Isaiah Taylor (Valar Atomics), JC Btaiche (Fuse), & Packy McCormick (Not Boring) join Molly O’Shea to explore how nuclear energy—fission and fusion—is at the heart of America's industrial resurgence and the race for AI dominance.
Isaiah unpacks Valar Atomic’s plan to scale modular fission reactors across the U.S., breaking decades of regulatory stagnation and reimagining how America powers its factories and data centers. JC shares Fuse’s rapid-fire progress in fusion technology, from breakthroughs in pulse neutron generation to vertical integration strategies that echo SpaceX. Packy ties it all together with insights from his investing & writing in Nuclear through Not Boring, explaining why energy-rich, hardware-driven businesses will define the AI age... Bonus we talk about his popular essay The Great Differentiation.
Together, we dive into:
• Fission to fusion, atoms to AI, and Detroit to D.C.
• The role of next-gen nuclear in energy sovereignty
• The strategic urgency to outpace China
• Regulatory tailwinds post-EOs and DOE testing
• Why AI’s energy demands are the catalyst
• How differentiated brand, design, & execution will define the winners in an AI slop world
This conversation is part of Sourcery’s “Made in America” Mini-Series recorded at the Reindustrialize 2025 Summit.
Connect with us:
1. Isaiah Taylor: https://www.linkedin.com/in/isaiahptaylor/
2. JC Btaiche: https://www.linkedin.com/in/jcbtaiche/
3. Packy McCormick: https://www.linkedin.com/in/packym/
4. Molly O’Shea: https://x.com/MollySOShea
5. Sourcery: https://x.com/sourceryvc
Brought to you by:
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel.
As a Sourcery Listener you get: 75,000 points after spending $3,000 on Brex card(s), white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, & access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → https://brex.com/sourcery
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourcery
• Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
• Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Follow Sourcery for the latest updates!
(00:00) The American Atomic Age
(01:15) Isaiah Taylor on U.S. nuclear industry
(03:34) Why modular reactors are the key to scale
(06:47) China’s nuclear lead
(08:32) Valar’s path to criticality & DOE testing
(11:06) Foreign funding & misinformation campaigns
(13:01) Nuclear myths: “It wouldn’t fill an Olympic pool”
(15:29) Why Gen IV reactors are meltdown-proof
(17:29) AI as a tailwind for nuclear infrastructure
(19:21) Misconceptions in nuclear & energy performance
(21:13) Pressure to deliver in this presidency term
(22:59) The future of global energy
(24:26) JC Btaiche: Building the world’s highest-power pulse system
(26:41) Fuse’s strategy: revenue today, power tomorrow
(28:34) Fusion’s role in reindustrialization
(33:12) The AI-power constraint: “Energy = Intelligence”
(35:31) Can we catch up to China in energy?
(38:13) Packy McCormick on vertical integration
(41:11) The Great Differentiation: Why brand matters in the age of AI
Henry Ward, CEO of Carta, joins Sourcery to share how the company scaled to nearly $500M in ARR, raised $1B across seven rounds, and evolved from a startup serving cap tables to a platform targeting massive markets like private equity and private credit. Ward discusses the Peter Thiel-inspired strategy of dominating small markets before expanding, the importance of focusing on inputs over outputs, the challenges of selling to both hoodie-wearing founders and Midtown CFOs, and Carta’s AI-driven future. This wide-ranging conversation dives into scaling lessons, product innovation, network effects, and why private equity is the future.
Carta was a classic 3x, 3x, 2x, 2x, to $100M in Revenue & are now growing 20%+ at scale.
Highlights
• Carta has raised $1B to date & is approaching $500M in ARR, growing 20%+ annually.
• Strategic shift from venture into larger asset classes like private equity & private credit.
• Peter Thiel’s “competition is for losers” philosophy shapes Carta’s market-entry strategy.
• AI as both a customer-facing differentiator & an internal productivity engine.
• Scaling up to delivering million-dollar enterprise solutions for institutional private equity & private credit
Connect with us:
1. Henry Ward: https://www.linkedin.com/in/heward/
2. Molly O’Shea: https://x.com/MollySOShea
3. Sourcery: https://x.com/sourceryvc
Brought to you by:
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel.
As a Sourcery Listener you get: 75,000 points after spending $3,000 on Brex card(s), white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, & access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → https://brex.com/sourcery
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourcery
• Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
• Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Follow Sourcery for the latest updates!
https://www.sourcery.vc/
Chapters:
(00:00) Competition is for Losers
(01:07) Carta’s Growth: Approaching Half a Billion ARR
(02:51) $1B Funding Journey & Board Evolution
(05:30) Measuring Success: Inputs vs Outputs
(07:55) Product Portfolio & Power Law in Software
(10:58) Peter Thiel’s Influence: “Competition is for Losers” & Growth Strategy
(12:02) Expanding from Small Markets to Big Impact
(14:00) Entering Private Equity & Credit
(15:59) Network Effects: Global vs Local
(18:02) Product Market Fit & Building a 10X Product
(20:30) Relationship with Mark Andreessen & Board Insights
(23:10) Company Building vs Product Building
(25:58) AI at Carta: Internal & Customer-Facing Innovations
(31:29) The Impact of AI on Jobs & Workflow
(34:33) Personal Motivation & Performance
(35:44) Looking Forward: New AI Products & Excitement for the Year
Scott Nolan, Founder & CEO of General Matter and Partner at Founders Fund, joins Sourcery to break down America’s urgent need to rebuild its nuclear fuel supply chain. With $50 million in funding led by Founders Fund, General Matter is developing U.S.-based production of HALEU (high-assay low-enriched uranium), the nuclear fuel critical for powering next-generation reactors.
As part of the recent investment, Peter Thiel, Founders Fund Partner & billionaire investor, is joining the board–a notable move for Thiel, who stepped down from Facebook’s board in 2022 and rarely takes on new board roles beyond his long-standing position at Palantir.
Nolan shares how General Matter is applying a “SpaceX x Palantir” playbook to reindustrialize the U.S., from assembling a cross-functional engineering team to securing government contracts and navigating executive orders. We dive into the HALEU bottleneck, AGI power demand, reactor deployment timelines, and the energy arms race with China—and why enrichment is the unlock for nuclear to become the cheapest, safest, & most scalable baseload energy source.
This conversation is part of Sourcery’s “Made in America” Mini-Series recorded at the Reindustrialize 2025 Summit.
Highlights
• America’s Enrichment Deficit: The U.S. currently supplies less than 0.1% of global nuclear fuel enrichment, with 25% of its supply still coming from Russia.
• General Matter’s Mission: Founded in 2023 to make enrichment affordable and scalable, enabling nuclear to become the lowest-cost baseload power.
• SpaceX/Anduril-style Playbook: Blending industry veterans with startup talent to accelerate execution: “1/3 incumbents, 2/3 Silicon Valley engineers”
• AI Energy Demands: By 2030, AI is projected to consume the equivalent of today’s entire U.S. power grid, making energy production the bottleneck.
• Executive Orders & Industrial Strategy: Recent U.S. government actions aim to re-regulate nuclear, fast-track licensing, and quadruple nuclear output by 2050—backed by DOE, DOD, and NRC.
Connect with us:
1. Scott Nolan: https://x.com/ScottNolan
2. Molly O’Shea: https://x.com/MollySOShea
3. Sourcery: https://x.com/sourceryvc
Brought to you by:
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel.
As a Sourcery Listener you get: 75,000 points after spending $3,000 on Brex card(s), white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, & access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → https://brex.com/sourcery
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourcery
• Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
• Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Follow Sourcery for the latest updates!
(00:00) U.S. Nuclear Resurgence
(00:56) Why General Matter Was Founded
(02:49) Making Nuclear The Cheapest Baseload Energy
(04:00) Enrichment And Fuel Process Breakdown
(05:16) Decline Of U.S. Enrichment Capacity
(07:26) Building General Matter & SpaceX/Palantir Playbook
(09:55) Skunkworks Team: Nuclear Experts + Generalist Engineers
(11:11) Breakdown Of The Four Executive Orders
(16:35) Geopolitics, GDP, & The China Energy Gap
(21:14) End Of Stranded Assets & AI’s Power Bottleneck
(24:40) AGI & Software’s Role In Nuclear Deployment
(31:13) General Matter’s 12–18 Month Milestones
Christian Garrett, Partner at 137 Ventures and Co-Founder of the Hill & Valley Forum, returns to Sourcery for a deep dive into Winning the AI Race—a high-stakes summit bringing together Trump, J.D. Vance, top tech CEOs, and government leaders to chart America’s AI future. In this fast-moving conversation, Christian breaks down how AI is driving reindustrialization across mining, energy, and manufacturing, why pricing—not capital—is the real bottleneck in U.S. mining, and how the Pentagon's landmark deal with MP Materials could start to reshape the global rare earths market. He also unpacks Applied Intuition’s $600M Series F at a $15B valuation, the rise of venture opportunities enabled by new policy, and why the Invest America Act—seeding every American newborn with a $1,000 investment account—could be the most important wealth-building policy of this generation.
Join us for a quick dive into the state of national resilience, generational investing, and the convergence of tech, defense, and policy.
This conversation is part of Sourcery’s “Made in America” Mini-Series recorded at the Reindustrialize 2025 Summit.
Highlights
Reindustrialization with AI across mining, energy, & manufacturing
Creating new wealth for Americans with the Invest America Act
Applied Intuition’s $600M Series F at $15B valuation
MP Materials’ rare earths deal with the Pentagon
China’s control of pricing—not capital—is stalling U.S. mining growth
Winning the AI Race summit with Trump, Vance, and tech leaders pushing for U.S. AI dominance and job creation
Connect with us:
1. Christian Garrett: https://x.com/CGarrett_15
2. Molly O’Shea: https://x.com/MollySOShea
3. Sourcery: https://x.com/sourceryvc
Brought to you by:
Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel.
As a Sourcery Listener you get: 75,000 points after spending $3,000 on Brex card(s), white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, & access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → https://brex.com/sourcery
Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourcery
Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Follow Sourcery for the latest updates!
Timestamps:
(00:00) – Christian Garrett Returns
(01:30) – Hill & Valley, Reindustrialize, & 137’s Industrial Bets
(06:10) – AI + Legacy Industry = New Industrial Revolution
(08:30) – Big Bets On Defense, Auto (Applied Intuition), & Mining
(10:55) – MP Materials + Pentagon: Rare Earth Strategy
(13:15) – U.S. Needs Pricing Support + Vertical Integration
(15:30) – Policy Drives Markets: Dodd-Frank, JOBS Act, 174
(17:45) – Invest America: $1K Seed Accounts For All Newborns(
20:10) – “Winning The AI Race” Summit: Tech X Government
Samir Vasavada joins Molly O'Shea on Sourcery to share how he and his co-founder Runik Mehrotra launched Vise as teenagers and scaled it to over $22 billion in platform assets with their leanest team ever: just about 40 people. After a record-breaking Q2 and 1275% YoY growth, Vise is leading the shift to Wealth 3.0 with personalized, automated portfolios that go beyond mutual funds and ETFs.
Backed with $130 million in funding at a $1B valuation from Sequoia Capital, Founders Fund, and Allen & Co, Vise uses AI to help advisors build, manage, and explain portfolios across nearly every asset class and client type.
Since recording this episode Vise has grown from $15B to $22B platform assets in just a few months.
In this episode, Samir breaks down:
• Bootstrapping Vise at 16: From seed to unicorn in 18 months
• Raising $130M from investors like Sequoia, Founders Fund, + Allen & Co
• How Vise saves clients $60M+ in taxes
• What tech billionaires actually do with their equity
• The $10T RIA opportunity—& why the legacy wealth stack is broken
• Retail demand for private credit, real estate, & alternative assets
• Global wealth shifts from London to Dubai, Milan, & Southeast Asia
• Why scaling back from 150+ employees to 40 made the company stronger
“There needs to be one platform that is functionally the platform that powers the global multi-trillion dollar asset management industry. And it will be Vise”
Molly on X: https://x.com/MollySOShea
Samir on X: https://x.com/samir_vasavada
Visit Vise: https://vise.com
Brought to you by:
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel.
As a Sourcery subscriber you get: 75,000 points after spending $3,000 on Brex card(s), white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, & access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) Visit: brex.com/sourcery
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourcery
• Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: kalshi.com/sourcery
• Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Follow Sourcery for the latest updates!
https://www.sourcery.vc/
Chapters:
(00:00) $83T Market → Vise Hits $22B platform assets, 1275% YoY Growth
(01:30) Founding Vise at 16 & Becoming a Unicorn in 18 Months
(03:04) Pivoting to $10T Enterprise RIA Market
(05:28) Lean 40-Person Team → Fastest Growth Ever
(06:23) What Vise Actually Does
(10:23) State of Retail Market: $83T in wealth, $2T+ in Access to Alts
(22:45) $63M+ Saved via Daily Tax-Loss Harvesting
(24:38) Servicing Clients from $200 to $150M Accounts
(30:45) Why Zuckerberg & Elon Take “$0 Salaries”
(32:42) Billionaire Playbook: Financing Homes & Jets via Stock Loans
(39:21) Scaled to 150 Employees to “Refounding” with 40 “Barrels” (Keith Rabois Strategy)
(43:20) Vision: World’s Biggest Tech-Powered Asset Manager
Rune Kvist, CEO & Founder of the Artificial Intelligence Underwriting Company (AIUC), joins Sourcery to break down how his team is building the confidence infrastructure for AI adoption — and why every AI agent will soon need to be certified and insured.
AIUC just came out of stealth with a $15M seed round led by Nat Friedman (NFDG), with participation from Emergence, Terrain, Ben Mann (Anthropic co-founder), former CISOs of Google Cloud & MongoDB, and other top AI operators.
Rune was the first product & GTM hire at Anthropic, and now he’s building the “confidence infrastructure” for the AGI era — combining standards (AIUC-1), audits, and insurance to de-risk AI deployments.
Key Takeaways:
• CEO Rune Kvist: Anthropic’s first product & GTM hire
• AIUC is building insurance, standards, and audits for AI agents
• Enterprises won’t adopt AI without trust & accountability
• AI agent failures — like hallucinations or leaks — are inevitable
• AIUC-1 is a fast-updating standard to certify agents (SOC 2 for AI)
• Every AI agent will need certification and insurance
Molly on X: https://x.com/MollySOShea
Rune on X: https://x.com/RuneKvist
Visit Artificial Intelligence Underwriting Company: https://aiuc.com
Brought to you by:
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel.
As a Sourcery subscriber you get: 75,000 points after spending $3,000 on Brex card(s), white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, & access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) Visit: brex.com/sourcery
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourcery
• Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: kalshi.com/sourcery
• Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Follow Sourcery for the latest updates!
https://www.sourcery.vc/
(00:00) Launching AIUC: $15M Seed Led by Nat Friedman
(01:49) What AIUC Does: Insurance, Standards, and Audits for AI Agents
(04:20) History Repeats: How Insurance Enabled Innovation (Franklin, UL, Cars)
(08:14) The AI Divide: OpenAI vs Anthropic vs SSI
(10:39) Confidence Infrastructure: Helping Enterprises Trust AI
(14:13) How AIUC Tests Agents & Updates Standards Frequently
(17:03) Underwriting AI: Modeling Risk When Agents Go Rogue
(21:40) From AGI to Superintelligence: What Comes Next?
(28:36) Why AI Regulation Won’t Be Federal This Year
(34:36) What Is a Kill Switch — And Do We Need One?
(39:28): One Dominant Standard for AI Insurance
(45:41) What Enterprise AI Will Look Like in 3–5 Years
Greg Little, Senior Counselor at Palantir, joins Sourcery to discuss how AI is reshaping national defense, why America must rebuild its manufacturing base, and the urgent need to weaponize capitalism. He shares a Game of Thrones-inspired breakdown of the defense ecosystem—from Lockheed to startups—and how Palantir’s tools are driving outcomes across the U.S. Navy, industrial supply chains, and even hospital systems. We unpack how the Pentagon needs to evolve, why AI isn’t just hype, and why Palantir’s First Breakfast initiative could be the key to winning the next great power competition.This conversation is part of Sourcery’s “Made in America” Mini-Series recorded at the Reindustrialize 2025 Summit. Topics include:- Palantir’s work with the Navy and defense contractors- The national security implications of China’s manufacturing scale- Why America must learn to build again- How AI is being deployed in shipbuilding, logistics, and battlefield awareness- A defense-tech Game of Thrones: Pentagon = Iron Throne, Lockheed = Lannisters, Startups = Starks- The economics of government procurement vs. value- Financial audits as a weapon of war- Palantir’s infrastructure advantage for startups- How AI can close the “kill chain” and the “cash chain”
Timestamps:(00:00) Palantir's Role in Reindustrializing America(04:02) How Palantir is deploying AI across the U.S. Navy(05:16) The China Shipbuilding Gap: 200 to 1(06:34) Game of Thrones Analogy: Defense tech's competing houses(13:18) “First Breakfast”: “Weaponizing Capitalism”(17:13) Why the Pentagon’s obsession with cost hurts national security(21:03) AI + Capitalism vs. Bureaucracy: Who Wins?(24:51) What Palantir actually does(26:45) Can financial audits help win wars? (Yes!)(30:21) Ontologies, explained (kind of)(34:12) The “Alien Autopsy Room”Connect with us:1. Palantir: https://x.com/PalantirTech2. Molly O’Shea: https://x.com/MollySOShea3. Sourcery: https://x.com/sourceryvcBrought to you by:Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel. As a Sourcery Listener you get: 75,000 points after spending $3,000 on Brex card(s), white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, & access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → https://brex.com/sourceryTuring—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourceryKalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourceryFourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/Follow Sourcery for the latest updates!https://www.sourcery.vc/
Chris Power, CEO of Hadrian, returns to Sourcery to break down the company’s newly announced $260M Series C.. bringing Hadrian’s total investment to ~$500M since founding the company in 2020. This round was closed in 3 weeks, with equity led by Delian Asparouhov of Founders Fund and Lux Capital, alongside a factory expansion loan facility from Morgan Stanley. The funding supports Hadrian’s rapid U.S. expansion, including Factory 3 in Mesa, Arizona, and the build-out of new divisions like Hadrian Maritime.
Chris explains how Hadrian is evolving from precision part production to full product manufacturing, covering everything from components to assemblies to mission-critical platforms. He also shares how the company is integrating AI across its stack, building proprietary labeled data in a space where legacy manufacturing systems have long been offline.
The conversation touches on geopolitics, the Davidson window, industrial readiness, and why Hadrian is betting big on automation and American workforce reinvention.
Highlights:
$260M Series C to expand into full product manufacturing and naval defense
Factory 3 opening in Arizona with 270,000 sqft
Hadrian generating one of the only scalable labeled data sets for AI in manufacturing
10x YoY Growth & National Expansion Plans
Connect with us!
1. Chris Power: https://x.com/2112Power
2. Molly O’Shea: https://x.com/MollySOShea
3. Sourcery: https://x.com/sourceryvc
Brought to you by:
Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel. As a Sourcery Listener you get: 75,000 points after spending $3,000 on Brex card(s), white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, & access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → https://brex.com/sourcery
Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourcery
Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Subscribe to Sourcery for the latest updates!https://www.sourcery.vc/
Timestamps:
(00:00) - Chris Power Returns
(01:00) - $260M Series C: Founders Fund, Lux, Morgan Stanley
(03:35) - Factory 3 in Arizona & expansion
(05:10) - Hadrian’s product vision: parts, assemblies, full systems
(06:55) - Customers: hardware startups, primes, DoD
(08:30) - Why America needs 20 Hadrians
(10:50) - Financing factories like solar & data centers
(13:45) - ReIndustrialize 2025: momentum in policy & defense
(15:45) - The Davidson Window: China, Taiwan, and U.S. readiness
(22:57) - AI in manufacturing: Hadrian’s data moat & automation strategy
(25:55) - Future Predictions: Trump, China, Recession
(30:30) - Bloopers
#Hadrian #AdvancedManufacturing #ReindustrializeAmerica #DefenseTech #SupplyChainResilience #BuildInAmerica #ChrisPower
Art Levy, Chief Business Officer at Brex, the $12.3 billion modern finance behemoth, breaks down why we’re seeing a Golden Age of M&A, with mega-acquisitions, reverse acqui-hires, and aggressive consolidation across the AI landscape. From Meta’s $14B 49% stake in Scale AI, to Google’s $32B Wiz deal, & Stripe’s aggressive crypto rail strategy, Art offers a sharp view into the strategies behind the biggest moves in tech & finance.
We go deep on:
• The rise of “tuck-in” M&A (Scale AI) + strategic AI consolidation
• Best & worst practices for M&A
• Brex’s growth: 80% YoY enterprise revenue growth, 140% NRR, $100B+ in TPV run rate
• Their structural advantage vs. Ramp, Amex, & legacy banks
• The rise of crypto rails (Stripe’s acq of Bridge & Privy)
• Raising $1.5B & the road to IPO
Brex has evolved far beyond its startup roots, now powering financial operations for over 200 public companies, including leading global players like Arm, Anthropic, eToro, Neuralink, Scale AI, Wiz, etc. Plus 1 in 3 venture-backed startups in the U.S. use Brex. With multiple $100M+ revenue lines, Brex combines a globally distributed payments platform with spend management software, banking infrastructure, and AI-powered automation. The company is redefining what it means to be mission-critical infrastructure for modern CFOs — with durable revenue streams, strong retention, and a clear path to IPO.
Brex Funding Stats:
• Last valuation: $12.3B, primary round done in late 2021
• Investors: YC, DST Global, Greenoaks, Tiger Global, Ribbit, TCV, Kleiner Perkins, IVP, Lone Pine, GIC, Baillie Gifford, Madrone Capital Partners
• Total funding: $1.5B; did a tender offer in early 2022 for $250M at same $12.3B valuation.
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Chapters:
(01:13) Massive AI Consolidation
(04:41) Art Levy's Journey to CBO at Brex
(08:28) Brex's $12.3B Evolution & Path to IPO
(14:18) Current State of M&A (Meta, Stripe, OpenAI)
(24:00) Meta's Strategic Moves in AI
(37:32) Best & Worst Practices for M&A
(50:00) 3 Types of M&A
(52:22) Brex's M&A & Partnership Approach
(53:35) Brex's Modular Product Strategy
(54:43) Strategic Partnerships (Zip, Coupa, Navan, Warp)
(01:05:05) Exploring Stablecoins, Crypto Rails, & Global Finance Infrastructure
(01:08:26) Dethroning Amex: Brex's Market Position & Competitive Edge
(01:25:04) Rise of AI & AI Agents in Finance
(01:27:14) Brex's Massive Growth & Market Strategy
(01:31:23) Future Predictions: AI, Finance, Waymo, Happy Gilmore
Connect with us:
1. Art Levy: https://x.com/Alevy1511
2. Molly O’Shea: https://x.com/MollySOShea
3. Sourcery: https://x.com/sourceryvc
Bryan Kim, Partner at Andreessen Horowitz (a16z), focuses on early-stage investments in consumer and application-layer AI. He has invested in some of the most prolific consumer companies like: Captions, ElevenLabs, BeReal, Function Health, and more.
One of his recent investments is viral phenomenon, Cluely, a controversial San Francisco-based AI startup founded by Roy Lee. Cluely has raised over $20M to date, with their most recent $15M investment from Bryan at a16z. Cluely is building an invisible desktop assistant to help you “cheat on everything.”
We talk about:
• The wild backstory behind investing in Cluely & ElevenLabs
• Why he calls momentum “the moat” in the AI era
• What it takes to raise a Series A today
• How context makes AI products infinitely better, and harder to replace
Brought to you by:
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Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Follow Sourcery for the latest updates!
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Connect with us:
1. Bryan Kim: https://x.com/kirbyman01
2. Molly O’Shea: https://x.com/MollySOShea
3. Sourcery: https://x.com/sourceryvc
(00:00) Trailer
(01:04) Welcome Bryan Kim & Cluely Intro
(02:26) How Bryan Met Roy Lee
(07:00) The $15M Bet On Cluely
(09:58) Cluely’s Hype Media Strategy
(14:18) Momentum Is The Moat
(20:37) Brex’s Full-Stack Product Suite
(22:26) Chasing ElevenLabs Across the Globe
(26:04) Function Health & Preventive AI
(32:39) Why Creative AI Tools Are Exploding
(34:54) Deepfakes, Risks & Regulating AI
(38:08) Startup Exits, Liquidity & What’s Changing
(43:50) Do Post-2024 Startups Scale Faster?
(49:04) OpenAI Usage beating Social Media?
(51:58) The 3 Metrics Bryan Looks For
(58:07) Growth vs. Profitability: Where We Are Now
(01:02:00) Will Tech Layoffs Keep Rising?
(01:04:35) What’s Next for Consumer AI
(01:05:49) Will Roy Lee Become a Billionaire?
(01:06:57) Jony Ive × OpenAI: New Ambient Device?
(01:09:56) Waymo, Robotaxis & the Future of Cities
(01:11:47) Final Thoughts: It’s Time to Build
Jack Altman built Lattice into a multi-billion-dollar category leader, raising hundreds of millions along the way.
Now he runs Alt Capital, backing 25 bold AI startups out of the $150M AUM fund III. This includes existing portfolio companies like Antares, Owner.com, David AI, Retell AI and more.
In addition to that, we breakdown Jack’s new podcast Uncapped, which recently reached escape velocity in just 14 episodes after interviews. Uncapped is a podcast where Jack interviews founders and investors he genuinely admires, using those conversations to publicly explore the inner workings of venture capital. Legendary guests include Marc Andreessen, Keith Rabois, Gary Tan, Josh Kopelman, Elad Gil, Aaron Levie, Qasar Younes, Elad Gil, Adam Guild, and of course, his brother Sam Altman.
In this episode with Molly O’Shea, he dives into:
• why there’s no such thing as a “right strategy” in VC
• how your board shapes your long-term trajectory
• what AGI could mean for our world, and more
(00:00) Trailer
(00:59) Welcome Jack Altman!
(02:12) Founder to VC & now Podcaster
(05:48) Learnings from hosting Uncapped
(12:50) The Marc Andreessen Podcast
(14:10) Brex’s Full-Stack Product Suite
(18:24) Securing an allocation in hyper competitive rounds
(20:04) What is it like being a founder in today’s environment?
(24:13) Will model companies grow even bigger?
(33:50) Sam Altman & The AGI Timeline
(39:44) Are energy companies the next gold rush?
(43:13) Silicon Valley: More Talent Acquisitions Abound
(44:40) Alt Capital’s Investment Portfolio
(46:40) What’s it like being a high performer?
(48:00) Espresso obsession & Pokémon cards?
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As a Sourcery listener, you can unlock up to $500 toward Brex travel or $300 in cash back, plus exclusive perks to help you move even faster: https://brex.com/sourcery
Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost.
Visit Fourthwall to start today: https://fourthwall.com/
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Connect with us:
1. Jack Altman: https://x.com/jaltma
2. Molly O’Shea: https://x.com/MollySOShea
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Roy Lee, Founder & CEO of Cluely, announces their $15M from Andreessen Horowitz to build what they call the most viral AI startup in the world. In this deep dive, we break down their product, business model, fundraising strategy, controversial stunt marketing playbook, and what it means to scale with creator-led growth.
With over $20M in total funding, Cluely is building real-time, undetectable screen overlays, Cluely is rethinking how AI should show up in your workflow, and they’re doing it profitably.
Cluely last announced their $5.3M Seed round in April 2025, co-led by Abstract Ventures and Susa Ventures.
Whether you think they’re brilliant or reckless, this is one of the most fascinating startup stories in tech right now.
Try Cluely: https://cluely.com/
Molly on X: https://x.com/MollySOSheaRoy on X: https://x.com/im_roy_lee
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Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/Follow Sourcery for the latest updates! https://www.sourcery.vc/TIMESTAMPS:00:00 - Roy Lee, Cluely
00:35 - $15M Led by a16z
02:21 - Cluely’s Viral Mega Launch
03:07 - Fundraising Strategies & Founder Mindset
04:51 - From Columbia to Silicon Valley
08:17 - Cluely: Product Overview & Vision
16:39 - Business Model & Profitability
21:10 - Stunt Marketing & Virality
26:48 - Idol: Elon Musk's Freedom & Success
27:05 - Controversies
27:46 - Criticism28:09 - Will Roy Go To Jail?
29:54 - Selling to Enterprise
32:20 - Importance of Viral Content
33:58 - Team Dynamics & 50 Interns
36:03 - Managing Stunts & Culture
46:36 - Leadership Challenges & Personal Reflections
51:09 - Kalshi Predictions & Future Outlook#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley #Cluely #SeriesA #a16z #AmbientAI #FounderLed #CreatorLedGrowth #ViralMarketing #UndetectableAI #EscapeVelocity #ConquerorOfTheUniverse #RoyLee
Paul Klein IV, founder & CEO of Browserbase, announces their $40M Series B at a $300M valuation led by Notable Capital. Browserbase has raised $67.5M in total funding in just 15 months (!!) since founding the company. Existing investors include big Silicon Valley funds like Kleiner Perkins, CRV, Basecase, and more.
Paul shares how Browserbase is powering the next generation of AI agents and “vibe coders” by providing programmable, cloud-hosted browser infrastructure—what he calls “Twilio for headless browsers.”
Special thank you to John at Strike Capital for the introduction, as well as Bucky Moore and Turner Novak for some incredible questions. This is an awesome interview.
We cover:
* How Browserbase works and real-world automation use cases
* Round dynamics, fundraising strategy & investor support
* Their all-star angel network: Jeff Lawson (Twilio), Patrick Collison (Stripe), Guillermo Rauch (Vercel), founders of Okta, Stitch, WorkOS, and more
* The evolution of their brand (emoji story)
* Go-to-market strategy and scaling past 1,000 customers
* Launching Director.ai for “vibe coders”
* The future of AI agents, authentication, and automation
* Paul’s solo founder journey and team culture in SF
Whether you’re building an agent, automating legacy workflows, or just curious how infra startups are scaling fast in AI, this one’s for you.
Check out Browserbase: https://www.browserbase.com/
Molly on X: https://x.com/MollySOShea
Paul on X: https://x.com/pk_iv
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Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Follow Sourcery for the latest updates!
https://www.sourcery.vc/
TIMESTAMPS:
00:00 - Series B Fundraise Announcement
02:21 - Introduction to Browserbase
04:04 - Use Cases & Applications
07:56 - Customer Growth & Product Development
10:48 - GTM & Branding Strategies
22:53 - AI Agent Ecosystem & Authentication
28:08 - AI Regulation & Deep Fakes
30:07 - Launching Director AI
30:54 - Empowering Vibe Coders
33:52 - Customer Service & Team Composition
41:28 - Why Founding a Startup Should Be Last Resort
44:38 - Managing Performance As A Solo Founder
48:38 - Future Outlook & Kalshi Predictions
#Browserbase #AIInfrastructure #PaulKlein #Startups #Automation #SeriesB #AIagents #DeveloperTools #VibeCoders #podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley
Cameron McCord, CEO & Founder of Nominal, discuss their recent $75 million Series B round led by Sequoia, bringing their total funding to over $100 million. With this funding, #1 on the Midas list investor, Alfred Lin of Sequoia is joining their board.
Alongside Stephen Slattery, Growth & Product at Nominal, they delve into Nominal’s rapid 10-day funding process, driven by thorough due diligence and their impressive customer testimonials. We go deeper into their innovative core products, Core and Connect, for hardware testing, software management, and their impressive traction in aerospace, defense, energy, and maritime industries. Closing large early customers like Shield AI, Antares, and Vatn.
Cameron and Steven, share insights into their backgrounds, including experiences in the US Navy, Anduril, SpaceX, and other prestigious institutions, and how these experiences led them to create Nominal. Learn how Nominal accelerates testing processes, the company’s growth strategies, and the unique challenges and advancements in the hardware sector. Plus, Cameron’s fascinating background as a submarine officer.
Molly on X: https://x.com/MollySOSheaCameron on X: https://x.com/cameronlmccord
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Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/Earn Sourcery
Content Rewards: https://whop.com/sourcery/?a=sourcery
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TIMESTAMPS:
00:00 - $75M Series B Led by Sequoia
03:12- The Journey to Nominal: Backgrounds and Convictions
06:01 - Market Opportunities & Challenges in Aerospace and Defense
08:58 - Continuous Hardware Testing: The Future of Development
11:48 - Nominal's Unified Operating Platform: Features and Benefits
15:03 - The Role of Connect in Hardware Testing
17:55 - Trends and Predictions in the Defense Sector
20:48 - Navigating the Supply Chain and Testing Landscape
23:48 - The Importance of Collaboration with Primes
26:49 - Delta Qualification: Accelerating Hardware Development
34:06 - Nominal's Products: Core and Connect
44:27 - Scaling Success with Nominal
48:21 - Performance Management in Complex Industries
52:10 - Case Studies: Aerospace, Nuclear, and Maritime
01:00:24 - Efficiency Gains & Cost Savings for Customers
01:03:20 - Navigating Innovation in a Rapidly Changing Landscape
01:06:49 - Go-to-Market Strategies for Diverse Customers
01:09:10 - Building a Talented Team for Growth
01:14:57 - Lessons from Fundraising and Future Outlook#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley
With $32M in total funding, Nucleus CEO Kian Sadeghi joins Molly to discuss the groundbreaking launch of Nucleus Embryo, a genetic optimization software designed to give children the best possible start in life. Kian explains how the software analyzes comprehensive genetic profiles of embryos, helping parents make informed decisions about traits such as disease risks and physical characteristics.
The conversation delves into partnerships with companies like Genomic Prediction, the significance of this innovation in the broader context of the fertility crisis, and the ethical considerations and future implications of genetic optimization. Nucleus also touches on the affordability and accessibility of this technology, ensuring it becomes a universal tool for all prospective parents.
Molly on X: https://x.com/MollySOShea
Kian on X: https://x.com/KianSadeghi5
Visit Nucleus for Embryo, Family Planning, & Health Testing: https://mynucleus.com/
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Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Fourthwall—The #1 way to sell merch online — Fourthwall is the easiest way to launch a fully branded merch store—used by big brands like MKBHD, Acquired, & even the Smithsonian. 100+ products. No upfront cost. Visit Fourthwall to start today: https://fourthwall.com/
Earn Sourcery Content Rewards: https://whop.com/sourcery/?a=sourcery
Follow Sourcery for the latest updates!
TIMESTAMPS:
0:00 - Kian Sadeghi/Nucleus Intro
0:55 - What is Nucleus Embryo?
2:08 - What does genetic optimization for embryos mean?
4:13 - Why is this now possible vs 5 years ago?
6:11 - The current state of fertility
7:48 - Brex feature
10:53 - How does Nucleus fit into the fertility crisis?
12:20 - Why do you think parents still feel like having children is hitting a lottery ticket?
13:18 - The defining moment for the genetics industry
15:46 - What does this all mean for users?
18:09 - How accurate is your analysis?
19:58 - How far can you take picking out traits for your baby?
22:59 - The controversy and ethics around embryonic selection
24:37 - Kian's message to the critics and sceptics
27:04 - Fourthwall feature
27:53 - The goal is to have anyone and everyone to have access to this
29:02 - What's next for Nucleus?
31:25 - What do you think the best AI will be this month?
32:15 - Will DeepSeek be banned in the US this year?
32:50 - How many times will Trump visit Mar-a-lago this month?
33:20 - What will Tim Cook say during the Apple WWDC event?
35:00 - Thank you for coming on the show Kian
In this episode, John Andrew Entwistle, founder & CEO, breaks down Wander’s explosive growth and recent $50M Series B round led by QED Investors and Fifth Wall, with support from Redpoint, Uncork, Starwood Capital, and Breyer Capital.
Wander is building the first vertically integrated platform in vacation rentals, targeting the $35B luxury short-term rental segment with over 1,000 homes, a best-in-class 85 NPS, and 35,000+ nights booked to date.
Earn Sourcery Content Rewards: https://whop.com/sourcery/?a=sourcery
Molly on X: https://x.com/MollySOShea
Jack on X: https://x.com/jacksharkey11
Brought to you by:
Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel. As a Sourcery listener, you can unlock up to $500 toward Brex travel or $300 in cash back, plus exclusive perks to help you move even faster: https://brex.com/sourcery
Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Follow Sourcery for the latest updates!
TIMESTAMPS:
0:00 - John Andrew Entwistle Introduction
1:00 - Series B Benchmark: $5M–$15M ARR
3:32 - What is Wander?
5:20 - Maintaining a high NPS through various transitions
6:10 - The Unscalable Beginning
8:15 - Building the First Vacation Rental REIT
10:46 - Brex Sponsorship Break
11:48 - Market Size: $35B GMV in Top 5%
13:42 - Customer Experience Philosophy
17:00 - Solving the Marketplace Cold Start Problem
19:15 - Hardest Challenge: The 2022 Crisis
23:47 - Sourcing Premium Properties
25:30 - Favorite Properties and Hidden Gems
28:51 - B2B Opportunities
32:34 - The Technology Stack
36:18 - Founder Background
39:59 - Advice for Young Founders
41:37 - Staying Clear During Rapid Scaling
43:53 - Team Structure and Hiring
48:56 - Efficient Marketing and Operations
51:04 - Demand Generation Strategy
53:22 - Activation Over Growth
55:27 - Business Model Deep Dive
57:59 - Capital Raised: $100M+
1:00:13 - What to Look for in Investors
1:02:20 - Life Philosophy: The Four Rules
1:06:24 - Looking Forward
#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley
Whop CTO Jack Sharkey reveals how they built a $1.2 billion GMV run rate platform with just 20 engineers, processing $108 million monthly & 5+ billion views for 28,000 creators worldwide. Whop has raised $80 million, valued at $800 million. He shares controversial takes on why junior engineers should skip big tech to build their own projects, how AI is making developers 5-10x more productive, and Whop's radical culture of requiring employees to have personal side projects with real users.
Earn Sourcery Content Rewards: https://whop.com/sourcery/?a=sourceryMolly on X: https://x.com/MollySOSheaJack on X: https://x.com/jacksharkey11
Brought to you by:
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Kalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourcery
Follow Sourcery for the latest updates! https://www.sourcery.vc/
TIMESTAMPS:
0:00 - Jack Sharkey/Whop Intro
1:30 - Whop's Mission, Origin Story & Hyper-growth
4:43 - Whop's Funding & $800M Valuation
15:22 - Key Metrics & Global Growth
22:48 - Engineering Challenges & AI Philosophy
33:26 - Database Migration Deep Dive
40:07 - Company Culture & Side Projects
48:40 - Future Plans & Kalshi Predictions
Erik Kriessmann, Partner at Altimeter, joins Molly O'Shea to share his journey from leading human capital at Khosla & Index to writing $100+ million checks into Aerospace & Defense at Altimeter's $10 Billion AUM Fund. We go deep into his investment strategies, and his thoughts on key industry trends.
Learn about his work with prominent companies like SpaceX, Anduril, and K2 Space, as well as the unique approach Altimeter takes in supporting founders and investing in transformative technologies.
Erik also discusses the evolving exit environment, the impact of AI, and future opportunities in aerospace, defense, and hard tech. Don't miss this comprehensive dive into the minds of one of venture capital's most under-the-radar legends.
Molly on X: https://x.com/MollySOSheaErik on X: https://x.com/ekriessmannBrought to you by:Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel. As a Sourcery listener, you can unlock up to $500 toward Brex travel or $300 in cash back, plus exclusive perks to help you move even faster: https://brex.com/sourceryKalshi—The largest prediction market and the only legal platform in the US where people can trade directly on the outcomes of future events: https://kalshi.com/sourceryFollow Sourcery for the latest updates! https://www.sourcery.vc/
TIMESTAMPS:
00:00 Introduction
00:49 From Khosla & Index to Altimeter
06:50 Building Relationships & Trust
08:35 Sponsorship Message from Brex
09:38 Investing in Real World Technologies, Aerospace, & Defense
14:19 Deep Dive into Anduril
24:22 Spotlight on K2 Space
29:54 Building a Winning Team
31:41 Recruitment Challenges & Strategies
34:14 Altimeter's Investment Approach
40:28 Evaluating Success in Investments
41:46 Exit Strategies & Market Trends
45:36 Opportunities in Aerospace & Defense
50:58 Kalshi Predictions (AI, Wealthiest Person, SpaceX, Aliens)
#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley
Bucky Moore joins Molly O'Shea to announce his new role as Partner at $30B AUM Lightspeed Venture Partners. Bucky opens up about his transition from Kleiner Perkins, the decision to join an established platform versus launching his own fund, the structural and economic elements of changing funds, and what it means to invest at the earliest stages during a generational market cycle.
We dive deep into the evolution of megafunds, the heat they’re receiving, the shifting LP landscape, and how venture capital is being reshaped by the rise of targeting trillion-dollar outcomes in companies like OpenAI and SpaceX. Bucky shares his insider take on how to win deals in a hyper-competitive market, the importance of long-term founder relationships, and why early-stage investing is still the soul of great VC firms—even at scale.
From navigating fund transitions and valuation froth to unpacking the real impact of AI and what makes a high-stake founder, Bucky brings sharp insights and grounded wisdom. He also reflects on the power of gratitude, taste, and team in an increasingly complex venture ecosystem.
Molly on X: https://x.com/MollySOShea
Bucky on X: https://x.com/buckymoore
Follow Sourcery for the latest updates!
Follow for exclusive Sourcery content & early releases on Passes: https://www.passes.com/mollysoshea
TIMESTAMPS:
00:00 - Transition to Lightspeed
01:48 - Why Lightspeed Over Own Fund? Transition Dynamics
05:01 - Mega Funds & Trillion-Dollar Strategies
09:19 - “Venture Arrogance Score”
18:28 - How to Win Competitive Rounds
22:03 - The Importance of ‘Picking’ as a Lead Investor
26:32 - Valuations in Pre-Seed & Seed Rounds
30:46 - The Concept of Taste in Venture Capital
38:02 - Sourcing & Building Relationships with Founders
44:22 - Looking Forward: New Beginnings at Lightspeed
#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley
Leigh Marie Braswell, Partner at Kleiner Perkins, speaks with Molly O'Shea on the rise of AI and its impact on venture capital. We discuss KP's 21st venture fund, KP21, an $825M fund to back early stage companies, and their third select fund, KP Select III, a $1.2 billion fund to back high inflection investments. We also go deeper into key AI infrastructure trends and machine learning applications, investments in companies like Windsurf, Glean, and Ambience, and the evolution of Kleiner Perkins over its 50+ years. Learn about the firm's investment strategy, the significance of maintaining a small team, and the process of finding exceptional talent. Leigh Marie also shares her background at Scale AI and insights into creating 'talent vortexes.' A must-watch for entrepreneurs, investors, and AI enthusiasts.
Leigh Marie Braswell is a Partner at Kleiner Perkins, where she focuses on investing in infrastructure and machine learning (ML) application startups. She joined the firm in 2023 after serving as a Principal at Founders Fund. Previously, she was an early engineer and the first product manager at Scale AI, leading development for 3D annotation products used in autonomous vehicles, robotics, and AR/VR.
Molly on X: https://x.com/MollySOShea
Guest on X: https://x.com/ttunguz
Follow Sourcery for the latest updates!
TIMESTAMPS:
00:00 Introduction
00:25 $10B+ AUM: Kleiner's Legendary Generational Transformation
08:08 Windsurf: Angel Investment to Potential $3B Acquisition
18:21 Hyper-Competitive AI Landscape
25:43 ARR, Fraud, & Scams
31:52 Code-Gen Competition: Cursor, Devin, Copilot, Windsurf
35:48 Key Trends in AI Infra & ML Applications
40:13 Leigh Marie's Background & Scale AI Journey
46:17 Talent Vortexes & Investing
52:34 Seed-Strapped Companies & Growth
58:37 Poker Nights & Networking
01:03:05 Looking Forward: AI and Founders
