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The future of war has been evolving before our eyes in Ukraine, yet the west still plans to fight the last war. In this special episode, guest host Noah Smith (@noahpinion) and Brandon Anderson sit down with Yaroslav Azhnyuk (@YaroslavAzhnyuk), a serial tech founder who went from building PetCube to founding The Fourth Law, one of the world's most advanced AI-guided drone companies. Over two hours we cover the technology, tactics, and geopolitics of drone warfare, and why the modern battlefield has already left the West behind:* Yaroslav's personal history and the Ukraine war [00:01:04 – 00:14:01]* The modern drone tech stack: why FPV drones are the new god of war, the future of the rifleman, fiber optic vs. AI, five levels of autonomy, and the eight dimensions of the autonomous battlefield [00:14:01 – 01:05:13]* The geopolitics and economics of drones: China's manufacturing advantage, the drone race, Western defense readiness, countermeasures, and why the gap is widening [01:05:13 – 01:58:57]For those looking for Noah Smith's commentary, it really gets going around the 00:51:31 mark.Yaroslav Azhnyuk / The Fourth Law:* X: https://x.com/YaroslavAzhnyuk* LinkedIn: https://www.linkedin.com/in/yaroslavazhnyuk/* The Fourth Law: https://thefourthlaw.aiNoah Smith:* Substack: Noah Smith * X: https://x.com/noahpinionTimestamps00:00:00 Cold Open: China's 4 Billion Drones and the Cameras-to-Explosives Pipeline00:01:04 Introduction: Brandon, Noah Smith, and Yaroslav Azhnyuk00:05:41 From Tech Entrepreneur to Defense: PetCube, Brave One, and the D3 Fund00:10:42 The Ethics of Building Weapons: Dual-Use Technology and the Wolf at the Door00:14:01 The Tech Stack: Cameras, Autonomy Modules, Interceptors, and a Semiconductor Fab00:18:47 Fiber Optic vs. AI: The Radio Horizon Problem and $32/km Cable00:25:32 FPV Drones: The New God of War — 70–80% of Frontline Casualties00:28:28 The Five Levels of Drone Autonomy: From Terminal Guidance to Full Autonomy00:41:37 The Eight Dimensions of the Autonomous Battlefield00:45:32 AI Safety and the Morality of Autonomous Weapons00:51:31 The End of the Rifleman? Noah's 2013 Prediction vs. Battlefield Reality01:05:13 China's Manufacturing Advantage and Western Vulnerabilities01:24:21 Policy Advice for Western Defense: Defense Valley and the Widening Gap01:32:54 The Drone Race: Who's Ahead, Category by Category01:41:57 Countermeasures: Shotguns, Jammers, Lasers, and Fishnets01:58:19 The Wedding and Final Takeaway: Be Prepared for WarTranscriptCold Open: China, FPV Drones, and the New Warning SignYaroslav [00:00:00]: Think about this. Last year, Ukraine produced 4 million FPV drones. Ukraine is not the most industrious nation in the world. China can produce 4 billion of these FPV drones.Noah [00:00:10]: Would you say that right now China is now the supreme conventional military power on Earth, given its ability to manufacture and deploy drones in the quantity and quality that you just described?Yaroslav [00:00:20]: I don't think we have all the information to claim that but we cannot count it out, and that alone should be a big warning sign. As I say, at some point in my life I went from making cameras that fling treats to pets to cameras that fling explosives to the occupiers. So that's the short story. And when you think about what your nation, what your patriots are going through, you realize that's the only morally right thing to do is to fight back, and it is immoral not to fight back, and then the choice becomes very clear.Introduction: Yaroslav Azhnyuk, Petcube, and the Last Flight into KyivBrandon [00:01:04]: Welcome to Latent Space. I'm Brandon. I normally do science podcasts, but today we're going to do something a little bit different. I'm joined by Noah Smith of Noahpinion on Substack and Twitter. And he has lots of interesting things to say about drones. And as a guest, we have Yaroslav Azhnyuk, founder of The Fourth Law and several other, drone-related startups. To get started, it is February 23rd, 2022. You are running a pet startup. You're connecting pets with their owners. Let's go in just a little bit of background. How did you get started in tech, and what were you working on before the Ukrainian war started?Yaroslav [00:01:50]: Good to be here. Thank you. On February 23rd, late in the evening, 11:00 PM Kyiv time, my wife and I landed in Kyiv. Actually, then she was a fiance. We came from Lviv, where we were looking at a church, where our wedding should have taken place. And we got into this cab ride from the airport to our home, and the driver was like, “You crazy. Like, everyone's leaving Kyiv. Why do you come?” We're like, “What? Nothing's going to happen. Dude, chill.” And then obviously, eight minutes later, or eight hours later, the bombs fell in the city. It was quite surreal. We probably landed on the last flight that landed in Kyiv, or one of those last flights. My background, I'm a tech guy. Studied applied mathematics in Kyiv Polytechnics, born and raised in Kyiv. My parents are old PhDs from academia, and grandparents too. Like, everything, from linguistics to nuclear physics. And I'm an entrepreneur, so I've built a bunch of companies. Petcube is the one you were referencing. So I lived in San Francisco 2014 to 2020, building Petcube, which is one of the leading, pet device companies in the world, selling lots of pet cameras. And then, yeah, as I say, at some point in my life I went from making cameras that fling treats to pets to cameras that fling explosives to the occupiers. So that's the short story.February 24th: Leaving Kyiv as the Invasion BeginsNoah [00:03:28]: February 24th, I guess a few hours after you, go to check out your wedding chapel, what do you do?Yaroslav [00:03:37]: We had a plan for this situation. So my parents and family live in Kyiv, and we're like, “Okay, this has actually started. The worst has, come true.” And so we basically packed our belongings and got in the car and spent 17 hours driving west. And that was pretty sure most people in our audience watched at least one apocalyptic movie in their life, so that was exactly like that. Like, felt exactly like that. Missiles are falling. Like, there was smoke in Kyiv. Like, my dad and I went, like, to central part of the cities. It's probably, likeYaroslav [00:04:20]: 800 meters from presidential office, to pick some stuff up at his workplace. Because he's, like, the head of an academic institution, so he had to get some of the things with him. And super surreal. Like, the streets are empty. Like, the gas stations are out of gas. Like, we found some gas station. We didn't have, like, spare canisters with us, so we're like, We figured out, like, the car was diesel, so like, we figured out, if it's diesel, you can actually store it in plastic, canisters, and we bought some window wash for the cars. We poured it out of the canisters, and we poured the diesel into that. Yeah, so it was like that. And then, like, helping friends get out, like my friend and his dog. Like, we found Like, my brother was also, like, riding in a separate car. We found a place for my friend who didn't have a car. It was like, yeah, it was like, totally surreal. And we didn't know of course, and you didn't know this will last for so long. You didn't know whether Ukraine will be able to defend Kyiv. And it was like, yeah, very little information and very little insight into future.From Pet Cameras to Defense Tech: Building for Ukraine and the Free WorldNoah [00:05:42]: What are your thoughts with regards to how do you, defend, Ukraine? So you eventually start building drones Like, what is the process to get from there from where you were building, devices that connect owners with pets to building drones, and what other things did you do to help the war effort in the process?Yaroslav [00:06:07]: It's definitely non-trivial, right? Like, I didn't go, to I didn't get any, like, military education when I was a student. Like, normally, in Ukraine, you would, you would go to like, this military school even if you're getting higher education in any other, sphere. I decided to skip that which is like, an unusual way to go. And I never thought that I will be somehow engaged in a war effort. Like, what is war? Of course, wars are over. It's the end of history. So one thing you got to understand about, like, many Ukrainians and like, I guess, it's also true about most of the people I met here in the US, that your who you are in terms of your nationality is a big part of your identity. So when that gets under attack, it's something deeper than just the country you live in gets under attack, right? And I Day one, I figured I'm going to I'm going to fight back with everything I can, right? But I didn't think on day one that I'm actually going to do, weapons. And a bunch of things. We were reaching out to a number of American, congresspeople and senators, and basically advocating for support of Ukraine, for voting for lend lease, which has happened in May 2022, but didn't actually work as expected. We helped start, Brave One, which is now a very important defense innovation cluster, sort of like a DIU here in the US. We helped start, a fund called D3. It's like, it was started or co-started by Eric Schmidt, former CEO of Google. So a bunch of these odd things, but then eventually I was like, “Okay,”by 2023 it was obvious this thing, A is going to last a lot more time, and B, that the whole world is shifting and that there's going to be a new arms race, that the warfare is redefined by drones as platforms. And for the first time in history, you have a platform that is software defined, that can increase your battlefield capabilities, in a in a step change just overnight. So it's like if you were able to push a software update and get all of your Roman legionnaires a new helmet? That has never been possible before. It's the first time in the history of war this is possible. So all of that and many other things like, supply chain fragilization, and the impact that AI is going to have on all of this all these things have become evident to me in 2023, and it's like, “Okay, I should do what I do best, or what I know how to do best, start a tech company, and sort of leverage the global techno capitalist machine, to provide, defensibility to Ukraine and the free world.” So that's literally the mission of the company, increase defensibility of Ukraine and the free world. And then there was some sort of soul-searching and like, asking yourself. It's like, “Okay, am I Actually, I know nothing about weapons. Am I actually, like, ready to make, things that other people use to kill other bad people?”Yaroslav [00:09:36]: When you think about what your nation, what your Compatriots are going through And think about all the terror of places like Bucha, the occupied cities in the east and south, the abducted children, the raped women, all the economic damage that's being done, and the intention to destroy a whole nation, to genocide the people of Ukraine, you realize that's the only morally right thing to do is to fight back, and it is immoral not to fight back. And then the choice becomes very clear. And look, we're just passing the ammunition. We're not doing the actual job. The actual fighters and defenders and heroes are people in the armed forces. We're just support.The Moral Question: Weapons, Responsibility, and Fighting BackNoah [00:10:33]: I have so many questions. Actually, I know you seem to have a question. Do you want to ask anything?Yaroslav [00:10:38]: No, I'm just listening. Go ahead.Noah [00:10:40]: I do want to talk about, some of let's say, the moral issues, like you just said. You endYaroslav [00:10:50]: I think there are no issues there.Yaroslav [00:10:52]: What would an example of a moral question be in this case?Noah [00:10:55]: No, I mean Okay. As you just said, you are creating the tools, but others are using them.Noah [00:11:05]: I was maybe thinking of having this conversation later, but one of the questions is like, is it actually you are going to be building them for your homeland, which you are building it for your homeland, which is I think, very a strong morally defensible position, but this technology is not going to stay with you, right?Noah [00:11:26]: This you will probably be selling these to other people Yeah. So the future is really where the moral issues may come into playYaroslav [00:11:38]: The this question becomes, easier and more complete if we ask this not about a particular technology or particular weapon, if we think that this question actually applies to any kind of technology Right? So -Knife or fire. You can use knife to do surgery and save people's lives, or you can use it as a weapon to take people's lives.Noah [00:12:06]: Cut tomatoes, too.Yaroslav [00:12:08]: Cut tomatoes too.Noah [00:12:09]: Yes, knife.Yaroslav [00:12:09]: That's helpful.Noah [00:12:10]: In Japan, sword and knife, they, call the same word.Yaroslav [00:12:14]: It's like, it's with any technology. Large language models, right? Look at how powerful they are and yet they're available to anyone in North Korea or in Russia.Yaroslav [00:12:29]: That's one side of the argument. The other side is As a maker, what is your responsibility for how the tools you're creating, will be used? There's definitely some responsibility, right? Then How should the decision process look like? Should you, like, try to calculate all the possible scenarios before starting to work on something? Or do you create something that is needed now to save people's lives, and then think about, addressing the unwanted edge cases later? In ideal world where there's like, or okay, it's not ideal world. In a mythical world where there is some one governing party and it gets to decide everything, and there is no other country, that can, decide on their own, you could say, “Well, we need to calculate for all the consequences, and only then, maybe build this building, by replacing this park because, maybe we need this park in the city,”right? So that kind of situation. But when you're in a situation where you're in a forest, in front of a wolf, you first going to deal with the wolf that wants to eat you, and then you're going to go consult Greenpeace. So that's kind of situation that Ukraine is in.The Fourth Law, Odd Systems, and Ukraine's Drone StackNoah [00:13:59]: Enough. Because this is a tech podcast, I did want to spend some time talking about, sort of the tech in that you've developed and what you've been working on. So can you explain, I guess, first of all, like, the problem that you were trying to solve from a technical standpoint? And I think, and then maybe, like, go into some of the solutions and some of the design process that led you from designing, little laser-guided, guiding lasers with a with an iPhone versus Having drones.Yaroslav [00:14:34]: Like, it so happened, that my partners and I, we sort of So I started one company called The Fourth Law, and its goal was and is to Make, massively scalable on-drone autonomy. And then In parallel with that together with my, Petcube co-founders, partners, and friends, we started another company called Odd Systems Which, was focused on making thermal cameras. Cameras, thermal cameras are seeing thermal radiation and are used to see at night. And we're now sort of those companies are getting closer and closer together and we're probably going to merge them. And this group of companies is currently the leading, team in on-drone AI and thermal imaging on the Ukrainian battlefield, and Likely one of the leading, if not the leading in the world. So We have these, like, three sort of business units, which are cameras, drone autonomy, and drones. So the cameras and drone autonomy sell daytime and nighttime cameras and different types of drone autonomous modules to other drone manufacturers, over 200 drone manufacturers in Ukraine. And then the UAV, business unit sells the drones themselves to the armed forces of Ukraine, Ukrainian government. And there are different types of drones. Those are sort of front strike, as we call them, so those are sort of FPV strike drones and the bombers, and then interceptors. And there are different kinds of interceptors. We do Shahed interceptors and we do ISR interceptors. We don't do the deep strike-FPV Drones, Interceptors, and Battery-Powered WarfareNoah [00:16:32]: What's an ISR interceptor?Yaroslav [00:16:33]: ISR is stands for intelligence, surveillance, reconnaissance, and those are basically drones which are which, Russians are using to watch over positions and then communicate where, the targets are coming.Noah [00:16:48]: It's a reconnaissance.Yaroslav [00:16:48]: That's, the ISR is sort of a classical term for a for a reconnaissance drone.Noah [00:16:53]: Are all of these battery-powered drones that you just described? ‘Cause I know that the sort of deep strike drones still have, like Some sort ofYaroslav [00:17:01]: Internal combustion engine?Noah [00:17:02]: Internal combustion engine. Are all the things you're talking about battery-powered?Yaroslav [00:17:06]: What we're working on is all battery-powered, right? We don't do the deep strikes, right? And then in terms of autonomy-Noah [00:17:12]: You can catch a Shahed with a battery-powered thing. It's not Fast to catch.Yaroslav [00:17:17]: No, absolutely. Look, Shahed interceptor, like ours, it's called Zero, it goes up to 326 kilometers per hour.Noah [00:17:26]: For reference, how fast is a Shahed?Yaroslav [00:17:28]: Eight, like, in internal phase it could be 280, but in cruise phase it's, like, 220-ish.Yaroslav [00:17:36]: Yeah. And sorry, I'm not like you can convert that into miles if you're interested.Noah [00:17:41]: No, that's fine.Noah [00:17:41]: Multiply by two thirds or point six or something.Yaroslav [00:17:44]: That's easy. Yeah, I was saying that for autonomy modules, right, we, -We make systems, autonomous systems for frontline, for interceptors and some for deep strikes as well, and then different levels of autonomy. So from terminal guidance, which is like lasts 500 meters, give or take, to autonomous bombing, to autonomous target detection, to autonomous navigation and all of that across day and night, different terrains, different time of the year, different platforms like quadcopters and fixed wing, and maybe some other platforms. So it's quite a wide variety of products. We also have like our own simulation. We have our own training school for the war fighters. And we're about to start construction of two, semiconductor plants to make, sensors for thermal cameras. So that's super exciting for me as a computer science guy is Doing semiconductors. Super cool.Noah [00:18:49]: Like in terms of kind of core drone technologies, you basically are one is an FPV replacement without fiber optics, and the other isYaroslav [00:18:59]: YouNoah [00:18:59]: Signal tracking with interceptorsYaroslav [00:19:00]: With or without fiber optics. Fiber optics Is just like, sort of a communication module.Yaroslav [00:19:05]: You can, you can use classical analog, video link and radio link. Those would be two separate radios. You can do digital, or you can do fiber optic, and then fiber optic Has its own advantages but also adds weight and decreases, the distance and decreases, how fast you can, sort of turn and With a drone. Yeah.Noah [00:19:33]: Do you need AI for fiber optic drones?Yaroslav [00:19:36]: Like you can use AI for fiber optic drones. AI replaces a human, right? Fiber optic is making your communication link more resilient. So those are slightly different goals. Like if you want, you can have, AI controlling hundreds of fiber optic drones instead of having 100 operators for each.Fiber Optics, Radio Horizons, and Terminal GuidanceNoah [00:20:03]: I guess I thought that the key reason that people moved to fiber optic drones was for like electronic, countermeasures. Or I guess to counter those.Yaroslav [00:20:13]: I think that's a correct assessment from sort of a public awareness standpoint. In practice it's somewhat more difficult Because besides electronic countermeasures, you have these issues of a radio horizon For FPV drones, which means that asYaroslav [00:20:36]: I believe Earth is round Some people disagree. But basically if you fly a drone and you have a land station over here and a drone flying over hereYaroslav [00:20:49]: If your drone is flying high, you have good direct radio visibility. If your drone goes low, and usually, Russian infantry and vehicles, they're on the ground and you want to hit them, you need to go low. Lower you go, maybe you'll get behind a hill or behind a forest, and if you're far enough, you'll just get behind the curvature of the earth. You get into what's called a radio shadow. And then That is a real bummer because for the last, be it 60 or 20 meters, you won't be able to see anything and it will be very difficult to hit the target. So to counter that what-- And then the distances that these FPV drones, act on they're, they can be quite large. So for example, here in the US there was this drone dominance program competition, and in drone dominance the furthest distance was about 10 kilometers.Noah [00:21:44]: What was drone dominance? What was that competition?Yaroslav [00:21:47]: Drone, the drone dominance is a is a program started, by the US government, to accelerate the development of drone technology here in the US.Noah [00:21:57]: Got it. And the longest range thing they were using was 10 kilometers.Yaroslav [00:22:00]: Was 10 kilometers, right. In Ukraine, like if your drone doesn't fly at least 20, 25, it just, no one's interested in it, and the usual hits are happening. It was like, okay, many hits are happening between 30 and 40 kilometers, and that's what expected from a regular 10-inch, FPV drone. So at that distance, even at altitudes of like 60 to 100 meters, you might start losing, the link. So some of the earlier AI technology that was fielded in FPV drone was this terminal guidance technology. That was the first product that we ever, launched that helped you as an operator, once you see the target from two, three, 500 meters, you lock onto the target and then, it just, drives the drone towards the target no matter what, even after you lost the visual connection. So optic fiber solves that. However, if you want to go like 20 kilometers with optic fiber, that will add an extra three kilos, of useful weight to your drone. SoNoah [00:23:12]: ‘Cause the cable that you have to unspool as you go weighs.Noah [00:23:15]: It is heavy.Yaroslav [00:23:15]: At first, like the spool is about 800 grams, so a bit less than a kilo, and then, and then think about 10, 10 kilometer optic fiber is another kilo, something like that. That takes away from your useful mass and then now you have like, you need a 15-inch drone and it can only carry maybe one or two kilos of explosives if you want to go, 20 kilometers. If you want to go to 30 or 40, like 30 is probably max. 40 is like very problem problematic on optic fiber. And then the problem with optic fiber is it's actually getting super expensive. So and why? Because of all the data centers for AI. That's literally the same optic fiber-Noah [00:24:01]: We're running out of centersYaroslav [00:24:02]: That's being used there.Yaroslav [00:24:02]: Like when Ukrainians and Russians come to Chinese factories to buy the optic fiber, they're like, “We're out. We sold it out to the Americans.”? That's the craziest thing. So optic fiber went up in price from like, $4 per, kilometer to like, $32 per kilometer in a few months in the beginning of this year. And I'veBrandon [00:24:26]: Claude Code is stopping the Russian drone effort here.Yaroslav [00:24:30]: Ukrainian as well. Yeah.Brandon [00:24:31]: Ukrainian. But I read somewhere that the Russians had grown more dependent on fiber optic drones relative to the Ukrainians, and that's one reason why the Ukrainians have sort of regained the initiative in drones recently.Brandon [00:24:42]: How accurate's that?Yaroslav [00:24:43]: The Russians were the first ones to scale that. I think by as of now, Ukraine has caught up. I think, like, as of maybe three months ago, Ukraine is mostly caught up on fiber optic. Yeah.Brandon [00:24:57]: What percent of damage would you say is in terms of FPV drone damage would you say is now fiber optic versus, like autonomous?FPVs as the New God of War: Tanks, Artillery, and Cost per KillYaroslav [00:25:07]: For our, for our audience, I actually, I cannot answer that question. Like, it's like I know the answer, but I would not disclose that. But for our audience, I think another interesting fact is out of all the casualties on the front line Between 70 and 80% are done by FPV drones.Brandon [00:25:30]: FPV drones are the new weapon of universal weapon of warfare.Yaroslav [00:25:34]: It'sBrandon [00:25:35]: Land warfare, anywayYaroslav [00:25:35]: They used to say that artillery is a god of war because artillery used to cause, like 80% of casualties, and now On that ranking-Brandon [00:25:46]: FPVYaroslav [00:25:47]: FPV drones rule.Brandon [00:25:48]: FPV drones are the god of war.Yaroslav [00:25:51]: Sort of. Dethroned artillery. But it's not to say that artillery is not useful, is not needed. Like, all of these systems are needed. Maybe except cavalry, although Russians still use it. I know, have you seen the videos of Russians using mules and horses?Brandon [00:26:09]: What is the usefulness-Yaroslav [00:26:10]: It'Brandon [00:26:10]: Of a tank in the in the modern-Yaroslav [00:26:11]: That's where we need Greenpeace to say a word, but they're silent. Yeah.Brandon [00:26:15]: What's the use of a tank on the modern battlefield?Yaroslav [00:26:21]: It's diminishing.Brandon [00:26:22]: Diminishing.Yaroslav [00:26:22]: However, I think there might be technologies which will, revive the tank. Look, tank still provides you armor, and armor is important. Like, you still need to armor and firepower, right? Like, you can be an armor personal carrier that provides you, armor. The challenge that currently exists is armor is not very well protected against incoming drones. However, there are ways to do to protect it. We were previously talking about this before the podcast. The CEO of Rheinmetall, recently sort of ridiculed, Ukrainian drone industry, saying that like, there is nothing interesting there, no real innovation, no to stand Compared to like, Rheinmetall or Boeing, and it's all made by housewives. There was like, obviously a ton of memes about this people ridiculing the CEO of Rheinmetall. And one of the best quotes, I heard on this topic is from my friend, Alexey Babenko, who's, the head of and founder of VIARI Drone, which is one of the largest manufacturers of FPV drones. They're our partner. They're using our autonomy. So he said that the drones we manufacture in one day will be more than enough to destroy all the tanks Rheinmetall manufactures in a year.Yaroslav [00:27:52]: Then, yeah, cost-wise, of course, a drone is like, $500 and a Rheinmetall tank is what, probably 5 million-ish or maybe more.Brandon [00:28:00]: Don't mess with those housewives.Yaroslav [00:28:03]: Drone wives.Brandon [00:28:04]: Drone wives.Yaroslav [00:28:06]: That's it.Noah [00:28:06]: There's a classic saying that everyone always fights the last war.Noah [00:28:12]: Yet do How did So from your standpoint, how did we get to the point where tanks became irrelevant in at least for now In a matter of just a few years?Yaroslav [00:28:24]: Look, I think it's the same way, how do we get to the point that calculators become irrelevant?Yaroslav [00:28:31]: Now we have iPhones. Like, why would you need a calculator? Technology progresses and its influence grows non-linearly. It's all exponential. So I can tell you that full autonomy, when you put it on a drone Look, so if you, if you think about a tank and a like, it's not a direct comparison, but even, like, a drone and a artillery shell or like, sort of cost per kill, an artillery shell for 155 caliber, which is a standard NATO caliber Currently market price is about $4,000 per piece. So compare that to say, $400 per drone. That's 10 times more expensive. Account for the amortization of the artillery gun and for how vulnerable it is and what is the sort of tactical, capabilities it gives you as compared to a drone. You'll figure out that an FPV drone is maybe three orders of magnitude, more versatile, more useful, more capable than artillery and many of than a classic artillery. Many of Because there are different types of artillery. Not just, like, one 155. You have mortars, you have all that. But give or take, roughly three orders of magnitude maybe. Again, it doesn't have that firepower. It's not one-to-one comparison still.Yaroslav [00:29:53]: Now, take that FPV drone. When you put full autonomy on that FPV drone, which can be not very expensive, like systems that we're, producing are like, in hundreds of dollars of pure bombFull Autonomy: From Human Pilots to Smartphone-Directed Drone MissionsNoah [00:30:06]: Just interrupt. You said full autonomy Just a second ago you were saying that the autonomy here is guidance, right? It's not decision-making.Yaroslav [00:30:14]: No, I was I was saying that's the f-First and sort of easiest pieces of autonomy that was fielded by us. But if you, if you add full autonomy to a droneBrandon [00:30:24]: He, I think he's asking what does it can you, for the listeners, can you explain What the term full autonomy means?Yaroslav [00:30:29]: Basically, I think a good way to think about an FPV drone is like an iPhone of warfare. It's, like, very inexpensive, very mass producible, very versatile. You don't need a bunch of other things when you have a iPhone in your pocket. You don't have, need an MP3 player, you don't need a calculator, don't need other things. All right? So FPV drone is an iPhone. Or like, okay, Apple please don't sue me, is a smartphone. And then, when you add autonomy to it sort of becomes like Uber or ride sharing. Okay? So what it means is instead of actually being a trained pilot who has this complex remote controller device which requires a couple months of training to actually pilot the drone, and then having to pilot it for 30 minutes, flying towards the target, et cetera, et cetera, now you basically, you have your smartphone, you have a drone, you pick your smartphone, you say, “We are here. The bad guys are here. Go and get them.” And the drone goes up, flies in a given direction, localizes itself on the map, finds the dedicated area where they, the bad guys are supposed to be sees the bad guys, bombs them, return, like, watches, so does a damage assessment, returns back, sits down, and then you can pick it up and watch the video if you didn't have the radio link, right?Noah [00:31:59]: That's a bomber drone.Yaroslav [00:32:00]: That's full autonomy for a bomber drone, right?Noah [00:32:03]: You're saying that no human decision is made in this entire process?Brandon [00:32:06]: That's not, that's not what he's saying.Yaroslav [00:32:07]: A human decision was made at the beginning of the process-Noah [00:32:09]: I get it. I get itYaroslav [00:32:09]: The same way as you would fire an artillery.Yaroslav [00:32:12]: When you fire an artillery, you don't stop at like, 500 meters away from a target and ask it whether, you want to strike or not. That's exactly, a human decision is always made at some point. So when you do that's full autonomy, and such full autonomy is happening as we speak. And such full autonomy increases the capabilities of an FPV drone, which is already, like, three orders more powerful than an artillery shell. Full autonomy increases its capabilities by four orders of magnitude because now you can have 100 times as many people who can use it, because you don't need to train those people, and this is important. You can have 10 times, mission success rate, and you can have 10 times utility per drone because now instead of being one-way kamikaze, it's, it can be a bomber.Brandon [00:33:05]: Now wait, let's, you said 10 times mission success rate, which means that fully autonomous bomber drones succeed in their missions 10 times more often than human piloted bomber drones do. That's an important thing to know.Noah [00:33:17]: Maybe, to push back onBrandon [00:33:19]: They're super, they're superhuman. They're, they' 10X superhuman.Yaroslav [00:33:22]: They're not vulnerable to electronic warfare. They don't care about the radio horizon. They don't lose track during navigation. They are not susceptible to human error when, an artillery shell or other drone blows up besides you and you're like, “Hell no,”like, “I'm getting out of here.” Right? That doesn't happen to an autonomous drone. Like, all of those things. Like, we have, like, one of the brigades that's using our drones with just first level autonomy They literally said that their success rates-Brandon [00:33:53]: What's first level autonomy?Yaroslav [00:33:54]: First level autonomy is just the terminal guidance.Yaroslav [00:33:57]: By the way, we have video of that. We can watch that.Brandon [00:33:59]: Terminal guidance means a human gets it nearby and then the AI takes over.Yaroslav [00:34:03]: The human flies it all the way, like 30 kilometers towards the target, and obviously the target was probably given to that human by someone who's flying some ISR drone, some reconnaissance drone, right? So all the way to the target, and once you see the target from a distance of 500 meters, you do target lock, and from there drone flies autonomous. So just that feature alone, it has increased the guy's, his call sign is Grom, so it has increased his, mission success rate, like precision of mission, yeah, mission success rate from 20% to 71%, and it also increased his kill zone from three kilometers to 10 kilometers, which means there's certain area around the front line which is designated kill zone. Whenever enemy goes into that area, it's almost guaranteed to be to be destroyed by a drone. And then obviously the drones are not launched from like, the zero line. They're usually launched from like, minus 10 kilometer-Mission Success, Failure Modes, and the Five Levels of AutonomyBrandon [00:35:03]: What is a zero line?Yaroslav [00:35:05]: Zero line is sort of an imaginary line of control, of two conflicting forces.Brandon [00:35:14]: It's important to explain these things to a lot of the listeners who areYaroslav [00:35:17]: Thank you for askingBrandon [00:35:18]: Familiar with warfare.Noah [00:35:20]: Myself.Noah [00:35:20]: I'm one of those listeners.Brandon [00:35:20]: You said that level one autonomy, in other words just terminal guidance, just, like, human gets it to the finish line and then it goes over the finish line, increases mission success from 20 something percent to 71%, or something like that.Yaroslav [00:35:33]: Increases the kill zoneBrandon [00:35:34]: Increases the kill zoneYaroslav [00:35:34]: Three kilometers to 10 kilometers.Brandon [00:35:36]: Got it.Yaroslav [00:35:36]: On both parameters-Brandon [00:35:37]: What is full autonomy, dude? AndNoah [00:35:38]: Actually on real quick, can we define mission success and like, maybe in a way, what are the failure modes of missions?Brandon [00:35:44]: I have a guess what mission success is.Noah [00:35:46]: But I couldBrandon [00:35:47]: Get ‘em.Yaroslav [00:35:49]: No, but that's a very good question, in fact, because, even if you fly into the target, well, first the target can be damaged or destroyed. Those are two different modes. Then there can be different targets. A sole infantryman is one kind of target. A dugout where supposed there are some, enemies there is another kind of target, and a some mechanical equipment is another type of target. Radio emitting equipment, which, like, often, like, the targets that the military want to get more than anything else is the some enemy radio tower or something like that or some small radio dish that really makes life difficult in that area, in that combat area. So those are different targets, right? It can be destroyed, can be damaged.Then sometimes, the drone hits but doesn't explode. Like, that happens. And then, there are other failure modes. You didn't even reach the target because you were A jammed by electronic warfare; B, you lost the control over drone because of the radio horizon; C, you were jammed by a different type of electronic warfare that happens way before You hit the target area. It's, impacting your, video receiver. So like jamming on video or jamming on control are two different types of jamming. Then something malfunctioned on a drone, just a mechanical malfunction, maybe like a motor broke or like, whatever. So all of those are different failure modes. Yeah, or maybe you got lost, you're navigate navigating to your, to your target. That happens, too.Noah [00:37:41]: The Level one autonomy, basically you manage to point in a direction.Noah [00:37:49]: You go there, and then the last mile The drone taking over.Yaroslav [00:37:52]: We define this like, I define that but it sort of got picked up by the industry. We define five levels of autonomy. So level one is terminal guidance. It's what we just discussed. Level two is bombing. Level three is autonomous target detection and engagement decision. Level four is autonomous navigation. And level five is autonomous takeoff and landing.Noah [00:38:15]: Those are good things to knowYaroslav [00:38:16]: Those are five levels of autonomy. Now, if youNoah [00:38:19]: I have a question for you.Yaroslav [00:38:19]: Sorry. Like, let me finish withNoah [00:38:21]: SorryYaroslav [00:38:21]: Theoretical part.Noah [00:38:23]: What is Tesla running at right now?Yaroslav [00:38:25]: Tesla?Noah [00:38:25]: No, sorry.Yaroslav [00:38:26]: That's very good point. Like, it's exactly, it was inspired by the levels of self-driving autonomy.Noah [00:38:32]: Waymo's level five, right?Noah [00:38:35]: You just tell it where you want to go, it picks you up, and then you go there.Yaroslav [00:38:36]: I think, like, if you, if you look at the classic definitions of self-driving cars, Waymo is still, like, level four because it still requires even remote, but still, like, human control. It's like if Waymo gets in trouble, there is an operator who takes over and resolves this. So that would still be a level four. It doesn't map directly, but it's also five levels.Brandon [00:38:58]: Can I, can I interject a question here? In terms of an FPV drone that's like a suicide drone that'll just blow itself up killing something, how do what it hit? Like, does it, just transmit back, or do you sort of like, lose track of it and hope it hit? Like, what happens to that?Yaroslav [00:39:16]: That's a great question. SoBrandon [00:39:18]: You need another droneYaroslav [00:39:19]: Like, the current battlefield in Ukraine is saturated with different types of drones. So obviously you have all the FPV drones and last year alone, Ukraine manufactured about 4 million of these, and then Russia's maybe, like, 20% less than that. And for this year, the publicly voiced target was 7 million on Ukrainian side. So it's, like, serious numbers. We're getting in serious numbers here. And then besides those, there are different, reconnaissance drones, ISR as we call them, and there are sort of tactical level ISR where we, both Ukrainians and Russians usually use, Mavic, drone by DJI. And then there are a bunch of locally produced drones, which are sort of fixed wing drones that can stay in the air for much longer than Mavic, maybe, like, half an hour. And then, there are drones that can stay for many hours or even up to a day. And those drones have, are more expensive, have more expensive cameras, et cetera, et cetera. We hunt those drones that Russians launch. The Russians hunt our drones, and so on. But ideally, when you, are a group of soldiers operating an FPV, you'll have someone in your, company, or someone in your platoon who has an ISR asset that will do target designation for you. They'll say, “Oh, like, there's a Russian vehicle over there. Go and get him.”and you go there, you get it, and they're like, “Okay, confirmed.”Battlefield Surveillance and the Eight Dimensions of AutonomyBrandon [00:40:57]: Those guys are watching. They have their own drones in the sky.Yaroslav [00:40:59]: Target destroyed. They have, like, a carousel of drones because One Mavic cannot stay more than 30 minutes. ItBrandon [00:41:06]: They're constantly surveilling the battlefield.Yaroslav [00:41:07]: Almost every spot on the battlefield.Yaroslav [00:41:11]: It's not always the case. Sometimes you will not have a surveillance asset, so then you would launch another FPV just to confirm that there was a hit. Then if you see there was a hit and you're not sure if it completely destroyed, you maybe hit again for good measure.Brandon [00:41:26]: You double tap.Yaroslav [00:41:28]: That's how it works. But I was about to give you another sort of piece of taxonomy. So you have five levels of autonomy, right? Then you have sort of eight dimensions of autonomous battlefield. So what is eight dimensions? It's crucial to understand how autonomy evolves in a modern, battlefield environment. So dimension number one is level of autonomy. What are the capabilities that your asset has? Dimension number two is the platform you're operating on. So it can be a quadcopter, a fixed wing drone, different types of maybe, like, a long range drone or short range drone, but it can also be a missile. You can have autonomy even on an artillery shell or a ground vehicle or a sea vehicle. So all of those are different platforms. Level three would be domain. So it's ground to ground or ground to air as an intersection, or ground to sea or sea to air. They're all, like, all the nuances with different domains. Then level four, would be higher levels of autonomy, such as swarming, drone carriers, drone nests, et cetera.Brandon [00:42:39]: Now when you're saying level, you're talking about dimensions, not about-Yaroslav [00:42:42]: Sorry. YeahBrandon [00:42:43]: Autonomy levels. So dimension four.Yaroslav [00:42:43]: The dimension. Yeah, I used to say I was supposed to say dimension. I say dimension because each of them works with another, right? So you might have, like third level autonomy, fixed wing drone operating in land to air, and stuff like that right? And then operating in a swarm or operating from a nest. Right? Then you have, sort of dimension number five is environment. So is it day or night? Is it summer or winter? Is it, humid, cold, dry? What kind of target is it? Is your target hiding in a forest, or is it, behind a hill or within buildings? So all of that is environment. Then you have, dimension number six is command and control. How are you dealing with or like, tens of thousands of those assets around the battlefield? How are you coordinating that on the higher levels of command? How are you collecting data? All that.Yaroslav [00:43:44]: Dimension number seven would be infrastructure, so things like simulation, data collection tools, security, deployment mechanisms, et cetera. So all those systems have to be developed separately and integrate with all the others. And finally, dimension number eight is sort of distribution. Have you deployed 100 of these systems or 100,000 of these systems? Because those are two very different ballgames. So that now gives you a more broad overview of how autonomy propagates across the battle space.Targeting, Human Responsibility, and Rules of EngagementNoah [00:44:23]: As someone who has done machine learning and had gone out of distribution and had things, go horribly wrong, you were talking several of these, kind of axes of thinking about drone warfare seem like they could be very susceptible to some sort of distribution shift if you start making things autonomous.Yaroslav [00:44:41]: Like what?Noah [00:44:41]: I mean Well, first ofYaroslav [00:44:43]: If the I'm very interested Sort of sort of kinds of scenarios that you're thinking about.Noah [00:44:48]: Like the most obvious one is you, if I assume these are computer vision guided systems for at least the last mile, how do you ensure that oh, well, like you now have some fog roll in or something, and you, the drones just attack the wrong thing? Or maybe, it probably will not turn around and fly back and attack you, but youYaroslav [00:45:10]: Same, the same, the same question, how do you ensure that your mortar fire hits the right thing? Well, it's like mortar fire, give or take half a kilometer could be plus or minus. So maybe you fire one, and then you fire another. So drones are actually, much better in being precise in those scenarios. And I think, to your point, I think five to 10 years from now it will be immoral to use weapons without AI.Yaroslav [00:45:44]: ‘Cause weapons without AI will be more likely to cause, collateral damage or unwanted damage. Same way, it will be immoral to drive your own car manually on a public road because it's more likely to cause, unwanted damage.Noah [00:46:02]: Wow, I never considered that mightBrandon [00:46:04]: Really? That's definitely coming.Yaroslav [00:46:07]: Anyway.Brandon [00:46:07]: No, but that' I don't know, it's an obvious, an obvious thought. I agree with you.Brandon [00:46:12]: I, No, they, obviously they're not going to let you drive once most of the cars on the road are autonomous.Noah [00:46:17]: No, that one, don't I believe.Yaroslav [00:46:19]: No, I think you were you were talking about drones, right?Brandon [00:46:21]: The drones, right. Cool.Yaroslav [00:46:22]: The weapons, right?Brandon [00:46:23]: Friendly fire and collateral damage and stuff like that is all minimized with AI.Brandon [00:46:27]: Here's my question. Take all let's go to level six autonomy. Let's take all of the target selection. Let's take all the battlefield data, integrate it into one big AI, and have that big AI basically be in command of the battlefield And agentically do target selection.Yaroslav [00:46:44]: Be the general, right?Brandon [00:46:44]: It's a general. It's, you've cut humans out of the loop except maybe as dexterous robots, repairing drones and fastening things to drones or maybe something like that because you don't have those robots yet. How soon are we there? AI general.Yaroslav [00:46:58]: The most important thing to ask ourselves is who will be faster to that us or our adversaries?Brandon [00:47:07]: I assume us, but how fast will we be to that? I hope us.Yaroslav [00:47:11]: I hope so too.Brandon [00:47:12]: How fast can we Like when are we looking at that in terms of like horizons years?Yaroslav [00:47:18]: Like technically, it could be done now. The question is of course, there's, some engineering work to be done. The bigger challenge is deployment. Right? So okay, technically Like operation in Iran, right? They, the publicly, it was claimed that I think Palantir system was used for target designation, et cetera, et cetera. So it is not exactly as you say, the AI makes all the decisions, but basically AI goes through all the data you have, gives you these 1,027 different targets and says, “You-- To confirm, please press Okay.” And you look at the targets and you're like, “Yeah, sounds right. Press Okay.”so that's, I think that's where we are now already, or we were a couple weeks ago as we're recording this on April 10th. Another question is how massively deployable it is. Is it, like, every decision being made like that or is it, like, just some of the decisions made like that? And then different levels of command and control. There you have, like, the platoon, the company level, the battalion, et cetera, et cetera, et cetera. But the tricky thing here when we get into that territory, the tricky thing is If your enemy is getting advantage of being Thousand times faster than yourself by deploying such systems What do you do?Yaroslav [00:49:10]: You got to-Brandon [00:49:12]: The if the enemy is a thousand times faster than you at deploying those systems?Yaroslav [00:49:16]: Like, if enemy starts deploying level six autonomy, as you call And you have not started doingBrandon [00:49:22]: You're in troubleYaroslav [00:49:23]: Yes, exactly. So you have to catch up. So my point is that it is very important to think about the safety of these systems, but that thinking should not slow you down in developing them because they are critical for your existential, survival, right? And like, one person who doesn't think, doesn't get to think about the ethics of the war is a dead person. That person surely doesn't get to think about that.Brandon [00:49:52]: What would be the safety risk of such a system?Yaroslav [00:49:55]: Of course-Brandon [00:49:56]: Friendly fire?Yaroslav [00:49:56]: Just wrong decisions, right?Brandon [00:49:59]: I see.Yaroslav [00:49:59]: Maybe, these decisions-AI Command Decisions, Dead Zones, and Complex BattlefieldsBrandon [00:50:06]: Skynet AI decides it's going to useYaroslav [00:50:08]: No, these-Brandon [00:50:08]: Drone army to kill usYaroslav [00:50:09]: Decisions will not only be made about drones. They are likely to made about what the humans should do on your side as well. Then obviously some environments are more like Ukrainian-Russian war, where you haveBrandon [00:50:26]: It will have to choose to risk lives. It will have to choose to sacrifice human lives-Yaroslav [00:50:28]: Of courseBrandon [00:50:29]: On your side.Yaroslav [00:50:29]: Of course. And then some environments are just, like, dead, like, dead zones and there are no civilians there, or virtually no civilians close to the front line because, like, super dangerous. Everyone has evacuated from there. But there are other environments which are more like, okay, there's a counterterrorist operation. There's, like, a group of terrorists or a group of civilians. Or like, it's like the recent operations in Iran, I imagine that the US and Israeli forces do not want to harm civilians. They only targeted the military targets there, right? So in those situations, it's a different level of responsibility for that decision-making as well. And then there is just such a big variety of those military missions, and I'm not even, like, well-informed or well-educated in military science to tell you about all those scenarios. We would need to put some general besides me, and maybe a Ukraine general and American general would have told you very different stories about these things.Brandon [00:51:34]: Got it. Can I ask a few more questions? All right. So in 2013, I wrote one of my first, paid articles ever was about how the era of drones will change human society. I was just sitting around bored thinking about things.Yaroslav [00:51:54]: You were way ahead of your time.Brandon [00:51:55]: I said, I said, “The following will happen.”Yaroslav [00:51:57]: It's, this article is real. I've read it.Yaroslav [00:51:58]: It's actually-Brandon [00:51:59]: I said small autonomous, suicide drones, will cleanse the battlefield of human infantry. Human infantry will not be able to stand against swarms of AI-powered, suicide drones. That was I didn't even know about, like, AlexNet at the time, I think.Yaroslav [00:52:19]: You're just an avid sci-fi reader.Brandon [00:52:23]: I'm an avid sci-fi reader, but also, like, it's not Like, there will be a way to do that. It's a it's a nonlinear multidimensional search problem, and you get enough compute, you'll find some search algorithm that will get you there. And soBrandon [00:52:38]: I, yeah, I think that one sentence describes the bitter lesson right there.Brandon [00:52:41]: It's just like it's a multidimensional search space. You search it somehow. I don't know. Figure out some get a grad student-Yaroslav [00:52:47]: Sooner or laterBrandon [00:52:47]: To make a search algorithm.Brandon [00:52:48]: It's not that hard. Anyway, so but then, but I guess the point is The point is that human infantry on the battlefield will be will be gone at the end. I wrote that in 2013. Many people on social media laughed at me for that called me hysterical, said things like, “Electronic warfare will knock all the drones out of the sky.”like, “You need humans to hold ground.”that's something you still hear from a lot of people on social media today. I feel that this article that I've written has never been directionally wrong. It has gotten more and more right steadily over time, and that we're very reading the battlefield reports from Ukraine, where, human infantry are basically guy, like a few guys hiding in dugouts for months, and I'm not sure what they're doing.Yaroslav [00:53:35]: That's on Ukraine's side. On the Russian side, that's just like a zerg rush.Brandon [00:53:38]: The zerg rush, and then they just die. Then, but they have some guys in dugouts too, right? Like hiding in dugouts for months.Yaroslav [00:53:45]: They have. Yeah.Brandon [00:53:45]: Like, but that like, what are those guys doing in the dugouts? Are providing, like, frontline, like, reconnaissance? Like, what are they doing?Yaroslav [00:53:54]: If there is a guy in a dugout with some bullets and automatic weapon, the other guy cannot come and take the that dugout. That'Brandon [00:54:07]: I seeYaroslav [00:54:08]: They are they're establishing control over territory.Brandon [00:54:10]: I see. So that is so there still is a use for human infantry on the battlefield as of today.Yaroslav [00:54:15]: LikeBrandon [00:54:15]: How long will that last?Yaroslav [00:54:17]: I think it will last for a while. This is funny. There's this whole Layer of the modern culture, a modern Ukraine culture built around the war-related stuff. So there is this -Punk rock band, that is called SZC, I guess in English that would be. Which stands short for like a deserter or something like that. So anyhow, this band has a song titled “2030.” It's basically about the year 2030, and the war still goes on as like the whatever, third world war or whatever. And they basically, they, sang about the AI and like cyborgs and everything, but the simple infantry is still needed, and we're still, like, getting cold in those dugouts, and we're still doing our job. That's sort of the theme of the song. And it seems like that's actually what's going to happen. There areGround Robots, Simulation, and the Limits of World ModelsBrandon [00:55:30]: Ground robots will not replace humans in the dugouts soon.Yaroslav [00:55:34]: I'm very much interested in following the whole humanoid robot theme andBrandon [00:55:39]: What about like a dog robot?Noah [00:55:41]: Or just mobile controlled platforms or something.Brandon [00:55:44]: Spider robot, yeah.Brandon [00:55:45]: Everything evolves into a crab.Brandon [00:55:46]: You build a crab robot.Yaroslav [00:55:47]: A humanoid-Noah [00:55:48]: The carcinization of warfare.Yaroslav [00:55:51]: There is a lot of utility in humanoid robots because the world is designed around humanoids. So I would not, like, 100% disqualify the possibility that sometimes 10 years in the future, humanoid robots, will be actually fighting. So that's an actual Terminator kind of scenario.Brandon [00:56:14]: Yeah, in the first Terminator movie, you look at what they've got on the battlefield, they've got flying bomber drones and humanoid robots.Yaroslav [00:56:20]: Look, the cost of large language models of running them is getting so low, you can have basically an inexpensive computer running, what was a state-of-the-art model a year and a half ago, running it locally on a device with an open source model, which also means that the Chinese can have it, the Russians can have it, the North Koreans can have it, et cetera. So that is already possible. And with when we're looking at the acceleration of the neural nets, I would've, if not the acceleration of the large language models, I would've said that I don't think that humanoid robots will be able to be useful in the battlefield earlier than in 10 years. But if you account for the exponential, it might be five years or so. The problem with all of the autonomous systems, and it's like starts with self-driving cars and even with all the AI, like modern day AI agents, to make them really, useful, you have to solve such a long tail of edge cases, that it's really difficult to make them useful. Like we were promised, self-driving cars, what, like 2007, Sebastian Thrun and Google, and even before that all the challenges, everything. And Elon of course told us it's going to be one year from 2014, and now we still don't have self-driving Teslas everywhere. We have Waymos in SF and some other places, but they're still, like, not perfect. So I think, I expect something similar from self-flying drones and fully autonomous drones, and we saw that firsthand as with each level of autonomy that we're adding, there is a very wide distance between a prototype and something that is ready to be scaled to millions of units and something that has been scaled to millions of units. But the race with like AI coding tools is just insane. So things might accelerate very fast, faster than we can imagine.Noah [00:58:46]: I think your point is that with due to this long tail behavior Level one autonomy as you've defined it, is actually very natural. Like you basically are just solving an image recognition and tracking system.Yaroslav [00:59:02]: It's actually interesting that you say it that way, and I thought about this the very same way, and we have this joke that there are like 200 companies in Ukraine which are trying to solve last mile, targeting or terminal guidance. It seems like we're like the only company that actually solved that because even that problem-Noah [00:59:22]: I'm not saying it's, I'm not saying it's trivial, but it's at least something that you imagine given our current state.Yaroslav [00:59:26]: Like us and Eric Schmidt, like Eric Schmidt's companies are pretty good.Yaroslav [00:59:29]: Like, I actually have lots of respect to what they're doing, and they're, they have been practically influential and helpful on the battlefield, and they have good engineering.Noah [00:59:38]: I wasn't, I wasn't saying it's trivial. I'm just saying this is a something naturally adaptive based upon things that we know work, well. But some of the other domains that where you do have to make decisions and you have a long tail become much harder, and you worry about edge cases more.Yaroslav [00:59:57]: Like the more, the more complex behavior you're trying to simulate, the more edge cases there are right? The more ways to do it wrong there are. And then there are different approaches. It's like if you think about, if you read academic papers about robotics, right? You sort of the robot is represented as something that has the sort of sensor input, and then you have three, levels of sort of logics or decision-making, which are perception, planning, and control, and then you have actuators as output.So pre-neural nets, you would do perception output and control all with classic logics, right? Then, with AlexNet and computer vision, you could do perception with neural nets and the rest with logic. You cannot currently do each of those separately with neural nets, each of those separately with logics, or you can just have one huge neural net that just takes lots of sensory data. It's not just pixels. Could be sound, could be accelerometer, could be everything, as input, and just outputs the controls. And some of the self-driving car companies are doing that or like, experimenting between different ways of doing that. So you can also, like, think about that and the way you implement those features, also influences how much degrees of freedom the system would have, right? Like control, you can do it classical algorithmic control with common filters and PAD filter, PAD controllers, et cetera, or you can do a neural net, that was trained in a gym with a reinforcement learning, et cetera. And those would be two different behaviors of a system.Noah [01:01:53]: I-- Maybe my point was just much more high level. It'Yaroslav [01:01:56]: Or you can If you go even like, if you go high level, you can, you can like train to like have whatever, like Feifei Li and folks who are doing like physical, sortBrandon [01:02:08]: World modelsYaroslav [01:02:08]: World models, right, physical intelligence, they're trying to make these big models and sort of understand the world and then supposedly you have such model and you can tell a drone, “Okay, like, go over that hill and like, find the bad guys and then get them,”or “Make me a video, make me a photo of the guy smiling and get back to me.” Right? That's one way. Another way you have like these subsystems, like one is navigation, another is finding the person, another is like getting to them to take a photo. And those are again, very different behaviors. And then it's not that one is necessarily better than the other, and we might have more technological ability to do one or another. But all of those systems will exist. And then again, you should always keep in mind that it's only the not only the good guys that are developing these systems, the bad guys are developing these systems as well.China's Drone Supply Chain and the West's Manufacturing GapNoah [01:03:00]: I guess where I'm going with this back to Noah's original thought with the end of the end of the soldier. And so in order to replace-Brandon [01:03:10]: Or at least the end of the rifleman.Noah [01:03:11]: Or the end of the rifleman, yeah.Yaroslav [01:03:13]: I'm not seeing that very close, and it was like I'm, as much as I'm a lover of sci-fi and all of that and a technologist, the more I try to beYaroslav [01:03:27]: Like the I try to have certain humility about these things, and like the military, domain and there was just so much human history and blood and tears, dedicated to sort of understanding this art of war and perfecting it and so on. There is so much knowledge in there that I don't feel like I even started to comprehend, a lot of that. But one thing that I really understood is that even though drones are now making eighty percent of the casualties, you go to the actual officers, you talk to the actual, like, brigade commanders, corps commanders, and they explain to you, how all of it fits together, how when you're thinking about an operation that involves a couple thousand people to get this piece of land, out of the enemy's hands, deoccu deoccupy it, how it is so complex, it involves, dozens of different types of drones and then land operations and reconnaissance operations, psychological operations and then aviations and tanks and logistics and all kinds of these different assets. So modern warfare is really very complex, and the fact that the drones are the latest, coolest thing, and then the AI is latest, coolest thing, doesn't mean that now it's that and only that right? So yeah. Whoever's looking into that I think should realize that it's not just what the press talks about, that the reality is much more difficult, much more complex.Brandon [01:05:17]: Let's talk about China and China's manufacturing capabilities. So suppose that someone, like suppose the United States went to war with China. AndYaroslav [01:05:26]: I hope not.Brandon [01:05:27]: I hope not as well. And then but suppose that drones were very essential to that war of all the types of drones that we're talking about here, and that suppose that China said, “All right, well, you need X and Y and Z, to make those drones to fight us, and we control the production of X and Y and Z, so we're just going to cut you right off, and now you have no drones.”Brandon [01:05:47]: I know that a number of countries, including Ukraine and Taiwan, have been making moves to China-proof their drone productions that China couldn't do that. Examples of things they might be able to cut off might include rare earths, fiber optic cable that you were talking about before, various other things that where even if they don't control one hundred percent of the production, they control enough of the production that would be extremely expensive to produce it without relying on Chinese sources. Or the market's fragmented enough, et cetera. What do you see as China's key bottlenecks, and how easy are those to overcome in terms of China-proofing drone production in case of a war against China?Yaroslav [01:06:30]: Let me start with a saying that -Although China does not sell directly to Ukraine and it does sell directly to Russia, a lot of Ukrainian supply chains, they start in China, right?Yaroslav [01:06:49]: We're not in a conflict with China, and we would not want to be in a conflict with China. And we'd hope that China stays a neutral power between Ukraine and Russia and the US as well. That said, the scenario that you're describing, everything is much worse.Yaroslav [01:07:11]: Think about this. Last year, Ukraine produced four million FPV drones. Ukraine is not the most industrious nation in the world.Yaroslav [01:07:19]: China can produce four billion of these FPV drones.Yaroslav [01:07:23]: China can make them not drones with propellers, but fixed-wing drones, which go not forty kilometers far, but maybe two to three hundred kilometers inland.

Yann LeCun, Turing Award winner and former Chief AI Scientist at Meta, joins Jacob Effron. The conversation centers on Yann's contrarian thesis that LLMs are a dead-end on the path to human-level intelligence, despite being useful products — because they can't predict the consequences of their actions, can't plan, and fundamentally can't model the messy, high-dimensional real world. He unpacks his alternative architecture, JEPA (Joint Embedding Predictive Architecture), which learns abstract representations rather than generating pixel-level predictions, and explains why this approach is essential for robotics, industrial applications, and any system that needs to operate beyond the substrate of language. Yann also reveals the real story behind his departure from Meta (he had zero technical influence on Llama, contrary to public narrative), the genesis of his Tapestry project for sovereign open-source AI, why he believes LLMs are intrinsically unsafe, where he diverges from his fellow Turing laureates Hinton and Bengio, and why he predicts the industry will recognize the paradigm shift by early 2027. Throughout, he offers candid reflections on the tension between research and product at major labs, and why he intentionally headquartered AMI Labs in Paris with zero Silicon Valley VC money.   (0:00) Introduction  (01:45) Why LLMs Aren't the Path to Intelligence  (07:51) AMI and World Models  (12:07) The JEPA Architecture Explained  (15:55) Problems with Robotics Models Today  (20:37) Silicon Valley Herd Behavior  (28:18) Tapestry: Sovereign AI for the Rest of the World  (35:49) OpenAI Is the Next Sun Microsystems  (40:51) Why Yann's Views Diverged from Hinton & Bengio  (44:32) LLMs Are Intrinsically Unsafe  (58:00) Why Yann Left Meta  (1:00:26) Reflections on FAIR  (1:12:11) Advice for PhD Students   LeWorldModel Paper: https://arxiv.org/abs/2603.19312   With your host:  @jacobeffron  - Partner at Redpoint

A version of this essay has been published by firstpost.com at https://www.firstpost.com/opinion/iran-war-no-winners-oil-de-dollarisation-global-impact-13992276.htmlWar is hell, we all know, and it's bad for everybody, but there is – usually – a winner. After more than three weeks of the Iran war, I am beginning to believe that there are no winners here, only losers. The principals are overextending themselves, and will suffer as a consequence. Innocent or not-so-innocent bystanders are suffering significant collateral damage.Some are getting hurt more than others, so it's mostly a question of degree: but the bottom line is that this is war that is just not good for anybody. As usual, Henry Kissinger had a useful aphorism: “It's a pity both sides can't lose”, quoth he. (Hat tip to reader Sudarshan M). Well, Henry, both sides are losing this one, so take heart: your wish has come true.Someone made the analogy of going to Family Court with a dispute: there are no winners, as the father, mother, and the children, will all suffer, whatever the outcome. It is best in that situation to listen to a counselor and solve your problems amicably. Similarly, it would be good to find a neutral intermediary to help iron out a ceasefire in this war, too.In a way, this war is the classic idea of irresistible force meeting an immovable object, thus leading to a stalemate, as Walter Russel Mead suggested in the Wall Street Journal.First, the toll on the belligerents, in alphabetical order:* Iran. It is creditable that Iran has held out against the might of the US war machine for three weeks and more. My belief is that they can keep it up for a while longer, because they have been preparing for this eventuality for some decades, ever since the 1979 crisis in which they held Americans hostage for 444 days. They are taking, and will take, horrendous losses, but it will be difficult to completely overthrow the Islamist regime. Among other things, Iran is a large country, about half the size of peninsular India.* The US attack on Kharg Island's military targets (but not its oil terminals) has shown that Iran's oil exports could be in jeopardy, pushing global prices up.* Just like their proxy Hamas, it appears Iran has built extensive tunnel complexes, veritable underground labyrinths, where they are hiding all sorts of things, including fast patrol boats. Their military assets are doubtless ensconced in these tunnels which makes them hard to locate and possibly quite mobile.* Israel. Iran's consistent rhetoric that Israel doesn't deserve to exist leads to fears that Iran's nuclear arsenal (if and when built) will be primarily aimed at Israel. This, and troubles with Iranian proxies such as Hezbollah and Hamas, have led to massive Israeli human intelligence penetration of Iran (as seen in the Stuxnet incident as well as the effective strikes on the Ayatollahs and Hamas, including the pager incident). But Israel is also believed to be taking heavy losses, which it can ill afford, although information has been tightly censored. There were apparently missile attacks near Israel's nuclear sites at Dimona as well.* The US. The original idea of a decapitation strike that would lead to a rapid regime change as the Iranian public rose up and anointed a new leadership (one more acceptable to the US), was questionable, as I pointed out fairly early. It appears that the CIA and US intelligence have just one playbook, which they used more or less successfully in Iraq, Libya, etc. But that was never going to work in Iran, and now the US is stuck with a tar-baby and may be quietly seeking de-escalation and an off-ramp.* Talk of a Marine Expeditionary Unit of 2500 American soldiers re-deployed from Japan means “boots on the ground” followed inevitably by that dreaded word, “body bags”. The troops will be meant to keep Hormuz open, or perhaps to capture Kharg Island. Whether they can achieve these is unclear right now.* However, overall it appears that the US' capacity to coerce other countries through economic means is declining, as suggested by the FT in “The era of US dominance in economic warfare is over” on March 17th.Now for the others in the firing line and in the periphery:* The GCC, consisting of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. They have taken the brunt of the Iranian drone and missile attacks, and their oil and gas exports, and economies, are affected by the closure of the Straits of Hormuz. But more alarmingly, their food and water supplies may also be affected, and they are, being desert nations, highly dependent on imported items via the blockaded Hormuz, and critically dependent on their desalination plants. Keeping the Straits of Hormuz open may be critical for them. They have been with human casualties, infrastructure damage, and reputational damage as well. In particular, Dubai, which has been a magnet for high-net-worth individuals, is affected.* Lebanon and Jordan. Lebanon was hit by Israeli fire, and Jordan by Iranian fire, although they are mostly bystanders. Israel has been responding to increased activity by Iranian proxy Hezbollah, and Iran has sent drones and missiles towards Jordan as part of general horizontal escalation.* Pakistan and Turkey. These are wild card nations in the conflict. So far they have not (yet) been affected badly, but they have to walk a tightrope. On the one hand, it is very likely that Pakistan has offered logistical and intelligence support to the US in its air attacks on Iran. On the other, as a fellow-Islamic nation, Iran has, under both the Shah and the mullahs, consistently supported Pakistan (especially against India).* Furthermore, if there is a ground assault on Iran, it will probably involve Balochis from Pakistan and Kurds from Turkey, both attempting to capture land in, respectively, the Sistan and Baluchistan Province, and the heavily Kurdish regions of Iran bordering Turkey.* Turkey, as a NATO member, is obligated to support the US, despite its Islamist leadership which is duty-bound to side with the fellow-Islamic Iranian regime. The traditional Sunni-Shia split, which has been exacerbated by Shia Iran attacking Sunni Gulf nations, sharpens the dilemma for both nations. (Meanwhile, Pakistanis slaughtered 400 Afghans by bombing a hospital, but they get a free pass from, e.g. the BBC.)* The United Nations. It has been rendered superfluous. Nobody even called for a Security Council meeting condemning the war. This is the latest in a long process wherein whatever the UN, or many other multilateral organizations do or say has become immaterial. The UN, hit by a budget crunch, might as well be shut down.* Europe and Britain. The EU and NATO have been noticeably absent in the discussions about the war. Of course, they are likely to be affected by the increase in hydrocarbon prices. In fact, their folly in shuttering their nuclear power plants in pursuit of vague ‘green' goals has put them at the mercy of Russian oil and gas. In particular, the virtual shutting out of Britain from the entire war is notable, considering that their Whitehall has long managed to treat the US Deep State as their vassals, ‘master-blaster' style.* Russia. Even though Russia has long been friendly with Iran, it has desisted from doing anything that could bring it into direct conflict with the US. Russia is probably supplying satellite and other reconnaissance data as well as spares for existing systems (such as the S-300 air defense batteries, Su-35 fighters) and possibly Iranian-designed Shahed drones as well. Interestingly enough, Russia may be the one possible winner in the war, considering its oil is now a coveted commodity, prices have soared, and there is less attention being paid to its Ukraine war. Europe, China and India are ever-more dependent on Russian oil, and the windfall profits may be sustainable. The US may even lift its sanctions and bring Russia back into the Western fold.* China. There are wins and losses for China, but in sum it may also be a bit of a winner.* The loss is in energy security: China has lost Venezuelan oil as well as access to Iranian oil, but they have overland pipelines from Russia, as well as access to Russian tankers at sea. Besides, they have a massive strategic petroleum reserve (1 billion barrels), so it should be manageable, for a while at least. Cuba, their reliable ally in the US' backyard, is now back to the wall with the US enforcing a blockade.* On the other hand, they have acquired a significant military edge: US munitions inventory has been getting depleted at a furious rate, so much so that if China were to attack Taiwan now, the US would be hard pressed to intervene. Even US THAAD (Theater High Altitude Air Defense) systems are being cannibalized: after four of their radars in the GCC were damaged, the US is forced to scavenge for them from their South Korean bases. Now comes news that China is massing both civilian ships and military aircraft near Taiwan, quite possibly a precursor to an actual invasion.* Unfortunately for China, their weapons systems don't seem to have performed very well in Iran, just as they didn't in Operation Sindoor. There are sarcastic posts on X, especially about their radar that looks like a big grille and is supposed to detect stealth aircraft, but didn't quite work.* China has also been on the horns of a dilemma, as it were: what would Xi do when Trump visits in April while in the midst of a war with one of China's principal allies? It would be “damned if you do, damned if you don't”. If China were to greet him warmly, it would send a negative message to Iran, as well as its other Belt and Road Initiative partners. If China were to treat Trump coldly, then trade wars will continue. Fortunately for Xi, Trump decided to delay his visit; perhaps he intends to continue the war well into April, or maybe he thought he'd be too much at physical risk. It's interesting to speculate on why Trump did this, but of course it may have been just whimsy.* India. This war is pretty much a disaster for India from every perspective. Being dependent on Persian Gulf oil and gas for everything from transportation to household cooking fuel to raw material for plastics to APIs for pharmaceuticals leaves India particularly exposed. There are other big vulnerabilities:* The $50 billion in remittances sent back yearly by 10 million Indians toiling away (often in very difficult circumstances) in that area, in addition to the personal hardships these migrants will face, including life and death situations.* Despite large increases in renewable energy, the major energy input, especially in transportation, continues to be imported oil and gas. Households have largely switched from wood-burning stoves to (admittedly much less polluting) bottled or piped gas. At the very time that electricity demand is peaking (e.g. AI data centers and railways), this disruption may have severe consequences.* The feedstock for agriculture is increasingly petroleum-based, and disruptions in fertilizer availability may cause production costs to skyrocket. Increased transportation costs will make vegetables and grains more expensive for those states (such as Kerala) that depend on internal transfers from producing states. In the short run, some agricultural commodity prices have collapsed as their primary markets in the Persian Gulf are inaccessible due to the Hormuz blockade. Basmati rice prices are down by Rs 5-10/kg according to LiveMint.* Trade through Chabahar Port (where India's $120 million investment is at risk) to Central Asia bypassing Pakistan, will likely grind to a halt* The dramatic increase in the price of oil (from around $60 per barrel to $100-$120, and threatening to go higher) is a huge ‘tax' on India, and a transfer of wealth out of India, which may reduce GDP growth by as much as 1-2%, and push inflation up to 4-5% (according to the Economic Times).* The ‘Goldilocks moment' of low inflation and high growth is possibly over.* The one positive for India will be the increasing importance of the India-Middle East-Europe Economic Corridor (IMEC), which is basically the old Spice Route,, e.g. containers from Mundra and Vizhinjam to Dammam in Saudi Arabia or Jebel Ali in the UAE, then by rail to Haifa in Israel, and onwards to Piraeus in Greece by sea.* There is really no obvious benefit to India if the war continues, and therefore it is in India's interest to try to be an ‘honest broker' intermediary which has reasonably good relations with all the belligerents as well as the frontline GCC states. India could use its diplomatic goodwill to try to bring the war to a quick close, thus pursuing its own interests as well as something in the larger good of the global economy.There are a couple of other notable points in this war. One is from systems theory, and the other is from 18th century colonial British machinations in India; and finally a speculation about the future of the US economy and even the US nation.Distributed SystemsSystems theory suggests that distributed systems are far more resilient than centralized systems, because they may have redundant mechanisms that come into play when the primary mechanism is knocked out. Iran has anticipated decapitation strikes on its leadership, and the danger that signals intelligence from their foes may tap into all communications. Therefore, it appears they have created a system where 31 independent IRGC military commands have the autonomy to take local decisions without a go-ahead from a central authority.This means it will be relatively hard to quell all resistance, as some commands may fight on even if large parts of the country are conquered. It makes their actions also more unpredictable and potentially more dangerous.It is interesting to compare this to the sudden collapse of the Persian Sasanian Empire to invading Arab Muslim armies in the 7th century, when they were conquered in a space of no more than twenty years. Even though there were other factors like imperial exhaustion from constant wars and long supply chains for the Arab armies, the contrast with the Hindu resistance (of several hundred years in Sindh) suggests that the decentralized nature of the Hindu kingdoms played a significant role in their ability to fend off the Muslims for centuries.The Tipu SyndromeIn the late 18th century, imperial Brits pulled off a particularly clever ploy in southern India. Tipu Sultan, Muslim king of Mysore, invaded Malabar in a combination of religious jihad and economic loot. He was intent on both forced conversion and on the loot of Hindu temples in Malabar, which had grown rich from millennia of the trade in spices, especially black pepper. As Sanjeev Sanyal suggests, temples were banks and venture capitalists to trading guilds.Britain did conduct some desultory campaigns against Tipu, who was allied with the French, but did not accomplish much. In the end it was the desperate breaching of a natural dam on the Periyar by Travancore forces in 1790 that forced Tipu to retreat, as his artillery, munitions and supplies were flooded and swept away. Of course, then the British charged the entire cost of the 3rd Anglo-Mysore War to ‘ally' Travancore, bankrupting it.Next, the British attacked Tipu's headquarters, Srirangapatnam, killed him, and took all the loot. In other words, Tipu did all the dirty work in collecting the booty from the temples, and the British got it all in one stroke. And looked good, at least in their own propaganda, for killing a tyrant.A very similar thing happened in 1973. Arab oil states quadrupled oil prices (from $3/barrel to $12), imposing a massive strain on hapless developing countries such as India, leading to severe distress. Under the 1974 US-Saudi agreement, oil sales were to be only denominated in US dollars, thus leading to the ‘petrodollar' accumulation with OPEC. They recycled this money via buying US Treasury bonds, and especially via buying US arms, to the delight of the Military-Industrial Complex.Thus the net effect of the 1973 oil crisis was a large transfer of wealth from the developing countries to OPEC. The US economy did not suffer greatly (despite long lines at gas stations) and in fact US deficits were funded by petrodollars for the last several decades. This is why any move to de-dollarize oil sales is strongly resisted by the US.Summary: Oil and the petrodollarAt the end of the day, American wars always seem to go back to simple ideas: control of oil, and the prevention of de-dollarization. It makes sense: why not use economic and military heft in pursuit of the national interest? Those who go against this learn a big lesson, to their discomfiture: Saddam Hussein in Iraq wanted to trade oil in Euros, Muammar Gaddafi in Libya wanted to create a new pan-African currency in which to trade oil, Nicolas Maduro was trading in yuan and stablecoin, Ayatollah Ali Khameini has been selling in yuan mostly, and not at all in dollars. That meant they all had a Damocles' sword hanging over their heads.Putin and Xi are undesirables too, but then they have nuclear arsenals, which everybody has to respect.The dollar has been hegemonistic ever since Bretton Woods. Even allies learn to respect American sensitivity over the currency. The Japanese economy, once growing at a blistering pace, was ruined after the Plaza Accord of 1984, which set the yen-dollar exchange rate artificially high. Japan lost its mojo and is yet to recover, forty years later.Tailpiece: The end of many eras?Balaji Srinivasan, formerly a Silicon Valley VC, a thought leader and a supporter of ‘Network States' and crypto, posted this intriguing tweet on March 17th. I don't necessarily agree with his framework of (US) ups and downs (see diagram) or his assertions: he surely paints a grim picture for the US, including de-dollarization. He openly wonders if the US itself will survive in its present form.The AI-generated podcast courtesy notebookLM.google.com is at 3000 words, 18 March 2026 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit rajeevsrinivasan.substack.com/subscribe

Send us a text and chime in!Silicon Valley–based venture capital firm NovaWave Capital has welcomed AZ Venture Capital Inc. and Sunny Day Sports as new investors in its latest fund, further strengthening the public-private capital supporting innovation across the United States. The announcement coincided with CES 2026®, where NovaWave, together with anchor investor LG Electronics, unveiled a collaboration with the Arizona Commerce Authority to launch WaveX, a new AI venture studio. WaveX will support startups and early-stage companies in healthcare, energy, sports, and media. NovaWave's initiative complements its existing hubs in West Virginia and Silicon Valley, along with its growing presence in the Gulf region, creating... For the written story, read here >> https://www.signalsaz.com/articles/silicon-valley-vc-brings-ai-growth-to-arizona-beyond/Check out the CAST11.com Website at: https://CAST11.com Follow the CAST11 Podcast Network on Facebook at: https://Facebook.com/CAST11AZFollow Cast11 Instagram at: https://www.instagram.com/cast11_podcast_network

Ep. 189 features the three co-founders of Golden Camel, Artie, Ben, and Ryan, for a lively deep dive into building a sports-betting lifestyle app rooted in community, fun, and authenticity. Hear them discuss: How a series of career pivots led them to partner up on Golden Camel a number of years after the original idea was sparked Why Golden Camel rejects “beat the house” culture, instead leaning into fun and community - while also still providing utility  Why they see brand as a differentiator within the betting tools category, and how they plan to leverage that to acquire users The state of U.S. betting culture in 2025, the rise of prediction markets, and why they feel they're in the right place at the right time with Golden Camel Their go-to-market strategy in Arizona, and why authentic content + in-person community building is their biggest growth engine Why they think that Silicon Valley VC's have largely been absent from the sports betting industry, and how they see that evolving   Catch the video version of this episode here.   Learn more

My guest today is Eva Yazhari – General Partner at Beyond Capital Ventures and one of the most original thinkers in the world of impact investing.Trained on Wall Street, Eva left finance to found Beyond Capital, turning her expertise toward building impact-driven markets. Beyond Capital Fund was structured as a nonprofit, a 501(c)3 – not to do charity, but to meet the moment. She describes it as “almost like a Trojan horse” – a structure that made her approach more acceptable to early supporters, even as she operated with full VC rigor.She knew in 2009 that most investors did not yet believe emerging markets could deliver both returns and impact. So she created a structure that was more palatable – donors could get a tax deduction, while she quietly ran the fund like a VC from day one. There were no grants. No concessionary capital. They always behaved like a VC.The result was a top‑quintile track record: a 0.3% loss ratio, markups, and over 100 million people reached through portfolio companies' products and services.But the nonprofit structure also kept the firm smaller than it needed to be. “I think it was the right thing to do, but I think it was a little bit of a mistake in the growth of the firm.”In 2019, someone approached her after a talk and simply asked, “How do we invest?” – and that was the moment she knew the market was finally ready.She and her team launched Beyond Capital Ventures, a for‑profit venture fund, carrying forward the same thesis with a structure that allowed investors to participate directly in the returns.Today, Beyond Capital Ventures invests in early-stage companies across East Africa and India. It's one of the few woman-led impact VC firms globally, with a team that's 70% based in the markets they invest in.Eva's approach is hands-on, thesis-driven, and unafraid to push boundaries. She refuses deal flow from Europe or the U.S. because she believes the best opportunities come from being on the ground. As she says, “I'd rather the principal who runs our Nairobi office meet a founder while filling up his water bottle, than us meet them through some other channel.”Beyond Capital has pioneered something radical in VC: the equitable venture structure. 10% of the GP's carry is allocated to portfolio founders. Not only does it create community – it's created collaboration. That motivates companies across her portfolio now to share customers, talent, and capital.She measures impact as rigorously as she measures financial performance. Her team uses a three-tier framework aligned with IRIS and SDG metrics. And she's clear-eyed about what success looks like. “Everybody is focused on sourcing better and investing better. Nobody is focused on adding value, and that is exactly where everything goes right or wrong.”Eva's career is proof that creativity, service, and capital don't have to be separate. And that you can build something that lasts if you're bold enough to hold them together.Listen in.—Connect with SRI360°:Sign up for the free weekly email updateVisit the SRI360° PODCASTVisit the SRI360° WEBSITEFollow SRI360° on XFollow SRI360° on FACEBOOK—Additional Resources:- Beyond Capital Ventures website- Eva Yazhari LinkedIn- Eva Yazhari Instagram- Book ‘The Good Your Money Can Do'- The BCV Podcast

In this episode of Founded & Funded, Madrona Venture Partner Patrick Ennis sits down with Varun Puri and Esha Joshi, co-founders of Yoodli, an AI-powered communications coach helping people become more confident speakers. Varun and Esha share their leap from Big Tech into startup life, eating noodles on secondhand couches while chasing a bold mission: making effective communication accessible to everyone. They dive into: The origin story behind Yoodli, (and where the name came from!) How AI roleplays bring “exposure therapy” to speaking practice. Use cases ranging from sales training to doctors having end-of-life conversations. The decision to build in Seattle vs. SF with support from Madrona and AI2. Co-founder dynamics, culture-first hiring, and why they turned down a famous Silicon Valley VC. This is a must-listen for any founder building with AI, thinking about culture-first scaling, or just wanting to speak with more confidence. Full Transcript: https://www.madrona.com/redefining-communication-yoodli-ai-roleplays Chapters: (00:00) – Introduction (02:00) – The “Why” Behind Yoodli (04:00) – Why AI & Why Now (06:00) – Who Uses Yoodli? (09:00) – Building a Category: AI Role Plays (10:00) – The Real Story Behind the Name “Yoodli” (13:00) – Early Team & Company Building (15:00) – Seattle vs. Silicon Valley (17:00) – Turning Down a Famous VC (19:00) – Co-Founders: The Power of Two (21:00) – Building Confidence as First-Time Founders (24:00) – Scaling the Team & Culture (26:00) – Seattle's Talent Pool & Startup Ecosystem (28:00) – Hiring Values (30:00) – Customer Feedback & Boundaries (31:30) – Lessons Learned as Founders (33:00) –  Serial Founders?

Season 4 of 3 Techies Banter is here, and we're finally putting faces to the voices you've been tolerating for three seasons – because nothing says "we've made it" like watching three people in their 50s gesture wildly at cameras while debating whether Web3 is dead or just hibernating. We might go delightfully off-script: the psychology of why developers have strong opinions about tabs vs spaces, how TikTok算法 accidentally created a new form of folk art, why Silicon Valley VCs are suddenly into longevity science and mushroom coffee, the game theory of group chats, whether your Spotify Wrapped says more about you than your therapy sessions, and why every tech bro suddenly thinks they're a philosopher after reading one Nassim Taleb book. With video, we might even unleash live demos that will either blow your mind or spectacularly crash on air, reaction cams for those "did they really just say that?" moments, and the occasional meme break because let's be honest - tech is too serious and we're definitely not. We are covering it all with the same chaotic energy that's kept you coming back, now with 100% more awkward eye contact. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week Amy is joined by Zoe Hewitt, VP of talent at legendary Silicon Valley VC firm Sequoia, where she helps its portfolio companies find and hire talent based in Europe.That makes her one of the continent's best informed people as to what is going on with tech talent today, in a world where startups and scaleups are ripping up the hiring rulebook, as AI changes the art of company building.Zoe knows where top talent wants to work, how to spot a future founder, what 'the office of the CEO' really means and which roles are most in-demand (and highly remunerated!)In this episode she unpacks why management layers are thinning, how the role of CEO is changing and gives her tips for founders and tech employees wondering how to future-proof themselves in a fast-changing world of work.

Eva Yazhari is the founder of Beyond Capital Ventures, who believes that the "high risk, high return" philosophy we all take for granted is actually a myth. She's taken her Wall Street hedge fund background and built a VC firm focused on emerging markets in India and East Africa - and believes her portfolio is actually less risky than Silicon Valley VC.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comBeyond Capital Ventures Website - https://www.beyondcapitalventures.com/Eva Yazhari on LinkedIn - https://www.linkedin.com/in/eva-yazhariWe talk about:- Eva's journey from Wall Street hedge funds to impact venture capital- Why "high risk, high return" is a myth in investing- Conscious leadership framework for evaluating founders- Investment criteria: post-revenue, local teams, stakeholder focus- Emerging markets opportunity in India and East Africa- Abundance mindset vs scarcity mindset in capitalism- Sharing carry with portfolio founders& lots moreTimestamps:(00:00) Introduction(02:24) Eva's background from Wall Street to impact investing(04:20) Challenges and learnings in transitioning to impact-focused venture capital(07:21) Discussing the myth of high-risk, high-return philosophy(10:05) Deal diligence process and investment criteria(12:42) Approach to evaluating exit potential for portfolio companies(16:12) Emerging markets opportunity in India and East Africa(19:17) Identifying founders aligned with conscious leadership values(22:10) Being a preferred investor and building strong founder relationships(25:10) Abundance mindset in investing(27:23) Sharing carry with founders(29:24) Interesting portfolio companies and their solutions(31:30) Biggest learning from investing in startups(34:09) Rapid fire round begins - discussing investment sectors and stagesFor sponsorship or guest appearance requests, write to prashantchoubey3@gmail.comSubscribe to VC10X on Youtube, Spotify, Apple Podcasts.

On Figma's first day trading on the NYSE, its stock soared over 250%, closing at $115.50 and giving the design software company a market cap near $68 billion. That's more than triple the $20 billion Adobe offered before regulators killed that deal in 2023. Silicon Valley is celebrating. The IPO raised $1.2 billion, mostly benefiting early investors like Sequoia, Greylock, Index Ventures, and Kleiner Perkins, whose combined stakes are now worth about $24 billion. It's a huge win for Silicon Valley VCs after a prolonged IPO drought that began in 2022.Featured Guests: Ben Narasin, founder and general partner, Tenacity VC | Jaya Gupta, partner, Foundation Capital

I sat down with Mark Straub, co-founder and CEO of SmileID, for an eye-opening conversation about his journey from Silicon Valley VC to building identity verification technology across Africa. Mark walked me through the unique challenges of operating in Africa's diverse markets and how digital infrastructure is driving economic development across the continent. What really struck me was his emphasis on localized strategies rather than one-size-fits-all approaches, and the massive growth potential he sees in these emerging markets. The conversation got personal when Mark opened up about his evolution as a leader - transitioning from venture capitalist to founder, learning the importance of empathy in management, and how team dynamics make or break scaling efforts. His honest reflections on founder mental health and sustaining long-term success while maintaining personal balance were particularly refreshing. We wrapped up discussing SmileID's latest innovations in biometric authentication and their focus on building user trust in digital transactions. Mark's insights revealed both the practical realities of building tech in Africa and the transformative potential of what they're creating. Host: Jake Aaron Villarreal, leads the top AI Recruitment Firm in Silicon Valley www.matchrelevant.com, uncovering stories of funded startups and goes behinds to scenes to tell their founders journey.  If you are growing AI Startup or have a great storytelling, email us at: jake.villarreal@matchrelevant.com

The second quarter of 2025 delivered some incredible conversations on the Sales Gravy podcast. From discipline strategies that separate winners from wannabes to the psychology of selling that most reps completely miss, here are the five most powerful insights that can transform your sales results immediately. 1. Focus on Activity, Not Outcomes The Problem: Most sales reps get discouraged when they don't book meetings, causing them to change their approach daily. The Solution: Cynthia Handal, who runs high-performing BDR teams, revealed her game-changing mindset shift: "The outcome isn't to book a meeting. The outcome is to do the three hours of work." Her approach is deceptively simple but incredibly powerful: Time block your prospecting activities (she does 9 AM to 12 PM daily). Set a timer and don't stop until the time is complete. Focus on controlling what you can control—the work itself. Trust that results will follow consistent activity. This eliminates the emotional rollercoaster of good days and bad days. When you focus on process over outcomes, you build the discipline that creates sustainable success. 2. Get a ‘No' Then Aim for a ‘Yes' The Problem: Most salespeople chase prospects desperately, making them less attractive. The Solution: Mike Maples Jr., a Silicon Valley VC and former software entrepreneur, uses a counterintuitive approach to actively trying to disqualify prospects. The "go for the no" technique works like this: Start conversations by suggesting you might not be the right fit Use body language that shows you're willing to walk away Make prospects convince you they need your solution Qualify out aggressively those who don't value your advantage This approach leverages the psychological principle that people want what they can't have. When you're not desperate, you become magnetic.  3. Align Your Entire Organization's Message The Problem: Five sales reps with five different value propositions confuse customers and create internal friction. They need to be unified. The Solution: Lisa Dennis discusses that messaging alignment must extend beyond just the sales team to the entire organization. Her process includes: Involving the whole company in messaging rollouts, not just sales Ensuring customer success and support teams understand the same value propositions Providing discovery questions and conversation frameworks to salespeople Creating organizational congruence from marketing through delivery When everyone in your organization tells the same story, customers experience consistency at every touchpoint. This builds trust and reduces friction throughout the customer journey. 4. Trust Commands a 30% Premium The Problem: Salespeople focus on features and benefits while underestimating the value of trust. The Solution: Yoram Solomon's research that people will pay an average of 29.6% more to buy from someone they trust versus someone they don't know (not someone they distrust—just someone neutral). The trust-building behaviors that matter most: Listening instead of pitching Showing genuine care for the customer's situation Being attentive and present during conversations Making and keeping promises consistently Trust is worth dollars. 5. Get Your Math Right The Problem: Most businesses stay stuck in six figures because they're fundamentally undercharging for their service. The Solution: David Neagle, who has helped countless entrepreneurs break through seven figures, says the issue is usually mathematical, not motivational. His tips for confidently pricing right: Stop comparing yourself to the average—compare to the top performers Charge based on results delivered, not time spent Ask yourself: "If they get the same result, why can't I charge the same price?" Actually ask for the sale at your true value As David puts it: "It's hard to do $50,000 a month if you're selling your service for $1,000 a pop." You can't hustle your way to seven figures if you're selling dollars for fifty cents. The Bottom Line These insights are practical strategies being used by top performers right now. The difference between successful salespeople and everyone else isn't talent or luck. It's implementing systems that work consistently. Pick one of these strategies and commit to implementing it this week. Maybe it's time-blocking your prospecting like Cynthia, practicing the takeaway technique like Mike, or finally having that pricing conversation like David suggests. Remember: people pay more for trust, and the harder you work, the luckier you get. When you're tired and ready to go home, make one more call. For more spot-on sales insights, listen to the Sales Gravy Podcast, Ask Jeb, and Money Monday, every week on SalesGravy.com.

The second quarter of 2025 delivered some incredible conversations on the Sales Gravy podcast. From discipline strategies that separate winners from wannabes to the psychology of selling that most reps completely miss, here are the five most powerful insights that can transform your sales results immediately. 1. Focus on Activity, Not Outcomes The Problem: Most sales reps get discouraged when they don't book meetings, causing them to change their approach daily. The Solution: Cynthia Handal, who runs high-performing BDR teams, revealed her game-changing mindset shift: "The outcome isn't to book a meeting. The outcome is to do the three hours of work." Her approach is deceptively simple but incredibly powerful: Time block your prospecting activities (she does 9 AM to 12 PM daily). Set a timer and don't stop until the time is complete. Focus on controlling what you can control—the work itself. Trust that results will follow consistent activity. This eliminates the emotional rollercoaster of good days and bad days. When you focus on process over outcomes, you build the discipline that creates sustainable success. 2. Get a ‘No' Then Aim for a ‘Yes' The Problem: Most salespeople chase prospects desperately, making them less attractive. The Solution: Mike Maples Jr., a Silicon Valley VC and former software entrepreneur, uses a counterintuitive approach to actively trying to disqualify prospects. The "go for the no" technique works like this: Start conversations by suggesting you might not be the right fit Use body language that shows you're willing to walk away Make prospects convince you they need your solution Qualify out aggressively those who don't value your advantage This approach leverages the psychological principle that people want what they can't have. When you're not desperate, you become magnetic.  3. Align Your Entire Organization's Message The Problem: Five sales reps with five different value propositions confuse customers and create internal friction. They need to be unified. The Solution: Lisa Dennis discusses that messaging alignment must extend beyond just the sales team to the entire organization. Her process includes: Involving the whole company in messaging rollouts, not just sales Ensuring customer success and support teams understand the same value propositions Providing discovery questions and conversation frameworks to salespeople Creating organizational congruence from marketing through delivery When everyone in your organization tells the same story, customers experience consistency at every touchpoint. This builds trust and reduces friction throughout the customer journey. 4. Trust Commands a 30% Premium The Problem: Salespeople focus on features and benefits while underestimating the value of trust. The Solution: Yoram Solomon's research that people will pay an average of 29.6% more to buy from someone they trust versus someone they don't know (not someone they distrust—just someone neutral). The trust-building behaviors that matter most: Listening instead of pitching Showing genuine care for the customer's situation Being attentive and present during conversations Making and keeping promises consistently Trust is worth dollars. 5. Get Your Math Right The Problem: Most businesses stay stuck in six figures because they're fundamentally undercharging for their service. The Solution: David Neagle, who has helped countless entrepreneurs break through seven figures, says the issue is usually mathematical, not motivational. His tips for confidently pricing right: Stop comparing yourself to the average—compare to the top performers Charge based on results delivered, not time spent Ask yourself: "If they get the same result, why can't I charge the same price?" Actually ask for the sale at your true value As David puts it: "It's hard to do $50,

Real estate is everything in Los Angeles. Karen Bass's absence from the city when the fires broke out, and now her seeming aloofness, has instantly made her look unfit for the job of mayor. Even Gavin Newsom is distancing himself from Bass. Meanwhile, while we wait on the facts behind the fires, all the Silicon Valley VC guys and Elon need to shut the f*** up. Plus, Mike Johnson is a disgrace, Zuck has no inner core of values, and TikTok Zoomers need to get a better understanding of free speech and fascism. Venice resident Peter Hamby joins Tim Miller. show notes Mayor Bass ignoring a reporter's questions Peter's Puck piece on Karen Bass "Ecology of Fear" by Mike Davis Tim's interview with reporter Liz Weil on wildfires Zuck being awkward at the UFC fight Peter referenced

Jeremy Au discussed the nuanced challenges faced by venture capitalists in assessing startups, emphasizing the importance of local expertise and first-principles thinking. For example, he shared how his understanding of Singaporean founders—gained through years of personal interactions—provided him with an edge over Silicon Valley VCs. He highlighted the risks of fraud in Southeast Asia, citing cases like Zilingo and comparing them to global examples such as Theranos and FTX, which underscore the need for robust due diligence. He explained how VCs use strategies like hiring fraud analysts or leveraging local networks to address these risks. Drawing parallels to the 19th-century whaling industry, Jeremy illustrated how power law dynamics dominate VC returns, with only about 6% of investments producing 60% of total returns, as seen in analysis from Horsley Bridge. This perspective frames VCs as high-performance scouts navigating a market where a single unicorn, like Grab or Gojek, can make or break a fund's success. Watch, listen or read the full insight at https://www.bravesea.com/blog/vc-edge-vs-fraud Get transcripts, startup resources & community discussions at www.bravesea.com WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea English: Spotify | YouTube | Apple Podcasts Bahasa Indonesia: Spotify | YouTube | Apple Podcasts Chinese: Spotify | YouTube | Apple Podcasts Vietnamese: Spotify | YouTube | Apple Podcasts

If there was one phrase that captured the vibe and theme of 2024 — at least in the transportation sector — it was business whiplash. Legacy automakers changed direction on their all-EVs-or-bust strategy, startups pivoted, and some Silicon Valley VCs and executives adjusted their views to a changing political landscape Learn more about your ad choices. Visit podcastchoices.com/adchoices

The podcast begins with Tu and Lei briefly discussing the XPeng's AI Day where XPeng unveiled a few different strategic initiatives including the development of a robotaxi and the design of its own silicon to help run it. The biggest news from XPeng was that they are entering the EREV space. The conversation then moves over to Audi's brand launch in China and Tu and Lei's differing views of the 'why' and how successful they ultimately feel it will be. Tu points out that it won't be in production until mid-2025. Tu and Lei spend the rest of the podcast discussing the implications of another Trump presidency, one influenced by Elon Musk and the other Silicon Valley VCs that backed his candidacy. Tu emphasizes that this runs much deeper than giving Tesla the advantage in the US and points to all the AI and space exploration investments that have been made by the tech bros. 

Join D.O. as he sits down with Lower CEO Dan Snyder to uncover his journey from Wells Fargo rookie to raising $100M+ from Silicon Valley VCs. Get the inside scoop on building a mortgage empire, navigating market cycles, and creating the mortgage company of the 2030s!

Silicon Valley VC and Entrepreneur Shares Insights on NFTs and Crypto Tether.to Wax.io Clearstone.com About the Guest(s): William Quigley is a veteran venture capitalist and serial entrepreneur with over 25 years of experience in the tech and innovation industry. He was the first institutional investor in PayPal and has founded successful ventures like Tether, the world's first fiat-backed stablecoin, and WAX, a leading blockchain platform. With an impressive background in VC and entrepreneurship, William has made significant contributions to the tech and crypto space. Episode Summary: Welcome to The Chris Voss Show, where host Chris Voss interviews William Quigley, a seasoned VC and entrepreneur, about his ventures in Silicon Valley, including Tether and WAX. The discussion delves into venture capital investing, entrepreneurship, emerging markets, AI, cryptocurrency, and blockchain. Discover key insights into the evolution of digital assets and the future landscape of technology. William Quigley, a pioneer in the crypto space, shares his journey from founding Tether to launching WAX and explores the transformative potential of blockchain technology. Gain valuable perspectives on the importance of understanding blockchain, the significance of NFTs, and the challenges and opportunities in AI. Dive into the intersection of tech, entrepreneurship, and innovation with a tech visionary. Key Takeaways: William Quigley emphasizes the revolutionary impact of Tether, the world's first stablecoin, on the cryptocurrency market. The emergence of NFTs represents more than collectibles, offering a unique way to authenticate and transfer digital assets securely. The future of AI holds immense potential but requires deep understanding and strategic investments to unlock transformative applications. Building a successful venture in the tech industry demands insight, innovation, and a relentless pursuit of novel business models. The intersection of blockchain, AI, and emerging technologies presents a vast landscape for entrepreneurial opportunities and technological advancements. Notable Quotes: "Without Tether, crypto barely exists. It is the backbone of the global cryptocurrency market." "NFTs represent a revolutionary concept, allowing for the authentication and transfer of digital assets with unparalleled security." "Insight is the rarest element in the universe and comes from being deeply immersed in a subject, leading to transformative innovations." "In a complex economy, specialization and niche markets drive entrepreneurship, offering unique value propositions to consumers." "The future of technology lies at the intersection of blockchain, AI, and emerging innovations, paving the way for digital transformation."

Welcome to another episode of Funding the Future. In today's episode, we're speaking with Clancey Stahr, Managing Partner at GoAhead Ventures, a venture capital firm that has raised $180 Million in funding. Here are the most interesting points from our conversation: Founding Journey: Clancey founded GoAhead Ventures in 2015, starting with initial legwork in 2013 while still a student at Stanford. He collaborated with his co-founders to connect Japanese corporations with US startups, eventually pivoting to venture capital. Early Fundraising: The first fund was raised in 2014, totaling $6 million from a partner in Japan and three US angels. The focus was on the team's potential rather than a specific idea, leveraging the Stanford network. Investment Thesis Evolution: Initially emulating top Silicon Valley VCs, the firm evolved its thesis in 2020 with a focus on video submissions for founder pitches. This streamlined the evaluation process, making it easier to compare founders and identify the best investments. Video Submissions: GoAhead Ventures receives 60-80 video submissions per week, reviewing over 3,000 annually. The submission process includes a brief introduction and a three-minute elevator pitch, with a one-in-ten chance of leading to a first meeting. Decision-Making Speed: The firm has honed its decision-making process, providing founders with a yes or no within three days of video submission and offering a signable agreement within 24 hours of a live pitch. Focus on Fundraising: GoAhead Ventures prioritizes helping portfolio companies raise additional capital, recognizing that every company needs money and that this is an area where they can add significant value. //   Sponsors: Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership. www.FrontLines.io The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe.  www.GlobalTalent.co

Send us a Text Message.Weekly pre-IPO reports…- Valuations, revenue multiples, performance = www.agdillon.com/reports- Market update pdf = www.agdillon.com/update- Index fact sheet = www.agdillon.com/index00:07 | Stripe's $70b valuation- Online payments company- Sequoia inter-fund transaction- $27.51/share at $70b valuation, +7.7% vs its last round- Sequoia LPs get liquidity, realized returns- Emerging tech is staying private for longer- Growth companies are private not public, time to allocate to pre-IPO stocks01:41 | Revolut $40b valuation- UK online bank- Tiger Global to lead $40b round- $2.2b 2023 revenue, 2x vs 2022- $574m 2023 pretax profit vs -$33m in 2022- 18.1x revenue multiple- $25b secondary market valuation, +60% overnight return!02:25 | Anthropic, Menlo launch fund- Anthropic is AI large language model biz, Menlo is premier Silicon Valley VC firm- $100m fund to invest into AI startups- Menlo makes investment- Anthropic provides AI LLM credits- Anthropic = $22b secondary market valuation, +20% vs Jan 2024 round03:22 | $267m for Human Interest- 401k focused fintech- 3 minutes to open 401k account- 25,000 small business customers- $100m in ARR- 70% projected 2024 sales growth- IPO planned within two years04:03 | Tekion $4b valuation- Automotive technology business- $200m investment from Dragoneer- Founder is former Tesla CIO, jay Vijayan- 2025 to be 1st profitable year- Other investors = Index Ventures, BMW i Ventures, Advent International04:53 | Starlink approved in South Sudan- SpaceX's satellite internet business- Only 36% of South Sudan citizens connected to internet- SpaceX seeks official distributor in South Sudan- $210b valuation based on current tender offer in process05:44 | OpenAI GPT-4o Mini launched- AI large language model business- 4o Mini is 60% cheaper vs 4o proper- 4o Mini is replacing GPT-3.5 Turbo- Businesses like smaller models as they get job done but at lower expense- Lower expense improves ROIs- Watch for big earnings pop and acquisitions from businesses that implement AI07:32 | Pre-IPO Stock Market Weekly Performance- www.agdillon.com/reports for full pdf- Pre-IPO +0.19% for week, +65.28% for last 1yr- Up week: Revolut +8.0%, Chime +5.5%, Deel 4.4%, Ramp +3.4%, SpaceX 3.2%- Down week: Cohere -11.2%, Epic Games -3.2%, Anduril -2.8%, Neuralink -2.4%, eToro -2.3%- Top valuations: ByteDance $290b, SpaceX $205b, OpenAI $106b, Stripe $70b, Databricks $44b08:23 | Pre-IPO Stock Vintage Index Weekly Performance- www.agdillon.com/index for pdf with constituent level performance by year- 2024 Vintage Index top contributors since inception: Rippling +107%, Revolut +68%, Anduril +51%, Klarna +46%, Epic Games +32%- Key metric averages for all Vintage Indexes 5 years old or older…445% cumulative return since inception61% realized, distributed to investors5.45 TVPI; 3.31 DPI, 2.14 RVPI4.1 years to return the fund

Rob Coneybeer co-founded Shasta Ventures in Silicon Valley in 2004. They invested in companies like Nest and Dollar Shave Club, have over $1B of funds under management and, unusually for US VC, have a deep and active interest in Aotearoa. We cover his journey into venture capital, how he got connected to NZ, how he's creating more links between NZ and the US and what it takes to spot the next big thing. Learn more about your ad choices. Visit megaphone.fm/adchoices

Bitcoin could potentially exceed $500,000 per BTC by October 2025, based on the historical price patterns of Bitcoin cycles 2 and 3 according to billionaire Silicon Valley VC Chamath Palihapitiya. Learn more about your ad choices. Visit megaphone.fm/adchoices

Protect yourself from the perils of modern technology with high-quality faraday products designed and developed by yours truly by going to RONINBASICS.com today. Welcome to The Adam's Archive, where curiosity meets deep discussion. Austin Adams is the host of this podcast, which dissects the myths, ideas, and realities that have shaped our world. From historical insights to futuristic forecasts, each episode invites you to question what you know and discover what you don't. In this episode, I interview Bryanna Robinson, a dynamic social and political commentator with a sharp intellect and a passion for uncovering hidden truths. In this episode, we dive into the mysterious world of ancient technologies lost to time, challenge the official narratives from NASA, and discuss the profound implications of the decline in human consciousness.  Join us as we unravel the complex web of history and science, offering listeners a unique perspective on how our understanding of technology and consciousness shapes our reality. Summary of Topics Innovative Thinkers: Dive into the minds that have shaped our technological landscape. From Tesla's forgotten inventions to the ethical dilemmas posed by AI, we explore how genius shapes our world. Art and Culture: Witness the transformation of art and culture through technology. Discuss the decline of traditional art forms and the rise of digital media, questioning what these changes mean for future generations. Conspiracy Theories: From moon landing skepticism to the secretive societies like the Freemasons, unravel the threads of doubt and secrecy that suggest a different narrative of history. Societal Changes: Examine how shifts like remote work and urban decay influence societal structures and what it means for communal living in the future. Technology and Privacy: Delve into the dark side of tech advancements, including the loss of privacy and the ethical challenges posed by emerging technologies. If you're intrigued by the unknown and passionate about uncovering the deeper truths of our era, subscribe to Adam's Archive on platforms like YouTube, Substack, and your favorite social media channels. Your engagement fuels our journey into the mysteries and marvels of our world. Thank you for your support and curiosity! All the links: https://linktr.ee/theaustinjadams.   ----more---- Full Transcription Hello, you beautiful people and welcome to the Adams archive. My name is Austin Adams, and thank you so much for listening today on today's episode. I have a discussion with Brianna Robinson. Now, Brianna is a social and political commentator, just like myself. And she has tons of great contents, tons of great insight into plenty of different topics, including the moon landing government operations and conspiracies, historical events, really great. Really interesting stuff. So Brianna and I have a great conversation today. We jump into a ton of different topics, everything from the lost technology of Nikola Tesla and, and the utilization of modern energy and, and the death of language, the death of art, we talk about, uh, the, the moon landing and she gives some great, great insight and points into, and we have a discussion about the Freemasons, the Rosicrucians, which was a cult essentially within the Freemasons that was founded by Sir Francis Bacon. And Sir Francis Bacon has a ton of deep dive rabbit holes that you can go into very, very interesting that we talk about every single one of those things and more today. So make sure you stick around to the end and. Go give her, Brianna, a follow. You can find her on Instagram at Brianna, B R Y A N N A, B R Y A N N A, xRobinson, R O B I N S O N. So go give her a follow. I hope you enjoyed the discussion as much as I did. It was an absolutely great conversation. And, without further ado, well, wanna do, Which is that leave a five star review, subscribe, and here's what I would ask of you. Something that you may not know about podcasts is the really the only way social media, no matter how many millions of views my content gets, very, very little moves the needle when it comes to podcast viewership. So what I would ask of you is if you enjoy this conversation today, send it to somebody, you know, tell them, Hey, did you know this about Sir Francis Bacon? It's crazy. Have you ever heard about the, the. Van Allen radiation belt. Have you just send it out to a couple of people and share the conversation because it was a great one. It was an absolutely phenomenal conversation. And I know you, and I know a bunch of people that, you know, we'll enjoy it as well. So please, please, if you enjoy the conversation, share it with some family, share it with some friends, talk about it with your coworkers and give them the link. All right. Now subscribe, leave a five star review and let's jump right in. Into it. The Atoms Archive  I was sitting in an hour of traffic.

Welcome back to the Alt Goes Mainstream podcast.Today's episode features an enabler of the micro VC movement who has now scaled his business into one of the industry's larger fund administrators. Braughm Ricke is the Founder and CEO of Aduro Advisors, a leading fund administrator that has carved out a sterling reputation in the VC world.He's grown the business to over $114B+ AUA and over 450+ customers, that counts many of the leading VC funds, including Lowercarbon, Cowboy Ventures, Ahoy Capital, Craft, Haystack, Boost VC, and others, as customers. They've also managed to combine a high-quality service with innovative technology and a partnership strategy that has enabled them to differentiate from other fund admins.Prior to founding Aduro, Braughm was the founding CFO of True Ventures, a leading Silicon Valley VC fund. Braughm is incredibly knowledgeable about the private markets space more generally and is also an active investor in the private markets startup ecosystem, investing early in the likes of Carta, Allocate, Passthrough, Arch, and others.Braughm and I had a fascinating conversation about the evolution of fund administration. We discussed:Why Braughm started with emerging managers and the unmet need he saw to serve them.Why he believed the emerging manager landscape would grow.How he's moved upstream beyond venture capital clients.How fund admin can integrate technology.Will AI change fund administration?Advice Braughm would give to founders building in private markets.Thanks Braughm for coming on the Alt Goes Mainstream podcast to share your wisdom on building a core infrastructure provider for private markets.

In this episode Karen and her guest Tim Sprinkle, an experienced journalist turned venture capital marketing expert, dive deep into the dynamic world of venture capital and angel investing. Listen or Watch as they explore everything from the importance of due diligence and active involvement in startups to the evolving strategies of venture funds and the rising trend of niche markets.  Tim provides valuable insights on building trust with investors, leveraging digital marketing, and the transformative role of the JOBS Act in democratizing venture capital. We also discuss the impact of generative AI on content marketing and the crucial role of custom approaches in attracting investments. Whether you're an early-stage entrepreneur or a seasoned investor, this episode offers a wealth of knowledge on navigating the complex landscape of venture capital and achieving successful investments. So, sit back and get ready to learn from the best in the business as we unravel the intricacies of venture capital with Tim Sprinkle. Key Takeaways in this episode:  1. Venture Capital Evolution - Growth of Venture Capital and the expansion from mega firms to over 4,200 venture funds globally - Emergence of Boutique Funds with rise in serial entrepreneurs founding funds outside traditional hubs - Educational Programs contributing to the growth with training programs like Columbia University's VC course - Highlighting developments outside Silicon Valley - VC need to market themselves and to increase Assets Under Management (AUM) - From informal to more structured and formalized - Competing by focusing on niche areas - Fundraising Challenges and the need for credibility and strong track record in order to build investor trust - Challenges for a new fund raising capital is similar to starting a company - Effect of JOBS Act and democratizing access with crowdfunding models 2. Niche Venture Capital Firms - Examples like water tech and climate tech firms   - Water industry-originated fund expanding to early-stage tech   - Climate tech fund focusing on large-scale infrastructure - Industry-specific challenges and solutions -Information Accessibility and Resources   - National Venture Capital Association, Google, Crunchbase, PitchBook   - Micro Ventures for accredited investors - Challenges for Smaller Funds to gaining recognition   - Standing out in a crowded market so turning to traditional marketing strategies used by business attracting customers (investors)  3. Traditional Venture Capital Model - Investment Expectations of Company's milestones - 1 in 10 investments yielding significant returns - Investment as Art vs. Science as a combination of data analytics, AI, and investor intuition - Boutique VC Firms vs. Traditional Venture Funds - Role of Boutique Firms   - Active involvement in early stages like Series A - Traditional Funds  - Engagement at later stages, such as Series B - Distinguishing from other investment types such as angel funds 4. Venture vs. Angel Funds - Structural Differences   - Venture funds' structured mandates and timelines  - Stages of Investment   - Typical pipeline: friends and family, angel investors, venture capital, private equity   - Reliance on networks and proving success - Leveraging passionate individuals and potential investors - Differences in risk and investment profiles - Importance of Due Diligence   - VC firms' strategic support and market validation   - Angels' more diverse and informal approach but usually more involved  - Active role in helping companies succeed beyond monetary investment - Both Groups of Investors tend to contribute by making introductions, assisting with hiring - Venture Fund Structure and comparison to Mutual Funds - Family Offices Trend and investing private companies   - Younger generations driving investment in venture financing   - Growing interest in mission-driven investments 5. Tools for Engagement - CRMs, email systems, webinars, calendar planning - Strategies may include email campaigns, direct mail, social media, live events PR, Social Media, SEO Engagement - Resurgence of Webinars and Live Events - Figure out your Investor Avatar in order to target specific investor types - Marketing and Content Strategies  - Testing different messages continuously   - Managing communications and targeting - Building Trust by Selling a compelling brand or story  Bio: Tim Sprinkle is a seasoned finance writer with a particular focus on the innovation space. During a formative period from 2013 to 2015, Tim was immersed in the vibrant entrepreneurial ecosystem of Colorado, notably in Boulder. He documented the rise of various startups and innovations, emphasizing the significant activities in the venture capital sector. His experiences inspired him to write a groundbreaking book, "Screw the Valley," which challenged the then-prevalent notion that Silicon Valley was the epicenter of innovation. Through his insightful writing, Tim highlighted the burgeoning innovation occurring outside of Silicon Valley, showcasing that the entrepreneurial spirit was thriving in diverse regions across the country and the world. To connect with Tim Sprinkle visit  website: http://venturecapitalmarketing.com And be sure to pick up your copy of: "Screw the Valley" Karen Rands is the President of Kugarand Capital Holdings where her extended team offers coaching and services to small business owners providing capital strategy and investor acquisition through the Launch Funding Network.  As a thought leader in Angel and Crowdfund Investing, Karen offers investors decision tools, education, screening, due diligence, and syndication services through the National Network of Angel Investors.   Karen wrote the best selling primer for new Angel Investors  - Inside Secrets to Angel Investing and now offers digital beginner and advanced courses covering  Angel and Crowdfunding Investing on the Compassionate Capitalist Academy financial education platform. More information can be found at http://karenrands.co   When you subscribe on the contact page you will receive her Compassionate Capitalist short video tips by email, her ebook 12 Secrets of Innovation and Wealth and have an opportunity to schedule time to chat with Karen directly. Please help us build the Compassionate Capitalist community by subscribing, liking, and sharing this podcast.    The Compassionate Capitalist Show is also on Youtube @angelinvesting with a library of over 280 episodes.  Keywords: due diligence, investor diversification, venture firm strategic shift, broader market potential, investor avatar, targeted investor pitches, early-stage investment, building investor trust, crowdfunding impact, generative AI in content marketing, digital marketing strategies, traditional PR, social media strategy, marketing automation tools, storytelling for investors, VC fund competition, niche venture capital firms, family offices, mission-driven investments, venture capital training, boutique venture funds, climate tech investment, water tech fund, fundraising challenges, investment stages, angel investing vs venture capital, specialized micro funds, investor engagement tools, CRM systems, email campaigns, live events for investors

(0:00) Intro.(2:27) About the podcast sponsor: The American College of Governance Counsel.(3:13) Start of interview. [Interviewer: UC Law SF Professor Abe Cable. Reference to his article "Does Trados Matter?" (2019)].(4:17) Summary of the Trados case by Vice-Chancellor Laster. (9:44) Concept of "residual value maximization." Distinguishing between standard of conduct and standard of review.(16:17) Explaining standards of review: 1) Business judgment rule, 2) Enhanced scrutiny and 3) Entire fairness standard. The impact of conflicted transactions.(23:55) Distinguishing governance standards from public companies and Silicon Valley-style private startups. (28:10) Social factors or dynamics that make Silicon Valley VC-backed startups a relatively lower risk environment for litigation.(31:07) Why directors should always try to maximize the value of the corporation for the residual. Emotional commitment and engagement in many cases.(33:31) "What made Trados a difficult case and a litigable case was that this really was a sideways situation where the value was in the vicinity of an area where the common could take."(36:36) How to think about maximizing the residual value. *reference to Credit Lyonnais opinion by Chancellor Allen (1991).(39:04)  Other trends or cases that present some litigation risk for startup corporate directors. "I don't know if there's anything super new. What we tend to see is sort of old problems recurring because these are really problems of human nature. And so things are cyclical."Redemption Rights. Example of cases: Thoughtworks (2010), ODN Holdings (2017)280G [and 409A] Valuations. "I would really like to see people treating [those valuations] as a more substantive exercise than merely as an exercise in marketing to your employees (for employees' morale)."(45:54) The importance of outside or independent directors. "I really think that somebody has to be in the room asking the proverbial dumb question, which usually isn't a dumb question. Usually it's the question that needs to be asked."The Honorable J. Travis Laster was sworn in as Vice Chancellor of the Court of Chancery on October 9, 2009. Professor Abe Cable joined the UC Law SF faculty in 2011. He is the Faculty Director of the UC Center for Business Law San Francisco. You can follow Evan on social media at:Twitter: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__You can join as a Patron of the Boardroom Governance Podcast at:Patreon: patreon.com/BoardroomGovernancePod__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

We begin this episode with Paul Rosenzweig describing major progress in teaching AI models to do text-to-speech conversions. Amazon flagged its new model as having “emergent” capabilities in handling what had been serious problems – things like speaking with emotion, or conveying foreign phrases. The key is the size of the training set, but Amazon was able to spot the point at which more data led to unexpected skills. This leads Paul and me to speculate that training AI models to perform certain tasks eventually leads the model to learn “generalization” of its skills. If so, the more we train AI on a variety of tasks – chat, text to speech, text to video, and the like – the better AI will get at learning new tasks, as generalization becomes part of its core skill set. It's lawyers holding forth on the frontiers of technology, so take it with a grain of salt. Cristin Flynn Goodwin and Paul Stephan join Paul Rosenzweig to provide an update on Volt Typhoon, the Chinese APT that is littering Western networks with the equivalent of logical land mines. Actually, it's not so much an update on Volt Typhoon, which seems to be aggressively pursuing its strategy, as on the hyperventilating Western reaction to Volt Typhoon. There's no doubt that China is playing with fire, and that the United States and other cyber powers should be liberally sowing similar weapons in Chinese networks. But the public measures adopted by the West do not seem likely to effectively defeat or deter China's strategy.  The group is less impressed by the New York Times' claim that China is pursuing a dangerous electoral influence campaign on U.S. social media platforms. The Russians do it better, Paul Stephan says, and even they don't do it well, I argue.  Paul Rosenzweig reviews the House China Committee report alleging a link between U.S. venture capital firms and Chinese human rights abuses. We agree that Silicon Valley VCs have paid too little attention to how their investments could undermine the system on which their billions rest, a state of affairs not likely to last much longer.  Paul Stephan and Cristin bring us up to date on U.S. efforts to disrupt Chinese and Russian hacking operations. We will be eagerly waiting for resolution of the European fight over Facebook's subscription fee and the move by websites to “Pay or Consent” privacy terms fight. I predict that Eurocrats' hypocrisy will be tested by an effort to rule for elite European media sites, which already embrace “Pay or Consent” while ruling against Facebook. Paul Rosenzweig is confident that European hypocrisy is up to the task.  Cristin and I explore the latest White House enthusiasm for software security liability. Paul Stephan explains the flap over a UN cybercrime treaty, which is and should be stalled in Turtle Bay for the next decade or more.   Cristin also covers a detailed new Google TAG report on commercial spyware.  And in quick hits,  House Republicans tried and failed to find common ground on renewal of FISA Section 702 I recommend Goody-2, the ‘World's ‘Most Responsible' AI Chatbot Dechert has settled a wealthy businessman's lawsuit claiming that the law firm hacked his computer Imran Khan is using AI to make impressively realistic speeches about his performance in Pakistani elections The Kids Online Safety Act secured sixty votes in the U.S. Senate, but whether the House will act on the bill remains to be seen Download 492nd Episode (mp3) You can subscribe to The Cyberlaw Podcast using iTunes, Google Play, Spotify, Pocket Casts, or our RSS feed. As always, The Cyberlaw Podcast is open to feedback. Be sure to engage with @stewartbaker on Twitter. Send your questions, comments, and suggestions for topics or interviewees to CyberlawPodcast@gmail.com. Remember: If your suggested guest appears on the show, we will send you a highly coveted Cyberlaw Podcast mug! The views expressed in this podcast are those of the speakers and do not reflect the opinions of their institutions, clients, friends, families, or pets.

We begin this episode with Paul Rosenzweig describing major progress in teaching AI models to do text-to-speech conversions. Amazon flagged its new model as having “emergent” capabilities in handling what had been serious problems – things like speaking with emotion, or conveying foreign phrases. The key is the size of the training set, but Amazon was able to spot the point at which more data led to unexpected skills. This leads Paul and me to speculate that training AI models to perform certain tasks eventually leads the model to learn “generalization” of its skills. If so, the more we train AI on a variety of tasks – chat, text to speech, text to video, and the like – the better AI will get at learning new tasks, as generalization becomes part of its core skill set. It's lawyers holding forth on the frontiers of technology, so take it with a grain of salt. Cristin Flynn Goodwin and Paul Stephan join Paul Rosenzweig to provide an update on Volt Typhoon, the Chinese APT that is littering Western networks with the equivalent of logical land mines. Actually, it's not so much an update on Volt Typhoon, which seems to be aggressively pursuing its strategy, as on the hyperventilating Western reaction to Volt Typhoon. There's no doubt that China is playing with fire, and that the United States and other cyber powers should be liberally sowing similar weapons in Chinese networks. But the public measures adopted by the West do not seem likely to effectively defeat or deter China's strategy.  The group is less impressed by the New York Times' claim that China is pursuing a dangerous electoral influence campaign on U.S. social media platforms. The Russians do it better, Paul Stephan says, and even they don't do it well, I argue.  Paul Rosenzweig reviews the House China Committee report alleging a link between U.S. venture capital firms and Chinese human rights abuses. We agree that Silicon Valley VCs have paid too little attention to how their investments could undermine the system on which their billions rest, a state of affairs not likely to last much longer.  Paul Stephan and Cristin bring us up to date on U.S. efforts to disrupt Chinese and Russian hacking operations. We will be eagerly waiting for resolution of the European fight over Facebook's subscription fee and the move by websites to “Pay or Consent” privacy terms fight. I predict that Eurocrats' hypocrisy will be tested by an effort to rule for elite European media sites, which already embrace “Pay or Consent” while ruling against Facebook. Paul Rosenzweig is confident that European hypocrisy is up to the task.  Cristin and I explore the latest White House enthusiasm for software security liability. Paul Stephan explains the flap over a UN cybercrime treaty, which is and should be stalled in Turtle Bay for the next decade or more.   Cristin also covers a detailed new Google TAG report on commercial spyware.  And in quick hits,  House Republicans tried and failed to find common ground on renewal of FISA Section 702 I recommend Goody-2, the ‘World's ‘Most Responsible' AI Chatbot Dechert has settled a wealthy businessman's lawsuit claiming that the law firm hacked his computer Imran Khan is using AI to make impressively realistic speeches about his performance in Pakistani elections The Kids Online Safety Act secured sixty votes in the U.S. Senate, but whether the House will act on the bill remains to be seen Download 492nd Episode (mp3) You can subscribe to The Cyberlaw Podcast using iTunes, Google Play, Spotify, Pocket Casts, or our RSS feed. As always, The Cyberlaw Podcast is open to feedback. Be sure to engage with @stewartbaker on Twitter. Send your questions, comments, and suggestions for topics or interviewees to CyberlawPodcast@gmail.com. Remember: If your suggested guest appears on the show, we will send you a highly coveted Cyberlaw Podcast mug! The views expressed in this podcast are those of the speakers and do not reflect the opinions of their institutions, clients, friends, families, or pets.

00:09 | Circle (USDC) to IPO- Circle offers the USDC stablecoin with a $25b market cap- company was to go public via SPAC in 2021 but deal fell apart- last round was $9.0b in Feb 2022- good timing for IPO with bitcoin ETFs launching this week01:13 | Rabbit large action model hits- Rabbit R1 is an AI first personal device that could replace your iPhone- Rabbit sold out of R1's on first day of offering; 10,000 units (goal was 500)- the Rabbit OS leverages a large language model (LLM), similar to OpenAI's ChatGPT, and a large action model (LAM)- LAM's use AI to take action for you vs just give you information like a LLM does- Rabbit Teach allows users to train the LAM to take actions on the internet or in apps, no coding required, similar to recording an Excel macro- in the future, users will be able to sell their Teach models to other users and receive a fee- Rabbit has raised $36m, Khosla Ventures led their Series A that closed in Dec 202303:27 | OpenAI GPT Store launches - GPT Store is an app marketplace available to subscribers of ChatGPT Plus and higher-tier business plans- platform enables developers and users to create and publish custom ChatGPT applications, or 'GPTs', similar to apps on you iPhone- 3 million custom versions of ChatGPT have been created since Nov 2023- OpenAI plans to share revenue with GPT app developers in the future04:56 | Klarna replaces jobs with AI- CEO Sebastian Siemiatkowski announced Klarna is under a hiring freeze- company is not hiring new employees but replacing them with AI- Klarna has a $7.1b valuation in the secondary market up 5.2% from its last round06:20 | Anthropic raises capital with VCs/SPVs vs investment bankers- Menlo Partners, a Silicon Valley VC, is using a SPV to raise capital for Anthropic's $750m capital raise- VC-backed startups are using the VCs on their cap tables to go out and raise capital from the market vs using investment bankers like Goldman or Morgan in an increasingly frequent trend- VCs stand up special purpose vehicles, or SPVs, raise capital for a specific company directly from pension, endowment, foundations, and individual wealth families.- what's interesting about this … instead of the company paying an investment bank a typical 6% fee on the raise the VCs charge their LPs a one-time upfront fee, annual management fee, carry or some combination of those08:28 | Discord lays off 17%- 170 employees impacted- 40 employees were laid off in Aug 2023- Discord has a $5b implied valuation in the secondary market down 65% from its last primary round in Sep 202109:23 | Pre-IPO -1.11% for week- Week winners: Databricks +3.35%, Neuralink +3.12%, Discord +2.06%, SpaceX +1.33%, Brex +0.53%- Week losers: Anthropic -14.60%, Hugging Face -7.71%, OpenAI -5.10%, Canva -4.60%, Klarna -4.22%- Top valuations: ByteDance $191b (current buyback at $268b), SpaceX $176b (current tender at $180b), OpenAI $68b (current primary round at $95b), Stripe $54b, Databricks $48b lead in current valuation

This week we talk about AMD, graphics processing units, and AI.We also discuss crypto mining, video games, and parallel processing.Recommended Book: The Story of Art Without Men by Katy HesselTranscriptFounded in 1993 by an engineer who previously designed microprocessors for semiconductor company AMD, an engineer from Sun Microsystems, and a graphics chip designer and senior engineer from Sun and IBM, NVIDIA was focused on producing graphics-optimized hardware because of a theory held by those founders that this sort of engineering would allow computers to tackle new sorts of problems that conventional computing architecture wasn't very good at. They also suspected that the video game industry, which was still pretty nascent, but rapidly growing, this being the early 90s, would become a big deal, and the industry was already running up against hardware problems, computing-wise, both in terms of development, and in terms of allowing users to play games that were graphically complex and immersive.So they scrounged about $40k between them, started the company, and then fairly quickly were able to attract serious funding from Silicon Valley VCs, initially to the tune of $20 million. It took them a little while, about half a decade, to get their first real-deal product out the door, but a graphics accelerator chip they release in 1998 did pretty well, and their subsequent product, the GeForce 256, which empowered consumer-grade hardware to do impressive new things, graphically, made their company, and their GeForce line of graphics cards, into an industry standard piece of hardware for gaming purposes.Graphics cards, those of the dedicated or discrete variety, which basically means it's a separate piece of hardware from the motherboard, the main computer hardware, gives a computer or other device enhanced graphics powers, lending it the ability to process graphical stuff separately, with tech optimized for that purpose, which in turn means you can play games or videos or whatnot that would otherwise be sluggish or low-quality, or in some cases, it allows you to play games and videos that your core system simply wouldn't be capable of handling. These cards are circuit boards that are installed into a computer's expansion slot, or in some cases attached using a high-speed connection cable.Many modern video games require dedicated graphics processors of this kind in order to function, or in order to function at a playable speed and resolution; lower-key, simpler games work decently well with the graphics capabilities included in the core hardware, but the AAA-grade, high-end, visually realistic stuff almost always needs this kind of add-on to work, or to work as intended.And these sorts of add-ons have been around since personal computers have been around, but they really took off on the consumer market in the 1980s, as PCs started to become more visual—the advent of Windows and the Mac made what was previously a green-screen, number and character-heavy interface a lot more colorful and interactive and intuitive for non-programmer users, and as those visual experiences became more complex, the hardware architecture had to evolve to account for that, and often this meant including graphics cards alongside the more standard components.A huge variety of companies make these sorts of cards, these days, but the majority of modern graphics cards are designed by one of two companies: AMD or Nvidia.What I'd like to talk about today is the latter, Nvidia, a company that seems to have found itself in the right place at the right time, with the right investments and infrastructure, to take advantage of a new wave of companies and applications that desperately need what it has to offer.—Like most tech companies, Nvidia has been slowly but surely expanding its capabilities and competing with other entities in this space by snapping up other businesses that do things it would like to be able to do.It bought-out the intellectual assets of 3dfx, a fellow graphics card-maker, in late-2000, grabbed several hardware designers in the early 2000s, and then it went about scooping-up a slew of graphics-related software-makers, to the point where the US Justice Department started to get anxious that Nvidia and its main rival, AMD, might be building monopolies for themselves in this still-burgeoning, but increasingly important to the computing and gaming industry, space.Nvidia was hit hard by lawsuits related to defects in its products in the late 20-aughts, and it invested heavily in producing mobile-focused systems on a chip—holistic, small form-factor microchips that ostensibly include everything device-makers might need to build smartphones or gaming hardware—and even released its own gaming pseudo-console, the Nvidia shield, in the early 20-teens.The company continued to expand its reach in the gaming space in the mid-to-late-20-teens, while also expanding into the automobile media center industry—a segment of the auto-industry that was becoming increasingly digitized and connected, removing buttons and switches and opting for touchscreen interfaces—and it also expanded into the broader mobile device market, allowing it to build chips for smartphones and tablets.What they were starting to realize during this period, though—and this is something they began looking into and investing in, in earnest, back in 2007 or so, through the early 20-teens—is that the same approach they used to build graphics cards, basically lashing a bunch of smaller chip cores together, so they all worked in parallel, which allowed them to do a bunch of different stuff, simultaneously, also allowed them to do other things that require a whole lot of parallel functionality—and that's in contrast to building chips with brute strength, but which aren't necessarily capable of doing a bunch of smaller tasks in parallel to each other.So in addition to being able to show a bunch of complex, resource-intensive graphics on screen, these parallel-processing chip setups could also allow them to, for instance, do complex math, as is required for physics simulations and heavy-duty engineering projects, they could simulate chemical interactions, like pharmaceutical companies need to do, or—and this turned out to be a big, important use-case—they could run the sorts of massive data centers tech giants like Google and Apple and Microsoft were beginning to build all around the world, to crunch all the data being produced and shuffled here and there for their cloud storage and cloud computing architectures.In the years since, that latter use-case has far surpassed the revenue Nvidia pulls in from its video game-optimized graphics processing units.And another use-case for these types of chip architectures, that of running AI systems, looks primed to take the revenue crown from even those cloud computing setups.Nvidia's most recent quarterly report showed that its revenue tied to its data-center offerings more than doubled over the course of just three months, and it's generally expected that this revenue will more than quadruple, year-over-year, and all of this despite a hardware crunch caused by a run on its highest-end products by tech companies wanting to flesh-out their AI-related, number-crunching setups; it hasn't been able to meet the huge surge in demand that has arisen over the past few years, but it's still making major bank.Part of why Nvidia's hardware is so in demand for these use-cases is that, back in 2006, it released the Compute Unified Device Architecture, or CUDA, which is a programming language that allows users to write applications for GPUs, graphics processing units, rather than conventional computing setups.This is what allows folks to treat these gobs of parallel-linked graphics processing units like highly capable computers, and it's what allows them to use gaming-optimized hardware for simulating atoms or managing cloud storage systems or mining Bitcoin.CUDA now has 250 software libraries, which is huge compared to its competitors, and that allows AI developers—a category of people who are enjoying the majority of major tech investment resources at the moment—to perch their software on hardware that can handle the huge processing overhead necessary for these applications to function.Other companies in this space are making investments in their software offerings, and the aforementioned AMD, which is launching AI-focused hardware, as well, uses open source software for its tech, which has some benefits over Nvidia's largely proprietary libraries.Individual companies, too, including Amazon, Microsoft, and Google, are all investing in their own, homegrown, alternative hardware and software, in part so they can be less dependent on companies like Nvidia, which has been charging them an arm-and-a-leg for their high-end products, and which, again, has been suffering from supply shortages because of all this new demand.So these big tech companies don't want to be reliant on Nvidia for their well-being in this space, but they also want to optimize their chips for their individual use-cases they're throwing tons of money at this problem, hoping to liberate themselves from future shortages and dependency issues, and to maybe even build themselves a moat in the AI space in the future, if they can develop hardware and software for their own use that their competition won't be able to match.And for context, a single system with eight of Nvidia's newest, high-end GPUs for cloud data center purposes can cost upward of $200,000, which is about 40-times the cost of buying a generic server optimized for the same purposes; so this is not a small amount of money, considering how many of those systems these companies require just to function at a base level, but these companies are still willing to pay those prices, and are in fact scrambling to do so, hoping to get their hands on more of these scarce resources, which further underlines why they're hoping to make their own, viable alternatives to these Nvidia offerings, sooner rather than later.Despite those pressures to move away to another option, though, Nvidia enjoys a substantial advantage in this market, right now, because of the combination of its powerful hardware and the CUDA language library.That's allow it to rapidly climb the ranks of highest-value global tech companies, recently becoming the first semiconductor company to hit the $1 trillion valuation mark, bypassing Tesla and Meta and Berkshire Hathaway, among many other companies along the way, and something like 92% of AI models are currently written in PyTorch—a machine learning framework that uses the Torch library, and which is currently optimized for use on Nvidia chips because of its cross-compatibility with CUDA; so this advantage is baked-into the industry for the time-being.That may change at some point, as the folks behind PyTorch are in the process of evolving it to support other GPU platforms, like those run by AMD and Apple.But at the moment, Nvidia is the simplest default system to work with for the majority of folks working in AI; so they have a bit of a head start, and that head start was in many ways enabled and funded by their success in the video game industry, and then the few years during which they were heavily funded by the crypto-mining industry, all of which provided them the resources they needed to reinforce that moat and build-out their hardware and software so they were able to become the obvious, default choice for AI purposes, as well.So Nvidia is absolutely killing it right now, their stock having jumped from about $115 a share a year ago to around $460 a share, today, and they're queued up to continue selling out every product they make as fast as they can make them.But we're entering a period, over the next year or two, during which that dominance will start to be challenged, more AI code transferable to other software and hardware made by other companies, and more of their customers building their own alternatives; so a lot of what's fueling their current success may start to sputter if they aren't able to build some new competitive advantages in this space, sometime very soon, despite their impressive, high-flying, stock-surging, valuation-ballooning performance over these past few years.Show Notes* https://www.wsj.com/articles/SB10001424052702304019404577418243311260010* https://www.wsj.com/articles/SB121358204084776309* https://www.wsj.com/tech/ai/how-nvidia-got-hugeand-almost-invincible-da74cae1* https://www.reuters.com/technology/chatgpt-owner-openai-is-exploring-making-its-own-ai-chips-sources-2023-10-06/* https://www.theinformation.com/articles/microsoft-to-debut-ai-chip-next-month-that-could-cut-nvidia-gpu-costs* https://en.wikipedia.org/wiki/PyTorch* https://innovationorigins.com/en/amd-gears-up-to-challenge-nvidias-ai-supremacy/* https://techcrunch.com/2023/10/07/how-nvidia-became-a-major-player-in-robotics/* https://en.wikipedia.org/wiki/Graphics_card* https://en.wikipedia.org/wiki/Nvidia This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

Is it time for you to look for your next job? Should you haggle over your salary? How should you network while being busy with your current job? Having worked in the tech industry for over a decade and a half, Sriram and Aarthi are here to help you with your job hunt. 

Content this week from @gideonrachman, @Tabby_Kinder, @KateClarkTweets, @askhalid, @DanKuhn13, @mvpeers, @maskedmanmarc, @BitcoinSVTrain, @IanBremmer, @IKrietzberg, @a16Z, @JagmeetS13, @EllenYChang, @Dexerto, @elonmusk, @finkd Editorial: The Venture Wreckage Essays of the Week Europe has fallen behind America and the gap is growing Silicon Valley VCs rush into defence technology start-ups Antitrust Threat to Figma-Adobe Deal Thwarts Hopes for VC Rebound Spotify's podcast plan is going off the rails FTC'S Amazon Lawsuit Is ‘Silly' If Not Insulting, Analyst Says What the FTC Misses With Amazon Lawsuit In VC Ranking, New & Small Firms Make The Biggest Splash Video of the Week Ian Bremmer's ‘new globalization, a digital global order': Will it work for us, or against us? News Of the Week Molten Ventures still hamstrung by dismal trading backdrop Big Tesla Rival Latest to Partner Up With The EV Leaders Masayoshi Son Ends Seven-Month Silence to Make Case for SoftBank's Future Visualizing BlackRock's Top Equity Holdings Twitter Rolls Out 25k Character Tweets for Twitter Blue Subscribers UK Considers New Law To Label AllL AI-Generated Content Andreessen Horowitz creates ‘Perennial' evergreen fund amid market slowdown Startup of the Week Tesla Supercharger Network: Gas Station for EVs in Future Tweet of the Week Elon Must and Mark Zuckerberg to Stage a Cage Fight --- Send in a voice message: https://podcasters.spotify.com/pod/show/thatwastheweek/message

Following closely on the heels of last December's “Artificial Fandom Intelligence” episode, Elizabeth and Flourish bring you the extremely depressing sequel, “Artificial Fandom Intelligence 2: Rise of the Grifters.” Spurred by recent comments from a Silicon Valley VC about the potential “market” for AI-fueled chatbots amongst fanfiction fans, they take a deep dive into the state of fandom and AI in recent months. Spoiler: it's bleak. They also read to a trio of letters responding to the “Reflecting Reality?” episode, on placelessness in fic, and the centering of U.S. experiences in stories written by and for people in other parts of the world.

As a founding board member of PayPal, cofounder of LinkedIn, and a partner at Silicon Valley VC firm Greylock, Reid Hoffman has long been at the forefront of the U.S. tech industry, from the early days of social media to the launch of new artificial intelligence tools like ChatGPT. He acknowledges that technologists are often better at seeing the benefits of their products and services than they are at predicting the problems they might create. But he says that he and his peers are working harder than ever to understand and monitor the downstream effects of technological advancements and to minimize risks by adapting as they go. He speaks about the future of A.I., what he looks for in entrepreneurs, and his hopes for the future. Hoffman is the host of the podcast Masters of Scale as well as the new show Possible.

We're covering a lot of ground today. First, we must deal with the Silicon Valley Bank collapse.My initial impression upon hearing that the government would make all depositors whole despite FDIC only covering up to $250k was to go ballistic. Again with the billionaire and banker bailouts while the little guy like you and me gets screwed - and most definitely not in a good way? Well, that's not necessarily what's happening.Writer Dave Johnson lives in Silicon Valley and just posted to a listserv we're both on,"I live a few blocks from Atherton where many of the libertarian Silicon Valley VC and types live. When I open my door I can hear screams for government bailouts from my house. They started this morning and it's getting so bad I have to wear earplugs when I go for a walk."We'll find out if he was kidding or not, and what is really happening here at the beginning of the show.Then it's time for Drag Queen Storytime Gone Wild! Well, Spencer Brown and Jeff Manabat, better known as The Kinsey Sicks members Trampolina and Trixie will join us. The Kinsey Sicks just started a month-long run of performances of their new show, "Drag Queen Storytime Gone Wild!" Yes we'll have some fun, but we'll also talk about the horrible attacks on shows like their and the giant leap backwards being attempted by too many authoritarian Republicans in this country today. Now go check out their YouTube channel.So many videos to watch, so little time!

IN THIS EPISODE, YOU'LL LEARN:IntroductionPreston's 1st pick: Michael Saylor describing the importance of inflation being a vectorPreston's 2nd pick: Pablo Fernandez talking about how CBDC will drive a wedge between producers and consumersPreston's 3rd pick: Cory Klippsten describing in detail how the alt coin / Silicon Valley VC game is a professional scamPreston's 4th pick: Alex Gladstein describing how the IMF and World Bank cause debt slavery for developing countries around the world.Preston's 5th pick: Gigi, Michael Saylor, and Jeff Booth describe the difference between Proof of Work and Proof of Sake and the ESG lie.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESThe full interviews of: Michael Saylor's Masterclass in Economics Pablo Fernandez's full interview on CBDC Cory Klippsten's full interview on Altcoins and Silicon Valley VCs Alex Gladstein's full interview on the IMF and World Bank Alex Gladstein's Article on the IMF and World Bank Full interviews on Energy and ESGGigi's PoW InterviewMichael Saylor's Energy InterviewJeff Booth's Energy Interview NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSTalk to your clients about Desjardins Responsible Investment today and support what's right for society and what's good for business.Take stock of your finances and investing strategy with Betterment.Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required.Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor.Let an expert do your taxes from start to finish so you can relax with TurboTax.Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple.Support our free podcast by supporting our sponsors.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Connie Chan is a general partner at Andreessen Horowitz, a leading Silicon Valley VC firm with over $35B under management. Connie joined Andreessen Horowitz in 2011 after working at HP in China and in private equity and became a general partner in 2018. She also spearheaded the firm's Asia network to bridge the gap between Silicon Valley startups looking to navigate opportunities in the Chinese consumer tech ecosystem and companies in Asia seeking to better understand Silicon Valley. Connie has been named a LinkedIn NextWave Top Professional 35 and Under, Wired's Next 20 Tech Visionary, Fast Company's Most Creative People 2017, and won a Sydney award for her writing on WeChat, and is a Young Global Leader at the World Economic Forum. Connie received her B.A. in Economics and M.S. in Management Science and Engineering from Stanford University. -- Get 20% off Lyvecom for your Shopify store at lyvecom.com/dulma

Cliff Obrecht is the Co-Founder & COO @ Canva, the free-to-use online graphic design tool that makes it easy for anyone to design anything from presentations to videos and social media. Cliff and Mel have scaled Canva to over 60 million monthly users, 2,000 employees, and 500,000 teams from companies like Intel and Zoom using Canva. During this incredible growth journey, they have raised over $580M with their last round valuing the company at over $40BN. In Today's Episode with Cliff Obrecht 1.) From Teacher to Billionaire Tech Founder: How did Keith make his way into the world of tech with his founding of FusionBooks? What did the process with FusionBooks teach him about how to run Canva? How did the early fundraising days for Canva go? Why does Cliff think they got over 100 no's? What are Cliff's biggest pieces of advice for founders today, not in Silicon Valley, looking to raise from Silicon Valley VCs? 2.) Scaling to $40BN: The Biggest Lessons: What does Cliff mean when he says the secret to successful hiring is looking for "distance traveled"? How does he determine this in the interview process? What have been some of the single biggest lessons in what it takes to acquire the best talent? What are some of the biggest mistakes Cliff has made in talent acquisition? How has his process changed as a result? What do Canva do to get the best operators as advisors in the company? How do they compensate these advisors? What does Cliff advise founders on how to do the same? 3.) The Art of Deal-Making: How does Cliff think through what makes a "good deal"? How does he approach negotiation? What are the biggest mistakes founders make when negotiating and doing deals? What have been Cliff's biggest lessons on successful investor relations over the years? How does Cliff and Canva approach acquisitions? What do they look for? What is their process? Why do most tech companies approach acquisitions the wrong way? 4.) Cliff Obrecht: Money, Fatherhood and Marriage: How does Cliff analyze his relationship to money today? How much money is enough? How has his relationship to money changed over time? Why have Cliff and Mel given away over $10BN to their foundation? Why is philanthropy so hard to do effectively? Why would Cliff hate for his children to be brought up in excess wealth? What does "great fatherhood" mean to Cliff? What are the most challenging aspects of parenting? What are the secrets to a happy marriage? How does co-founding a company with your other half work well? How does it work poorly?

Sarah Paiji Yoo is the CEO & co-founder of Blueland, a sustainable cleaning & home essentials brand on a mission to eliminate single-use plastics from our homes. She attended Harvard for her undergrad and MBA, worked at McKinsey out of college and then in private equity, then founded her first startup, a mobile shopping platform called Snapette, after business school. Snapette went on to be featured in NYTimes, Oprah, Today Show, Forbes, TechCrunch, WWD, Glamour and was named one of The World's 50 Most Innovative Companies by Fast Company. Snapette was backed by top-tier Silicon Valley VCs including Accel Partners and Forerunner Ventures and was sold after three years. Sarah went on to become a founding partner of LAUNCH, a venture studio that has incubated leading DTC brands like M. Gemi, Follain, and Rockets of Awesome. While on maternity leave she learned about the microplastics in our water supplies and was inspired to start Blueland in 2019. Blueland is a sustainability-driven brand that has been featured in NYTimes, WSJ, Vogue, and The Today Show as well as on Shark Tank. They've raised $35M to date from investors including Prelude Growth Partners as well as celebrity investors like Justin Timberlake and Adrien Grenier. In this conversation we discuss: Sarah's background including what she got out of her MBA experience Why she decided to start Blueland How her cultural upbringing impacted how she thinks about family, motherhood & success How she navigates being the face of her brand Her top tip for hiring great talent that she's learned from being a serial entrepreneur The main advice she'd give to early stage founders For more info: Blueland (website) Blueland TikTok & Instagram Sarah's Instagram

Welcome to another episode of The Action and Ambition Podcast! Joining us today is Rune Hauge, the Founder and CEO of Mentorcam, a marketplace where people access inaccessible mentors for 1:1 advice on business, entrepreneurship, and startups. Before co-founding Mentorcam, Rune founded three different startups with one successful exit as a founder. He also raised millions of dollars in venture capital from top-tier Silicon Valley VCs and high-profile angel investors. Don't miss a thing on this. Tune in to learn more!

My guest today is Mike Kadin.  Mike is the founder and CEO of RedCircle, a podcast platform that helps podcasters turn their hobby into a business. Mike is a self-taught software engineer, who learned to code for the web so that he could speed up his workflow as a high school teacher. After building software for educational institutions and non-profits, he spent 5 years at Uber building out all of Uber's engineering infrastructure for messaging and marketing. As a lifelong creator, Mike founded RedCircle because he discovered how hard it was for podcasters with thousands of fans to earn money for their art. With venture-backing from top Silicon Valley VCs, and an amazing 11-person team in San Francisco, RedCircle is excited to be delivering tremendous revenue for thousands of podcasters around the world.

The sales and revenue functions at today's fastest-growing companies act and think differently than their counterparts. Massive amounts of data inputs and greater coordination — and often, integration — with product, marketing and customer success have redefined the anatomy of today's sales leader.    But indicators of sales success represent only part of the broader blueprint for rapid business growth. In this episode, originally broadcast on the Gartner Sales Podcast, Craig Rosenberg, a Distinguished VP Analyst who serves heads of sales and revenue in his role at Gartner, welcomes special guest Dale Chang, an operating partner with Scale Venture Partners, a Silicon Valley VC firm. The two discuss the four vital signs that are critical to understanding growth, efficiency, churn and burn; how the expected growth trajectory for successful businesses has changed dramatically; and the most important skills for the sales leaders of today — and tomorrow.   Dig Deeper   Download: The Chief Sales Officer Quarterly: Actionable Insights for Forward-Thinking Sales Leaders https://gtnr.it/3cvyqK6   Subscribe: The Gartner Sales Podcast https://bit.ly/3RQt7VO

If Jennifer Smith is right, the way anyone shares how-to knowledge is about to change forever. A former VC and McKinsey consultant turned accidental CEO, she interviewed more than 1,200 business leaders on a quest to understand everything there is to know about processes, best practices, and productivity. Now with her startup Scribe, she's empowering people to own their processes by building the world's first operating system for know-how.
For as long as she can remember, Jennifer has been fixated on finding better, faster ways to get work done. That obsession led her to a career in consulting at McKinsey, where she spent seven years getting paid to uncover the secrets and shortcuts behind companies' highest-performing employees. From there she moved to Silicon Valley VC firm Greylock, picking the brains of over a thousand CIOs, CDOs, and CXOs in an effort to understand their biggest operational pain points.She was shocked to find that despite advances in technology, not much had changed since her early days at McKinsey — to get a true picture of their operational best practices, companies still had to hire a high-priced consultant to look over the shoulder of some overstressed employee. So she teamed up with a former Google engineer and quietly set about building a tool that could automatically capture how employees work, allowing organizations to finally understand, document, and optimize how work gets done.Growing by word-of-mouth only, Scribe has already become a hit at tens of thousands of organizations from tech startup unicorns to Fortune 500 companies. And with over $30M in funding from some of Silicon Valley's most prescient VC's, you can be sure the knowledge sharing revolution they've started is just beginning.

Episode Summary -Do you spend your time being busy, yet end up having an unproductive day?Do you ever feel like your to-do lists are getting longer daily, and you have no clue how to sort them out?
Do you find yourself focusing on the urgent all day long?If any of the situations describe you, it probably means you need to look carefully at how you are managing your time.
The most common reason people struggle with their to-do list is that they tend to spend time on the tasks that are of the least importance.
There is a vast difference between being busy and being productive.
Being productive means you focus on how you can do more with less time and how you can make your work simple. It is also about identifying the tasks that are killing your time and getting rid of them.In this episode, Jennifer Smith shares some productivity tips on utilizing your time more efficiently."Falling in love with the process is the way to overcome self-doubt and self-limiting belief."

Snapshot of the Key Points from the Episode:[02:25] Jennifer shares her background story and talks about why she started with Scribe.[05:03] Jennifer talks about Scribe - What is it, and how it helps people be productive.[09:30] Jennifer shares tips for having a productive workforce.[15:57] Jennifer talks about the skillsets that have helped her succeed.[19:35] Jennifer talks about an accomplishment that is most meaningful for her.[22:41] How to overcome your self-limiting beliefs to boost your confidence.[26:18] Jennifer talks about an obstacle she has faced and how she walked through it.[32:09] The power of asking for feedback from customers.[36:44] What does working from your happy place mean to Jennifer?

How to Connect with Jennifer Smith:Website - https://scribehow.com/LinkedIn - http://linkedin.com/in/jenniferreneesmithTo upgrade to Scribe Pro, use the promo code “happy place” to get a discount.About the Host -Belinda Ellsworth is a Speaker, Trainer, Best-Selling Author, and PodcasterShe has been a professional speaker, mover, and shaker for more than 25 years. Having built three successful companies, she has helped thousands of entrepreneurs make better decisions, create successful systems, and build business strategies using her "Four Pillars of Success" system.Belinda has always had a passion and zest for life with the skill for turning dreams into reality. Over the last 20 years, she has been expertly building her speaking and consulting business, Step Into Success. How to Connect with Belinda:Facebook - https://www.facebook.com/stepintosuccessLinkedIn - https://www.linkedin.com/in/belindaellsworthInstagram - https://www.instagram.com/stepintosuccess/Website - www.workfromyourhappyplace.com

#ICYMI Back in STIMY Ep 30, we met Dr Finian Tan - Chairman & Co-Founder of Vickers Venture Partners - a $3 billion deep tech venture capital fund based out of Singapore. Some things he's done: founder of J.Aron (APAC trading arm of Goldman Sachs)Deputy Secretary of Singapore's Ministry of Trade and Industry, where he was tasked with creating Chairman of Singapore's  $1 billion TIF Fund, to create the Silicon Valley of the East in SingaporeExecutive deputy chairman of A*Star Founding partner of Draper Fisher Jurvetson Eplanet, a Silicon Valley VC that invested in Skype & Hotmail. While at DFJ, Dr Finian Tan made his first & most well-known investment in a little-known startup called Baidu. This is a ICYMI snippet that I felt really illustrates Dr Finian's character & it happened all the way back when he was still a student.He swept ALL the book prizes, and got perfect scores while at university.How did he do it?By planning it like a WAR.

Mentorcam - Book your mentor session with promo code CODE for 20% off! Topic: Funding your startupFor the first installment of Mentorcam March, we chat with Rune Hauge, the Founder and CEO of Mentorcam. Rune is an expert in funding your startup, and is a multi time founder. Prior to Mentorcam, he founded three startups and had one successful exit. He has raised millions of dollars in venture capital from top tier Silicon Valley VCs and high-profile angel investors, and also took Mentorcam through Y Combinator.Questions:How do you build a fundraising strategy?What would make one investor a better fit than another?How do you identify the right investors to go after?How do you create the best Y Combinator application?How do you find seed investors?How important is the MVP in the fundraising process?Book a call with Rune by accessing the link below:https://mentor.cam/runehauge - Use Promo Code CODESupport this podcast at — https://redcircle.com/code-story/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Ali Tamaseb is a partner at DCVC, a Silicon Valley VC fund with over $2 billion under management. The investments Tamaseb led on behalf of DCVC has generated an enterprise value of over $6 billion and the companies he sits on as a board director employ over 3,000 people.Tamaseb studied Electrical Engineering at University of Tehran, Biomedical Engineering at Imperial College London, and general management at Stanford Graduate School of Business and he was an honoree of the British Alumni Award of 2018 by the British Council, and was the recipient of Imperial College President's Medal for Outstanding Achievement.Tamaseb has 7 publications, including two books and five academic papers, holds several patents, and has won medals in national and international Physics and Computing Olympiads. Ali's latest book “Super Founders: What Data Reveals about Billion-Dollar Startups” became the #1 bestselling Venture Capital and Startup book, is published in over 50 countries and is being translated into over 10 languages. Ali and his work have been featured in the WSJ, BBC, Fortune, Guardian, The Telegraph, and Forbes among others and he has given keynote talks at major events and conferences.We have a fascinating conversation, which I think will blow up some of your myths you might have about what it takes to be a super founder. We discussed the number of co-founders, the founder staying CEO, whether first mover is an advantage, what happens when you have competition, the importance of timing, and we talk about how success is so rarely overnight. He also suggests areas that he thinks founders should be building in for the future.“I recommend [when you raise a lot of money] to entrepreneurs, it takes a very, very good discipline of you don't necessarily have to spend the money that you raise. But if you have the discipline of being lean, and only spending that money, there's product market fit” - Ali TamasebToday on Startups for Good we cover:Misconceptions of the qualities of a founderThe value of a co-founderSurvivorship biasMyths and stereotypes of being an investorThe correlation between the amount of money raised and successCompetition can show that there is a marketConnect with Ali on LinkedIn and TwitterAli's book Super Founders can be purchased where all books are soldOther references from the show:Miles' blogpost on Survivorship biasSubscribe, Rate & Share Your Favorite Episodes!Thanks for tuning into today's episode of Startups For Good with your host, Miles Lasater. If you enjoyed this episode, please subscribe and leave a rating and review on your favorite podcast listening app.Don't forget to visit our website, connect with Miles on Twitter or LinkedIn, and share your favorite episodes across social media. For more information about Purpose...

The Power Law: Venture Capital and the Making of the New Future by Sebastian Mallaby From the New York Times bestselling author of More Money Than God comes the astonishingly frank and intimate story of Silicon Valley's dominant venture-capital firms—and how their strategies and fates have shaped the path of innovation and the global economy Innovations rarely come from “experts.” Elon Musk was not an “electric car person” before he started Tesla. When it comes to improbable innovations, a legendary tech VC told Sebastian Mallaby, the future cannot be predicted, it can only be discovered. It is the nature of the venture-capital game that most attempts at discovery fail, but a very few succeed at such a scale that they more than make up for everything else. That extreme ratio of success and failure is the power law that drives the VC business, all of Silicon Valley, the wider tech sector, and, by extension, the world. In The Power Law, Sebastian Mallaby has parlayed unprecedented access to the most celebrated venture capitalists of all time—the key figures at Sequoia, Kleiner Perkins, Accel, Benchmark, and Andreessen Horowitz, as well as Chinese partnerships such as Qiming and Capital Today—into a riveting blend of storytelling and analysis that unfurls the history of tech incubation, in the Valley and ultimately worldwide. We learn the unvarnished truth, often for the first time, about some of the most iconic triumphs and infamous disasters in Valley history, from the comedy of errors at the birth of Apple to the avalanche of venture money that fostered hubris at WeWork and Uber. VCs' relentless search for grand slams brews an obsession with the ideal of the lone entrepreneur-genius, and companies seen as potential “unicorns” are given intoxicating amounts of power, with sometimes disastrous results. On a more systemic level, the need to make outsized bets on unproven talent reinforces bias, with women and minorities still represented at woefully low levels. This does not just have social justice implications: as Mallaby relates, China's homegrown VC sector, having learned at the Valley's feet, is exploding and now has more women VC luminaries than America has ever had. Still, Silicon Valley VC remains the top incubator of business innovation anywhere—it is not where ideas come from so much as where they go to become the products and companies that create the future. By taking us so deeply into the VCs' game, The Power Law helps us think about our own future through their eyes.

On today's show, Liz talks with Eva Nahari—The Queen of Garbage Collection. Eva developed her love for computer science after a strange encounter with a creepy guy on a subway platform in her native home of Stockholm, Sweden. She graduated during the post dot-com bubble and had a tough time finding a job, until she described a way to clean up garbage java code to a prospective employer. That first job launched a two-decade career solving difficult problems across a variety of Silicon Valley tech companies as a top Product Manager. But eventually, her career plateaued and she got stuck—unable to figure out how to get to the next level and increasingly angrier with her inability to solve the problem. Fortunately, a good friend introduced her to an older and wiser career coach who taught her how to allow herself to exist in an uncomfortable state with no plan and no immediate problem to solve. She told Eva that this state would allow her to be open to the most possibilities and, lo and behold, it worked. Today, Eva is applying her problem-solving skills as Principal at DNX Ventures, a Tokyo and Silicon Valley VC where she continues her love of software development as an investor in early-stage tech companies.