TechCrunch has new podcast! Build Mode brings you candid startup wisdom from the people who build, break, and build again. Build Mode is hosted by our very own Startup Battlefield Editor, Isabelle Johannessen who is joined by founders, investors, and operators to dig into the uncomfortable truths about startup life. Think cap table drama, co-founder breakups, and pivot panic.We're sharing their first episode with Forethought AI co-founder, Deon Nicholas as a weekend bonus to your feed. He shares how he built a company that puts customers (not hype) at the center and unpacks his “7-Failure Rule,” the early experiments that shaped Forethought’s success. Episodes of Build Mode drop every Thursday, and you can subscribe now on Apple Podcasts, Spotify, or wherever you get your podcasts. And be sure to check out the video version on TechCrunch’s YouTube. Learn more about your ad choices. Visit megaphone.fm/adchoices

A new report from the International Energy Agency (IEA) shows that $580 billion will be spent globally on AI data centers in 2025 alone. This is $40 billion more than will be spent on new oil supplies — leading us to conclude that data centers are the new oil fields. But is this a net positive for the environment or just a different kind of resource drain?  On TechCrunch's Equity podcast, Kirsten Korosec, Anthony Ha, and Rebecca Bellan dig into what this spending shift means for the energy grid, climate tech, and whether taxpayers should be footing the bill for Big Tech's infrastructure ambitions.  Listen to the full episode to hear about:  The anti-AI disclaimer at the end of Pluribus  Israeli AI agent startup Wonderful's massive $100 million Series A, and why customer service might be the killer app for AI agents  Swedish autonomous vehicle company Einride's SPAC deal — yes, SPACs are back — and whether its electric truck business can carry the autonomous pod dream  Why OpenAI's CFO walked back comments about government "backstops" for data center loans, and what the company is actually asking for from the CHIPS Act  The rise of government spyware targeting journalists and activists, and why mobile phone design makes it nearly impossible to detect  How China-backed hacking groups like Salt Typhoon are "pre-positioning for sabotage" in critical infrastructure worldwide    Disclaimer: This podcast was (also) made by humans  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Many see OpenAI as the ChatGPT company while rivals like Anthropic and Cohere eye the enterprise space. Marc Manara, OpenAI's head of startups, says the reality looks different: AI-native companies are hitting $200 million in ARR, and product cycles have shrunk from two-week sprints to single days.  Today on TechCrunch's Equity podcast, Russell Brandom sat down with Manara at TechCrunch Disrupt 2025 to explore how OpenAI is serving the startups building on its platform.  Listen to the full episode to hear about:  The shift from two-week sprints to one-day development cycles, and what that means for how startups should structure their engineering teams  Why some startups are customizing models for specific tasks in healthcare, finance, and other verticals that seemed out of reach  Where AI still hasn't fully integrated with companies, and why longer-horizon autonomous tasks remain the next frontier for both models and startups  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

SoftBank and OpenAI announced a new 50-50 joint venture this week to sell enterprise AI tools in Japan under the brand "Crystal Intelligence." On paper, it's a straightforward international expansion deal. But SoftBank’s role as a major investor in OpenAI is raising questions about whether AI's biggest deals are creating real economic value or just moving money in circles.  On TechCrunch's Equity podcast, Kirsten Korosec, Anthony Ha and AI editor Russell Brandom break down why this deal has people skeptical, and what it signals about the sustainability of AI's current investment model.  Listen to the full episode to hear about:  Andreessen Horowitz’s move to shut down its Talent x Opportunity fund, and the Equity crew’s take on the firm's explanation  What former FTC chair Lina Khan’s role in NYC mayor-elect Zohran Mamdani's transition team could mean for Big Tech, ride-hailing, and AVs  What Box CEO Aaron Levie had to say about whether we're in an AI bubble at TechCrunch Disrupt 2025, and why the shift from training to inference might actually be reassuring  Beta Technologies' successful $1B IPO and what it signals about the thawing public market — even though massive M&A deals are still going through  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.   Learn more about your ad choices. Visit megaphone.fm/adchoices

Even Rodgers spent a decade as an Air Force weapons officer watching China and Russia build space weapons while the U.S. had "nothing in our arsenal." So he left the military to solve the problem himself.  Now, as co-founder and CEO of True Anomaly, he's building the first exclusively defense-focused space superiority company, developing autonomous spacecraft, sensors, and software designed specifically for military engagements in orbit. With $418 million raised and a growing team, Rogers is racing to field capabilities the Space Force desperately needs.  Today on TechCrunch's Equity podcast, Rebecca Bellan sat down with Rogers to explore the emerging business of space defense and why the U.S. is playing catch-up.  Listen to the full episode to hear about:  How the space industry has shifted away from a service domain as threats in space evolve, and what other countries are already deploying.  The biggest bottleneck slowing down space defense development.  How True Anomaly's "Jackal" spacecraft is designed to evolve from surveillance to multi-role missions.  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Equity crew was live at TechCrunch Disrupt 2025! Hosts Kirsten Korosec, Max Zeff, and Anthony Ha took over the Builders Stage on Monday morning to kick off the event with the question everyone's asking: are we in an AI bubble?  Between valuations that have tripled in months, $300M seed rounds, and $100B commitments flying around, the money is moving fast — maybe too fast. The Equity team breaks down what peak bubble looks like, where the actual business models are (spoiler: a lot of companies are betting on AI datacenters), and why some founders are betting against the scaling race entirely.  Listen to the full episode to hear:  Why this feels like peak bubble territory, and what the wildest funding rounds of the past month tell us about where AI is headed  How the AI data center boom is reshaping infrastructure investing, and which unexpected players are getting in on the action  Why Cohere's former AI research lead is going against the grain and betting against the scaling race  What happens when a startup's viral demo becomes its entire business model (and whether that's sustainable)  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

After a small startup exit and being turned down by every VC firm he applied to, Tim Chen began angel investing and eventually stumbled into raising his own fund.   Now, as the solo investor behind Essence VC, he just closed his fourth fund at $41 million "without even trying." Chen's secret weapon? Being technical enough to debate PhD founders on implementation details while understanding the market dynamics that turn scrappy startups into category leaders.  Today on TechCrunch's Equity podcast, Julie Bort sat down with Tim Chen to explore the rise of solo VCs and who's rewriting the traditional venture playbook.  Listen to the full episode to hear about:  Why the YC playbook of "revenue at all costs" doesn't work for infrastructure startups, and what Chen tells technical founders to focus on instead  The strategic pivot Chen pushed one portfolio company to make that completely changed their trajectory  What being a "small exit founder" taught Chen about venture capital, and why he thinks the industry has it backwards  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.   Learn more about your ad choices. Visit megaphone.fm/adchoices

The browser wars are heating up again, this time with AI in the driver’s seat.  OpenAI just launched Atlas, a ChatGPT-powered browser that lets users surf the web using natural language and even includes an “agent mode” that can complete tasks autonomously. It’s one of the biggest browser launches in recent memory, but it's debuting with an unsolved security flaw that could expose passwords, emails, and sensitive data.  On TechCrunch's Equity podcast, Max Zeff, Anthony Ha and Sean O’Kane break down Atlas’s debut, the broader wave of alternative browsers, and more of the week’s startup and tech news.  Listen to the full episode to hear about:  Why Rivian spinoff Also just landed a massive deal with Amazon for thousands of pedal-assist cargo vehicles (and why the name is a nightmare to say in conversation)  How Sesame, the conversational AI startup from Oculus founders, raised $250M for a product that doesn't really exist yet  The AWS outage that broke much of the web, turned Eight Sleep mattresses into temperature nightmares, and exposed just how fragile the internet really is  The alternative browsers that either embrace or push back against AI-everything, from privacy-focused options like DuckDuckGo and Brave to "mindful" browsers like Opera Air  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Ever wonder if you’re talking to a real person online or just another bot? As bots increasingly outnumber humans online, leading to an explosion of deepfakes and AI-driven fraud, one company has a solution straight out of sci-fi: scanning your iris to verify your identity.  Today on TechCrunch's Equity podcast, Rebecca Bellan spoke with Adrian Ludwig, Chief Security Officer and Chief Architect at Tools for Humanity, the company behind World’s eye-scanning Orbs appearing around the globe. Bellan and Ludwig discuss building privacy-first identity verification, the open-source approach to biometric tech, and why proving humanity matters now more than ever.  Listen to the full episode to hear:  How zero-knowledge proofs verify that you're over 18 (or human) without revealing your location, browsing history, or other identifying information.  Why Tools for Humanity open-sourced the entire Orb — from hardware to firmware and software.  How Match Group, Event Pop, and other major platforms are partnering up to combat bot abuse.  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Silicon Valley’s rule? It’s not cool to be cautious. As OpenAI removes guardrails and VCs criticize companies like Anthropic for supporting AI safety regulations, it’s becoming clearer who the industry thinks should shape AI development.  On this episode of Equity, Kirsten Korosec, Anthony Ha, and Max Zeff discuss how the line between innovation and responsibility is getting blurrier, plus what happens when pranks go from digital to physical.  Listen to the full episode to hear about:  The real-world DDoS attack that blocked Waymo service for a day near a dead-end San Francisco street  Goldman Sachs acquiring Industry Ventures for up to $965 million, signaling Wall Street's growing interest in the secondary venture market  FleetWorks' $17 million Series A to modernize trucking with AI  Why advocating for AI safety has become "uncool" in Silicon Valley from Anthropic facing backlash to California's SB 243 regulation of AI companion chatbots and the success of companies like Character.AI  Which startups are using an SEC workaround to file for IPOs during the shutdown  Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.   Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Can performance-enhancing drugs push the limits of human potential? The creators of the Enhanced Games say yes — and they’re building a new sporting event to prove it.   Backed by Peter Thiel and Donald Trump Jr.’s 1789 Capital, the Enhanced Games aims to disrupt the Olympics with a competition that allows athletes to dope. Launching in Las Vegas in May 2026, the games promise $1 million bounties for breaking world records and lean on a business model reminiscent of Red Bull’s, using the spectacle as marketing for future enhancement products.  Today on TechCrunch's Equity podcast, Rebecca Bellan spoke with Aron D'Souza, co-founder and President of the Enhanced Games, about the business of enhancement, what it means to build in the longevity space, and who gets to do it.  Listen to the full episode to hear:  How the venture has raised "double-digit millions" and signed Olympic silver medalist Fred Kerley, whom D'Souza believes will break Usain Bolt's 100m record at age 31.  Why D'Souza believes Olympic drug testing has stunted performance enhancement research, and how allowing enhancements in sports could drive longevity breakthroughs.  Enhanced's plan to build a telehealth platform selling testosterone and weight-loss drugs (which have yet to be developed).  The societal, economic, and ethical implications of extending human longevity.  Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

AI companies are making their much-anticipated enterprise plays, but the results are wildly inconsistent. Just this week, Deloitte announced it's rolling out Anthropic's Claude to all 500,000 employees. On the very same day, the Australian government forced Deloitte to refund a contract because their AI-generated report was riddled with fake citations. It's a perfect snapshot of where we are: companies racing to adopt AI tools before they've figured out how to use them responsibly.  On this episode of Equity, Kirsten Korosec, Anthony Ha, and Sean O'Kane dig into the messy reality of AI in the workplace, plus funding news and regulatory drama across tech and transportation.  Listen to the full episode to hear more news from the week, including:  AltStore's $6 million raise and its plan to integrate with the Fediverse, making app updates part of your social feed  Base Power's massive $1 billion Series C to deploy home batteries across Texas and beyond  NHTSA's investigation into Tesla FSD after 50+ traffic violations, plus the new "cheaper" models that strip out Autopilot and basic features  Zendesk's claim that its new AI agents can handle 80% of customer service tickets autonomously, and what happens in the other 20%  Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.   Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Trump administration recently announced a massive change to the H-1B visa program, raising the application fee from $2,000-$5,000 to $100,000 per visa. The change has sent shockwaves through the startup world, with founders warning it could price them out of hiring international talent and undermine U.S. innovation. Today on TechCrunch's Equity podcast, Dominic-Madori Davis was joined by Jeremy Neufeld, the Director of Immigration Policy at the Institute for Progress, to break down what this H-1B change means for startups, founders, and the future of tech talent in America. Listen to the full episode to hear about: The massive loophole that lets 80% of H-1B applicants skip the $100,000 fee entirely Why the new wage system could give more visa slots to experienced acupuncturists than fresh AI PhD grads making $200K Why universities and national labs are stuck in limbo, knowing they have to pay but not knowing how Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.    Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. government shutdown that began this week is the first in seven years. While it might not feel immediately disruptive, for startups waiting on permits, visas, or regulatory approvals, even a few weeks can become an existential problem.  On this episode of Equity, Kirsten Korosec, Anthony Ha, and Max Zeff talk through how uncertainty is affecting startups in ways people might not realize, plus the messy reality of AI companies still trying to figure out sustainable business models. Listen to the full episode to hear about: OpenAI’s launch of the Sora app, its TikTok-style feed of AI-generated content, and whether people actually want to pay for an endless stream of synthetic videos How AI-generated actress Tilly Norwood is proving that even fake performers can cause real industry drama Periodic Labs’ $300 million seed round from Andreessen Horowitz, Jeff Bezos, and Nvidia to build AI scientists and discover new physics The US government taking equity stakes in companies like Lithium Americas, MP Materials, and Intel, is raising questions about what happens when Washington steps in as a shareholder Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.    Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

California just made history as the first state to require AI safety transparency from the biggest labs in the industry. Governor Newsom signed SB 53 into law this week, mandating that AI giants like OpenAI and Anthropic disclose, and stick to, their safety protocols. The decision is already sparking debate about whether other states will follow suit.  Adam Billen, vice president of public policy at Encode AI, joined Equity to break down what this new law actually means and why it managed to pass its predecessor SB 1047 incurred so much ire from tech companies that Newsom ended up vetoing it last year.  Listen to the full episode to hear about:  What "transparency without liability" means in practice, and whether it's enough to ensure safe AI is released to the masses.  Whistleblower protections and critical safety incident reporting requirements.  What's still on Newsom's desk, including regulation on AI companion chatbots.  Why SB 53 is an example of light-touch state policy that doesn't hinder AI progress.  The battle for federalism amid moves to take away states’ rights to enact AI regulation.  Equity will be back Friday with our weekly news roundup, so don’t miss it.   Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.    Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

From $100 billion OpenAI commitments to $100,000 visa fees, this week showed just how much the tech landscape is shifting. On the latest episode of Equity, Anthony Ha and Max Zeff unpack the AI infrastructure gold rush and tech's talent shuffle. Listen to the full episode to hear about:   TikTok’s potential new home, and why Oracle is positioned to win big from the deal  Oura Health's reported $875M raise at an $11B valuation and what it means for health tech   Nvidia's $500M investment in UK self-driving startup Wayve and Jensen Huang's billion-dollar UK commitment   The massive data center deals driving OpenAI's expansion, from Nvidia's $100B commitment to Oracle's $15B bond sale   Trump's new $100K H-1B visa fee increase that had Amazon, Google, and Microsoft advising workers to stay in the US  Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.    Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Medical device funding is hitting levels we haven't seen since 2021, with investors pouring billions into diagnostics and imaging companies. But while innovation has raced ahead, a fundamental problem still hasn't changed: critical medical hardware like MRI machines cost millions of dollars and are gatekept by large hospitals. So how do you take one of the most expensive, hospital-bound technologies and make it available anywhere? Evan Kervella, founder and CEO of Paris-based startup Chipiron, joined Equity to walk us through the problem and his vision for solving it. Listen to the full episode to hear about: The unscalable nature of traditional MRI machines that rely on superconducting magnets and liquid helium.  How Chipiron is building installation ease and patient experience into its scaling mission.  Why Chipiron’s lightweight MRI technology isn’t designed to compete with old school machines.  Longevity movement backers.   Why it’s okay to chase M&A as an exit strategy, especially in the medical industry.  Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.  Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Learn more about your ad choices. Visit megaphone.fm/adchoices

This week on Equity, Anthony Ha, Kirsten Korosec, and Max Zeff unpack the biggest moves in AI, robotics, and regulation. Listen to the full episode to hear about: Meta Connect's AR/AI vision and neural wristband control (plus the demos that didn't go as planned) Jack Altman's rapid $275M fundraise and the Altman brothers' expanding Silicon Valley influence The Waymo-Lyft partnership bringing robotaxis to Nashville and the hunt for profitable AV models California's new AI safety legislation and what it means for Big Tech Why investors may soon call this the "golden age of robotics" Equity will be back next week. Subscribe wherever you get your podcasts! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Europe's startup scene is having a moment, with European unicorns multiplying and American VCs setting up shop across the pond. But while European funding dominates the early stages, late-stage capital still flows primarily from the U.S. So what does this mean for European founders, and how is the continent carving out its own identity in an increasingly AI-driven world? Today on Equity, we were joined by Shamillah Bankiya, newly appointed Partner at Dawn Capital, to talk through it all. She and Dominic-Madori Davis discuss AI's impact on European startups, the regulatory landscape, and her journey from Uganda to venture capital. Listen to the full episode to hear about: Why European companies still IPO in the U.S. and what needs to change Bankiya’s marketplace startup and lessons for founders Whether businesses actually need venture funding (spoiler: not all do) Why American investors are suddenly flocking to Europe The EU AI Act and its real impact on startups Talent retention challenges and which founders are choosing to stay in Europe versus relocating to Silicon Valley Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.  Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Leading AI labs like OpenAI and Google DeepMind cut ties with Scale AI after Meta invested $14 billion in the data vendor and hired its CEO. But AI labs still need data — leaving an opening for other startups that can supply it. The key players and factors in the AI data market are changing. Lately, it seems like Mercor — an AI hiring platform that sells data services to AI labs — may be one of the biggest benefactors of this shift. Today on Equity, Kirsten Korosec, Anthony Ha, Max Zeff dive deeper into how the AI data market is changing, check in on startups that recently went public and share their takes on the divisive orange iPhone. Listen to the full episode to hear about: Bending Spoons’ ⁠acquisition of Vimeo for $1.38 billion⁠, and what it means for the video industry. Why SpaceX is making a $17 billion bet on the direct-to-cell market, and what it all has to do with Apple. The long awaited IPO of Klarna, why it popped, and how other newly public companies like Figma and Coreweave are doing. Mercor’s new fundraising talks, and what’s going on the AI data space more broadly. Equity will be back next week. Subscribe wherever you get your podcasts! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices