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Tickets for AIEi Miami and AIE Europe are live, with first wave speakers announced!From pioneering software-defined networking to backing many of the most aggressive AI model companies of this cycle, Martin Casado and Sarah Wang sit at the center of the capital, compute, and talent arms race reshaping the tech industry. As partners at a16z investing across infrastructure and growth, they've watched venture and growth blur, model labs turn dollars into capability at unprecedented speed, and startups raise nine-figure rounds before monetization.Martin and Sarah join us to unpack the new financing playbook for AI: why today's rounds are really compute contracts in disguise, how the “raise → train → ship → raise bigger” flywheel works, and whether foundation model companies can outspend the entire app ecosystem built on top of them. They also share what's underhyped (boring enterprise software), what's overheated (talent wars and compensation spirals), and the two radically different futures they see for AI's market structure.We discuss:* Martin's “two futures” fork: infinite fragmentation and new software categories vs. a small oligopoly of general models that consume everything above them* The capital flywheel: how model labs translate funding directly into capability gains, then into revenue growth measured in weeks, not years* Why venture and growth have merged: $100M–$1B hybrid rounds, strategic investors, compute negotiations, and complex deal structures* The AGI vs. product tension: allocating scarce GPUs between long-term research and near-term revenue flywheels* Whether frontier labs can out-raise and outspend the entire app ecosystem built on top of their APIs* Why today's talent wars ($10M+ comp packages, $B acqui-hires) are breaking early-stage founder math* Cursor as a case study: building up from the app layer while training down into your own models* Why “boring” enterprise software may be the most underinvested opportunity in the AI mania* Hardware and robotics: why the ChatGPT moment hasn't yet arrived for robots and what would need to change* World Labs and generative 3D: bringing the marginal cost of 3D scene creation down by orders of magnitude* Why public AI discourse is often wildly disconnected from boardroom reality and how founders should navigate the noiseShow Notes:* “Where Value Will Accrue in AI: Martin Casado & Sarah Wang” - a16z show* “Jack Altman & Martin Casado on the Future of Venture Capital”* World Labs—Martin Casado• LinkedIn: https://www.linkedin.com/in/martincasado/• X: https://x.com/martin_casadoSarah Wang• LinkedIn: https://www.linkedin.com/in/sarah-wang-59b96a7• X: https://x.com/sarahdingwanga16z• https://a16z.com/Timestamps00:00:00 – Intro: Live from a16z00:01:20 – The New AI Funding Model: Venture + Growth Collide00:03:19 – Circular Funding, Demand & “No Dark GPUs”00:05:24 – Infrastructure vs Apps: The Lines Blur00:06:24 – The Capital Flywheel: Raise → Train → Ship → Raise Bigger00:09:39 – Can Frontier Labs Outspend the Entire App Ecosystem?00:11:24 – Character AI & The AGI vs Product Dilemma00:14:39 – Talent Wars, $10M Engineers & Founder Anxiety00:17:33 – What's Underinvested? The Case for “Boring” Software00:19:29 – Robotics, Hardware & Why It's Hard to Win00:22:42 – Custom ASICs & The $1B Training Run Economics00:24:23 – American Dynamism, Geography & AI Power Centers00:26:48 – How AI Is Changing the Investor Workflow (Claude Cowork)00:29:12 – Two Futures of AI: Infinite Expansion or Oligopoly?00:32:48 – If You Can Raise More Than Your Ecosystem, You Win00:34:27 – Are All Tasks AGI-Complete? Coding as the Test Case00:38:55 – Cursor & The Power of the App Layer00:44:05 – World Labs, Spatial Intelligence & 3D Foundation Models00:47:20 – Thinking Machines, Founder Drama & Media Narratives00:52:30 – Where Long-Term Power Accrues in the AI StackTranscriptLatent.Space - Inside AI's $10B+ Capital Flywheel — Martin Casado & Sarah Wang of a16z[00:00:00] Welcome to Latent Space (Live from a16z) + Meet the Guests[00:00:00] Alessio: Hey everyone. Welcome to the Latent Space podcast, live from a 16 z. Uh, this is Alessio founder Kernel Lance, and I'm joined by Twix, editor of Latent Space.[00:00:08] swyx: Hey, hey, hey. Uh, and we're so glad to be on with you guys. Also a top AI podcast, uh, Martin Cado and Sarah Wang. Welcome, very[00:00:16] Martin Casado: happy to be here and welcome.[00:00:17] swyx: Yes, uh, we love this office. We love what you've done with the place. Uh, the new logo is everywhere now. It's, it's still getting, takes a while to get used to, but it reminds me of like sort of a callback to a more ambitious age, which I think is kind of[00:00:31] Martin Casado: definitely makes a statement.[00:00:33] swyx: Yeah.[00:00:34] Martin Casado: Not quite sure what that statement is, but it makes a statement.[00:00:37] swyx: Uh, Martin, I go back with you to Netlify.[00:00:40] Martin Casado: Yep.[00:00:40] swyx: Uh, and, uh, you know, you create a software defined networking and all, all that stuff people can read up on your background. Yep. Sarah, I'm newer to you. Uh, you, you sort of started working together on AI infrastructure stuff.[00:00:51] Sarah Wang: That's right. Yeah. Seven, seven years ago now.[00:00:53] Martin Casado: Best growth investor in the entire industry.[00:00:55] swyx: Oh, say[00:00:56] Martin Casado: more hands down there is, there is. [00:01:00] I mean, when it comes to AI companies, Sarah, I think has done the most kind of aggressive, um, investment thesis around AI models, right? So, worked for Nom Ja, Mira Ia, FEI Fey, and so just these frontier, kind of like large AI models.[00:01:15] I think, you know, Sarah's been the, the broadest investor. Is that fair?[00:01:20] Venture vs. Growth in the Frontier Model Era[00:01:20] Sarah Wang: No, I, well, I was gonna say, I think it's been a really interesting tag, tag team actually just ‘cause the, a lot of these big C deals, not only are they raising a lot of money, um, it's still a tech founder bet, which obviously is inherently early stage.[00:01:33] But the resources,[00:01:36] Martin Casado: so many, I[00:01:36] Sarah Wang: was gonna say the resources one, they just grow really quickly. But then two, the resources that they need day one are kind of growth scale. So I, the hybrid tag team that we have is. Quite effective, I think,[00:01:46] Martin Casado: what is growth these days? You know, you don't wake up if it's less than a billion or like, it's, it's actually, it's actually very like, like no, it's a very interesting time in investing because like, you know, take like the character around, right?[00:01:59] These tend to [00:02:00] be like pre monetization, but the dollars are large enough that you need to have a larger fund and the analysis. You know, because you've got lots of users. ‘cause this stuff has such high demand requires, you know, more of a number sophistication. And so most of these deals, whether it's US or other firms on these large model companies, are like this hybrid between venture growth.[00:02:18] Sarah Wang: Yeah. Total. And I think, you know, stuff like BD for example, you wouldn't usually need BD when you were seed stage trying to get market biz Devrel. Biz Devrel, exactly. Okay. But like now, sorry, I'm,[00:02:27] swyx: I'm not familiar. What, what, what does biz Devrel mean for a venture fund? Because I know what biz Devrel means for a company.[00:02:31] Sarah Wang: Yeah.[00:02:32] Compute Deals, Strategics, and the ‘Circular Funding' Question[00:02:32] Sarah Wang: You know, so a, a good example is, I mean, we talk about buying compute, but there's a huge negotiation involved there in terms of, okay, do you get equity for the compute? What, what sort of partner are you looking at? Is there a go-to market arm to that? Um, and these are just things on this scale, hundreds of millions, you know, maybe.[00:02:50] Six months into the inception of a company, you just wouldn't have to negotiate these deals before.[00:02:54] Martin Casado: Yeah. These large rounds are very complex now. Like in the past, if you did a series A [00:03:00] or a series B, like whatever, you're writing a 20 to a $60 million check and you call it a day. Now you normally have financial investors and strategic investors, and then the strategic portion always still goes with like these kind of large compute contracts, which can take months to do.[00:03:13] And so it's, it's very different ties. I've been doing this for 10 years. It's the, I've never seen anything like this.[00:03:19] swyx: Yeah. Do you have worries about the circular funding from so disease strategics?[00:03:24] Martin Casado: I mean, listen, as long as the demand is there, like the demand is there. Like the problem with the internet is the demand wasn't there.[00:03:29] swyx: Exactly. All right. This, this is like the, the whole pyramid scheme bubble thing, where like, as long as you mark to market on like the notional value of like, these deals, fine, but like once it starts to chip away, it really Well[00:03:41] Martin Casado: no, like as, as, as, as long as there's demand. I mean, you know, this, this is like a lot of these sound bites have already become kind of cliches, but they're worth saying it.[00:03:47] Right? Like during the internet days, like we were. Um, raising money to put fiber in the ground that wasn't used. And that's a problem, right? Because now you actually have a supply overhang.[00:03:58] swyx: Mm-hmm.[00:03:59] Martin Casado: And even in the, [00:04:00] the time of the, the internet, like the supply and, and bandwidth overhang, even as massive as it was in, as massive as the crash was only lasted about four years.[00:04:09] But we don't have a supply overhang. Like there's no dark GPUs, right? I mean, and so, you know, circular or not, I mean, you know, if, if someone invests in a company that, um. You know, they'll actually use the GPUs. And on the other side of it is the, is the ask for customer. So I I, I think it's a different time.[00:04:25] Sarah Wang: I think the other piece, maybe just to add onto this, and I'm gonna quote Martine in front of him, but this is probably also a unique time in that. For the first time, you can actually trace dollars to outcomes. Yeah, right. Provided that scaling laws are, are holding, um, and capabilities are actually moving forward.[00:04:40] Because if you can put translate dollars into capabilities, uh, a capability improvement, there's demand there to martine's point. But if that somehow breaks, you know, obviously that's an important assumption in this whole thing to make it work. But you know, instead of investing dollars into sales and marketing, you're, you're investing into r and d to get to the capability, um, you know, increase.[00:04:59] And [00:05:00] that's sort of been the demand driver because. Once there's an unlock there, people are willing to pay for it.[00:05:05] Alessio: Yeah.[00:05:06] Blurring Lines: Models as Infra + Apps, and the New Fundraising Flywheel[00:05:06] Alessio: Is there any difference in how you built the portfolio now that some of your growth companies are, like the infrastructure of the early stage companies, like, you know, OpenAI is now the same size as some of the cloud providers were early on.[00:05:16] Like what does that look like? Like how much information can you feed off each other between the, the two?[00:05:24] Martin Casado: There's so many lines that are being crossed right now, or blurred. Right. So we already talked about venture and growth. Another one that's being blurred is between infrastructure and apps, right? So like what is a model company?[00:05:35] Mm-hmm. Like, it's clearly infrastructure, right? Because it's like, you know, it's doing kind of core r and d. It's a horizontal platform, but it's also an app because it's um, uh, touches the users directly. And then of course. You know, the, the, the growth of these is just so high. And so I actually think you're just starting to see a, a, a new financing strategy emerge and, you know, we've had to adapt as a result of that.[00:05:59] And [00:06:00] so there's been a lot of changes. Um, you're right that these companies become platform companies very quickly. You've got ecosystem build out. So none of this is necessarily new, but the timescales of which it's happened is pretty phenomenal. And the way we'd normally cut lines before is blurred a little bit, but.[00:06:16] But that, that, that said, I mean, a lot of it also just does feel like things that we've seen in the past, like cloud build out the internet build out as well.[00:06:24] Sarah Wang: Yeah. Um, yeah, I think it's interesting, uh, I don't know if you guys would agree with this, but it feels like the emerging strategy is, and this builds off of your other question, um.[00:06:33] You raise money for compute, you pour that or you, you pour the money into compute, you get some sort of breakthrough. You funnel the breakthrough into your vertically integrated application. That could be chat GBT, that could be cloud code, you know, whatever it is. You massively gain share and get users.[00:06:49] Maybe you're even subsidizing at that point. Um, depending on your strategy. You raise money at the peak momentum and then you repeat, rinse and repeat. Um, and so. And that wasn't [00:07:00] true even two years ago, I think. Mm-hmm. And so it's sort of to your, just tying it to fundraising strategy, right? There's a, and hiring strategy.[00:07:07] All of these are tied, I think the lines are blurring even more today where everyone is, and they, but of course these companies all have API businesses and so they're these, these frenemy lines that are getting blurred in that a lot of, I mean, they have billions of dollars of API revenue, right? And so there are customers there.[00:07:23] But they're competing on the app layer.[00:07:24] Martin Casado: Yeah. So this is a really, really important point. So I, I would say for sure, venture and growth, that line is blurry app and infrastructure. That line is blurry. Um, but I don't think that that changes our practice so much. But like where the very open questions are like, does this layer in the same way.[00:07:43] Compute traditionally has like during the cloud is like, you know, like whatever, somebody wins one layer, but then another whole set of companies wins another layer. But that might not, might not be the case here. It may be the case that you actually can't verticalize on the token string. Like you can't build an app like it, it necessarily goes down just because there are no [00:08:00] abstractions.[00:08:00] So those are kinda the bigger existential questions we ask. Another thing that is very different this time than in the history of computer sciences is. In the past, if you raised money, then you basically had to wait for engineering to catch up. Which famously doesn't scale like the mythical mammoth. It take a very long time.[00:08:18] But like that's not the case here. Like a model company can raise money and drop a model in a, in a year, and it's better, right? And, and it does it with a team of 20 people or 10 people. So this type of like money entering a company and then producing something that has demand and growth right away and using that to raise more money is a very different capital flywheel than we've ever seen before.[00:08:39] And I think everybody's trying to understand what the consequences are. So I think it's less about like. Big companies and growth and this, and more about these more systemic questions that we actually don't have answers to.[00:08:49] Alessio: Yeah, like at Kernel Labs, one of our ideas is like if you had unlimited money to spend productively to turn tokens into products, like the whole early stage [00:09:00] market is very different because today you're investing X amount of capital to win a deal because of price structure and whatnot, and you're kind of pot committing.[00:09:07] Yeah. To a certain strategy for a certain amount of time. Yeah. But if you could like iteratively spin out companies and products and just throw, I, I wanna spend a million dollar of inference today and get a product out tomorrow.[00:09:18] swyx: Yeah.[00:09:19] Alessio: Like, we should get to the point where like the friction of like token to product is so low that you can do this and then you can change the Right, the early stage venture model to be much more iterative.[00:09:30] And then every round is like either 100 k of inference or like a hundred million from a 16 Z. There's no, there's no like $8 million C round anymore. Right.[00:09:38] When Frontier Labs Outspend the Entire App Ecosystem[00:09:38] Martin Casado: But, but, but, but there's a, there's a, the, an industry structural question that we don't know the answer to, which involves the frontier models, which is, let's take.[00:09:48] Anthropic it. Let's say Anthropic has a state-of-the-art model that has some large percentage of market share. And let's say that, uh, uh, uh, you know, uh, a company's building smaller models [00:10:00] that, you know, use the bigger model in the background, open 4.5, but they add value on top of that. Now, if Anthropic can raise three times more.[00:10:10] Every subsequent round, they probably can raise more money than the entire app ecosystem that's built on top of it. And if that's the case, they can expand beyond everything built on top of it. It's like imagine like a star that's just kind of expanding, so there could be a systemic. There could be a, a systemic situation where the soda models can raise so much money that they can out pay anybody that bills on top of ‘em, which would be something I don't think we've ever seen before just because we were so bottlenecked in engineering, and this is a very open question.[00:10:41] swyx: Yeah. It's, it is almost like bitter lesson applied to the startup industry.[00:10:45] Martin Casado: Yeah, a hundred percent. It literally becomes an issue of like raise capital, turn that directly into growth. Use that to raise three times more. Exactly. And if you can keep doing that, you literally can outspend any company that's built the, not any company.[00:10:57] You can outspend the aggregate of companies on top of [00:11:00] you and therefore you'll necessarily take their share, which is crazy.[00:11:02] swyx: Would you say that kind of happens in character? Is that the, the sort of postmortem on. What happened?[00:11:10] Sarah Wang: Um,[00:11:10] Martin Casado: no.[00:11:12] Sarah Wang: Yeah, because I think so,[00:11:13] swyx: I mean the actual postmortem is, he wanted to go back to Google.[00:11:15] Exactly. But like[00:11:18] Martin Casado: that's another difference that[00:11:19] Sarah Wang: you said[00:11:21] Martin Casado: it. We should talk, we should actually talk about that.[00:11:22] swyx: Yeah,[00:11:22] Sarah Wang: that's[00:11:23] swyx: Go for it. Take it. Take,[00:11:23] Sarah Wang: yeah.[00:11:24] Character.AI, Founder Goals (AGI vs Product), and GPU Allocation Tradeoffs[00:11:24] Sarah Wang: I was gonna say, I think, um. The, the, the character thing raises actually a different issue, which actually the Frontier Labs will face as well. So we'll see how they handle it.[00:11:34] But, um, so we invest in character in January, 2023, which feels like eons ago, I mean, three years ago. Feels like lifetimes ago. But, um, and then they, uh, did the IP licensing deal with Google in August, 2020. Uh, four. And so, um, you know, at the time, no, you know, he's talked publicly about this, right? He wanted to Google wouldn't let him put out products in the world.[00:11:56] That's obviously changed drastically. But, um, he went to go do [00:12:00] that. Um, but he had a product attached. The goal was, I mean, it's Nome Shair, he wanted to get to a GI. That was always his personal goal. But, you know, I think through collecting data, right, and this sort of very human use case, that the character product.[00:12:13] Originally was and still is, um, was one of the vehicles to do that. Um, I think the real reason that, you know. I if you think about the, the stress that any company feels before, um, you ultimately going one way or the other is sort of this a GI versus product. Um, and I think a lot of the big, I think, you know, opening eyes, feeling that, um, anthropic if they haven't started, you know, felt it, certainly given the success of their products, they may start to feel that soon.[00:12:39] And the real. I think there's real trade-offs, right? It's like how many, when you think about GPUs, that's a limited resource. Where do you allocate the GPUs? Is it toward the product? Is it toward new re research? Right? Is it, or long-term research, is it toward, um, n you know, near to midterm research? And so, um, in a case where you're resource constrained, um, [00:13:00] of course there's this fundraising game you can play, right?[00:13:01] But the fund, the market was very different back in 2023 too. Um. I think the best researchers in the world have this dilemma of, okay, I wanna go all in on a GI, but it's the product usage revenue flywheel that keeps the revenue in the house to power all the GPUs to get to a GI. And so it does make, um, you know, I think it sets up an interesting dilemma for any startup that has trouble raising up until that level, right?[00:13:27] And certainly if you don't have that progress, you can't continue this fly, you know, fundraising flywheel.[00:13:32] Martin Casado: I would say that because, ‘cause we're keeping track of all of the things that are different, right? Like, you know, venture growth and uh, app infra and one of the ones is definitely the personalities of the founders.[00:13:45] It's just very different this time I've been. Been doing this for a decade and I've been doing startups for 20 years. And so, um, I mean a lot of people start this to do a GI and we've never had like a unified North star that I recall in the same [00:14:00] way. Like people built companies to start companies in the past.[00:14:02] Like that was what it was. Like I would create an internet company, I would create infrastructure company, like it's kind of more engineering builders and this is kind of a different. You know, mentality. And some companies have harnessed that incredibly well because their direction is so obviously on the path to what somebody would consider a GI, but others have not.[00:14:20] And so like there is always this tension with personnel. And so I think we're seeing more kind of founder movement.[00:14:27] Sarah Wang: Yeah.[00:14:27] Martin Casado: You know, as a fraction of founders than we've ever seen. I mean, maybe since like, I don't know the time of like Shockly and the trade DUR aid or something like that. Way back in the beginning of the industry, I, it's a very, very.[00:14:38] Unusual time of personnel.[00:14:39] Sarah Wang: Totally.[00:14:40] Talent Wars, Mega-Comp, and the Rise of Acquihire M&A[00:14:40] Sarah Wang: And it, I think it's exacerbated by the fact that talent wars, I mean, every industry has talent wars, but not at this magnitude, right? No. Yeah. Very rarely can you see someone get poached for $5 billion. That's hard to compete with. And then secondly, if you're a founder in ai, you could fart and it would be on the front page of, you know, the information these days.[00:14:59] And so there's [00:15:00] sort of this fishbowl effect that I think adds to the deep anxiety that, that these AI founders are feeling.[00:15:06] Martin Casado: Hmm.[00:15:06] swyx: Uh, yes. I mean, just on, uh, briefly comment on the founder, uh, the sort of. Talent wars thing. I feel like 2025 was just like a blip. Like I, I don't know if we'll see that again.[00:15:17] ‘cause meta built the team. Like, I don't know if, I think, I think they're kind of done and like, who's gonna pay more than meta? I, I don't know.[00:15:23] Martin Casado: I, I agree. So it feels so, it feel, it feels this way to me too. It's like, it is like, basically Zuckerberg kind of came out swinging and then now he's kind of back to building.[00:15:30] Yeah,[00:15:31] swyx: yeah. You know, you gotta like pay up to like assemble team to rush the job, whatever. But then now, now you like you, you made your choices and now they got a ship.[00:15:38] Martin Casado: I mean, the, the o other side of that is like, you know, like we're, we're actually in the job hiring market. We've got 600 people here. I hire all the time.[00:15:44] I've got three open recs if anybody's interested, that's listening to this for investor. Yeah, on, on the team, like on the investing side of the team, like, and, um, a lot of the people we talk to have acting, you know, active, um, offers for 10 million a year or something like that. And like, you know, and we pay really, [00:16:00] really well.[00:16:00] And just to see what's out on the market is really, is really remarkable. And so I would just say it's actually, so you're right, like the really flashy one, like I will get someone for, you know, a billion dollars, but like the inflated, um, uh, trickles down. Yeah, it is still very active today. I mean,[00:16:18] Sarah Wang: yeah, you could be an L five and get an offer in the tens of millions.[00:16:22] Okay. Yeah. Easily. Yeah. It's so I think you're right that it felt like a blip. I hope you're right. Um, but I think it's been, the steady state is now, I think got pulled up. Yeah. Yeah. I'll pull up for[00:16:31] Martin Casado: sure. Yeah.[00:16:32] Alessio: Yeah. And I think that's breaking the early stage founder math too. I think before a lot of people would be like, well, maybe I should just go be a founder instead of like getting paid.[00:16:39] Yeah. 800 KA million at Google. But if I'm getting paid. Five, 6 million. That's different but[00:16:45] Martin Casado: on. But on the other hand, there's more strategic money than we've ever seen historically, right? Mm-hmm. And so, yep. The economics, the, the, the, the calculus on the economics is very different in a number of ways. And, uh, it's crazy.[00:16:58] It's cra it's causing like a, [00:17:00] a, a, a ton of change in confusion in the market. Some very positive, sub negative, like, so for example, the other side of the, um. The co-founder, like, um, acquisition, you know, mark Zuckerberg poaching someone for a lot of money is like, we were actually seeing historic amount of m and a for basically acquihires, right?[00:17:20] That you like, you know, really good outcomes from a venture perspective that are effective acquihires, right? So I would say it's probably net positive from the investment standpoint, even though it seems from the headlines to be very disruptive in a negative way.[00:17:33] Alessio: Yeah.[00:17:33] What's Underfunded: Boring Software, Robotics Skepticism, and Custom Silicon Economics[00:17:33] Alessio: Um, let's talk maybe about what's not being invested in, like maybe some interesting ideas that you would see more people build or it, it seems in a way, you know, as ycs getting more popular, it's like access getting more popular.[00:17:47] There's a startup school path that a lot of founders take and they know what's hot in the VC circles and they know what gets funded. Uh, and there's maybe not as much risk appetite for. Things outside of that. Um, I'm curious if you feel [00:18:00] like that's true and what are maybe, uh, some of the areas, uh, that you think are under discussed?[00:18:06] Martin Casado: I mean, I actually think that we've taken our eye off the ball in a lot of like, just traditional, you know, software companies. Um, so like, I mean. You know, I think right now there's almost a barbell, like you're like the hot thing on X, you're deep tech.[00:18:21] swyx: Mm-hmm.[00:18:22] Martin Casado: Right. But I, you know, I feel like there's just kind of a long, you know, list of like good.[00:18:28] Good companies that will be around for a long time in very large markets. Say you're building a database, you know, say you're building, um, you know, kind of monitoring or logging or tooling or whatever. There's some good companies out there right now, but like, they have a really hard time getting, um, the attention of investors.[00:18:43] And it's almost become a meme, right? Which is like, if you're not basically growing from zero to a hundred in a year, you're not interesting, which is just, is the silliest thing to say. I mean, think of yourself as like an introvert person, like, like your personal money, right? Mm-hmm. So. Your personal money, will you put it in the stock market at 7% or you put it in this company growing five x in a very large [00:19:00] market?[00:19:00] Of course you can put it in the company five x. So it's just like we say these stupid things, like if you're not going from zero to a hundred, but like those, like who knows what the margins of those are mean. Clearly these are good investments. True for anybody, right? True. Like our LPs want whatever.[00:19:12] Three x net over, you know, the life cycle of a fund, right? So a, a company in a big market growing five X is a great investment. We'd, everybody would be happy with these returns, but we've got this kind of mania on these, these strong growths. And so I would say that that's probably the most underinvested sector.[00:19:28] Right now.[00:19:29] swyx: Boring software, boring enterprise software.[00:19:31] Martin Casado: Traditional. Really good company.[00:19:33] swyx: No, no AI here.[00:19:34] Martin Casado: No. Like boring. Well, well, the AI of course is pulling them into use cases. Yeah, but that's not what they're, they're not on the token path, right? Yeah. Let's just say that like they're software, but they're not on the token path.[00:19:41] Like these are like they're great investments from any definition except for like random VC on Twitter saying VC on x, saying like, it's not growing fast enough. What do you[00:19:52] Sarah Wang: think? Yeah, maybe I'll answer a slightly different. Question, but adjacent to what you asked, um, which is maybe an area that we're not, uh, investing [00:20:00] right now that I think is a question and we're spending a lot of time in regardless of whether we pull the trigger or not.[00:20:05] Um, and it would probably be on the hardware side, actually. Robotics, right? And the robotics side. Robotics. Right. Which is, it's, I don't wanna say that it's not getting funding ‘cause it's clearly, uh, it's, it's sort of non-consensus to almost not invest in robotics at this point. But, um, we spent a lot of time in that space and I think for us, we just haven't seen the chat GPT moment.[00:20:22] Happen on the hardware side. Um, and the funding going into it feels like it's already. Taking that for granted.[00:20:30] Martin Casado: Yeah. Yeah. But we also went through the drone, you know, um, there's a zip line right, right out there. What's that? Oh yeah, there's a zip line. Yeah. What the drone, what the av And like one of the takeaways is when it comes to hardware, um, most companies will end up verticalizing.[00:20:46] Like if you're. If you're investing in a robot company for an A for agriculture, you're investing in an ag company. ‘cause that's the competition and that's surprising. And that's supply chain. And if you're doing it for mining, that's mining. And so the ad team does a lot of that type of stuff ‘cause they actually set up to [00:21:00] diligence that type of work.[00:21:01] But for like horizontal technology investing, there's very little when it comes to robots just because it's so fit for, for purpose. And so we kinda like to look at software. Solutions or horizontal solutions like applied intuition. Clearly from the AV wave deep map, clearly from the AV wave, I would say scale AI was actually a horizontal one for That's fair, you know, for robotics early on.[00:21:23] And so that sort of thing we're very, very interested. But the actual like robot interacting with the world is probably better for different team. Agree.[00:21:30] Alessio: Yeah, I'm curious who these teams are supposed to be that invest in them. I feel like everybody's like, yeah, robotics, it's important and like people should invest in it.[00:21:38] But then when you look at like the numbers, like the capital requirements early on versus like the moment of, okay, this is actually gonna work. Let's keep investing. That seems really hard to predict in a way that is not,[00:21:49] Martin Casado: I think co, CO two, kla, gc, I mean these are all invested in in Harvard companies. He just, you know, and [00:22:00] listen, I mean, it could work this time for sure.[00:22:01] Right? I mean if Elon's doing it, he's like, right. Just, just the fact that Elon's doing it means that there's gonna be a lot of capital and a lot of attempts for a long period of time. So that alone maybe suggests that we should just be investing in robotics just ‘cause you have this North star who's Elon with a humanoid and that's gonna like basically willing into being an industry.[00:22:17] Um, but we've just historically found like. We're a huge believer that this is gonna happen. We just don't feel like we're in a good position to diligence these things. ‘cause again, robotics companies tend to be vertical. You really have to understand the market they're being sold into. Like that's like that competitive equilibrium with a human being is what's important.[00:22:34] It's not like the core tech and like we're kind of more horizontal core tech type investors. And this is Sarah and I. Yeah, the ad team is different. They can actually do these types of things.[00:22:42] swyx: Uh, just to clarify, AD stands for[00:22:44] Martin Casado: American Dynamism.[00:22:45] swyx: Alright. Okay. Yeah, yeah, yeah. Uh, I actually, I do have a related question that, first of all, I wanna acknowledge also just on the, on the chip side.[00:22:51] Yeah. I, I recall a podcast that where you were on, i, I, I think it was the a CC podcast, uh, about two or three years ago where you, where you suddenly said [00:23:00] something, which really stuck in my head about how at some point, at some point kind of scale it makes sense to. Build a custom aic Yes. For per run.[00:23:07] Martin Casado: Yes.[00:23:07] It's crazy. Yeah.[00:23:09] swyx: We're here and I think you, you estimated 500 billion, uh, something.[00:23:12] Martin Casado: No, no, no. A billion, a billion dollar training run of $1 billion training run. It makes sense to actually do a custom meic if you can do it in time. The question now is timelines. Yeah, but not money because just, just, just rough math.[00:23:22] If it's a billion dollar training. Then the inference for that model has to be over a billion, otherwise it won't be solvent. So let's assume it's, if you could save 20%, which you could save much more than that with an ASIC 20%, that's $200 million. You can tape out a chip for $200 million. Right? So now you can literally like justify economically, not timeline wise.[00:23:41] That's a different issue. An ASIC per model, which[00:23:44] swyx: is because that, that's how much we leave on the table every single time. We, we, we do like generic Nvidia.[00:23:48] Martin Casado: Exactly. Exactly. No, it, it is actually much more than that. You could probably get, you know, a factor of two, which would be 500 million.[00:23:54] swyx: Typical MFU would be like 50.[00:23:55] Yeah, yeah. And that's good.[00:23:57] Martin Casado: Exactly. Yeah. Hundred[00:23:57] swyx: percent. Um, so, so, yeah, and I mean, and I [00:24:00] just wanna acknowledge like, here we are in, in, in 2025 and opening eyes confirming like Broadcom and all the other like custom silicon deals, which is incredible. I, I think that, uh, you know, speaking about ad there's, there's a really like interesting tie in that obviously you guys are hit on, which is like these sort, this sort of like America first movement or like sort of re industrialized here.[00:24:17] Yeah. Uh, move TSMC here, if that's possible. Um, how much overlap is there from ad[00:24:23] Martin Casado: Yeah.[00:24:23] swyx: To, I guess, growth and, uh, investing in particularly like, you know, US AI companies that are strongly bounded by their compute.[00:24:32] Martin Casado: Yeah. Yeah. So I mean, I, I would view, I would view AD as more as a market segmentation than like a mission, right?[00:24:37] So the market segmentation is, it has kind of regulatory compliance issues or government, you know, sale or it deals with like hardware. I mean, they're just set up to, to, to, to, to. To diligence those types of companies. So it's a more of a market segmentation thing. I would say the entire firm. You know, which has been since it is been intercepted, you know, has geographical biases, right?[00:24:58] I mean, for the longest time we're like, you [00:25:00] know, bay Area is gonna be like, great, where the majority of the dollars go. Yeah. And, and listen, there, there's actually a lot of compounding effects for having a geographic bias. Right. You know, everybody's in the same place. You've got an ecosystem, you're there, you've got presence, you've got a network.[00:25:12] Um, and, uh, I mean, I would say the Bay area's very much back. You know, like I, I remember during pre COVID, like it was like almost Crypto had kind of. Pulled startups away. Miami from the Bay Area. Miami, yeah. Yeah. New York was, you know, because it's so close to finance, came up like Los Angeles had a moment ‘cause it was so close to consumer, but now it's kind of come back here.[00:25:29] And so I would say, you know, we tend to be very Bay area focused historically, even though of course we've asked all over the world. And then I would say like, if you take the ring out, you know, one more, it's gonna be the US of course, because we know it very well. And then one more is gonna be getting us and its allies and Yeah.[00:25:44] And it goes from there.[00:25:45] Sarah Wang: Yeah,[00:25:45] Martin Casado: sorry.[00:25:46] Sarah Wang: No, no. I agree. I think from a, but I think from the intern that that's sort of like where the companies are headquartered. Maybe your questions on supply chain and customer base. Uh, I, I would say our customers are, are, our companies are fairly international from that perspective.[00:25:59] Like they're selling [00:26:00] globally, right? They have global supply chains in some cases.[00:26:03] Martin Casado: I would say also the stickiness is very different.[00:26:05] Sarah Wang: Yeah.[00:26:05] Martin Casado: Historically between venture and growth, like there's so much company building in venture, so much so like hiring the next PM. Introducing the customer, like all of that stuff.[00:26:15] Like of course we're just gonna be stronger where we have our network and we've been doing business for 20 years. I've been in the Bay Area for 25 years, so clearly I'm just more effective here than I would be somewhere else. Um, where I think, I think for some of the later stage rounds, the companies don't need that much help.[00:26:30] They're already kind of pretty mature historically, so like they can kind of be everywhere. So there's kind of less of that stickiness. This is different in the AI time. I mean, Sarah is now the, uh, chief of staff of like half the AI companies in, uh, in the Bay Area right now. She's like, ops Ninja Biz, Devrel, BizOps.[00:26:48] swyx: Are, are you, are you finding much AI automation in your work? Like what, what is your stack.[00:26:53] Sarah Wang: Oh my, in my personal stack.[00:26:54] swyx: I mean, because like, uh, by the way, it's the, the, the reason for this is it is triggering, uh, yeah. We, like, I'm hiring [00:27:00] ops, ops people. Um, a lot of ponders I know are also hiring ops people and I'm just, you know, it's opportunity Since you're, you're also like basically helping out with ops with a lot of companies.[00:27:09] What are people doing these days? Because it's still very manual as far as I can tell.[00:27:13] Sarah Wang: Hmm. Yeah. I think the things that we help with are pretty network based, um, in that. It's sort of like, Hey, how do do I shortcut this process? Well, let's connect you to the right person. So there's not quite an AI workflow for that.[00:27:26] I will say as a growth investor, Claude Cowork is pretty interesting. Yeah. Like for the first time, you can actually get one shot data analysis. Right. Which, you know, if you're gonna do a customer database, analyze a cohort retention, right? That's just stuff that you had to do by hand before. And our team, the other, it was like midnight and the three of us were playing with Claude Cowork.[00:27:47] We gave it a raw file. Boom. Perfectly accurate. We checked the numbers. It was amazing. That was my like, aha moment. That sounds so boring. But you know, that's, that's the kind of thing that a growth investor is like, [00:28:00] you know, slaving away on late at night. Um, done in a few seconds.[00:28:03] swyx: Yeah. You gotta wonder what the whole, like, philanthropic labs, which is like their new sort of products studio.[00:28:10] Yeah. What would that be worth as an independent, uh, startup? You know, like a[00:28:14] Martin Casado: lot.[00:28:14] Sarah Wang: Yeah, true.[00:28:16] swyx: Yeah. You[00:28:16] Martin Casado: gotta hand it to them. They've been executing incredibly well.[00:28:19] swyx: Yeah. I, I mean, to me, like, you know, philanthropic, like building on cloud code, I think, uh, it makes sense to me the, the real. Um, pedal to the metal, whatever the, the, the phrase is, is when they start coming after consumer with, uh, against OpenAI and like that is like red alert at Open ai.[00:28:35] Oh, I[00:28:35] Martin Casado: think they've been pretty clear. They're enterprise focused.[00:28:37] swyx: They have been, but like they've been free. Here's[00:28:40] Martin Casado: care publicly,[00:28:40] swyx: it's enterprise focused. It's coding. Right. Yeah.[00:28:43] AI Labs vs Startups: Disruption, Undercutting & the Innovator's Dilemma[00:28:43] swyx: And then, and, but here's cloud, cloud, cowork, and, and here's like, well, we, uh, they, apparently they're running Instagram ads for Claudia.[00:28:50] I, on, you know, for, for people on, I get them all the time. Right. And so, like,[00:28:54] Martin Casado: uh,[00:28:54] swyx: it, it's kind of like this, the disruption thing of, uh, you know. Mo Open has been doing, [00:29:00] consumer been doing the, just pursuing general intelligence in every mo modality, and here's a topic that only focus on this thing, but now they're sort of undercutting and doing the whole innovator's dilemma thing on like everything else.[00:29:11] Martin Casado: It's very[00:29:11] swyx: interesting.[00:29:12] Martin Casado: Yeah, I mean there's, there's a very open que so for me there's like, do you know that meme where there's like the guy in the path and there's like a path this way? There's a path this way. Like one which way Western man. Yeah. Yeah.[00:29:23] Two Futures for AI: Infinite Market vs AGI Oligopoly[00:29:23] Martin Casado: And for me, like, like all the entire industry kind of like hinges on like two potential futures.[00:29:29] So in, in one potential future, um, the market is infinitely large. There's perverse economies of scale. ‘cause as soon as you put a model out there, like it kind of sublimates and all the other models catch up and like, it's just like software's being rewritten and fractured all over the place and there's tons of upside and it just grows.[00:29:48] And then there's another path which is like, well. Maybe these models actually generalize really well, and all you have to do is train them with three times more money. That's all you have to [00:30:00] do, and it'll just consume everything beyond it. And if that's the case, like you end up with basically an oligopoly for everything, like, you know mm-hmm.[00:30:06] Because they're perfectly general and like, so this would be like the, the a GI path would be like, these are perfectly general. They can do everything. And this one is like, this is actually normal software. The universe is complicated. You've got, and nobody knows the answer.[00:30:18] The Economics Reality Check: Gross Margins, Training Costs & Borrowing Against the Future[00:30:18] Martin Casado: My belief is if you actually look at the numbers of these companies, so generally if you look at the numbers of these companies, if you look at like the amount they're making and how much they, they spent training the last model, they're gross margin positive.[00:30:30] You're like, oh, that's really working. But if you look at like. The current training that they're doing for the next model, their gross margin negative. So part of me thinks that a lot of ‘em are kind of borrowing against the future and that's gonna have to slow down. It's gonna catch up to them at some point in time, but we don't really know.[00:30:47] Sarah Wang: Yeah.[00:30:47] Martin Casado: Does that make sense? Like, I mean, it could be, it could be the case that the only reason this is working is ‘cause they can raise that next round and they can train that next model. ‘cause these models have such a short. Life. And so at some point in time, like, you know, they won't be able to [00:31:00] raise that next round for the next model and then things will kind of converge and fragment again.[00:31:03] But right now it's not.[00:31:04] Sarah Wang: Totally. I think the other, by the way, just, um, a meta point. I think the other lesson from the last three years is, and we talk about this all the time ‘cause we're on this. Twitter X bubble. Um, cool. But, you know, if you go back to, let's say March, 2024, that period, it felt like a, I think an open source model with an, like a, you know, benchmark leading capability was sort of launching on a daily basis at that point.[00:31:27] And, um, and so that, you know, that's one period. Suddenly it's sort of like open source takes over the world. There's gonna be a plethora. It's not an oligopoly, you know, if you fast, you know, if you, if you rewind time even before that GPT-4 was number one for. Nine months, 10 months. It's a long time. Right.[00:31:44] Um, and of course now we're in this era where it feels like an oligopoly, um, maybe some very steady state shifts and, and you know, it could look like this in the future too, but it just, it's so hard to call. And I think the thing that keeps, you know, us up at [00:32:00] night in, in a good way and bad way, is that the capability progress is actually not slowing down.[00:32:06] And so until that happens, right, like you don't know what's gonna look like.[00:32:09] Martin Casado: But I, I would, I would say for sure it's not converged, like for sure, like the systemic capital flows have not converged, meaning right now it's still borrowing against the future to subsidize growth currently, which you can do that for a period of time.[00:32:23] But, but you know, at the end, at some point the market will rationalize that and just nobody knows what that will look like.[00:32:29] Alessio: Yeah.[00:32:29] Martin Casado: Or, or like the drop in price of compute will, will, will save them. Who knows?[00:32:34] Alessio: Yeah. Yeah. I think the models need to ask them to, to specific tasks. You know? It's like, okay, now Opus 4.5 might be a GI at some specific task, and now you can like depreciate the model over a longer time.[00:32:45] I think now, now, right now there's like no old model.[00:32:47] Martin Casado: No, but let, but lemme just change that mental, that's, that used to be my mental model. Lemme just change it a little bit.[00:32:53] Capital as a Weapon vs Task Saturation: Where Real Enterprise Value Gets Built[00:32:53] Martin Casado: If you can raise three times, if you can raise more than the aggregate of anybody that uses your models, that doesn't even matter.[00:32:59] It doesn't [00:33:00] even matter. See what I'm saying? Like, yeah. Yeah. So, so I have an API Business. My API business is 60% margin, or 70% margin, or 80% margin is a high margin business. So I know what everybody is using. If I can raise more money than the aggregate of everybody that's using it, I will consume them whether I'm a GI or not.[00:33:14] And I will know if they're using it ‘cause they're using it. And like, unlike in the past where engineering stops me from doing that.[00:33:21] Alessio: Mm-hmm.[00:33:21] Martin Casado: It is very straightforward. You just train. So I also thought it was kind of like, you must ask the code a GI, general, general, general. But I think there's also just a possibility that the, that the capital markets will just give them the, the, the ammunition to just go after everybody on top of ‘em.[00:33:36] Sarah Wang: I, I do wonder though, to your point, um, if there's a certain task that. Getting marginally better isn't actually that much better. Like we've asked them to it, to, you know, we can call it a GI or whatever, you know, actually, Ali Goi talks about this, like we're already at a GI for a lot of functions in the enterprise.[00:33:50] Um. That's probably those for those tasks, you probably could build very specific companies that focus on just getting as much value out of that task that isn't [00:34:00] coming from the model itself. There's probably a rich enterprise business to be built there. I mean, could be wrong on that, but there's a lot of interesting examples.[00:34:08] So, right, if you're looking the legal profession or, or whatnot, and maybe that's not a great one ‘cause the models are getting better on that front too, but just something where it's a bit saturated, then the value comes from. Services. It comes from implementation, right? It comes from all these things that actually make it useful to the end customer.[00:34:24] Martin Casado: Sorry, what am I, one more thing I think is, is underused in all of this is like, to what extent every task is a GI complete.[00:34:31] Sarah Wang: Mm-hmm.[00:34:32] Martin Casado: Yeah. I code every day. It's so fun.[00:34:35] Sarah Wang: That's a core question. Yeah.[00:34:36] Martin Casado: And like. When I'm talking to these models, it's not just code. I mean, it's everything, right? Like I, you know, like it's,[00:34:43] swyx: it's healthcare.[00:34:44] It's,[00:34:44] Martin Casado: I mean, it's[00:34:44] swyx: Mele,[00:34:45] Martin Casado: but it's every, it is exactly that. Like, yeah, that's[00:34:47] Sarah Wang: great support. Yeah.[00:34:48] Martin Casado: It's everything. Like I'm asking these models to, yeah, to understand compliance. I'm asking these models to go search the web. I'm asking these models to talk about things I know in the history, like it's having a full conversation with me while I, I engineer, and so it could be [00:35:00] the case that like, mm-hmm.[00:35:01] The most a, you know, a GI complete, like I'm not an a GI guy. Like I think that's, you know, but like the most a GI complete model will is win independent of the task. And we don't know the answer to that one either.[00:35:11] swyx: Yeah.[00:35:12] Martin Casado: But it seems to me that like, listen, codex in my experience is for sure better than Opus 4.5 for coding.[00:35:18] Like it finds the hardest bugs that I work in with. Like, it is, you know. The smartest developers. I don't work on it. It's great. Um, but I think Opus 4.5 is actually very, it's got a great bedside manner and it really, and it, it really matters if you're building something very complex because like, it really, you know, like you're, you're, you're a partner and a brainstorming partner for somebody.[00:35:38] And I think we don't discuss enough how every task kind of has that quality.[00:35:42] swyx: Mm-hmm.[00:35:43] Martin Casado: And what does that mean to like capital investment and like frontier models and Submodels? Yeah.[00:35:47] Why “Coding Models” Keep Collapsing into Generalists (Reasoning vs Taste)[00:35:47] Martin Casado: Like what happened to all the special coding models? Like, none of ‘em worked right. So[00:35:51] Alessio: some of them, they didn't even get released.[00:35:53] Magical[00:35:54] Martin Casado: Devrel. There's a whole, there's a whole host. We saw a bunch of them and like there's this whole theory that like, there could be, and [00:36:00] I think one of the conclusions is, is like there's no such thing as a coding model,[00:36:04] Alessio: you know?[00:36:04] Martin Casado: Like, that's not a thing. Like you're talking to another human being and it's, it's good at coding, but like it's gotta be good at everything.[00:36:10] swyx: Uh, minor disagree only because I, I'm pretty like, have pretty high confidence that basically open eye will always release a GPT five and a GT five codex. Like that's the code's. Yeah. The way I call it is one for raisin, one for Tiz. Um, and, and then like someone internal open, it was like, yeah, that's a good way to frame it.[00:36:32] Martin Casado: That's so funny.[00:36:33] swyx: Uh, but maybe it, maybe it collapses down to reason and that's it. It's not like a hundred dimensions doesn't life. Yeah. It's two dimensions. Yeah, yeah, yeah, yeah. Like and exactly. Beside manner versus coding. Yeah.[00:36:43] Martin Casado: Yeah.[00:36:44] swyx: It's, yeah.[00:36:46] Martin Casado: I, I think for, for any, it's hilarious. For any, for anybody listening to this for, for, for, I mean, for you, like when, when you're like coding or using these models for something like that.[00:36:52] Like actually just like be aware of how much of the interaction has nothing to do with coding and it just turns out to be a large portion of it. And so like, you're, I [00:37:00] think like, like the best Soto ish model. You know, it is going to remain very important no matter what the task is.[00:37:06] swyx: Yeah.[00:37:07] What He's Actually Coding: Gaussian Splats, Spark.js & 3D Scene Rendering Demos[00:37:07] swyx: Uh, speaking of coding, uh, I, I'm gonna be cheeky and ask like, what actually are you coding?[00:37:11] Because obviously you, you could code anything and you are obviously a busy investor and a manager of the good. Giant team. Um, what are you calling?[00:37:18] Martin Casado: I help, um, uh, FEFA at World Labs. Uh, it's one of the investments and um, and they're building a foundation model that creates 3D scenes.[00:37:27] swyx: Yeah, we had it on the pod.[00:37:28] Yeah. Yeah,[00:37:28] Martin Casado: yeah. And so these 3D scenes are Gaussian splats, just by the way that kind of AI works. And so like, you can reconstruct a scene better with, with, with radiance feels than with meshes. ‘cause like they don't really have topology. So, so they, they, they produce each. Beautiful, you know, 3D rendered scenes that are Gaussian splats, but the actual industry support for Gaussian splats isn't great.[00:37:50] It's just never, you know, it's always been meshes and like, things like unreal use meshes. And so I work on a open source library called Spark js, which is a. Uh, [00:38:00] a JavaScript rendering layer ready for Gaussian splats. And it's just because, you know, um, you, you, you need that support and, and right now there's kind of a three js moment that's all meshes and so like, it's become kind of the default in three Js ecosystem.[00:38:13] As part of that to kind of exercise the library, I just build a whole bunch of cool demos. So if you see me on X, you see like all my demos and all the world building, but all of that is just to exercise this, this library that I work on. ‘cause it's actually a very tough algorithmics problem to actually scale a library that much.[00:38:29] And just so you know, this is ancient history now, but 30 years ago I paid for undergrad, you know, working on game engines in college in the late nineties. So I've got actually a back and it's very old background, but I actually have a background in this and so a lot of it's fun. You know, but, but the, the, the, the whole goal is just for this rendering library to, to,[00:38:47] Sarah Wang: are you one of the most active contributors?[00:38:49] The, their GitHub[00:38:50] Martin Casado: spark? Yes.[00:38:51] Sarah Wang: Yeah, yeah.[00:38:51] Martin Casado: There's only two of us there, so, yes. No, so by the way, so the, the pri The pri, yeah. Yeah. So the primary developer is a [00:39:00] guy named Andres Quist, who's an absolute genius. He and I did our, our PhDs together. And so like, um, we studied for constant Quas together. It was almost like hanging out with an old friend, you know?[00:39:09] And so like. So he, he's the core, core guy. I did mostly kind of, you know, the side I run venture fund.[00:39:14] swyx: It's amazing. Like five years ago you would not have done any of this. And it brought you back[00:39:19] Martin Casado: the act, the Activ energy, you're still back. Energy was so high because you had to learn all the framework b******t.[00:39:23] Man, I f*****g used to hate that. And so like, now I don't have to deal with that. I can like focus on the algorithmics so I can focus on the scaling and I,[00:39:29] swyx: yeah. Yeah.[00:39:29] LLMs vs Spatial Intelligence + How to Value World Labs' 3D Foundation Model[00:39:29] swyx: And then, uh, I'll observe one irony and then I'll ask a serious investor question, uh, which is like, the irony is FFE actually doesn't believe that LMS can lead us to spatial intelligence.[00:39:37] And here you are using LMS to like help like achieve spatial intelligence. I just see, I see some like disconnect in there.[00:39:45] Martin Casado: Yeah. Yeah. So I think, I think, you know, I think, I think what she would say is LLMs are great to help with coding.[00:39:51] swyx: Yes.[00:39:51] Martin Casado: But like, that's very different than a model that actually like provides, they, they'll never have the[00:39:56] swyx: spatial inte[00:39:56] Martin Casado: issues.[00:39:56] And listen, our brains clearly listen, our brains, brains clearly have [00:40:00] both our, our brains clearly have a language reasoning section and they clearly have a spatial reasoning section. I mean, it's just, you know, these are two pretty independent problems.[00:40:07] swyx: Okay. And you, you, like, I, I would say that the, the one data point I recently had, uh, against it is the DeepMind, uh, IMO Gold, where, so, uh, typically the, the typical answer is that this is where you start going down the neuros symbolic path, right?[00:40:21] Like one, uh, sort of very sort of abstract reasoning thing and one form, formal thing. Um, and that's what. DeepMind had in 2024 with alpha proof, alpha geometry, and now they just use deep think and just extended thinking tokens. And it's one model and it's, and it's in LM.[00:40:36] Martin Casado: Yeah, yeah, yeah, yeah, yeah.[00:40:37] swyx: And so that, that was my indication of like, maybe you don't need a separate system.[00:40:42] Martin Casado: Yeah. So, so let me step back. I mean, at the end of the day, at the end of the day, these things are like nodes in a graph with weights on them. Right. You know, like it can be modeled like if you, if you distill it down. But let me just talk about the two different substrates. Let's, let me put you in a dark room.[00:40:56] Like totally black room. And then let me just [00:41:00] describe how you exit it. Like to your left, there's a table like duck below this thing, right? I mean like the chances that you're gonna like not run into something are very low. Now let me like turn on the light and you actually see, and you can do distance and you know how far something away is and like where it is or whatever.[00:41:17] Then you can do it, right? Like language is not the right primitives to describe. The universe because it's not exact enough. So that's all Faye, Faye is talking about. When it comes to like spatial reasoning, it's like you actually have to know that this is three feet far, like that far away. It is curved.[00:41:37] You have to understand, you know, the, like the actual movement through space.[00:41:40] swyx: Yeah.[00:41:40] Martin Casado: So I do, I listen, I do think at the end of these models are definitely converging as far as models, but there's, there's, there's different representations of problems you're solving. One is language. Which, you know, that would be like describing to somebody like what to do.[00:41:51] And the other one is actually just showing them and the space reasoning is just showing them.[00:41:55] swyx: Yeah, yeah, yeah. Right. Got it, got it. Uh, the, in the investor question was on, on, well labs [00:42:00] is, well, like, how do I value something like this? What, what, what work does the, do you do? I'm just like, Fefe is awesome.[00:42:07] Justin's awesome. And you know, the other two co-founder, co-founders, but like the, the, the tech, everyone's building cool tech. But like, what's the value of the tech? And this is the fundamental question[00:42:16] Martin Casado: of, well, let, let, just like these, let me just maybe give you a rough sketch on the diffusion models. I actually love to hear Sarah because I'm a venture for, you know, so like, ventures always, always like kind of wild west type[00:42:24] swyx: stuff.[00:42:24] You, you, you, you paid a dream and she has to like, actually[00:42:28] Martin Casado: I'm gonna say I'm gonna mar to reality, so I'm gonna say the venture for you. And she can be like, okay, you a little kid. Yeah. So like, so, so these diffusion models literally. Create something for, for almost nothing. And something that the, the world has found to be very valuable in the past, in our real markets, right?[00:42:45] Like, like a 2D image. I mean, that's been an entire market. People value them. It takes a human being a long time to create it, right? I mean, to create a, you know, a, to turn me into a whatever, like an image would cost a hundred bucks in an hour. The inference cost [00:43:00] us a hundredth of a penny, right? So we've seen this with speech in very successful companies.[00:43:03] We've seen this with 2D image. We've seen this with movies. Right? Now, think about 3D scene. I mean, I mean, when's Grand Theft Auto coming out? It's been six, what? It's been 10 years. I mean, how, how like, but hasn't been 10 years.[00:43:14] Alessio: Yeah.[00:43:15] Martin Casado: How much would it cost to like, to reproduce this room in 3D? Right. If you, if you, if you hired somebody on fiber, like in, in any sort of quality, probably 4,000 to $10,000.[00:43:24] And then if you had a professional, probably $30,000. So if you could generate the exact same thing from a 2D image, and we know that these are used and they're using Unreal and they're using Blend, or they're using movies and they're using video games and they're using all. So if you could do that for.[00:43:36] You know, less than a dollar, that's four or five orders of magnitude cheaper. So you're bringing the marginal cost of something that's useful down by three orders of magnitude, which historically have created very large companies. So that would be like the venture kind of strategic dreaming map.[00:43:49] swyx: Yeah.[00:43:50] And, and for listeners, uh, you can do this yourself on your, on your own phone with like. Uh, the marble.[00:43:55] Martin Casado: Yeah. Marble.[00:43:55] swyx: Uh, or but also there's many Nerf apps where you just go on your iPhone and, and do this.[00:43:59] Martin Casado: Yeah. Yeah. [00:44:00] Yeah. And, and in the case of marble though, it would, what you do is you literally give it in.[00:44:03] So most Nerf apps you like kind of run around and take a whole bunch of pictures and then you kind of reconstruct it.[00:44:08] swyx: Yeah.[00:44:08] Martin Casado: Um, things like marble, just that the whole generative 3D space will just take a 2D image and it'll reconstruct all the like, like[00:44:16] swyx: meaning it has to fill in. Uh,[00:44:18] Martin Casado: stuff at the back of the table, under the table, the back, like, like the images, it doesn't see.[00:44:22] So the generator stuff is very different than reconstruction that it fills in the things that you can't see.[00:44:26] swyx: Yeah. Okay.[00:44:26] Sarah Wang: So,[00:44:27] Martin Casado: all right. So now the,[00:44:28] Sarah Wang: no, no. I mean I love that[00:44:29] Martin Casado: the adult[00:44:29] Sarah Wang: perspective. Um, well, no, I was gonna say these are very much a tag team. So we, we started this pod with that, um, premise. And I think this is a perfect question to even build on that further.[00:44:36] ‘cause it truly is, I mean, we're tag teaming all of these together.[00:44:39] Investing in Model Labs, Media Rumors, and the Cursor Playbook (Margins & Going Down-Stack)[00:44:39] Sarah Wang: Um, but I think every investment fundamentally starts with the same. Maybe the same two premises. One is, at this point in time, we actually believe that there are. And of one founders for their particular craft, and they have to be demonstrated in their prior careers, right?[00:44:56] So, uh, we're not investing in every, you know, now the term is NEO [00:45:00] lab, but every foundation model, uh, any, any company, any founder trying to build a foundation model, we're not, um, contrary to popular opinion, we're

Le sport de haut niveau repose aujourd'hui sur l'intervention de nombreux acteurs, toujours plus spécialisés : entraîneurs, médecins, préparateurs physiques et mentaux, kinésithérapeutes, ostéopathes, nutritionnistes, etc. Dans les sports équestres de très haut niveau, cette organisation est multipliée par deux, puisqu'une équipe est dédiée à l'athlète cheval - comprenant notamment vétérinaires et maréchaux-ferrants - tandis qu'une autre entoure le cavalier.Parmi ces acteurs, un rôle essentiel se joue dans l'ombre de la performance : celui des grooms. Majoritairement féminines, elles sont garantes de l'intégrité physique et mentale des chevaux à travers les soins quotidiens qu'elles leur apportent, aussi bien à l'entraînement qu'en compétition.Dans ce podcast, Zinnia Guittin, doctorante en sociologie à la FFE, et Vanina Deneux-Le Barh, chercheuse à l'IFCE, montrent que le travail des grooms dépasse largement le seul soin des chevaux. Véritables bras droits des cavaliers, elles assument la responsabilité des chevaux à chaque étape - du box au camion, jusqu'aux terrains de compétition - afin de libérer les cavaliers de nombreuses contraintes et leur permettre d'aborder les épreuves dans les meilleures conditions. Ce faisant, elles assument une charge mentale importante et des conditions de travail souvent exigeantes, encore insuffisamment reconnues par les acteurs des sports équestres.Pour aller plus loin :• Fiche équipédia – Le métier de groom• Page web – British Grooms Association• Podcast - Ép 27 | La place des femmes dans la filière équine – Vanina Deneux, Charlène Lourd & Pauline Basquin • Formation IFCE – Groom équin / Groom international Si vous souhaitez en savoir plus sur le sujet, rendez-vous sur notre site internet equipedia.ifce.fr où vous trouverez tous les travaux de nos experts. Vous pouvez aussi nous rejoindre sur notre groupe Facebook équipédia, sciences et innovations équines pour plus de contenus. Pour ne manquer aucun épisode, abonnez-vous, partagez, commentez et n'hésitez pas à laisser 5 étoiles sur Apple Podcasts et Spotify.Hébergé par Ausha. Visitez ausha.co/politique-de-confidentialite pour plus d'informations.

In this episode, we talk with Heather Matthews, Director of Communications at Kappa Delta. She has been one of the prominent voices discussing the report "The Next Generation of Sorority Members: A Market and Persona Research Study," which was produced by the Foundation for Fraternal Excellence. We discuss the persona research and how campus Panhellenics can be improving the way they market the experience to a new generation of prospective members. The FFE report can be downloaded at https://foundationfe.org/sorority-market-persona-research/

AI isn't here to replace you—it's here to release you from the repetitive, time-sucking tasks that drain your creativity and cut into your margins. In this episode, you'll discover how the most successful designers are already leveraging AI to reclaim hours in their week, streamline operations, and ignite their creative process—all while keeping the human touch at the forefront of their design business. Melissa breaks down the 15 most impactful ways you can use AI right now across four essential areas of your practice: design discovery, administration, marketing, and design delivery. You'll walk away with actionable strategies and inspiring ideas to automate smarter, serve your clients better, and create more space to enjoy your life and business. AI isn't the future—it's your secret weapon now. IN THIS EPISODE, YOU WILL HEAR: (01:23) How AI can enhance your design discovery process without losing your personal intuition (07:32) Why admin is costing you time, energy, and profit—and how AI can take it off your plate (16:33) An invite to the VIP Designer Branding and Marketing Reboot Retreat in Scottsdale (18:21) The best AI tools for content ideation, SEO, and video script support that match your tone (24:40) How AI can accelerate rendering and visualization while enhancing your design process (29:11) Use AI for FF&E specs and product recommendations to save hours on sourcing SUPPORTING RESOURCES: Inbox Zapper Unroll.Me VIP Designer Branding and Marketing Reboot Retreat When you're ready to step into a bigger vision in your design business and create exceptional results and celebrations, book-a-call to explore how coaching can take you there faster, with a solid plan, proven process, and smart strategies.

Jamison and Lexy break down a fascinating Denver listing — the Lumber Baron Inn & Gardens — to explain how hospitality really pencils out. They cover “keys” vs. “doors,” what 1890s charm costs in maintenance, and why small boutique inns rarely support on-site management. Then they zoom out to today's housing market: why spring home sales fell despite record prices, what that means for buyer affordability and seller expectations, and how Taylor Morrison's $3 billion build-to-rent initiative signals long-term confidence in rental living. What they cover: Hospitality math → revenue, occupancy, FF&E, and risk vs. return Multifamily vs. STR: steady cash flow, lower intensity Single-family market correction and “strike price” psychology The rise of build-to-rent and what it means for investors ⚠️ Disclaimer: This episode is for informational purposes only and not tax, legal, or investment advice. Always consult qualified professionals about your specific situation.

In this episode we chit chat to Jonathan Riggs of Franklin Farms East, a multi generation company dedicated to dairy and mix powders and powdered products.A new exhibitor at Conecon this year, Jonathan explains the benefits and options of using powdered dairy products in your business.Learn more about FFE at the following link:https://www.franklinfarmseast.comFor information about the North American Ice Cream Assoc, and how you can open and grow your ice cream business with a community that will support you, go to https://icecreamassociation.org/

In dieser spannenden Paneldiskussion der FfE-Energietage dreht sich alles um die Rolle von Wasserstoff in der Praxis. Ist er tatsächlich schon in der Realität angekommen oder steckt die Branche noch in den Startlöchern? Moderiert wird die Diskussion von Simon Pichlmaier (Head of Hydrogen and Synthetic Energy Carriers, FfE). Auf dem Podium begrüßen wir hochkarätige Gäste: Hans-Joachim Polk  (Vorstand, VNG), Eva Maria Dichtl  (Strategic Project Development PtX, ENERTRAG), Maren Preuß (Head of Business Development, Atmen) und Thomas Zorn (Managing Director, Tyczka Hydrogen). Zum Einstieg liefert Tapio Schmidt-Achert (Senior Research Consultant, FfE) einen Impulsvortrag, der die Diskussion eröffnet und die wichtigsten Fragen auf den Punkt bringt. Falls ihr Lust auf mehr Diskussionen der Energietage habt, freuen wir uns über euer Feedback! Viel Spaß beim Zuhören!

Philipp macht Sommerpause - daher springt Nele (Senior Research Consultant | Electricity Market Design Expert, FfE) ein und hat mit Serafin die spannendsten Nachrichten der letzten Tage zusammen gesucht. Überblick: Weg frei für CCS und CCU - mit dem Energiepaket wurden auch die Änderungen zum CCS-Gesetz vom Bundeskabinett beschlossen Entwurf zum Stromsteuergesetz verstetigt die Entlastungen und führt eine neue Definition für Stromspeicher ein Wirtschaftsministerin Reiche stellt die Förderung neuer kleiner Photovoltaikanlagen infrage Ausschreibung für Offshore-Windflächen in der Nordsee mit 2,5 GW ohne Gebote Weltgrößtes Windkraftwerk in China installiert Quallen legen AKW in Frankreich lahm ACER veröffentlicht Methodik zur Ermittlung des Flexibilitätsbedarf Steinkohlekraftwerk der Steag weiterhin systemrelevant   Lesetipps:  Mit Energiespeichern zu einer günstigeren Energiewende? – Leibniz Universität Hannover  KfW Research: Elektroautos nehmen Fahrt auf | KfW Wood Mackenzie Analyse zu Dunkelflauten   Kontakt: X (redispatch_pod), LinkedIn (Redispatch)

Moleküle als entscheidende Partner in der Energietransformation: CCU und negative Emissionen – Gamechanger oder Endgegner? Andrej Guminski (Geschäftsführer der FfE) hat eingeladen um über eines seiner Lieblingsthemen zu sprechen. Seiner Einladung gefolgt sind Malte Feucht (Founder & CEO, Phlair), Katharina Fey (Policy Officer for Carbon Management, NABU), Holger Franke (Director Business Development, MVV Umwelt GmbH) und Ralf Seid (Managing Director, Gunvor). Der Impuls zu Beginn der Diskussion wird von Amanda Pleier (Senior Research Consultant, FfE) vorgetragen.

You are being lied to.   When it comes to your health and fitness.   Not intentionally, at least in most cases, but mainly by the ignoramus known as the Fake Fitness Experts.   They are fed propoganda and because their god with a little g, of science, tells them it's so, they start spewing it to anyone that will listen.   When it comes down to it, if you really press them, they will refer to self results and experiences.  Most of the times, these FFE are born with a good body or they are highly enhanced.   Anyways, in this episode, I cover some of the biggest lies that I figured out over the past 27 years.  Believe them or not, but look into them.  Actual do some digging.  You will probably be suprised.   Enjoy and share!   Be Unconventional, Kyle aka Panda Man P.S. - If you are fed up with your lack of results or want to elevate yourself to a superior level of mind, body and spirit, or both, shoot me a text and we can have chat as to what you want to do, what I do and if we are a good fit to work together.  908-229-6666

La Fédération Équestre Internationale (FEI), la Fédération Française d'Équitation (FFE) et l'Institut Français du Cheval et de l'Équitation (IFCE) ont collaboré pour optimiser le bien-être des chevaux tout en préservant l'excellence dans la pratique de la voltige.Dans ce podcast, Sophie Biau, ingénieure de recherche au Plateau Technique IFCE de Saumur, et François Athimon, conseiller technique national en charge de la discipline de la voltige équestre de la FFE, présentent la genèse de cette collaboration jusqu'à l'évolution d'un point du règlement de la voltige équestre par la FEI en 2023.Le projet baptisé Vaultireins a permis de tester plusieurs types d'enrênements avec un échantillon de 40 chevaux de voltige de niveau international. Les résultats de cette étude ont constitué une base de réflexion pour la FEI, contribuant à une évolution du règlement : l'autorisation en compétition d'un type d'enrênement jusque-là limité à l'échauffement. Ce podcast offre également l'opportunité de repréciser la dimension multidimensionnelle du bien-être du cheval de sport, enjeu central et prioritaire pour les instances équestres.Pour aller plus loin :• Article scientifique - Rein tensions and behaviour with five rein types in international-level vaulting horses• Présentation du projet en vidéo - Research project Vaultireins • Vidéo équipe de France de voltige équestre - Team test voltige Bern • Document - Règlement de la discipline de la voltige équestre • Document - Grille de notation de la discipline de la voltige équestre Si vous souhaitez en savoir plus sur le sujet, rendez-vous sur notre site internet equipedia.ifce.fr où vous trouverez tous les travaux de nos experts. Vous pouvez aussi nous rejoindre sur notre groupe Facebook équipédia, sciences et innovations équines pour plus de contenus. Pour ne manquer aucun épisode, abonnez-vous, partagez, commentez et n'hésitez pas à laisser 5 étoiles sur Apple Podcasts et Spotify.Hébergé par Ausha. Visitez ausha.co/politique-de-confidentialite pour plus d'informations.

In this episode, guest host Don Davis joins Lars Jensen to unpack what he calls the most drastic market swing since the financial crisis. Spot quotes from Asia to the USWC surged—then plummeted in real-world execution, with a $1,500 per FFE drop in just one week. Lars breaks down the data gap between quotes and actual bookings, and how mismatched timing between demand and capacity triggered a rapid unwinding. They also explore the geopolitical implications of rising Middle East tensions and how it could impact shipping lanes and oil prices. A must-listen for anyone watching rates, risk, and reliability in today's supply chain.

In dieser Folge sitzt Nele Maas (Senior Research Consultant | Electricity Market Design Expert, FfE) mit Philipp vor den Mikros und blättert durch die Nachrichten. Serafin entspannt sich derweil. Überblick: Nahostkonflikt wirkt sich auf Energiemarkt aus, EU-Sanktionspaket enthält Transaktionsverbot für EU-Akteure an Nord Stream 1 und 2 sowie Einfuhrverbot von raffinierten Produkten aus Russland, Studien analysieren Negativstunden und EE-Marktwerte, Balkonkraftwerke überschreiten Marke von 1 Mio., Spanische Regierung veröffentlicht Bericht zum iberischen Black-Out, EU-KOM veröffentlicht Papier zur vorausschauenden Netzplanung In Erfurt entsteht eine Elektrolyseur-Fabrik, Munich Re tritt aus Klimabündnissen aus, Lesetipps Lesetipps: EPICO (2025): Strengthening the EU ETS 2 through Revenue Frontloading  IEA (2025): Energy and AI Observatory   Quellen: Bundesrechnungshof (2025): Bericht nach § 99 BHO  energate messenger (2025): Erfurt bekommt Elektrolyseur-Gigafabrik  enervis (2025): Kurzstudie – Zukünftige Marktwertentwicklung erneuerbarer Energien bis 2028  European Commission (2025): EU guidance on ensuring electricity grids are fit for the future  Europäische Kommission (2025): Pressemitteilung zum 18. Russland-Sanktionspaket  FfE (2025): Deutsche Strompreise an der Börse EPEX Spot im Jahr 2024  FfE (2025): Europäische Day-Ahead-Strompreise im Jahr 2024  ICE_EUA 2 Futures Pricing  pv magazine (2025): Marktwert Solar sinkt unter 2 Cent im Mai  Tagesspiegel Background (2025): Furcht vor Beeinträchtigung der Energielieferrouten durch Krieg in Nahost  Gobierno de Espana (2025): Versión no confidencial del informe del comité para el análisis de las circunstancias que concurrieron en la crisis de electricidad del 28 de abril de 2025  Christoph Maurer auf X: „Die spanische Regierung hat ihren Bericht zum Blackout auf der iberischen Halbinsel am 28. April vorgelegt. Auf 180 Seiten werden die Ereignisse rekonstruiert. Eine maschinenübersetzte Version hat @LionHirth auf LinkedIn bereitgestellt https://t.co/SAihXuMWrU Was steht drin?

In this episode, I reveal why systems are the secret sauce behind every confident, growing design studio. Learn what systems actually are (hint: it's not complicated tech stacks), discover the top three systems every interior designer needs, and understand how creating repeatable processes transforms your business from chaotic to scalable. If you've ever thought "I'm so busy but don't know where my time is going," this episode is for you.Hope you enjoy the episodeBeth xxIn this essential episode, Beth reveals why systems are the secret sauce behind every confident, growing design studio. Learn what systems actually are (hint: it's not complicated tech stacks), discover the top three systems every interior designer needs, and understand how creating repeatable processes transforms your business from chaotic to scalable. If you've ever thought "I'm so busy but don't know where my time is going," this episode is for you.What Systems Actually AreLet's demystify systems because they don't mean complicated tech stacks or having your office look perfect with lots of folders and everything organised.A system is a simple, repeatable way of doing something in your business. That might be how you onboard a client, how you request trade quotes, how you name your files, or even how you brief your VA each Monday. It's about doing things in a consistent, thoughtful and documented way so you're not reinventing the wheel every time.Why Systems Are the Secret SauceIf you're aiming for growth—whether that's taking on more clients, growing your team, or just creating more space in your week—systems are what make that possible.You cannot scale when you can't repeat. Here's why systems are behind every confident growing studio:They Create TimeWhen you know what needs to happen and how, you cut down on decision fatigue, double handling, and client miscommunication. Less faffing around, more designing.They Make Delegation PossibleYou can't hand over your inbox or client onboarding or FF&E tracking if it only lives in your head. Systems let other people step in and help without everything falling over.They Reduce MistakesIf every install day has a checklist and every sourcing doc follows a process, you're far less likely to forget the small things. Your future self will love you for the systems you put in place.They Increase Client ConfidenceClients notice when things feel clear and organised. A streamlined onboarding, consistent communication, and tidy invoicing equals a better client experience, which equals more referrals.The Top Three Systems Every Design Studio NeedsYou don't need hundreds of standard operating procedures to start seeing results. Here are three foundational systems that every interior design studio should have:Clear and Concise Onboarding SystemThis includes welcome email templates, service agreements and invoice process, key dates or project milestones, and a way to educate the client on how you work. This sets the tone from day one and immediately puts you in the driver's seat.Repeatable Project WorkflowMap out your design phases: concept, development, documentation, procurement, install. Then outline what happens at each stage. What's delivered? What's needed from the client? What internal steps happen?Communication SystemHow do clients contact you? When do they get updates? Is there a regular check-in or presentation rhythm? You're allowed to set boundaries and expectations. When you communicate consistently, you don't just manage the work, you manage the relationship.The Investment That Pays You BackYes, setting up systems does take time upfront. But you know what takes more time? Chasing unpaid invoices, digging through old emails to find that spec, answering the same client question over and over again.Systems pay you back every single day. They are your team before you have a team, and they're the foundation for every future version of your business.Getting StartedIf you're feeling maxed out or dreaming of scaling or just sick of doing the same things over and over, start with one system. One repeatable process you can tighten up, template, and streamline.Because growth isn't about doing more, it's about doing the right things in the right order with less friction. And systems, they're the secret to that.This episode is essential for interior designers who want to move from chaos to clarity and build a business that can grow without burning them out. Want to work together? Here are the ways I can help you in your business. 1.Sign up to our MAILING LIST where each month you will receive helpful business tips straight to your inbox 2. Start a HEALTH CHECK today. We will work together for 8 weeks and improve your systems and processes.I only have 8 spots available every month. 3. Start my course THE PROCESS so you know exactly what to do when in your interior design studio. 4. Have a look at THE RESOURCE STOCKROOM - this is where you will find our short courses and free resources to help you run a better interior design studio 5. Want to use our tool MTTD in your studio? Start your FREE 30 DAY TRIAL today.

Your Path to Freedom: The Freedom Formula Experience with Lindsey Nichol THE PROBLEM: Trapped in the Cycle You wake up every morning with that familiar heaviness. Another day of obsessing over food, second-guessing every bite, and feeling like you're never doing recovery "right." Despite your best efforts, you feel stuck in an endless cycle: You're exhausted from constantly thinking about food and your body You feel like you should be "further along" in recovery by now Traditional treatment gave you tools, but you struggle to apply them in real life You're tired of having the same conversations with yourself day after day You're living in "the gap" – always focusing on how far you still have to go, never acknowledging how far you've come You feel isolated because nobody seems to truly understand what you're going through You wonder if complete freedom is even possible for someone like you The worst part? You're doing this alone. You're piecing together advice from books, podcasts, and social media, but without consistent guidance from someone who's actually walked this path, you keep falling back into the same patterns. THE SOLUTION: The Freedom Formula Experience! Girl, I've been exactly where you are. I know what it's like to feel trapped in an eating disorder, to try everything and still feel stuck, to wonder if you'll ever feel normal around food again. That's why I've created my 1:1 Recovery Coaching program – a personalized approach designed to help you break free from food obsession and finally experience the freedom you deserve. Unlike generic programs or traditional therapy alone, my coaching: Is tailored specifically to YOUR unique struggles, patterns, and recovery phase Combines practical tools with deep mindset work to address the root causes of your disorder Focuses on real-life implementation, not just concepts Offers consistent support between sessions when triggers and challenges arise Brings in the spiritual dimension often missing from traditional approaches Draws from my personal experience of complete recovery – I'm not speaking from theory, but from LIVING this transformation Through our work together, we'll untangle the complex web of your eating disorder – addressing not just the food behaviors, but the perfectionism, people-pleasing, and "never enough" mindset that keeps you trapped. THE TRANSFORMATION: What You'll Gain Working with me isn't just about stopping behaviors – it's about reclaiming your entire life. Here's what my clients experience: Freedom from the constant mental chatter about food, calories, and body size The ability to eat intuitively without rules, restriction, or compensatory behaviors A compassionate relationship with yourself, replacing the harsh inner critic Skills to manage difficult emotions without using food The confidence to show up authentically in relationships instead of hiding behind perfectionism A renewed sense of purpose beyond your body and appearance The ability to live in "the gain" – celebrating progress and practicing self-compassion The joy of redirecting all that mental energy toward the things that truly matter to you Imagine waking up and not having food be your first thought. Imagine enjoying meals with loved ones without anxiety. Imagine having the mental space to pursue your passions. This isn't just possible – it's what I help my clients achieve every day. You can find more about how to apply for the FFE here: https://www.herbestself.co/services  xo, lindsey Find All the Things -＞ www.herbestself.co ______ Coach with Me -＞Client Application ______ Email me directly -> info@lindseynichol.com ______ Join the free FB community -> www.herbestselfsociety.com ______ Need a helping hand guiding you girl!? You don't have to do this alone! Step 1: Go all IN! Decide to commit to yourself & your future! Do it scared girlfriend. Just do it! Step 2: Apply for limited 1:1 & let's work together -> Client Application Step 3: Leverage the FB community for support & stay tuned for all the resources up & coming to help serve you! YOU TOTALLY GOT THIS! * While I am a certified health coach, anorexia survivor & eating disorder recovery coach, I do not intend the use of this message to serve as medical advice. Please refer to the disclaimer here in the show & be sure to contact a licensed clinical provider if you are struggling with an eating disorder.

Überblick: Emissionsfaktoren auf neuer Plattform Green Grid Compass abrufbar, Clean Industrial Deal veröffentlicht, Uckermarkleitung in Betrieb genommen, 100 Mrd. € für das französische Übertragungsnetz geplant, Letzte Kohlekraftwerk in Bayern vom Netz genommen, BYD erhält Zuschlag für Mega-Projekt in Saudi-Arabien, 100 GW-Solarpark in China geplant, 1,2 Mrd. € für spanische Wasserstoffprojekte bewilligt, BayWa verkauft Anteile der Tochter BayWa re., Lesetipps, Personalie der Woche Lesetipps: EliaGroup, Tennet, FfE (2024): Green Grid Compass IEA (2025): Electricity 2025 Agora Energiewende (2025): Ein neues Investitionsinstrument für Wind und Solaranlagen Quellen: 50Hertz (2025): Uckermarkleitung Business Insider (2025): BYD erhält Zuschlag für Mega-Projekt in Saudi-Arabien BR 24 (2025): Kohleausstieg: Letztes Großkraftwerk in Bayern hört jetzt auf Hidrogeno renovables valles (2025): PROPUESTA DE RESOLUCIÓN PROVISIONAL Kunststoff Magazin (2025): Clean Industrial Deal der EU: Weniger Bürokratie, günstigere Energie - Kunststoff Magazin manager (2025): BayWa gibt Mehrheit an Wind- und Solar-Projekttochter ab RTE (2025): Le schéma décennal de développement du réseau  Wirtschaftswoche (2025): China: In der Wüste entsteht das größte Solarkraftwerk der Welt Kontakt: X (redispatch_pod), LinkedIn (Redispatch)

Unser Gast auf der E-world steht fest! Stefan Kapferer (CEO von 50Hertz) wird uns in der Podcast Lounge besuchen. Kommt vorbei! Am Mittwoch, dem 12.02.2025, von 15:00 bis 15:45 Uhr (Link zum Ticketshop E-world). Überblick: Gasversorgung trotz Winter und Transit-Stopp durch Ukraine stabil, Deutsche Strompreise im Jahr 2024, Jahr 2024 1,6°C über dem vorindustriellen Mittel, Deutsche THG-Emissionen sinken 2024 dank Energiewirtschaft, 18,5 Milliarden Euro Einnahmen aus CO2-Bepreisung erzielt, Neuzulassungen elektrischer Autos sinkt um 27,4 %, Kosten für Engpassmanagement 2024 deutlich geringer als 2023, Power2Heat-Anlage nach dem Prinzip "Nutzen statt Abregeln" in Betrieb genommen, Bayerische Regierung möchte Klimaneutralität 2040 kippen (laut Aiwanger), Verkauf von Uniper in Erwägung gezogen, Zweite H2Global Ausschreibung genehmigt, Normen zu Anerkennung von RFNBOs final anerkannt, Daten der Abwärmeplattform veröffentlicht: ungenutzte industrielle Abwärme beträgt 160 TWh, Regulatorische Änderungen im Jahr 2025 Lesetipps: Agora Energiewende (2024): Klimaneutrales Deutschland Agora Energiewende (2024): Investitionen für ein Klimaneutrales Deutschland Quellen: 50Hertz (2025): Power-to-Heat: Leipziger Stadtwerke und 50Hertz nehmen Anlage zur effizienten Umwandlung von Ökostrom in Fernwärme in Betrieb Agora Energiewende (2025): Die Energiewende in Deutschland: Stand der Dinge 2024 BAFA (2025): Plattform für Abwärme BMWK (2025): Wichtiger Schritt vorwärts – EU-Kommission genehmigt zweite Ausschreibung in H2Global zum Ankauf von grünen Wasserstoffprodukten BR24 (2025): Bayerns Klimaziel im Kabinett schon vor Wochen gekippt Copernicus (2025): Global Climate Highlights 2024 DEHSt (2025): Berichtsphase EU-ETS 2 (2024-2026) FfE (2025): Deutsche Strompreise an der Börse EPEX Spot im Jahr 2024 Handelsblatt (2025): Bund lotet offenbar Komplettverkauf von Uniper aus IHK Mittlerer Niederrhein (2025): Neuerungen 2025 im Energie- und Umweltbereich KBA (2025): Fahrzeugzulassungen im Dezember 2024 - Jahresbilanz Maren Preuß (2025): RNFBO hydrogen activity Netztransparenz (2025): Marktwertübersicht Umweltbundesamt (2025): Einnahmen aus dem Emissionshandel erneut auf Rekordniveau Umweltbundesamt (2025): Einnahmen aus dem Emissionshandel erneut auf Rekordniveau Verbraucherzentrale (2025): Neues in 2025 Kontakt: X (redispatch_pod), LinkedIn (Redispatch)

  In this episode of 'Inspire to Lead,' host Talia Mashiach converses with Avigail, a multifaceted professional and volunteer. With a robust background in interior design, Avigail shares her experiences from running a bustling design firm and a procurement company to being the COO of Hatzolah Air, a volunteer-driven emergency air ambulance organization. She emphasizes the importance of a supportive family, particularly her husband, in managing her diverse responsibilities. Avigail reveals her strategies for balancing professional, community, and family obligations, and offers insights into maintaining a purposeful and fulfilling life. She also touches on the profound impact her volunteer work has on her children and discusses the importance of embracing opportunities and learning from mistakes. Join the conversation to be inspired by Avigail's unwavering optimism, resilience, and commitment to living a meaningful life.   00:00 Welcome to Inspire to Lead 01:32 Introducing Avigail 02:33 Balancing Family and Career 04:42 The Role of Support Systems 06:09 Shabbos and Family Time 07:42 Delegating and Hosting 09:56 Joining Hatzolah Air 14:04 Finding Meaning in Work 19:52 A Heartwarming Story 23:45 Interviewing the Children: A New Series Idea 24:15 Balancing Hatzolah Air and Daily Life 27:12 Empowering Your Team for Success 30:00 Discovering Your Superpower 33:51 Embracing Opportunities and Learning from Mistakes 39:41 Living with Emunah: Finding Inspiration 41:34 Final Thoughts and Words of Wisdom         About Avigail: Avigail Eisenstadt is the CEO and Founder of AE Design Group, a WMBE-certified interior design firm that offers a seamless blend of refined elegance and innovative design for commercial, healthcare, hospitality, and multi-family projects. With 15 years of experience in the industry, Avigail has led numerous successful projects both domestically and internationally, delivering exceptional value and quality to her clients.   In addition to her role as CEO of AE Design Group, Avigail also leads Design Source Group, a procurement company specializing in FF&E purchasing and logistics for construction and renovation projects nationwide. She leverages her extensive network of handpicked vendors and partners to provide unparalleled access to the finest products at the most competitive prices.   Avigail is also a NYS Certified EMT and the Chief Operating Officer of Hatzolah Air, a charitable air ambulance organization that conducts life-saving rescue missions worldwide. Alongside her husband, Rabbi Akiva Eisenstadt, she serves as the Rebbetzin of their kiruv community in Manhattan Beach, Brooklyn. Together, they are dedicated to creating a welcoming environment for outreach, inspiring and guiding individuals in their Jewish journey, whether they are exploring their roots or seeking deeper connections. Avigail balances her professional commitments with her personal dedication to the community, bringing grace and dedication to every aspect of her life.     LinkedIn  https://www.linkedin.com/in/avigaileisenstadt   Instagram @aedesigngroupllc https://www.instagram.com/aedesigngroupllc/   Powered By Roth & Co The JWE For guest suggestions, please email Talia: podcast@thejwe.org

Presidenta de la Comisión de Bienestar Animal de la Federación Francesa de Equitación, etóloga y miembro del comité de bienestar creado por GL Events para los Juegos Olímpicos de París 2024, Déborah Bardou jugó un papel clave para garantizar que se respetaran las mejores prácticas de bienestar animal durante el evento. Junto con los demás miembros del comité, contribuyó a asegurar que las políticas de bienestar no solo cumplieran con las expectativas, sino que marcaran un avance real en el cuidado de los caballos en competiciones de élite. En esta entrevista, nos comparte su recorrido, su experiencia en el comité y responde con total transparencia a algunas de las preguntas que siguen alimentando el debate sobre cómo mejorar nuestro sector. ***** Accede ahora a más de 100 productos y servicios personalizados en Horse1: https://bit.ly/descubrehorse1Siguélos en Instaram : https://www.instagram.com/horse1_/__Sigue a The Modern Rider :https://www.instagram.com/the_modern_rider/https://www.facebook.com/The-Modern-Rider-Podcast-172209469997478 https://www.themodernrider.com/Inscíbete a la nueva Newsletter especial de The Modern Rider : https://themodernrider.substack.comRecibe las comunicaciones del podcast : https://themodernrider.systeme.io/newsletterContacto : hola@themodernrider.com   Support the show

Présidente de la Commission Bien-être Animal de la Fédération Française d'Équitation, éthologue et membre du comité bien-être créé par GL Events pour les Jeux Olympiques de Paris 2024, Déborah Bardou a joué un rôle clé pour garantir que les meilleures pratiques de bien-être animal soient respectées durant l'événement. Aux côtés des autres membres du comité, elle a contribué à s'assurer que les politiques de bien-être ne se contentent pas de répondre aux attentes, mais qu'elles marquent réellement un progrès dans le soin des chevaux lors des compétitions de haut niveau. Dans cet entretien, elle nous partage son parcours, son expérience au sein du comité et répond en toute transparence à certaines questions qui alimentent encore le débat sur l'amélioration de notre secteur. ***** Accede ahora a más de 100 productos y servicios personalizados en Horse1: https://bit.ly/descubrehorse1Siguélos en Instaram : https://www.instagram.com/horse1_/__Sigue a The Modern Rider :https://www.instagram.com/the_modern_rider/https://www.facebook.com/The-Modern-Rider-Podcast-172209469997478 https://www.themodernrider.com/Inscíbete a la nueva Newsletter especial de The Modern Rider : https://themodernrider.substack.comRecibe las comunicaciones del podcast : https://themodernrider.systeme.io/newsletterContacto : hola@themodernrider.com    Support the show

In dieser Folge von Energie Aufs Ohr spricht Lena mit Adrian Ostermann über Bidirektionales Laden bzw. Bidirektionales Lademanagement. Was bedeutet es, wenn E-Autos nicht nur Strom laden, sondern auch ins Netz zurückspeisen können? Die beiden erklären die Grundlagen, Vorteile und Herausforderungen dieser Technologie, die das Potenzial hat, unser Energiesystem zu revolutionieren. Adrian gibt außerdem Einblicke in eines der größten Forschungsprojekte zu diesem Thema - den Feldversuchen von ihm und seinem Team an der FfE. Warum sind Standards und Interoperabilität so wichtig, und welche technischen sowie regulatorischen Hürden stehen der breiten Anwendung noch im Weg? Die Folge liefert Antworten, spannende Zukunftsprognosen und zeigt, wie bidirektionales Laden schon heute in der Praxis funktioniert. Einschalten lohnt sich! Der Feldversuch der FfE: https://www.ffe.de/veroeffentlichungen/projekt-bidirektionales-lademanagement-bdl-einblicke-und-bewertung-des-feldversuchs/ Zu unserer Memodo Wissenswelt: https://memodo.de/m Zum Memodo Solarshop: https://memodo.de

From the headlines: Cuba's electrical grid went down and the whole country went dark.There are lessons in this for lower middle market companies, including:You must make capital expenditures before they're neededIf you have FFE&V you need to spend money to growEBITDA is misleading where there are fixed assistsThe episode ends with some great quotes from Warren BuffettJohn MartinkaJessica MartinkaContact us via either website or give us a call and be sure to check out our videoshttps://nokomisadvisory.com/https://www.martinkaconsulting.com/https://www.youtube.com/c/JohnAMartinka/videos 425-515-4903

Question: Hello, Beau. I utilized a private money construction loan for my restaurants build-out, and now that we're operational I'm interested in refinancing with the SBA 504 loan. Is this feasible? Additionally, can I include expenses for property improvements and furnishing, fixtures, and equipment (FF&E) and then refinancing? I appreciate your guidance. -Jade If you'd like to meet with Beau to talk financing, book a call here ( http://bookwithbeau.com/ )

The Birth of a Frozen Delight Michael Keller, CEO of Jeremiah's Italian Ice, joined anchors Ginger Gadsden and Matt Austin on Florida's Fourth Estate to share the captivating origin story of this beloved brand. The journey began with Jeremy Litwack, a passionate entrepreneur from South Jersey. Inspired by the classic Italian ice (or “water ice” as it's known in Philly. Please don't try to pronounce “water ice” like they do in Philly. It won't end well for you) of his hometown, Jeremy began experimenting with recipes as early as 1988 while attending the University of Delaware. From Push Cart to Brick-and-Mortar Litwack's dream wasn't just about creating a delicious product; it was about sharing it with the world. He started small, peddling his perfected Italian ice from behind a pushcart, sometimes even on rollerblades. He was a hockey player so he knew what he was doing. The journey led him to Florida, where in 1996, he opened the first Jeremiah's Italian Ice location in Winter Park, Orlando. Growing Pains and Breakthroughs Like many great businesses, Jeremiah's faced its share of struggles. Litwack was bringing a northeastern concept to the sunny state of Florida, and it took time to catch on. Early on, there were quiet days, with few customers and even fewer sales, but Litwack's belief in his product never wavered. He focused on grassroots efforts, building the brand one customer at a time, even going so far as to place coupons on the windshields of cars parked in his lot. What can we say, the guy had an insatiable drive. A Franchise Success Story In 2019, Litwack and his team decided to take Jeremiah's to the next level by franchising. The first franchise locations opened in 2020, and within just a few years, the company expanded to nearly 130 stores across 11 states. The growth has been phenomenal, and the brand shows no signs of slowing down. When Matt Austin Asked the CEO about growing too fast, Keller explained they take great pains to make sure each location lives up to the Jeremiah's promise of quality. A Taste That Stays with You When, FFE host, Ginger Gadsden got to taste Jeremiah's Italian ice during the podcast, she couldn't help but rave about the unique, layered flavors. The blend of Italian ice and custard creates a taste sensation that keeps customers coming back for more. Ginger's reaction was priceless, likening the experience to a wine tasting where the flavors continue to unfold with each bite. The Future of Jeremiah's Italian Ice Looking ahead, Jeremiah's has big plans. With a goal to expand to 300 stores within a few years, the company is poised for continued success. New products and flavors are on the horizon, promising to delight customers in new and exciting ways. A Sweet Legacy Jeremiah's Italian Ice has grown from a single pushcart to a nationwide franchise, all while staying true to its sweet roots. As Michael Keller puts it, the future is bright, with endless possibilities for growth and innovation. Whether you're in Florida or across the country, one thing is clear: Jeremiah's is here to stay, one cup of delicious Italian ice at a time. The original Jeremiah's Italian Ice, which opened in Winter Park, is still open for business and located at 6864 Aloma Ave. Learn more about your ad choices. Visit megaphone.fm/adchoices

Check out this episode wherever you like to listen or watch podcasts! Episode Page: https://vinneychopra.com/podcast/ Youtube: https://youtu.be/xE6IagYn9zI Spotify: https://spoti.fi/423B4fz iTunes: https://apple.co/3tQ9Tsf   ----     To learn more about how Vinney can help you, click here - https://linktr.ee/VinneySmileChopra   Smile Always and Be Happy!   -----    

Do you ever wonder how the spaces where we learn impact our educational journey? Or how interior design intertwines with education to create environments that foster growth and engagement? In this conversation, Nikki shares her unique journey from the halls of academia to the forefront of interior design. Drawing from her own school experiences, she illuminates how the environment can shape learning outcomes and student engagement. From there, she delves into her transition into the professional realm, emphasizing the pivotal roles of flexibility and mentorship in personal and career growth. As Nikki and host Kevin Stoller explore various facets of education design, they shed light on the importance of continuous research and staying abreast of industry trends. Nikki's insights underscore the significance of integrating furniture and professional development into educational spaces, elevating the learning experience for all.   Takeaways School environments play a significant role in student engagement and learning outcomes. Flexibility and mentorship are crucial for personal and professional growth. Continual research and staying up-to-date with industry trends are essential in education design. Integrating furniture and professional development can enhance the learning experience. Traveling with children can be challenging, but it's important to take time for yourself and your relationship. Missed opportunities for travel can be disappointing, but it's never too late to fulfill your travel dreams. Researching and choosing the right firm can have a big impact on your career satisfaction.   Nikki Snellinger is an interior designer with 9 years of experience in the education market sector. She has been with JCJ for 5 out of those 9 years, working on projects anywhere from pre-K to K-12 to local Boys and Girls Clubs. Nikki works on all aspects of the project such as figuring out design solutions, making finish selections, producing construction documentation, selecting FF&E and overseeing the furniture installation. Nikki took part in designing the EDMarket classroom design for the 2022 EDSpaces furniture show in Portland, OR. Based off her experience and hard work with that project, she was nominated for the 2023 NextGen Rising Star award and was one of 16 winners. Nikki Snellinger 2023 NexGen Award Winner Nominate a Rising Star in Education 40 and Under for the 2024 NexGen Awards     Follow on Nikki Snellinger on Social Media: LinkedIn: https://www.linkedin.com/in/nikkisnellinger/   Learn more about creating better learning environments at www.Kay-Twelve.com. Kevin Stoller is the host of the Better Learning Podcast and Co-Founder of Kay-Twelve, a national leader for educational furniture. Find out more about Kevin at https://www.linkedin.com/in/kevinstoller/. For more episodes of the Better Learning Podcast, visit https://www.betterlearningpodcast.com/   Episode 176 of the Better Learning Podcast Kevin Stoller is the host of the Better Learning Podcast and Co-Founder of Kay-Twelve, a national leader for educational furniture. Learn more about creating better learning environments at www.Kay-Twelve.com.   For more information on our partners: Association for Learning Environments (A4LE) - https://www.a4le.org/ Education Leaders' Organization - https://www.ed-leaders.org/ Second Class Foundation - https://secondclassfoundation.org/ EDmarket - https://www.edmarket.org/ Want to be a Guest Speaker? Request on our website!

Live Business For Sale -We dive in with Matt Hash on his Mobile Trash Compaction Business which is listed for sale right now.FF&E - $220k Rev - $175k Profit - $80k Price - $449,000 https://www.bizbuysell.com/Business-Opportunity/Established-Mobile-Trash-Compaction-Business/2155561/

Question: Hello, Beau. I utilized a private money construction loan for my restaurants build-out, and now that we're operational I'm interested in refinancing with the SBA 504 loan. Is this feasible? Additionally, can I include expenses for property improvements and furnishing, fixtures, and equipment (FF&E) and then refinancing? I appreciate your guidance. -Jade If you'd like to meet with Beau to talk financing, book a call here ( http://bookwithbeau.com/ )

Holly Nguyen is one very tough customer.  You may have seen her on Muay Thai League recently where her shoulder popped out mid-fight vs FFE alumni Michelle Russell and this tough biarch just popped that sucker back in and kept on fighting.In this pod Holly shares with us her very rough start in the sport, being severely mis-matched at a very young age. We're surprised she kept at it frankly. From there she ventured to Spain's Gym where she has been going from strength to strength ever since. Holly is just 18 years old, we cannot wait to see what her future holds. Join hosts Smokin' Joe Coverdale and Bridget Thakrar as they interview some of Australia's best Muay Thai fighters, trainers and promotors.You can find us on Instagram here:The Female Fight ExperienceSmokin' JoeBridget Thakrar

The Center for Advanced Manufacturing and Logistics was launched with the help of $2M in state funding a year and a half ago, and will get another $1M from the latest Ohio budget... What has been the return on that investment? (at 14:52) --- A closer look at the decisions that grabbed all the headlines at the end of the Supreme Court's latest term... do they really mean what some people say they mean? And how do perceptions of the current court align with reality? (at 25:22) --- Around Town: While members of Findlay First Edition are putting in the work at summer camp, FFE parents and friends are busy with their annual Garage Sale Fundraiser this week (at 54:54)

This week Lucas complains about how Daniel made him talk about the Apple Vision Pro amongst other things. Some links below to product sites may be affiliate links and may result in a commission to the Camera Gear Podcast. Pre-Show Shirtless Summer / Hot Boy Summer Show Apple Vision Pro Sigma 14mm f/1.4 FF E mount L mount MoonSmartFocus Canon R100 Fujifilm X-H2S Fujifilm X-T3 XF 50-140 f/2.8 Tamron 11-20 f/2.8 Canon 70-200 f/4 Lucas' Canon 70-200 Fujifilm 56mm f/1.2 R Viltrox 75mm f/1.2

Fire For Effect Athletics (FFE) is a US military veteran opened and operated olympic lifting, strongman, and cross-training gym in Philadelphia, Pennsylvania. FFE programming is designed for everyone, regardless of physical ability or age. FEE trainers customize workouts to benefit people at any stage in life - from kids as young as 8, to folks in their 80's, as well as elite athletes.This weeks episode features James Taulbee, owner and coach, Tracey Taulbee, general manager and coach, and Adam Trapanotto, manager and coach. Timestamps:0:30: FFE Team Intro8:30 - Odd Object vs Barbell Workouts12:30 - Moving Heavy Odd Objects Quickly Over Great Distances28:00 - The mental side of exercise and an active lifestyle35:00 - Disintegration of community and neighborhoods - knowing your neighbors is rarer today than in the past45:00 - What are the things civilians don't know about the veteran experience?60:00 - Leadership and Ego65:00 - Veteran Mental Health and Suicide; helping each other thriveLinks: FFE website: https://www.fireforeffectath.com/FFE instagram: instagram.com/fireforeffectathletics Hosted on Acast. See acast.com/privacy for more information.

Finance for Enterprise Finance For Enterprise help SME businesses to unlock their growth potential. They are one of the most trusted and respected alternative lending providers in the North of England. In just 5 years, Finance For Enterprise has provided £37 million of loans. This funding has helped to create more than 1400 new jobs with a further 1800 roles safeguarded, resulting in a net economic contribution of more than £140 million. Jeremy Meadowcroft is this week's guest on The Next 100 Days Podcast. How Does Graham Get Away With This? http://thenext100days.org/wp-content/uploads/2023/02/Jeremy-Meadowcroft-Finance-for-Enterprise-1.mp4 Jeremy says he is a gap funder. He lends to people that fall through the finance gap. Bank's Have Changed This is how Funding for Enterprise helps its clients. http://thenext100days.org/wp-content/uploads/2023/02/Jeremy-Meadowcroft-How-FFE-Helps.mp4 Where Does FFE Get Its Money From? Primarily, FFE are central government funded. They are what is called a CDFI. It stands for a COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION. Here Jeremy gives the case for using Government money. http://thenext100days.org/wp-content/uploads/2023/02/Jeremy-Meadowcroft-Govt-Money.mp4 Why Can't Certain Organisations Access Funding? They lack security. http://thenext100days.org/wp-content/uploads/2023/02/Jeremy-Meadowcroft-Lending-Rates.mp4 They lend over a term that will make the rate feasible and affordable. And because they are a not-for-profit organisation they do not charge early redemption charges, so when they lend over 3 or 4 or 5 years, and you pay pay early, that's fine. They'll just scoop up that money and recycle it to another worthy cause. So if the Govt gives them £10m, 5 years ago, they'll manage to lend about £50m on the back of that initial Government fund. How to get in Touch with Jeremy Meadowcroft Just click the image below. Jeremy Meadowcroft's Testimonial http://thenext100days.org/wp-content/uploads/2023/02/Jeremy-Meadowcroft-Testimonial.mp4 The Next 100 Days co-hosts… Graham Arrowsmith Graham runs Finely Fettled to help organisations that want to market to affluent and high-net-worth customers.  He also runs Meet Professionals, which is offered to financial advice groups as a white-labelled lead generation and conversion system. Contact Graham on LinkedIn: Visit Graham's LinkedIn Profile and by email. Kevin Appleby Kevin specialises in finance transformation and implementing business change. He's the COO of GrowCFO which provide both community and CPD-accredited training designed to grow the next generation of finance leaders. You can find Kevin on LinkedIn and at kevinappleby.com  

Foundation for Excellence has been doing great service to the needy students. It has been a catalyst between their dreams and their career. Thousands of talented youngsters have received financial support from FFE in completing their education. FFE is taking an active part in India Giving Day organizing by IPA to support non profits working for India. Here is what Minoo Gupta, President of FFE has to say about her organization and it's participation in India Giving Day. Host: Rajeshwari Kalyanam

Question: I have a plumbing supply company. We have been in business for 8 years and are growing 20-30% per year. We currently lease our warehouse. We would like to build a warehouse and get a much bigger yard. We plan on growing our business with more vans for delivery. We would probably be in the construction project around $4 million, not including the equipment, vans, and FF&E. That would probably be another $300k. What are your thoughts for a project like this? Thanks, Larry

Question: My husband and I own an assisted living facility. It was a home and we remodeled and added three bedrooms. We have run the business for the past three years and we are looking at expanding in our market. We would like to purchase another property. What would our options be to finance the property build outs and FF&E (furniture, fixtures, and equipment)? We have a conventional loan on our property now. The property has a bunch of equity and our business is cash flowing well. What would be some good options? We have great credit, etc. Laura

Question: I am looking at purchasing an old Motel it's vacant now but it is a really good place to renovate and run as a boutique Motel. We would showcase the units on Airbnb in uh VRBO. I don't own any hotels currently but I do own and operate three short-term rental properties and they are single-family homes. I have great credit and we'll keep my W-2 job for the time being. I earn around 300K dollars per year. I should add the property needs about 800k in renovations and FF&E and they are looking to sell at around 2 million. How would you structure this loan? What could I expect for terms and loan proceeds? Thanks in advance, Matthew Read more here - https://sbaloans.blog/sba-7a/getting-an-sba-7a-loan-for-a-hotel/

La Fédération française d'échecs (FFE) a lancé, en mars 2022, un programme sur trois ans pour explorer scientifiquement les bienfaits de ce jeu millénaire sur les jeunes autistes ou déficients mentaux. Une pratique adaptée qui rencontre un franc succès auprès de ce jeune public.

La Fédération française d'échecs (FFE) a lancé, en mars 2022, un programme sur trois ans pour explorer scientifiquement les bienfaits de ce jeu millénaire sur les jeunes autistes ou déficients mentaux. Une pratique adaptée qui rencontre un franc succès auprès de ce jeune public.

This episode welcomes Jean-Paul Eaton, Global Community Director of FINTRAIL's Fintech Fincrime Exchange (FFE), who takes listeners through the story of how FFE originated. What started as a small roundtable, FFE has now matured into a global community that shares information on how to detect and deal with financial crime.Listen along to learn more about FFE and FFECON, its annual conference for FinTechs and financial crime professionals to understand and share developments in the industry.Hear about FFE and its activities by visiting its LinkedIn page, and check out the FINTRAIL website for research from a network of talented financial crime fighters.

Heads Up Here's the link to access the talk on Carrot or Stick? Neither! On Wed 3rd August at 8pm UK (3pm Eastern) https://www.facebook.com/groups/eatingcoachgroup   What is The Fundamental Fatribution Error? I made this term up. It is a corrupted version of the fundamental attribution error (FAE), which is the mistake we make when we for example blame others' bad driving on personality defects, but if we cut someone up in traffic it is usually down to factors outside our control. Most people believe that they are above averagely skilled drivers. The fundamental fatribution error (FFE) is when you weaponise the FAE against yourself, and is exemplified by self attack statements like "I'm so fat because It's so undisciplined" In this episode you will find out why the FFE is so toxic AND so strangely comforting…as well as an alternative.     About The Carrot and Stick Talk on Wed 3rd August: We all know about carrots and sticks when it comes to human motivation. Punish or reward yourself (or get someone else to do it for you) and you are sorted…right? Wrong. This Wednesday at 8pm UK (3pm EST) I will be talking about why I don't think either really work for stopping binge eating or freeing yourself from junk food addictions like sugar. For anyone with a history of food compulsion, the stick will trigger their Inner Food Rebel, a force 1000 times more powerful than any goals you might set. I have found that carrot does work SOMETIMES for me…but only under certain conditions. And it has never really landed with any of my clients. So…what can we replace the carrot and the stick with? Something deeper. Something that always works. Something that connects you to a more powerful way of living. Something that is totally transferable to other areas you need motivation for. This talk will be live in the Eating Coach Facebook group. If you are not already a member, join here: https://www.facebook.com/groups/eatingcoachgroup   Harriet Morris info (at) theshiftinside dot com

There's not much you can do about rising prices, but you can counter them... we have five inflation-beating ways to save money on groceries, energy, travel and more (at 13:00) --- While Findlay First Edition is busy preparing for the upcoming season at summer camp this week, FFE parents are equally busy organizing and running the group's largest annual fundraiser (at 20:16) --- What's Happening: Before you know it, the Hancock County Fair will be upon us... and for 4-H clubs, the countdown is already well underway (at 40:37)

Show Notes (0:13) State of the Union (7:00) Rogue (12:00) Freedom Fitness Equipment (16:40) Day to Day (17:55) Current Inventory (22:52) Used Equipment Obstacles (28:12) Commercial vs. Home Gym Quality Treadmills (29:28) What's Next for FFE? (33:13) Future of home gym More Info Check out Freedom Fitness Equipment Knurled News GGE Website --- Support this podcast: https://anchor.fm/garage-gym-experiment/support

The World is never devoid of talent. Every person can prove himself provided, he was given right opportunity and encouragement. This is exactly the reason why Foundation for Excellence is making huge impact on the society. FFE facilitates scholarships for bright students so that they could realize their dream of higher studies. Since it's inception, FFE has provided scholarships for more than 70 thousand students amounting to around 200 crore rupees. Here is Minoo Gupta, president of Foundation for Excellence sharing the activities, working and affect of the organization along with her passion for serving the students. Host: RJ Saankhya

This is the eighth of the #WFH interviews and blogs that were started during the 2020 pandemic.Margit E. Whitlock AIA LEED AP                                                                    Principal / Creative DirectorArchitectural Concepts, Inc.3958 First AvenueSan Diego, CA 92103www.4designs.comMargit E. Whitlock AIA LEED AP | Principal in Charge of Architecture and Interior Design | Architectural Concepts Inc. a San Diego, CA based design firm.  Ms. Whitlock is responsible for creating the concepts that drive the creative process. Her professional experience includes all aspects of architecture, design and the building process including project programming and site analysis, interior design, custom FFE, art programs, construction documents and construction administration. She is a licensed architect in the states of CA, AZ, NY, PA, TX, FL and HI.  To foster her passion about the built environment and her community, Margit is President of SDAF (San Diego Architectural Foundation) a 501c3 non-profit.  For the past twenty-seven years she has focused on resort/hospitality design and construction with projects nationally and internationally. Her project list includes hospitality, commercial, retail, restaurants, civic and timeshare resorts.Ms. Whitlock is an accomplished speaker with engagements at multiple ARDA conventions, HD Boutique show as well as being frequently published in magazines such as Developments, Resort Trades, Hotel Business, Hiatus, Vacation Industry Review and Resort Management and Operations.She received a Bachelor of Architecture degree from the University of Oregon with academic strengths in urban planning and design and extended studies in Art History and Architecture at the University of Copenhagen, Denmark. Margit can be reached at Margit@4designs.com or at 619-531-0110.http://4designs.com/Link to blog post: https://inmawomanarchitect.blogspot.com/2020/09/wfh-hospitality-architecture-w-margit.html

CFM and FFE recap the NBA trade deadline including all of the blockbuster trades with Harden-Simmons, Halliburton-Sabonis, and Porzingis-Dinwiddie!

CFM, LiveJMC, and FFE provide longshots, two injury updates, and spend the rest of the time arguing.

FFE makes his debut as a host and reveals his Week 5 adds. CFM makes an appearance and discusses Jayson Tatum.

CFM and FFE break down FFE's roster, talk about the No.1 pick if you are drafting now, Week 8 streamers and CFM's daily rant on Today's Episode.

With a particular focus on commercial projects, Micky explains that there is less customization involved when working with a typical commercial client versus a residential one who obviously tends to be much more discerning, detail-oriented, and at times particularly challenging when they put in change orders while their project is already underway.Asked how she and her team are able to stay on top with the latest regulations and standards in any given state when working on projects, Micky says that communication is key, both between her team members as well as with the contractors that the firm partners with. The same is true when it comes to choosing top-quality materials from a health standpoint.From keeping up with code to handling logistics to meeting client expectations, commercial design carries with it a myriad of unique challenges. Micky addresses some of these and describes the process that has brought her and her team of five amazing success in the industry.Topics Discussed: [02:08] The differences between Micky's commercial and residential clients[08:55] Why Micky decided to go into the commercial and hospitality world[12:14] How Micky stays on top with ever-evolving regulations and standards for commercial projects[16:29] How involved Micky is with FF&E (furniture, fixtures, and equipment)[18:31] Making sure that the design fits the client's budget and creating the design book[24:01] How Micky delegates responsibilities to her five team members[38:40] What inspired Micky to go into interior design and how she built her career[41:50] What Micky wishes she knew at the beginning of her career[43:15] Why Micky decided to launch her own textile line[45:36] How Micky does social media and why she focuses on LinkedIn and blogging[49:39] How Micky stays on top of design trends and best practices in the industry[50:37] What Micky likes to do for fun[52:05] Exciting upcoming projects and other events for MickyConnect with Micky Klein:Website - https://mickyklein.com/Instagram - https://www.instagram.com/micky_klein_interiors/Facebook - https://www.facebook.com/Mickykleininteriors/LinkedIn - http://linkedin.com/in/micky-klein-84681a76YouTube - https://m.youtube.com/channel/UCfLrGMXzc-habHNqV0tpMKAConnect with Brad Leavitt:Website - https://aftconstruction.comInstagram - https://instagram.com/aft_constructionFacebook - https://www.facebook.com/aftconstructionHouzz - https://www.houzz.com/pro/aft-construction/aft-constructionPinterest - https://www.pinterest.ph/AFT_CONSTRUCTION/YouTube - https://www.youtube.com/channel/UCzB4R_DHPVV1SPh7RUfR5jgKey Quotes from Episode:I'm very, very into criticism. I find it refreshing, because the more black and white my client can be and tell me exactly what their vision is and tell me what they do like and what they don't like, I'm able to give them the product that they envision from the get-go.I really appreciate how I came to where I am today knowing that a lot of it was me and the help of others giving me advice. But, at the end of the day, I know that I woke up and decided to keep going instead of giving up when the frustration or lack of knowledge kicked in.