep using more and more of this fibre. It was a very interesting development, as you say, because it could be expanded over the years, where if we talk about GPUs, use for AI, GPUs, the interesting part is actually it’s totally the opposite. After a few years, it’s useless. Some like Google, will argue that they can depreciate over 5, 6 years, even some GPUs. But at the end of the day, the difference in perf and energy efficiency of the GPUs means that if you are energy constrained, you just want to replace the old one even as young as three-year-old. You have to look at Nvidia increasing spec, generation after generation. It’s pretty insane. It’s usually at least 3X year over year in term of performance. Nuno Gonçalves Pedro At this moment in time, it’s very clear that it’s happening. Why now: the 5 forces behind the renaissance Maybe let’s deep dive into why it’s happening now. What are the key forces around this? We’ve identified, I think, five forces that are particularly vital that lead to the world we’re in right now. One we’ve already talked about, which is AI, the demand shock and everything that’s happened because of AI. Data centers drive power demand, drive grid upgrades, drive innovative ways of getting energy, drive chips, drive networking, drive cooling, drive manufacturing, drive all the things that we’re going to talk in just a bit. One second element that we could probably highlight in terms of the forces that are behind this is obviously where we are in terms of cost curves around technology. Obviously, a lot of things are becoming much cheaper. The simulation of physical behaviours has become a lot more cheap, which in itself, this becomes almost a vicious cycle in of itself, then drives the adoption of more and more AI and stuff. But anyway, the simulation is becoming more and more accessible, so you can do a lot of simulation with digital twins and other things off the real world before you go into the real world. Robotics itself is becoming, obviously, cheaper. Hardware, a lot of the hardware is becoming cheaper. Computer has become cheaper as well. Obviously, there’s a lot of cost curves that have aligned that, and that’s maybe the second force that I would highlight. Obviously, funds are catching up. We’ll leave that a little bit to the end. We’ll do a wrap-up and talk a little bit about the implications to investors. But there’s a lot of capital out there, some capital related to industrial policy, other capital related to private initiative, private equity, growth funds, even venture capital, to be honest, and a few other elements on that. That would be a third force that I would highlight. Bertrand Schmitt Yes. Interestingly enough, in terms of capital use, and we’ll talk more about this, but some firms, if we are talking about energy investment, it was very difficult to invest if you are not investing in green energy. Now I think more and more firms and banks are willing to invest or support different type of energy infrastructure, not just, “Green energy.” That’s an interesting development because at some point it became near impossible to invest more in gas development, in oil development in the US or in most Western countries. At least in the US, this is dramatically changing the framework. Nuno Gonçalves Pedro Maybe to add the two last forces that I think we see behind the renaissance of what’s happening in infrastructure. They go hand in hand. One is the geopolitics of the world right now. Obviously, the world was global flat, and now it’s becoming increasingly siloed, so people are playing it to their own interests. There’s a lot of replication of infrastructure as well because people want to be autonomous, and they want to drive their own ability to serve end consumers, businesses, etc., in terms of data centers and everything else. That ability has led to things like, for example, chips shortage. The fact that there are semiconductors, there are shortages across the board, like memory shortages, where everything is packed up until 2027 of 2028. A lot of the memory that was being produced is already spoken for, which is shocking. There’s obviously generation of supply chain fragilities, obviously, some of it because of policies, for example, in the US with tariffs, etc, security of energy, etc. Then the last force directly linked to the geopolitics is the opposite of it, which is the policy as an accelerant, so to speak, as something that is accelerating development, where because of those silos, individual countries, as part their industrial policy, then want to put capital behind their local ecosystems, their local companies, so that their local companies and their local systems are for sure the winners, or at least, at the very least, serve their own local markets. I think that’s true of a lot of the things we’re seeing, for example, in the US with the Chips Act, for semiconductors, with IGA, IRA, and other elements of what we’ve seen in terms of practices, policies that have been implemented even in Europe, China, and other parts of the world. Bertrand Schmitt Talking about chips shortages, it’s pretty insane what has been happening with memory. Just the past few weeks, I have seen a close to 3X increase in price in memory prices in a matter of weeks. Apparently, it started with a huge order from OpenAI. Apparently, they have tried to corner the memory market. Interestingly enough, it has flat-footed the entire industry, and that includes Google, that includes Microsoft. There are rumours of their teams now having moved to South Korea, so they are closer to the action in terms of memory factories and memory decision-making. There are rumours of execs who got fired because they didn’t prepare for this type of eventuality or didn’t lock in some of the supply chain because that memory was initially for AI, but obviously, it impacts everything because factories making memories, you have to plan years in advance to build memories. You cannot open new lines of manufacturing like this. All factories that are going to open, we know when they are going to open because they’ve been built up for years. There is no extra capacity suddenly. At the very best, you can change a bit your line of production from one type of memory to another type. But that’s probably about it. Nuno Gonçalves Pedro Just to be clear, all these transformations we’re seeing isn’t to say just hardware is back, right? It’s not just hardware. There’s physicality. The buildings are coming back, right? It’s full stack. Software is here. That’s why everything is happening. Policy is here. Finance is here. It’s a little bit like the name of the movie, right? Everything everywhere all at once. Everything’s happening. It was in some ways driven by the upper stacks, by the app layers, by the platform layers. But now we need new infrastructure. We need more infrastructure. We need it very, very quickly. We need it today. We’re already lacking in it. Semiconductors: compute is the new oil Maybe that’s a good segue into the first piece of the whole infrastructure thing that’s driving now the most valuable company in the world, NVIDIA, which is semiconductors. Semiconductors are driving compute. Semis are the foundation of infrastructure as a compute. Everyone needs it for every thing, for every activity, not just for compute, but even for sensors, for actuators, everything else. That’s the beginning of it all. Semiconductor is one of the key pieces around the infrastructure stack that’s being built at scale at this moment in time. Bertrand Schmitt Yes. What’s interesting is that if we look at the market gap of Semis versus software as a service, cloud companies, there has been a widening gap the past year. I forgot the exact numbers, but we were talking about plus 20, 25% for Semis in term of market gap and minus 5, minus 10 for SaaS companies. That’s another trend that’s happening. Why is this happening? One, because semiconductors are core to the AI build-up, you cannot go around without them. But two, it’s also raising a lot of questions about the durability of the SaaS, a software-as-a-service business model. Because if suddenly we have better AI, and that’s all everyone is talking about to justify the investment in AI, that it keeps getting better, and it keeps improving, and it’s going to replace your engineers, your software engineers. Then maybe all of this moat that software companies built up over the years or decades, sometimes, might unravel under the pressure of newly coded, newly built, cheaper alternatives built from the ground up with AI support. It’s not just that, yes, semiconductors are doing great. It’s also as a result of that AI underlying trend that software is doing worse right now. Nuno Gonçalves Pedro At the end of the day, this foundational piece of infrastructure, semiconductor, is obviously getting manifest to many things, fabrication, manufacturing, packaging, materials, equipment. Everything’s being driven, ASML, etc. There are all these different players around the world that are having skyrocket valuations now, it’s because they’re all part of the value chain. Just to be very, very clear, there’s two elements of this that I think are very important for us to remember at this point in time. One, it’s the entire value chains are being shifted. It’s not just the chips that basically lead to computing in the strict sense of it. It’s like chips, for example, that drive, for example, network switching. We’re going to talk about networking a bit, but you need chips to drive better network switching. That’s getting revolutionised as well. For example, we have an investment in that space, a company called the eridu.ai, and they’re revolutionising one of the pieces around that stack. Second part of the puzzle, so obviously, besides the holistic view of the world that’s changing in terms of value change, the second piece of the puzzle is, as we discussed before, there’s industrial policy. We already mentioned the CHIPS Act, which is something, for example, that has been done in the US, which I think is 52 billion in incentives across a variety of things, grants, loans, and other mechanisms to incentivise players to scale capacity quick and to scale capacity locally in the US. One of the effects of that now is obviously we had the TSMC, US expansion with a factory here in the US. We have other levels of expansion going on with Intel, Samsung, and others that are happening as we speak. Again, it’s this two by two. It’s market forces that drive the need for fundamental shifts in the value chain. On the other industrial policy and actual money put forward by states, by governments, by entities that want to revolutionise their own local markets. Bertrand Schmitt Yes. When you talk about networking, it makes me think about what NVIDIA did more than six years ago when they acquired Mellanox. At the time, it was largest acquisition for NVIDIA in 2019, and it was networking for the data center. Not networking across data center, but inside the data center, and basically making sure that your GPUs, the different computers, can talk as fast as possible between each of them. I think that’s one piece of the puzzle that a lot of companies are missing, by the way, about NVIDIA is that they are truly providing full systems. They are not just providing a GPU. Some of their competitors are just providing GPUs. But NVIDIA can provide you the full rack. Now, they move to liquid-cool computing as well. They design their systems with liquid cooling in mind. They have a very different approach in the industry. It’s a systematic system-level approach to how do you optimize your data center. Quite frankly, that’s a bit hard to beat. Nuno Gonçalves Pedro For those listening, you’d be like, this is all very different. Semiconductors, networking, energy, manufacturing, this is all different. Then all of a sudden, as Bertrand is saying, well, there are some players that are acting across the stack. Then you see in the same sentence, you’re talking about nuclear power in Microsoft or nuclear power in Google, and you’re like, what happened? Why are these guys in the same sentence? It’s like they’re tech companies. Why are they talking about energy? It’s the nature of that. These ecosystems need to go hand in hand. The value chains are very deep. For you to actually reap the benefits of more and more, for example, semiconductor availability, you have to have better and better networking connectivity, and you have to have more and more energy at lower and lower costs, and all of that. All these things are intrinsically linked. That’s why you see all these big tech companies working across stack, NVIDIA being a great example of that in trying to create truly a systems approach to the world, as Bertrand was mentioning. Networking & connectivity: digital highways get rebuilt On the networking and connectivity side, as we said, we had a lot of fibre that was put down, etc, but there’s still more build-out needs to be done. 5G in terms of its densification is still happening. We’re now starting to talk, obviously, about 6G. I’m not sure most telcos are very happy about that because they just have been doing all this CapEx and all this deployment into 5G, and now people already started talking about 6G and what’s next. Obviously, data center interconnect is quite important, and all the hubbing that needs to happen around data centers is very, very important. We are seeing a lot movements around connectivity that are particularly important. Network gear and the emergence of players like Broadcom in terms of the semiconductor side of the fence, obviously, Cisco, Juniper, Arista, and others that are very much present in this space. As I said, we made an investment on the semiconductor side of networking as well, realizing that there’s still a lot of bottlenecks happening there. But obviously, the networking and connectivity stack still needs to be built at all levels within the data centers, outside of the data centers in terms of last mile, across the board in terms of fibre. We’re seeing a lot of movements still around the space. It’s what connects everything. At the end of the day, if there’s too much latency in these systems, if the bandwidths are not high enough, then we’re going to have huge bottlenecks that are going to be put at the table by a networking providers. Obviously, that doesn’t help anyone. If there’s a button like anywhere, it doesn’t work. All of this doesn’t work. Bertrand Schmitt Yes. Interestingly enough, I know we said for this episode, we not talk too much about space, but when you talk about 6G, it make me think about, of course, Starlink. That’s really your last mile delivery that’s being built as well. It’s a massive investment. We’re talking about thousands of satellites that are interconnected between each other through laser system. This is changing dramatically how companies can operate, how individuals can operate. For companies, you can have great connectivity from anywhere in the world. For military, it’s the same. For individuals, suddenly, you won’t have dead space, wide zones. This is also a part of changing how we could do things. It’s quite important even in the development of AI because, yes, you can have AI at the edge, but that interconnect to the rest of the system is quite critical. Having that availability of a network link, high-quality network link from anywhere is a great combo. Nuno Gonçalves Pedro Then you start seeing regions of the world that want to differentiate to attract digital nomads by saying, “We have submarine cables that come and hub through us, and therefore, our connectivity is amazing.” I was just in Madeira, and they were talking about that in Portugal. One of the islands of Portugal. We have some Marine cables. You have great connectivity. We’re getting into that discussion where people are like, I don’t care. I mean, I don’t know. I assume I have decent connectivity. People actually care about decent connectivity. This discussion is not just happening at corporate level, at enterprise level? Etc. Even consumers, even people that want to work remotely or be based somewhere else in the world. It’s like, This is important Where is there a great connectivity for me so that I can have access to the services I need? Etc. Everyone becomes aware of everything. We had a cloud flare mishap more recently that the CEO had to jump online and explain deeply, technically and deeply, what happened. Because we’re in their heads. If Cloudflare goes down, there’s a lot of websites that don’t work. All of this, I think, is now becoming du jour rather than just an afterthought. Maybe we’ll think about that in the future. Bertrand Schmitt Totally. I think your life is being changed for network connectivity, so life of individuals, companies. I mean, everything. Look at airlines and ships and cruise ships. Now is the advent of satellite connectivity. It’s dramatically changing our experience. Nuno Gonçalves Pedro Indeed. Energy: rebuilding the power stack (not just renewables) Moving maybe to energy. We’ve talked about energy quite a bit in the past. Maybe we start with the one that we didn’t talk as much, although we did mention it, which was, let’s call it the fossil infrastructure, what’s happening around there. Everyone was saying, it’s all going to be renewables and green. We’ve had a shift of power, geopolitics. Honestly, I the writing was on the wall that we needed a lot more energy creation. It wasn’t either or. We needed other sources to be as efficient as possible. Obviously, we see a lot of work happening around there that many would have thought, Well, all this infrastructure doesn’t matter anymore. Now we’re seeing LNG terminals, pipelines, petrochemical capacity being pushed up, a lot of stuff happening around markets in terms of export, and not only around export, but also around overall distribution and increases and improvements so that there’s less leakage, distribution of energy, etc. In some ways, people say, it’s controversial, but it’s like we don’t have enough energy to spare. We’re already behind, so we need as much as we can. We need to figure out the way to really extract as much as we can from even natural resources, which In many people’s mind, it’s almost like blasphemous to talk about, but it is where we are. Obviously, there’s a lot of renaissance also happening on the fossil infrastructure basis, so to speak. Bertrand Schmitt Personally, I’m ecstatic that there is a renaissance going regarding what is called fossil infrastructure. Oil and gas, it’s critical to humanity well-being. You never had growth of countries without energy growth and nothing else can come close. Nuclear could come close, but it takes decades to deploy. I think it’s great. It’s great for developed economies so that they do better, they can expand faster. It’s great for third-world countries who have no realistic other choice. I really don’t know what happened the past 10, 15 years and why this was suddenly blasphemous. But I’m glad that, strangely, thanks to AI, we are back to a more rational mindset about energy and making sure we get efficient energy where we can. Obviously, nuclear is getting a second act. Nuno Gonçalves Pedro I know you would be. We’ve been talking about for a long time, and you’ve been talking about it in particular for a very long time. Bertrand Schmitt Yes, definitely. It’s been one area of interest of mine for 25 years. I don’t know. I’ve been shocked about what happened in Europe, that willingness destruction of energy infrastructure, especially in Germany. Just a few months ago, they keep destroying on live TV some nuclear station in perfect working condition and replacing them with coal. I’m not sure there is a better definition of insanity at this stage. It looks like it’s only the Germans going that hardcore for some reason, but at least the French have stopped their program of decommissioning. America, it seems to be doing the same, so it’s great. On top of it, there are new generations that could be put to use. The Chinese are building up a very large nuclear reactor program, more than 100 reactors in construction for the next 10 years. I think everybody has to catch up because at some point, this is the most efficient energy solution. Especially if you don’t build crazy constraints around the construction of these nuclear reactors. If we are rational about permits, about energy, about safety, there are great things we could be doing with nuclear. That might be one of the only solution if we want to be competitive, because when energy prices go down like crazy, like in China, they will do once they have reach delivery of their significant build-up of nuclear reactors, we better be ready to have similar options from a cost perspective. Nuno Gonçalves Pedro From the outside, at the very least, nuclear seems to be probably in the energy one of the areas that’s more being innovated at this moment in time. You have startups in the space, you have a lot really money going into it, not just your classic industrial development. That’s very exciting. Moving maybe to the carbonization and what’s happening. The CCUS, and for those who don’t know what it is, carbon capture, utilization, and storage. There’s a lot of stuff happening around that space. That’s the area that deals with the ability to capture CO₂ emissions from industrial sources and/or the atmosphere and preventing their release. There’s a lot of things happening in that space. There’s also a lot of things happening around hydrogen and geothermal and really creating the ability to storage or to store, rather, energy that then can be put back into the grids at the right time. There’s a lot of interesting pieces happening around this. There’s some startup movement in the space. It’s been a long time coming, the reuse of a lot of these industrial sources. Not sure it’s as much on the news as nuclear, and oil and gas, but certainly there’s a lot of exciting things happening there. Bertrand Schmitt I’m a bit more dubious here, but I think geothermal makes sense if it’s available at reasonable price. I don’t think hydrogen technology has proven its value. Concerning carbon capture, I’m not sure how much it’s really going to provide in terms of energy needs, but why not? Nuno Gonçalves Pedro Fuels niche, again, from the outside, we’re not energy experts, but certainly, there are movements in the space. We’ll see what’s happening. One area where there’s definitely a lot of movement is this notion of grid and storage. On the one hand, that transmission needs to be built out. It needs to be better. We’ve had issues of blackouts in the US. We’ve had issues of blackouts all around the world, almost. Portugal as well, for a significant part of the time. The ability to work around transmission lines, transformers, substations, the modernization of some of this infrastructure, and the move forward of it is pretty critical. But at the other end, there’s the edge. Then, on the edge, you have the ability to store. We should have, better mechanisms to store energy that are less leaky in terms of energy storage. Obviously, there’s a lot of movement around that. Some of it driven just by commercial stuff, like Tesla a lot with their storage stuff, etc. Some of it really driven at scale by energy players that have the interest that, for example, some of the storage starts happening closer to the consumption as well. But there’s a lot of exciting things happening in that space, and that is a transformative space. In some ways, the bottleneck of energy is also around transmission and then ultimately the access to energy by homes, by businesses, by industries, etc. Bertrand Schmitt I would say some of the blackout are truly man-made. If I pick on California, for instance. That’s the logical conclusion of the regulatory system in place in California. On one side, you limit price that energy supplier can sell. The utility company can sell, too. On the other side, you force them to decommission the most energy-efficient and least expensive energy source. That means you cap the revenues, you make the cost increase. What is the result? The result is you cannot invest anymore to support a grid and to support transmission. That’s 100% obvious. That’s what happened, at least in many places. The solution is stop crazy regulations that makes no economic sense whatsoever. Then, strangely enough, you can invest again in transmission, in maintenance, and all I love this stuff. Maybe another piece, if we pick in California, if you authorize building construction in areas where fires are easy, that’s also a very costly to support from utility perspective, because then you are creating more risk. You are forced buy the state to connect these new constructions to the grid. You have more maintenance. If it fails, you can create fire. If you create fire, you have to pay billions of fees. I just want to highlight that some of this is not a technological issue, is not per se an investment issue, but it’s simply the result of very bad regulations. I hope that some will learn, and some change will be made so that utilities can do their job better. Nuno Gonçalves Pedro Then last, but not the least, on the energy side, energy is becoming more and more digitally defined in some ways. It’s like the analogy to networks that they’ve become more, and more software defined, where you have, at the edge is things like smart meters. There’s a lot of things you can do around the key elements of the business model, like dynamic pricing and other elements. Demand response, one of the areas that I invested in, I invest in a company called Omconnect that’s now merged with what used to be Google Nest. Where to deploy that ability to do demand response and also pass it to consumers so that consumers can reduce their consumption at times where is the least price effective or the less green or the less good for the energy companies to produce energy. We have other things that are happening, which are interesting. Obviously, we have a lot more electric vehicles in cars, etc. These are also elements of storage. They don’t look like elements of storage, but the car has electricity in it once you charge it. Once it’s charged, what do you do with it? Could you do something else? Like the whole reverse charging piece that we also see now today in mobile devices and other edge devices, so to speak. That also changes the architecture of what we’re seeing around the space. With AI, there’s a lot of elements that change around the value chain. The ability to do forecasting, the ability to have, for example, virtual power plans because of just designated storage out there, etc. Interesting times happening. Not sure all utilities around the world, all energy providers around the world are innovating at the same pace and in the same way. But certainly just looking at the industry and talking to a lot of players that are CEOs of some of these companies. That are leading innovation for some of these companies, there’s definitely a lot more happening now in the last few years than maybe over the last few decades. Very exciting times. Bertrand Schmitt I think there are two interesting points in what you say. Talking about EVs, for instance, a Cybertruck is able to send electricity back to your home if your home is able to receive electricity from that source. Usually, you have some changes to make to the meter system, to your panel. That’s one great way to potentially use your car battery. Another piece of the puzzle is that, strangely enough, most strangely enough, there has been a big push to EV, but at the same time, there has not been a push to provide more electricity. But if you replace cars that use gasoline by electric vehicles that use electricity, you need to deliver more electricity. It doesn’t require a PhD to get that. But, strangely enough, nothing was done. Nuno Gonçalves Pedro Apparently, it does. Bertrand Schmitt I remember that study in France where they say that, if people were all to switch to EV, we will need 10 more nuclear reactors just on the way from Paris to Nice to the Côte d’Azur, the French Rivière, in order to provide electricity to the cars going there during the summer vacation. But I mean, guess what? No nuclear plant is being built along the way. Good luck charging your vehicles. I think that’s another limit that has been happening to the grid is more electric vehicles that require charging when the related infrastructure has not been upgraded to support more. Actually, it has quite the opposite. In many cases, we had situation of nuclear reactors closing down, so other facilities closing down. Obviously, the end result is an increase in price of electricity, at least in some states and countries that have not sold that fully out. Nuno Gonçalves Pedro Manufacturing: the return of “atoms + bits” Moving to manufacturing and what’s happening around manufacturing, manufacturing technology. There’s maybe the case to be made that manufacturing is getting replatformed, right? It’s getting redefined. Some of it is very obvious, and it’s already been ongoing for a couple of decades, which is the advent of and more and more either robotic augmented factories or just fully roboticized factories, where there’s very little presence of human beings. There’s elements of that. There’s the element of software definition on top of it, like simulation. A lot of automation is going on. A lot of AI has been applied to some lines in terms of vision, safety. We have an investment in a company called Sauter Analytics that is very focused on that from the perspective of employees and when they’re still humans in the loop, so to speak, and the ability to really figure out when people are at risk and other elements of what’s happening occurring from that. But there’s more than that. There’s a little bit of a renaissance in and of itself. Factories are, initially, if we go back a couple of decades ago, factories were, and manufacturing was very much defined from the setup. Now it’s difficult to innovate, it’s difficult to shift the line, it’s difficult to change how things are done in the line. With the advent of new factories that have less legacy, that have more flexible systems, not only in terms of software, but also in terms of hardware and robotics, it allows us to, for example, change and shift lines much more easily to different functions, which will hopefully, over time, not only reduce dramatically the cost of production. But also increase dramatically the yield, it increases dramatically the production itself. A lot of cool stuff happening in that space. Bertrand Schmitt It’s exciting to see that. One thing this current administration in the US has been betting on is not just hoping for construction renaissance. Especially on the factory side, up of factories, but their mindset was two things. One, should I force more companies to build locally because it would be cheaper? Two, increase output and supply of energy so that running factories here in the US would be cheaper than anywhere else. Maybe not cheaper than China, but certainly we get is cheaper than Europe. But three, it’s also the belief that thanks to AI, we will be able to have more efficient factories. There is always that question, do Americans to still keep making clothes, for instance, in factories. That used to be the case maybe 50 years ago, but this move to China, this move to Bangladesh, this move to different places. That’s not the goal. But it can make sense that indeed there is ability, thanks to robots and AI, to have more automated factories, and these factories could be run more efficiently, and as a result, it would be priced-competitive, even if run in the US. When you want to think about it, that has been, for instance, the South Korean playbook. More automated factories, robotics, all of this, because that was the only way to compete against China, which has a near infinite or used to have a near infinite supply of cheaper labour. I think that all of this combined can make a lot of sense. In a way, it’s probably creating a perfect storm. Maybe another piece of the puzzle this administration has been working on pretty hard is simplifying all the permitting process. Because a big chunk of the problem is that if your permitting is very complex, very expensive, what take two years to build become four years, five years, 10 years. The investment mass is not the same in that situation. I think that’s a very important part of the puzzle. It’s use this opportunity to reduce regulatory state, make sure that things are more efficient. Also, things are less at risk of bribery and fraud because all these regulations, there might be ways around. I think it’s quite critical to really be careful about this. Maybe last piece of the puzzle is the way accounting works. There are new rules now in 2026 in the US where you can fully depreciate your CapEx much faster than before. That’s a big win for manufacturing in the US. Suddenly, you can depreciate much faster some of your CapEx investment in manufacturing. Nuno Gonçalves Pedro Just going back to a point you made and then moving it forward, even China, with being now probably the country in the world with the highest rate of innovation and take up of industrial robots. Because of demographic issues a little bit what led Japan the first place to be one of the real big innovators around robots in general. The fact that demographics, you’re having an aging population, less and less children. How are you going to replace all these people? Moving that into big winners, who becomes a big winner in a space where manufacturing is fundamentally changing? Obviously, there’s the big four of robots, which is ABB, FANUC, KUKA, and Yaskawa. Epson, I think, is now in there, although it’s not considered one of the big four. Kawasaki, Denso, Universal Robots. There’s a really big robotics, industrial robotic companies in the space from different origins, FANUC and Yaskawa, and Epson from Japan, KUKA from Germany, ABB from Switzerland, Sweden. A lot of now emerging companies from China, and what’s happening in that space is quite interesting. On the other hand, also, other winners will include players that will be integrators that will build some of the rest of the infrastructure that goes into manufacturing, the Siemens of the world, the Schneider’s, the Rockwell’s that will lead to fundamental industrial automation. Some big winners in there that whose names are well known, so probably not a huge amount of surprises there. There’s movements. As I said, we’re still going to see the big Chinese players emerging in the world. There are startups that are innovating around a lot of the edges that are significant in this space. We’ll see if this is a space that will just be continued to be dominated by the big foreign robotics and by a couple of others and by the big integrators or not. Bertrand Schmitt I think you are right to remind about China because China has been moving very fast in robotics. Some Chinese companies are world-class in their use of robotics. You have this strange mix of some older industries where robotics might not be so much put to use and typically state-owned, versus some private companies, typically some tech companies that are reconverting into hardware in some situation. That went all in terms of robotics use and their demonstrations, an example of what’s happening in China. Definitely, the Chinese are not resting. Everyone smart enough is playing that game from the Americans, the Chinese, Japanese, the South Koreans. Nuno Gonçalves Pedro Exciting things are manufacturing, and maybe to bring it all together, what does it mean for all the big players out there? If we talk with startups and talk about startups, we didn’t mention a ton of startups today, right? Maybe incumbent wind across the board. But on a more serious note, we did mention a few. For example, in nuclear energy, there’s a lot of startups that have been, some of them, incredibly well-funded at this moment in time. Wrap: what it means for startups, incumbents, and investors There might be some big disruptions that will come out of startups, for example, in that space. On the chipset side, we talked about the big gorillas, the NVIDIAs, AMDs, Intel, etc., of the world. But we didn’t quite talk about the fact that there’s a lot of innovation, again, happening on the edges with new players going after very large niches, be it in networking and switching. Be it in compute and other areas that will need different, more specialized solutions. Potentially in terms of compute or in terms of semiconductor deployments. I think there’s still some opportunities there, maybe not to be the winner takes all thing, but certainly around a lot of very significant niches that might grow very fast. Manufacturing, we mentioned the same. Some of the incumbents seem to be in the driving seat. We’ll see what happens if some startups will come in and take some of the momentum there, probably less likely. There are spaces where the value chains are very tightly built around the OEMs and then the suppliers overall, classically the tier one suppliers across value chains. Maybe there is some startup investment play. We certainly have played in the couple of the spaces. I mentioned already some of them today, but this is maybe where the incumbents have it all to lose. It’s more for them to lose rather than for the startups to win just because of the scale of what needs to be done and what needs to be deployed. Bertrand Schmitt I know. That’s interesting point. I think some players in energy production, for instance, are moving very fast and behaving not only like startups. Usually, it’s independent energy suppliers who are not kept by too much regulations that get moved faster. Utility companies, as we just discussed, have more constraints. I would like to say that if you take semiconductor space, there has been quite a lot of startup activities way more than usual, and there have been some incredible success. Just a few weeks ago, Rock got more or less acquired. Now, you have to play games. It’s not an outright acquisition, but $20 billion for an IP licensing agreement that’s close to an acquisition. That’s an incredible success for a company. Started maybe 10 years ago. You have another Cerebras, one of the competitor valued, I believe, quite a lot in similar range. I think there is definitely some activity. It’s definitely a different game compared to your software startup in terms of investment. But as we have seen with AI in general, the need for investment might be larger these days. Yes, it might be either traditional players if they can move fast enough, to be frank, because some of them, when you have decades of being run as a slow-moving company, it’s hard to change things. At the same time, it looks like VCs are getting bigger. Wall Street is getting more ready to finance some of these companies. I think there will be opportunities for startups, but definitely different types of startups in terms of profile. Nuno Gonçalves Pedro Exactly. From an investor standpoint, I think on the VC side, at least our core belief is that it’s more niche. It’s more around big niches that need to be fundamentally disrupted or solutions that require fundamental interoperability and integration where the incumbents have no motivation to do it. Things that are a little bit more either packaging on the semiconductor side or other elements of actual interoperability. Even at the software layer side that feeds into infrastructure. If you’re a growth investor, a private equity investor, there’s other plays that are available to you. A lot of these projects need to be funded and need to be scaled. Now we’re seeing projects being funded even for a very large, we mentioned it in one of the previous episodes, for a very large tech companies. When Meta, for example, is going to the market to get funding for data centers, etc. There’s projects to be funded there because just the quantum and scale of some of these projects, either because of financial interest for specifically the tech companies or for other reasons, but they need to be funded by the market. There’s other place right now, certainly if you’re a larger private equity growth investor, and you want to come into the market and do projects. Even public-private financing is now available for a lot of things. Definitely, there’s a lot of things emanating that require a lot of funding, even for large-scale projects. Which means the advent of some of these projects and where realization is hopefully more of a given than in other circumstances, because there’s actual commercial capital behind it and private capital behind it to fuel it as well, not just industrial policy and money from governments. Bertrand Schmitt There was this quite incredible stat. I guess everyone heard about that incredible growth in GDP in Q3 in the US at 4.4%. Apparently, half of that growth, so around 2.2% point, has been coming from AI and related infrastructure investment. That’s pretty massive. Half of your GDP growth coming from something that was not there three years ago or there, but not at this intensity of investment. That’s the numbers we are talking about. I’m hearing that there is a good chance that in 2026, we’re talking about five, even potentially 6% GDP growth. Again, half of it potentially coming from AI and all the related infrastructure growth that’s coming with AI. As a conclusion for this episode on infrastructure, as we just said, it’s not just AI, it’s a whole stack, and it’s manufacturing in general as well. Definitely in the US, in China, there is a lot going on. As we have seen, computing needs connectivity, networks, need power, energy and grid, and all of this needs production capacity and manufacturing. Manufacturing can benefit from AI as well. That way the loop is fully going back on itself. Infrastructure is the next big thing. It’s an opportunity, probably more for incumbents, but certainly, as usual, with such big growth opportunities for startups as well. Thank you, Nuno. Nuno Gonçalves Pedro Thank you, Bertrand.

Chuck Eesley, a professor of management science and engineering, studies entrepreneurship across diverse contexts – from refugee entrepreneurs in Uganda to semiconductor startups navigating U.S.-China economic policy. His research on recent export controls revealed a counterintuitive outcome: Rather than solely strengthening U.S. semiconductor innovation, these policies accelerated Chinese investment in its own domestic chip industry, boosting startups there as much as – or more than – here. This finding underscores how global technology markets are deeply interconnected: Barriers can produce unintended consequences that accelerate innovation abroad rather than protecting it at home. Open technology trade and investment create larger markets for American innovations, strengthen collaborative partnerships, and demonstrate that interconnected markets drive progress for all participants. “Entrepreneurial talent exists everywhere,” Eesley tells host Russ Altman on this episode of Stanford Engineering's The Future of Everything podcast.Have a question for Russ? Send it our way in writing or via voice memo, and it might be featured on an upcoming episode. Please introduce yourself, let us know where you're listening from, and share your question. You can send questions to thefutureofeverything@stanford.edu.Episode Reference Links:Stanford Profile: Charles (Chuck) EesleyConnect With Us:Episode Transcripts >>> The Future of Everything WebsiteConnect with Russ >>> Threads / Bluesky / MastodonConnect with School of Engineering >>> Twitter/X / Instagram / LinkedIn / FacebookChapters:(00:00:00) IntroductionRuss Altman introduces guest Chuck Eesley, a professor of management and engineering at Stanford University.(00:03:04) Why Study Entrepreneurship?Chuck explains why entrepreneurs are drivers of modern economic growth.(00:03:30) Defining EntrepreneurshipBroad vs. narrow entrepreneurship, from startups to large organizations.(00:04:33) Institutional EnvironmentsHow policies and culture both shape entrepreneurial outcomes.(00:05:44) Studying Institutions & EntrepreneurshipMeasuring ​institutional shifts to isolate entrepreneurial outcomes.(00:08:12) Founder & Talent IncentivesWhat's needed for high-opportunity-cost talent to start companies.(00:09:36) AI EntrepreneurshipThe impact of data and compute concentration on startup dynamism.(00:11:28) Designing AI RegulationHistorical examples of regulation enabling startups to compete fairly.(00:13:43) Incentives Inside Big TechWhy some incumbents support startups while others tilt the playing field.(00:15:28) Ad Placement & Misinformation FundingHow digital advertising can unintentionally fund low-credibility content.(00:21:24) Misinformation Market SolutionThe disclosure mechanisms that may reduce misinformation incentives.(00:25:23) Semiconductors & EntrepreneurshipThe importance of startups in a field often dominated by large incumbents.(00:29:30) Unintended Policy EffectsHow U.S. policy may be accelerating Chinese semiconductor investments.(00:31:09) Competing Industrial PoliciesWhy evaluation and iteration are essential for effective policy design.(00:32:31) Global EntrepreneurshipEmerging entrepreneurship models spreading across regions and contexts.(00:36:26) The Universal Entrepreneurial MindsetShared entrepreneurial traits across cultures, contexts, and countries.(00:37:14) Future In a MinuteRapid-fire Q&A: democratizing entrepreneurship, context, and equitable inclusivity.(00:41:02) Conclusion Connect With Us:Episode Transcripts >>> The Future of Everything WebsiteConnect with Russ >>> Threads / Bluesky / MastodonConnect with School of Engineering >>>Twitter/X / Instagram / LinkedIn / Facebook Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Is there such a thing as MAD in economic warfare? How should we measure the effectiveness of our industrial policy tools, and what outcomes should we be aiming for anyway? Our guest today is Dan Kim, who served at USITC with stints at Qualcomm and SK hynix before returning to government as the Chief Economist for the CHIPS Program Office. He recently joined TechInsights as Chief Strategy Officer. Also joining us is Chris Miller of Chip War fame.  We discuss: What $39 billion can and can't buy — why the CHIPS Act was never meant to de-risk the U.S. from China or Taiwan, and what “success” looks like when autarky is neither affordable nor desirable, Apple vs. Xiaomi + BYD — invention versus fast-following as competing models of national power, and which system performs better when the goal shifts from profit maximization to geopolitical resilience, What resilience actually means — capability vs. capacity, weakest links, and whether economic security should be measured as “time to recovery” rather than self-sufficiency, Managed dependence vs. overreliance, and whether dependence itself can be a form of power, Why the U.S. still lacks a clear theory, metrics, and institutional design for industrial strategy — and what you can do about it. Subscribe to the ChinaTalk Substack to stay updated about the essay contest! Learn more about your ad choices. Visit megaphone.fm/adchoices

Is there such a thing as MAD in economic warfare? How should we measure the effectiveness of our industrial policy tools, and what outcomes should we be aiming for anyway? Our guest today is Dan Kim, who served at USITC with stints at Qualcomm and SK hynix before returning to government as the Chief Economist for the CHIPS Program Office. He recently joined TechInsights as Chief Strategy Officer. Also joining us is Chris Miller of Chip War fame.  We discuss: What $39 billion can and can't buy — why the CHIPS Act was never meant to de-risk the U.S. from China or Taiwan, and what “success” looks like when autarky is neither affordable nor desirable, Apple vs. Xiaomi + BYD — invention versus fast-following as competing models of national power, and which system performs better when the goal shifts from profit maximization to geopolitical resilience, What resilience actually means — capability vs. capacity, weakest links, and whether economic security should be measured as “time to recovery” rather than self-sufficiency, Managed dependence vs. overreliance, and whether dependence itself can be a form of power, Why the U.S. still lacks a clear theory, metrics, and institutional design for industrial strategy — and what you can do about it. Subscribe to the ChinaTalk Substack to stay updated about the essay contest! Learn more about your ad choices. Visit megaphone.fm/adchoices

(0:00) Commerce Secretary Howard Lutnick tells a hilarious Air Force One story (2:24) Chamath intros Secretary Lutnick (7:28) Full scope of the Commerce Department (12:59) How Trump's tariff agenda was planned and executed, how it's going (19:50) US-Japan trade deal, China's chaos-to-prowess strategy (36:54) Why the India deal has not yet happened (43:48) Pharma deals, lowering costs for Americans (53:28) Focus on fraud, immigration, gold cards (1:03:48) GDP: Could we see 5 or 6% growth in 2026? (1:11:49) How the Trump Admin revamped the CHIPS Act, Nvidia deal Follow Secretary Lutnick: https://x.com/howardlutnick Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

The CHIPS Act was billed as a once-in-a-generation effort to rebuild America's manufacturing base in a strategically vital industry. But turning legislation into functioning factories and good paying jobs requires far more than slogans about “onshoring” or wish-casting. It demands a state-sponsored investment outside of America's typical comfort zone.Mike Schmidt, former director of the CHIPS Program Office and co-author of Factory Settings, joins Oren to discuss what it actually took to stand up the largest industrial policy initiative in decades. They explore how the government negotiated with global chipmakers, why grants and tax credits were combined, what critics missed in the “everything bagel” debate, and how permitting, labor, and geopolitical risk shaped their efforts. They close by discussing how we'll know if the CHIPS Act ultimately succeeds and the way the U.S. should think about future reindustrialization efforts.Further Reading:"Chipping Away" by Chris Griswold

The Space Show Presents Michael Listner, Sunday , 12-21-25Quick SummaryOur program focused on analyzing the newly released Trump Space Policy Executive Order and its implications for NASA's moon return mission by 2028, with discussions around commercial space initiatives, infrastructure challenges, and geopolitical considerations. The Wisdom Team explored NASA's current plans, leadership changes, and the evolving role of private investment in space exploration, while examining international reactions and regulatory challenges. The conversation concluded with discussions about space governance, technological advancements, and future policy directions, including the potential for reduced launch costs and the importance of spectrum management in space policy.SummaryThe Wisdom Team discussed the newly released Trump Space Policy Executive Order, which Michael noted pushes for commercial space initiatives rather than the expensive rocket version, aiming for a moon return by 2028. David expressed skepticism about meeting this timeline without radical program changes, and mentioned Dr. Mike Griffin's upcoming appearance to share his perspective. David and Michael discussed the newly released executive order on space policy, which aims to return humans to the moon by 2028. Michael explained that the order emphasizes a sustainable and cost-effective lunar presence, including greater commercial space involvement. He noted that while the order is significant, its reception and implementation may face challenges, particularly due to potential conflicts with previous legislation. David raised concerns about the feasibility of the 2028 timeline, citing skepticism about current infrastructure and project delays. Michael acknowledged these concerns but suggested that the administration's focus on achieving this goal before the end of the president's term could drive progress.We continued talking about NASA's plans to return to the moon, with Michael emphasizing that the Space Launch System (SLS) is currently the only viable option for achieving this goal within a reasonable timeframe, despite its limitations and high costs. The group discussed the potential influence of lobbying by contractors with stakes in SLS, as well as the geopolitical considerations of competing with China's lunar ambitions. John Jossy mentioned the recent executive order requiring NASA to review major space acquisition programs, potentially opening the door to cuts or cancellations, though Michael suggested that SLS would likely continue until at least Artemis 3 or 4 due to political realities and geopolitical interests.Our Wisdom Team discussed the implications of recent changes in NASA leadership and broader space policy, with Michael sharing insights about the challenges faced by former NASA administrator Jim Bridenstine and others. They explored the future of space exploration, with Michael predicting that private investment would become more important than government funding over the next 10-15 years, leading to the formation of large space-focused conglomerates. The discussion concluded with an analysis of international reactions to U.S. commercial space initiatives, noting that many countries, particularly Russia and the European Union, are resistant to the commercialization of space and have implemented restrictive regulations to limit private sector involvement.Next, we focused on the shift towards national sovereignty in space governance, highlighted by recent conferences on regulating lunar activities and space resources. Michael noted that while the U.S. participated in these conferences, it aimed to influence rule-making rather than comply fully. Marshall brought up Elon Musk's plans for AI data centers in space, including a potential IPO and a Pentagon proposal for a $4 billion AI center. Michael clarified that regulatory hurdles, rather than legal ones, would be the main challenge for such initiatives, while also cautioning about the potential for overhyped expectations similar to those seen with space resource laws. David inquired about efforts to extend environmental protection laws to space, to which Michael responded that while such attempts occur, they often lack specific legislative backing and have faced setbacks in recent court decisions.The Wisdom Team discussed tax incentives for space investment, with Michael noting that Florida had considered such measures and federal proposals existed previously. Marshall raised concerns about SpaceX's potential market dominance following its IPO, which Michael addressed by explaining that antitrust considerations would require government approval for monopolistic behavior, though he noted SpaceX's competition with other launch companies. Michael predicted that 2025 would be a transition year for space policy, moving commercial space to a higher priority, and anticipated continued steady progress in 2026, with over 100 launches expected from Cape Canaveral and Vandenberg that year. John Jossy mentioned the upcoming 60-day timeline for issuing guidance on American space nuclear power initiatives.Michael discussed the challenges of developing nuclear propulsion systems, citing the example of DARPA's project being abandoned. He explained that the new nuclear power directive from the administration aims to move initiatives forward, with multiple agencies involved in authorization processes. David raised concerns about Congress potentially being a stumbling block to space exploration efforts, given its current focus and past legislative conflicts. Michael noted the ongoing competition between NASA authorization acts and the CHIPS Act, suggesting that the White House might find a way to align these directives.Michael went on to explain that space settlement lacks regulatory infrastructure and requires a national space policy prioritizing it, which currently does not exist. He noted that the FAA's 2015 Commercial Space Launch Act was not fully implemented, particularly regarding space resources, and highlighted the need for Congress to provide clear authorization for such activities. Marshall raised a question about the relationship between SpaceX's Starlink revenue and NASA's budget, to which Michael responded that this shift aligns with Reagan's vision for commercial space, emphasizing private innovation surpassing government capabilities.Nearing the end of our program, we focused on the current state and future of national space policy, commercial space initiatives, and technological advancements. Michael noted that the Trump administration's first-term national space policy remains in effect. The Biden administration did not replace it. The Trump pro-commercial space stance continues to influence the industry. The team discussed the potential for reduced launch costs due to increased competition, with Rocket Lab's success highlighted as a significant player in the market. They also explored the implications of the Golden Dome initiative, emphasizing its potential geopolitical and defense implications, as well as the challenges it may face in the future. The conversation concluded with an examination of upcoming technologies, such as SpaceX's Starlink and its potential impact on global communication, and the importance of spectrum management in space policy.Special thanks to our sponsors:Northrup Grumman, American Institute of Aeronautics and Astronautics, Helix Space in Luxembourg, Celestis Memorial Spaceflights, Astrox Corporation, Dr. Haym Benaroya of Rutgers University, The Space Settlement Progress Blog by John Jossy, The Atlantis Project, and Artless EntertainmentOur Toll Free Line for Live Broadcasts: 1-866-687-7223 (Not in service at this time)For real time program participation, email Dr. Space at: drspace@thespaceshow.com for instructions and access.The Space Show is a non-profit 501C3 through its parent, One Giant Leap Foundation, Inc. To donate via Pay Pal, use:To donate with Zelle, use the email address: david@onegiantleapfoundation.org.If you prefer donating with a check, please make the check payable to One Giant Leap Foundation and mail to:One Giant Leap Foundation, 11035 Lavender Hill Drive Ste. 160-306 Las Vegas, NV 89135Upcoming Programs:Broadcast 4477 Zoom: To Be Determined | Friday 26 Dec 2025 930AM PTGuests: Dr. David LivingstonZOOM: To Be DeterminedBroadcast 4478: Zoom: TOM OLSON | Sunday 28 Dec 2025 1200PM PTGuests: Thomas A. OlsonZoom: Tom returns for his annual year in review program. Always exciting and fun. Don't miss it. Get full access to The Space Show-One Giant Leap Foundation at doctorspace.substack.com/subscribe

Things are getting so dire in the PC-building space that we had to revisit the subject again this week, primarily to discuss the sudden and shocking end of longtime RAM and SSD maker Crucial, with a deeper dive into the way the memory supply chain works and a glimpse into a very dark future where building your own PC might be out of reach for many. We also dig into some new reporting about the Steam Machine's HDMI output, and why open gaming platforms are going to be in conflict with proprietary HDMI standards going forward. Plus, the latest AI nonsense (and how to work around it) in Firefox and Google News.NOTE: We're working on freeing ourselves from the need for Adobe products, so bear with us if the podcast sounds a little different this week. Feedback welcome!Crucial press release: https://investors.micron.com/news-releases/news-release-details/micron-announces-exit-crucial-consumer-businessGamersNexus video: https://www.youtube.com/watch?v=9A-eeJP0J7cSteam Machine and HDMI 2.1: https://arstechnica.com/gaming/2025/12/why-wont-steam-machine-support-hdmi-2-1-digging-in-on-the-display-standard-drama/Disable Firefox AI features: https://flamedfury.com/posts/disable-ai-in-firefox/The Verge on Google News AI headlines: https://www.theverge.com/ai-artificial-intelligence/838354/googles-ai-news-bot-is-still-confused-but-no-longer-replacing-our-headlines Support the Pod! Contribute to the Tech Pod Patreon and get access to our booming Discord, a monthly bonus episode, your name in the credits, and other great benefits! You can support the show at: https://patreon.com/techpod

From time to time, we'll re-air a previous episode of the show that our newer audience may have missed. During this episode, Santosh is joined by Matthew Putman, Co-Founder and CEO of Nanotronics, a company providing customized solutions for automated optical inspection, process control, and security. During the conversation, Santosh and Matthew explore the current state and future of semiconductor manufacturing in the U.S., emphasizing the challenges and opportunities. Matthew shares his unique journey from a background in theater and music to leading innovations in semiconductor manufacturing. Key topics include the implications of the CHIPS Act, the concept of "cube fabs," the importance of reskilling the workforce, the transformative role of AI in manufacturing, the need for creativity and adaptability in the industry, and so much more.Highlights from their conversation include:Matthew's Background and Journey Into Manufacturing (0:41)The State of Semiconductor Manufacturing (4:33)Impact of the CHIPS Act (7:01)Reskilling the Workforce (11:17)Critique of the CHIPS Act Funding (13:00)Opportunities in Manufacturing Technology (17:58)Collaboration Between Academia and Industry (20:46)Risks of Diversifying Semiconductor Production (23:18)The Value of AI in Manufacturing (25:10)Creativity in Business and Music (26:11)Science and Engineering Thought Processes (28:10)Impact of Upcoming Elections on Manufacturing (29:33)Labor Shortage Perspectives (30:00)Final Thoughts and Takeaways (30:31)Dynamo is a VC firm led by supply chain and mobility specialists that focus on seed-stage, enterprise startups.Find out more at: https://www.dynamo.vc/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The House Ethics Committee votes to block the release of the Gaetz report but they've agreed to keep working and will meet again in December; Texas is offering Trump thousands of acres of land for concentration camps; Speaker Johnson restricts use of Capitol bathrooms by transgender people; Biden locks in $6.6B for TSMC chip factories, ensuring Trump can't rescind the CHIPS Act deal; a Trump appointed federal judge criticized pardons for January 6th; Ruby Freeman and Shaye Moss tell a judge that Rudy should be held in contempt of court; Senate Judiciary Democrats ask the FBI for the Gaetz evidentiary file; and Allison and Dana deliver your Good News. Guest: Chris Melody Fields FigueredoThe Ballot Initiative Strategy Center (BISC) (ballot.org)Bluesky - @BallotStrategyInstagram - ballotstrategyTwitter - BallotStrategyFacebook - BallotStrategy Our Donation LinksNational Security Counselors - DonateMSW Media, Blue Wave California Victory Fund | ActBlueWhistleblowerAid.org/beansFederal workers - feel free to email AG at fedoath@pm.me and let me know what you're going to do, or just vent. I'm always here to listen. Find Upcoming Actions 50501 Movement, No Kings.org, Indivisible.orgDr. Allison Gill - Substack, BlueSky , TikTok, IG, TwitterDana Goldberg - BlueSky, Twitter, IG, facebook, danagoldberg.comCheck out more from MSW Media - Shows - MSW Media, Cleanup On Aisle 45 pod, The Breakdown | SubstackShare your Good News or Good TroubleMSW Good News and Good TroubleHave some good news; a confession; or a correction to share?Good News & Confessions - The Daily Beanshttps://www.dailybeanspod.com/confessional/ Listener Survey:http://survey.podtrac.com/start-survey.aspx?pubid=BffJOlI7qQcF&ver=shortFollow the Podcast on Apple:The Daily Beans on Apple PodcastsWant to support the show and get it ad-free and early?The Daily Beans | SupercastThe Daily Beans & Mueller, She Wrote | PatreonThe Daily Beans | Apple Podcasts Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our U.S. Public Policy Strategist Ariana Salvatore unpacks how China's announced rare earth export controls and signals of sweeping U.S. tariffs could impact global supply chains, markets and economic growth.Read more insights from Morgan Stanley.----- Transcript ----- Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Morgan Stanley's U.S. Public Policy Strategist. Today I'll talk about a development keeping markets and investors on alert: a re-escalation of U.S. China trade tensions. It's Friday, October 17th at 10am in New York. Since April, the U.S. and China have been in what we've been calling a very delicate detente. Remember, President Trump paused the additional reciprocal tariffs after Liberation Day. Since then, we've been consistently skeptical that the pause was durable enough to actually allow the U.S. and China to come up with a full-fledged trade agreement. But now we're equally as skeptical that the current escalation will lead to a material disruption in the bilateral relationship. So, what happened last week? China announced stricter export controls on rare earths, which are really critical for manufacturing everything from electric vehicles to defense equipment and advanced electronics. So, in response, the Trump administration on Friday announced a proposed 100 percent tariff, said to go into effect November 1st across all Chinese exports to the U.S. That date matters because that's around the same time that Presidents Trump and Xi were scheduled to meet at the upcoming APEC Summit in South Korea. When we think about this most recent escalation, it's pretty significant because China accounts for about 70 percent of global rare earth mining, and 90 percent of processing and refining. A lot of countries around the world – the U.S. Japan, Korea, and Germany – all rely heavily on these imports from China. And so potential new export controls mean that every economy may have to start negotiating bilaterally with China to secure supplies, which raises the risk of supply chain disruption across Asia, Europe, and the U.S. Looking ahead, we're thinking about four potential scenarios for how the current U.S.-China trade tensions could play out. The most likely outcome, which is our base case, is a return to the recent status quo following a period of rhetorical escalation and likely a reset of expectations heading into this APEC meeting. That's because we think both the U.S. and China would prefer to maintain the existing equilibrium to an abrupt supply chain decoupling. That equilibrium is effectively chips for rare earths. So, the U.S. receives China's rare earths, and then in return the U.S. exports some of its chips to China. But that equilibrium doesn't necessarily mean that the temporary implementation of trade barriers like higher tariffs or more export controls are off the table. The broader trajectory we think will continue to point toward competitive confrontation, which is a bipartisan strategy that encompasses both these traditional trade tactics as well as unilateral domestic investment – either vis-a-vis direct federal spending, or the government taking more stakes in companies involved in these critical industries. So, think things like the IRA, the CHIPS Act, and other bipartisan pieces of legislation. So, in the near and medium term, expect to see these trade barriers persisting and a bipartisan push toward U.S. industrial policy, as the U.S. attempts to undergo selective de-risking from China. Our base case scenario anticipates further short-term tensions, but ultimately a limited agreement that avoids deep structural changes. We've also thought through some alternate scenarios. So, in one downside case, you could see temporary escalation past November 1st. Both sides could fully implement their proposed policies, but after doing so, come back to the status quo once the economic costs become apparent. A more severe downside scenario involves durable escalation. So, in this case, we would see both countries maintain trade barriers for an extended period. That outcome would see both the U.S. and China decide to change calculus on that equilibrium, so that no longer holds. And in that case, we could see a push toward decoupling and a significant strain on supply chains. Finally, our last scenario reflects a quick de-escalation in which heightened rhetoric actually acts as a catalyst for renewed negotiations and a potential framework agreement that could result in some tariffs, but most likely at lower levels than initially proposed. So, what does this all mean? In the base case, our economists expect China's GDP growth to slow to below 4.5 percent in the second half of 2025, with exports supported by robust non-U.S. shipments. Our equity strategists in this outcome see the volatility actually providing a dip buying opportunity, given that they see a rolling recovery that began earlier this year. However, a more durable escalation could possibly prolong China's deflation and necessitate further policy adjustments. Similarly, that outcome could negate the early cycle rolling recovery thesis here in the U.S. Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.

PREVIEW HEADLINE: Experts Warn of US Vulnerability Due to Reliance on Taiwan for High-End AI Chips GUEST NAME: Brandon Weichert SUMMARY: Brandon Weichert discussed House Oversight Committee testimony detailing US vulnerability regarding high-end AI chips. The panel argued that relying on Taiwan for 90% of production makes the US supply chain susceptible to Chinese disruption. Experts recommended a comprehensive Chips Act and budgeting language to stop companies like Nvidia from selling advanced chips to Beijing. 1954

CBS EYE ON THE WORLD WITH JOHN BATCHELOR 194O LAS VEGAS THE SHOW BEGINS IN THE DOUBTS ABOUT LAS VEGAS...... 9-26-25 FIRST HOUR 9-915 Jeff Bliss reports while Las Vegas is struggling, two planned communities, Cadence and Summerlin, are prospering due to master-planned amenities, strong schools, and feeding Vegas with upper management. 915-930 Jeff Bliss reports while Las Vegas is struggling, two planned communities, Cadence and Summerlin, are prospering due to master-planned amenities, strong schools, and feeding Vegas with upper management. 930-945 Richard Epstein analyzes James Comey's indictment as presidential vengeance using a potentially strong legal case. He argues Trump acts illegally in Venezuela to be feared, benefiting from lack of legal resistance. 945-1000 Richard Epstein analyzes James Comey's indictment as presidential vengeance using a potentially strong legal case. He argues Trump acts illegally in Venezuela to be feared, benefiting from lack of legal resistance. SECOND HOUR 10-1015 Gene Marks reports that massive spending by tech giants on data centers is driving demand for aluminum, steel, and copper, offsetting the softening commercial construction market. 1015-1030 Gene Marks reports that massive spending by tech giants on data centers is driving demand for aluminum, steel, and copper, offsetting the softening commercial construction market. 1030-1045 Bob Zimmerman discusses a brilliant concept by European engineers: "tumbleweed" rovers. These swarm vehicles would roll across Mars, blown by the wind, acting as weather stations. 1045-1100 Bob Zimmerman discusses a brilliant concept by European engineers: "tumbleweed" rovers. These swarm vehicles would roll across Mars, blown by the wind, acting as weather stations. THIRD HOUR 1100-1115 Henry Sokolski discusses the scope of the "Golden Dome" for America, questioning if it should protect space access, LEO, or cis-lunar space. Its potential reorientation to counter Chinese/Russian threats is necessary. 1115-1130 Henry Sokolski discusses the scope of the "Golden Dome" for America, questioning if it should protect space access, LEO, or cis-lunar space. Its potential reorientation to counter Chinese/Russian threats is necessary. 1130-1145 Brandon Weichert discusses AI growth driven by massive data centers, facing bottlenecks in land, energy, and fresh water access. The Chips Act struggles; the economic boom risks are significant if high-end chip access is lost. 1145-1200 Preview: Dr. Henry Miller celebrates vaccines for dramatically increasing longevity and eradicating diseases like polio. He notes the success of COVID-19 shots and criticizes the NIH for defunding promising mRNA cancer research. FOURTH HOUR 12-1215 Preview: Conrad Black endorses Tony Blair for leading the Gaza International Transitional Authority under a proposed Trump peace plan. Blair is viewed as fair and capable of removing Hamas influence. 1215-1230 Preview: Lorenzo Fiori reports that Milan, the current center of worldwide fashion, shows no recession signs. High-end spending, luxury shopping, and vibrant nightlife suggest people have money to spend. 1230-1245 Preview: Juliana Geran Pilon discusses how Founding Fathers viewed the Hebrew nation as an ideal for America, rooted in a divine creator. She warns that moral relativism and secularism now assault this core foundation. 1245-100 AM Preview: Juliana Geran Pilon discusses how Founding Fathers viewed the Hebrew nation as an ideal for America, rooted in a divine creator. She warns that moral relativism and secularism now assault this core foundation.

Brandon Weichert discusses AI growth driven by massive data centers, facing bottlenecks in land, energy, and fresh water access. The Chips Act struggles; the economic boom risks are significant if high-end chip access is lost. 1952

The internet's still broken, folks, and apparently, AI's here to make it more awkward. Intel caught a break from Uncle Sam's CHIPS Act, cool for them, not so much for those 'flashing warning signs' in the job market. Meta's been letting celebrity chatbots run wild (and creepy), Midjourney's getting sued by Warner Bros. for stealing IP (who'da thought?), and OpenAI thinks an AI hiring platform is a good idea. Plus, an AI chatbot automated a cybercrime spree, totally unexpected. If you're calling ChatGPT a 'clanker,' you're not wrong, but seriously? Your butt probably needs a break from the toilet.Elon Musk and his joyride of companies continue to make us wonder if we're living in a dystopian satire. Tesla got slapped with a $243 million verdict after rejecting a $60 million settlement (because that's how you make deals, right?). 'Key data' they said they didn't have? A hacker found it. His vague 'master plan' sounds like a last-minute college essay, and software deploys airbags before you crash. His quest for a trillion-dollar pay package is on, and Neuralink can't even trademark 'telepathy.' They're doing brain surgeries in Toronto now. What could go wrong?On the lighter side, Finland built a giant sand battery, which is cool, and iOS 26 finally gave iPads a native Instagram app after, like, forever. We've got movie reviews, TV binges (Wednesday is really good), and a deep dive into KPop Demon Hunters (seriously, listen to the songs). FIFA's jacking up World Cup ticket prices with dynamic pricing (of course they are), and Morrissey's selling his stake in The Smiths (probably to escape his own 'malicious associations'). If you're still reading Usenet threads from '94, you're either a sadist or Dave.Sponsors:CleanMyMac - clnmy.com/Grumpyoldgeeks - Use code OLDGEEKS for 20% off.Private Internet Access - Go to GOG.Show/vpn and sign up today. For a limited time only, you can get OUR favorite VPN for as little as $2.03 a month.SetApp - With a single monthly subscription you get 240+ apps for your Mac. Go to SetApp and get started today!!!1Password - Get a great deal on the only password manager recommended by Grumpy Old Geeks! gog.show/1passwordShow notes at https://gog.show/712FOLLOW UPThe US government drops its CHIPS Act requirements for IntelAmerica's job market flashes yet another warning sign about the economyHydrogen-Powered Plasma Torch Decimates Plastic Waste in a BlinkYour Butthole Is Begging You to Stop Scrolling on the ToiletIN THE NEWSTesla rejected $60 million settlement before losing $243 million Autopilot verdictTesla said it didn't have key data in a fatal crash. Then a hacker found it.Tesla has a new master plan—it just doesn't have any specificsTesla Software Update Will Deploy Airbags Before Crash Actually HappensTrump to host tech CEOs for first event in newly renovated Rose GardenTesla proposes Elon Musk pay package that could make him the world's first trillionaireTesla shareholders to vote on investing in Musk's AI startup xAIMeta reportedly allowed unauthorized celebrity AI chatbots on its servicesWarner Bros. Discovery is suing Midjourney for copyright infringementOpenAI announces AI-powered hiring platform to take on LinkedInOpenAI is reportedly producing its own AI chips starting next yearA hacker used AI to automate an 'unprecedented' cybercrime spree, Anthropic saysThe world's largest sand battery just went live in FinlandWhy the Internet Can't Stop Calling ChatGPT a “Clanker”MEDIA CANDYThe Thursday Murder ClubWeaponsAlien: EarthWednesdayStar Trek: Strange New Worlds - Four and a Half VulcansUploadKPop Demon Hunters - revisited2026 World Cup tickets: FIFA confirms use of dynamic pricingExhausted by "malicious associations," Morrissey sells stake in The SmithsAPPS & DOODADSMarshall's Mid-Century-Looking Soundbar Would Make Don Draper Cry Tears of JoyWho Owns ‘Telepathy'?Instagram finally has an iPad app 15 years after it first launchedRoblox will require age verification for all users to access communication featuressuperwhisperiOS 26 adds seven brand new iPhone ringtones, listen hereTHE DARK SIDE WITH DAVEDave BittnerThe CyberWireHacking HumansCaveatControl LoopOnly Malware in the BuildingHot sauce and hot takes: An Only Malware in the Building special.My comments on a Usenet thread from 1994Darth Vader's Lightsaber Auction Sale Sets Record for ‘Star Wars' ItemHome Depot R2D2Disney Disney Star Wars Animated Darth VaderFlorida plans to end all state vaccine mandates, including for schoolsVibeVoice: A Frontier Long Conversational Text-to-Speech ModelRumor: There's A New ‘The Muppet Show' PilotSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.